August 4, 2026 CRA Board Agenda Packet.ada

August 4, 2026 CRA Board · 2026-08-04 · agenda_packet

The document is an agenda and staff memorandum for the August 4, 2026, Downtown Community Redevelopment Agency Board meeting. The only action item is a request for approval of a Joint City-CRA Interlocal Agreement regarding repayment of the Capital Improvement Note, Series 2018. The agreement formalizes the CRA's commitment to annually budget and transfer available tax increment revenues to the City for reimbursement of debt service associated with public parking improvements located at the intersection of Baker Street and 3rd Avenue. The City's total debt liability for the parking improvements was originally $1,515,000, annual debt service is $230,000, and the debt is scheduled to be paid off in 2028. The recommendation is for the Board to approve the agreement and authorize the CRA Board chairperson to execute it. No public comment is stated in the document.