Hallandale Beach CRA unveils $59.4M draft budget for fiscal year 2026

A significant financial boost is on the horizon for Hallandale Beach as the Community Redevelopment Agency (CRA) unveiled its draft budget for fiscal year 2026 during the August 20 meeting. The proposed budget anticipates a robust revenue of approximately $59.4 million, primarily driven by a notable increase in taxable values.

Finance and Budget Manager Jalon Carlson presented the budget overview, highlighting that tax increment financing (TIF) will account for a substantial portion of the revenue—around $31.7 million, which is 53% of the total. This increase comes despite a reduction in the millage rate, thanks to an impressive 18% rise in taxable values, jumping from $2.4 billion in 2025 to $2.6 billion in 2026.

Carlson detailed the breakdown of expected revenues, which include contributions from various sources: $17.3 million from the City of Hallandale Beach, $13.2 million from Broward County, and smaller amounts from the Children's Services Council and South Broward Hospital District. Additional revenues from neighborhood improvement loan repayments and investment earnings are also projected to contribute to the budget.

The CRA's draft budget will be finalized on September 29, coinciding with the city commission's final budget reading. This financial plan sets the stage for potential growth and development in Hallandale Beach, reflecting a positive trajectory for the community's economic landscape.