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Boca Raton CRA adopts $54 million budget, reserves funds for downtown redevelopment
Summary
The Boca Raton Community Redevelopment Agency approved its fiscal 2025–26 budget, authorizing roughly $54 million in spending and reserving multi‑year funds for downtown capital projects including a transit‑oriented community program.
The Boca Raton Community Redevelopment Agency on Monday adopted its fiscal year 2025–26 budget, approving roughly $54 million in spending and reserving tens of millions for multi‑year downtown redevelopment projects.
The agency adopted Resolution 2025‑58 CRA after a public hearing and discussion among board members. Chair Wictor opened the budget presentation to the board and public, and Stephen Timberlake of the Financial Services Department and Jim Zervos, the city’s chief financial officer, presented the plan.
The adopted operating budget funds day‑to‑day CRA operations and pays for city staff services provided under an interlocal arrangement, including development services, police, code enforcement, public works, engineering, recreation services and finance. The presentation said the CRA expects tax increment revenue of about $26,750,000 for 2025–26 and…
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