Morgan's redevelopment agency took in $352,795 in tax increment and spent $660,263 in fiscal 2025

Morgan City's redevelopment agency is reported in the city's audit as a blended component unit. The city receives tax increment revenue for the redevelopment fund, a special revenue fund. ^[3]

In fiscal 2025 the agency fund took in $355,904, including $352,795 in taxes, and spent $660,263. Its fund balance fell from $810,797 to $506,438. ^[1]

Where the money went

The budget report breaks down the fiscal 2025 spending: $302,774.60 in business loans and grants, $266,537.16 in capital outlay, $58,393.76 to the school district, $15,379.45 to Morgan County and $10,897.69 to the city's General Fund. ^[2]

In fiscal 2024 the agency also received a $412,414 transfer from the General Fund and spent $221,920.74. ^[2]

Fiscal 2026 and 2027

The fiscal 2026 amended budget appropriated $657,500 of the agency's fund balance. Its year-to-date actual column, printed July 31, 2026, lists $835,868.17 in capital outlay, $150,000 in business loans and grants and $1,073,432.86 in total spending. On the revenue side it lists $327,643.75 in tax increment and $250,000 in business or loan payments. ^[2]

The fiscal 2027 budget lists $350,000 in tax increment, $94,000 in capital outlay and $150,000 in business loans and grants, with no appropriation from fund balance. ^[2]