Fiscal Note
The resolution establishes a $300,000 Williamson Street Business Stabilization program. The proposed funding sources are:
- $200,000 from Contingent Reserve
- $75,000 from underspending in the DPCED Office of the Director Budget
- $25,000 from underspending in the DPCED EDD Budget
The mid-year appropriation resolution (Legistar File 94055) included a projection of agency spending through the end of 2026. At that time, EDD was projected to underspend their total budget by approximately $25,000 from salaries, benefits, and purchased services. The resolution would transfer $15,700 in underspending in salaries and benefits to purchased services. The DPCED Office of the Director was projected to underspend their total budget by approximately $90,500 in benefits and purchased services. The resolution transfers $75,000 from DPCED Office of the Director to EDD.
The 2026 adopted budget includes $2,150,408 in contingent reserve that may be reallocated to various agencies throughout the year to fund unanticipated expenses or revenue shortfalls. Legistar file 92053 transferred $70,000 from contingent reserve to utilities to fund MadCAP, a comprehensive customer assistance program for the City’s municipal services bill. Legistar file 94055 transferred $100,000 to Engineering for a projected deficit in facility maintenance costs and $400,000 to the Clerk’s office for a projected deficit in purchased services and supplies for elections operations. The remaining balance is $1,580,408. If this resolution is adopted, $200,000 would be transferred to EDD, leaving a remaining balance of $1,380,408.
Title
Amending the 2026 Economic Development Division (EDD) Operating Budget by transferring $200,000 from contingent reserve and $75,000 from other agency budgets to EDD and authorizing intra-departmental transfers within EDD, approving program materials, and authorizing the Economic Development Division to administer a Williamson Street Business Stabilization Support Pro...
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