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Temple Terrace CRA adopts $905,810 tax-increment budget for 2022–23
Summary
The Temple Terrace Community Redevelopment Agency on Sept. 20 adopted its fiscal year 2022–23 budget, estimating $905,810 in tax-increment revenue and reserving funds primarily for redevelopment debt service.
The Temple Terrace Community Redevelopment Agency voted Sept. 20 to adopt its fiscal year 2022–23 annual budget, approving estimated tax-increment proceeds of $905,810 for the year.
Interim Finance Director Jim Ingram told the board the budget “reflects the policy direction provided by the city council” and that the agency’s revenues will come from Hillsborough County, the Tampa Port Authority and the City of Temple Terrace. He said the fund’s prior year revenues went to pay a portion of redevelopment debt service and that there were no other expenditures from the fund as of the memo date.
The CRA operates as a dependent special district under Chapter 163, Part II of the Florida Statutes, Ingram said while presenting the staff recommendation to solicit public comment and adopt the resolution approving the annual budget. There were no public comments on the budget at the meeting.
Board members moved and seconded the resolution and, with no recorded opposition, adopted the budget. Individual roll-call tallies were not specified in the meeting transcript.
The board’s action finalizes the CRA’s spending plan for the coming fiscal year and keeps the agency aligned with the city council’s tentative budget direction. The next agenda item presented summaries of two redevelopment property proposals slated to advance to the full City Council for review.
