Title
A Resolution Of The Hollywood, Florida Community Redevelopment Agency (“CRA”), Amending The Annual Budget For The Beach District Of The CRA For Fiscal Year 2027; Revising Fiscal Year 2027 Revenues And Expenditures.
Strategic Plan Focus
Financial Management & Administration
Body
Staff Recommends: Approval of the attached Resolution.
Explanation:
On September 23, 2026, pursuant to Resolution No. R-BCRA-2026-38, the CRA adopted a Budget for Fiscal Year 2027 for the Beach District of the CRA. The Budget was adopted based on preliminary projections of Fiscal Year 2027 revenues and expenses and the resolution specifically set forth that the budget may be amended when final information is available and as may be otherwise advisable from time to time during the fiscal year.
Based on information received from the Broward County Property Appraiser on October 8, 2026, the final taxable values and millage rates have been established. The CRA Beach District’s final taxable assessed value is $4,686,388,142, a decrease of $7,281,199 from the preliminary value of $4,693,669,341.
Florida Statute § 163.387 pertaining to the payment by certain government agencies of CRA increment revenues was amended by the Florida Legislature effective as of July 1, 2026. Pursuant thereto, the Children’s Services Council of Broward County (CSC) is exempt from making TIF payments.
Fiscal Impact:
Given the changes in the final assessed values, final millage rates and Florida Statutes, the total increment revenue to the Beach Community Redevelopment Agency will decrease from $53,354,658 to $51,476,336. This is a net reduction of $1,878,322.
Recommended for inclusion on the agenda by:
Raelin Storey, CRA Executive Director