08/02/2004
eRA Agenda
Date: 08/02/2004
Location: Council Chambers - City Hall
Call to Order
Approval of Minutes:
06-14-2004
CRA Item
1. Appoint Geraldine Campos, Acting Director of the Economic Development and Housing
Department, as the Interim Executive Director of the Community Redevelopment
Agency
2. Approve the proposed third quarter budget amendments to the FY03/04 Community
Redevelopment Agency (CRA) Trust Fund operating budget and authorize the
appropriation of the remaining unused balance of the FY 03/04 CRA Trust Fund budget
at year-end (September 30, 2004) to the Downtown Redevelopment Projects Fund.
Executive Director (Assistant City Manager) verbal reports
Other Business
Adjourn
eRA Agenda 8/2/2004
Page 1 of 1
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CRA Cover Memorandum
. ..................................................
Trackinq Number: 742
Actual Date: 08/02/2004
subiect / Recommendation:
Appoint Geraldine Campos, Acting Director of the Economic Development and Housing
Department, as the Interim Executive Director of the Community Redevelopment Agency
Summary:
Per Florida Statutes, CRA Trustees appoint the Executive Director of the CRA. As Ralph Stone
will be assuming a new position, an Interim Executive Director will need to be appointed until
such time as a new Assistant City Manager/Executive Director of the CRA is appointed.
Oriqinatinq: Economic Development and Housing
Cateqory: Other
Public Hearinq: No
Financial Information:
~ Other
Bid Required? No
Bid Exceptions:
Other
Other Contract?
No Cost
In Current Year Budqet?
No
Budqet Adiustment:
No
Current Year Cost:
$0.00
Annual Operatinq Cost:
$0.00
Review Approval
Geraldine Camoos
07-28-2004
11:47:01
Bill Horne
08-03-2004
17:46:21
Cvndie Goudeau
08-04-2004
15:31:26
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Ralph Stone
CRA Cover Memorandum
07-30-2004
13:55:29
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CRA Cover Memorandum
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Trackinq Number: 708
Actual Date: 08/02/2004
subiect / Recommendation:
Approve the proposed third quarter budget amendments to the FY03/04 Community
Redevelopment Agency (CRA) Trust Fund operating budget and authorize the appropriation of
the remaining unused balance of the FY 03/04 CRA Trust Fund budget at year-end (September
30, 2004) to the Downtown Redevelopment Projects Fund.
Summary:
A review of the CRA projected revenues and expenditures at third quarter indicate the following
proposed budget amendments are necessary to align projected revenues to actual revenues
received through third quarter.
· Tax Increment Revenues increased by $6,900.
· Other Revenues are being increased by $5,751 to reflect actual revenues received to date and
the additional revenues projected to be received from the Station Square Parking Lot through
the end of this fiscal year.
· Transfers In increased by $48,000 from a Downtown Development Board (DDB) Loan to the
CRA for the purchase of the Miller parcel which was purchased to enhance the land being
assembled at the Clearwater Automotive Site for redevelopment.
· Other Operating Expenses Line Items increased overall $19,648 including the purchase of the
Miller Parcel for $43,500 and fees associated with that purchase of $5,165. These increases
were partially offset by the decrease of $31,539 to the Principal Payment line item. Finance
revised projections for the Principal and Interest Payments on the loan for the Cleveland Street
property (Balk project) by taking the remaining balance of the loan as of September 30, 2003
($481,605.48) and spreading the repayment over four years beginning this year. The remaining
$2,522 increase is attributable to minor increases and decreases in various line items.
· Internal Service Line Items increased overall $4,240. The increase was attributed to the cost
of printing the Downtown Theatre RFP, the Main Street Update Quarterly Newsletter and the
Downtown Dining and Shopping Guide.
· Transfer Out Line Items are proposed to be amended as follows:
592400 - Redevelopment Projects Fund increased $36,763. This reflects the net budget
surplus created by the above revenue increases, less the above net expenditure increases. This
surplus is being moved to the Downtown Redevelopment capital projects fund at year-end.
Authorize the appropriation of the remaining unused balance of the FY03/04 CRA Trust Fund
budget at September 30, 2004 to the Downtown Redevelopment Projects Fund 315-94714.
Oriqinatinq: City Manager
Cateqory: Other
Financial Information:
~ Other
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CRA Cover Memorandum
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Bid Required? No
Bid Exceptions:
Other
Other Contract?
No bid
In Current Year Budqet?
No
Budqet Adiustment:
No
Review Approval
Raloh Stone
07-16-2004
Garrv Brumback
07-22-2004
Tina Wilson
07-21-2004
Bill Horne
07-22-2004
Cyndie Goudeau
07-26-2004
09:39:03
09:22:30
15:51:25
21:40:28
10:04: 11
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