AGENDA REPORT
DATE: September 8, 2025
TO: City Commission
FROM: Bill McDaniel, City Manager
SUBJECT: CIP Budget Adjustment for Fiscal Year 2024-25
EXECUTIVE SUMMARY:
This CIP budget adjustment provides $3,600,000 for the “Legacy Park” project (PK044) using Community Investment Tax funds. The funds will be allocated from the following CIT projects:
$150,000- Funding source for the Public Training Facility (FD007) will be moved to
Police Impact Fees.
$634,920 – The old Street Resurfacing (ST001) will be closed, and 1 mil money will
continue to be used.
$220,366 - Franklin Street Drainage (SW008) has sufficient funding sources to cover the
cost of this project.
$600,000 – Combined two projects and renamed SGMCC Playground and Splash Park
(PK028). Changed funding source to CRA with a budget adjustment on the CRA agenda.
$242,900 – Close Mountain Bike Trail Park (PK046).
The remaining $1,751,814 is available from completed CIT projects to provide $3,600,000 to “Legacy Park” (PK044), which will be retitled.
RECOMMENDATION:
That the City Commission adopt a resolution to approve an amendment to the Capital Improvement Budget for the fiscal year ending September 30, 2025, and the next four years.
FISCAL IMPACT:
Funding for this item is listed on the attached resolution.
Prepared by: Diane Reichard, Chief Financial Officer