The City of Denison has extended the deadline for sealed bids for two city-owned lots located on Oak Ridge Drive near the intersection with Medical Parkway on the west side of the community.

The deadline for Lots 48 and 49 in Oak Ridge Heights had previously been on April 23, but no sealed bids had been received by the 11:59 a.m. deadline, it was reported at last week Tuesday’s special city council meeting.

The new deadline to receive sealed bids is on June 10.

Under the request for bids, a minimum bid of $1,000 is required.

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Other stipulations of the request for bids are the following.

• A structure must be started within 12 months from the date of closing.

• The structure must be built and completed within two years from the date of closing.

• A licensed and bonded contractor/builder must be hired for the construction of the residential structure.

• A statement of intent to build a new residential dwelling and a simple site plan or sketch of the new house or houses should show that all new one-family dwellings should have a minimum of 1,600 square feet of living area excusing basements, breezeways and garages; and that all one-family dwellings have a minimum of a two-stall garage that is a minimum of 18 feet by 20 feet.

• The successful bidder on the lot or lots must execute a purchase agreement on a form prepared and approved by the City of Denison.

Lot 48 is a rectangular-shaped lot and Lot 49 is a triangular-shaped lot.

In other action last Tuesday, the city council conducted a public hearing and approved the 2024-2025 budget, which goes into effect on July 1 this year.

The regular property-tax levy is $18.86269 per $1,000 assessed valuation, which is lower than the current year’s regular levy of $19.05138.

The estimate of property taxes to be collected is $5.2 million and total revenue and other sources are estimated at $12.5 million. Both figures are higher than the re-estimated figures for the current fiscal year. For 2023-2024, the estimate of property taxes to be collected is $4.7 million and the total revenue and other sources are estimated at $10.8 million.

In fiscal year 2022-2023, property taxes collected were $4.7 million but the total revenues and other sources were higher at $14.9 million.

For fiscal year 2024-2025, all expenditures and transfers out are estimated at $12.3 million, higher than in fiscal year 2023-2024 ($11.3 million) but lower than in fiscal year 2022-2023 ($14.1 million).

The city budget for 2024-2025 will be a positive one, with just more than $230,000 being added to the fund balance. In the current fiscal year, the estimate is that the fund balance will be lowered by just less than $455,000.

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