NURA 2006 Budget

The Urban Renewal Authority is estimated to receive $1,705,000 in property taxes during 2006. (Its only source of revenue other than interest.) The Authority's Board has approved the recommendations of the Executive Director/City Manager. He asked them to make the first of two payments to Jordan Permutter for the property adjacent to 112th and York. $365,000 In 2007 the second payment by NURA will be $375,000.

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His second request is for $700,000 for site improvements in new redevelopment areas such as the 120th and Grant site. The improvements are City public works activities related to the street and intersection.

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The last major expense is the next to last repayment to the City for fronting money used in the development of the Marketplace. $669,663

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The total is $1,734,663 or $29,663 more than the property tax revenue.