WHAT IT IS
New revenue from a growing tax base — called assessment growth funding — is permanent (as opposed to one-time) funding that can be baked into city hall’s budget for future years. It pays for growth across different city departments and agencies, such as new fire stations and expanding public transit. Any surplus funding is split evenly, with half used to pay down debt, and the other half going to a reserve fund for repairs and upgrades on city assets, such as roads and bridges, unless council decides to buck its policy and use the cash in another way. City council is expected to approve this year’s spending later this month.