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and Senate approved an omnibus bill which included $80 million annual increase in the LGA. The proposed <br />LGA to Little Canada will be $410,287. Of that proposed 2024 LGA, the City allocated 60% to Fund 400. <br />For 2024, revenues from a Gas Franchise Fee for $75,000 were included ($100,000 for 2025-2033) as well <br />as $100,000 levy for 2024 and 2025. The levy was included to build additional funds that could potentially <br />be used to decrease the total cost of the Community Building CIP project, currently budgeted for 2026 at <br />$2,425,000. Related to the Community Building CIP project, 2026 includes $2,425,000 of revenues that <br />would be generated from bond issuance in relation to the construction of the Community Building. Once <br />the bonding will be issued the City will reallocate the $100,000 levy toward a debt service levy that would <br />be used to pay the annual debt service payment on the $2,425,000 bond. Additional debt service levy <br />would need to be considered since the estimated debt service payments for a 20-year payoff schedule is <br />approximately $200,000. <br />Additionally, Little Canada will lose $72,774 from the last payment of the Cell Tower Lease agreement <br />starting in 2030 with the last payment in 2029. Additionally, the fund will be receiving a donation for <br />$80,000 to Skate Park in 2028 and another transfer of funds from Fund 202 – Cable TV to the amount of <br />$158,750. Furthermore, The PILOT – Painter’s Union will be renewed for another decade to the amount <br />of $10,000 per year. <br />Uses of Funds and future CIP highlights: <br />Administration: The proposed CIP budget for 2024 includes $48,000 <br />•Community Survey $28,000. The last couple completed in 2018 and 2011 <br />•Computers, Network Switches, Phones and a Digital Camera - $20,000 <br />Building Projects: The proposed CIP budget for 2024 includes $294,400 <br />•2024 – City Hall Waterproofing for $150,000 <br />•2024 – Exterior Windows for $52,250 <br />•2024 – City Hall and Fire Hall Keycard access for $34,500 <br />•2025 – Old Fire Hall and History Center Roof for $86,700 <br />•2025 – City Hall Roof $ 95,000 <br />•2025 – History Center Exterior Repairs $40,000 <br />3