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CRA presentation shows balanced $18M budget, flags $7.6M from land sales
Summary
Mr. Gammon presented the proposed Community Redevelopment Agency budget for fiscal year 2627, showing roughly $18 million in revenues and $18 million in expenses, with $7.6 million assumed from future land sales and $5 million set aside for redevelopment incentives.
Mr. Gammon, the presenter introduced to the New Port Richey Community Redevelopment Agency, laid out a draft FY 2627 CRA budget that projects about $18 million in revenues and roughly $18 million in expenditures. “The revenues are about 18,000,000 and the expense is about 18,000,000 balancing it all up,” he said while walking board members through line items and recent incentive awards.
Gammon listed recent incentives and changes to departmental allocations, saying staff time previously charged to economic development has been shifted to CRA work. He summarized revenue streams as primarily tax increment financing (TIF) receipts and a projected $7.6 million from future land sales. He also noted increases to professional services ($75,000), advertising and marketing ($40,000), contractual services ($135,000), and an other current charges reserve ($100,000).
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