File #: ID#25-0894    Version: 1 Name:
Type: Action Item Status: Agenda Ready
File created: 8/27/2025 In control: Community Redevelopment Agency
On agenda: 9/15/2025 Final action:
Title: Approve Third Quarter budget amendments for the Downtown Clearwater Community Redevelopment Area and adopt Resolution 25-01.
Attachments: 1. DT FY 24.25 Amend Resolution.pdf, 2. DT CRA Amended Budget Operating (1).pdf, 3. DT CRA Amended Budget (1) (1).pdf
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
No records to display.

SUBJECT/RECOMMENDATION:

Title

Approve Third Quarter budget amendments for the Downtown Clearwater Community Redevelopment Area and adopt Resolution 25-01.

 

Body

SUMMARY: 

The Downtown CRA Operating and Capital budgets have been reviewed through the third quarter of FY 2024–25. Updates include adjustments to revenues, transfers, and expenditures to reflect actual and project needs. Key adjustments include:

 

Downtown Operating

  • Adjust the budget to reflect the actual expenditures to date.

 

Downtown CRA Capital Projects

  • C2105 Mercado
  • An increase of $15,000 for Mercado Public Art. $10,000 from Arts and Culture and $5,000 from city increment transferred from the close of the City’s Downtown Intermodal Project

 

  • R2003 Economic Development City- 
  • Decrease of $3,673 in City Increment Revenue
  • Increase of $167,783 Interest Earning
  • Increase of $1,063437.39 TIF revenue transferred as part of prior year end closing 
  • Increase of $41,078 in City Increment revenue from the closure of the City’s Downtown Intermodal Project

 

  • R2005 Infrastructure City-
  • Increase of $167,858 reimbursement from PSTA received for their portion of utility undergrounding on Myrtle Avenue.

 

  • R2010 Housing County 
  • Decrease of $86,737 in County Increment received. 

 

STRATEGIC PRIORITY:

1.3 Adopt responsive levels of services for public facilities and amenities and identify resources required to sustain that level of service.