16-03RESOLUTION NO 16 -03
A RESOLUTION OF THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF
CLEARWATER, FLORIDA, ADOPTING THE CRA
FY2015/16 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 FY2015/16 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 15th day of August, 2016.
—cteoi\e(\cetV1(495
George N. Cretekos
Chairman
Approved as to form: Attest:
Rosemarie Call
City Clerk
Resolution No. 16 -03
Community Redevelopment Agency
Year End Review
For the Ten Month Period of October 1, 2015 - June 30, 2016
Revenues & Transfers In
Tax Increment Financing Revenues
338930 Pinellas County
381115 City of Clearwater
381116 Downtown Development Board
Total TIF Revenues
Other Revenues
361101 Interest Earnings
369901 Other General Revenue
Transfers In
381782 DDB Administration
Use of Fund Reserves
389902 Allocation of Prior Year Reserves
2015/16
Adopted
Budget
Revenue/
Expenditures
To Date
Proposed
Amendments
Mid Year
Amended Amend
Budget Ref
958,325 958,023 (302) 958,023 1
925,156 924,864 (292) 924,864 1
173,273 173,218 (55) 173,218 1
2,056,754 2,056,105 (649) 2,056,105
50,000 80,022 30,022 80,022 2
1,650 1,650 1,650 3
65,317 48,988 65,317
Total Revenues & Transfers In 2,172,071
Expenditures & Transfers Out
Operating Expenditures
530100 Professional Services
530300 Other Contractual Services
540300 Telephone Variable
540700 Postal Service
542200 Electric - Utility Charges
542500 Postage
543100 Advertising
543200 Other Promotional Activities
543400 Printing & Binding
544100 Equipment Rental
547100 Uniforms
547200 Employee Expense - Travel
547300 Mileage Reimbursement
548000 Other Services
550100 Office Supplies
550400 Operating Supplies
557100 Memberships and Subscriptions
557300 Training and Reference
561400 Appraisal Fees
581000 Payments to Other Agencies -DDB
581000 Payments to Other Agencies - Blast Friday
582000 Aid to Private Organizations
Total Operating Expenditures
Transfers Out
590200 General Fund- Administrative
590800 Library Activation Project (94887)
590800 East Gateway Project (94849)
590800 Cleveland Street Maintenance (99968)
590800 Economic Development Incentives (94963)
590800 Restricted County TIF Funds
590800 Downtown Redevelopment (94714)
Total Transfers Out
Total Expenditures & Transfers Out
Excess of Revenues & Transfers In Over
Expenditures & Transfers Out
2,186,765 31,023
2,203,094
60,000 11,550 (3,300)
1,300
250
1,000
200
5,000
5,000
2,500
2,000
150
6,000
1,500
2,000
2,000
3,000
2,500
6,000
913
144
7
1,165
266
593
1,391 (1,000)
21
512
239
3,430 1,000
2,021
525
3,300
173,273 173,218
100,000
273,673 299,295
3,300
(55)
100,000
99,945
56,700 4
1,300
250
1,000
200
5,000
5,000
2,500
2,000
150
5,000 4
1,500
2,000
2,000
4,000 4
2,500
6,000
3,300 4
173,218 1
100,000 5
373,618
461,281
99,600
171,597
25,000
50,000
958,325
132,595
1,898,398
320,961
99,600
171,597 (302)
25,000
50,000
958,325
132,595 (68,620)
1,758,078 (68,922)
461,281
99,600
171,295 6
25,000
50,000
958,325
63,975 7
1,829,476
2,172,071 2,057,373 31,023
2,203,094
129,392
Budget Amendments to Operating Budget
1 To adjust budgeted revenue to actual TIF receipts, and adjust the related payment to the DDB to
2 To adjust budgeted interest revenue to actual receipts to date.
3 To adjust miscellaneous other revenue to actual receipts to date.
4 To adjust the budget to reflect actual expenditures to date.
To increase payment to agencies by $100,000 to fund the grant to Clearwater Downtown Events,
5 the CRA on November 2, 2015.
To reduce the budget transfer of Restricted County TIF funds to the East Gateway project by $
6 for the loss in tax increment financing.
To reduce the budget transfer to the Downtown Redevelopment project by $100,000 to fund the
Downtown Events, Inc for Blast Friday as approved by the CRA on November 2, 2015 (item
compensate for the loss in tax increment financing (item 1) net of the miscellaneous revenue
7 above (items 2 and 3).
match actual receipts.
Inc as approved by
302 to compensate
grant to Clearwater
5); and by $292 to
amendments noted
Community Redevelopment Agency
CRA Capital Improvement Project Fund
Year End Review
For the Nine Month Period of October 1, 2015 - June 30, 2016
Project Amendments
Project Budget
# Description 10/1/2015
388 -92839 Downtown Intermodal 46,078
388 -94714 Downtown Redevelopment 1,585,964
388 -94765 IMR Development 99,271
388 -94847 Clearwater Centre -1100 Cleveland 620,000
388-94849 East Gateway 2,578,193
388 -94851 Affordable Housing 250,000
388-94852 Retail Attraction /Assistance 435,000
388 -94853 Cleveland District Branding 201,000
388 -94856 Marriott Residence Inn 296,391
388 -94859 Station Square Development 460,000
388 -94862 Car Pro Site 325,000
388 -94866 Economy Inn Debt 1,428,000
388 -94868 Economy Inn Demolition 227,473
388 -94872 Technology District Incentives 300,000
388 -94884 Property Acquisition 1356 Park Street 65,000
388 -94885 ULI Implementation 1,000,000
388 -94887 Library Activation 99,600
388 -99963 Economic Development Incentive 203,861
388 -99968 Cleveland Street Maintenance 162,676
388 -99979 Historical Facade Program 262,165
388 -99881 Clearwater Auto Site - General 187,659
388 -99986 Mediterranean Village 259,538
Mid Year Actual Expenditures
Amended Project Open Available Amend
ientlments Budget To Date Encumbr Balance Status Ref
46,078 0 46,078
1,201,011 2,786,975 613,558 2,173,417 1,2
(25,000) 74,271 4,660 69,611 5
620,000 505,917 114,083
(7,302) 2,570,891 1,377,449 24,555 1,168,887 3,4
250,000 0 250,000
435,000 327,550 23,057 84,393
201,000 88,655 112,345
296,391 227,617 68,774
460,000 0 460,000
25,000 350,000 314,652 35,348 5
1,428,000 1,008,248 419,752
7,000 234,473 143,523 90,950 4
300,000 34,250 25,000 240,750
65,000 64,084 917
1,000,000 1,000,000
99,600 56,990 42,610
203,861 72,765 131,096
162,676 60,519 102,156
262,165 99,947 162,218
187,659 7,167 180,492
259,538 96,431 163,107
Total 11,092,868 1,200,709 12,293,577 5,103,981 72,612 7,116,984
Budget Amendments to Projects
To decrease the budget transfer to the Downtown Redevelopment project by $68,620 representing a decrease of $100,000 to provide funding for the grant to
Clearwater Downtown Events, Inc for Blast Friday as approved by the CRA on November 2, 2015; and by $292 due to the reduction in tax increment receipts,
and increases of $30,022 in interest earnings and $1,650 in other revenues in the operating budget for the fiscal year, and to adjust for the amendments noted
1 below (item2).
To increase the budget by a net total of $1,269,630.65 representing prior year excess cash. This will bring the budget in line with actual cash received in the
2 project.
To reduce the budgeted transfer by $302 due to the reduction in County tax increment receipts in the operating fund for the fiscal year, and adjust for the
3 amendment below (item 3).
To transfer $7,000 from 388 - 94848, East Gateway, to project 388- 94868, Economy Inn Acquisition/Demolition to provide additional funding necessary for
4 property acquisition as approved by the CRA on June 13, 2016.
5 To transfer $25,000 from 388- 94765, IMR Development, to project 388- 94862, CarPro Site to provide funding necessary for year five monitoring.