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<br />May 23, 2005 <br /> <br />Mr. Roop also discussed the need for shell buildings for city economic <br />developers to market to clients. Mayor Cobbe said that is the Martinsville-Henry County <br />Economic Development Corporation's responsibility to determine. Mr. Roop replied that <br />the city should use its fund balance to promote the city. <br />Mr. Clark and Mr. Ferrill shared ideas for economic development, including <br />keeping Rives Road Industrial Park developable and at the use of empty buildings and <br />lots in the city for growth and development. Mr. Ferrill asked about progress on <br />substandard housing improvements and demolitions. <br />Council held a lengthy discussion on fund balances. Mr. Cobbe said that with two <br />exceptions (electric wholesale purchase cost increases and a federal grant for new <br />firefighters), the Fiscal 2006 budget is a great budget that meets the city's goals. <br />Mr. Roop asked staff to explain why the budget calls for decreases In the <br />cigarette tax. Finance Director Wade Bartlett explained the decrease is due to staged <br />sales to cigarette wholesalers, and that the first year of cigarette taxation was an <br />anomaly that should stabilize in Fiscal 2006. Mr. Bartlett also explained to Council that <br />EMS billing was behind schedule due to certifications with insurance companies. <br />Mayor Cobbe explained that the Fiscal 2006 budget has two major challenges: <br />electricity cost increases and the end of refuse disposal revenues. <br />Council discussed demolition funds for substandard housing, and Mr. Collins <br />indicated that if current funds are inadequate, staff will request an additional <br />appropriation in Fiscal 2006. <br />Mr. Roop asked about park maintenance funds. The Leisure Services <br />department is renewing its five-year improvement program to keep parks updated. <br />