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Battle Creek Downtown Development Authority FY 2013-14 Budget

Battle Creek Downtown Development Authority FY 2013-14 Budget

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Published by Jennifer Bowman
The FY 2013-14 budget for the city of Battle Creek's downtown development authority.
The FY 2013-14 budget for the city of Battle Creek's downtown development authority.

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Published by: Jennifer Bowman on Oct 16, 2013
Copyright:Attribution Non-commercial


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Battle Creek Downtown Development Authority2013/2014 Budget Analysis
BCDDA tax increment property tax revenue breaks down as follows with prior year
comparative amounts:
FY 13/14
Y 12/13Taxes Captured
School Operating/SET $
,432,915A projected $151,960 decrease in property tax revenue for next year results from a decline in
commercial and industrial property values in the district.
Interest earnings is based on fund balance and expected rates of return.
Rent revenue is the $300 monthly amount for the VOCES lease.
Debt service
to be paid on the 2013 Pipeline Bonds (anticipated to be issued in early summer 2013).
This bond issue was originally issued in 1994 to fund several projects within the district including Full
Blast and the Emmett Street overpass on the east end of the City. The 2008 Justice Center refundingbond issue which represented the DDA's portion of debt used to construct the Justice Center was paid
off in 2012. The DDA portion of the Capital Improvement Bonds to be issued in 2013 is estimated to be
$240,000 for the year ending 6/30/14.
Represents costs for audit and legal services as well as a small amount for building
maintenance.Central Business District Maintenance and Preservation represents personnel and equipment chargesfor maintaining and preserving the newly revitalized downtown including sweeping, snow removal fromstreets and sidewalks, and in kind support for festivals and events.
Kellogg Arena Support
provides an operational subsidy to the Cereal City Development Corporation
(CCDC) for management of the Kellogg Arena. This subsidy has been provided since the early 1990's andhas varied in amount over the past 15 years. For FY 2014, CCDC has requested $300,000 to meet itscash flow needs in operating the Kellogg Arena.
Downtown Business Partnership/BCU
provides funding for downtown development activities based ona contract for services. Funding for next fiscal year is proposed remain the same as the current fiscal

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