City of Edgewater - File #: 2025-CRA-01

• File #: 2025-CRA-01
• Version: 1
• Type: Resolution
• Status: Agenda Ready
• File created: 9/3/2025
• In control: Community Redevelopment Agency
• On agenda: 9/22/2025
• Title: Resolution 2025-CRA-01: Adoption of the Community Redevelopment Agency preliminary proposed budget for Fiscal Year 2025 - 2026.

Date	Ver.	Action By	Action	Result
9/22/2025	1	Community Redevelopment Agency

                     COUNCIL AGENDA ITEM

SUBJECT:

title

Resolution 2025-CRA-01: Adoption of the Community Redevelopment Agency preliminary proposed budget for Fiscal Year 2025 – 2026.

body

DEPARTMENT:

Economic Development

SUMMARY:

The Community Redevelopment District is proposed to generate $433,591 in City related tax incremental financing (TIF) revenue. Volusia County is anticipated to generate $208,279 in TIF revenue. Together, these two revenue sources make up the balance of revenue for the Community Redevelopment Agency. The total proposed budget is $641,870.

On August 4^th, 2025, the Community Redevelopment Agency Board reaffirmed their commitment to facilitating the creation of a Main Street through land acquisition. City staff have prepared a budget that allocates a little over half of the City’s funds towards land acquisition ($233,591). The other half of the City’s revenue is being allocated to the Small Scale and Medium Scale Façade Improvement grant program ($200,000). The County’s portion is being allocated towards E Park Avenue streetscape. County funds can only be used toward public infrastructure projects.

BUDGETED ITEM:                       ☒ Yes ☐ No ☐ Not Applicable

BUDGET AMENDMENT REQUIRED:                       ☐ Yes ☐ No ☒ Not Applicable

RECOMMENDED ACTION:

Motion to approve Resolution 2025-CRA-01.