Submitted By: Roberto Ellis
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Presentation By: Roberto Ellis
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Department: Growth Management
FORMAL TITLE:
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Presentation of Ocala Community Redevelopment Agency Fiscal Year 2024-25 Annual Report
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OCALA’S RELEVANT STRATEGIC GOALS:
Operational Excellence
PROOF OF PUBLICATION:
N/A
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BACKGROUND:
Section 163.371 of the Florida Statutes (FS) specifies the annual reporting requirements for Community Redevelopment Agencies (CRAs). Each agency must file an annual report with the county or municipality that created it and publish it on the agency’s website. The report presented covers October 1, 2024, to September 30, 2025, and was published on the City of Ocala’s website on March 31, 2026.
The report must include the following information:
1. Audit - The most recent complete audit report of the redevelopment trust fund as required in FS 163.387(8).
2. Performance data for CRA, including the:
1.Total number of projects started and completed, and the estimated cost for each project.
2.Total expenditures from the redevelopment trust fund.
3.Original assessed real property values within the community redevelopment agency’s area of authority as of the day the agency was created.
4.Total assessed real property values of property within the boundaries of the community redevelopment agency as of January 1 of the reporting year.
5.Total amount expended for affordable housing for low-income and middle-income residents.
3. Plan Goals & Objectives - A summary indicating the extent to which the community redevelopment agency has achieved the goals and objectives set out in its community redevelopment plan.
The above three items are addressed in two separate documents.
Document 1 - Audit In previous years, the CRA audit and financial statements were done as a part of the City’s Annual Comprehensive Finance Report. Starting in Fiscal Year 2020, the CRA had a stand-alone, independent audit performed. The independent audit will be reviewed by the Audit Committee and presented at a future meeting.
Document 2 - Performance Data & Plan Goals & Objectives: These items are contained in the attachment, the Ocala CRA Fiscal Year 2024-25 (FY25) Annual Report, which highlights the CRA's activities and achievements.
The annual report document meets the requirements set forth for performance data and CRA Plan consistency. Upon completion of the audit, staff will publish the complete annual report to the City of Ocala website. Copies will also be printed and made available.
FINDINGS AND CONCLUSIONS:
The CRA implements its programs, projects, and initiatives in alignment with its respective redevelopment plans and City Council's strategic priorities. The main highlights from the report are:
• Property values in each district continued to grow, largely due to market conditions and the impacts of long‑term CRA investments. Compared to last year, taxable values increased by 9.6 percent in Downtown, 11.0 percent in North Magnolia, 9.1 percent in West Ocala, and 8.9 percent in East Ocala.
• Collectively, total CRA increment revenue rose from approximately $4.32 million in Fiscal Year 2024 to approximately $4.99 million in Fiscal Year 2025, strengthening the CRA’s overall financial capacity and expanding the resources available for reinvestment in redevelopment projects, infrastructure improvements, and community-focused initiatives.
o West Ocala remained the largest revenue contributor, followed by East Ocala, while Downtown and North Magnolia continued to demonstrate steady gains.
• The CRA awarded 38 grants, providing roughly $3.8 million in funding support. Another 42 projects were completed this year, including façade improvements, substantial renovations, and new commercial development. Together, these projects represent approximately $9.8 million in private investment. Refer to the Fiscal Year 2024-25 Annual Report for images of the completed projects.
o Since Fiscal Year 2019, each CRA grant dollar has leveraged approximately $9 in private reinvestment, showing a strong return on public investment.
o The Downtown Ocala Marriott AC Hotel, a $56 million private investment supported by $5.6 million in CRA and City incentives, was approved in August 2025 and is expected to have a catalytic impact on Downtown CRA.
• Capital improvement spending decreased compared to last year, as several major infrastructure projects reached completion in Fiscal Year 2024. There are several projects in the planning stage, including wayfinding, streetscape, and gateway improvements. However, Fiscal Year 2025 included a series of landscaping improvements at the Ocala Farmers Market, including new flex‑pave details, hedges, potted plants, and fruit and herb plantings. These upgrades help reinforce the market’s identity and create a more welcoming experience for visitors. In the East Ocala CRA, construction began on the expansion of the Ocala Skate Park, to which the CRA contributed $500,000.
- In Tuscawilla Park, Ocala Main Street advanced the Heart of the Park project, a $281,000 renovation of a City‑owned building. Supported by $81,000 in CRA incentives, the space will include a museum, offices, a catering kitchen, and grab‑and‑go food service to support park activity and community programming.
- The West Ocala CRA continues to meet long‑term obligations related to the financing of the Mary Sue Rich Community Center at Reed Place. In 2025, the outstanding balance was $5.2 million. The CRA remains on track to retire the debt by 2038, supporting long‑term fiscal sustainability.
- Community engagement remained central to CRA operations this year. The CRA hosted and participated in several events designed to gather public input, share information about programs, and strengthen community partnerships.
The CRA has continued to prioritize the strategic redevelopment of key sites throughout Fiscal Year 2026. This includes continued land acquisition, support for catalytic development opportunities, and formal solicitations for major redevelopment sites. Moving forward, the CRA plans and policies will be reviewed to ensure they align with the Vision 2050 update's pillars, strategies, and focus.
FISCAL IMPACT:
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PROCUREMENT REVIEW:
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LEGAL REVIEW:
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ALTERNATIVE:
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