East Ocala CRA staff previews annual report, restates account balances and recent projects

City staff presented the East Ocala CRA first-draft annual report and a status update on recent projects and account balances at the advisory committee meeting.

Robert Ellis, the city's economic development manager, told the committee that "The annual report is due annually by March 31, and it covers a period 10/01/2023 to 09/30/2024." Staff highlighted a North East Third Street streetscape improvement tied to the Midtown brewery project and reported grant activity and account balances.

Staff reported that the East Ocala share of the North East Third Street streetscape improvements amounted to about $242,855; the downtown CRA paid approximately $112,000 toward those costs while most improvements occurred on the East Ocala side, staff said. Staff also said four grants were awarded in the last fiscal year totaling about $53,462 and that four projects were completed; the total project costs for those work items were about $102,106, of which $51,863 was reimbursed to property owners.

In a standing-account update, staff reported a CRA account balance of roughly $307,009.09, that $122,853 had been awarded from that account leaving an available balance around $247,941, and that $178,838 had been paid out in grants so far this year. Ellis noted that a recently completed Midtown brewery project attracted a $100,000 reimbursement payment for roof…