Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Forest Park URA reviews draft FY2025–26 budget; finance director details sale proceeds and investments
Summary
The Forest Park Urban Redevelopment Agency reviewed a draft FY2025–26 operating budget, discussed reduced anticipated sale proceeds for Project Splash, and heard a financial report showing large investments in Georgia Fund 1 and reinvested interest.
The Forest Park Urban Redevelopment Agency on Tuesday reviewed a draft operating budget for fiscal year 2025–26, discussed how a recent property sale changed revenue expectations and received a monthly financial report showing substantial investment income.
Board members were presented with a draft that largely mirrors the current year’s spending levels but reduces the budgeted sale proceeds previously anticipated from Project Splash. Staff said last year’s budget had assumed roughly $14,000,000 in sale proceeds; the draft for 2025 reduces expected proceeds to $5,000,000 because the Project Splash sale is largely complete. Finance staff later told the board the closed sale generated about $13,000,000 in proceeds.
The nut of the change is that without the larger one‑time sale proceeds the URA will not have the same one‑time revenue available in 2025; board members and staff discussed modest increases and decreases across…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
