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Council hears plan for $783 million city share of Hillsborough County’s CIT renewal, debate on balancing parks, public safety and debt mitigation
Summary
At a council workshop, finance staff presented the city’s planning view of the Hillsborough County Community Investment Tax (CIT) renewal and showed a projected City of Tampa share of about $783 million over 15 years.
At a council workshop, finance staff presented the city’s planning view of the Hillsborough County Community Investment Tax (CIT) renewal. The slides were taken, staff said, from county material and showed countywide projected CIT proceeds of about $3.76 billion over 15 years and an estimated City of Tampa portion of roughly $783 million (about 22 percent of the county total).
Dennis O'Hara, the city chief financial officer, reminded council that the CIT proceeds will not arrive at once. He said the city expects roughly $175 million through fiscal year 2030 under current projections and that the renewal — if enacted as shown on the county’s website — would begin collections in December 2026.
Why it matters: CIT proceeds are a significant near‑term revenue source that the city could use for capital projects,…
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