Council finalizes LDFA dissolution

May 8, 2014 —

The Hudson City Council Tuesday evening took the final steps in dissolving the Local Development Finance Authority, which has overseen the development of the Industrial Park since the 1980s.

The council voted in March to end the tax increment financing that has paid for the development of the park, and which the LDFA administered. The LDFA agreed at a meeting last month to dissolve; the council accepted their recommendation, and the board will be ended with the end of the fiscal year on June 30.

In other business at Tuesday night’s meeting, the Council:
• Approved a resolution honoring Marine Staff Sergeant Timothy Williams, who will be honored in ceremonies at the Hudson High School on Memorial Day.
• Authorized new street lighting on Steger Industrial Drive
• Accepted a proposal for design of a new city gateway sign.
• Approved payment for final items on Pleasant Street Phase 1 reconstruction.

The council also worked on the budget for the next fiscal year, including adding resurfacing on roads in Sunrise Meadows, to be done by the Road Commission. The council anticipates an increase in the fund balance of about $50,000.