CRA adopts FY2027 budget for original redevelopment area; estimates $225,000 in TIF revenue

The Community Redevelopment Agency adopted Resolution 202603, approving the FY2027 budget for the original CRA area. The resolution, read into the record by the clerk, covers the fiscal year beginning 10/01/2026 and ending 09/30/2027 and funds capital improvement projects and grant matches for downtown revitalization.

Finance Director said, "The CRA was established in 1999, and the CRA is estimated to bring in, dollars 225,000 for fiscal year 2027." The document and presentation explained those revenues are expected to support CIPs largely geared toward the entertainment district and provide matching funds for brick-and-mortar grants administered by the CRA executive committee.

Council members asked whether CRA receipts come from taxes within the CRA and whether those funds affect the general fund. One council member noted that the fund is separate and limited to taxes from properties inside the CRA and that the matching grants require business owners to contribute. As one council member observed, "in my 4 years that I've sat on this council, the way downtown looked when I 1st sat here and the way downtown looks now is night and day." That comment was made in the context of describing downtown rehabilitation tied to CRA investments and private matching.

A motion to approve Resolution 202603 was made and seconded. The clerk conducted a roll-call vote recording the following ayes: "Council mayor Ehrhardt," "Hallow," "Council member McKeithen," "Vice mayor Bronson," and "Mayor Tanner." The motion passed 5-0.

The resolution specifies the FY2027 budget for the original CRA area. No public comments were offered during the citizens-input period for this item.