MEDC board approves FY2026–27 budget, cites sales-tax as primary revenue source

The Mansfield Economic Development Corporation board approved its FY2026–27 budget as presented, voting seven to zero to adopt the plan that the city comptroller said is driven primarily by sales-tax revenue. The budget presentation noted a projected total revenue figure of $12,976,000 and highlighted ongoing project expenditures and a carryover item for Infiniti Sound.

City comptroller Troy, who delivered the budget, said the plan is largely sales-tax dependent and pointed to a recent large retail opening that will add to receipts next year. He said the board should not yet assume certain tax-increment receipts are budgeted: "Next year, we anticipate, right now between $300,000 to $400,000 of income coming into the TERS, until we're able to verify those things," Troy said, indicating those receipts will be considered in later budget cycles. The board voted to approve the FY2026–27 MEDC budget; public record shows the vote as seven in favor, none opposed.

The comptroller told the board the budget previously had been presented at the city council's public hearings; staff noted the council's second public hearing and vote on the broader city tax rate and budget is scheduled for Sept. 14. The adoption by the MEDC board finalizes the corporation's spending plan for the coming fiscal year while leaving certain TERS/TIRS-related receipts to be verified and incorporated in future budgets.