SUBJECT/RECOMMENDATION:
Title
Approve the Downtown Development Board First Quarter Budget Amendments.
Body
SUMMARY:
The Downtown Development Board (DDB) budget has been reviewed and evaluated during the first quarter of Fiscal Year 2025-2026. As a result of this review, staff recommends approval of a budget amendment to reflect updated revenue projections and funding allocations that better align with current program needs and priorities.
The proposed budget amendment includes the following adjustments:
• Transfer of $842,915 in unspent funds carried forward from the prior fiscal year
• Reclassification of expense to a transfer for the Community Redevelopment Agency (CRA) for administrative costs to ensure accurate accounting
• Reallocation of $15,000 from the Judge Car Show, which did not move forward with a grant agreement
The reallocated funds will be distributed to the following programs:
• $50,000 to the Micro Grant Program
• $50,000 to DDB Marketing
• $15,000 to the Outdoor Café Grant Program
• $150,000 to Cleveland Street Activation
• $592,915 to Future Downtown Initiatives
Approval of this amendment will bring the total DDB amended budget to $2,072,696.