CRA governing board reviews FY 2026–27 budget, notes limit on Boston Hill crosswalk funding

The Community Redevelopment Agency (CRA) Governing Board met July 20 to review its proposed FY 2026–27 budget, hear updates on local capital projects and give staff direction on a pedestrian crossing that straddles the CRA boundary.

Kelly Jones presented the CRA's revenue outlook, saying the CRA’s funding comes from tax-increment financing from the city and Seminole County and that recent state changes affect local millage rules. "One of the legislations that has passed is Senate Bill 4F," Jones said, noting it changes how the maximum millage is calculated and raises the vote threshold for rates above the rollback level. Jones said the city is proposing a reduction of its millage from 5.8610 to 5.6692 mills, which would generate about $985,000 for the CRA, and that Seminole County's millage would remain at 5.3751 mills. "So the total revenue projected for next year will be the $1,959,000," Jones said.

Jones outlined operating and capital spending: operating costs remain largely unchanged (with a slight increase in the financial audit cost), and capital funding would prioritize Franklin Street, Solari Park pond revisions and the Boston Hill pedestrian crossing. On Solari Park, a staff member described targeted work to raise three small areas around the pond that are below the 100-year flood elevation and called it a "minor project."

Staff alerted the board that the CRA boundary is legally described along the centerline of State Road 434, a constraint that limits CRA funding to half of the Boston Hill crossing. As Mr. Kelly advised the board, "the CRA can only fund 0.5 of that project," and because the city currently has no identified funding source for the city-side portion, staff asked permission to move the CRA share into Franklin Street or another in-CRA project when the board considers the budget.

Board members discussed the potential revenue impact of proposed statewide homestead exemptions (Amendment 3). Jones relayed Seminole County property appraiser estimates that a $150,000 exemption could reduce CRA taxable value by about $28.6 million in 2027–28 (a projected revenue loss to the CRA of roughly $157,000) and that a $250,000 exemption in 2028–29 could reduce taxable value by about $50.8 million (roughly $280,000 in lost revenue), information provided as context for future budget planning.

On project timing, a staff member (Paul) reported that Citizens Lane is scheduled to be substantially complete on Aug. 3, with a final walkthrough soon afterward; he confirmed the lift station is finished and that back-in parking (Bakken) is incorporated into the design and signage. Regarding Franklin Street, Paul said VHB submitted modified signal-design permit plans and staff anticipates a DOT submittal in early August and expects to be ready to bid in spring 2027, subject to permit review and securing funding.

Board members emphasized they would not start Franklin Street construction until permits and adequate funding were in hand; Paul and Jones confirmed bids would not be solicited without permits and city funding. Chair directed staff to "temporarily put the money in the Franklin Street pot until we get bids in and know what it really cost," and the board concurred to move the Boston Hill allocation to Franklin Street for now and revisit the allocation if the city later validates the other 50% of funding.

Procedurally, the board approved the minutes from the April 20, 2026 regular session (motion by Mr. Butterford; second by Kelly Jones; voice vote, motion passed), and the CRA set a budget hearing for Aug. 17, 2026. The meeting adjourned following those items.

The board discussed but took no formal vote on reallocating capital funds during the session; staff will return with a budget document at the next meeting if any formal changes are proposed.