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Tampa proposes revolving housing fund, reduces general-fund supplement by $2 million in FY26
Summary
Finance staff recommended changing the housing fund to a revolving model to reduce the FY26 general-fund supplement from about $9.7 million to roughly $8 million, freeing flexibility for the housing department while noting potential future funding from CRA commitments and a large county CDBG-DR grant pending HUD approval.
Dennis Rejero, chief financial officer, told the City Council that staff recommend converting the housing fund to a revolving fund and substantially reducing the general-fund supplement for housing in FY26.
Rejero said the current-year general-fund supplement to housing is about $9.7 million; under the recommendation, the FY26 general-fund component would be reduced by roughly $5.7 million and replaced in part by existing housing fund balance and a $2 million draw from the FY24 fund balance, producing an FY26 housing total just under $8 million (about a $2 million reduction versus FY25).
Finance staff described the revolving fund change as a process improvement that would reduce annual reappropriation needs and give the housing department greater flexibility to spend available dollars. Rejero also said the Community Redevelopment Agency (CRA) has pledged 30% (context: as previously discussed by CRA) and that Hillsborough County has applied for a large Community Development Block Grant - Disaster Recovery (CDBG-DR) grant (staff said the county received an over $700 million grant package tied to last year's storms and has submitted a plan to HUD), with HUD approval still pending and city allocations not yet determined.
Rejero cautioned that while these future sources may provide additional housing funding, the recommended FY26 budget reflects a $2 million reduction in general-fund housing support. The presentation did not include a formal vote; staff framed the proposal for council consideration and future follow up as grant and CRA details become available.
