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FPRA reports $12M available resources, $3.7M owed to general fund and $2M waterways commitment
Summary
FPRA staff told the board the agency has about $12 million in estimated available resources for the fiscal year, projects $6.4 million balance after expenditures, owes $3.7 million to the city general fund with a plan to pay $1 million annually, and has committed up to $2 million to Saint Lucie County for waterways projects under an interlocal.
FPRA staff presented a year-to-date financial report on March 31 showing an estimated $12 million in available resources for the Redevelopment Agency fund and roughly $6.44 million in projected resources over expenditures for the fiscal year.
Monies received year-to-date included approximately $13.3 million in tax revenues and roughly $177,000 in lease income from Cobb's Landing; staff said those totals produced $19.86 million in available resources at the time of the March 19 report. Expenditures year to date were described as about $7.9 million, primarily for debt service payments. Staff projected an ending fund balance of about $6.4 million for the fiscal year after…
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