Downtown Investment Authority (including Public Parking and Downtown Economic Development Fund) - 45 Minutes

Finance Committee - Budget Hearings · 2026-08-21 · agenda_item

This item concerns budget hearings for the Downtown Investment Authority, the Downtown Economic Development Fund, and the Public Parking Fund. The Finance Committee is reviewing these budgets, with no specific recommendations made at this time. Discussions included downtown parking vendor contracts and the recent Request for Proposals (RFP) for a new parking management vendor. There was also a question about the pressure washing of streets and buildings downtown and the revenue impact of bagged parking meters, with information provided that developers pay the cost to bag a meter. This review stage means that future decisions on funding and projects could be made. Businesses involved in site preparation, grading, paving, building maintenance, and general contracting may find opportunities as these funds are allocated and projects are initiated. Early engagement with the Downtown Investment Authority could provide insight into upcoming needs.