15-02RESOLUTION NO 15 -02
A RESOLUTION OF THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF
CLEARWATER, FLORIDA, ADOPTING THE CRA FY2014-
15 AMENDMENTS TO ANNUAL OPERATING BUDGET
AND CAPITAL BUDGETS; PROVIDING AN EFFECTIVE
DATE.
WHEREAS, the Community Redevelopment Agency (CRA) annual budget
requirements have been clarified and Section 189.418(3), of the Florida Statutes
require that CRA's adopt their annual budgets by resolution; now, therefore,
BE IT RESOLVED BY THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF
CLEARWATER, FLORIDA:
Section 1. Adopt the FY2014/15 AMENDMENTS TO CRA Operating and Capital
Budgets as outlined on Exhibit A.
Section 2. This resolution shall take effect immediately upon adoption.
PASSED AND ADOPTED this 31st day of August, 2015.
George N. Cretekos
Chairman
Approved as to form: Attest:
14 it-
Pamela . Akin
City Attorney
Resolution No. 15 -02
Community Redevelopment Agency
Year End Review
For the Ten Month Period of October 1, 2014 - July 31, 2015
Revenues & Transfers In
Tax Increment Financing Revenues
338930 Pinellas County
381115 City of Clearwater
381116 Downtown Development Board
Total TIF Revenues
Other Revenues
2014/15 Revenue/ Mid Year
Adopted Expenditures Proposed Amended Amend
Budget To Date Amendments Budget Ref
874,952 854,863 (20,089) 854,863 1
854,967 824,991 (29,976) 824,991 1
160,064 154,566 (5,498) 154,566 1
1,889,983 1,834,420 (55,563) 1,834,420
361101 Interest Earnings 50,000 75,129 25,129 75,129 2
369901 Other General Revenue 1,200 1,200 1,200 3
Transfers In
381782 DDB Administration 63,724 53,100 - 63,724
Use of Fund Reserves
389902 Allocation of Prior Year Reserves - 301,303 301,303 4
Total Revenues & Transfers In 2,003,707 1,963,849 272,069 2,275,776
Expenditures & Transfers Out
Operating Expenditures
530100 Professional Services 60,000 35,972 60,000
530300 Other Contractual Services - 27,664 -
540300 Telephone Variable 1,000 944 1,000
540700 Postal Service 250 - 250
542200 Electric - Utility Charges 1,000 124 1,000
542500 Postage 200 - 200
543100 Advertising 5,000 - 5,000
543200 Other Promotional Activities 5,000 2,450 5,000
543400 Printing & Binding 2,500 474 2,500
547100 Uniforms 150 - 150
547200 Employee Expense - Travel 5,000 2,226 5,000
547300 Mileage Reimbursement 1,000 215 1,000
548000 Other Services 2,000 212 2,000
550100 Office Supplies 1,000 106 1,000
550400 Operating Supplies 3,000 730 3,000
557100 Memberships and Subscriptions 2,000 1,782 2,000
557300 Training and Reference 5,000 1,467 5,000
581000 Payments to Other Agencies -DDB 160,064 154,566 (5,498) 154,566 1
581000 Payments to Other Agencies - Blast Friday - - 75,000 75,000 5
582000 Aid to Private Organizations 6,000 81,000 6,000
Total Operating Expenditures 260,164 309,932 69,502 329,666
Transfers Out
590200 GeneralFund- Administrative 373,262 612,353 301,303 674,565 4
590800 East Gateway Project (94849) 174,288 174,288 174,288
590800 Cleveland Street Maintenance (99968) 25,000 25,000 25,000
590800 Marriott Residence Inn (94856) 21,239 21,239 21,239
590800 Restricted County TIF Funds 874,952 874,952 (20,089) 854,863 6
590800 Downtown Redevelopment (94714) 113,724 113,724 (78,647) 35,077 7
590800 Cleveland Street Branding (94853) 15,000 15,000 15,000
590800 Capitol Theatre Contribution (94872) - - -
590800 Technology District Incentives (94872) 100,000 100,000 100,000
590800 Downtown Intermodal (92839) 46,078 46,078 46,078
Total Transfers Out 1,743,543 1,982,634 202,567 1,946,110
Total Expenditures & Transfers Out 2,003,707 2,292,566 272,069 2,275,776
Excess of Revenues & Transfers In Over
Expenditures & Transfers Out (328,717)
Budget Amendments to Operating Budget
1 To adjust budgeted revenue to actual TIF receipts, and adjust the related payment to the DDB to match actual receipts.
2 To adjust budgeted interest revenue to actual receipts to date.
3 To adjust miscellaneous other revenue to actual receipts to date.
To allocate prior year reserves to fund the transfer to the City as compensation for the Prospect Lake land transfer
4 reimbursement to HUD as approved by the CRA on August 4, 2014.
To increase payment to agencies by $75,000 to fund the grant to Clearwater Downtown Events, Inc for Blast Friday
5 as approved by the CRA on November 3, 2014.
To reduce the budget transfer of Restricted County TIF funds to the East Gateway project by $20,089 to compensate
6 for the loss in tax increment financing.
To reduce the budget transfer to the Downtown Redevelopment project by $75,000 to fund the grant to Clearwater
Downtown Events, Inc for Blast Friday as approved by the CRA on November 3, 2014; and by $3,647 to compensate
7 for the loss in tax increment financing net of the miscellaneous revenue amendments noted above.
Community Redevelopment Agency
CRA Capital Improvement Project Fund
Year End Review
For the Ten Month Period of October 1, 2014 - July 31, 2015
Project Amendments
Mid Year Actual Expenditures
Project Budget Proposed Amended Project Open Available Amend
# Description 10/1/2014 Amendments Budget To Date Encumbr Balance Status Ref
388 -92839 Downtown Intermodal 46,078 46,078 0 46,078
388 -94714 Downtown Redevelopment 2,060,699 (607,330) 1,453,369 513,558 939,811 1,2,3,6
388 -94765 IMR Development 99,271 99,271 4,660 94,611
388 -94847 Clearwater Centre -1100 Cleveland 620,000 620,000 505,917 114,083
388 -94849 East Gateway 1,822,214 (16,943) 1,805,271 1,201,256 604,015 4,5
388 -94851 Affordable Housing 250,000 250,000 0 250,000
388 -94852 Retail Attraction /Assistance 435,000 435,000 326,750 23,857 84,393
388 -94853 Cleveland District Branding 201,000 201,000 88,345 112,655
388 -94856 Marriott Residence Inn 296,391 296,391 227,617 68,774
388 -94859 Station Square Development 460,000 460,000 0 460,000
388 -94862 Car Pro Site 325,000 325,000 314,652 10,348
388 -94866 Economy Inn Debt 1,071,000 1,071,000 673,136 397,864
388 -94868 Economy Inn Demolition 227,473 227,473 143,523 83,950
388 -94872 Technology District Incentives 300,000 300,000 21,750 22,850 255,400
388 -94884 Property Acquisition 1356 Park Street - 65,000 65,000 65,000 2
388 -94885 ULI Implementation - 1,000,000 1,000,000 1,000,000 7
388 -99963 Economic Development Incentive 153,861 153,861 72,495 81,366
388 -99968 Cleveland Street Maintenance 137,676 137,676 47,688 89,987
388 -99979 Historical Facade Program 262,165 262,165 64,753 197,412
388 -99881 Clearwater Auto Site - General 187,659 187,659 7,167 180,492
388 -99986 Mediterranean Village 259,538 259,538 96,431 7,859 155,248
Total 9,215,024 440,727 9,655,751 4,309,698 54,566 5,291,487
Budget Amendments to Projects
To reduce the budget transfer to the Downtown Redevelopment project by $75,000 to provide funding for the grant to Clearwater Downtown Events, Inc. for
Blast Friday as approved by the CRA on November 3, 2014, and by $3,647 due to the reduction in tax increment receipts in the operating budget for the fiscal
1 year, and to adjust for the amendments noted below (items 2, 3 and 6).
To transfer $65,000 from 388 - 94714, Downtown Redevelopment, to project 388 - 94884, Property Acquisition 1356 Park Street to provide funding necessary for
2 property acquisition as approved by the CRA on July 13, 2015.
To increase the budget by a net total of $536,317.15 representing prior year excess cash which totals $535,343.24 and other revenue which totals $973.91.
3 This will bring the budget in line with actual cash received in the project.
To reduce the budgeted transfer by $20,089 due to the reduction in County tax increment receipts in the operating fund for the fiscal year, and adjust for the
4 amendment below (item 5).
To increase the budget by a net total of $3,146.04 representing an increase to other revenue which totals $4,731.98, an increase to reimbursements for
5 $1,000.00, and a decrease to CRA transfer in revenue of $2,585.94. This will bring the budget in line with actual cash received in the project.
To transfer $1,000,000 from 388 - 94714, Downtown Redevelopment, to project 388 - 94885, ULI Implementation to provide funding for ULI priorities as
6 discussed by the board on September 15, 2014.
To establish project 388- 94885, ULI Implementation and transfer $1,000,000 from 388 - 94714, Downtown Redevelopment to provide funding for ULI priorities
7 as discussed by the board on September 15, 2014.