St. Augustine Community Redevelopment Agency Reports $5.7M in New Revenues for 2026

During a recent meeting of the St. Augustine Community Redevelopment Agency (CRA), officials presented a detailed overview of the agency's budget for the upcoming fiscal year, highlighting significant revenue sources and expenditure allocations. The discussions underscored the agency's commitment to community development and fiscal responsibility.

The CRA anticipates a total of $5,686,326 in new revenues for 2026, with the majority of funding coming from the Tax Increment Financing (TIF) funds. Specifically, 52.7% of the revenue is expected from the City of St. Augustine's TIF Fund, while 38.9% will come from the St. Johns County TIF Fund. The breakdown of revenues across the three special districts managed by the CRA reveals that the Historic Area CRA (HACRA) will receive 58.2% from the City and 37.3% from the County, while the Lincolnville CRA will see 55% from the City and 35% from the County. The newly established West City CRA will rely on 62% from the City and 38% from the County.

In terms of expenditures, the CRA plans to allocate 84% of its budget to projects and programs outlined in its redevelopment plans. Administrative costs are projected at 3.4%, with a focus on monitoring these expenses more closely to ensure efficiency. Notably, the HACRA has successfully reduced its administrative costs from 4.3% to 2%, while the Lincolnville CRA maintains a low 4% for administrative expenses, dedicating 96% of its budget to projects.

The meeting also addressed the importance of grant writing as part of administrative costs, emphasizing the role of staff time in securing additional funding for community projects. This focus on efficiency and accountability reflects the agency's ongoing efforts to maximize the impact of its budget on community redevelopment.

As the CRA moves forward with its plans, the emphasis on project funding and reduced administrative costs signals a proactive approach to addressing the needs of St. Augustine's diverse neighborhoods. The agency's commitment to transparency and fiscal responsibility will be crucial as it navigates the challenges of community redevelopment in the coming year.