The Downtown Development District Board of Commissioners this morning unanimously approved the agency’s $812,230 budget request for 2021, a 6.7% increase over its current budget.
The increase, up from $762,590, is based on this year’s actual income of more than $800,000 but also balances against potential future financial impacts from the novel coronavirus, DDD Executive Director Davis Rhorer said last month. The agency is currently on track to spend $838,482 this year.
As in previous years, the DDD budget is supplemented by the city-parish general fund, an amount expected to be $138,230 in 2021. The supplementary cash is the same amount the organization received this year, but below the $142,500 it got in 2019.
According to budget documents, the DDD will increase its 2021 expenditure by $100,000 for the design and construction of various capital projects in the downtown area. Those projects include visitor amenities to the Riverfront Plaza, Downtown Interstate Gateway enhancements and River Road pedestrian improvements.