CRA adopts FY 2026–27 operating budget, capital plan and $7.13M in transfers

The Community Redevelopment Agency voted to adopt its FY 2026–27 operating budget, five‑year work program and capital plan. The presenter said the ad valorem revenue in the initial presentation was $4,960,540 (calculated at a 7.2593 millage rate before the county’s subsequent adjustment) and that total capital expenditures listed equal $9,115,000. Key items included developer incentives of $2,500,000, residential incentives of $250,000 and surplus land sales estimated at $7,600,000.

The presenter outlined transfers totaling $7,127,630, including $300,020 to general fund services, $3,411,000 to general fund debt service (outstanding series notes), $328,760 to the water and sewer revenue fund for impact fees, and a $2,798,000 transfer to fully pay the CRA loan owed to the general fund. A council member asked whether the transfer of the bank building had closed and whether cash was reflected; the presenter replied, "It was transferred in the current fiscal year and is presented in the total appropriation for the year." The resolution (recorded in the agenda as "20 26 25") passed by voice vote (4-0).