We have good news!
On July 9, the City Council’s voted to help keep our red doors open. Here’s how it breaks down:
The City will provide $15,000 in Tax Increment Financing (TIF) revenues to support the Hubbard in strategic planning, purchasing fundraising software, and our ability to work with a (very part-time) grant writer. Using the TIF revenues does not add to the city budget nor affect the property tax rate.
The City will increase its contribution by adding another $15,000 to the $27,000 it has allocated historically to the Hubbard. This will help by reducing the projected $33.000 operating budget deficit to about $18,000 in FY 2019.
The additional funds will be a great help to the Hubbard going forward and we appreciate the City Council’s efforts and vote to support our Second Street jewel.
Filling the $18,000 deficit will be very challenging. While the deficit is considerably smaller than it might have been without the city’s help, finding this extra revenue will require us all to think creatively about how to work together to keep the Hubbard’s red doors open.
The Trustees welcome and encourage your involvement in this process. Thank you for your financial and moral support throughout this past year. We couldn’t – and can’t – do it without you.
Ken Young
President
Board of Trustees
