Sunday, June 8, 2014
KEY WEST
City adds $100K to project

City commissioners last week approved providing an additional $100,000 of Tax Increment Financing funds to repair two parks in Bahama Village.

The city had already reserved more than $1.1 million for renovations of Nelson English Park and its neighbor, Willie Ward Park. City planners recently said $100,000 more was needed because the project budget hadn't included a contingency fund set up for emergencies.

Due to increasing prices of materials, the city came up $70,000 short and also requested $30,000 as a prudent reserve. Nearly all of the $1.2 million project comes from TIF funding, which is property tax money set aside from Bahama Village homeowners for neighborhood projects.