The City Council and the Celina Community Development Corporation meet together Tuesday, Oct. 27, to decide where the board's half-cent sales tax should go over the next five years, with a youth sports facility and a rodeo and soccer venue concept among the examples on the list.
The joint meeting begins at 5 p.m. in the council chambers at 112 N. Colorado St. A discussion guide prepared for the session by the city's economic development office says the workshop is expected to run more than two hours, with facilitator Rich Allen, and is meant to produce agreement on three investment categories to rank first.
No project, contract change or borrowing is up for approval.
The money
The corporation, funded by a 0.50% sales tax, began the budget year with about $8.86 million in fund balance, according to the guide. It expects about $4.42 million in revenue after a $188,263 reduction tied to tax increment zone agreements, and about $2.87 million in spending, including $2.34 million in debt payments and $536,000 for an administrative services agreement with the city.
That leaves a projected year-end balance of about $10.4 million.
The existing debt reflects the board's history as a parks funder: payments this year cover 2013 park bonds, the 2019 expansion of Old Celina Park, the 2023 purchase of the Earthman property and the first phase of Wilson Creek Park in 2025.
The city's adopted capital plan already assumes two more borrowings, $20 million in 2027 and $16.7 million in 2028. The guide also models $20 million in each of 2029 and 2030 with no projects assigned, as a test of how much more the board could carry.