The most significant item discussed was the proposed budget for the fiscal year 2024-2025. The budget outlined projected revenues of $1,491,144 and proposed expenditures of $1,274,187. The CRA plans to cover the additional expenditures by transferring $159,272 from reserves. The budget includes several key projects based on recommendations from the CRA Advisory Board, all of which align with the CRA plan.

One notable project involves the collaboration with the Builders Association of Bay County (BBIA) for the construction of a scholarship house. The plan includes using $70,000 to purchase a vacant lot within the CRA, which would then be sold to BBIA at a discounted rate of approximately $50,000. The remaining $20,000 would be Lynn Haven’s contribution to the project. This initiative aims to promote infill housing, increase taxable value, and support construction-related scholarships for local colleges.

Another topic was the allocation of $200,000 as a placeholder for unforeseen expenses related to the Florida Avenue and Ohio Avenue improvements. The CRA has already received a $4.3 million grant from the Department of Commerce for these projects, but the additional funds are set aside to cover any costs not included in the grant.

The meeting also covered the installation of 60 decorative signposts in the downtown area to enhance the street aesthetics. These signposts are part of a broader effort to improve the overall look of the streets and complement existing decorative elements like the light fixtures in Sheffield Park.

Additionally, there was a brief discussion on the future plans for Memorial Park. The CRA is working with a planning firm on a conceptual plan for park improvements, with $80,000 allocated in the budget for construction once the plan is finalized.

The meeting concluded with a unanimous vote to approve the proposed budget for the upcoming fiscal year. The next CRA meeting is scheduled for 5:30 p.m.