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Boca Raton CRA adopts $60.5 million FY2024–25 budget, approves 2025 meeting schedule and hears downtown project updates
Summary
The Boca Raton Community Redevelopment Agency unanimously approved its FY2024–25 budget — a roughly $60.5 million plan focused on downtown capital projects — and passed a 2025 meeting schedule. Staff outlined projects including Mizner Park maintenance, an East–West connectivity RFP and Sanborn Square work.
The Boca Raton Community Redevelopment Agency voted unanimously Sept. 9 to adopt a proposed fiscal year 2024–25 budget that totals roughly $60.5 million and to approve a resolution rescheduling certain 2025 regular meetings.
Stephen Timberlake, the CRA’s Special Projects Manager, presented the budget and told the board the agency anticipates approximately $22.5 million in tax-increment revenue and total expected operating revenue of $26,400,000 next year. “Our total expected operating revenue is $26,400,000 for next year,” Timberlake said while outlining capital outlays and planned appropriations.
The board’s adoption of Resolution 202407CRA formalizes an operating plan that Timberlake described as including $22 million in capital outlay and approximately $24 million earmarked for specific future redevelopment projects; the FY2024–25 expense total cited in presentation materials was approximately $60,500,000. He said the CRA plans to…
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