The city of Bexley's 2020 budget currently shows revenues outpacing expenditures and includes funding to continue a program designed to promote redevelopment in the Ferndale Place/Mayfield Place neighborhood in southwest Bexley, according to the draft of the budget that City Council members and Mayor Ben Kessler discussed Oct. 29.

Council gave a second reading to the budget Nov. 12.

The draft budget, as revised Nov. 12, projects an estimated $15.38 million in 2020 operating revenue and $14.65 million in total operating expenditures.

Estimated revenue includes $13 million in city income tax, $420,000 from the state's local government fund, $200,000 in interest payments, $416,000 in building permits, $200,000 in franchise fees, $165,000 in grants, $170,000 from the Bexley Community Improvement Corp. and $250,000 in miscellaneous revenue.

Expenditures again include a $130,000 transfer to the CIC to continue the redevelopment program in the Ferndale Place/Mayfield Place neighborhood.

Through the program, the CIC acquires properties in the area as they become available, renovates them and eventually sells them back to private owners.

The city most recently acquired two properties in the Ferndale/Mayfield neighborhood in 2017. The city is in the process of remediating environmental contamination at the two properties, located at 941 Ferndale Place and 945 Ferndale Place.

The city is exploring options on what to do with the properties once the remediation is complete, including researching the properties that are eligible for an affordable housing program administered by the Ohio Housing Finance Agency, Kessler said at the CIC's Nov. 5 meeting. Kessler suggested that an OHFA representative meet with CIC members to outline how the program could be applied to the Ferndale/Mayfield properties.

"We should set up a meeting sometime in the coming weeks," Kessler said.

Section 26 of the city's charter requires City Council to adopt an operating budget for the next fiscal year on or before Dec. 31 and to adopt an appropriation ordinance authoring an appropriation for each program or activity by department or major organizational unit. Discussion of the budget was scheduled to continue at council's Nov. 12 meeting. The next meeting is scheduled for 6 p.m. Nov. 26 at City Hall, 2242 E. Main St.