The Downtown Development District presented its 2021 budget Tuesday, which calls on the organization to spend $912,230 in the upcoming year.
The figure includes the $812,230 budget and an additional $100,000 the DDD wants to spend out of its existing fund balance on four capital projects: visitor amenities for Riverfront Plaza, including an outdoor meeting and conference area; downtown interstate gateway enhancements, which include lighting and signage for 440 parking spots under Interstate 110; River Road pedestrian improvements, which include landscaping and informational kiosks; and arts and entertainment beautification and streetscape improvements, which includes signage for Third Street.
The DDD currently has $505,920 in its fund balance.
Davis Rhorer, executive director of the DDD, said the capital projects are all part of the organization’s master plan. The goal is to use the $100,000 as a match for various state and federal grants.
The DDD budgeted spending $762,590 for the current year and is on track to spend $838,482, after property tax collections came in ahead of expectations.
“We were having 1,000 events per year downtown,” Rhorer said. “That’s stopped now because of the pandemic, but it will start picking up again.”
The DDD is set to vote on the 2021 budget at its next meeting, set for November 10. It will then be sent to the Metro Council for final approval.