Adopted Budget Book FY 23-24 Final with TOC links - Flipbook - Page 63
Strategic → PrioriTies anD issues
●
●
●
●
of the Public Works Department, the project aims to enhance the wastewater treatment capabilities and support the city’s continued growth.
The Public Works Department will contract with an independent consultant for a Water and
Sewer Master Plans. The plan will outline and plan capital projects for the City for the next two
decades.
The Community Redevelopment Agency offers a variety of projects: development incentives
for new construction, Gateway improvement grants to encourage economic development, and
business investments within the City of Eustis.
In the fiscal year 2023-24, the City plans to implement a 5% increase in the Cost of Living
Allowance (COLA) for all full-time employees. Additionally, they will allocate funds to provide
a flat pay salary increase of $1,000 for all current full-time employees to ensure employee
retainage. These measures are being implemented with the goal of meeting the state-mandated
minimum wage of $15 per hour by 2026.
The Economic Development Department, in partnership with UCFRF (University of Central FL
Research Foundation), has established a Business Incubator. This initiative aims to offer Citybased entrepreneurs a range of development programs and services while serving as a valuable resource for startup businesses. The Business Incubator’s primary objectives include
supporting the growth of young businesses during their initial stages, fostering the establishment of new businesses in specific industry sectors, and promoting economic diversification in
the local area. Ultimately, the Business Incubator endeavors to create employment opportunities
for the residents of the City of Eustis.
Issues:
The City has many challenges and opportunities as we plan for the future fiscal year.
●
●
●
●
Based on U.S. Bureau of Labor Statistics data, the consumer price index remains a significant
concern for the economy during FY 2023. In May of FY 2023, the overall consumer price index
reached 4.9%. Rising prices in essential commodities such as food, gas, and energy primarily
drive this increase. Specifically, gas prices have substantially increased by 19.3%, while fuel oil
prices have surged by 37%. Energy costs, in general, have risen by 11.7% over the past year.
The influx of newcomers drawn to Eustis’ appeal has increased housing demand. This surge and
limited housing inventory have put pressure on the city’s housing market. Affordable housing
has become a critical concern, as some residents and newcomers face challenges finding suitable housing options within their budgets. Community leaders are exploring creative solutions
to address this issue and ensure that Eustis remains a place where everyone can find a home.
One of the most significant challenges Eustis confronts is striking a delicate balance between
growth and preserving its historical heritage. As the city attracts new residents and businesses,
there is a growing need for development and revitalization. However, this progress must be
approached carefully to preserve its Victorian-era architecture, historic landmarks, and smalltown charm that make Eustis so special. City leaders, in collaboration with the community, are
actively engaged in planning to accommodate growth while safeguarding the city’s unique
identity.
Eustis’ economy traditionally relies on tourism, small businesses, and agriculture. While these
sectors remain vital, community leaders recognize the importance of diversifying the economy
to create a more stable and sustainable future. Attracting new industries and job opportunities
is a priority, as it ensures that Eustis remains resilient in the face of economic fluctuations and
provides its residents with diverse career prospects. As Eustis experiences growth, ensuring
Back to TOC
City of Eustis, Florida
Adopted Budget
61
