Cape News
CRA budget to be discussed Wednesday
Cape Coral City Council, sitting as the South Cape Community Redevelopment Agency Commission, will discuss the 2025 requested budget - $6,199,515 – Wednesday. Last year’s revised budget was $6,140,879. The budget proposal includes an estimated 4% increase in tax increment revenue each year, as well as five personnel positions, which includes the CRA specialist, laborer, code compliance officer, field tech and trade specialist. The operating budget includes the CRA Donation Project, which is set at $60,000; $545,000 Economic Development Incentives and the Multimodal Plan S. Cape Parking Plan – Transportation Demand & Parking Standards at $200,000. The transfers out include $1,122,294 for the loan from the General Fund for the parking garage at The Cove, as well as $460,751 for the 47th Terrace Streetscape Debt Services and $2,600,000 for land acquisition. The budget ...
