2027 Overview

• 819 eligible parcels.
• Per state law, the billed EED assessment cannot exceed $5.5 million. This capped the assessed value (AV) at $3.64 billion across the 819 parcels.

2027 Parcel AV Change

A map was shared at the meeting showing which parcels will see an increase or decrease in assessed value for 2027. (Map graphic not included in this text summary — available from the original meeting materials.)

What Is EED's 2027 Budget?

$5.5 million is the total amount collected. However, successful tax appeals result in EED fees being returned to parcel owners. For 2027, EED is budgeting $0.4 million in expected returns, resulting in a net budget of $5.1 million. A graphic illustrating this process was shown at the meeting (not included in this text summary).

Key Changes/Highlights to the 2027 Budget

Low Barrier Shelter Team Update

• The team is hopeful to go vertical with steel beams in October, which would keep the project on track for a 2027 opening.
• Parking lots were originally scheduled to be installed in September, but the team is struggling to source gravel for the parking lot foundation — recent rainfall has filled up the quarries. Completed parking lots would make the jobsite less muddy and messy.

IMPD Downtown District Commander Shane Foley — Update

• The $100,000 in public safety technology funding includes improved drone technology. Drones continue to be a valuable tool for police departments nationwide; Commander Foley shared examples of how they would benefit the downtown district.