Title
A Resolution Of The Hollywood, Florida Community Redevelopment Agency (“CRA”), Adopting A Budget For The Beach District Of The CRA And Making Appropriations For Fiscal Year 2026.
Strategic Plan Focus
Financial Management & Administration
Body
Staff Recommends: Approval of the attached Resolution
Explanation:
This resolution seeks approval for the Fiscal Year 2026 Operating Budget for the Hollywood Community Redevelopment Agency (CRA) Beach District.
For Fiscal Year 2026 the projected taxable value for the Beach District of the Hollywood Community Redevelopment Agency is $4,845,572,114 and represents a 3.78% increase above the previous year’s taxable value. Based on the increment value, the TIF revenues for FY 2026 is projected at $55,323,346 and represents an increase of 4.37% above the prior year’s revenue. Other sources of revenue include an estimated carry forward balance of $42,537,500 and other revenues of $160,000, bringing the total Operating Budget for the Beach CRA to $98,020,846.
Fiscal Impact:
Sufficient revenues have been projected to support the anticipated operating expenditures in Fiscal Year 2026, which includes $14,558,776 in refunds to the three taxing authorities.
Recommended for inclusion on the agenda by:
George R. Keller Jr., CRA Executive Director