ANNUAL SYNOPSIS OF ACTIVITIES OF THE DDA
Tax Increment Revenues
At the end of Fiscal Year 2018, the DDA had a Fund Balance of $995,562 of which $149,607 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 2019 bond payment will be $231,510.
List of DDA Accomplishments, Projects, and Investments
- In 2018, the DDA contributed $50,000 towards construction of the Lake Bancroft Pavilion. The DDA also has another $250,000 in restricted Fund Balance to be used toward the Pavilion project in Fiscal Year 2019.
- Beautification of the core downtown district has been a priority for the DDA. In 2018, the DDA expended $14,500 in its beautification efforts. The DDA has budgeted an additional $18,830 for beautification for 2019.
- In 2011, the DDA issued a Capital Improvement Bond to fund the construction of Malton Road with the expectation of future growth and economic development. The majority of the DDA’s revenues are currently being put toward this bond payment.
List of DDA Events
Currently the DDA has no events schedule.