FY17 Budget – Investing in job creation, lowering taxes, POL, June 8, 2016
[vc_row][vc_column][vc_column_text]FOR IMMEDIATE RELEASE
June 8, 2016
CONTACT: David Doeringsfeld, Port of Lewiston Manager
(Lewiston, ID) – Following a public hearing on Wednesday, June 8, Port of Lewiston Commissioners approved a $2,717,193 Expense Budget for Fiscal Year 2017, which runs July 1, 2016 – June 30, 2017.
The budget includes $822,593 for Port Operation Expenses and $1,894,600 for Economic Development Expenses.
The Port is increasing investments this year aimed at job creation and economic development. One focal project is the continued construction of a dark fiber optic cable network, which will help telecommunications providers offer better Internet access and redundancy to residents and businesses.
Other major projects slated for FY17 include work to prepare approximately 18 acres in Harry Wall Industrial Park (including the former EKO site) as shovel-ready ground open for business investments, remodeling Suite D of the business incubator building so it is accessible to smaller manufacturing start-ups and design for a new business incubator building.
“With every budget, it is our goal to achieve balance between being fiscally conservative and making strong investments toward economic prosperity,” said Port of Lewiston Commission President Mike Thomason.
Port of Lewiston Commissioners voted to lower taxes in addition to increasing expenses toward job creation. This is possible thanks to the Port’s healthy financial position.
The FY17 Budget reduces the tax levy rate by approximately 5.9 percent from the previous year. The FY17 tax levy rate will generate an estimated $405,000 for economic development. Last year’s levy was budgeted at $420,000.
From FY1990 to FY2016, the property tax levy rate has dropped by 64.3 percent. The property tax paid to the Port by an average Lewiston homeowner is less than $16 per year.
Also approved at the June 8 meeting was the FY16 Amended Budget, totaling $2,065,574.
“FY16 was a big success, including the installation of 3.7 miles of fiber optic cable and resumed container-on-barge service for our regional farmers,” said Thomason. “We appreciate the public comments received during our budget hearing and look forward to exciting economic development projects in FY17.”
View the Port of Lewiston FY17 Budget and past Budgets: http://portoflewiston.com/about/budgetaudits/.[/vc_column_text][vc_empty_space][vc_single_image image=”7332″ img_size=”large” alignment=”center”][vc_column_text]ECONOMIC DEVELOPMENT EXPENSES
PORT OPERATIONAL EXPENSES
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