07/31/1989 (2)
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.~~ Proposed 1989-90 Operatinq Budqet.
Mr. Sternstein, Economic Development Director, reviewed the proposed
expenditures.
A question was raised regarding the $8,300 Community Redevelopment Agency
(CRA) payment, and it was indicated this was a projected figure based on an
estimate of what 1 mill of taxes would generate.
The Chairman questioned the need for $10,000 to be identified specifically
for the Downtown Clearwater Association (DCA). Mr. Finegan indicated he wanted
to provide for the proposed projects of the DCA and was responsible for the
$10,000 being so designated. DDB approval will be required for DCA requests.
In response to a question, it was indicated the $120,000 is allocated to
the Promot i ona 1 Program and fund i ng for Jazz Ho 1 i day or other promot i ona 1
activities has not been specifically budgeted.
Discussion ensued regarding calculation of residual funds, and in response
to a question, it was indicated the $2,400 transferred to the CRA is based upon
the 1/4 mill the DDB levied for the fiscal year. Mr. Finegan stated the DDB has
been billed for $2,800 of the unemployment payment, which is to be paid in
August, with the remaining $2,400 to be billed before the end of the 1988/89
fiscal year.
In response to a question, Mr. Wright indicated he did not anticipate the
$301000.budgeted for publicity in the 1988/89 budget being spent and it could
be transferred into the next budget year.
ii,
Discussion ensued regarding the Funding Sources in the Preliminary Budget.
In response to a question, Ms. Deptula, Administrative Services Director stated
the property appraiser provides the information as to downtown taxable value,
and that 1 mill represents a dollar per thousand of value. She said that by
using the taxable valup. generated from the 1 milll less the allowable discount
of 5 percent and an average of 10 percent for doubtful collections, you can come
up with a realistic figure as to what will be collected from levying a certain
millage rate. In response to a question, it was indicated, historically,
doubtful collections have averaged 21 percent, and it is estimated that in the
future, 15 percent would be a good average.
Mr. Carley stated the bulk of the proposed budget would go toward the
promotion of downtown. He indicated the balance of the expenditures in the
preliminary budget are in line with past budgets and he would like to set the
millage rate higher than 0.8250 in order to provide a contingency fund for events
that might be beneficial for downtown.
A question arose as to whether the Promotional Program includes supporting
the Jazz Holiday. Mr. Wright indicated this was the decision of the DDB as they
are the budgetary source.
i!im!ittr~l:flowers distributed the Downtown Clearwater Association's (DCA) request
::l!i!! .lfgri!!~mp':nql!~i9:tion of $15,125 for FY 1989/90.
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[Iearwa er Downtown
Develooment Board
2
7/31/89
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