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CRA staff presents preliminary FY2027 budget recommendation of $1.5 million; board gives voice approval
Summary
CRA staff presented incentive balances and capital-project updates and asked for a recommendation for a preliminary FY2027 budget of $1,500,000; the board discussed carryover and incentive allocations and recorded a voice vote in favor of the recommendation.
Vanessa, representing CRA staff, walked the board through current incentive and capital balances and a proposed preliminary budget for fiscal year 2027. She said the incentives balance stood at about $1,200,000 as of May, with $350,000 already allocated to Art of Tea this year and a streetscape improvement balance of roughly $2,600,000. “So our preliminary budget numbers for fiscal year 2027 is $1,500,000,” Vanessa said, and asked the board for its recommendation to move that figure into the FY2027 budget cycle beginning Oct. 1, 2026.
Board members sought clarification on how FY2025 surplus dollars were carried forward into FY2026 and how incentive program budgets (residential facade/landscaping and other awards) were computed. Staff explained that $548,000 was brought forward from FY2025 into FY2026 and that final FY2026 reconciliation could change the opening balance for FY2027. After discussion the board took a voice vote on the preliminary FY2027 recommendation; the transcript records the chair asking “All in favor?” and members responding “Aye,” after which the meeting moved on. Staff said it will return with formal reconciliation numbers and any needed amendments prior to final adoption.
