ANNUAL SYNOPSIS OF ACTIVITIES OF THE DDA
Tax Increment Revenues
At the end of Fiscal Year 2020, the DDA had a Fund Balance of $716,079 of which $194,619 was unassigned and available for use. The unassigned portion of the DDA Fund Balance is anticipated to be used toward the annual bond payment on the 2011 Capital Improvement Bond. The 2011 Capital Improvement Bond was refunded in June 2021 into the 2021 Limited Tax General Obligation Refunding Bonds. The 2021 bond principal and interest payments total $206,319.
List of DDA Accomplishments, Projects, and Investments
- In 2011, the DDA, through bonding, funded the construction of Malton Road with the expectation of future growth and economic development.
- In 2019, the DDA contributed $300,000 towards the construction of the Lake Bancroft Pavilion
- Beautification of the core downtown district has been a priority for the DDA. In 2020, the DDA expended $16,550 in its beautification efforts. The DDA has budgeted an additional $16,820 for beautification in 2021.
- In March 2021, the DDA accepted a bid in the amount of $11,500 from American Ramp Company to design a skate park within the downtown.
- In April 2021, the DDA budgeted for and awarded three grants to local businesses totaling $20,000 for façade improvements.
List of DDA Events
Currently, the DDA has no events scheduled.