OMNI COMMUNITY CRA

Intergovernmental and Economic Impact Committee · 2026-07-15 · resolution

Resolution approving the amended FY 2025-2026 budget totaling $73,064,289.00 for the Omni Community Redevelopment Agency and the Omni Community Redevelopment Area. The budget includes $18,408,825 of County TIF payment, $28,721,630 of City TIF payment, carryover funds of $24,024,863, Children's Trust TIF contribution of $1,808,970, and $100,000 of other income. Administrative expenditures total $3,394,220. Operating and redevelopment expenses total $69,670,068, including $31,285,468 for grants to outside organizations, $2,815,441 for debt service, $250,768 for land acquisition, $1,429,835 for construction projects in progress, and $27,727,291 for obligations with other governments. The Agency and redevelopment area are scheduled to sunset in 2047. The budget was approved by the Agency on February 12, 2026, through Resolution No. CRA-R-26-0007 and the City on February 26, 2026, through Resolution No. R-26-0094. The Intergovernmental and Economic Impact Committee forwarded it to the BCC with a favorable recommendation on 7/15/2026. The BCC agenda date is 9/1/2026, agenda item number 8G1. The redevelopment area is located within County Commission Districts 3 and 5. The Agency's revenue source is tax increment financing (TIF). A $150 million bond to fund projects is pending approval by the Board of County Commissioners, currently scheduled for its April 21, 2026 meeting.