CLEARWATER — Dunedin’s proposed downtown parking garage cleared a major hurdle April 21 when Pinellas County commissioners unanimously agreed to amend an agreement with the city governing the use of Community Redevelopment Agency tax increment financing funds.
The amendment raises the authorized indebtedness cap from $6.594 million to $7.35 million, enabling the city to take on additional debt to build the garage at Scotland Street and Douglas Avenue. It does not increase the county’s contribution.
Construction is estimated to cost $10.3 million. The city will contribute $7.064 million, leaving a $3.236 million funding gap to be covered by TIF revenues against indebtedness, according to a county staff report. Of that gap, $2.48 million will be redirected from funds originally earmarked for Skinner Boulevard improvements — a project since covered by American Rescue Plan Act dollars — leaving $756,000 still needed to fully fund construction.
The 2023 interlocal agreement between the county and city authorized up to $6.594 million in indebtedness for three projects: Skinner Boulevard improvements, parking lot site acquisition and garage construction, which was previously unfunded.
Dunedin CRA Director Bob Ironsmith thanked commissioners for the long-running partnership.
“Downtown redevelopment would never get there without the sustainable funding and the partnership we’ve had for years,” he said.
Ironsmith said the city has already purchased the property for the garage and is ready to move forward with construction. Downtown Dunedin continues to grow busier, he said, and several existing parking areas are disappearing, including a lot across from Casa Tina at the former Ocean Optics site.
The CRA sunsets in 2033, and the amendment does not extend that timeline. Ironsmith said the city’s General Fund will cover roughly 57% of the garage financing, with Penny for Pinellas dollars funding design work and the remainder coming from CRA TIF revenues shared by the city and county.
“I’ve been doing it for 30 years, and certainly can say without this partnership in play with the county, we wouldn’t be where we are today,” Ironsmith told commissioners.
The county Office of Management and Budget estimated county TIF contributions from fiscal year 2026 through fiscal year 2034 at $14.3 million, based on a 95% county contribution, a 5% annual growth rate reflecting the historical average and an unchanged county millage rate. Any debt remaining after the CRA’s final TIF payment will be paid from the city’s General Fund. The FY26 budget includes $1.27 million for the project, with future appropriations contingent on subsequent budgets.
Commissioners granted the request unanimously. Chairman Dave Eggers, a former Dunedin mayor, praised Ironsmith’s work.
“You’ve done a nice job,” Eggers said.