The meeting’s primary focus was on the CRA’s operating budget and Community Investment Program (CIP) for fiscal years 2025 through 2029. Finance Director Scott Reynolds presented the CRA’s updates, noting a substantial increase in tax increment revenue from $473 million to $515 million, a $42 million rise largely due to new construction and increased property values within the district. The proposed operating budget allocated $40,000 for community events and holiday decorations in Inlet Village. Reynolds emphasized the need for proactive investment in the CRA district, stating, “We want to use that money to make those improvements whatever they may be that the commission decides.” He reiterated that the CRA’s purpose is to enhance district values and generate more tax revenue.

Key projects discussed included the repair of the Riverwalk gravity wall, damaged by a vessel, and efforts to stabilize the living shoreline along the Riverwalk. A new project for Pet Place Park was introduced, aimed at connecting it with the Riverwalk and including features such as a kayak launch. Assistant Director of Planning and Zoning Stephanie Thurn elaborated on the Pet Place site plan, emphasizing the need for a Riverwalk connector to facilitate public access and noting potential funding through state and federal grants.

Additionally, a proposal for a “finger dock” along the mangroves was made to address derelict vessels in the bay. The financial overview projected $28 million available by the CRA’s end in 2034, with an emphasis on utilizing funds effectively rather than allowing them to remain unspent. Commissioners expressed general agreement on the need for continued community engagement and input in the planning process.

The council also discussed the impact of a new construction contract involving the development of a site that includes a fire station and the removal of an underground parking structure. This project will see costs shared between the CRA and the fire construction budget, with a budget amendment expected in 2024 to address these costs. A suggestion was made regarding the early reimbursement of funds loaned from the general fund to the CRA, estimated at around half a million dollars, to alleviate financial constraints on the general fund.

Further discussions covered the Community Investment Program (CIP) budget for fiscal years 2025 to 2029, with planned expenditures totaling $110 million and $22.7 million allocated for FY 2025. Concerns were raised about potential changes in the CIP based on council and community needs. Reynolds highlighted a reduction of $282,000 in the operating budget since the previous June meeting, noting an increase in ad valorem tax collections and adjustments to state shared revenue and half-cent sales tax collections due to federal interest rate hikes.

The council reviewed various infrastructure projects, particularly focusing on Riverside Drive and playground replacements. The poor condition of sidewalks along Riverside Drive was discussed, with residents reporting issues due to ongoing construction. Liability for new homeowners and the need for prioritizing repairs were also addressed. The addition of sun shades to playgrounds was considered, with concerns raised about the logistics and labor involved in their removal and reinstallation during hurricane season.

The council examined the status of Surtax funding and progress of projects financed through these funds, including significant expenditures like $12.5 million for a new police department data center and $9 million for the current town hall building. The possibility of using Surtax money to pay off an existing bridge loan owed to the general fund was discussed, with general consensus on this approach.

A significant portion of the meeting was dedicated to the police department’s memorial project, which faced delays due to the complexities of design and funding. The council expressed a strong desire to support the police department, emphasizing the importance of transparency and community input in the design process. The need for compliance with new EPA regulations regarding PFOA and PFOS reductions in the water supply was also discussed, with projected costs of over $12 million needed for compliance by 2029.

Additionally, the council reviewed the water fund budget and proposed projects, including the replacement of a 24-inch water main and the installation of a new 6-inch water main for enhanced fire protection. The importance of thoughtful investments in unincorporated areas and future incorporation strategies was emphasized.