SUBJECT/RECOMMENDATION:
Title
Approve the proposed budget for Fiscal Year 2026/2027 for the Clearwater Downtown Development Board.
Body
SUMMARY:
The proposed fiscal year 2026/2027 budget for the Clearwater Downtown Development Board (DDB) totals $1,513,438. Projected property tax revenues of $523,809 reflect an increase of $14,181 from the amended FY 2025/2026 budget. The revenue total includes an allocation of $567,915 from the current unassigned fund balance.
In accordance with the Interlocal Agreement with the Clearwater Community Redevelopment Agency (CRA), the CRA management and administrative fee will increase by 5% from the FY 2025/2026 fee.
These combined revenue sources support the following key programs and initiatives:
• Staff and Admin $6,500
• Fixed Payments $15,675
• Marketing $602,369
o This includes special events grants that have been approved for funding
• Business Assistance $195,000
• Future Downtown Initiatives $192,797
The DDB has previously approved $148,000 in special event grants for FY 2026/2027. Staff also recommends allocating $150,000 to continue the DDB Micro Grant Program. Allocating $15,000 for the roll out of the new DDB Logo and Brand.
If approved, the proposed budget will be presented on September 15th and September 21st Millage and Budget Hearings for final adoption.
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