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CRA approves $2.75 million midyear transfers for policing, tenant improvements and historic preservation work
Summary
The CRA approved Resolution 25-23F to transfer $2,748,601 from reserves to cover midyear needs including policing expenses, an arbitrage payment, up to $1 million for tenant-improvement/brokerage needs at 415 Clematis, and $750,000 as a first payment toward the Hibiscus House preservation project at 213 S. Rosemary Avenue.
The Community Redevelopment Agency on April 14 approved a midyear budget adjustment (Resolution 25-23F) transferring $2,748,601 from reserves to cover additional expenses and planned commitments in fiscal year 2025.
Jade Green, deputy director of the CRA, reviewed recommended transfers for Fund 105 and Fund 107. For Fund 105 she requested $2,290,000 in transfers to address several items: increased administrative expenses tied to policing (including bike-unit officers), an arbitrage rebate payment, and up to…
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