SUBJECT/RECOMMENDATION:
Title
Approve Third Quarter budget amendments for the Downtown Clearwater Community Redevelopment Area and adopt Resolution 26-02.
Body
SUMMARY:
The Downtown CRA Operating and Capital Budget have been reviewed through the third quarter for FY 2025-26. Updates include adjustments to revenues, transfers, and expenditures to reflect actual and projected needs. Key adjustments include:
Downtown Revenues:
• A decrease of $33,976 in increment received from Pinellas County
• A decrease of $2,108 in increment received from City of Clearwater
• A decrease of $577 in increment received from the Downtown Development Board and to reclass revenues to the correct code to account for interfund transfers.
• Increase of $125,000 in estimated interest earning
Downtown Operating:
• Adjust the budget to reflect actual expenditures to date
• A decrease of $577 in increment received from the Downtown Development Board and to reclass expenditures to the correct code to account for interfund transfers.
• Adjust funding in transfers to capital projects to account for revenue amendments noted
Downtown CRA Capital Projects
• R2003, Economic Development-City, increase of $125,000 for estimated earned interest
• R2005, Infrastructure-City, increase of $14,967.49 reimbursed from PSTA
• R2008, Transportation-County, a decrease of $33,976 of increment received from Pinellas County.
STRATEGIC PRIORITY:
1.3 Adopt responsive levels of services for public facilities and amenities and identify resources required to sustain that level of service.
