During the Financial Report, BIDC director, David Partlow stated that in spite of going over-budget in one line item, he estimates that there will be surplus of about $200,000 at the end of the year.
Partlow also stated that sales tax collection for the month is 27% higher for the year before which brings us to a 5.7% higher collection for the year. “I have no idea why it’s working like that. We should have seen that amount of drop by Walmart and the prison people [leaving].” Partlow stated that this increase is one of the highest he’s ever seen.
After the closure of the ISF was brought up, Board Chairman, Brian Brisendine asked if there was anything that BIDC could to to help the city find a use or tenant for that building. City Manager, Eldon Jobe, stated that the company that left is currently helping with that because of their connections within the corrections industry.
During the discussion about the 2017-2018 budget, Partlow presented a proposed budget of $810,166.
Included in that budget, Partlow proposed the purchase of software that would allow BIDC to conduct impact studies on prospective companies. This software would cost $4,500. The board questioned the likelihood of having to conduct very many studies in one year. It was decided that the software would be removed from the budget due to the fact that these impact studies can be conducted for $1000 per company.
An anticipated loan of $130,000 loan to the TIF/TIRZ (Tax Increment Reinvestment Zone) board was also discussed. This loan would take place during the 2016-2017 budget and the 2017-2018 budget. The TIRZ board is using this money to purchase property downtown and start construction on a Community Center/Pocket Park. This will be an outdoor venue with seating and a stage just off the square.
The budget will still have to be approved by City Council.