A parade of local business leaders on Tuesday urged Republican City Council members against using some of a $75 million nest egg to balance next year’s city budget without raising taxes.
Repeating one another almost verbatim, about half a dozen officials with the Greater Fort Wayne Chamber of Commerce, the Fort Wayne-Allen County Economic Development Alliance and other agencies approached council to speak against putting any of the “Legacy” fund – created from the lease and sale of the old City Light utility – toward property tax relief.
“We’d like to see those funds used for things that really attract long-term residents and visitors to our city,” said Visit Fort Wayne board member Gary Shearer. “To use that capital for filling budget holes would be to squander that money.”
Tuesday was the public hearing on Mayor Tom Henry’s proposed 2013 budget, which would raise taxes on most property owners by about 6 percent to fill a $6 million gap in the spending plan.
At least three council Republicans have suggested that the city might use some of the Legacy fund to avoid the tax increase. The only other options would be to cut several million dollars from the budget or tap the city’s dwindling savings.
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