Martinsville councilors are set to determine the future of a possible land deal that could result in a broadband expansion at their Tuesday evening regular session at the Municipal Building.
The project continues talks from the council’s April 29 community meeting. The project entails subdividing and conveying a parcel of land to Mid-Atlantic Broadband for the purpose of expanding broadband to the area.
The 2.5-acre parcel is located at 302 Clearview Drive and is part of a larger parcel totaling 18 acres. Current plans would combine the 2.5-acre parcel with an additional 4.2-acre parcel before conveying it to Mid-Atlantic Broadband.
“The proposed transaction is intended to promote the expansion of broadband telecommunications in the city and promote economic development by allowing MBC to expand its facilities,” reads information from the city.
Councilors will also decide on scheduling for the second reading of the 2025-2026 fiscal year budget.
The second reading is part of the process to finalize a budget in time for the July 1 start of the new fiscal year.
Currently, the budget projects revenues outpacing expenditures at a respective $117.2 million and $116.6 million.
The budget’s general fund makes up the largest portion of the budget. This year, the fund is projected to make $37.5 million with related expenditures totaling $37.5 million.
Currently, the schools’ operating budget remains at a fixed $29.4 million.
Property tax rates for the upcoming fiscal year are projected at 75 cents per $100 valuation.
The current fiscal year ends June 30.
