COEUR d'ALENE - Lake City Development Corp. adopted its fiscalyear 2012 budget Wednesday.

In the plan, the urban renewal agency penciled in borrowing around $6.4 million to help fund anticipated capital projects, eyeing around $3 million of that total to go to the McEuen Field redevelopment project.

The proposed budget anticipates collecting $5.1 million in tax increment revenue between its two districts. The $6.4 million would be taken from the roughly $16 million the agency borrowed from Washington Trust Bank for projects inside its Lake District, in which the downtown park sits.

The agency will hold a special meeting at noon Aug. 25 at the Coeur d'Alene Chamber of Commerce building to work toward finalizing the Washington Trust Bank deal.

In all, adding tax revenues and the borrowed amount totals more than $11 million in total revenues for the year, and the agency expects to spend roughly $13.7 million.

With an anticipated starting balance of $6.6 million, LCDC still expects to close the year with $4.7 million in hand.

The budget also includes dropping the agency's contribution percentage to public art from 3 percent to 2 percent, and allocating $2.5 million to the North Idaho Centennial Trail Foundation debt obligations.

The fiscal year begins Oct. 1.