Cape Coral City Council, sitting as the South Cape Redevelopment Agency Commission, approved the CRA’s Fiscal Year 2026 budget of $7,455,201 Wednesday.
The budget includes an updated tax increment revenue of $453,254 from the July 1 property values. The revenue comes from Lee County tax increment based on 3.7623 millage rate and the general fund transfer based on 5.2188 millage rate.
City Manager Mike Ilczyszyn, who also acts as the CRA’s executive director, said the benefit of having a CRA, versus drawing a geographic square and setting aside revenue, is receiving $3.1 million from Lee County…