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St. Pete Beach committee hears $218 million capital shortfall; staff lays out fees, assessments and bond options
Summary
City staff told the St. Pete Beach Budget & Finance Committee that five‑year infrastructure needs total about $218 million and presented a menu of revenue options — fee studies, fire and parking assessments, a community redevelopment area, targeted bonds, grant pursuit and philanthropic measures — to address a roughly $157 million funding gap.
St. Pete Beach officials told the Budget & Finance Committee that the city faces roughly $218 million in five‑year capital infrastructure needs and a projected funding shortfall of about $157 million if current revenue trends hold.
At a March/April workshop, staff summarized a five‑year forecast showing estimated revenues of about $314 million, operating costs near $209 million and capital needs of $218 million, producing the shortfall. Staff flagged possible state ad valorem changes that could further reduce property‑tax revenue by up to $4 million in a worst‑case scenario and noted legal limits on what parts of the budget (for example, public safety) can be cut.
To close the gap, staff presented a range of revenue buckets and financing tools. Shorter‑term, staff recommended completing an enterprise fee study to justify and set utility and service fees; the consultant’s preliminary reclaimed‑water scenario showed a potential 50.5% rate increase in…
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