PRESENTATION ITEM
FROM: P.C. Wu, Chairperson
SUBJECT:
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PROPOSED FY 2019 CRA BUDGET PRESENTATION
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REQUEST:
recommendation
That the Community Redevelopment Agency (CRA) receive a presentation on the proposed FY 2019 CRA budget.
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SUMMARY:
The City of Pensacola’s Fiscal Year 2019 Annual Budget includes budgets for each of the City’s three (3) Tax Incremental Financing (TIF) districts which include the Urban Core TIF, the Eastside TIF and the Westside TIF. Budgets associated with the administration of these districts comprise the CRA budget.
TIF funds are generated through the incremental growth of taxable property values within the respective district boundaries compared to the year the TIF fund was established or reset, otherwise known as the “base year”. In accordance with Chapter 163, Part III, Florida Statutes, activities undertaken with TIF funds must be contained within the respective district’s adopted community redevelopment plan. The Community Redevelopment Agency (CRA) considers projects and activities for implementation on an annual basis through the review and approval of the annual CRA Work Plan and project list. The CRA Work Plan and project list for Fiscal Year 2019 and the balance of Fiscal Year 2018 were considered and approved by the CRA on May 7, 2018. Activities contained with the subject work plan and project list are reflected in the proposed FY 2019 CRA budget.
A presentation on the proposed FY 2019 CRA budget will be provided by the City of Pensacola’s Chief Financial Officer (CFO), Richard Barker.
PRIOR ACTION:
May 7, 2018 - The CRA approved the FY 2018/19 CRA Work Plan and project list.
STAFF CONTACT:
M. Helen Gibson, AICP, CRA Administrator
Richard Barker, Jr. Chief Financial Officer
ATTACHMENTS:
None
PRESENTATION: Yes
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