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 2022.

Recommended Action: Conduct a public hearing and adopt a resolution approving the CRA's Fiscal Year 2022 tentative operating budget in the amount of $659,150 (Exhibit A) and setting the date for the final CRA budget hearing for September 22, 2021 at 6:30 PM.

Background: The CRA is a dependent 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 separate action.

In recent years, the Community Redevelopment Agency has revitalized Oakland Park and helped spur new interest in redevelopment. During Fiscal Year (FY) 2017, the City Commission approved a new 5-year strategic plan for the CRA, and the FY 2022 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.

During 2019 and 2020, the CRA played a critical role in ongoing planning studies concerning revisions to the Downtown Mixed-Use District regulations through the new OP3D program that will better shape development in the City’s downtown.  FY 22 budget provides continuing provision for such mobility study as well as money for façade and incentive grants, and the ongoing CRA consulting assistance to provide strategic planning implementation, special project planning and development, and enhanced marketing.  Specific highlights including funding for developing 2022 - 2027 CRA Strategic Plan, Find It In Oakland Park programming to promote local businesses, $100,000 in new funding for business incentives & assistance grants, and additional art projects.

The proposed budget for the CRA is attached as Exhibit A.  A detailed overview of the budget from the FY 2022 Recommended Budget Book is attached as Exhibit B.

Expenditures in the CRA for FY 2022 total $659,150, of which $556,566, is funded through transfers from the General Fund. The remaining expenditures are funded by the CRA’s rentals and leases revenue and other sources.

Conduct a public hearing and then adopt a resolution approving the CRA's Fiscal Year 2022 tentative operating budget in the amount of $659,150 (Exhibit A) and setting the date for the final CRA budget hearing for September 22, 2021 at 6:30 PM.