Placement: Resolutions
Action Requested: Motion / Vote
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Resolution 26-CRA-02, a Resolution of the City of Port St. Lucie Community Redevelopment Agency (the "Agency") Relating to the Annual Budget, Approving the Annual Budget of the Agency for the Fiscal Year Beginning October 1, 2026 and Ending September 30, 2027; Authorizing the Expenditure of Funds Established by the Budget; Providing for Conflicts; Providing for Severability; and Providing for an Effective Date.
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Submitted By: Jennifer Davis, Director of Community and Economic Development
Executive Summary (General Business): Chapter 189, Florida Statutes, requires that a governing body of each special district adopt a budget by resolution each fiscal year.
Presentation Information: Staff will provide a short presentation outlining the proposed budget and expenditures for the CRA, as well as identify taxable valuations for the four Community Redevelopment Areas.
Staff Recommendation: Move that the Board approve Resolution 26-CRA-02
Alternate Recommendations:
1. Move that the Board amend the recommendation and approve.
2. Move that the Board provide additional direction to staff.
Background:
A Community Redevelopment Agency (Agency) is a dependent special district and must comply with Chapter 189, Florida Statutes, which requires the governing body of each special district to adopt a budget by resolution each fiscal year. The proposed budget of a dependent special district must be contained within the general budget of the local governing authority to which it is dependent and be clearly stated as the budget of the dependent district. In addition, the total amount available from taxation and other sources, including balances brought forward from prior fiscal years, must equal the total of appropriations for expenditures and reserves.
In accordance with these requirements, CRA staff has worked with the Office of Management and Budget to prepare the Agency’s annual budget for Fiscal Year 2026-27. The proposed budget is being presented to the Community Redevelopment Agency Board for review and approval and is contained in the City of Port St. Lucie’s Annual Budget as Community Redevelopment Agency Fund #175 and Southern Grove CRA Fund #178, attached hereto as Exhibits A and B, respectively.
Issues/Analysis: N/A
Financial Information:
The 2025 taxable valuation for the four Community Redevelopment Areas increased over the 2024 valuation period as follows: PCRA (2001 original) 9.98%; PCR1 (East Lake Village) 10.93%; PCR2 (Port St. Lucie Blvd/Port District) 8.70%; and PCR3 (Southern Grove) 24.35%. The taxable valuation information provided by St. Lucie County for years 2024 and 2025 are shown on Attachments 1 and 2, respectively. Trends in taxable valuation increases since 2021 are reflected in the supporting presentation.
Special Consideration: N/A
Location of Project: N/A
Attachments:
1. Resolution 26-CRA-02
2. Exhibit “A” CRA Fund No. 175
3. Exhibit “B” CRA Fund No. 178
4. Attachment “1” St. Lucie County 2024 taxable valuation letter dated October 22, 2024
5. Attachment “2” St. Lucie County 2025 taxable valuation letter dated October 15, 2025
NOTE: All of the listed items in the “Attachment” section above are in the custody of the City Clerk. Any item(s) not provided in City Council packets are available upon request from the City Clerk.
Internal Reference Number: 26224-14
Legal Sufficiency Review:
Reviewed by Elizabeth L. Hertz, Senior Deputy City Attorney. Approved as to Legal form and sufficiency by Richard Berrios, City Attorney.