Rockville’s $365 million town center project is reflected strongly in the city’s proposed fiscal 2008 budget, which is up 9 percent over the current one.
According to Finance Director Gavin Cohen, the city’s general fund is up about 9 percent for next year, mainly because property assessments are on the rise and “Rockville is still reaping the benefits.”
The budget is about two months from approval and could change based on public hearings.
However, as recommended by the city manager and other financial leaders, the dominant expense surge comes from personnel costs, with a 7 percent suggested increase.
Cohen said that city leaders ask for Rockville’s work force to grow to about 544 full-time equivalents, which would be a dozen more than the total this fiscal year.
Other major increases in next year’s budget tend to be associated with the long-awaited town center project, designed to modernize the city’s downtown. Cohen said that the city will pay out $600,000 to the firm charged with managing the plaza and town center area.
With more shoppers and residents comes the need for parking. Nearly $3.8 million is budgeted for parking expenditures, which Cohen said does not take the maintenance contract for the facilities into account. The hope is to open three garages by the summer with more than 1,000 spaces total.
The finance director said the city also has budgeted nearly $1 million in general fund money for parking.
“There may not be sufficient revenues, so we set aside extra money,” Cohen said.
In terms of taxes, the budget keeps residents’ rate at 31.2 cents per $100 of assessed values.
Other fees that will jump in the next fiscal year, though, are sewer — at a 5 percent recommended increase — and potentially refuse, a topic still being resolved.
To view the proposed budget online, visit www.rockvillemd.gov.
