SUBJECT/RECOMMENDATION:
Title
Provide a recommendation on the North Greenwood Community Redevelopment Agency Fiscal Year 2026-2027 Budget
Body
SUMMARY:
The North Greenwood CRA has aligned its proposed operating budget and proposed project budget to facilitate future redevelopment as outlined in the North Greenwood Community Redevelopment Area Plan. Table 12 of the North Greenwood Community Redevelopment Area Plan outlines the Recommended TIF Expenditures.
The three-priority area are:
• Affordable Housing: Create, preserve, or improve income restricted affordable housing units and prevent displacement.
• Economic Development & Employment: Increase quality employment opportunities, particularly in the county target industries
• Mobility: Improve transit, walking, and biking options and access to transit.
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July 1, 2026, estimated Tax Increment Revenue for the North Greenwood CRA is $1,206,288, which is an increase from the Amended FY 25/26 revenue.
Increment funds are divided between Operating Expenditures and Project Funds. Operating Expenditures include services, supplies and expenses that occur during the fiscal year and are primarily used for conducting North Greenwood CRA’s day-to-day operations. Project funds are established to assist with creating programing recommended in the North Greenwood Community Redevelopment Area Plan.
Total operating expenditures $34,679; Internal Services are $9,533; Salaries for CRA Executive Director and CRA staff $255,279 which is split with the Downtown CRA;
R2407 Housing County $200,000;
R2502 Economic Development City $453,887
R2602 Economic Development County $330,911
APPROPRIATION CODE AND AMOUNT:
N/A
STRATEGIC PRIORITY:
