SUBJECT/RECOMMENDATION:
Title
Approve the Downtown Community Redevelopment Area (DTCRA) FY 2025-2026 Fourth Quarter Budget Amendment and adopt Resolution 26-07.
Body
SUMMARY:
The Downtown CRA Operating and Capital budgets have been reviewed through the fourth quarter of FY 2025-26. Updates include adjustments to expenditures to account for reimbursement to the city for legal fees. Key adjustments include:
Downtown Operating
• Transfer-out (General Fund-Administrative) expenditures are increased to recognize the transfer of $381,555 to the General Fund for reimbursement of legal fees incurred.
• Transfer-out (Community Engagements (R2002)) expenditures are decreased to recognize the return of $381,555 of city TIF revenues from project R2002, Community Engagement.
Downtown CRA Capital Projects
• R2002, Community Engagements - reduction to transfers by $381,555 to return City Increment to the operating fund.
STRATEGIC PRIORITY:
1.3 Adopt responsive levels of services for public facilities and amenities and identify resources required to sustain that level of service.
