Port Richey CRA reviews FY26 budget, CIP priorities and developer request for tax assistance

Port Richey City’s Community Redevelopment Agency on Tuesday reviewed a draft fiscal year 2026 budget and capital improvement plan that would prioritize land acquisition, park projects and signage, and set aside funds while staff continues discussions with a private developer seeking city assistance.

The budget discussion, led by Finance Director Adam Thompson and City Manager Andrew Butterfield, showed CRA fund revenues projected to rise from about $4.91 million to $5.34 million in FY26, driven in part by higher taxable values in the CRA district. Butterfield told the board a developer working on an 8.5‑acre mixed‑use project has asked the city to consider assistance to close an estimated $4.7 million financing gap, including a request for a 15‑year, 75% tax rebate as one option.

The CRA matter matters because the agency captures tax increment revenue from redevelopment; money used for incentives or rebates can affect what the city and county collect for services and how quickly redevelopment benefits appear. Adam Thompson and other staff laid out specific spending proposals and line‑item changes so board members could see how revenue and reserves would move if the plan is adopted.

Key budget figures and CIP items presented by staff include: revenues rising to about $5,340,000…