Eustis CRA cites 190 planned infill homes, park upgrades as auditors give clean opinion

The City of Eustis Community Redevelopment Agency presented its 2025 annual report on May 7, 2026, highlighting three infill projects the presenter said are expected to bring 190 homes, renovations at Carver Park and a rise in taxable values; auditors from Purvis Gray issued an unmodified opinion on the agency’s financial statements.

The report was introduced to commissioners by the CRA presenter, who described “significant progress” in revitalization efforts inside the CRA area and said infill development avoids the cost of extending infrastructure. The presenter said three projects highlighted in the report “are going to bring 190 infill homes,” and pointed to other items including renovated basketball courts at Carver Park and continued work on the Clifford House to support tourism.

"We have given an unmodified opinion on the financial statements. That means a clean opinion that we believe these financial statements are fairly stated in all material respects," Helen Painter of Purvis Gray said, summarizing the audit results the firm presented to the board. Painter told commissioners the state requires CRAs to be audited separately and that the auditors tested expenditures to ensure CRA funds were spent within the CRA.

Lori Carr, finance director for the City of Eustis, introduced the auditors and said the CRA annual report is required separately from the city’s general audit and will be posted online and forwarded to the Florida Redevelopment Association.

The report included several quantitative highlights presented to the board: gateway grants awarded to 20 projects totaled $107,000 and, because applicants must match awards, that produced $214,000 in private investment; businesses that used the city incubator reported $950,000 in revenues and hired 16 full‑time and 11 part‑time employees; and taxable values within the CRA were reported up 10.1% from the prior year. Auditor Painter also said a CRA balloon loan of about $2.5 million was paid off during the year and that the city temporarily borrowed from the general fund at the same interest rate to pursue external financing.

A commissioner moved to accept the CRA annual report and another seconded the motion; board members indicated consensus approval and no formal roll‑call vote was required. There was no further action on the item during the CRA portion of the meeting; commissioners took a 10‑minute recess before the next portion of the city agenda.

The CRA annual report and Purvis Gray’s audit summary were presented for acceptance and public record; the board did not take additional actions on the report at this meeting.