A primary focus was the potential reduction in revenue, with plans suggesting a reduction to 50% of current levels. This sparked concerns about the long-term implications for capital improvement projects, especially with an estimated $60 million potentially returning to taxing agencies over the next 20 years. There was apprehension about how this reduction could impact ongoing projects, with $14 million worth of capital projects still incomplete in the south end. The importance of careful deliberation was emphasized, particularly in light of the CRA’s mandate to eliminate slum and blight, which remains a priority.

New legislative developments affecting CRAs statewide were discussed, highlighting new reporting requirements and changes related to sunset provisions. Although Jacksonville Beach’s CRA is not directly impacted by the sunset changes due to its recent extension for 60 years, the broader implications for other Florida CRAs were noted. The potential transition of CRA and Tax Increment Financing revenues into city general funds was also discussed, with the CRA facing pressures to phase out without significant legislative change.

The meeting also addressed the need for transparency, with new regulations requiring public publication of the Capital Improvement Plan objectives starting December 1. This move aims to boost accountability and transparency. The agency plans to present a visually appealing version of the CIP at the next meeting, which will include a retrospective of the previous fiscal year’s budget allocations.

Attention turned to an empty property on First Street in need of improvements, such as trash collection and vegetation trimming. The board called for staff to engage with the property owner to enhance the area’s appearance.

Considerable debate arose over the financial distribution of tax increment financing between the CRA and the City of Jacksonville. Frustrations were voiced regarding the current 50% allocation to the city, with some feeling the city receives more than its fair share. However, regulatory constraints dictate this distribution, and the CRA is bound to these limits while trying to protect the interests of its districts.

The agency also discussed the introduction of a new study to evaluate the relevance of recommendations from a long-standing project that had carried over funds without clear justification. An allocation of $100,000 has been made for this purpose.

Further discussions highlighted the shift from project initiation to maintenance and upkeep of existing developments. With $14 million earmarked for larger projects, approximately half is expected to be allocated within the current year. However, $7 to $8 million will need to be secured in future budgets. The unpredictability of maintenance costs was acknowledged, with members emphasizing the need for careful financial planning to avoid unexpected costs.

Interest from other communities in Jacksonville Beach’s public art program was noted.