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25-02RESOLUTION NO 25-02 A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF CLEARWATER, FLORIDA, ADOPTING THE DOWNTOWN CRA FY 2025/2026 ANNUAL OPERATING BUDGET; PROVIDING AN EFFECTIVE DATE. WHEREAS, the Community Redevelopment Agency (CRA) annual budget requirements have been clarified and Section 189.016(3), of the Florida Statutes require that CRA's adopt their annual budgets by resolution; now, therefore, BE IT RESOLVED BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF CLEARWATER, FLORIDA: Section 1. Adopt the FY 2025/2026 DOWNTOWN CRA Operating Budget as outlined on Exhibit A. Section 2. This resolution shall take effect immediately upon adoption. PASSED AND ADOPTED this 15th day of September 2025. Bruce Rector Chairman Approved as to form: David Margolis CRA Attorney Resolution 25-02 FY 25/26 DT CRA Budget Attest: Rosemarie Call City Clerk PMto,�i� CORPORA r<Z / LOR1'DP*\. Downtown Community Redevelopment Agency Proposed Budget October 1, 2025- September 30, 2026 Exhibit A 2024-2025 2025-2026 Amended Proposed Budget Budget Revenues & Transfers In Tax Increment Financing Revenues 338930 Pinellas County 2,692,656 2,878,256 381115 City of Clearwater 3,393,612 3,627,420 Total TIF Revenues 6,086,268 6,505,676 Other Revenues 361101 Interest Earnings 467,783 300,000 Transfers In 338935 Downtown Development Board 379,275 397,975 369906 Reimbursement-DDB Administration 87,309 90,365 Total Revenues & Transfers In 7,020,635 7,294,016 Expenditures & Transfers Out Operating Expenditures 530100 Professional Services 246,158 200,000 530300 Contractual Services 25,000 5,000 530500 Maintenance Contract 842 1,000 540300 Telephone Variable 3,950 4,000 540200 Postal Service 500 250 541600 Building & Maintenance Variable 2,000 2,000 542500 Postage 200 - 543100 Advertising 25,000 10,000 543400 Printing & Binding 5,000 5,000 544100 Equipment Rental 5,000 7,000 547100 Uniforms 2,000 2,000 547200 Employee Expense-Travel 15,000 15,000 547300 Milage Reimbursement 3,000 1,000 548000 Other Services 4,000 5,000 550100 Office Supplies 3,000 5,000 550400 Operating Supplies 3,000 4,000 557100 Memberships and Subscriptions 6,000 20,000 557300 Training and Reference 15,000 20,000 581000 Payments to Other Agencies-DDB 379,275 397,975 Total Operating Expenditures 743,925 704,225 Economy Inn-Interest on Loan Total Debt Transfers Out 590200 General Fund- Administrative 1,060,401 1,100,000 590800 Community Policing (R2001) 257,493 262,289 590800 Community Engagements (R2002) - 250,000 590800 590800 590800 590800 590800 590800 590800 590800 590800 Economic Development- City (R2003) Economic Development- County (R2004) Infrastructure- City (R2005) Infrastructure- County (R2006) Transportation- City (R2007) Transportation- County (R2008) Housing- City (R2009) Housing- County (R2010) Bluff Development (R2501) 1,064,110 I 791,844 1 1 410,206 2,692,656 1,000,000 678,256 500,000 200,000 599,246 2,000,000 Total Transfers Out 6,276,710 6,589,791 Total Expenditures & Transfers Out 7,020,635 7,294,016 CRA- Projections for CIP 6 -Year Plan County TIF 2,878,256 City TIF 3,627,420 DOB 397,975 Other Revenue: Interest DOB Reimbursement 2025-26 Estimated Budget 2026-27 Estimated Budget 21% 2,878,256.00 2,964,604.00 12% 3,627,420.00 3,736,243.00 8% 397,975.00 409,914.00 6,903,651.00 2027-28 Estimated Budget 3,053,542.00 3,848,330.00 422,211.00 7,110,761.00 7,324,083.00 2028-29 Estimated Budget 3,145,148.00 3,963,780.00 434,877.00 7,543,805.00 Downtown CRA - 6 -Year Capial Projection 2029-30 Estimated Budget 3,239,502.00 4,082,693.00 447,923.00 7,770,118.00 2030-31 Estimated Budget 3,336,687.00 4,205,174.00 461,361.00 8,003,222.00 300,000 300,000.00 300,000.00 300,000.00 300,000.00 300,000.00 300,000.00 90,365 90,365.00 93,980.00 97,740.00 101,650.00 105,720.00 109,950.00 7,294,016.00 7,504,741.00 7,721,823.00 7,945,455.00 8,175,838.00 8,413,172.00 Growth Factors Revenue 2026/27 3.0% 2027/28 3.0% 2028/29 3.0% 2029/30 3.0% 2030/31 3.0% Operating Expenditures: Regular Operating Payment to DDB Transfers: GF Admin Community Policing Transfers to Capital (CITY) Transfers to Capital (County) Growth Factors Operating % Personnel Operating Expenses Capital Projects: R2001 - Community Policing - .� gas oyu ru PD R2002 - Community Engagement 11% 10% R2003 - Economic Development- City 43% 25% R2004 - Economic Development- County 24% 30% R2005 - Infrastructure- City 0% 20% R2006 - Infrastructure- County 0% 0% 82007 - Transportation -City 21% 125,402 5% R2008 - Transportation- County 7% 250,804 10% 82009 - Housing- City 26% 1,003,216 40% 82010 - Housing- County 69% 1,887,089 60% Total City: 100% 2,349,246.00 100% 2,401,063 100% 2,453,990 100% 2,508,040 100% Total County: 100% 2,878,256.00 100% 2,964,603.00 100% 3,053,542 100% 2,890,305 100% 4.0% 2.0% 2025-26 Estimated Budget 306,250.00 397,975.00 1,100,000.00 262,289.00 2,349,246.00 2,878,256.00 2026-27 Estimated Budget 312,380.00 409,914.00 1,144,000.00 272,780.00 2,401,063.00 2,964,604.00 7,294,016.00 7,504,741.00 2027-28 Estimated Budget 318,630.00 422,211.00 1,189,760.00 283,690.00 2,453,990.00 3,053,542.00 7,721,823.00 2028-29 Estimated Budget 325,000.00 434,877.00 1,237,350.00 295,040.00 2,508,040.00 3,145,148.00 7,945,455.00 2029-30 Estimated Budget 331,500.00 447,923.00 1,286,840.00 306,840.00 2,563,233.00 3,239,502.00 8,175,838.00 2030-31 Estimated Budget 338,130.00 461,361.00 1,338,310.00 319,110.00 2,619,574.00 3,336,687.00 8,413,172.00 % of revenue PD 2025-26 % of revenue on 2026-27 % of revenue 2027-28 % of revenue 2028-29 % of revenue 2029-30 % of revenue 2030-31 Estimated Budget 7a7 Tao nn Estimated Budget Estimated Budget Estimated Budget Estimated Budget Estimated Budget 295,040 250,804 627,010 752,412 501,608 250,000.00 10% 240,106.00 10% 1,000,000.00 30% 720,319.00 30% 678,256.00 25% 741,151.00 25% 20% 480,213.00 20% 5% 148,230.00 5% 500,000.00 10% 240,106.00 10% 200,000.00 10% 296,460.00 10% 599,246.00 30% 720,319.00 30% 2,000,000.00 60% 1,778,762.00 60% 245,399 736,197 763,386 490,798 152,677 245,399 305,354 736,197 1,832,125 10% 25% 30% 20% 0% 5% 10% 40% 60% 306,840 256,323 640,808 971,851 512,647 PD 10% 25% 30% 20% 0% 128,162 5% 130,979 323,950 1056 333,669 1,025,293 40% 1,047,830 1,943,701 60% 2,002,012 2,563,233 100% 2,619,575 319,110 261,957 654,894 1,001,006 523,915 3,239,502 100% 3,336,687