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 The Fiscal Year 2022.
Strategic Plan Focus
Financial Management & Administration
Body
Staff Recommends: Approval of the attached Resolution.
Explanation:
This resolution seeks approval of the Community Redevelopment Agency Board for the Fiscal Year 2022 Operating Budget for the Hollywood Community Redevelopment Agency (CRA) Beach District.
For Fiscal Year 2022 the projected taxable value for the Beach District of the Hollywood Community Redevelopment Agency is $3,448,675,160 and represents a 2.66% decrease below the previous year’s taxable value. Based on the increment value, the TIF revenues for FY 2022 is projected at $37,087,060 and represents a decrease of 3.14% below the prior year’s revenue. Other sources of revenue include an estimated carry forward balance of $31,954,213 and other revenues of $160,000, bringing the total Operating Budget for the Beach CRA to $69,201,273.
Fiscal Impact:
Sufficient revenues have been projected to support the anticipated operating expenditures in Fiscal Year 2022, which includes $9,759,753 in refunds to the three taxing authorities.
Recommended for inclusion on the agenda by:
Jorge Camejo, Executive Director