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CRA reviews FY2025 preliminary budget and five‑year CIP; formal adoption set for July 28
Summary
The Jacksonville Beach Community Redevelopment Agency reviewed the fiscal year 2025 preliminary budget and a five‑year capital improvement plan, heard staff assumptions on revenues and personnel costs, and was told staff will return July 28 for formal adoption.
The Jacksonville Beach Community Redevelopment Agency reviewed its preliminary fiscal year 2025 budget and a five‑year capital improvement plan during a June meeting, with staff saying the downtown and South End trust funds are in a strong cash position and the board set a formal adoption date for July 28.
The review matters because the CRA’s downtown and South End trust funds fund public projects through TIF revenues and cash-on-hand; staff said the next three to four years of South End work and much of the downtown program are funded without issuing new debt. "Instead of relying on debt to fund these projects, we are now a lot in a position to do pay as you go," said Ashley Gossett, chief financial officer, describing the agency's cash position and compliance with state statutes on trust fund balances.
Staff described the assumptions behind the preliminary numbers:…
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