SUBJECT:
Title
Request Approval and Submittal Authorization for the Preliminary Silver Springs Community Redevelopment Area Trust Fund 2025-26 Fiscal Year Budget
Body
INITIATOR: DEPARTMENT:
Christopher D. Rison, Senior Planner Growth Services
DESCRIPTION/BACKGROUND:
The Marion County Board of County Commissioners (Commission) is the governing agency for the Marion County Community Redevelopment Agency (Agency) that oversees the Silver Springs Community Redevelopment Area (CRA). The Agency is a dependent special district wherein all CRA trust fund expenditures are completed through and by the Board of County Commissioners and the Agency must adopt the Silver Springs CRA budget, pursuant to Section 163.387(6)(a), F.S. and Section 189.016, F.S., that is then reflected within the overall Commission’s budget documents and materials.
The Commission has initiated the annual budget consideration process for the 2025-26 Fiscal Year, and the Agency must submit a preliminary annual budget to the Clerk of Court for use in establishing the general budget line items to be reflected in the Commission budget process. The Agency’s formal budget approval and authorization will occur later in 2025 prior to the commencement of the new fiscal year.
The preliminary Silver Springs CRA 2025-26 Fiscal Year Budget allocation is attached for Agency consideration. The budget is based on the staff’s current increment revenue estimate of $499,345 based on preliminary information available from the Marion County Property Appraiser’s Office.
BUDGET/IMPACT:
Neutral
RECOMMENDED ACTION:
Recommended action
Motion to approve and authorize staff to submit the attached preliminary Silver Springs CRA Trust Fund 2025-26 Fiscal Year Budget to Marion County Clerk of Court/Finance.
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