Fiscal Note
The proposed resolution authorizes the recreation of position #3585 from a Real Estate Development (RED) Specialist 4 (CG 18/R 12) to a RED Specialist 2 (CG 18/R 8) within the Economic Development Division (EDD). The resolution further authorizes the creation of an additional 1.0 FTE RED Specialist 2 position in EDD. The attached memo notes that EDD intends to recruit and underfill both positions at the RED Specialist 1 level. The 2026 Adopted Operating Budget includes $149,476 for salaries and benefits for position #3585. The position is budgeted 100% to Tax Increment District (TID) funds.
The total annual cost of one RED Specialist 1 position is approximately $94,600, including salary and benefits. EDD anticipates the earliest the positions would be filled is May 1. If the two RED Specialist 2 positions are underfilled as RED Specialist 1s and have a May 1 start date, the estimated 2026 cost would be $126,100. EDD has sufficient budget authority to fund the two positions with the vacancy savings from position #3585 in 2026. These costs will be annualized in 2027. During 2027 operating budget development, EDD staff will review actuals from previous years to make adjustments to budgeted payroll allocations to accurately reflect the time real estate staff spend working on capital and TID projects. No additional appropriation needed at this time.
Title
Recreate vacant position #3585 from a 1.0 FTE Real Estate Development Specialist 4 to a 1.0 FTE Real Estate Development Specialist 2 and create a 1.0 FTE Real Estate Development Specialist 2 position within the Economic Development Division Operating Budget.
Body
Resolution recreating the vacant 1.0 FTE position #3585 of Real Estate Development Specialist 4 (CG18, R12) as a 1.0 FTE Real Estate Development Specialist 2 (CG18, R8) position and creating a 1.0 FTE Real Estate Development Specialist 2 position (CG18, R8), within the Economic Development Division Operating Budget, thereof.