Lakewood Ranch IDA approves budget increase

The Lakewood Ranch Inter-District Authority has been setting aside money in reserves — or savings — for years, in anticipation of repairs and improvements to its facilities and systems.

In approving its 2015 Fiscal Year budget Thursday May 15, the IDA board finally authorized Lakewood Ranch Town Hall finance staff to dip into those reserves, a spending strategy that is likely to continue over the next few years.  

The 2015 Fiscal Year Budget, which the board still must vote to adopt at a July 17 public hearing, is 5.4% larger than last year’s, requiring the spending of $100,000 in reserves. 

“All of the increase is either due to infrastructure improvements or district-wide community connectivity issues,” said Thomas Green, IDA chairman. “We need to do these things to keep the value of our assets up to snub. We can’t let this building (Lakewood Ranch Town Hall) or this community deteriorate.”

See more on this story in the May 22 East County Observer.

Contact Josh Siegel at [email protected].