DIAMOND SQUARE REDEVELOPMENT AGENCY AGENDA ITEM
Memo Date: September 9, 2024
Agenda Date: September 16, 2024
Prepared By: Ryan Browne, Redevelopment Coordinator
Through: Charlene Neuterman, Community Services Director
Requested Action:
title
Request Agency approval of the Proposed Budget for the Diamond Square Community Redevelopment Agency (CRA) for Fiscal Year 2025.End
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BACKGROUND:
Each year, the Diamond Square CRA Board approves the Proposed Budget for the next fiscal year. This year, the Proposed Budget will have capital items in Contingency until after the CRA Plan Update is completed by Inspire Placemaking.
Below is a high-level overview of the proposed FY 2025 Budget.
Personal Expenses.
- Salary, medical benefits: $31,215.
Operating: $74,546.
- Contingency: $278,216.
Capital Expenses: $60,000.
Grants: $126,000.
Total FY25 Budget: $569,977.
The anticipated TIF Revenue for FY2025 is about total revenues of $569,542.
As part of the Diamond Square CRA Plan Update, the public workshops will bring forward the goals and objectives of the Agency. From that, the CRA will budget goals and objectives into projects for completion.
Staff requests approval of the Proposed Budget for Fiscal Year 2025.
BUDGETARY IMPACT:
Budgeted Yes
PREVIOUS ACTION:
N/A.
RECOMMENDED MOTION:
Recommendation
Request Agency approval of the Proposed Budget for the Diamond Square Community Redevelopment Agency (CRA) for Fiscal Year 2025.