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76 CID reviews 2027 budget with $599,500 'wow' project and $1.38M surplus projection
Summary
Staff presented a proposed 2027 budget showing a projected surplus of $1,377,865 (based on a 2% revenue increase), insurance and operating lines, and a $599,500 'wow factor' capital item plus roughly $500,000 in sidewalk/roadway intersection improvements.
Staff presented the 2027 proposed budget for the 76 Entertainment CID, outlining operating lines and capital projects and noting a projected surplus under current revenue assumptions. Allison (speaker 5) told the board that to date the CID had collected $2,704,840 in revenue and had recorded $101,149 in expenditures through June; the draft budget assumes a 2% revenue increase and projects a surplus of $1,377,865.
“All that was not updated once since we got those figures in right after we sent out this one,” Allison said when the updated 'wow factor' number was circulated. The board discussed the 'wow factor' capital item — a prominent visitor‑facing project — and staff provided an updated figure of $599,500 for that element plus roughly $500,000 for sidewalk and roadway intersection work, bringing the two line items to just over $1.1 million.
Board members probed whether the revenue comparisons were 'apples to apples' given inflation and changes in visitor spending; staff said final quarterly traffic counts and revenue details will be available with the next financial filing. The board also discussed communications and website contract spending and whether to restore a larger communications consulting allowance if the construction project ramps up.
