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CRA reviews proposed Main Street contract: $150,000 over 18 months, 2:1 matching funds and quarterly reporting required
Summary
Board discussed a proposed contract with Lake Wales Main Street that would provide up to $150,000 over an 18‑month period, establish a $2‑for‑$1 matching fund (not to exceed $25,000 per quarter), and require quarterly reinvestment statistics and an annual report for future funding decisions. The item was for discussion; no vote was taken.
The City of Lake Wales Community Redevelopment Agency held an extended discussion of a proposed contract with Lake Wales Main Street that would make $150,000 of CRA funds available over an 18‑month contract period and establish a matching program for Main Street fundraising.
City staff said the proposed compensation would be capped at $150,000 for the contract term (staff proposed execution from the day of contract execution through September 2026). The agreement described matching funds on a…
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