WILMINGTON, NC — Wilmington City Council approved the first of two votes on the upcoming fiscal year budget.
The city also held a public hearing on the recommended budget, where only four people attended, three of which were from city-partner agencies.
The $86 million general fund budget includes a three-cent tax increase to help fund maintenance and infrastructure projects. If approved, the funds would be put into a separate account to pay for a five-year maintenance plan that could not be used for anything else. The plan also includes an 8 cents-per-$100 valuation tax rate increase, which would help the city become revenue neutral after recent property revaluations.
Before taking a final vote, council members say some changes will be made. Councilman Kevin O’Grady says several capital improvement projects will start sooner than planned.
“We’re changing the program so that you’ll get to see the progress and get to see it quicker, so be aware that there is a much more accelerated capital projects program than was in the materials that you’re seeing for tonight’s meeting,” O’Grady says.
Council will hold a work session Wednesday at 9 a.m., during which councilman Charlie Rivenbark wants to discuss fees that would help fund improvements to recreation services.
A second and final vote on the budget is scheduled for the June 19th council meeting.