The initial taxable values received from the Property Appraiser’s Office project a 5.5% increase in values within the community, which informs the proposed budget. Notably, the City of Oviedo’s contribution is expected to be approximately $781,000, with additional funds coming from Seminole County and estimated interest income.

These include the State Road 434 to Geneva Connector Road, the Solari Park pedestrian bridge, Sweetwater Creek water quality projects, and sidewalk improvements. The CRA board members sought clarification on the cost estimates for these projects, particularly the $75,000 earmarked for sidewalks on Godwin Street, which would impact a limited number of homes.

The proposed reallocation of funds from the Franklin Street project to the Geneva Drive Connector Road was a primary focus, as it would shift a million dollars from the current year’s budget to ensure the completion of the latter project. The CRA board members agreed to consider an official budget amendment at their next meeting to finalize this reallocation.