WATERLOO - The City Council will consider increasing its financial support for Main Street Waterloo next year.

Council members are expected Tuesday to approve a professional services agreement with the downtown development organization to provide $30,000 for the current fiscal year and boost it to $40,000 for the fiscal year beginning July 1, 2009.

Main Street is expected to coordinate efforts to attract office, retail and housing developments downtown.

The organization also is expected to assist the city on a long list of downtown beautification and revitalization projects.

Main Street has been receiving about $30,000 a year in city tax support since losing a self-supported municipal improvement district tax in 2003.

The money comes from the downtown tax increment financing district, which is repaid with property taxes collected in the downtown area.

Mayor Tim Hurley noted City Council members authorized the increased award for the coming fiscal year when adopting the fiscal year 2009-10 budget in March.

Council members also are slated to hold a public hearing on the annual budget amendment, which takes into account additional expenses the city incurred and revenues it received since the original budget was adopted more than a year ago.

Flood and economic stimulus dollars account for large portions of this year's amendment.

The meeting is scheduled for 5:30 p.m. Tuesday in the council chambers on the second floor of City Hall.

Committee meetings include Public Safety, 4:10 p.m.; Finance, 4:15 p.m.; council work session, 4:30 p.m.; and Ordinance, 5 p.m.