The Downtown Development District Board of Commissioners easily approved the organization’s 2015 budget Thursday.
There was no discussion about the $641,150 budget, which calls for a 1.4 percent spending increase from the current budget. The budget was introduced at last month’s DDD meeting.
“Downtown is growing much more than this budget is,” said Commissioner Derrell Cohoon.
Revenue from the 10-mill property tax that provides the biggest source of funding for the organization is expected to increase by 2 percent from $487,730 to $497,650.
The increase in spending is attributed to a 1.8 percent increase in salaries for the five DDD employees, which will go from $335,170 to $341,330, and more for employee benefits, such as health insurance and retirement contributions.
Benefit spending is set to go up 6.7 percent from $139,450 to $148,720.