Tampa council approves $7.35 million reallocation to start Unite Ashley Drive work

Tampa City Council on Wednesday approved a short-term realignment of funds to begin work on the Unite Ashley Drive project, moving $5,354,695 from a transportation grants capital project and $2,000,000 from the CIT Series 2016 bond capital funds into the Unite Ashley Drive account.

The council action followed a staff presentation from Chief Financial Officer Dennis Rejera, who told council the vote covered “only today’s action” and that the administration still expects the overall project to total about $22 million. Rejera said the city was not asking the council to fund the entire $22 million now and that staff could present different financing scenarios.

Why it matters: council members said they want the project to start this year but asked staff to reduce longer-term borrowing and seek more Downtown Community Redevelopment Agency (CRA) support. Councilwoman Hertek moved the reallocation; the motion passed without a recorded roll-call tally after an affirmative voice vote.

Council discussion centered on options to reduce future debt. Rejera and Director Brandon Campbell explained the funding picture: a federal grant of roughly $5.35 million is available now; the CRA has approved up to $8 million in supplemental funding, and staff outlined a potential scenario that would increase the CRA contribution to $13 million to lower the need for other borrowing. Councilman Viera and other members emphasized trying to maximize CRA funding before turning to new debt or other city-wide revenue sources.

Councilwoman Hertek said she wanted the city to “try to get as much from the CRA as possible” and to avoid new debt or a mobility-fee funding path if alternatives exist. Rejera and Campbell said timing gives the city flexibility because the project will be built over multiple years; they also said the CRA’s obligated balances will free up more capacity beginning in 2027.

Council direction and next steps: council approved the immediate cash reallocation and asked city staff and CRA administration to continue negotiations on the funding split. Staff said a financial resolution consistent with today’s vote would be prepared and returned for signature; staff also committed to return with a refined funding timetable during the FY2026 budget process.

Background and context: Rejera noted the $5.35 million is a U.S. Department of Transportation grant and that the $2 million transfer is from previously issued CIT bonds. He warned that a remaining roughly $4 million of funding remains to be identified in the near term but stressed the total $22 million will be required over multiple fiscal years.

Council members also discussed process questions about whether a separate financial resolution must be signed by the mayor; staff said the resolution could be finalized and returned to the council before the end of the meeting cycle.

Ending: Council members asked staff to keep the council and the CRA board informed as negotiations evolve; council approved the reallocation to enable design and early work on the Unite Ashley Drive project while longer-term financing is finalized.