Stuart CRA adopts $20.5 million FY‑2026 budget, plans $10.7M Guy Davis Park work and $8.7M streetscape
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Summary
The Community Redevelopment Agency presented and the board approved a $20.5 million fiscal 2026 CRA budget and capital improvement program that includes major allocations for Guy Davis Park improvements, a Seminole Street undergrounding and streetscape project, and Riverside Park work.
The Community Redevelopment Board voted unanimously on July 1, 2025, to approve the Community Redevelopment Agency’s fiscal year 2026 budget and five‑year capital improvement program totaling $20.5 million.
Pinal Gandhi Savdas, redevelopment director, told the board that the CRA’s primary revenue source is tax increment financing (TIF). When the CRA was established the base taxable value was $299 million; the current taxable value within the CRA is about $940 million, producing an increment of about $641 million. For fiscal 2026, city and county contributions to the CRA trust fund were described as roughly $2.9 million (city) and $4.0 million (county); those contributions, together with grants and other revenue, support the proposed $20.5 million budget.
Major projects included in the FY‑2026 budget are: - Guy Davis Park improvements: $10,700,000 (includes a $700,000 skate park component). Staff said design is 90% complete and they expect to submit drainage plans to the South Florida Water Management District and bid the project in summer 2026 for construction in fall 2026. - Downtown undergrounding and Seminole Street streetscape: $8,700,000. The CRA awarded a contract and staff said directional drilling and conduit installation are underway; utility switchover and pole removal work are scheduled through November 2026. - Riverside Park improvements: $2,700,000. The project is substantially complete; remaining punch‑list items are expected to finish in October–November 2025.
Other line items include a Project Lift job training facility (grant‑funded, demolition and construction to meet a September 2026 grant deadline), a Stittmann neighborhood drainage and sidewalk program (budgeted with a $1.4 million drainage allocation and planned grant reimbursement), a CRA tree infill program to bolster canopy coverage, and a partial contribution of $425,000 toward a redesigned downtown courtesy dock to replace storm‑vulnerable slips.
Gandhi Savdas told board members that some projects are grant‑reimbursement programs and that the CRA must often front funds before seeking reimbursement. Board members asked about pedestrian access and contractor staging during the Seminole work and about the long‑term resiliency of the downtown dock. Staff said they would schedule follow‑up briefings with utilities and public works for technical updates.
After brief discussion the board approved Resolution O6‑2025 adopting the CRA budget and CIP; a roll call recorded unanimous support from the board members present.
