REVENUES
The primary revenue of the Main Street Redevelopment District is generated by the portion of property taxes generated by taxable property values above the base level of $ 68,695,639 established when the CRA was created, as generated by the City of Daytona Beach, Volusia County, and Halifax Hospital. In FY 2024/25, the CRA’s TIF revenues totaled $6,323,156. The budgeted equivalent TIF revenues for the current year total $6,707,244. MAINSTREET REVENUES
The primary revenue of the Main Street Redevelopment District is generated by the portion of property taxes generated by taxable property values above the base level of $ 68,695,639 established when the CRA was created, as generated by the City of Daytona Beach, Volusia County, and Halifax Hospital. In FY 2024/25, the CRA’s TIF revenues totaled $6,323,156. The budgeted equivalent TIF revenues for the current year total $6,707,244.
Main Street Taxable Property Values
The chart provided indicates the total taxable value, segregated into the base and increment. The base represents the taxable value when the CRA was established in 1981. The district is scheduled to expire in 2036.
0 100,000,000 200,000,000 300,000,000 400,000,000 500,000,000 600,000,000 700,000,000
Increment Base
FY 2018
FY 2019
FY 2020
FY 2021
FY 2022
FY 2023
FY 2024
FY 2025
The chart provided indicates the total taxable value, segregated into the base and increment. The base represents the taxable value when the CRA was established in 1981. The district is scheduled to expire in 2036. EXPENDITURES The expenditures for FY 2024/25 included the following: • $2,508,905 for scheduled bond payments • $2,186,350 for land acquisitions • $682,020 for expenditures related to the Main Street Coquina Arch Repair project • $4,943 for East ISB Streetscape • $ 279,269 for personal services and benefits • $ 499,516 for operating expenditures. The largest operating expenditures were for grant expenditures ($239,705), projects ($122,286) information systems internal charges ($ 31,961), other contractual services ($33,599), and maintenance and repair ($15,621). EXPENDITURES – FUND 302 • The Main Street CRA refinanced its existing bonds in 2023, which resulted in an additiona $ 5,155,756 in available funds which are maintained in a separate fund. There is a remaining balance of $2,118,296. No expenses were attributed to this debt in FY 2024/25.
EXPENDITURES The expenditures for FY 2024/25 included the following: • $2,508,905 for scheduled bond payments • $2,186,350 for land acquisitions • $682,020 for expenditures related to the Main Street Coquina Arch Repair project • $4,943 for East ISB Streetscape • $ 279,269 for personal services and benefits • $ 499,516 for operating expenditures. The largest operating expenditures were for grant expenditures ($239,705), projects ($122,286), information systems internal charges ($ 31,961), other contractual services ($33,599), and maintenance and repair ($15,621). EXPENDITURES – FUND 302 • The Main Street CRA refinanced its existing bonds in 2023, which resulted in an additional $ 5,155,756 in available funds which are maintained in a separate fund. There is a remaining balance of $2,118,296. No expenses were attributed to this debt in FY 2024/25.
2024-25 CRA Annual Report | 23 | Return to Table of Contents
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