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Titusville CRA previews FY2027 preliminary budget, leaves about $554,000 for projects
Summary
Using last year’s numbers as a baseline, CRA staff presented a preliminary FY2027 budget with estimated revenues of about $1,041,000; after debt service and operating costs roughly $554,000 was identified for projects including trail-amenity implementation, infrastructure matching and a Main Street program.
CRA staff presented a preliminary FY2027 budget on April 14 that uses the previous year’s figures as a baseline and seeks board direction on priorities and project funding.
City staff reported estimated TIF revenues of roughly $1,041,000 from city and county sources and noted an outstanding debt from 2009 projected to be paid off in 2030. After accounting for debt service, personnel and operating costs, staff said about $554,000 would be available for capital projects in the coming year.
Staff listed recommended capital allocations that included funds for a building grant program, implementation of the trail-amenities plan, infrastructure matching for FDOT repaving (staff noted an approximate incremental cost of $365,000 to meet FDOT matching needs), a Main Street program ($75,000), and policing/auditing services ($35,000). Staff cautioned the figures are preliminary and may change when final revenue projections are available.
Member Nelson moved to accept the preliminary CRA budget direction; Vice Chair Cole seconded. The board voted in favor and the motion carried.
Staff said individual capital projects will return for further review and that some capital expenses may straddle fiscal years. They also noted the grant program is generating interest and several applications are pending.
