BRADENTON BEACH – The Community Redevelopment Agency (CRA) board that which consists of the mayor and city commissioners has approved on first reading the CRA’s $2.77 million budget for the 2026-27 fiscal year.
The first reading of the proposed budget was held on Sept. 3. City Treasurer Shayne Thompson read the tentative millage rate, the budget resolutions and the city ordinance required for the adoption of the CRA’s fiscal year budget that takes effect Oct. 1.
Each year, the Bradenton Beach CRA receives a portion of the ad valorem property taxes collected in the CRA district that extends from the Cortez Bridge to the southernmost property lines along Fifth Street South. The projected property tax-related CRA revenues are based on maintaining the current 2.3329 millage rate for another year.
The second and final millage and budget public hearing will be held on Wednesday, Sept. 9, at 5:05 p.m.
CRA REVENUES
Total projected CRA revenues for the coming fiscal year are $939,174. The CRA’s share of the ad valorem property taxes collected on residential and commercial properties in the CRA district is expected to be $792,617. An additional $134,057 in city property tax revenues will be transferred from the city’s general fund to the separate CRA fund, as required by state law.
When combined with the current fiscal year carryover of approximately $1.91 million in previously unspent CRA funds, the total available CRA funds for the coming fiscal year are projected to be $2.85 million. Total CRA expenditures for fiscal year 2026-27 are projected to be $2.77 million. The projected CRA revenues exceed the projected CRA expenditures by approximately $83,000.
CRA EXPENDITURES
The CRA budget includes $2.41 million for anticipated capital project expenditures within the CRA district, including $1.3 million for the next phase of utility line undergrounding. The projected capital expenditures also include $600,000 for unspecified CRA enhancements, $400,000 for unspecified CRA district improvements and $10,000 for a gateway sign.
The CRA budget includes $156,255 for the general expenses that include professional services, attorney fees, accounting and auditing and $55,855 for holiday decorations.
An additional $12,000 is budgeted for the staff salaries and wages associated with the services provided to the CRA by the city’s administration department that includes the city clerk and the city treasurer.
The budget includes $171,280 for the police department services that include the additional CRA-funded police patrols along Bridge Street.
The CRA budget includes $20,000 for the salaries and wages associated with the work city staff does on the streets and roads in the CRA district.
The CRA expenditures for services provided by the city’s planning department are budgeted to be $3,000.
