Community Redevelopment Agency Meeting (CRA)
Regular MeetingEustis, FL · October 23, 2025
Minutes
APPROVED 5/7 /2026
MINUTES
Comm unity Redevelopment Agency
EUSUS Meeting (CRA)
5:30 PM - Thursday, October 23,2025 - City Hall
-
Call to Order: 5:31 p.m.
Acknowledgement of Quorum and Proper Notice
PRESENT: Mr. George Asbate, Vice Chair Gary Ashcraft, Mr. Michael Holland, Ms. Emily Lee
and Chair Willie L. Hawkins
ABSENT: Lori Pittsley, Downtown Representative; Tanya Wilder, East Town Representative
1. CRA ltem with Board Discussion and Direction
1.1 CRA Resolution Number 25-04: Refinancins of CRA Community Redevelopment Loan
Tom Carrino, City Manager, introduced Lori Carr, Finance Director, to review the CRA
loan refinancing for the Waterman site.
Ms. Carr reviewed the direction from the City Commission Workshop on August 7,
2025, to direct staff to refinance the loan through the General Fund rather than external
financing, using the same 2.875o/o interest rate. She noted that this approach offers
more flexibility, no prepayment penalties, and no closing costs. Ms. Carr also indicated
that the 1S-year loan will be paid off in 2040, well before the CRA's 2047 sunset, with
monthly payments remaining about the same as before.
Motion made by Mr. Asbate, Seconded by Ms. Lee, to approve the loan refinancing as
presented. Motion passed on the following vote:
Voting Aye: Mr. Asbate, Vice Chair Ashcraft, Mr. Holland, Ms. Lee, and Chair Hawkins.
2 Adjournment:5:33 p.m.
'These minutes rel?ecl the actions taken and portions of the drscussion duing the meeting. To review the enfile d,scussion concnming any agenda item,
go to www.eustis.org and click on the video tor the meeting. lf available, the video rccoding may be aeessible at
hftos:/lwww.voutube.com/@EustisComReZstreams or an audio recording may be requested from the office of the City Clerk.
t
CHRISTINE HALLORAN GARY RAFT
City Clerk Vice Chair
Eusts Commu nity Redevelopment Agency Page 1 of 1 October 23, 2025
Agenda
AGENDA
Community Redevelopment Agency
Meeting (CRA)
5:30 PM – Thursday, October 23, 2025 – City Hall
Call to Order
Acknowledgement of Quorum and Proper Notice
1. CRA Item with Board Discussion and Direction
1.1 CRA Resolution Number 25-04: Refinancing of CRA Community Redevelopment Loan
2. Adjournment
This Agenda is provided to the Commission only as a guide, and in no way limits their consideration to the items contained hereon. The
Commission has the sole right to determine those items they will discuss, consider, act upon, or fail to act upon. Changes or amendments to
this Agenda may occur at any time prior to, or during the scheduled meeting. It is recommended that if you have an interest in the meeting,
you make every attempt to attend the meeting. This Agenda is provided only as a courtesy, and such provision in no way infers or conveys
that the Agenda appearing here is, or will be the Agenda considered at the meeting.
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286.0105). In accordance with the Americans with Disabilities Act of 1990, persons needing a special accommodation to participate in this
proceeding should contact the City Clerk 48 hours prior to any meeting so arrangements can be made. Telephone (352) 483-5430 for
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