Title
A Resolution Of The Hollywood, Florida Community Redevelopment Agency (“CRA”), Adopting A Budget For The Downtown 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) Downtown District.
For Fiscal Year 2026 the Downtown District will operate on a non-TIF basis as agreed on through the Interlocal Agreement of October 3, 2018 between Broward County, the City of Hollywood, and the CRA. Per the terms of the agreement, Broward County will make five (5) annual payments to CRA of $3,000,000 beginning on December 31, 2025.
This revenue of $3,000,000 will be utilized for expenses as permitted under Section 163.387(6) of the Florida Statutes. Other sources of revenue include an estimated carry forward balance of $19,486,979, bringing the total Operating Budget for the Downtown CRA to $22,486,979.
Fiscal Impact:
Sufficient revenues have been projected to support the anticipated operating expenditures in Fiscal Year 2026.
Recommended for inclusion on the agenda by:
George R. Keller Jr., CRA Executive Director