(Story courtesy of WVLT News)

Knoxville, TN (WOKI) Knoxville Mayor Indya Kincannon delivered at Covenant Health Park Friday her State of the City address.

Kincannon chose Covenant Health Park as the backdrop of her speech said it “exemplifies her faith in the enduring strength of collaboration,” referring to the work done between the city, county, sports authority and Boyd Sports to the bring the ballpark to life.

Kincannon’s speech is often also the presentation of the budget for the coming fiscal year.

Mayor Kincannon is proposing a $477.3 million net budget she said prioritizes city services and public safety, while investing in strategic capital projects.

City officials said this budget is balanced, and the city’s property tax rate remains unchanged at $2.1556 per $100 of assessed value.

Another highlight: nearly 21.2% of the budget addresses spending for Knoxville police and fire, a total of $101.2 million.

Firefighters and police will see 4.2% step raises along with a cost of living increase for general government employees. Included is nearly $225,000 in salary increases for firefighters to bring them up to market level, the city said.

The budget also sets out to invest $8.2 million in affordable housing, aiming to send $4.2 million to Transforming Western, $2.5 million to the Affordable Rental Development Fund and $1.5 million to support permanent supporting housing projects.

The budget will also invest $350,000 to be matched by Knox County to increase beds in shelters across the city during cold weather.

The mayor’s office also said Kincannon is committed to building a clean and sustainable future and that her budget supports that mission.

$2.5 million for repairs to city buildings’ roofs and heating and ventilation systems, the city said, will pay for its self over time in energy savings.

The city will also invest $500,000 to fund community charging stations.

The largest piece of funding, outside investments in police and fire, is a $25 million lump sum payment on debt for the convention center.

City officials said this would decrease annual debt payments from $9.8 million a year to $5.7 million, saving $30.2 million, resulting in the city paying off the Knoxville Convention Center two years ahead of schedule.

The mayor’s proposed budget will be read for the first time by City Council on April 29 with a second reading on May 27.