Council voted to adopt a reduction in the millage rate from 0.7798 to 0.7550 mills. This is the third year Council has reduced the millage rate, which is the lowest tax rate in all of Southwest Florida.
In addition, they adopted the FY 2018-2019 budget. The proposed expenditures are as follows:
General Fund $ 6,153,640
Special Revenue 1,179,460
Debt Service 1,600,000
Capital Projects 37,099,020
The Village now has 10 months, or $5.1 million, in operating reserves. This reserve fund serves as a “rainy day” fund for unexpected expenditures, such as a response to a disaster.
Resolution 2018 – 06
Council adopted this resolution approving the land purchase along the Estero River. This is 62 acres of land on the northeast corner of Corkscrew Road and US 41 which extends north to Judeth Lane and east to the railroad tracks. This purchase is being conducted in response to residents’ requests to embrace Estero’s historic heritage and protect the environment.
Additional details will be available in the minutes of this meeting. Residents may also view the archived meeting by going to the Village website http://estero-fl.gov/council/watch-meetings-online/.
The next Council meeting will be held at 9:30 a.m. Wednesday, October 3, 2018.