Title
RESOLUTION TO ADOPT THE FISCAL YEAR 2026 DDA BUDGET
Memorandum
In March, the DDA Board put forward the proposed FY26 and FY27 budgets for City Council's consideration. City process calls for the development of multi-year budgets. Only one fiscal year may be adopted at a time by state law. FY26 is the 1st year of the two-year budget cycle.
Staff submitted the DDA FY26 budget to City Council in March. In May, City Council held public hearings and approved the City's comprehensive budget which includes the DDA Budget as put forward by the DDA. City Council's approval is required by Public Act 57 of 2018. The final step in the DDA's budget process is the adoption of the budget by the DDA Board.
DDA Board Budget Adoption - The Resolution to Adopt the FY26 Budget is presented for the Board's consideration.
Body
Whereas, PA 57 of 2018 requires that the Director of the Authority will prepare and submit for the approval of the DDA Board a budget for the operation of the Authority for the ensuing fiscal year;
Whereas, The statute also requires that the budget be prepared in the manner and contain the information required of municipal departments;
Whereas, The DDA has submitted its FY26-FY31 capital improvement items for inclusion in the City of Ann Arbor's Capital Improvement Plan and that Plan has been approved by the Planning Commission for inclusion in the FY26 Budget;
Whereas, The DDA Board has reviewed the DDA's updated Ten-Year Plan which includes long range capital improvements, debt service, parking operations, and which details the financial assumptions that have gone into that Plan;
Whereas, Before the budget may be adopted by the board, the statute requires that it be approved by the governing body of the municipality, and in March the DDA Board did review the FY26 Budget and did approve putting it forward to City Council, and DDA staff did submit the Budget to City Council and City Council did hold the required public hearings and did appr...
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