CRA budget vote set for Wednesday
The budget for the South Cape Community Redevelopment Agency will come to a vote Wednesday.
Cape Coral City Council, sitting as the CRA board of commissioners, will adopt budget for Fiscal Year 2027 budget.
The proposed budget is $8,998.593, an increase of $1,286,637 from the May budget presentation.
The revenue adjustments were made after overall property valuations were adjusted from the preliminary numbers released in June.
Overall property valuation saw an increase of 8.16% from the July 1 released numbers.
Budgeted numbers were adjusted to the roll-back rate of 5.1988 mills, which saw an incremental increase by $241,424 and transfers in from the General Fund increase by $378,200; parking garage revenue had an increase estimate of $41,700; encumbrances carried forward had an estimated use of Fund Balance of $68,000; and the CRA Capital Project Funds, which includes transfers in of TIF funds of $557,313 for capital projects.
The expenditure adjustments were due to a personnel health insurance costs increase of $3,808; an operating increase for economic incentives of $80,000; property management services of $60,003; parking garage expenses of $40,200; encumbrance carry forward of $68,000; capital outlay increase due to including the Capital Projects Fund by $557,313; and transfers out for land acquisition of $477,313.
The fiscal year 2026 amended budget sits at $10,169,309.
The agenda also includes Resolution 8-26, an amendment to a contract with VisualScape, Inc. for the Country Club Boulevard Median Beautification Project for $110,140.50, and Resolution 9-26, a Breaking Barriers to Business Grant Program application from M.S. Castle, Inc, operating as Backstreets Sports Bar for $50,000.
The agenda also includes a staff reports from code compliance, maintenance, projects, and Bimini East Redevelopment.
The meeting will be held at 9 a.m. on Wednesday, July 29, in City Council Chambers, 1015 Cultural Park Blvd. The meeting is open to the public.
To reach Meghan Bradbury, please email news@breezenewspapers.com