07/18/2011COMMUNITY REDEVELOPMENT AGENCY AGENDA Location: Council Chambers -City Hall Date: 7/18/2011-8:30 AM 1. Call to Order 2. Approval of Minutes 2.1 Approve the minutes of the May 31, 2011
CRA Meeting as submitted in written summation by the City Clerk. Attachments 3. CRA Items 3.1 Adopt mid-year budget amendments for the Community Redevelopment Agency for fiscal year
2010/11. Attachments 4. Adjourn
Community Redevelopment Agency Agenda Council Chambers -City Hall Meeting Date:7/18/2011 SUBJECT /RECOMMENDATION: Approve the minutes of the May 31, 2011 CRA Meeting as submitted in
written summation by the City Clerk. SUMMARY: Review Approval: Cover Memo Item # 1
Attachment number 1 Page 1 of 6 Item # 1
Attachment number 1 Page 2 of 6 Item # 1
Attachment number 1 Page 3 of 6 Item # 1
Attachment number 1 Page 4 of 6 Item # 1
Attachment number 1 Page 5 of 6 Item # 1
Attachment number 1 Page 6 of 6 Item # 1
Community Redevelopment Agency Agenda Council Chambers -City Hall Meeting Date:7/18/2011 SUBJECT /RECOMMENDATION: Adopt mid-year budget amendments for the Community Redevelopment Agency
for fiscal year 2010/11. SUMMARY: Amendments to the revenues of the Operating Budget reflect a decrease of $76,359 in TIF received for fiscal year 2010/11 based upon final receipts for
the TIF proceeds from Pinellas County, the City of Clearwater, and the Downtown Development Board. Other revenue amendments for fiscal year 2010/11 reflect an increase of $50,000 in
Interest Earnings, an increase of $1,376 in Other General Revenues, and the allocation of $224,473 of CRA reserves representing the portion of the Central Insurance Fund loan allocated
for the demolition and other site costs for the Economy Inn in order to establish capital project 388-94868, Economy Inn Acquisition/Demolition. Operating expenditure amendments at mid-year
include the return of $247,983 from the Downtown Redevelopment Project to fund: 1. $75,000 in contractual services for the Blast Friday Program 2. $148,000 for the per annum appropriation
to Ruth Eckerd Hall 3. $24,983 to offset the unanticipated loss in net revenues due to lower than expected property values. In addition, budget amendments in both the capital and operating
funds reflect the return of $66,500 of funds incorrectly budgeted in the Capital Budget for the Economy Inn to establish a line item for the related debt operating budget. These funds
were set aside to pay the annual debt interest payment on the Economy Inn loan. All expenditure activity reflected in the Capital Project Fund is for the period ending April 30, 2011.
Review Approval: 1) Office of Management and Budget 2) Legal 3) Clerk 4) Assistant City Manager 5) City Manager 6) Clerk Cover Memo Item # 2
2010/11 Revenue/Mid Year Mid Year Adopted Expenditures Proposed Amended Amend Budget To Date Amendments Budget Ref Revenues & Transfers In Tax Increment Financing Revenues 338930 Pinellas
County 851,275 808,711 (42,564) 808,711 1 381115 City of Clearwater 900,538 871,244 (29,294) 871,244 1 381116 Downtown Development Board 162,352 157,851 (4,501) 157,851 1 Total TIF Revenues
1,914,165 1,837,806 (76,359) 1 ,837,806 Other Revenues 361101 Interest Earnings 100,000 89,930 50,000 150,000 2 369901 Other General Revenue 1,376 1,376 1,376 3 Transfers In 381782 DDB
Administration 62,170 31,085 62,170 381782 Loan Payment From DDB 7,848 7,848 7,848 Reserves 389902 Allocation of Reserves 224,473 224,473 4 Total Revenues & Transfers In 2,084,183 1,968,045
199,490 2 ,283,673 Expenditures & Transfers Out Operating Expenditures 530100 Professional Services 60,000 3,795 60,000 530300 Contractual Services 75,000 75,000 75,000 5 540300 Telephone
Variable 1,500 531 1,500 540700 Postal Service 2,000 3 2,000 541500 Garage Variable 3,600 3,600 541600 Building & Maintenance Variable 3 00 -542200 Electric Utility Charges 9 2 -542500
Postage 200 1 4 200 543100 Advertising 10,000 10,000 543200 Other Promotional Activities 10,000 10,000 543400 Printing & Binding 5,000 916 5,000 547100 Uniforms 150 150 547200 Employee
Expense-Travel 5,000 5,000 548000 Other Services 2,200 705 2,200 550100 Office Supplies 1,000 273 1,000 550400 Operating Supplies 3,000 3,000 550800 Construction Materials 1 50 -557100
Memberships and Subscriptions 4,000 1,027 4,000 557300 Training and Reference 4,000 217 4,000 565800 Construction Material & Services 1,202 -581000 Payments to Other Agencies-DDB 162,352
162,352 162,352 581000 Payments to Other Agencies -Ruth Eckerd 148,000 148,000 5 582000 Aid to Private Organizations 6,000 6,000 6,000 Total Operating Expenditures 280,002 252,577 223,000
503,002 Debt Payments Economy Inn -Interest on Loan 66,500 66,500 6 Total Debt --66,500 66,500 Transfers Out 590200 General Fund-Administrative 3 65,487 213,199 365,487 590800 Downtown
Redevelopment (94714) (247,983) (247,983) 5 590800 East Gateway Project (94849) 1 40,422 140,422 140,422 590800 Downtown Streetscape Phase II (92275) 2 09,729 209,729 209,729 590800
Cleveland Street Maintenance (99968) 1 0,000 10,000 10,000 590800 Waters Edge (Opus) (94860) 1 30,374 130,374 130,374 590800 Marriott Residence Inn (94856) 3 0,394 30,394 30,394 590800
Economy Inn (94866) 6 6,500 66,500 (66,500) -6 590800 Economy Inn Acquisition/Demolition (94868) 224,473 224,473 4 590800 Restricted County TIF Funds 8 51,275 851,275 851,275 Total Transfers
Out 1,804,181 1,651,893 (90,010) 1 ,714,171 Total Expenditures & Transfers Out 2,084,183 1,904,470 199,490 2 ,283,673 Excess of Revenues & Transfers In Over Expenditures & Transfers
Out -63,575 --Community Redevelopment Agency Mid Year Review For the Seven Month Period of October 1, 2010 -April 30, 2011 Attachment number 1 Page 1 of 3 Item # 2
Budget Amendments to Operating Budget 123456 To recognize the return of $66,500 of funds incorrectly budgeted in the capital budget for the Economy Inn to establish a line item for the
related debt operating budget. These funds were set aside to pay the annual debt interest payment on the Economy Inn loan. To reflect the return of $247,983 from the Downtown Redevelopment
project to fund 1) $75,000 in contractual services for the Blast Friday program; 2) $148,000 for the per annum appropriation to Ruth Eckerd Hall approved 11/29/10; and $24,983 to offset
the unanticipated loss in net revenues due to lower than expected property values. Community Redevelopment Agency Mid Year Review For the Seven Month Period of October 1, 2010 -April
30, 2011 The budget amendment reflects a decrease of $76,359 in anticipated operating revenues based upon final receipts for the TIF proceeds from Pinellas County, the City of Clearwater,
and the Downtown Development Board. To reflect an anticipated $50,000 increase in interest earnings for fiscal year 2010/11 in the CRA operating fund. To reflect an increase of $1,376
in other general revenues for fiscal year 2010/11 in the CRA operating fund. To reflect the allocation of $224,473 of reserves representing the portion of the Central Insurance Fund
loan allocated for the demolition and other site costs for the Economy Inn to establish capital project 388-94868, to cover the costs of demolition. This was approved by the CRA on September
7, 2010. Attachment number 1 Page 2 of 3 Item # 2
Project Amendments Mid Year Mid Year Project Budget Proposed Amended Project Open Available Amend # Description 10/1/2011 Amendments Budget To Date Encumbr Balance Status Ref 388-92275
Downtown Streetscape Phase II 2,498,303 2,498,303 2,059,107 150,413 288,783 388-93405 Downtown Boat Slips 1,500,000 1,500,000 1,500,000 0 C 388-94714 Downtown Redevelopment 1,169,289
( 124,710) 1,044,579 19,410 1,025,169 1 388-94765 IMR Development 99,271 99,271 4,660 94,611 388-94847 Clearwater Centre-1100 Cleveland 1,040,000 1,040,000 505,917 534,083 388-94849
East Gateway 569,591 569,591 475,325 94,266 388-94851 Affordable Housing 250,000 250,000 250,000 388-94852 Retail Attraction/Assistance 415,000 415,000 279,732 58,350 76,918 388-94853
Cleveland District Branding 176,000 176,000 58,009 117,991 388-94855 Cleveland Auto EPA Loan 350,000 350,000 350,000 0 C 388-94856 Marriott Residence Inn 242,933 242,933 211,508 31,426
388-94859 Station Square Development 460,000 460,000 460,000 388-94860 Water's Edge (Opus) 541,989 541,989 449,340 92,649 388-94862 CarPro Site 325,000 325,000 311,977 13,023 388-94864
Main Street Clearwater Development 50,000 50,000 50,000 0 C 388-94865 Rule Development 80,119 69,881 150,000 139,792 10,208 0 2 388-94866 Economy Inn -Debt 66,500 ( 66,500) 0 0 C 3 388-94867
St. Vincent DePaul Prop Acq 625,000 625,000 625,000 388-94868 Economy Inn Acquisition/Demolition -224,473 224,473 58,168 99,284 67,021 4 388-99963 Economic Development Incentive 153,861
153,861 54,675 99,186 388-99968 Cleveland Street Maintenance 82,676 82,676 15,008 67,668 388-99979 Historical Facade Program 262,165 262,165 53,898 208,267 388-99981 Clearwater Auto
Site -General 187,659 187,659 3,245 184,414 388-99986 Mediterranean Village 259,538 259,538 44,708 214,830 Total 11,404,893 103,144 11,508,036 6,644,479 318,255 4,545,302 Budget Amendments
to Projects 1234 To reflect the allocation of $224,473 of reserves representing the portion of the Central Insurance Fund loan allocated for the demolition and other site costs for the
Economy Inn to establish capital project 388-94868, to cover the costs of demolition. This was approved by the CRA on September 7, 2010. To return $66,500 of funding set aside for the
debt payments on the Economy Inn to the operating fund. This allows the debt payments to be budgeted and expensed correctly in the operating budget. Actual Expenditures Community Redevelopment
Agency CRA Capital Improvement Project Fund Mid Year Review For the Seven Month Period of October 1, 2010 -April 30, 2011 To record a budget transfer of $69,881 from project 388-94714,
Downtown Redevelopment, to correct the project budget to reflect the total amount of the Rule LLP contract agreement approved by the Community Redevelopment Agency on June 1, 2009 which
was $150,000. To record a net budget decrease of $124,710 representing the following project amendments: 1) an increase of $193,153.71 to the budget only to reflect CRA revenues transferred
to the project at year-end 2009/10 representing the net operating proceeds in the CRA operating fund at fiscal year end 2009/10; 2) to return $75,000 to the CRA operating fund to fund
the cost of the Blast Friday program for the current fiscal year; 3) to return $148,000 to the CRA operating budget for the per annum appropriation to Ruth Eckerd Hall approved 11/29/10;
4) to return $24,983 to the CRA operating budget to offset the unanticipated loss in net revenues due to lower than expected: 5)To record a budget transfer of $69,881 to project 388-94865,
Rule Development, to correct that project budget to reflect the total amount of the contract agreement approved by the CRA on June 1,2009 which was $150,000. Attachment number 1 Page
3 of 3 Item # 2
Community Redevelopment
Agency Agenda
Council Chambers - City
Hall
Meeting Date:7/18/2011
SUBJECT / RECOMMENDATION:
Approve the minutes of the May 31, 2011 CRA Meeting as submitted in written summation by the City Clerk.
SUMMARY:
Review Approval:
Cover Memo
Attachment number 1
Page 1 of 6
Attachment number 1
Page 2 of 6
Attachment number 1
Page 3 of 6
Attachment number 1
Page 4 of 6
Attachment number 1
Page 5 of 6
Attachment number 1
Page 6 of 6
Community Redevelopment
Agency Agenda
Council Chambers - City
Hall
Meeting Date:7/18/2011
SUBJECT / RECOMMENDATION:
Adopt mid-year budget amendments for the Community Redevelopment Agency for fiscal year 2010/11.
SUMMARY:
Amendments to the revenues of the Operating Budget reflect a decrease of $76,359 in TIF received for fiscal year 2010/11 based
upon final receipts for the TIF proceeds from Pinellas County, the City of Clearwater, and the Downtown Development Board.
Other revenue amendments for fiscal year 2010/11 reflect an increase of $50,000 in Interest Earnings, an increase of $1,376 in
Other General Revenues, and the allocation of $224,473 of CRA reserves representing the portion of the Central Insurance Fund
loan allocated for the demolition and other site costs for the Economy Inn in order to establish capital project 388-94868, Economy
Inn Acquisition/Demolition.
Operating expenditure amendments at mid-year include the return of $247,983 from the Downtown Redevelopment Project to fund:
1. $75,000 in contractual services for the Blast Friday Program
2. $148,000 for the per annum appropriation to Ruth Eckerd Hall
3. $24,983 to offset the unanticipated loss in net revenues due to lower than expected property values.
In addition, budget amendments in both the capital and operating funds reflect the return of $66,500 of funds incorrectly budgeted
in the Capital Budget for the Economy Inn to establish a line item for the related debt operating budget. These funds were set aside
to pay the annual debt interest payment on the Economy Inn loan.
All expenditure activity reflected in the Capital Project Fund is for the period ending April 30, 2011.
Review Approval:1) Office of Management and Budget 2) Legal 3) Clerk 4) Assistant City Manager 5) City Manager 6) Clerk
Cover Memo
2010/11Revenue/Mid YearMid Year
AdoptedExpendituresProposed AmendedAmend
BudgetTo DateAmendmentsBudgetRef
Revenues & Transfers In
Tax Increment Financing Revenues
338930Pinellas County851,275 808,711 (42,564) 808,711 1
381115City of Clearwater900,538 871,244 (29,294) 871,244 1
381116Downtown Development Board162,352 157,851 (4,501) 157,851 1
Total TIF Revenues1,914,165 1,837,806 (76,359) 1,837,806
Other Revenues
361101Interest Earnings100,000 89,930 50,000 150,000 2
369901Other General Revenue1,376 1,376 1,376 3
Transfers In
381782DDB Administration62,170 31,085 62,170
381782Loan Payment From DDB7,848 7,848 7,848
Reserves
389902Allocation of Reserves224,473 224,473 4
Total Revenues & Transfers In2,084,183 1,968,045 199,490 2,283,673
Expenditures & Transfers Out
Operating Expenditures
530100Professional Services60,000 3,795 60,000
530300Contractual Services75,000 75,000 75,000 5
540300Telephone Variable1,500 531 1,500
540700Postal Service2,000 3 2,000
541500Garage Variable3,600 3,600
541600Building & Maintenance Variable300 -
542200Electric Utility Charges92 -
542500Postage200 14 200
543100Advertising10,000 10,000
543200Other Promotional Activities10,000 10,000
543400Printing & Binding5,000 916 5,000
547100Uniforms150 150
547200Employee Expense-Travel5,000 5,000
548000Other Services2,200 705 2,200
550100Office Supplies1,000 273 1,000
550400Operating Supplies3,000 3,000
550800Construction Materials150 -
557100Memberships and Subscriptions4,000 1,027 4,000
557300Training and Reference4,000 217 4,000
565800Construction Material & Services1,202 -
581000Payments to Other Agencies-DDB162,352 162,352 162,352
581000Payments to Other Agencies - Ruth Eckerd148,000 148,000 5
582000Aid to Private Organizations6,000 6,000 6,000
Total Operating Expenditures280,002 252,577 223,000 503,002
Debt Payments
Economy Inn - Interest on Loan66,500 66,500 6
Total Debt- - 66,500 66,500
Transfers Out
590200General Fund- Administrative365,487 213,199 365,487
590800 Downtown Redevelopment (94714)(247,983) (247,983) 5
590800East Gateway Project (94849)140,422 140,422 140,422
590800 Downtown Streetscape Phase II (92275)209,729 209,729 209,729
590800Cleveland Street Maintenance (99968)10,000 10,000 10,000
590800Waters Edge (Opus) (94860)130,374 130,374 130,374
590800Marriott Residence Inn (94856)30,394 30,394 30,394
590800 Economy Inn (94866)66,500 66,500 (66,500) - 6
590800Economy Inn Acquisition/Demolition (94868)224,473 224,473 4
590800Restricted County TIF Funds 851,275 851,275 851,275
Total Transfers Out1,804,181 1,651,893 (90,010) 1,714,171
Total Expenditures & Transfers Out2,084,183 1,904,470 199,490 2,283,673
Excess of Revenues & Transfers In Over
Expenditures & Transfers Out- 63,575 - -
Community Redevelopment Agency
Mid Year Review
For the Seven Month Period of October 1, 2010 - April 30, 2011
Attachment number 1
Page 1 of 3
Budget Amendments to Operating Budget
1
2
3
4
5
6
To recognize the return of $66,500 of funds incorrectly budgeted in the capital budget for the Economy Inn to establish a line
item for the related debt operating budget. These funds were set aside to pay the annual debt interest payment on the
Economy Inn loan.
To reflect the return of $247,983 from the Downtown Redevelopment project to fund 1) $75,000 in contractual services for the Blast Friday
program; 2) $148,000 for the per annum appropriation to Ruth Eckerd Hall approved 11/29/10; and $24,983 to offset the unanticipated loss in
net revenues due to lower than expected property values.
Community Redevelopment Agency
Mid Year Review
For the Seven Month Period of October 1, 2010 - April 30, 2011
The budget amendment reflects a decrease of $76,359 in anticipated operating revenues based upon final receipts for the TIF
proceeds from Pinellas County, the City of Clearwater, and the Downtown Development Board.
To reflect an anticipated $50,000 increase in interest earnings for fiscal year 2010/11 in the CRA operating fund.
To reflect an increase of $1,376 in other general revenues for fiscal year 2010/11 in the CRA operating fund.
To reflect the allocation of $224,473 of reserves representing the portion of the Central Insurance Fund loan allocated for the
demolition and other site costs for the Economy Inn to establish capital project 388-94868, to cover the costs of demolition.
This was approved by the CRA on September 7, 2010.
Attachment number 1
Page 2 of 3
Project Amendments
Mid YearMid Year
ProjectBudgetProposed AmendedProjectOpenAvailableAmend
#Description10/1/2011AmendmentsBudgetTo DateEncumbrBalanceStatusRef
388-92275Downtown Streetscape Phase II2,498,303 2,498,3032,059,107150,413288,783
388-93405Downtown Boat Slips1,500,000 1,500,0001,500,0000C
388-94714Downtown Redevelopment 1,169,289 (124,710) 1,044,57919,4101,025,1691
388-94765IMR Development99,271 99,2714,66094,611
388-94847Clearwater Centre-1100 Cleveland1,040,000 1,040,000505,917534,083
388-94849East Gateway569,591 569,591475,32594,266
388-94851Affordable Housing250,000 250,000250,000
388-94852Retail Attraction/Assistance415,000 415,000279,73258,35076,918
388-94853Cleveland District Branding176,000 176,00058,009117,991
388-94855Cleveland Auto EPA Loan350,000 350,000350,0000C
388-94856Marriott Residence Inn242,933 242,933211,50831,426
388-94859Station Square Development460,000 460,000460,000
388-94860Water's Edge (Opus)541,989 541,989449,34092,649
388-94862CarPro Site325,000 325,000311,97713,023
388-94864Main Street Clearwater Development50,000 50,00050,0000C
388-94865Rule Development80,119 69,881 150,000139,79210,20802
388-94866Economy Inn - Debt66,500 (66,500) 00C3
388-94867St. Vincent DePaul Prop Acq625,000 625,000625,000
388-94868Economy Inn Acquisition/Demolition- 224,473 224,47358,16899,28467,0214
388-99963Economic Development Incentive153,861 153,86154,67599,186
388-99968Cleveland Street Maintenance82,676 82,67615,00867,668
388-99979Historical Facade Program262,165 262,16553,898208,267
388-99981Clearwater Auto Site - General187,659 187,6593,245184,414
388-99986Mediterranean Village259,538 259,53844,708214,830
Total 11,404,893 103,144 11,508,036 6,644,479 318,255 4,545,302
Budget Amendments to Projects
1
2
3
4
To reflect the allocation of $224,473 of reserves representing the portion of the Central Insurance Fund loan allocated for the
demolition and other site costs for the Economy Inn to establish capital project 388-94868, to cover the costs of demolition. This
was approved by the CRA on September 7, 2010.
To return $66,500 of funding set aside for the debt payments on the Economy Inn to the operating fund. This allows the debt
payments to be budgeted and expensed correctly in the operating budget.
Actual Expenditures
Community Redevelopment Agency
CRA Capital Improvement Project Fund
Mid Year Review
For the Seven Month Period of October 1, 2010 - April 30, 2011
To record a budget transfer of $69,881 from project 388-94714, Downtown Redevelopment, to correct the project budget to
reflect the total amount of the Rule LLP contract agreement approved by the Community Redevelopment Agency on June 1, 2009
which was $150,000.
To record a net budget decrease of $124,710 representing the following project amendments: 1) an increase of $193,153.71 to
the budget only to reflect CRA revenues transferred to the project at year-end 2009/10 representing the net operating proceeds in
the CRA operating fund at fiscal year end 2009/10; 2) to return $75,000 to the CRA operating fund to fund the cost of the Blast
Friday program for the current fiscal year; 3) to return $148,000 to the CRA operating budget for the per annum appropriation to
Ruth Eckerd Hall approved 11/29/10; 4) to return $24,983 to the CRA operating budget to offset the unanticipated loss in net
revenues due to lower than expected: 5)To record a budget transfer of $69,881 to project 388-94865, Rule Development, to
correct that project budget to reflect the total amount of the contract agreement approved by the CRA on June 1,2009 which was
$150,000.
Attachment number 1
Page 3 of 3