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 2026; Revising Fiscal Year 2026 Revenues And Expenditures.
Strategic Plan Focus
Financial Management & Administration
Body
Staff Recommends: Approval of the attached Resolution.
Explanation:
On September 25, 2025, pursuant to Resolution No. R-CRA-2025-36, the CRA adopted a Budget for Fiscal Year 2026 for the Beach District of the CRA. The Budget was adopted based on preliminary projections of Fiscal Year 2026 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 7, 2025, the final taxable values and millage rates have been established. The CRA Beach District’s final taxable assessed value is $4,846,263,980, an increase of $691,866 from the preliminary value of $4,845,572,114. However, the final millage rate for the County is lower that was previously projected and will result in a reduction to total TIF revenue.
Fiscal Impact:
Given the changes in the final assessed values and millage rates, the total increment revenue to the Beach Community Redevelopment Agency will decrease from $55,323,346 to $55,318,235. This is a net reduction of $5,112.
Recommended for inclusion on the agenda by:
George R. Keller, JR. CPPT, CRA Executive Director