The budget for the South Cape Community Redevelopment Agency will come to a vote Wednesday.<\/p>\n
Cape Coral City Council, sitting as the CRA board of commissioners, will adopt budget for Fiscal Year 2027 budget.<\/p>\n
The proposed budget is $8,998.593, an increase\u00a0of $1,286,637 from the May budget presentation.<\/p>\n
The revenue adjustments were made after overall property valuations were adjusted from the preliminary numbers released in June. \u00a0<\/p>\n
Overall property valuation saw an increase of 8.16% from the July 1 released numbers.<\/p>\n
Budgeted numbers were adjusted to the roll-back rate of 5.1988 mills, which saw an incremental increase by $241,424 and transfers in from the General Fund increase by $378,200; parking garage revenue had an increase estimate of $41,700; encumbrances carried forward had an estimated use of Fund Balance of $68,000; and the CRA Capital Project Funds, which includes transfers in of TIF funds of $557,313 for capital projects. \u00a0<\/p>\n
The expenditure adjustments were due to a personnel health insurance costs increase of $3,808; an operating increase for economic incentives of $80,000; property management services of $60,003; parking garage expenses of $40,200; encumbrance carry forward of $68,000; capital outlay increase due to including the Capital Projects Fund by $557,313; and transfers out for land acquisition of $477,313.<\/p>\n
The fiscal year 2026 amended budget sits at $10,169,309.<\/p>\n
The agenda also includes Resolution 8-26, an amendment to a contract with VisualScape, Inc. for the Country Club Boulevard Median Beautification Project for $110,140.50, and Resolution 9-26, a Breaking Barriers to Business Grant Program application from M.S. Castle, Inc, operating as Backstreets Sports Bar for $50,000.<\/p>\n
The agenda also includes a staff reports from code compliance, maintenance, projects, and Bimini East Redevelopment.<\/p>\n
The meeting will be held at 9 a.m. on Wednesday, July 29, in City Council Chambers, 1015 Cultural Park Blvd. The meeting is open to the public.<\/p>\n