BOMA adopts $8.8 million capital plan in FY27 budget
Farragut Board of Mayor and Aldermen unanimously approved, on final reading, its fiscal year 2026-27 budget during its meeting Thursday, May 28.
However, resident Kimberlie Parks again questioned the need for an economic development position, as she had during the May 14 meeting when the budget passed on first reading.
“We had a business liaison function, and the staff eliminated it during staff reorganization last year,” she said. “What changed?
“Please show the public why we need this position. What kind of measurement are you going to create for this role?” Parks asked.
During a May 7 Board meeting, Alderman Alex Cain also questioned the need for the position, but he made no comment about it at the May 28 meeting.
“The economic coordinator position has been the topic of Board discussions many, many times,” Alderman Joe LaCroix said. “The direction from the Board is policy, so we would like to see that position created.
“The key performance indicator is going to be built into the description in this administrative role that goes through Mr. Smoak’s area of control,” he said. “Just as you don’t see the KPIs for the other positions that we talk about — the engineers or Community Development — that’s an administrative piece.”
Parks responded that the comments did not answer why the position was needed.
During the May 7 meeting, Vice Mayor Scott Meyer said he believes there has been a “discombobulated effort for business development in Farragut for a while.”
“I think this position meets that need,” Meyer said.
He said the position would serve as a point of contact for businesses seeking assistance navigating Town departments.
In addition to the $115,936 annual cost of adding an economic development director, the budget includes $8,778,000 in Capital Investment Plan projects for FY27. Those projects include upgrades to various park facilities; design and engineering for improvements to McFee Road and the entrance to the McFee Road property; construction of improvements to various streets and crosswalks for the new Farragut Elementary School; intersection improvements at Grigsby Chapel Road and St. John Court; construction of a roundabout on Watt Road at the southern entrance to Mayor Bob Leonard Park; and adaptive traffic signal upgrades throughout Farragut.
“By far the largest of our CIP funding next year, and in the future, is going into transportation and infrastructure projects,” Town Administrator David Smoak said. “The total next year is planned at $6,427,000.”
Projects include a traffic signal at the intersection of North Campbell Station Road and Jamestowne Boulevard, Turkey Creek Road multi-modal improvements, the Watt Road roundabout and additional street lighting throughout the town.
Smoak also reported several changes made to the budget since May 14:
• Additional travel and training budget for economic development, $5,000.
• Additional funding for Farragut Business Alliance/Shop Farragut, $15,000.
• Information Technology: additional ERP software and maintenance costs, $5,000, and fire inspection software, $1,500.
• Community Development: additional funding to complete a scanning project, $30,000.
• Additional text-based subscription costs for the Communications Department, $4,000.
• Additional contingency for major building repairs, $100,000.
• All departments: long-term disability, dental insurance and group life insurance increases, $10,700.
The additional expenditures total $171,200.
The budget also includes $15,000 in expenses for the Red Mill Dam project and an additional $150,000 for Americans with Disabilities Act-related expenses.
