City Commissioners approved an additional $257,000 of downtown tax increment financing funds for a streetscape project.
Commissioners initially approved $243,000 of downtown TIF funds in September 2023 for installation of streetscape and compliant pedestrian curb ramps on the east side of 7th Street South from Central Avenue to 1st Avenue South.
Brock Cherry, city planning director, said during the June 3 meeting that due to “internal delays, caused by staffing shortages and also turnover within our engineering division the project has not yet moved forward.”
City Commission to consider two downtown streetscape, ADA projects [2023]
Now, coupled with high construction and labor costs, the project estimate has increased 106 percent to $483,000, according to city staff.
Cherry said the TIF fund can support the increased cost as “our TIF fund is healthy.”
The staff requested increase in TIF funds brings the allocation to $500,000 to cover any other cost increases between now and the actual bid for the project.
City staff reviewed the project and found it to be consistent with the Downtown Urban Renewal Plan.
The Downtown Development Partnership reviewed the initial request in 2023 and recommended the additional funds in NOvember 2024.
Any unspent funds will be returned to the downtown TIF.
