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Community Reinvestment Agency Third Budget Amendment

At a glance

  • What: Budget Amendment No. 3 to the Community Reinvestment Agency's final Fiscal Year 2025-26 budget, adjusting project area funds for tax increment received, interlocal agreements with other taxing entities, reimbursement agreements with private owners and Agency operations.
  • Where it stands: Briefed May 5, 2026; public hearing held and Resolution 10 of 2026 (Agency) adopted May 12, 2026, 6-0.
  • Key figures: an additional $1.6 million in interest revenue, a $2.3 million Library accounting adjustment and a $1 million transfer from the Central Business District to Secondary Housing.

Detail

Kate Werrett introduced the amendment. Danny Walz, with Miranda Johnson and Baylee White, covered tax increment revenue, year-to-date performance, payments to taxing entities, tax increment reimbursement activity and proposed transfers from project area funds to primary housing, operations, obligated expenses and the transition holding account. Directors and Walz discussed the primary and secondary housing funds and their affordability requirements.

The Consent Agenda item setting the hearing passed 6-0 (moved by Petro, seconded by Young; Lopez Chavez absent).

May 12 hearing and adoption

Kate Werrett gave a brief overview at the public hearing, calling it the final annual tax increment adjustment for Fiscal Year 2025-26. There were no public comments. Hearing closed: moved by Director Puy, seconded by Director Young; 6-0. Resolution 10 of 2026: moved by Director Petro, seconded by Director Carlsen to approve the Fiscal Year 2026 Budget Amendment No. 3 of the Agency; AYE Petro, Puy, Wharton, Carlsen, Dugan, Young; passed 6-0. The Agency numbers its resolutions separately from the Council.

Sources

Log

2026-05-12 - Community Reinvestment Agency

Hearing with no comments; Resolution 10 of 2026 adopted 6-0.

2026-05-05 - Community Reinvestment Agency

Briefing by Walz and staff; hearing set for May 12, 2026 at 1 p.m. on consent, 6-0. See also Community Reinvestment Agency Budget Amendment for the later Fiscal Year 2026-27 Amendment No. 1.