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The City Council approved the first reading of an ordinance proposing an 8.5% increase in electric retail rates effective January 1, 2026. The Council also approved the $336,476,600 2026 budget and 2026–2031 Capital Improvement Plan, authorized an option agreement for 275 acres estimated to generate $23.9 million, and approved two 2026–2028 firefighter labor agreements.
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If adopted on final reading, the proposed electric rate increase would take effect January 1, 2026; the city said it is primarily driven by higher wholesale power and transmission costs. The Council adopted the 2026 budget and long-term capital plan, approved an option agreement allowing further due diligence for a proposed development at 2100 Horn Rapids Road, and approved agreements covering about 80 firefighter employees. A separate 2025 budget amendment adding $5,568,232 in appropriations passed its first reading.
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