09-17-1990
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Agenda/C
. 9-17-90
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AGENDA
Community Redevelopment Agency
September 17, 1990
9:00 A.M.
I. Call to order
II. Approval of Minutes of 9/4/90
III. Proposed 1990/91 Budget
IV. Adjournment
CRA
1
9/17/90
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COMMUNITY REDEVELOPMENT AGENCY
CLEARWATER CITY COMMISSION
Agenda Cover Memorandum
Item /I
Meeting Date: 9 /20 L 9 0
Subject:
1990/91 COMNUNITY REDEVELOPMENT AGENCY BUDGET
Recommendation/Motion:
Approve the 1990/91 proposed budget as submitted.
o and that the appropriate officials be authorized to execute same,
BACKGROUND:
The proposed budget is virtually identical to the budgets of previous years with the
exception of $375,342.20 being dedicated to land acquisition and development. Although
no specific sites have been identified, it is anticipated the Downtown Market Assessment
Study will recommend properties that should be acquired by the CRA for future
development. In addition, and again depending on the final outcome of the Assessment
Study, it may be necessary to fund specific marketing trips and/or trade show
expenditures from this line item.
The 'other 1 ;ne item expenditures are transfers to the parking fund for weekend free
parking; an administrative transfer to the general fund to pay for the eRA staff
operating costs; debt service and a small miscellaneous account.
The revenues are from the tax increment revenues,' cash carried forward, interest
earnings, and lease payments and payments from the Downtown Development Board.
Reviewed by:
Legal n/a
Budget ~
Purchasing n / a
Risk Mgmt. n 7 a
~~M ~
Other
Originating Dept.:
Economic Developmt
Costs:
Commission Action:
o Approved
o Approved w/conditions
o Denied
o Continued to:
Total
User Dept.:
Current FY
Funding Source:
o Capt. Imp_
o Operating
o Other
Attachments:
Proposed 1990/91 Budget
Submitted by:
Advertised:
Date:
Paper:
IX] Not required
Affected parties
Q~ified
~ Not required
o None
Appropriation Code:
.., City of Clearwater
COMMUNITY REDEVELOPMENT AGENCY
Original Revised Original
1989/90 1989/90 1990/91
--...--------- ------------ ------------
REVENUES:
Restricted Cash-Debt Service 142,700.00 175,756.39 163,674.90
Increment Revenues 723,845.00 715,908.54 727,776.00
Less Debt Service transfers (144,770.00) (145,176.11) (147,851.20)
Downtown Development Board 10,430.00 9,972.00 11,480.00
Lease Revenues 15,750.00 15,750.00 37,750.00
Interest Earnings 10,000.00 35,000.00 35,000.00
Sale of Land 157,990.00 153,730.00
Total 915,945.00 960,940.82 827,829.70
Expenditures:
Transfer to Parking 21,000.00 21,000.00 21,000.00
Professional Services 92,500.00
Downtown Market Assessment 40,000.00
Taxes 7,000.00
Other Miscellaneous Exp 6,000.00 5,000.00
Administrative Transfer 96,350.00 101,345.00 97,630.00
Saturday Downtown Parking 15,000.00 15,000.00 15,000.00
Land Acquisition Debt Service 177,445.00 177,445.00 170,695.00
Parking Garage Debt Service 143,640.00 143,487.50 143,162.50
Future Land Acquisition/Development 170,652.00 255,800.32 375,342.20
Streetscape Construction 8,505.00
Pedestrian Park Development 192,358.00 192,358.00
Total 915,945.00 96'0,940.82 827,829.70
Balance
0.00
0.00
0.00