City budget up 6%: Affordable housing, parking are priorities
C-VILLE Weekly Wednesday, March 08, 2017 at 8 a.m.
City Manager Maurice Jones presented his $170 million draft budget for fiscal year 2017-2018 at the March 6 City Council meeting, citing the city’s significant growth as a main reason for the 6 percent increase over the current adopted budget.
“City Council and staff have identified two critical areas that must be addressed in order for the city to continue to flourish,” he wrote in his presentation. “Affordable housing and parking. As commercial investment surges in the city, the cost of land increases, thus making it more difficult to build affordable housing.”
Over the next five years, the $171,619,374 budget offers a significant increase in the Affordable Housing Fund, with an extra $800,000 in the first year to total $2.5 million, and an additional $3.4 million per year starting in fiscal year 2019. Specific plans for the money have not been made.
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