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Downtown redevelopment fund nearly spent; board hears Delta West tax‑increment repayment plan
Summary
Staff reported a $412,954 Downtown Redevelopment budget with about $51,835 available after encumbrances; a $50,000 grant request would leave roughly $1,800. Board members also discussed a planned tax‑increment reimbursement tied to the Delta West development that staff said sunsets in 2036.
Daytona Beach Downtown Redevelopment Board members reviewed the board’s Downtown Redevelopment Grant expenditure report and discussed limited remaining funds and a planned tax‑increment reimbursement tied to a private development.
Angela Austin, redevelopment project manager, told the board the program began with a budget of $412,954, that the board has spent $358,572.62 to date and that, with encumbrances, $51,835 remained available to spend. She said the packet included a $50,000 grant request…
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