At a Tuesday afternoon press conference, city-parish leaders announced a new funding plan—the “Thrive! Baton Rouge” plan—that includes a compromise over Mayor Sid Edwards’ controversial plan to rededicate library system funds. Under the new plan, the East Baton Rouge Parish Library system would maintain a dedicated millage rate of 8.3 mills, which equates to a $48.14 million annual budget. EBRPL’s current millage rate is set at 11.1 mills, but maintaining dedicated funding was a sticking point for the library system in negotiations. The plan rededicates 2.8 mills to “parish-wide general purposes,” which could include pay raises for city-parish employees. The plan also calls for a one-time rededication of $54.2 million from EBRPL’s existing fund balance to pay down debt, which the mayor’s office says will free up $9.4 million in recurring revenue. The library system would retain one year of operating revenue in its fund balance. EBRPL Director Katrina Stokes on Tuesday called the plan a “workable solution.” The library system isn’t the only agency that would be affected by the new plan, though. A portion of East Baton Rouge Mosquito Abatement and Rodent Control’s secondary millage rate would be renewed at .35 mills, with the remaining .65 mills renewed and rededicated to parishwide general purposes. The agency would continue operations with its primary millage rate of 1.41 mills, which equates to an $8.17 million annual budget. The plan also calls for a one-time rededication of $13.25 million from the agency’s existing fund balance to “support budget stabilization.” The agency would retain one year of operating revenue in its fund balance. The parish general alimony millage would be renewed at 4 mills to “secure stable general fund revenue.” The East Baton Rouge Council on Aging, meanwhile, would renew and rededicate .25 of its existing millage to parishwide general purposes. Under the new plan, the city-parish general fund would enjoy $36.89 million in new revenue without the need for any millage increases, according to the mayor’s office. “This is about making smart, sustainable investments in our future,” a statement from Edwards reads. “Thrive! Baton Rouge sets us on a path to long-term fiscal health and protects our essential services. This is how we build a Baton Rouge that works for everyone.” The new plan would still need to be approved by the Metro Council before going before voters on Oct. 11. Take Our Poll ...read more read less