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05-20-1993 , ,t ),1. \ ' '. . 7..\, . I , . , ' , " \ " ,," "'. ","...j , . . - . . . . . Agenda/C 5-20-93 o 77 / ~!.., .', ~ I " t . , \ . ~ I. '. \ f I ~. ''1- , - ',;z . 1.. '. \ ,. "," ~: u.t v ,'.",._, V:' . :'" .', .,. ',~ <- ",' :'< ;,'! AGENDA Community Redevelopment Agency May 20, 1993 4:30 P.M. I. Call to order ,', II. Approval of Minutes of: 5/6/93 III. Res. #93-2 - Rules of Conduct IV. Business Incubator Report - ~o~ed +0 413 \93 v. Direction re: Executive Director Ad VI. Public/Private partnership - VV\.,o\l eJ ~ &t3\q3 VII. Annual Report & Audit Requirements VIII. CET A (STEPPS) Building Report IX.. CRA Financial Statement X. Adjournment " ~ , , \>~.tl-i'j.:::"f,;>~,:":-,:"",;;.,~,:""t\""1',,;""'~,,,,1"''':''''~<:..,I~'''';; '" .:. ~~,,'\.,r'>'.:'.-;::'> ,;,;,,, r "', ;'1." I I ( M E M 0 RAN 0 U M TO: The Honorable Mayor and Members of the City Commission sitting as the Community Redevelopment Agency M. A. Galbraith, Jr., City Attorney ~. CRA Rules FROM': RE: DATE: May 13, 1993 Here are the first two pages of the proposed rules for the Community Redevelopment Agency, with the first five rules modified in accordance with your May 6 meeting. The City Clerk and I have reviewed our notes, and we believe this edition accurately reflects your changes. If other changes are necessary, please let us know. MAG:a Enclosures Copies: Michael Wright, City Manager Cynthia Goudeau, City Clerk RESOLUTION NO. 93-2 A RESOLUTION OF TilE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF CLEARWATER, FLORIDA, ADOPTING A SET OF RULES TO GUIDE THE COMMUNITY REDEVELOPMENT AGENCY IN CONDUCTING ITS BUSINESS AND MEETINGS; PROVIDING AN EFFECTIVE DATE. WHEREAS, the Community Redevelopment Agency of the City of Clearwater, Florida, was established by Resolution 81-68 of the City of Clearwater, pursuant to provisions of state law; and WHEREAS, the Community Redevelopment Agency desires to adopt and implement a revised set of rules or guidelines; now therefore BE IT RESOLVED BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF CLEARWATER, FLORIDA: Section 1. The Co~nunity Redevelopment Agency of the City of Clearwater, Florida, hereby adopts the following rules to govern it in the consideration of its affairs and business presented to it: RULE 1 The m~mbership of the Community Redevelopment Agency of the City of Clearwater, Florida CIAgencyll), shall be composed of the five members of the Clearwater City Commission and two ex-officio non- vot ing members of the Downtown Deve lopment Board or owners of property within the CRA district. A quorum for the transaction of business by the Agency shall consist of three voting members. Any act i on to be approved wi 11 need a major i ty vote of the vot i ng membership. A Chair and Vice-Chair of the Agency shall be elected at the second meeting in April of each year by the voting members on an annua 1 bas i s to serve for one year. In case of the Cha ir I s absence, the Vice Chair shall assume the responsibilities of the Chair. If both are absent, the senior Agency member in years of service shall preside. The Chair shall run the meeting and preserve order. The Chair shall recognize all members who seek the floor under correct procedure. Members of the public shall be allowed to speak. RULE 2 The Agency shall hire an Executive Director whose presence is required at all Agency meetings. The Executive Director shall establish the staffing of the office with the approval of the Agency. The Executive Director shall report directly to the Agency. The Executive Director shall be hired and removed by a majority of the voting members of the Agency. RULE 3 The Secretary for the Agency shall provide minutes of the proceedings of each Agency meeting, and sllall furnish copies of the .~ . . ~ ,. '. ~ . f '\ 1',\ I . . . i '. ' .1 " . \ ", I ~) . I'f / " . ~ ... \; , It. . minutes of each regularly scheduled meeting to the Chair and to each Agency member at least seven days prior to the next regular meeting. Such minutes shall stand confirmed at the regular meeting of the Agency without the reading thereof in open meeting unless some inaccuracy or error be pointed out by some member of the. agency present, and in such event, an appropriate correction shall be made. Upon request, the Executive Director will cause the Secretary of the Agency to provide any member with transcribed excerpts of tapes of Agency meetings. RULE 4 [Deleted. In final draft, subsequent rules will be renumbered accordingly.] RULE 5 A copy of the minutes of each Agency meeting and of each resolution when passed shall be furnished by the Executive Director to the City Manager. RULE 6 T e Agency shall meet immediately prior to the conduct regularly sc duled business meetings of the City Commission an chedule work sess. ns immediately prior to regularly scheduled ark sessions of the Ci Commission. Special meetings of the Ag cy shall be called from tim to time by the Chair, Executive Di ctor, or any two of the member Every effort shall be made 0 provide at least 48 hours public otice of any special mee ngs. Except for items advertised for p lic hearings, items m be removed from the agenda and add i t iona 1 iter may be added. e agenda may be re-ordered. Minutes shall be take and distribu ed by the City Clerk. The Agency shall appoint any c ittees or advisory boards as may be required for successful exec -io of Agency business. According to applicable provisions of tate law, no member shall voluntarily or involun ari1y acquire any ersona1 interest, direct or i nd i rect, in any co mu n i ty redeve 1 opment roject, J n any property included or propose to be included in any mmunity redevelopment project, or in any ontract or proposed contra t in connection with any community edevelopment project. S uld any member involuntarily _quire any interest in a commun redevelopment project, that nterest shall be immediately disc10 ~d in writing. I f any membe present ly owns or contro 1 s or owned O{ contra 11 ed within the eceding two years any interest, direct or ~direct, in any prope y included or planned to be included in a community 2 " . "'\.. ;."~ ... \ ,', . ,".;", ,;...' : : \ I .'.'. ~ .;.. .".:.'., .., : >' I ',,' " .:' ... ~ J \, .' " . I ., ~ J1l- RESOLUTION NO. 93- A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF CLEARWATER, FLORIDA, ADOPTING A SET OF RULES TO GUIDE THE COMMUNITY REDEVELOPMENT AGENCY IN CONDUCTING ITS BUSINESS AND MEETINGS; PROVIDING AN EFFECTIVE DATE. HEREAS, the Commun i ty Redeve 1 opment Agency of Florida, was established by Resolution 81-68 of the Ci to provis.ons of state law; and have such e City of Clearwater, of Clearwater, pursuant the Community Redevelopment Agency' at the present time does not a set of uidelines or rules to guide it i the conduct of business; and WHEREAS, t)E\ Commun i ty Redeve lopment Ag cy des i res to adopt and imp lement a set of rul~ or guidelines; now ther ore BE IT R~LVEO BY THE COMMUNI REDEVELOPMENT AGENCY OF THE CITY 0 CLEARWATER, FLO DA: Section 1. The Com nity Redev opment Agency of the City of Clearwater, Florida, hereby adopts the ollowin rules to govern it in the consideration of its affairs and business pre ented to it: RULE 1 The membership of the Co mun'ty Redevelopment Agency of the City of Clearwater, F 1 or i da (II gency , sha 11 be composed of the Mayor- Commissioner, Commiss oners 0 the City of Clearwater, one ex- officio representati e from th Downtown District, who shall be elected by the pro .rty owners i that district and an Executive Di rector whose pr ence is requ i d at a 11 Agency meet i ngs. A quorum for the tr nsaction of busin s by the Agency shall consist of three member. The pres i ding of i eel" of the Agency sha 11 be elected by the ody on an annual basi to serve for one year and shall be known as the Chair of the Agen . In case of the Chair's absence, the ice Mayor shall assume the responsibilities of the Chair, and ' both are absent, or if the air and Vice Mayor are the same p son, the senior Commissioner in ears of service shall preside. he Chair shall preserve order. e Chair may call to order an member of the Agency who shall viola ~ny of the rules; and the Chair shall decide all questions of 0 er, subject to a majori y vote on a motion to appeal. The Chair sh 11 recognize all membe s who seek the floor under correct procedh.re. Normally, memb rs of the public shall be allowed to speak. \All questions sha 1 be stated and put by the Chair, and the Chair,hall declare al votes. RULE 2 / The Agency shall hire an Executive Director who shall estab ish his own staff for the management of the Agency. The Executive D~rector shall report directly to the Agency. The Executive Director\ shall an affirmative vote of four members or by a voting for removal ~ two separate meeting apart. I / RULE 3 / / The City Clerk shall serve s the setctary for the Agency and shall provide minutes of the proc dings 0 each Agency meeting, and shall furnish copies of the minute of eao regularly scheduled meeting to the Chair and to each member at ~ast seven days prior to the next regular meeting. Such minute sfall stand confirmed at the regular meeting of the Agency withou~ he reading thereof in open meeting unless some inaccuracy or err be pointed out by some member of the agency present, and in such ve t, an appropriate correction shall be made. Upon request, th Exe tive Director will cause the City Clerk to provide any mem r with transcribed excerpts of tapes of Agency meetings. be hired and removed b majority of the member held at least two weeks " ~ All motions shall be made and sec nded before debate. All resolutions and on tracts require th ee affirmative votes for passage. RULE 5 A copy of ea Clerk to th resolution when passed shall be urnished by the City heads of all City departments conc~ned. \, - RULE 6 ~------- ----- --...._~-.___w The Agency shall meet immediately prior to the conduct of regularly scheduled business meetings of the City Commission and schedule work sessions immediately prior to regularly scheduled work sessions of the City Commission. Special meetings of the Agency shall be called from time to time by the Chair, Executive Director, or any two of the members. Every effort shall be made to provide at least 48 hours public notice of any special meetings. Except for items advertised for public hearings, items may be removed from the agenda and additional items may be added. The agenda may be re-ordered. Minutes shall be taken and distributed by the City Clerk. RULE 7 The Agency shall appoint any committees or advisory boards as may be required for successful execution of Agency business. RULE 8 According to applicable provisions of state law, no member shall voluntar~ily or involuntarily acquire any personal interest, direct or indirect, in any community redevelopment project, in any property 2 . .. included or proposed to be included in any community redevelopment project, or in any contract or proposed contract in connection with any commun i ty redeve lopment project. Shou 1 d any member involuntarily acquire any interest in a community redevelopment project, that interest shall be immediately disclosed in writing. If any member present ly owns or contra 1 s or owned or contro lled within the preceding two years any interest, direct or indirect, in any property ; nc 1 uded or planned to be ; nc 1 uded in a commun i ty redevelopment project, that interest shall immediately be disclosed in writing, and such disclosure shall be entered upon the minutes of the City Commission of the City of Clearwater. Any member disclosing such interest shall not participate in any decision of the Agency affecting such property. RULE 9 The City officials whose regular attendance shall be required during the sittings of the Agency shall be the City Manager, City Clerk, and the City Attorney or their substitutes; but all or any officers of the City shall be bound to attend any meetings upon direction of the Executive Director or by special request of any member to the Executive Director. RULE 10 No citizen, except those determined to be out of order and subject to remova 1 by the Ch i ef of Po 1 ice, s ha 11 be exc 1 uded from any meeting of the Agency whether it be regularly scheduled or specially called. RULE 11 Any member of the Agency who voted with the prevailing side may move a reconsideration of any action of the whole Agency provided that the mot ion be made at the same meet ing at wh; ch the act i on was taken. A motion to reconsider shall be in order at any time (during the meeting at which the action was taken) except when a motion on some other subject is pending. No motion to reconsider shall be made more than once on any subject or matter at the same meeting. Agency action may be rescinded by a 4/5 vote. The motion maybe made by any member. RULE 12 The Executive Director, City Manager, City Attorney, or any member may agenda an item. Any citizen may request to be agendaed, even though staff has assured petitioner that adverse action may result. The Chair cannot depart from the prescribed agenda but the Agency may do so by a 4/5 vote or by consensus in response to a suggestion from the Chair. 3 .. I I "1\ \\' '\' ' ~' " . _ ~ I ' I" .' .... ,,, V ~ I I j RULE 13 These rules, or any of them, with the exception of prov1510ns of state law, may be amended or temporarily suspended at any meeting of the Agency by an affirmative vote of four members thereof. These rules are for the efficient and orderly conduct of the business of the Agency only, and no violation of such rules shall invalidate any action of the Agency when approved by the majority votes. RULE 14 Any member of the Agency making a motion or second shall address the Chair and await recognition before speaking. The Chair must recognize any person who seeks the floor while entitled to it. The person making the motion is entitled to the floor first for debate. No one is entitled to the floor a second time on the same motion as long as any other member who has not spoken on the issue desires the floor. When a motion is made and seconded, it shall be stated by the Chair before any debate shall be in order. Upon presentation of agenda items, members may ask quest ions and request additional information prior to making motions. For a member to discuss a matter while no motion is pending requires permission from the Agency. r10tions and any amendments can be withdrawn or modified by the maker at any time prior to the Chair stating the question on the motion; after that time, the permission of the Agency majority must be obtained. The Chair cannot close debate as long as any member who has not exhausted his right to debate desires the floor except by an affirmative vote of four members. A tie vote shall constitute a continuance to the next regularly scheduled meeting. RULE 15 The following motions are not debatable: To adjourn To lay on the table To take from the table For the previous question. RULE 16 Individuals speaking on non-agenda items shall be limited to five minutes. RULE 17 All material prepared by the Executive Director for the Agency shall be provided to the press and to the public via a special box in the City Clerk's office. Reports shall be made available in the Clerk's office. Reports shall be made available in the Clerk's office for the public to check out and study at leisure. 4 ."i' . /' " .',., 'I'.')"'" ,I. ..' J , ,I '\ If I ,\ t " t. ,- \. I ,: } ,I ,', ',,' ", \ "I \ , RULE 18 All mail to the Agency Chair and members arrlvlng at City Hall received pursuant to law or in connection with the transaction of official business by the City of Clearwater shall be copied immediately and provided to other members and to the press with the following exceptions: (a) Mail from governmental agencies, addressed to the Chair clearly intended for the Chief Administrative Officer and the Agency '{.'hich requires administrative action or staff action, will be delivered to the Executive Director. with informational copy to the Chair and copies to board members. (b) Anonymous letters will not be distributed. (c) Publications and lengthy agenda materials for other boards upon which the members serve will not be copied. Only the agendas will be circulated. Items of considerable length (such as petitions) will not be copied, but i:1stead a member wi 11 be distributed announcing the availability of the item in the office. (d) Ma il with the words s 1mi 1 ar to "Persona 1 , II "Confidential,1I or IIFor the Addressee Only" will be delivered unopened to the addressee. (e) The Chair and members receiving individually addressed mail will be responsible for replying, asking the Executive Director or City Attorney to reply, or placing the matter on the agenda for formal Agency consideration. (f) The Executive Director will be responsible for seeing the mal 1 addressed to the Chair and other members is properly answered or placed on the agenda. ( g) Except as pro v i ded here in, or as may be requ ired by Florida law or the City Charter, the rules of the Agency for the conduct of its business shall be as provided in the most recent edition of Robert's Rules of Order. Section 2. This resolution shall take effect immediately upon adoption. PASSED AND ADOPTED this day of , 1993. Attest: Cynthia E. Goudeau City Clerk Rita Garvey Chair 5 ,_.~ .-. '. .' '.~ ~~ <1 : ,... ~ ;', ... -. 't., :.;'. ,r.,,,, . - ~ MEMORAND'()1\1 COPiES to: COMMISSlON PRESS Date M~Y 05'1993 CITY Gt.Blt\ TO: COPIES: The City Commission f)L Mayor Rita Garvey 1(J.Yf -III Mike Wright, City Manager; Al Galbraith, City Attorney .- FROM: SUBJECT: Community Redevelopment Meeting DATE: May 5, 1993 Because of a prior commitment in Tampa that I could not get out of, I may be late to the CRA meeting at 4:30 on Thursday. I will try my best to be there on time, but it will depend on traffic more than anything else. r am suggesting some modifications of the proposed rules of procedures for the eRA. I ask if you would hold discussion on them until I arrive to explain my rationale although basically what they do, I believe, is simplify the rules. ---------.. ... ~- ,. . _..~.._.._..--~.__._. _-_..___.._..'......__T_.._... .....,... ..-;_.:-_~__.....__"'?-...._&. . _....,... .... ".' RESOLUTION NO. 93- A RESOLUTION OF mE COMMUNITY REDEVEWPMENT AGENCY OF THE CITY OF CLEARWATER, FLORIDA, ADOPrING A SET OF RULES TO GUIDE TIlE COMMUNITY REDEVELOPMENT AGENCY IN CONDUCTING ITS BUSINESS AND MEETINGS; PROVIDING AN EFFECTIVE DATE. WHEREAS, the Community Redevelopment Agency of the City of Clearwater, Florida, was established by Resolution 81-68 of the City of Clearwater, pursuant to provisions of state law; and WHEREAS, the Community Redevelopment Agency at the present time does not have a set of guidelines or rules to guide it in the conduct of business; and WHEREAS, the Community Redevelopment Agency desires to adopt and implement such a set of rules or guidelines; now therefore BE IT RESOLVED BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF CLEARWATER, FLORIDA: Section 1. The Community Redevelopment Agency of the City of Clearwater, Florida, hereby adopts the following rules to govern it in the consideration of its affairs and business presented to it: RULE 1 The membership of the Community Redevelopment Agency of the City of Clearwater, Florida ("Agency"), shall be composed of the five members of the Clearwater City Commission and two ex-officio non-voting members of the Downtown Development Board. A quorum for the transaction of business by the Agency. shall consist of three '" ;. ~. .~. . '; . . ~.' voting members. Any action to be approved will need a majority vote of the voting membership. The Chair and Vice Chair of the Agency shall be elected by the body on an annual basis to serve for one year. In case of the Chair's absence, the Vice Chair shall assume the responsibilities of the Chair. If both are absent, the senior agency member in years of service shall preside. The Chair shall run the meeting and preserve order. The Chair shall recognize all members who seek the floor under correct procedure. RULE 2 The Agency shall hire an Executive Director whose presence is required at all Agency meetings. The Executive Director shall establish the staffing of the office with the approval of the Agency. The Executive Director shall report directly to the Agency. The Executive Director shall be hired and removed by a majority vote. RULE 3 - OMIT RULE 4 - OMIT RULE 5 - OMIT RULE 6 The Agency shall have regularly scheduled meetings. Special meetings of the Agency shall be called from time to time by the Chair, Executive Director, or any two of the members. Every effort shall be made to provide at least 48 hours public notice of any special meetings. The Executive Director or any member may agenda an item. Except for items advertised for public hearings, items may be removed from the agenda, additional items may be added, or be re-ordered. The Office of the Executive Director shall be responsible for the minutes of Agency meetings and , ,~... " :!.f ,: ., distribution thereof. RULE 7 The Agency may appoint any committee or task force as may be required for successful execution of Agency business. RULE 8 According to applicable provisions of state law about conflict of interest, no member shall voluntarily or involuntarily acquire any personal interest, direct or indirect, in any community redevelopment project, in any property included or proposed to be included in any community redevelopment project, or in any contract or proposed contract in connection with any community redevelopment project. Should any member involuntarily acquire any interest in a community redevelopment project, that interest shall be immediately disclosed in writing. If any member presently owns or controls or owned or controlled within the preceding two years any interest, direct or indirect, in any property included or planned to be included in a community redevelopment project, that interest shall immediately be disclosed in writing, and such disclosure shall be entered into the minutes of the Agency. Any member disclosing such interest shall not participate in any decision of the Agency affecting such property. RULE 9 - OMIT RULE 10 No citizen, except those determined to be out of order and subject to removal by the Chief of Police, shall be excluded from any meeting of the Agency whether it be regularly scheduled or specially called. f,'. I:;'.,,> RULE 11 Any member of the Agency who voted with the prevailing side may move a reconsideratiC''1 of any action of the Agency provided that the motion be made at the same meeting at which the action was taken. A motion to reconsider shall be in order at any time (during the meeting at which the action was taken) except when a motion on some other subject is pending. No motion to reconsider shall be made more than once on any subject or matter at the same meeting. Agency action may be rescinded by a 4/5 vote. The motion may be made by any member. RULE 12 - OMIT The Executive Director or any member may agenda an item. RULE 13 These rules with the exception of provisions of state law, may be amended or temporarily suspended at any meeting of the Agency by an affirmative vote of four members thereof. These rules are for the efficient and orderly conduct of the business of the Agency only, and no violation of such rules shall invalidate any action of the agency when approved by the majority votes. RULE 14 Upon presentation of agenda items, members may ask questions and request additional information prior to making motions. When a motion is made and seconded, it shall be stated by the Chair before any debate shall be in order. The person making the motion is entitled to the floor first for debate. No one is entitled to the floor a second time on the same motion as long as any other member who has not spoken on the issue desires the floor. Motions and any amendments can be withdrawn or modified ~ . (\.;.,,". . '. l ., / .' \"'. I' J .' .' .... I'. .' . '"'t" . , - . . . \ by the maker at any time prior to the Chair stating the question on the motion; after that time, the permission of the Agency majority must be obtained. The Chair cannot close debate as long as any member who has not exhausted their right to debate desires the floor except by an affirmative vote of four members. A tie vote shall constitute a continuance to the next regularly scheduled meeting. RULE 15 The following motions are not debatable: To adjourn To lay on the table To take from the table For the previous question RULE 16 Individuals speaking on non-agenda items shall be limited to five minutes. RULE 17 All material prepared by the Executive Director for the Agency shall be provided to the press and to the public via a special box in the Executive Director's office. Reports will be made available in the Executive Director's office for the public to reVIew. RULE 18 . . All mail to the Agency arriving at City Hall received pursuant to government in sunshine law or in connection with the transaction of official business by the Agency shall be copied immediately and provided to all members and to the press with the following exceptions: ',:', -'.'1 '.: JI: ~. 1..;~ (a) Mail from governmental agencies, addressed to the Chair which is clearly intended for administrative action, will be delivered to the Executive Director with informational copies to aU Agency members. (b) Anonymous letters will not be distributed. (c) Only the agendas will be circulated. Items of considerable length (such as petitions) will not be copied, but instead a memo will be distributed announcing the availability of the item in the office. (d) Mail with the words similar to "Personal," "Confidential," or "For the Addressee Only" will be delivered unopened to the addressee. If it is related to Agency business, it should be made available to the Executive Director to distribute to all Agency members and public, i.e. public records law. (e) The Executive Director will be responsible for seeing the mail addressed to the Agency members is properly answered or placed on the agenda. (t) Agency members receiving individually addressed mail will be responsible for replying, asking the Executive Director to reply, or placing the matter on the agenda for formal Agency consideration. (g) Except as provided herein, or as may be required by Florida law or the ,. ,,' \' j' , " \' I " J', ... I' " / ,I \, I , . I ' ," '. \ I \ . \ !'/. \., ' I' \ I, . \' : ~...~ ~". '~ City Charter , the rules of the Agency for the conduct of its business shall be ;. f as provide in the most recent edition of Robert's Rules of Order. 'J : "',' ~:. Section 2. This resolution shall take effect immediately upon adoption. PASSED AND ADOPTED THIS day of , 1993. Attest: Cynthia E. Goudeau City Clerk Rita Garvey Chair ','" . 'I , ,!', : \ _~.. " i I / \",\ . I / " . h ('. ( \ : \ , ), I, '\ I I \ { I .. " . .... '. .' \ ". MEMORANDUM -- V I. TO: Michael J. Wright, City Manager FROM: Jerry D. Sternstein, Economic Development Director9~ - SUBJECT: Public/Private Ventures DATE: Ma y l, 1 99 3 The issues surrounding new project development, particularly in downtowns, are qui te complex; no subject is as conceptually intricate or emotionally charged as public/private cooperative ventures. The purpose of this paper is to examine this process and give a balanced perspective from which rational policy discussions can emanate. For many years, mas t real es ta te or pro ject developmen t took place in an ordered framework which separated the public and private sectors. The private sector pursued their diverse efforts and focused their energies on developments where investment return potential reigned supreme. If the bottom line on the proforma was not encouraging, a project was simply shelved. The public sector was interested only in regulating the development and providing necessary support services like infra-structure, schools, fire and police protection. There were always historical exceptions to this role. The federal and state governments have, upon occasion, been willing to be handmaidens to development whenever the policy imperatives were compelling enough. Examples of this can be found in the post civil war transcontinental railroad ventures. The federal government dealt away vast public land right-of-ways to railroad specula tors in order to encourage these enti ties to undertake costly and risky rail routes. Obviously, public policy dictated the economic st.imulus of the private sector to bring about the desired result of tying the east and west coasts together with a ribbon of steel t.racks. The early nineteenth century canal building also serves as an example of public/private commingling with not always good results. There were times when the private sector simply would not assume large scale risks. Perhaps the greatest real estate venture in our country's history, the Louisiana Purchase, would have been stillborn had it not been for the federal government's sponsorship of the Lewis and Clark Expedi tion. Once this heroic expedi tion charted the pa th, land development and the westward migration toward Manifest Destiny began. What has all this history to do with our present day situation? The answer, in short, is a great deal. When the risk seems too grea t and the an ticipated return on investment too small, the - 1 - ~ private sector will generally not undertake a public sector typically intervenes with some prods the private sector to move forward. project. inducement The that Since our subject is downtown redevelopment and not railroads or canals, let's look at the problems we face. Those who study downtowns agree tha t events of the past forty years have had a profound influence on the decline of the downtown. * Rise 'of the automobile and the decay of mass transit systems. * Highway construction which opened peripheral areas of the city to residential development, leading to the suburban exodus. * Development of strip and suburban shopping malls to service the needs of the suburbanites. * Inability of the downtown to compete with the perceived conveniences offered by malls and to accommodate the rapidly emerging automobile culture. * Scattered, unconcentrated downtown land ownership making large land assembly cost prohibitive_ From a retail aspect, malls and shopping centers tend to "out market" downtowns. They offer shopping diversity and convenience and have financial resources that downtown interests can only envy but not possess. Malls are unified in their marketing with products that are well defined. Downtowns Rre hampered by a lack of consensus that even extends to hours of operat.ion. Malls possess a friendly shopping environment with a mix of products that draws customers to the facility. Parking, the difficulty and cost of land assembly, traffic access and congestion make downtown projects--office and retail--almost impossible to launch. Downtown land values are usually too costly to support residential projects without a significant writedown in land value. Add to this recipe the economic doldrums of the past five years which severely restricted investor capital and credit and you have development dollars chasing only the very few, safe projects. Not too dissimilar to the railroad scenario of the past century. Hence, the need for a merging of the public/private interests and resources to stimulate project initiation in the less attractive downtown areas of the nation. For public officials who ailing downtowns, there public/private ventures. are commi t ted to a rebirth are not many alternatives The range of options are: of to their using * Market the downtown on its own (limited) merits. Offer a developer, nothing except bureaucratic cooperation. - 2 - .., I.", ',",'. * Undertake the development entirely with public funds assuming all risks. * Do nothing and hope that the downtown will regenerate itself. This is the "miracle option". * Find a private partner, prudently negotiate terms and initiate a project in which the participants share the risks of failure and the fruits of success. If one accepts these options as valid, a city's development role can be summarized in the following manner: *Contractor. The city uses public monies to move a project forward. In this sense, the public sector is the "development engine" that gives the project momentum. *Facilitator. The city gives incentives or inducements to expedite the project. Land assembly, land write-downs, subordination of interest, parking and infra-structure improvements are typical. *Expediter. The city helps to remove bureaucratic roadblocks that delay, complicate or impede the development's progress. Generally, cities that become involved in development blend these roles to fit the particular needs of the project. A recent issue of the Downtown Idea Exchange had this to say: In the foreseeable future....developers will not be the drivers of downtown projects. The public sector, and its close relatives in the quasi-public sector--improvement distric~s, public corporations, authorities, associations and all sorts of hybrids--will expand their downtown economic role and power. They will identify development potentials, conceptualize projects, work out the mechanics and legalities, manage the negotiations, provide some financial underpinnings and push the whole process forward. What recent events brought the public sector into this co- developer plus role? During the urban renewal days of the mid 1950's to late 1960's, development programs were created by those officials most removed from the local scene--federal bureaucrats in t-Jashington, D.C. City officials were assigned activities relevant to site acquisition and clearance. They were to assure that these activities conformed to the specifications of the redevelopment plan that was done in Washington. The grand .scheme assumed that once the land was assembled and cleared, private interests would purchase the land and develop it in compliance with the plan. Since market conditions were frequently downplayed when the grandiose plans \'lere formula ted I developer - 3 - ,. ", ,I", / ~/, \",,' ",~ I ."'1,., . .'../ /_' ~. 1,',1 '.',' ,/ .<, J~I\ /1,.( /" response was not overwhelming and prime, assembled, cleared urban parcels lay fallow for decades forming an empty wasteland in the center of many cities. Years later, a few cities like Baltimore, Maryland were able to "turn around" their vacant parcels and in Baltimore's instance, initiate the Inner Harbor Project with the Rouse group. With the advent of the Community Development Block Grant Program in the 1970's, cities began to become more involved in the development process. As the federal government began to disengage itself from direct manipulation of the urban scene, ci ties were thrust in to the vacuum. The much loved and much missed Urban Development. Action Grant (UDAG) was, in essence, a prime public/private development tool. This program brought city officials into intimate contact with developers and removed any doubt relevant to the codevelopment nature of the emerging rela tionships. Publicjpr i va te dealmaking reached its pinnacle. The old image of hapless, passive public officials being played for all their worth by crafty, manipulat.ive developers vanished. PUblic/private ventures cast the respect.ive participants in roles that were far from traditional. Instead of regulatory enforcer and infra-structure provider, roles were blurred according to the imperatives of the particular project. In some instances, the developers themselves readily agreed to pay some portion of the infra-structure costs in return for a needed public incentive. Such incentives ranged from joint venture parking structures to tax abatements, tax exempt financing, l,:lnd writedowns and land subordination. The tapestry woven in Sllct. arrangements is varied and oftentimes unique. The substance and scope of the public investment and the skill of the respective negotiators will determine the public "slice" of the project. Aside from a return on investment, a viable project gives valuable indirect rewards to the public sector in terms of increases in taxible val ues, jobs crea tion and other economic benefits that would not accrue without the project. In fact, these secondary economic gains may yield more immediate payoffs than the direct financial project stakes that secure a specified percent of cash flow through loan paybacks, participatory leases and equi ty share. These may take years to make their economic presence felt. Successful projects can also serve as catalysts that give much needed impetus to other downtown ventures. They give an impression of viability and activity in a downtown and this can attract other investors to the area who seek to capitalize on the success, perceived or real, of the project. The attached article from the Downtown Idea Exchange provides a good summary of the pros and cons of public/private ventures. 11 - 4 - ~ '.......... __-J_ ISSN 00/2.5822 DowntQ~n Idea ExcllIlnge~ Essentiallnfonnation For Downtown Revitalization Vol. 39, No.9 May 1, 1992 Downtown Public/Private Partnerships Must Be Scrutinized To Ensure Rewards Local officials need to take greater care in doing business with business. Many public/private projects intended to revitalize downtown often risk only public dollars and reward only private interests. Worse, if these projects fail, as they often do, downtown does not reap any benefits while developers lose nothing. A public/private partnership should be just that - a partnership, with potential risks and rewards shared by the developer and the downtown. To succeed in thc public/private partner- ship game, cities and towns must be able to analyze prospective projects from the developer's point of view as well as downtown's. However, local governments often "lack staff expcrtise in real estate economics and cannot validate the investment claims of their private paIt- ners," says David S. Sawicki, a professor of city planning at the Georgia Institute of Tech- nology in Atlanta. ~ What is essential, Sawicki says, is a system of public decision-making that can determine the appropriateness of public investment and then ensure that the public interest will be served. Otherwise, in their pursuit of activities and sites that will yield additional revenucs, local governments and downtowns may end up spending too much to service them. Partnership Guidelines When a city or town engages the business community as a co-investor for a downtown project, regardless of the sophistication or scale of the deal, Sawicki suggests officials consider the following general guidelines: · The project should be part of an overall plan for the physical and economic development of the city. The project should not be considered a separate one-time expenditure or be driven solely by market forces. A balance must be sought between market-driven incremental forces and forces of comprehensive planning. · The city must do it full-blown, discounted benefit-cost study to assess adequately the efficacy of the project. All costs and benefits, including off-budget terms, must entcr the calculus. 'nlOse attributes that cannot be quan- tificd easily can be valued by analyzing the cost-benefit results. For example, if the deal leaves the city $20 million short in discounted dollars, then the non-quantifiable benefits should be worth that much to public dec:ision makers. The timing of costs and benefits cannot be ignored. DOWNTOWN EXECUTIVE SUMMARY Fordowntown development projects, public/private partnerships must be carefulIy analyzed to make sure risks and rewards are shared fairly (p.l)... Analysis: Make the project fit the downtown (p.2)... Downtown Memphis revitalization and funding (p.3)... Committees are vital to getting work done in downtown Rutland, YT (pA )... New park in downtown Los Angeles (p.6)... Shopping cen ter renovation, new construction still falling (p.6)... There's room for artwork in downtown projects (p.7)... Parking Ideas: Card offers parking convenience for downtowners on the go (p.7)... A ban on cars in downtown; parking garage maintenance manual Cp.8).... Park, shop and dine validation program in downtown Hartford, cr (p.R)... International Downtown Association seeks members (p.8). ~ 1992 A/exaruJer Research & CommunjcatiOlL~.lflc. All rights reserved, --:- f I · There must be a full public airing of the project's intended costs and benefits. City planners should analyze these items carefully and determine their accuracy. As with any project, there should be a full discussion of opportunity costs, a frank appraisal of the risks and uncertainties, and an explanation of how those factors are valued by public decision- makers. To accomplish this, a structure must exist or be put In place to provide checks and balances in the system. And a balance must be achieved between full disclosure and the [prac- tical] need to cut the deal behind closed doors. · The city's planners must have full access to the private developer's pro forroas and be prepared to make an independent judgement of their validity. [If federal money is involved] develop- ers are often required to send their pro fonnas to the Department of Housing and Urban Develop- ment in Washington, D.C., but not to local or regional offices or to city governments. · City officials must make rules about the rights and responsibilities of the quasi-public agency or agencies involved [e.g., a down- town development authority]. For example, the agency should never be in a position to keep detailed information abou t the deal out of the hands of city officials or the general public. · City governments need to be structured so that entrepreneurial activities (development) and evaluative and analytical activities (policy and planning) are separate but equal functions. One organizational entity cannot do both. · The city must hire talented city planning staff that can see the largerpictureofthecity's comprehensive plan and the project's conform- ance to the plan, as well as perceive detailed financial analysis that is invariably part of a complex project. Consultants can be used if, because of inadequate salary structures or other reasons, staff with these talents cannot be hired [full-time]. But consultants really do not measure up to an excellent staffthat can follow the project and its ever-changing physical and financial structure on a day-to-day basis. + 2 Downtown Idea Exchange ., v II. *11 M E M 0 RAN 0 U M TO: FROM: RE: DATE: The Honorable Mayor and Members of the City Commission in its capacity as the Community Redevelopment Agency M. A. Galbraith, Jr., City Attorney~ Community Redevelopment Agency Annual Report May 5, 1993 During the April 19 meeting of the Community Redevelopment Agency, you examined a staff memorandum relating to annual reports and financial audits of the CRA, and you asked for a copy of the applicable statute. You also asked for a copy of the 1993 amendments to the statute. The applicable statute is Section 163.356, F.S., a copy of which is enclosed. This section provides for the creation of a eRA and the appointment of a board of five to seven members, and includes a statement of the powers and duties of the CRA. The duties include the filing of an annual report of the agency's activities with the City and with the Auditor General of Florida, including a complete financial statement, and publishing notice that such report has been f i 1 ed . Section 163.357, F.S., provides that the city commission may declare itself to be an agency as an alternative to appointing a board of five to seven members, Ilin which case all the rights, powers, duties, privileges, and immunities vested by this part in an agency will be vested in the governing body of the county or municipality, subject to all responsibilities and liabilities imposed or incurred. II A copy of that section is also enclosed. I do not construe Section 163.357 as exempting the CRA from the requirements of Section 163.356, except for those requirements peculiar to the appointment of a separate board, such as the number of members, terms of office, and qualifications to hold office. In particular, the city commission's sitting as the head of the CRA does not exempt the eRA from the annual report and notice requirements of Section 163.356. The 1993 Legislature enacted House Bill 1969 (copy enclosed), amending several statutory provisions relating to community redevelopment agencies. These amendments did not affect Sections 163.356 or 163.357. The amendments are of interest because, among other things, they allow unexpended trust fund revenues to be carried over and be appropriated to specific projects, if the projects will be completed within three years. MAG:a Enclosures Copies: Michael Wright, City Manager Jeff Harper, Director of Administrative Services Dan Deignan, Finance Director \ ,I, ~ ~ . \ ~ \ I,' \ i ;' / . " , '.,' \ . I' '. J ' / I I'~ i I I' 1:' /, ' ! I,' , ' . I,,' t ~ I . \ ' . t ~ F.S. 1991 INI.~!:!QQy'g~N ME~T ~!:-':'J!Q9RA ML_ Ch. 163 163.356 Creation of community redevelopment 8gency.- (1) Upon a finding of necessity as set forth in s. 163.355, and upon a further finding that there is a need for a community redevelopment agency to function in the county or municipality to carry out the community redevelopment purposes of Ihls pnrt, any cOllnty or rnuniclJJality may creato a public body corporato and pol. itic to be known as a .community redevelopment agen- cy: Each such agency shall be constituled as a public instrumentality, and the exercise by a community rede- velopment agency of the powers conferred by Ihis pari shall be deemed and held to be the performance 01 an essential public function. The community redevelop. ment agency of a counly has tho power 10 function within the corporale limits of a municipality only as, if, and when Ihe governing body of Ihe municipalily has by resolution concurred in Ihe communily redevelopmenl plan proposed by the governing body of tile county. (2) When the governing body adopts a rosolulion declaring the need for a community redevelopment agency, that body shall, by ordinance, appoint a board of commissioners of the community redevelopment agency, which shall consist of not fewer than five or more than seven commissioners. The terms of office of the commissioners shall be for 4 years, except that IIHeo of the members first appointed shall be designated to serve terms of 1, 2, and 3 years, respectively, Irom IIle date of their appointments, and ali other mambers shall be designated to serve for terms of 4 years frorn tile dnte of their appointments. A vacancy occurring during a term shall be filled for the unexpired term. (3){a) A commissioner shall receive no cornpensa. tion for his services, but is entitled to the necessary expenses, including travel expenses, Incurred in the dis. charge of his dulies. Each commissioner shall hold olliee until his successor has been appointed and has quali. fied. A certificate of the appointment or reappointment of any commissioner shall be filed with the clerk of tile county or municipality, and such certificate is conclusive evidence of the due and proper appointment 01 such commissioner. (b) The powers of a communi ty redevelopment agency shall be exercised by tile commissioners thereof. A majority of the commissioners constitutos a quorum for the purpose of conducting business and exercising the powers of Ihe agency and for all other purposes. Action may be taken by the agency upon a vote of a majority of the commissioners present. unless in any case the bylaws require a larger number. Any per- son may be appointed as commissioner if he resides or is engaged in business, which rneans owning a busi. ness. practicing a profession, or performing a servico for Gornpensalion, or serving as an officer or director of a corporation or other business entity so engaged, within Ihe aren 01 operation of the agency, which shall be coter- Illinol/s will1the area of operation of the county or munic- ipality, alld is otherwise eligible for slIch appointment ullder tllis parI. (c) Tllo governing body oltha county or municipality sl1all designate a chairman and vice chairman from nrnollg (ho cornmissioners. An agency may employ an executive director, technical experts, and such other agents and employees, permanent and temporary, as it requires, and delermine their qualifications, duties, and compensation. For sllch legal service as it requires, an agency may employ or retain its own counsel and legal staff. An agency authorized to transact business and exercise powers IInclor Illis pmt shall file with the gov. umlnu body und with Iho Auditor General, on or before Murch 31 of each year. a report of its activities for the preceding fiscal year, which report shall include a com. plete linancial statement selling forth Its assets, Iiabili. ties, income, and operating expenses as of the end of such fiscal year. At the time of filing the report, the agency shall publish in a newspaper of general circula. tion in the community a nolice to the effect that such rcpor.! has been filed with the county or municipality and 1I1altl10 reporl is available for inspection during business hours in the office 01 the clerk of the city or county com. mission and in the office of the agency. (cI) At any lime aller (he creation of a community redevelopment agency, tile governing body of the county or municipality may appropriate to the agency such amounts as the governing body deems necessary for the administrative expenses and overhead of the agency. (4) Tile governing body may rernovo a commissioner for inofficiency, neglect of duty, or misconduct in ollice only afler a hearing and only if he has been given a copy of tile chargos 01le8511 0 days prior to such hearing and has had an opporlunity to be heard in person or by coun. sel. Hlslory. - 5 2. eh 77 391, 5 l. eh 83-23 I, S 6. rh &~. Jr,(j 163.357 Governing body as the community rede- velopment agency.- (1 )(a) As an alternative to the appointment of not fewer than live or more than seven members of the agency, the governing body may. at the lime of the adoplion of a resolulion under s. 163.355, or at any time thereafter by adoption of a resolution, declare itself to be an agency, in which case all the rights, powers, duties. privileges. and immunities vested by this part in an agency will be vested in the governing body of Il1e county or municipality, subject to all responsibilities and liabilities imposed or incurred. (b) The members of the governing body shall be the members of Ihe agency, but such members constitute the head of a legal entity. separate. distinct, and independenl from the governing body of the county or municipality. lithe governing body declares itseH to be an agency which already exists. Ihe new agency Is sub- Ject 10 all of the responsibilities and liabilities imposed or Incurred by tllo existing agency. (c) A governing body which consists 01 livo mem- bers may appoint two additional persons 10 ncl os memo bers of the community redevelopmont a~Joncy. rho terms of office of Ihe additional rnernbors shall be lor 4 years, except that the first person appoinled !>hall ini- tially serve a term of 2 years. PmSQllS nppointed llndm this section are subject to all provisions of Ihis pari relnl. ing to appointed membors 01 a community redcvolop- ment agency. (2) Nothing in this part prevents the governino body from conferring Iho nghts, powers, priviloges, dulies, and immunities or a communily redeveloprne/ll agency upon any entity In existence on July 1, t 977. which has been authorized by law to function as a downtown development board or authority or as any olhor body the purpose of which is to prevent and elirninflle slums and blight through community redevelopment plans. Any entity In existence on July 1, 1977. which has been vested with the rights, powers, privileges, duties, and immunities of a community redevelopment agency is subject to all provisions and responsibilities imposed by this part, notwithstanding any provisions to the contrary in any law or amendment thereto which established the entity.Nothing in this act shall be construed 10 impair or diminish any powers of any redevelopmont agency or olher enlily as referred to herein in existence on the effective date of this acl or to repeal, modify, or amend any law establishing such entity, except as specifically set forth herein. Hlatory.-8. 2, eh. 77-391; s 75, eh. 79-400. s. 2. eh RJ.(l31, S 5, eh R~-351i "\ c::l W ...I ...I o p: :z: w Q lIJ 001 001 o t>: :r: ~ ;tj " o " ., o Sot 0) C W ~ " or- ~ ;. ~ Ii ' IS 0.' > o 0 ro4 &. <<) g, :> g, <<) II 'U . <<) &. Sot 0 lH :>. .., III .... "C1 C r: ::s I) 11 ~ o 0 U 0 I) :>. &. C III >- U WI r: o 0 ""'i In .., II .... 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II It ... .,., D . :II . o >. o II ... oS: IQo .... o ... G U C ., .,., k o U () ., c ...., ~ k ., g, " .... oS: +J ow Q " CI :> ... .... () CI ...., ..0 Q +J c: II e g. Q ... o :> CI ~ CI ... :>. 04.1 .... C :s E! e o U .... .... \.4 o 15 '" o 4H LI o .c <tJ o k o .. o <tJ o s: ... " c o .a >- c < rot .... "" .' . c .. .... g. 4J C II II! g, o .... III > o " c: o Q k .... ~ >- -..1 .... VI .... Q C Co :I VI e .... e Q o U " .c. <tJ .c. <tJ .... S N Itl '" .... .... .... ,.. III U Dl .... .... c .... o E .c >. .... llS 0 Do C'l Q k CI .c 0601 '-4 o " C II II .c 0601 II) .c +'l o .... I'l o :s c o :> o ". .... c o E o r.. u c:: .... eft c:: ... CJt .,., Cl ro1 g, It III " c .,., .. ~ .Q CI ." C .... C\I In ... ... c: . ... tI II tl :I &.I o .... o :I ... IS > o .c .... c: ... 'U Q k .... :s t1' () llS I. .... >. III .... .... &.I o tI Do .... Q .... k Co .<tJ ., >. C III lIS <<> " III ~ Q .:r .... = <<> e '" o ,.. CI > o " 41 ... >- ~ .... C :3 E e o u ... o . c: ., ,.. g. .... c: o E Do o rot o > Q '0 I) ... >. .... .... c: :s E E o () Q .c ~ ..: ~ .... x 110 U C lIS ." ... o u U lIS III ~ ~ k C <<> G =>. oS: sa ... .... g, II 0 0 41 r-4 C k G ~ 0 :> ... G o " ~ > tft II c: ... .... .... o '0 >. ,.. ~ 11 .... .... II :J C &.I .a :s tJl e o .... e ... 0 0 0. c: U .. Q 110 .... oS: &.I .... ..., o llS 4H .... oS: .... 41 " .... -..1 C .... :a III .ll .... llS CI Co .c u o c:: k III ." " &.I C 0 tn llS U C U .... ... III :>. ... LI lIS c:: LI Do.... III Q t) k ::0. s.. o n ... :s Do E o () " .... c e E II :> o LI Co E .... c: llS ... g. 0'" ... 0601 ::J o . III '" ,.... 10 ... ~ ... '1 'tl C o .Q I'l ." II II U o '" C III oS: .... .. Cl +I III ,.. o C G LI :s .... ., . ... ... ., oS: " \t o Cl LI C) .r.: <tJ o k lIS ., <<> :J C o > " <<> = ... :J .... .... = ~ o tI e :s o ... ... .... u c .... .... C II .c & U Co .... 0 .c ,.. ;J: II :> c: II ... " 41 ... LI llS o 0 >. oS: .... .... lIS 0 U .... '3 C .... ... ... " " 0 .c: <tJ ~ ... II &.I 0 o Co .<tJ II .... " .. .... r.. " .. k o ... :>. 4H ~ III ... ,.. ~ -D ... >. ~ .... c :s s & o () G s: ..... c .... :>, ..., r.. G g, o Sol g, r-i III G Sol .... Q C o .... .tJ .... I'l .... :s tI" () < ..., o C\I o N .<tJ C II S Co o .... o :> Cl " Cl LI :>. <tJ .... r: :l s & o U o .c .... LI Cl " C :s ... .c u ... .c :a: III I) LI lIS ~ C <<> a Q. o ... o > D ." C LI .... N C o .... .... U II t'l ~ o .... ... -- C o .... ~ u I) ., .ll :J n .... o .... u .... .c Do II r.. D) lIS k II Q. . ,.. c: o .... ~ () III en .... N ., CI '" ... o :s 41 0- u " ~ :s &.I .... tft III c: .... II rot .z: ,.. .... o ;J: '0 '" o ,... " Q .... llS .... ... ,.. .... .ll lIS .c Q k &.I o " o w .... llS Do o k o ..Q .. " o .... .... ... .... ... u ., W ." o ... 0601 C " ., .... ... 0 Co k Q ~ III .... N Ii) N C'I/ " Il o &.I o ..., " II "tl C o E III " ... ... " II .... :s +I ., .... Ul III " .... LI o ... Lr. o ,.... ff) ff) \0 .. .... o I"- Cl'l . Cl'l ID r ell N ~ o c o .... 04.1 III 0601 .... ... .... .Q ., .c <<> LI LI o k .... III Co <<> LI ;.. .... .... C :s F- e o I) " o .... .... .... ~ ., Do .... U .... c: :s E '0 c: .. n o .... .... c: :J Q U .... . et " k CI Q ... :ll U o c: Q. CI VI .. ~ c CI e ,... g. .... o .... ... . > G -u II &.I ~ N ." N . >- ~ LI o g., o ... Do o .c. <tJ .... o o ... IS ., o r.. '0 C IS .. It Q t'l o g. r.. :J g. o u C llS " .... :s 0) k o """ .:r N " . , t) s: ..., c: .... :>, ..., ... G g, o Sol g, .... CI Q ... r.. II oS: .... o :>. C III ~ o C Q -r1 ~ .... ., .... :1 tr U -< II <tJ . C ... ~ "'" II o ~ :>. '" lIS " " II U o c c: o .c. s IJ o " . .... c o E Do o CI ... ~ o 0 :>> ... I) 0 'tJ ~ II ....a ... r-4 0 ::s :>. .... .... .z: .... +l C r-4 :J ., e 0 e oS: o C u ::s . r-. Ul C\I .0 " co N C\I N o oS: .... .... .... III <<> :> III .c: ... .... III .c: n >- <tJ .... "'" III g, .... I) .... C :J .. 'tJ C IJ >- .... c: :I o U >- ... Q > I&J Q .c ~ II .... ., :s ~ () o .... """ II "0 C II tn C ... " =' ... o c >. ... r.. r.. lIS u o +l 41 C II -..1 C Q > C o u ... o C ., " III CI U II c: II &.I CI :a o 0. ~ :s Q In N ..0 ,... C\I N .... >. ..... .... II C t) "0 C G II It t) r-i .... II C o .... ..., .... .,., c o u CI .... ., It c:: :J Sol Q ... =>. k III 41 .... C III I'l :: ::s tn C ... :I o ... ... o 4H Cl oS: .... ... .... k II "- II ... .c. .... 4H o " c o ... III ... > o LI g, " c: . . o . o g, It :s g. u .... "'" .a :I g. II .c ., o ., "'" .3 C II & ... LI ... o ." tl o " :I LI o .c. <tJ o LI o II <tJ III c: or1 e .... ... <<> " G ~ C llS k t/) c: .... o k G oS: " ... G .c: ~ o Q ... C o .... 41 ... .,., ~ III C .... .. ... CI ;J: o 0. co N lH o '0 .llJ ID ... ~ u .... ... .Q ::J g. "tl I) " I) I) I: LI o \t "tl C ., ... II " .... > o LI g. o ., '" o c: o ... 4J lIS k o .... /.4 o <tJ CI 'tJ ... o I) s: ~ 41 C G > G k Co ... o G :> o & G ... o ~ CI ~ .... :x k Q ..c .... o r.. o . ., Cl -..1 +J <tJ .... .:: ... en .... or1 U ,.. III J:l .... .... II ... co .... r-4 II :t Q\ C\I o .... If) Itl 04.1 C II e Co o .... Cl :> III "tl Cl ~ :>. +I .... C =' E E o U .... ::l o :>. LI LI III U ." C II CI ~ ., ., k o ." C :I o ... ~ C Q e a. o ro1 II) ;> G "CJ 110 W >. ..., .... C ::s E E o U C) .c ..., .. G " =' ... u c ... C.:>. .... III .c e ..., .... <tJ :k C o ., & G Co .... 0 ..., ... .... 0 ;> > .... II ..., " U 0 Ci LI ." .r: I) U ..., .... CI .c. poi s C) ... ." c: ., ,.. u .., a- N o ,.. .,.. II' . . . ... .. lIS o LI ,. . ., r. o ... .... .... "0 "0 . . '" . ~~ .\ I ~ a :. ." 'tJ I- o J: ! , I L ~ I I I , , i o ~ ." III C o .... ... . .... C/ "0 II I- 1lI C II .It: U .... I- ... 1'1 lit 'C l- .0 ~ t!I % 1-4 Q o U III C o 101 .... .... "0 "0 ID tI l- ID I lit "0 L o :J: '" III C o .... .... . .... .. "0 . L . C . ~ u ... L .. .. .. "0 L o ~ " Z 1-4 Cl o (oJ (j ~- ~ ......... . /) .' ~< . o Q IIJ ... oJ o 0: :r: IIJ -a . :I o a. a a ... tit ... Q W ...:I ...:I o g,: :z:: w ') .. CJ\ ~ 0\ 'I'" CIIl :I: Cl ... ::I ~ II ... " .... ll) 41 ... (I) 0\ 0\ 'l"' " D 112 IIJ o 1-0 tn C c..1 ... VI .- ... 0'\ \0 0'\ .- 1IQ :c G ~ ::s ~ III r-4 fI .... r:a CI ~ If) CJ\ CJ\ r- " ,l "=! a. . ., o > . ~ U . II o ., -e . :a o P4 P4 o '" . .Q ~ .. ~ . .r: u .... .r: :a o Ll ~ 'U 41 U o Ll g, o .r: .., >- c: II ~ .... r-4 ~ lIS <<l .= tl ~ ... lIS ~ C c: Cl lIS E Cl s: ~ ..... .... =' " "" ~ o ..r: ~ 01 ..... >- ... c lIS ... ... o III ... ~ " 0 ... IS tn o ... ... ::s o s:::. ... .... :r; ... C o .. ... .... " .... ::s tI" U < co \: r-4 )olI G . . a. .. ~ " ..., . .. It rf g -= ~ VI sa.J . s: 0 ... .c ~ s: ~ ~ .c :a .:l ... Cl o 0 -.. . II CI 14 It .... o ::I "" tl' ... 41 ::s 14 "" 14 CI 41 .c.s: ~ ~ o ... 'U .r: CI U ... ::I .... " ::s 1:1' " G &:: ... " lH .... " o '" " r-4 &:: lIS 0 ::> g, o lC ~ 0 g, g, 0 III .D N I/) .. III rot ..... Ii ..... II .. ... tl " ..r: )olI ..., ., 0 :II: s:::. D') ~ .... III s: C1 k C lIS .... ." Cl ~ .r: 01 "" ... ..Q &4 o II :l ... " IS CI .Q IS 41 ... IS 41 A ~ N . o "0 ..... :> o L.o C. :>, III !; ~ >- /IS :r: ,t;l =' n ... o ~ G :II: ..-4 .,., lIS s.. ~ C " ... -.. o o u c o =' ... lI-f C '" .f'4 " tl CJ c: III ... ..., C Cl ... G C C ::I ..., It\ co 0. "\'l C II 'Il 41 ... ... .... I! Cl ~ '" o ~ 'U o ~ .... a .... ... "0 &:: Cl C7' o ... . CI e o u C ..... ClI ~ III ~ CI "0 o E ,., o :II: o .-t ~ o " ..-i tlI :s -a ..... :- .... "0 C ..... Q M rot rot :., ... III " " ., u ., c " Ii ... o ... ..., II ... Do " r:: II " r: o ... ~ lIS "tI r: :l o '" '" o c o ... ~ U :l Ll .., ~ c: o U . 0\ /. ... ... ., n N ... " D ... l!:I .-4 D ... " C II ~ trl C .... ., :s o .s: .... o ., CD ~ .... II " ~ .c Cl -1 ... ... .... II .... o c o .r1 " .... :> o ... g, Cl .c ~ ... o .... C\I M M rot ~ ... &lI ... III ." .... ... o ... t&. '" III o ffl o ('II .... ('II c o "" ~ U II II 'w o ... ('II .... c o ... ~ U II " .a :I 1Il . co c o .... ~ o ~ 1Il ... o .. :I .., .. o (I) 0\ I r.. \0 If o ~ Do II .r: u tw o .. c o .... ~ u o III . 0\ C o .... ~ o o fIJ '" ... " . ... " c ~ ..c CI . ... .c ~ c lIS ... .c .. ~ c :II; " o " ., CI r1 ." C ~ tlI 0 C " CI tw .f'4 0 .... .... c .... Q 0 0 .f'4 0 0 .... 0 0 lIS .", 0 r1 0 .. ::1 If) 0 Co If) ..,. o '"' ffl Co .... I'l ll) C .f'4 > fIJ .r: Cl ~ fIJ ~ " ." .. . ... o .... "0 Cl " C D e IS II .... c o .... .... Q o '" CI1 11II ." ... ... o rot U. o .c .... "" Q .. . .... .... c: =' Q g C .... ... ... < or- ." . .. ." c: ~ ..c . .. ... .c .... . .c c: ~ ~ Q Pi .... Q Pi ., ~ .. .. Q Pi ...... ~ oS ~ o " g Ao ... . o Co .. 0 .. U ta .. ... c: . .... ,,~ :> .... Ll .. 0 .. .c 0 .c o u . .. o 0 . .... 0 .. ~ 0'\ 0 C .... .c ::I :a o u c .... " c .. II :s o .c ~ " CI .. " c :s .c .. c .... c c: .. .c ~ '" .. :l It C Cl U ... II .... C C o l> II "tI ... II .f'4 U .... 4H 4H o ~ " o ~ II ... .'" ~ c CD 41 C -..i .'" " Cl l( IS ..~ ~ C II e Do o ... ., > Cl " C o .... ~ c o > &:: o U It) o If) o . . " 'tJ II D U o ,.. g, .... o Cl ., ::t . .. f-4 z: c..1 f-4 z: ... c o .... ~ II H .... .. o .s: ~ :s lIS ~ > ... f-4 < ...J VJ ..... .'" 0 c c..1 o ...J ..... ~ II ... ~ II .... C .... E 'tJ II co a- M..-4 l( IS .... ~ c . e Co o ... o :> D " C o .... .... C D :> c o g o z: , , ..... N ...., c .. .c .... . .. o Ii .... o C ." C .. ." C II ,~ ..- ...,............. -....- ._-..'-...~.., -'.' ..--~ ~. ...-. ... o t/) C .f'4 . ~ .c m .f'4 .-4 ,Q G o > lIS s:::. .c g II .... OJ s:::. "tI :II: "" r.. " .Q D .... .. ~ It .... .:.c.... u .... III g If II ~ .... ~ ltI >. r-f r-4 " Q, .... u C .... ... "" C) c .... ~ It .... l'2 C o u ,." l4 o ..0 r.. ." ., ..., .... a "" ... " l: III o E o g c .... D .... . ... .. " o f!i .. o :r; o .-4 .... o V! .... ~ :s " .... > .... " c .... " C II " Cl .... .... .... II II .... ." C III tI ::I o .c ~ " C III " :l o .c 41 . L4 o E tw o ,... co 0- 0 ... N I/) ... ... P"t C\I N C\I N -0 Cl o ~ o ~ 'U ID -0 C ID Iii; lIS fI .... ('II ... or- " N CI .... ::s .... lIS ~ ~ ..0 r-. r-4 P"t :>. ~ J.o .... .c ~ >- 41 U o 4H ll) c .,.., " c =' o ~ L4 ::J 0) II .c ~ c o ~ o .... '" 0 II .c Q, +t o rot Ll CI 0 > 4H G '" 'tf -a c s:; CI II III .Q II ~ o 0 . +l U ..... C .... .. 0 .... &. =' r-4 ~ 1"'4 ..... 4H g II C III Cl .... la1 +l ..... In-a II ~ .:l II ~ III ~ .c .... .c In . I.'ll .f'4 ... ..... ... &. ,Q -a c ... .c II ..... U "- .. ~ .c: u .... .c: :J a.. Cl :> o ...... It II) 112 ::s '" &. o ... >. ... ... II U ... ~ ... U 41 Do ~ " o r:: OJ .... " o "0 "" " o l'l :l "0 &:: II " o .... +t .... ... .... U II ~ I/) ... .. o ~ ~ Itl .... ... tw o :>. ." o .a DI r: .... c J.o II > o DI o .c ol.l :0- .a " o It o Do E .... o .Q r1 1"'4 II .&: II " ... II ~ &:: Cl ... 41 C o .... " C II U ~ C o ." C IJ ." Cl J.o II 41 II .... C .... Ii: "tI .. . .a r1 ... fIJ .r: II c o .... ~ (I Cl It " .... .c ~ o ~ 41 C .. :I .. &. :l 0. " o H .... ... o .c >0 ~ C :l .. .. l( fIJ 41 >- C < c .... o ... o .c " .. N .f'4 ... o .c ... :s IS >0 ... .-4 .. o .... \4 .... o .. Do III n II .. .-4 C :s >0 ~ C :s o D -e c III fIJ ., ... ., -.0 Ll o ~ >- '" r-4 C ... ..... III " U :;, .... c 0 ~ o .c: .... -.iI U ~ ~ 0 " 0 g, c ., .... C I! -0 " .f'4 ~ 0 ... Cl &:: o ..... In :> .... o 0 ., s:::. .. 0 ~ g, 'U r-., co o N .-4 N N N .... o \, _.__..~-... ~._.-. ....!"'...._.._"'-~ . ~ -_. . .....-....- ,.-~ ..-~ ...... ._.# . _.. .._ "'., ........_ - >~ . - ....... ..... .1...., .. '_........-._ ...... lI-f 4" o ~ IQ .... Dt C o u >- " ti 'tS C .. -0 ell C ~ .... .. It ... ,.. Cl .. E .c :s c 'tS Cl . " " .... III > o " ... II '" ..... :> " lD .. rot >0" II .... C ~ .. Cl .... :> c ~ .... 0 III '" g, 1"'4 :s S II .-40.... U U In >C II 001"'4 k 'U 0 II o il! .c ... ~ u .. Cl Q It .-4 .... .... 0 o c ~ U 0 .... ,.., ..,. lI'l N N N '- >- ... .. =' C II ~ o ~ .. o .... ... Do " . " C I . o . lit .... ... II) ~ ... III .c u Cl " o .c ~ &. o :II; o C ot fO 't:I .... :> o &. .. g, ... ~ III ..0 N N N C o ..... +l U II " .Q ::J " C .... . " u .c c +I-II a. c o .... ~ " .. ... 0 . .. c .... . &. . .c = )C II ~ ~ o .. )( . o .II ~ tw o :0- > II ... CI .t: ~ ... o ~ .. co \0 0\ ... &. o ~ r: o .... oj) If H .,.., ... o .c ~ ::s IS >- = " .... " .c ~ .... c: I> ~ C .... >- ,Q >0 ~ .... .. o s: ~ ::s . "tS C . .. o :r; o Do ... ... .s: en .... .. CD .s: ~ C Cl :> .... c:n >0 ,Q o ,.. D .s: Cl ... III "0 Cl .c Cll ..... .-t ,Q ::J g, Cl .Q P"'i .... ., .c Cll )( . +l ~ C Cl E g, o P"'i Cl :> .. "'C:I C o .... ~ c: Cl > C o u .. '-t o C o ... ~ ... 01 o g, Ii ... -4 (\I . ., .. a. Q g, a. Q u &. .... o .c ., IS .... .c ., .... :a )C .. ~ . ~ u Cl .... .... o Q ." C C :r: . 0 = >. ~ > o Cl ...c ,t;l o ~ .. o " o g, E "" o ~ ,... CIO 0. N C\I N .. ~ ,.. C II Ii ~ U III C . .c u II W ..,. .... c o .... ~ u Cl 01 .a ::s lit tw . o >. :> .c C) g. rot tIS ~ . In .c tIS ~ '" " .... g. 0 IS lit . lit I> .... :s ~ tIS ... II) IS " .... .. o ... t&- o s: ~ c .... ,... N -.. ~ c: . '" II .c ~ c o Po :s .. ... . +l o K" .c . >. ~ c ., ~ .. o " o ,.. r1 . g. .f'4 U .f'4 C =' Ii .. " fIJ '" I'l ~ .... l'!a .... rl c o .... ~ 11II ... :s "'C:I C) .c +l .... o Cl :> .... +l U D g, 01 . ... Lt .... co (\I " rot . ~ o . ~ = o o &. .. o e o o .. ., '-t o :>. u c III Co ::I U U o >. J.o Cl :> tl tw o o ..., " II H .... 14 o .c .... =' tIS " ~ r:: o P- C '" o :> o en ... fIJ U o r1 .... o " o Po >- .... CI .c .j.J >- .... ..... U D Po n .... r1 .. .c ~ a- N " II . ~ =' +l ... . Do ~ = C4 U II "'C:I .. ... CI a. r1 0 .... Pi .. r... ,.. ... .. Q ... . .... ... :s o ~ . . .. N 't- N a. . +l Do IS .c Q " Cl Cll :s o .c trl C .... E o o .. N .. .- ..... ., .. IS Do C .... 'tJ Cl C ..... .. .... I) Cl " 'tJ :s o Cl .c ... l'.l ~ C Cl II e e III ~ " L.o III ill '" .c lIS 4J o .... It) It) :>. III E .c u .... .c ::t It D ~ 10 ... .. o CI .... lIS .. C) .s: ~ .. 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CITY OF CLEARWATER INTERDEPARTMENT CORRESPONDENCE COPIES: Betty Deptula, Assistant city Manager Dan Deignan, Finance Directo~ Michael Wright, city Manager Jeff Harper, Director of Administrative Services Jerry Sternstein, Economic Development Director Bill Cantlin, Administrative support Manager TO: FROM: SUBJECT: CRA Financial Statements DATE: May 4, 1993 At your request, Sill and I have prepared the enclosed eRA financial statements, which detail all activity, by year, from the inception of the CRA in 1983 through September 30, 1992. This task is complicated somewhat by governmental GAAP (Generally Accepted Accounting Principles) which requires accounting for operations, debt service, fixed assets, and outstanding debt each in a separate fund. In our case, a fifth fund is involved because the 1986 CRA bonds are secured by parking lease revenues on a parity with the 1983 parking Bonds, and the combined debt service reserve is being held in the parking fund. The first page summarizes the balance sheets of the five funds involved. The right most column, labeled "total" is probably most relevant in assessing the overall current financial position of the CRA. Also included are operating statements, by year, for both the operating (general) fund and the debt service fund. Finally, we have included a schedule of ClP expenditures, by year, and a reconciliation of outstanding debt. I have also enclosed a preliminary interim operating statement for the first six months of the current fiscal year for the operating (general) fund. I have chosen to use the same format as the approved budget, so that variances can be shown. You will notice that no interest earnings are reflected since this entry is currently calculated and recorded only once a year, at year end. Please let me know if the format for the enclosed statements is acceptable. Also, Bill and I are available to discuss this in greater detail at your convenience and request. .'~~ ~ ,.'~. . .,," .,""', "\". ': ;....,.., ""/.,, .:~. : .;i,. ';::\../,;: I',:'.: '1':.":-:'>.: ,",:. ...., '.:..... ,.:',':' ~. \,'..:.,...., . ." ,c/,Y, /."l".>.' .. . \ . ,I I \... ;..: , /. u . ~ . 1 ,/ ... \.. ,.\ ". / 1', ... ,. .'. ,': " ' .. . , ,\ / I '.' ',: ,-1- ';-' \ ) ">.,'..' ~.. '\. " .,,; ... ,~'.'/:'~,,: <:.",:.,.:.',~,~::"~'.,':":,,.,,:,~: ~;~.'~".; ,;..-',',';'. '.:',:'.:."'.~'.~~'~'i:../.'" '/',~.....~':.:'~~~'~:\"'.,:< ~,..:.\., '~~I~,:~:~,:>:. ,..,',.,~.:,;,I,::..,'.: '~."::'~:.::, .,...rr CLEARWATER COMMUNITY REDEVELOPMENT AGENCY Balance Sheet September 30, 1992 ASSETS: Equity in Pooled Cash and Investments Accrued Revenues Inventory of Real Property Held for Sale: Forner CETA Property (1180 Cleveland St.) Former SilBore Property (Lots 1-10, Blk. 5, t.fagnolia Park) Fixed Assets: Public Parking Garage (Pierce St. Adjacent to Police Station) Land (Lots 1,2,3,12,13, & 14, Blk. 6, Magnolia Park), Site o~ Above Parking Garage Kravis Property LIABILITIES AND FUND BALANCE: Liab; lities: Accounts and Contracts Payable Accrued Interest Payable (Revenue Bonds) Long-Term Debt: eRA Tax Increment and Lease Revenue Bonds, 5eri e~ 1986 eRA Tax Increment Revonue Bonds, Series 1987 Fund Balance: Reserved for: Encumbrances Debt Service Net Invested in Fixed Assets Unreserved File: CRA_BTMT 5/3/93 General Fund Debt Service Fund Park; i19 Debt Service Fund ------- General ------- Fixed Long-Term Assets Debt Fund Fund TOTAL ------------ ----------- ----------- ----------- ----------- ----------- 14 ,652 ',181,120 140,116 1,335,888 4,210 4,210 450,000 450,000 691,852 691,852 1,241,057 1,241,057 249,877 357,058 249,877 357,058 ---------- ---------- ---------- ---------- ---------- ---------- 1B,862 1,181,120 140,116 2,989,844 0 4,329,942 ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- 10,902 10,902 o 1,630,000 700,000 1,630,000 700,000 ---------- ---------- ---------- ---------- ---------- ---------- 10,902 0 0 0 2,330,000 2,340,902 ---------- . ---------- ---------- ---------- ---------- ---------- 0 1,181,120 140,116 1,321,236 2,989,844 (2,330,000) 659,844 7,960 7..960 ---------- ---------- ---------- ---------- ----------- ---------- 7,960 1,181,120 140,116 2,989,844 (2,330,000) 1,989,040 ---------- ---------- ---------- ---------- ----------- ---------- 18,862 1 ,181 ,120 140,116 2,989,844 0 4,329,942 ---------- ---------- ---------- ---------- ----------- ---------- ---------- ---------- ---------- ---------- ----------- ---------- ~~ en, a ct"- oe ~ uo . t"- ... 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'_./':1"' '.;2 ,~':>",~ ,:~".~, ~ . 5 CLEARWATER COMMUNITY REDEVELOPMENT AGENCY ReconciliAtion of OUtstand1n9 Debt Se~tember 30, 1992 File: CRA_STMT Proceeds of Indebtedness: 1986 CRA Bonds - Parking Garage 1986 Bilgore Loan 1987 CRA Bonds -. Bilgore Property Underwriter's Gross Discount Net ----------- ----------- ----------- 1,660,000 (49,357) 1,610,643 590,000 590,000 1,185,000 (23,341) 1,161.659 ----------- ----------- ----------- 3,435,000 (12,69B) 3,362,302 ----------- ----------- ----------- ----------- Less: Principal Paid From Fund 214 From Fund 218 (515,000) (590,000) Remaining Debt 2,330,000 ----------- ----------- 1986 CRA Bonds - Parking Garage 1981 CRA Bonds - Bilgore Property 1,630,000 700,000 7.2 - 8.5x Callable 10/01/94 @ 102 7.5 - B.3X Callable 9/01/94 @ 102 2,330,000 ----------- ----------- . ' / .~"~~-~.':~:" :.~~-~ ~;~".:;,~.-." - ":, "; ~,"':'~,:. ~~ i:'::"'~" " ~' .<''''' .\ '.'~'....".r,' .\ '..;<:l'-'''', ~ " \., City of Clearwater CLEARWATER COMMUNITY REDEVELOPMENT AGENCY - General Fund Interi. Statement Of Operations Six ~onth8 Ended March 31,1993 File: CRILM93 05/04/93 Original FV1993 Budget Actual Thru 3/31/93 Variance Favorable or (Unfavorable) Revenue. and other Financing Source.: Tax Incr~ent Revenues: P1nellas County City of Cl.arwater Downtown Development Board 304,400 217,829 (26,571) 268,000 260,750 (7,250) ---------- ---------- ---------- 572,400 538,579 (33,821) ----------' ---------- ---------- 9,750 9,678 (72) other Revenues: Interest Earnings on Investments Interest Earnings on Debt Reserve Rental Income - Coachman Lease Rental Income - STEP Lease Other Income 5,000 (S,OOO) 10,000 (10,000) 15,750 2,538 (13,212) 25,260 14,790 (10,470) 15 15 ---------- ---------- ---------- 638,160 565,600 (72,560) ---------- ---------- ---------- Total Revenues Expenditures: Economic Environment Miscellaneous Saturday Downtown Parking - Street Advertising - Bilgore/Bluff Parcels 3,000 15,000 1,830 7,500 10,280 1,170 1,500 (10,2BO) Capital OUtlay Parking Lot Expansion - Kravis Parcel 70,000 8,499 61,501 Tran6~9rs (IN)/Out: For Funding Capital Projects 310,150 (239) 310,389 For Debt Service Requirements Fund 214 - 20X of Tax Increments Reimburse General Fund - Adm expense / , ~arking Fund - Garden Ave Garage 114,480 107,716 6,764 104,530 52,265 52,265 21,000. 10,500 10,500 ---------- ---------- ---------- 638,160 198,351 439,809 ---------- ---------- ---------... Total Expenditures and Transfers Out Excess of Revenues I Other Financing Sources over Expanditures and Transfers Out o 367,249 367,249 ---------- ---------- ---------- ---------- ---------- ----------