Homer City Council

The Homer City Council is considering an ordinance that will end its contract with a company hired to invest money saved in the city’s Permanent Fund.

The Permanent Fund was created in 2006 to hold settlement money awarded for the Exxon Valdez Oil Spill. In 2010 the city was awarded $1.1 million for the spill. According to Homer Finance Director John Li the fund is now worth close to $2 million.

Homer Mayor Beth Wythe says that money must be used in a very specific way.

The Homer City Council adopted the budget for 2016 and added five additional budget items during its regular meeting Monday night.

The additional projects include: a submersible pump requested by the Department of Public Works, safety improvements for a portion of Soundview Avenue bordering West Homer Elementary, Calhoun Trail work, a sidewalk extension project for Soundview Avenue, and an expansion of the Hickerson Memorial Cemetery.

Proposition I passed in Homer's special election, Tuesday – that's according to unofficial results released by the city. City Manager, Katie Koester, is now focused on what’s next.

Homer City Council asked the voters if, for three years, they could suspend three quarters of a percent of city sales tax that usually goes into to the Homer Accelerated Roads and Trails fund, also known as H.A.R.T. And the voters said, Yes. Homer City Manager, Katie Koester says it shows the community was willing to sacrifice to keep the city going.