08/30/2004
Call to Order
Approval of Minutes:
08-02-2004
eRA Agenda
Date: 08/30/2004
Location: Council Chambers - City Hall
CRA Item
1. Adopt the proposed FY 2004/05 Community Redevelopment Agency budget.
Executive Director (Assistant City Manager) verbal reports
Other Business
Adjourn
eRA Agenda 8/30/2004
Page 1 of 1
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Trackinq Number: 774
Actual Date: 08/30/2004
subiect / Recommendation:
Adopt the proposed FY 2004/05 Community Redevelopment Agency budget.
Summary:
The 2004 Estimates of Taxable Value for the CRA District increased 10.1%. As a result, Tax
Increment Revenues increased $211,056 from the previous year to approximately $1,157,846.
The details of the proposed budget in comparison to last year's budget are:
Revenues and Transfers In:
Rental Income is being decreased $9,000 due to pending redevelopment of the Station Square
Parking Lot site. Parking rental has been estimated for the first two months of the budget year
as the new development project may begin in December 2004.
DDB Administration reflects a $1,890 increase (4%). This change is contingent upon the
approval of an Inter-local agreement between the DDB and CRA for the administration of the
DDB.
Expenditures and Transfers Out:
Operating Expenditures:
As funds available from the Downtown Development Board and the Economic Development
Department (general fund)can be used more effectively to cover operating costs, we are able to
decrease operating expenses in the CRA.
Document Reproduction decreased $4,000.
Postal Service, Building & Maintenance Variable, Postage, Other Promotional Activities,
Printing/Binding (outside) and Employee Expense-Meals line items decreased a total of $5,740.
Other Services line item decreased $5,250 - it was increased last year to cover the fees
associated with the purchase of the Miller parcel at the Clearwater Automotive site.
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Office Supplies, Operating Supplies and Memberships/Subscriptions decreased by $500 each for
a total reduction of $1,500.
Land Purchase - Resale decreased $43,500 to zero - purchase of the Miller parcel in the FY03/04
budget.
Payments to Other Agencies - DDB increased $16,368 to equal the TIF dollar amount the DDB
pays to the CRA.
Transfers Out:
General Fund - Administrative increased $12,200 or 5.6%. Includes a 4% salary increase for
the 2.5 positions funded by the CRA and increases in costs related to benefits for the positions.
Clea rwater Automotive Project - Property Taxes increased $11 ,000.
Restricted County TIF Funds increased $551,445. These funds can only be used for capital
projects, land acquisition or environmental remediation.
Mediterranean Village Project Fund increased $63,960 for the third and final year of
Development Agreement commitment.
Cleveland Street Maintenance Fund decreased $10,000.
Redevelopment Projects Fund decreased $429,039. In FY03/04 this fund was increased to cover
commitments made to the Cleveland streetscape CIP Project. In FY04/05, CIP projects will be
funded by the County Restricted TIF funds noted above.
Oriqinatinq: City Manager
Cateqory: Agreements/Contracts - without cost
Financial Information:
Review Approval
Geraldine Camoos
08-18-2004
09:40:30
Cvndie Goudeau
08-26-2004
14:54:04
Garrv Brumback
08-24-2004
16:45:54
Bill Horne
08-26-2004
11:12:55
Pam Akin
08-19-2004
11:36:28
Community Redevelopment Agency
Proposed FY 04-05 Budget
Approved Proposed
FY 03/04 FY 04/05
Amended Budget Budget
Revenues & Transfers In
Tax Increment Financing Revenues
338930 Pinellas County $ 450,926 $ 551,445
381115 City of Clearwater 422,436 516,604
381116 Downtown Development Board 73,429 89,797
Total TIF Revenues 946,791 1,157,846
Other Revenues
361101 Interest Earnings 15,000 15,000
362101 Rental Income-Station Square Parking Lot 10,000 1,000
369901 Other General Revenue 751 750
Transfers In
381782 DDB Loan Advance for Miller Parcel 48,000 -
381782 DDB Administration 47,244 49,134
381782 Loan Payment From DDB 7,848 7,848
Total Revenues & Transfers In 1,075,634 1,231,578
Expenditures & Transfers Out
Operating Expenditures
530100 Professional Services 50,000 50,000
530300 Other Contractual Services - -
540200 Document Reproduction 7,500 3,500
540700 Postal Service 200 -
541600 Building & Maintenance Variable 240 -
542500 Postage 200 -
543100 Advertising - -
543200 Other Promotional Activities 2,500 -
543400 Printing & Binding 2,500 -
547200 Employee Expense-Travel 5,000 5,000
547400 Employee Expense-Meals 100 -
548000 Other Services 5,450 200
550100 Office Supplies 1,500 1,000
550400 Operating Supplies 1,500 1,000
557100 Memberships and Subscriptions 2,500 2,000
557300 Training and Reference 1,500 1,500
560200 Land Purchase - Resale (Miller Parcel) 43,500 -
571200 Principal Payment for Loan 120,402 120,402
571220 Interest Payment for Loan 15,701 15,701
581000 Payments to Other Agencies-DDB 73,429 89,797
582000 Aid to Private Organizations 55,000 55,000
Total Operating Expenditures 388,722 345,100
Transfers Out
590200 General Fund- Administrative 217,371 229,571
590800 Clearwater Automotive Project - Prop. Taxes 0 11,000
590800 Restricted County TIF Funds 0 551,445
590800 Mediterranean Village Project Fund 0 63,960
590800 Cleveland Street Maintenance Fund 10,000 -
590800 Fayade Improvement Grant Fund 30,000 30,000
592400 Redevelopment Projects Fund 429,541 502
Total Transfers Out 686,912 886,478
Total Expenditures & Transfers Out 1,075,634 1,231,578
Excess of Revenues & Transfers In Over
Expenditures & Transfers Out $ - $ -