You know, I hold him gone for three and a half hours. And I didn't move and she didn't come back downstairs. And I'm like, okay, I guess that's a good Father's Day thing. I got the youngest one on my lap and that's where he's going to be.
Perfect. Exactly. It was [Music] Yeah. [Music] I always wait for the digital platform. Is everybody ready? Is the clerk ready? Yes. Okay. I'm going to call to order
the city of Ovido Community Redevelopment Agency meeting. It is June 16th at 6 PM. The first item I think we can skip. Everyone's present except uh Councilwoman Tuker. And the first item is approval of the minutes. What is the
pleasure of the committee? I move we approve the minutes for the April 25th, 2025 meeting. Second. Any discussion? Hearing none, there's a vote to approve the minutes. All those in favor say I. I. I. Is there anyone in the public? We have a member of the public out there. Do you want to come
talk to us? No. How disappointing. Okay. I think all we have tonight is a discussion item. The agenda I have says there isn't one, but then there is one. Item five says there's none. Item six
says there is. So I guess um with that we have our assistant finance director to make a presentation. Right. Yes. [Music] Uh good evening Mr. Chairman, mayor, and members of the CRA board. Uh tonight I
just want to spend a few minutes to go over what we have proposed for the fiscal year 2526 budget. On May 22nd we did receive the initial taxable value in the increment value from the Simol County Property Appraisers Office. Uh currently they are
projecting a 7.78% increase in the CRA's taxable value. Um so what I'm going to do is I'm just going to um there's a a slide up on the screen. It's the same chart that's in your memo. it's just bigger to be able to read. So, um, for next year, we are
proposing, uh, for revenues, um, based on the city's proposed millage rate for this year, and based on the millage rate from Simino County, we're proposing about 954,000 in tiff revenues from the city, um,
780,000 from Simino County, and we are really conservative on the interest side. Um, right now we're just estimating 40,000. Um, unsure what interest rates will be next year and also the CRA does have a lot of cash
right now that's tied to the Geneva Drive. Um, and once that starts to be spent down in the cash lowers, so I mean that can always be adjusted next year if we do see it come higher, but for now we just have it at 40,000.
So that'll give us revenues next year for uh 1.774 million. So to offset that on the expenditure side, we have some of the operating expenditures which are pretty consistent year-over-year. So the CRA administration that is in support of
Brian as he serves as the executive director for the CRA. Um financial department support services of 10,000. Um, we do typically allocate $25,000 a year towards public art programming. Um, then we have the the filings. We file
the annual report audits filing with the Department of Economic Opportunity and then we do have to advertise the CRA report per state statute. So that's the $6,75 and $100. So in addition to that, public works has
requested uh approximately 50,000 and that is to replace the trees along Franklin Street. Um as far as capital goes, um the Geneva Drive has been fully budgeted and connector road, right? What did I say?
Geneva Drive. Sorry. No problem. Thank you. Um, Franklin Street, uh, the Geneva Drive connector has been funded. Okay. Am I saying that right? Yeah, you're fine. Okay. Um, so we are
putting the majority of funding right now is is going to be set aside for the Franklin Street Extension. That 1.4 million is not enough. Um, but that is where the funding will be going towards for the future. um Sweetwater Creek multi-use projects
at 75,000 and quality projects at 75. So that gives us a total expenditures next year of 1.774 million. So what I wanted to do is just present this to you if you had any um recommendations, any concerns with any
of the items that are on the screen. Does anyone have any questions or concerns? Okay. So, this budget will be part of the proposed budget that will go to council for approval um in July and then
you will come back to you for final approval in early September. Okay. That is all I have. Does anyone have any questions for our executive director sitting over there? [Music] How much is Franklin Street going to
cost? Mr. How many years are we going to have to save to pay for Franklin Street is what I'm asking I guess. Do you know how much estimation? 10 million 20 million.
Nobody knows description. So So that's Mr. Mr. Year works on that project. Correct. Could you ask him to perhaps for our July meeting? Sure. See what we can do about getting an estimate so we can discuss that matter. Does that work? Yes. Because
I don't want to commit to something until we know approximately how many years it takes us to pay for it. And right now we're committing $1.4 million. So let's let's bring that up at the next meeting if if Brian can you make sure we
we get an estimate. Has it has it been designed yet or is that not even there? It's it's in design but I'm trying to remember. I think we're around the 60%. Well, I don't think we've gotten to the point where we can say, "Okay, this is what the cost is." Can't Yeah. Can't the
the A&E give us a a round estimate? We can get a we can get an engineers estimate. Okay. So, what we can get and uh but yeah, we'll we'll get with the engineers that are doing the design. I know like I believe this year we're trying to get to 90% design. Okay. definitely should know because after 90%
that's when you start going to your bid documents and then maybe a conceptual schedule and construction schedule. Yes. Any other questions for the executive director?
[Applause] Okay. Hearing none, I guess what we've got is a meeting uh as was just discussed to approve the budget. And what date is that meeting, Mr. Cobb? Our next meeting will be July 21st. July
21st. Yes. Okay. With that, I guess we are adjourned. Thank you, everybody.