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CDRA staff previews FY27 budget: $650,000 projected revenue, $1.9M balance available for future projects
Summary
As the Community Development Renewal Agency board, councilmembers reviewed a preview of the FY27 CDRA budget projecting $650,000 in revenue and a current balance around $1.9 million to support City Center development and other limited-use projects; staff said formal approval will occur in two weeks.
Peter presented an early look at the CDRA (Community Development Renewal Agency) FY27 budget, saying the agency projects about $650,000 in revenue for the coming year and that the balance has grown to approximately $1,900,000. He cautioned that expenditures depend on progress with a larger City Center CRA project and noted that CRA funds are restricted to development and economic-impact type projects.
Peter said he wanted the board to preview the budget ahead of the formal approval hearing in two weeks and offered to inform council of any changes before final action. The board took no final vote on the budget at this meeting; formal approval remains scheduled for the next meeting.
