PRESENTATION ITEM
FROM: Jared Moore, Chairperson
SUBJECT:
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PROPOSED FY 2021 CRA BUDGET PRESENTATION
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REQUEST:
recommendation
That the Community Redevelopment Agency (CRA) receive a presentation on the proposed Fiscal Year 2021 CRA Budget.
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SUMMARY:
The City of Pensacola’s Fiscal Year 2021 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 Budget. The CRA Work Plan for Fiscal Year 2021 will be presented to the CRA, along with the final budget at the August 2020 meeting. Activities contained with the proposed work plan are reflected in the proposed FY 2021 CRA budget.
A presentation on the proposed FY 2021 CRA budget will be provided by the City of Pensacola’s Finance Director, Amy Lovoy.
PRIOR ACTION:
None
STAFF CONTACT:
Kerrith Fiddler, Deputy City Administrator - Community Development
M. Helen Gibson, AICP, CRA Administrator
Amy Lovoy, Finance Director
ATTACHMENTS:
1) CRA FY 2021 Budget Presentation
PRESENTATION: Yes
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