During the meeting, the CRA’s role in eliminating blight and bolstering the tax base was underscored by discussions on the agency’s foundation and operations. The agency, which functions as a special district, generates TIF monies from ad valorem taxes within the redevelopment area. These funds are dedicated to the CRA Redevelopment area and are to be used for activities authorized by the CRA plan, in alignment with the city’s comprehensive plan. The significance of the CRA plan as the guiding document for the agency’s actions was emphasized, noting that the board has the discretion to immediately spend these funds, save for specific projects, or use bonding to maximize the available resources.

The 2018 interlocal agreement between the CRA and the county was also brought to the forefront, outlining the conditions that include the CRA’s sunset in September 2040, the framework for the county’s TIF contribution, debt limitations, and the necessity of an annual audit report on CRA expenditures.

The Redevelopment plan, enacted in 2012, was revisited, detailing the authorized activities for TIF expenditures. These activities span various initiatives from business and development assistance to public improvements and catalyst projects. However, the City attorney advised cautiousness towards expenditures on soft costs like branding and marketing, referencing a previous attorney general opinion and advocating for a focus on tangible projects.

The board’s engagement with the Business and Economic Development (BED) Board was a prominent topic, as the CRA board sought direction from the BED Board for recommendations on how to best allocate CRA funds for the upcoming fiscal year. The importance of the BED Board’s input was highlighted by the city manager, especially considering the significant projects on the horizon for the CRA area, including the Presidential Streets master plan, Civic Hub, and storm water work.

No public comments were made during the participation portion of the meeting, allowing the board to proceed with other agenda items. The approval of the minutes from the September 20th, 2023 meeting was unanimous.

The board also discussed a presentation to be made by Kimley Horn to the City Council in April, touching upon the feasibility study and drainage analysis for the Civic Hub. The discussion expanded to consider how to synthesize the results from various projects to determine the most effective use of CRA funds. The board considered seeking advice from the BED Board on prioritizing expenditures for the fiscal year 2024-25 CRA budget. A list of projects and expenditures was reviewed, and the board contemplated whether the BED Board should first update the CRA plan to ensure the prioritization of projects was consistent with the plan. The discussion recognized that the Presidential Streets project could potentially consume a portion of the CRA budget, underlining the need for the BED Board’s business-minded recommendations.