SUBJECT:
Title
Request Approval for the Silver Springs Community Redevelopment Area Trust Fund Budget for Fiscal Year 2024-25
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 certified that the Silver Springs Community Redevelopment Area (CRA)’s taxable values increased from the 2013 base year, resulting in a Silver Springs CRA Trust Fund contribution for Fiscal Year (FY) 2024-25. The projected increment revenue contribution, as estimated by the Marion County Clerk Finance Department, is $460,950.
The Agency Board must approve a final Silver Springs CRA FY 2024-25 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. Staff recommends approval of the attached Silver Springs CRA Trust Fund Fiscal Year 2024-25 Budget.
BUDGET/IMPACT:
None
RECOMMENDED ACTION:
Recommended action
Motion to approve the Silver Springs CRA Trust Fund Fiscal Year 2024-25 Budget and authorize staff to transmit the final budget to the Marion County Board of County Commissioners and Clerk of Court/Finance.
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