01-18-2000
Agenda/eRA
1-18 -00
AGENDA
Community Redevelopment Agency Meeting
January 18, 2000
1 . Call to Order
2. Approval of Minutes: 12/6/99
3. Approve fiscal Year 1999-2000 first Quarter amended eRA budget; authorize
appropriation of entire balance remaining in CRA Trust Fund as of 9/30/2000 to the
Misc. Redevelopment Project Fund
4. Approve change in dates to Interlocal Agreement between CRA & ODB to redirect
outstanding financial obligation per 1983 Participation Agreement towards economic
development activities
5. Executive Director (Assistant City Manager) Verbal Reports
6. Other Business
7. Adjourn
Community Redevelopment
Agency
Agenda Ower ~morandl1m
Agenda Item #
Meeting Date:
ere\. '3
\ . \ ~. O()
5U aET/RECO M M e-J DA 11 0 N :
Approve Fiscal Year 99/00 first quarter amended eRA budget and authorize the appropriation of the entire
balance remaining in the CRA Trust Fund as of September 30, 2000, to the Miscellaneous Redevelopment
Project Fund.
D and that the appropriate officials be authorized to execute same.
SUMMARY:
. Total revenues increased by $41,260 dollars due to:
The increased millage rate from 5.118 to 5.5032
Increased taxable value valuation from estimated $115,727,740 to $117,472,940
. Adjustments in the Operating Expenses are:
The internal services for document reproduction and print shop line items increased $1,500 to
take advantage of the talents and services in the City Graphics Department for preparing award
applications and specialty services, such as color copies and photo scanning.
. Addition of the Capital Expenditures line item for Furniture & Office Equipment in amount of
$1,700 for a new printer.
. Adjustments in the Transfers out are:
The Economic Development Incentive fund was increase by $36,071 due to the increase in tax
increment revenues. This money will allow us to assist business to locate in the eRA District.
. The IMR Landscaping fund is the tax increment money from the IMR project for this fiscal year.
The taxable increment of $59,780 equates to $313 TIF dollars.
RlMewed by:
Legal NA
Budget ~
P\.Irchasing ~
RiskMgmt NA
Info Tech
P\.Ibllc Works
DCM/ACM
Other
NA
NA
Orl~natlng 0
CRA
U., Dept.
CRA
Attachments- the budget
Co<<.
N/A
Total
Funding Source:
Capilollmprov_t
Current Rscal Year
Op..-aing
~~~~
Olh..-
Appropriation Code: N/A
o None
Rlv. 2/91
eRA First Quarter Bud~et Amendment for FY 99/()()
Summary'
TIIC approvcd budget for FY 99/00 was bascd on the FY 98/99- 5.1 I 58-millagc mte. TIIC FY99/00 CRA
budget was approvcd prior to the Commission's dccision on thc millagc mtc for FY 99/00. TIle final
district taxable value of property is $117 A 72, 940 up from the cstimated valuc of $115,726,740. TIle
increase in value is $1,746,200. Since the COlllmission adoptcd a millage rate of 5.5032 and the final
property valuation for the CRA district increased. there is iI $.H.260 increase in rcvcnue for this fiscal ycar.
TIle operating expenses for the changcs in the budget for this fiscal year by line item were vel)' small. The
Professional services Iinc itcm incre.1scd by $17 to round off the amount. TIle intemal scrviccs for
document reproduction was increased by $1,000 and thc print shop line item was incre.1sed by $500 to take
advantage ofthc City's Graphic Departmcnt's talents and services which arc at a lowcr rate than an outside
contractor.
A capital purchase line item was added to the budget in the amount of $1,700. The CRA is using a printer
that is not capable to print more than one envelope at a time and usually jams. The current printer docs not
have sufficient memol)' to print most graphics and is not able to which from lettcr to tegal without
physically removing and switching a tray.
TIle CRA Executive Director and staff rccommcnds most of the incre.1se in revenues be placed in the
Economic Development Incentive fund. TIlis $36,071 increase provides staff with the flexibility to offer
additional incentives that would not be available to a potential business in the CRA district if tllis fund were
not available.
TIIC IMR agreement idcntifies Illat thc tax incrcmcnt from thcir property be placcd in a landscaping fWld to
upgrade thc surrounding properties in the Missouri/Clcveland Strect corridor. TIIC base ye.1r valuc for the
property was $1,298,720 and thc final Vahl.1tion for 1999 is S I ,358,500. Thc 1999 property value is based
on vacant land use and not thc improved property valuc for this fiscal year. TIle difference betwcen the
two values is $59.780, to which the 5.5032 millage rate and the statutory limitation of 95% arc applicd. The
incremcnt dollars arc $313 which appears in thc IMR Landscaping fund code of the CRA budgct.
Convnunlty Redevelopment Agency
October 1 . September 30, 2000
Approved Propoaed
FIKIII Vear 11t Qtr.
"100 FY 11100
Budg.t Budget
City Milage Rate 5.1158 5.5032
ODeratlna Revenues
Tax Increment Revenun
338930 Plnela. COU'lty 150,992 182,491
381115 City of Clearwater 163,453 171,555
381116 Downtown Development Board 29,5t5 31,174
Other Revenues
361101 Interest Eamg. 10,000 10,000
362101 Rental Income - Station Square Park 21,750 21,750
369901 Other Mile Revenue 4,000 4,000
TralllfeB In
381782 Downtown Development Bd. Project 7,848 7,848
381782 Downtown Development Bd. Admin feel 39,755 39,755
381715 Mlscelaneoua Redev. Fund
Total Revenuell 427,313 468,573
Operating Expenditurea
530100 ProfesskM\aISennces 30,833 30.850
530300 Other Contractual Sennces 3,000 3,000
542500 Polllage 100 100
543100 Adver1islng 7,000 7,000
543200 Other Promotional Actlvltiea 14,000 14,000
543400 Printing & BIndIng 1,000 1.000
547200 Employee Expenae-Travel 7.500 7.500
547300 Employee Expense-Auto AIowance 200 200
547400 Employee Expenae-Mea. 100 100
550100 Office ~ 2,000 2,000
550400 Operating SuppIIel 5,000 5,000
557100 Me~ and Subaa1>tIonI 5,000 5,000
557300 Training and Reference 6,000 &,000
581000 Payments to Other Agencln-DDB 29,515 31,174
582000 Aid to Private Organlzationl 55,000 55,000
166,248 167,1124
Capital Expendilurea
564000 FumItIM'e & Office Equipment 1,700
1,700
Internal Service Charges
540200 Document Reproduction 1,000 2,000
540700 Postal Servlce 500 500
541300 Print Shop 1,000 1,500
2,500 4.000
TransfeR Out
590200 General FWld- Admlstratlve 180,652 180,652
590600 Parllilg FIN . Satia-day Downtown 15,000 15.000
590600 Parllilg FIN . HarboMew &,360 &,360
592400 Parkilg FIN . Garden Garage 33,705 33,705
590800 Eco. De~mnt incentive flIld 15,000 51,071
590800 IMR Lancllcaplng fund 313
592400 Mlacebneoua Redenlopment Pro). 7,848 7,848
258,565 294,9411
T olal ExpenditII'el 427,313 468,573
Exceu of Revenues Over Expenditures (0)
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Community Redevelopment
ftgency
ftgenda Cover Mmorandum
Agenda Item # C. ,a.... 4
Meeting Dcie: ,. 12 . () 0
SJaET/IEOMMENDA1l0N:
Approve the chcnge in dates to the InterlocaJ Agreement between the Community Redevelopment
Agency (CRA) a1d the Downtown Development Boa-d (DDB) to redirect the outstmding fina1ciaJ
obligation per the 1983 Paiicipation Agreement towa-ds economic development octivities.
00 and thci the appropricie officials be authorized to execute same.
SJ M MARY:
. The eRA Trustees agreed to redirect the financial obligation of the 1983 Participation
Agreement with the DDS to economic development activities because the eRA sold the
properties identified in the Agreement (Atrium office complex and Park Street Garage).
. The agreement was ~proved at the October 18,1999 eRA meeting. The existing agreement
requires payment on October 1 of each yea-. The revised agreement requires payment on
Februa-y 1 of ecd1 yea-. The reas:>n for the cha1ge of date isthe DDB'stax revenuesa-e not
received until December or .B1ua)'.
NA
NA
Originating ~
CRA I~
User Dept. .
CRA
Colt.
Reviewed by:
legal ~nfO Tech
. Budget Public Works
: Purchasing A OCMlACM
Total
funding Source:
c.p;lIIllmprov_t
Current RscaI YeaI and
FY 99/00
RiskMgmt NA
Other
Attachments
o plnlting
(,"1'\
\~ '""
OM
Appropriation Code:
Submitted by: I ~
CitY__M.a~B..er "'H'
o MIl.. on Nqded pIII*
o None
AllY. 2111
INTERLOCAL AGREEMENT
This Interloccll,greement is made and entered into this _day of _,
2000. by and betweeq '.he Community Redevelopment Agency (eRA) of the City
of Clearwater, Florioc., a redevelopment agency of the City of Clearwater, and
the Downtown Dev(~Il)pment Soard (DDS), a special district organized and
operating pursuant Ie the ordinances and laws of the City of Clearwater.
WHEREAS, the CRA and the DDS had previously executed a
Participation AgreelllE'nt, dated October 11, 1983, in which the DDS had
obligated itself to trarl:3fer certain monies to the CRA on a yearly basis
specifically designatl~d for the acquisition of land to construct an office-retail
building and parking garage known as the Atrium Project located at 601
Cleveland Street, Clearwater, Florida; and
WHEREAS, the CRA has executed the sale of the Atrium Project as of
December 14, 1993; and
WHEREAS, the CRA and the DDS have jointly agreed that the DDS
financial obligation fo' the said property will be redirected; and
WHEREAS, lhe CRA and the DDS have jointly agreed that the Atrium
Project fund balanc~ of $117,723.22 should now be redirected to economic
development activiticm.
NOW THERE =-. 'JRE, in consideration of the covenants made by each
party to the other an:, :.:f the mutual advantages to be realized by the parties
hereto, the CRA ane ~he DDS agree as follows:
Section 1. I erm. The term of this interlocal agreement will be for 15
years beginning Febr J'.:Iry 1, 2000 through January 1, 2015.
Section 2. Intent. It is the intent of the parties that the monies
specifically designated for the Atrium Project to be transferred to the CRA by the
DDS and redirected fer the purposes of economic development activities,
including but not limit:d to fa9ade improvement grants, economic development
incentives or special n:~development projects.
Section 3. fr.nount. The amount of monies to be transferred from the
DDS to the CRA for t\1 ~ purposes of economic development activities referred to
above is 7,848.22 anllJally, to be distributed beginning February 1, 2000, and
payable February 1 of each year thereafter until the total amount of $117,723.22
is paid in full.
Section 4. Notice. Notice by either party to the other pursuant to this
Interlocal Agreement ~'hall be given in writing and hand-delivered or mailed as
follows:
Chairperson, Board of Trustees
Community Redevelopment Agency
P.O. BOX 4748
Clearwater, FL 33758-4748
Chairperson, Downtown Development Board
P.O. BOX 1225
Clearwater, FL 33757
Section 5. entire Aareement. This document embodies the whole
Agreement of the parties. There are no promises, terms, conditions or
allegations other thcr. those contained herein. This Agreement shall be binding
on the parties, their ~;uccessors, assigns and legal representatives.
IN WITNESS WHEREOF, the parties hereto, or their lawful
representatives, have executed this agreement as of the date first above written.
COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF CLEARWATER, FLORIDA
BY:
Chairperson, Board of Trustees
Brian J. Aungst
Approved as to form: A nEST:
Pamela K. Akin, City ~~torney Cynthia E. Goudeau, Secretary
DOWNTOWN DEVELOPMENT BOARD
Chairperson, Glenn Warren
2