CIP 2027-2031 (Final) - Flipbook - Page 17
PROPOSED 5 YEAR CIP - 1ST READING
JULY 16, 2026
Community Redevelopment Agency Trust Fund
The funding source for projects in this fund is Tax Increment Financing (TIF), which is a
geographically defined area designated to create redevelopment opportunities within the
Community Redevelopment Agency (CRA) and boost the tax base to increase annual TIF
payments from participating local governments. Each year the City of Eustis and the Lake
County Board of County Commissioners contribute TIF payments to the CRA.
Legally restricted, funding is to be used exclusively to fund activities and projects within the
defined geographical limits of the CRA. By taking advantage of this unique funding source,
the City seeks to foster new development and redevelopment, ultimately contributing to the
overall success and prosperity of the community within the CRA.
CRA Funding Analysis:
CRA Funding is projected to increase by approximately the same percentage that General
Fund Ad Valorem revenues are projected to increase, conservatively estimated at 5% per year
for FY 2027/31. The total FY 2027/31 CRA revenue estimate is $9,993,889 which is more than the
total revenue needed to fund all projects and other expenses of this fund. Considering inflation,
commodities and services were estimated u s i n g a 5% o p e r a t i n g expenditure increase
for FY 2027/31.
Over the next five years, the total estimated cost of projects and operating costs is $7,757,131,
with a projected ending reserve for future projects balance of $3,573,940, allowing for significant
future projects. In FY 2020/21, the CRA obtained a loan to purchase three vacant downtown
lots. The balloon payment of the loan was due in September 2025. The City’s General Fund
refinanced the remainder of the balance due, providing very favorable terms to the CRA.
Com m unity Redevel. Agency
Reserve for Future Projects, BOY
$
Actual
Estim ated
Proposed
Projected
Projected
Projected
Projected
FY 24-25
FY 25-26
FY 26-27
FY 27-28
FY 28-29
FY 29-30
FY 30-31
3,604,130
$ 1,336,121
$ 1,337,183
$ 1,501,808
$ 1,783,736
$ 1,988,488
$ 2,824,863
Revenue
677,465
642,621
674,752
708,490
743,914
781,110
820,165
Interest Earnings
149,865
175,000
180,250
185,658
191,227
196,964
202,873
Transfer from Other Funds
894,715
970,755
999,878
1,029,874
1,060,770
1,092,593
1,125,371
Total Revenue
1,722,045
1,788,376
1,854,880
1,924,021
1,995,912
2,070,667
2,148,409
Total Funding Available
5,326,175
3,124,497
3,192,062
3,425,829
3,779,648
4,059,156
-
4,973,272
Less:
Administration
Transfers Out (Salaries / Officer)
Housing Rehab
246,876
50,000
52,500
55,125
57,881
60,775
63,814
-
430,814
452,355
474,972
498,721
523,657
549,840
100,000
190,834
50,000
100,000
100,000
100,000
100,000
CRA Street Lighting
-
58,000
60,900
63,945
67,142
70,499
74,024
Development Incentives
-
100,000
105,000
110,250
115,763
121,551
127,628
240,000
198,500
198,500
198,500
198,500
198,500
20,000
21,000
22,050
23,153
24,310
25,526
Debt Service P & I
2,603,394
Non Departmental Special Projects
-
CIP Expenditures & Encumbrances
948,951
Total Expenditures
3,990,055
Net Operating Incom e (Loss)
Reserve for Future Projects
$
*
838,500
700,000
617,250
730,000
135,000
260,000
1,787,314
1,690,255
1,642,092
1,791,160
1,234,293
1,399,332
(2,268,010)
1,062
164,625
281,929
204,752
836,375
749,077
1,336,121
$ 1,337,183
$ 1,501,808
$ 1,783,736
$ 1,988,488
$ 2,824,863
$ 3,573,940
* Not all funds will be spent by end of fiscal year resulting in a large amount of encumbered funds
being rolled over into the next year using new year cash receipts
Notes:
1. Beginning Fund Balance in FY 2025/26 ties with ACFR FY 2024/25 year-end balance
2. Expenditure projections for FY 2026/27 - FY 2030/31 based on estimated cost of CIP projects
3. Assumes that project budgets are fully spent each year going forward
4. Transfer from Other Funds is the General Fund portion of TIF revenue
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