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01/19/1999 (2) :1'd . ,; ~ ~~,;,~:~,.' .' . , '(\';<' \ . . ',. . . ~l+ , L " ~ j :r~ :;' ,:) J 'c '..= ,t .' '.,. . .. ", " ,~' ." ' t I. 't COMMUNITY REDEVELOPMENT AGENCY MEETING CITY OF CLEARWATER January 19, 1999 i !. I i l I Present: Rita Garvey Ed Hooper J; B. Johnson Robert Clark Karen Seel Michael J. Roberto Rick Hedrick Bob Keller Pamela K. Akin Cynthia E. Goudeau Patricia Sullivan Chair Trustee Trustee Trustee Trustee City Manager Deputy City Manager Assistant City Manager/CRA Director City Attorney City Clerk Board Reporter The Chair called the meeting to order at 9:07 a.m. at City Hall. To provide continuity for research, items are in agenda order although not necessarily discussed in that order. ITEM #2 - Approval of Minutes Trustee Seel moved to approve the minutes of the October 12, 1998, meeting, and the October 15, 1998 special meeting, as recorded and submitted in written summation by the City Clerk to each Trustee. The motion was duly seconded and carried unanimously. ITEM #3 - Appoint a eRA Trustee to the Executive Steerina Committee for the . Downtown Clearwater Joint Venture for the Main Street Proaram The Downtown Clearwater Joint Venture consists of the Executive Steering Committee, co-chairs of the project committees, and the OutreachlVolunteerl Fundraising chair. The CRA (Community Redevelopment Agency) Executive Director, a CRA Trustee, and a DDB (Downtown Development Board) member make up the Executive Steering Committee which will: 1) identify organizational goals, and 'facilitate and support the promotion, design, and economic restructuring project committ'ees; 2) receive project committee input and identify funding sources to support these programs; 3) brief the CRA and DDS at their meetings; and 4) convene monthly as the Downtown Clearwater Joint Venture. An Executive Steering Committee member also can serve as a project committee member. The Main Street Program Coordinator will report to the CRA Executive Director. mcr0199 1 01/19/99 , '.' .,. . .... ". I , '.to 1:/ ' . tn response to a questIon, Mr. Keller said the projects will be funded by a $10,000 State grant and CRA and DDS funds. Matching fund requirements of any future grants will be raised from the eRA and DDS, not the City's General Fund. Trustee Hooper moved to appoint Trustee Clark to the Executive Steering Committee for the Downtown Clearwater Joint Venture for the Main Street Program. The motion was duly seconded and carried unanimously. ITEM #4 - Aoprove amended First Quarter Fiscal Year 1998/99 CRA budqet " ,1 The revenue budget, corrected to reflect the final Property Appraisers' valuation on taxable values, assumes the DDS payment of the tax increment. FY (fiscal year) 1998/99 operating revenues have decreased $41,091 from the original budget which was based on estimates. Major value adjustments relate to: 1} IMRglobal property, considered taxable in the estimate, was not owned by the company on January 1, 1998; 2) Cleveland Plaza was valued $400,000 less than estimated; and 3) the Nationsbank building was valued $600,000 less than the estimate. Rental Income Revenue increased by $6,000 to include Station Square Parking Lot income. Sale revenues from the 1180 Cleveland Street property is a pass through item resulting in no net effect. :J Almost every Operating Expenditure line was reduced with the biggest reduction in Professional Services which may impact studies planned this year. As a Main Street community, the City can tap into services at a reduced fee which may offset this line item reduction. Promotions also may have to be reduced. Administrative Support Manager Diane Smith reviewed the budget and adjustments. In response to a question, she said according to State law, property taxes cannot be prorated. Trustee Clark moved to approve the amended First Quarter Fiscal Year 1998/99 CRA budget. The motion was ,duly seconded and carried unanimously. ITEM #5 w Approve establishment of an Economic Development Incentive Proiect Fund: authorize transfer of $129,452 in Other Revenues - Sale of Buildings to that fund; and authorize future revenues from sale of properties to be placed in that fund Incentives sometimes are necessary to encourage the private sector to risk developing or redeveloping property within the CRA. A separate fund will assure money can be earmarked for specific projects. It will not be co-mingled with CRA operating dollars. Staff recommends initiating the Economic Development Incentive Project fLlnd with the $129,452, in proceeds from the sale of the 1180 Cleveland Street property. The determination of incentives will be based on redevelopment projects brought forward. In response to a question, Mr. Keller said incentives could be used to install landscaping or for parking impact fees. It was stated the fund is designed to use for :J larger projects. mcrO 199 2 01/19/99 ;re~-~"" ,- - ',.' .1 '.' , ,., " ,~\. " ".: I"~. ,J. ': c' , ',:-:." ,,' I;: ~'IP" ~..! :~:~. ~ , ..~, ..' Trustee Johnson moved to approve establishment of an Economic Development Incentive Project Fund, authorize transfer of $129,452 in Other Revenues. Sale of Buildings to that fund, and authorize future revenues from the sale of properties to be placed in that fund and that the appropriate officials be authorized to execute same. The motion was duly seconded and carried unanimously. ITEM #6 - Assistant City Manaaer Verbal Reoorts Mr. Keller announced an actuarial and consulting firm with as many as 125 employees, Wakely and Associates, is negotiating a 7-year lease for downtown space. He requested conceptual approval of an incentive program valued at $100,000, indicating he will present a contract at the appropriate time. Incentives are recommended to include $80,000 in free parking in the Garden Avenue Garage and $20,000 from the Brownfields Stabilization Fund, upon demonstration of a signed lease, to help with equipment. Parking costs will be spread over 5 years. The incentives will be verified as pay for performance and are not gifts. Trustee Johnson moved to approve the concept of an incentive program valued at $100,0000 to attract Wakely and Associates to locate downtown. The motion was duly seconded. .eo ~. . In response to a recommendation the Brownfields grant be prorated, Mr. Keller said Wakely and Associates had agreed to return $10,000 of the $ 20,000 grant if the company abandons its space within the first three years. Upon the vote being taken, the motion carried unanimously. Mr. Keller said soon he will bring forward an Interlocal agreement with the DDB for the eRA to provide management service to the DDB. ITEM #7 - Other Business - None. ITEM #8 - Adjourn The meeting adjourned at 9:33 a.m. ATTESTJtCJL J:: I!, po. T City Clerk . - o mcrO 199 3 01/19/99 , r., .. 'I. . \ ,I." ,. ", " . "