Lamar Redevelopment Authority Okays 2023 Budget/Environment Study of Arby’s Site

North Main and Anderson Street

The Lamar Redevelopment Board approved the 2023 budget following a public hearing during its October 10^th meeting.  Funds show a slight increase on property tax operating revenues, comparing the 2022 projected revenue of $180,634 to $190,000 for 2023.  Interest income of $500, coupled with $440 for the Senior Homestead Exemptions, put the projected balance at $190,940, against $181,524 for 2022.

Operating expenditures for the new year are $255,000 with the fund balance for the beginning of 2023 at $644,666 which includes $200,000 for undesignated projects.  The end of year fund balance for 2022 is $644,444 and $580,606 for 2023.

The board also reviewed and approved a proposal for additional site characteristics for the property at 1002 North Main Street, the future site of a proposed Arby’s fast-food franchise.  Lamar Mayor, Kirk Crespin, said two studies have been conducted at the site due to a much earlier fuel spill, apparently from an adjacent business.  The State of Colorado requires this particular study in order to secure a permit for construction.  As many as eight holes will be drilled to study any water flow contamination from past years.  Professional Service Industries was hired for a study this past August and was approved for the site characterization project at $28,365 and should have the study completed between 24 to 37 days.  The new agreement will be reviewed by the City Attorney, Lance Clark.
By Russ Baldwin