City of Lead saves another $127K

LEAD — The city of Lead has moved another $127,000 into savings.

On Monday, Lead City Commissioners authorized moving $127,700 in sales tax overages into its development reserve fund, which is being set aside for future special projects in the city. So far, the amount saved from sales tax overages has been more than $569,881.

The city established the development reserve fund this year as a way to save money from sales tax collected that is over and above the $900,000 budgeted.

Additionally, the city put $140,000 into its parks reserve fund. The money comes from grants and donations that have been made to support construction of a new skatepark. So far, the city has received $50,000 from Coeur Wharf, a $50,000 donation from the Coeur Wharf Sustainable Prosperity Fund, $500 from the Walt Green Foundation, $39,000 from Kiewit Alberici Joint Venture, and $500 from the Lead-Deadwood Community Foundation, for the proposed skatepark with an estimated price tag of $250,000 to $300,000.

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