Community Redevelopment Agency - Regular Meeting

Good evening, everyone. This is a meeting of the city of Port St. Lucie Community Redevelopment Agency this Monday, 09/22/2025 at 05:00PM. Madam clerk, please call the roll.

Miss Morgan? Yes, ma'am. Mister Pickett?

Yes, ma'am.

Chair Martin? Yes, ma'am. Mister Bono?

Yes, ma'am.

And please let the record reflect that vice chair Caraballo is not present.

Please stand for the pledge. Pledge allegiance to the of

The United States Of America and to the

republic for which it stands, one nation under God, indivisible, with liberty and justice for all.

Additions and deletions to the agenda and approval of the agenda. Is there a motion?

Motion to approve the agenda. Second.

All those in favor? Aye. Any opposed? Motion carries. Approval consent agenda. We have the minutes of the August 11 meeting. Is there a motion? Move approval. Second. All those in favor. Aye. Any opposed? Motion carries. Public to be heard. Would anyone like to address the CRA board? Seeing no one, we'll close public to be heard. Moving on to resolution seven a resolution 25 dash CRA dash zero three.

A resolution of the city of Port St. Lucie Community Redevelopment Agency relating to the annual budget, approving the annual budget of the agency for the fiscal year beginning 10/01/2025 and ending 09/30/2026, authorizing the expenditure of funds established by the budget, providing for conflict, providing for severability and providing an effective date.

Thank you. Good evening, miss Davis.

Hi. Good evening, chair and board. Thank you for, the meeting this evening. As you recall, it's that time of year, and we're going to be presenting, the CRA annual budget.

So our request this evening will be the, request for you to approve resolution 25 CRA zero three.

You may recall in the last several weeks, we did meet, as an agency to discuss the extension of the agency as a whole to 2055 as well as the extension of the revised original CRA area, which includes the area in red on the screen, the original CRA, as well as East Lake Village. In 2024 taxable value, we have recognized a continued upward trend of taxable value in all of the CRA areas, both the original CRA a area shown in red, and the one in orange, which is the Port District, and expansion area showed very modest increases as they are relatively built out at this time. But we did see quite the increase in the East Lake Village CRA as well as the Southern Grove CRA. So for each of those, I will go into kind of what played into those improvements.

Again, an upward trend in all of the CRA valuations since 2019, and I did break it out because they are they do have different starting taxable values, so we'll show those upward trends individually. So the total valuation of property values in the CRA is just over $1,860,000,000, and that does represent 7.26% of the overall valuation in the city. It is down slightly from last year. That percentage was 7.42 last year. So I wanted to point that out.

As we go into each of the CRAs, the original CRA, as you know, we do have a redevelopment project that will be coming forward in the next few weeks for Project Dubay. At Walton and One, we have started, preliminary site work on the site. We, completed the branding with your assistance, shifting from city center to Walton and One, and we do anticipate a large swing into the marketing after the announcement of Project Dubay. On Village Green Drive, which is adjacent to Walton And One, the corridor roadway design is under corridor roadway is under design right now and scheduled to be complete at the 2026. We do have, hog pen slew design complete for the stormwater, and that next step on that will be permitting.

For East Lake Village, this is one of the larger increases that we noticed on taxable value and that's because we did recognize a lot of the infill development, the residential development in there. So what's left in Eastlake Village for development is the commercial property at the corner of Hillmore And Leonard. There's some graphics there that share that's from the real estate firm that's brokering that site. In the Port District, we have been working through the master plan components. We did open the park last year.

Since that time, we've had nearly 460,000 visitors, to the park. The Historical Society Museum opened in the fall. We are under construction of our port trails, at the preserve, and then we are in motion with our anchor artworks. So we're excited that those will be coming online. The Boardwalk, as you recall last week, we did officially open the Boardwalk for business.

At this point, there won't be any more updates on Boardwalks because it's open and complete. So excited to share that. And then the River Food Garden, they did complete a site plan amendment that was necessary. They are in permitting right now for their Phase one, and we do anticipate a groundbreaking for what was branded as the Grove restaurant area in late October. With Southern Grove, we have completed the jobs corridor transactions.

Everything within the jobs corridor is either under contract or closed, so our shift has been to the retail components. We have a few projects we'll be bringing forward to you the next few months. There will be some infill development in there for some of the industrial activity going on. And then the infrastructure, really great progress with Anthony F. Sandstone Senior Boulevard is just waiting turnover to the city. Mackay And Marshall should be complete in early twenty twenty six. And then Destination Way is an East West 2 roadway that will be, built by a developer and is currently in permitting.

So the next two slides are excerpts from the city's overall budget book. We show the individual, funds January and January and their respective, revenues and expenses for the coming year.

And with that, we do request that you approve Resolution 25 CRA three. Thank you. Any questions?

Is there a motion?

Motion to approve.

Second. We have a motion and a second. All those in favor? Aye. Any opposed? Motion carries. Do we have any other issues? No? Seeing none, we're adjourned.