LCDC adopts budget

COEUR d'ALENE - Lake City Development Corp. adopted its fiscal year 2014 budget Wednesday.

The budget calls for LCDC to spend $12.2 million while bringing in $13 million in revenue. LCDC is planning on beginning the fiscal year, Oct. 1, with $3.7 million in hand.

A bulk of the expenditures are from a line of credit the agency agreed to with Washington Trust Bank to pay for McEuen Park reconstruction.

Between its two districts, LCDC expects to receive $5.6 million in tax increment financing in 2014. The board unanimously approved the budget.