| | | | | | | | CITY OF OAKLAND PARK, FLORIDA
COMMUNITY REDEVELOPMENT AGENCY AGENDA ITEM REPORT
AGENDA ITEM NO. 1 | | MEETING DATE: 9/9/2026 |
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| | | | | | | | | PREPARED BY: | Rhea Rivera, CGFM
Finance Director
Neysa Herrera
Director of the CRA & Economic Development | DEPARTMENT HEAD APPROVAL: | CRA |
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| | | | | | | | | SUBJECT: Community Redevelopment Agency Tentative Budget for FY 2027 |
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| | | | | | | | | 1. | BACKGROUND/HISTORY
| | | Issue Statement: The Community Redevelopment Agency's (CRA) Board of Directors must conduct a public hearing and adopt the CRA's tentative budget for Fiscal Year 2027.
Recommended Action: Conduct a public hearing and adopt a resolution approving the CRA's Fiscal Year 2027 tentative operating budget in the amount of $969,929 (Exhibit A) and setting the date for the final CRA budget hearing for September 23, 2026, at 6:30 PM.
Background: The CRA is a special district of the City of Oakland Park and all revenues within the CRA are derived from transfers from the General Fund, grants, and miscellaneous revenues. Unlike many such agencies, Oakland Park's CRA is a non-tax increment financing (TIF) CRA and does not levy any taxes. Due to this inability to directly levy taxes, the CRA board did not separately adopt the CRA's budget and instead incorporated the adoption of the Agency's budget into the adoption of the citywide budget by Commission action. Beginning in FY 2021, the City Attorney's Office recommended that the Board begin adopting the CRA budget through a separate action. |
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| | | | | | | | | 2. | CURRENT ACTIVITY
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In recent years, the Community Redevelopment Agency has revitalized Oakland Park and helped spur new interest in redevelopment. The FY 2027 budget reflects continued funding for initiatives, innovative projects, and studies to continue this momentum. This attracts new development, promotes redevelopment, and stimulates economic activity within the downtown and the other areas of the CRA.
The proposed budget for the CRA is attached as Exhibit A. A detailed overview of the budget from the FY 2027 Recommended Budget Book is attached as Exhibit B and a list of business plan initiatives (BPIs) included in FY 2027 is attached as Exhibit C.
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| | | | | | | | | 3. | FINANCIAL IMPACT
| | | Expenditures in the CRA for FY 2027 total $969,929. The majority of the budget is funded through a $621,661 transfer from the City of Oakland Park's General Fund. The remaining expenditures are funded by the CRA’s rentals and lease revenues of $48,268 and use of available fund balance amounting to $300,000. |
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| | | | | | | | | 4. | RECOMMENDATION
| | | Conduct a public hearing and adopt a resolution approving the CRA's Fiscal Year 2027 tentative operating budget in the amount of $969,929 (Exhibit A) and setting the date for the final CRA budget hearing for September 23, 2026 at 6:30 PM. |
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