SUBJECT:
Title
PUBLIC HEARING for the Silver Springs Community Redevelopment Area Trust Fund Budget for Fiscal Year 2026-27
Body
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INITIATOR: |
DEPARTMENT: |
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Christopher D. Rison, Senior Planner |
Growth Services |
DESCRIPTION/BACKGROUND:
The Marion County Property Appraiser has estimated that the taxable values for the Silver Springs Community Redevelopment Area (CRA) increased from the 2013 base year, resulting in a Silver Springs CRA Trust Fund contribution for Fiscal Year (FY) 2026-2027. The projected increment revenue contribution, as estimated by the Marion County Clerk Finance Department, is $483,797.
The Agency Board must approve a final Silver Springs CRA FY 2026-27 Budget and may allocate unspent prior fiscal year funds to CRA Plan project tasks and project programs. The proposed budget is attached with the allocations of new funds, unspent funds, and total funds available for each line item. The budget includes new line-item allocations for Insurance Premiums, Repairs and Maintenance Buildings and Grounds, and Capital Improvement/Facility Renovation and Upkeep. The line items are added to address the transfer of two parcels in the Silver Springs CRA (24006-000-00 “Key West” building, and 24153-000-00 former hotel, now demolished) to the CRA from Marion County.
Staff recommends approval of the attached Silver Springs CRA Trust Fund FY 2026-27 Budget.
BUDGET/IMPACT:
None.
RECOMMENDED ACTION:
Recommended action
Motion to approve the Silver Springs CRA Trust Fund FY 2026-27 Budget and authorize staff to transmit the final budget to the Marion County Board of County Commissioners and Clerk of Court/Budget.
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