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New Port Richey CRA approves FY24–25 annual report; presenters cite revenue growth and projects
Summary
The New Port Richey Community Redevelopment Agency approved its FY24–25 annual report after a presentation citing approximately $9 million in revenues, assessed value growth from about $366 million to over $1 billion, and roughly $170,000 in incentives paid; directors also discussed adding residential microgrants to future planning.
The New Port Richey Community Redevelopment Agency approved its fiscal year 2024–25 annual report after a presentation by CRA staff that cited significant assessed‑value growth and a list of development and community projects supported by CRA incentives.
Presenter Mr. Gammon told the board the CRA brings in roughly $9,000,000 a year in revenue related to CRA‑owned properties and reported assessed values in the CRA district rose from about $366,000,000 to more than $1,000,000,000. He said incentive payments during the period totaled about $170,000 and highlighted projects the CRA supported, including Aqua Harbor, Gulf Harbors anchor, Seafire Grill, the Central at Orange Lake, and the Richey Suncoast Theater, plus community investments such as Railroad Square, Grand Boulevard street improvements and Sims Park.
Mr. Gammon explained the statutory filing requirement: the CRA must publish a map of boundaries and file an annual report with the city and online, per Florida Statute 163.371. He recommended the board approve the report so staff could publish it and meet the end‑of‑month filing deadline.
A director (speaker S6) praised the upward trend and asked follow‑up questions about staff tenure (Mr. Gammon said he began in 2014) and budget lines related to residential grants. The director urged consideration of a residential microgrant program for small homeowner repairs — mailbox fixes, small roof or driveway repairs — and noted council budget history that had previously moved between roughly $250,000 and $300,000 for related lines. Directors and staff agreed to examine whether microgrants should be included in the CRA plan and next year’s budget.
A director (speaker S9) moved to approve the FY24–25 annual report; another director seconded the motion and the chair called the ayes. The motion was recorded as approved. The board then moved on to closing business and adjourned.
