2/28/13 - Last night the Howell Main Street and Downtown Development Authority Board discussed ways to reduce its expected budget deficit for the next fiscal year. The authority will have about $370,000 in revenue during the budget year that begins on July 1st, but it will also have about $750,000 in expenses. The difference will be covered by the DDAâs existing fund balance as well as a loan from the city, but the board still needs to cut about $20,000 from the budget before July. At a work session last night the board discussed what would end up on the chopping block. The most likely candidate was an art contest started this year that had residents voting on the work of local artists striving to be recreated and posted around the city. Removing that program would save roughly $10,000. DDA Director Diane Larkin tells WHMI that the $140,000 loan from the city government could be used to renovate the city-owned 118 West Clinton Street. That building could then be used as the new DDA headquarters, saving the authority lease costs on its current North State Street location. Larkin says DDA funding took a big hit in recent years due to the reduced tax revenues brought about by the Great Recession. The deficit will continue to be a topic of discussion for the DDA Board until the end of the current budget year. (TD)
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