Submitted By: Roberto Ellis
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Presentation By: Roberto Ellis
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Department: Growth Management
STAFF RECOMMENDATION (Motion Ready):
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Fiscal Year 2025-26 Budget for the West Ocala CRA subarea
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BACKGROUND:
The attached budget summary reflects the Fiscal Year 2025-26 budget for the West Ocala Redevelopment Subarea Fund. Tax Increment Financing (TIF) allows a tax increment to be set aside in a trust for West Ocala community redevelopment purposes only. Per Florida Statutes, Section 189.016, the Community Redevelopment Agency Advisory Board must hold a public meeting to adopt the budget for the Community Redevelopment Subarea Fund.
The budget was approved at the public hearing held on September 3, 2025, at the CRA Board Meeting.
FINDINGS AND CONCLUSIONS:
• The West Ocala Community Redevelopment Area (CRA) has proposed a total of $550,000 in capital project funding for the upcoming fiscal year. This investment encompasses several key initiatives aimed at enhancing infrastructure, aesthetics, and community development.
o The largest allocation, $210,500, is designated for land acquisition opportunities in the CRA.
o An additional $180,000 is earmarked for streetscape, gateways and wayfinding improvements, supporting pedestrian-friendly design and beautification efforts.
• Interest in the improvement programs remains strong. A total of $400,000 has been allocated for new grants, with an additional $200,000 set aside for low- to moderate-income households in need of home improvements.
• The West Ocala Redevelopment Subarea Fund budget totals $5,028,197 for the period beginning October 1, 2025, through September 30, 2026,
ALTERNATIVE:
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