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23-02
RESOLUTION NO 23-02 A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF CLEARWATER, FLORIDA, ADOPTING THE CRA FY 2023/2024 ANNUAL OPERATING BUDGET; PROVIDING AN EFFECTIVE DATE. WHEREAS, the Community Redevelopment Agency (CRA) annual budget requirements have been clarified and Section 189.016(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 FY 2023/2024 CRA Operating Budget as outlined on Exhibit A. Section 2. This resolution shall take effect immediately upon adoption. PASSED AND ADOPTED this 18th day of September 2023. Brian J. Aun Chairman Approved as to form: C:1;/ David Margolis CRA Attorney Attest: ttar2u: 041% Rosemarie Call City Clerk ,o�vARwM� '''. �' CORPORAL y`rZ3 o SEAL :1°° V 'y ,i• Community Redevelopment Agency Preliminary Budget October 1, 2023- September 30, 2024 Exhibit A 2022-2023 2023-2024 Amended Preliminary Budget Budget Revenues & Transfers In Tax Increment Financing Revenues 338930 Pinellas County 2,302,789 2,581,329 381115 City of Clearwater 2,810,526 3,150,281 338935 Downtown Development Board 335,643 363,012 Total TIF Revenues 5,448,958 6,094,622 Other Revenues 361101 Interest Earnings 90,019 265,000 Transfers In 369906 Reimbursement -DDB Administration 81,504 84,357 Total Revenues & Transfers In 5,620,481 6,443,979 Expenditures & Transfers Out Operating Expenditures 530100 Professional Services 116,704 125,000 530300 Contractual Services 50,000 50,000 540300 Telephone Variable 3,000 2,000 540200 Postal Service 5,000 5,000 541000 City Internal Services - 541600 Building & Maintenance Variable 2,000 1,000 542500 Postage 200 200 543100 Advertising 20,000 20,000 543200 Other Promotional Activities 5,000 5,000 543400 Printing & Binding 2,500 2,500 544100 Equipment Rental 5,000 3,000 547100 Uniforms 1,000 2,000 547200 Employee Expense -Travel 10,000 15,000 547300 Milage Reimbursement 1,500 3,000 548000 Other Services 3,500 3,000 549000 Relocation Expenses 3,000 - 550100 Office Supplies 3,000 3,000 550400 Operating Supplies 1,500 1,500 557100 Memberships and Subscriptions 6,000 6,000 557200 Official Recognition 296 - 557300 Training and Reference 15,000 15,000 581000 Payments to Other Agencies -DDB 335,643 363,012 Total Operating Expenditures 589,843 625,212 Transfers Out 590200 General Fund- Administrative 691,422 982,526 590800 Community Policing (R2001) 266,703 257,643 590800 Community Engagements (R2002) 250,000 590800 590800 590800 590800 590800 590800 590800 590800 Economic Development- City (R2003) Economic Development- County (R2004) Infrastructure- City (R2005) Infrastructure- County (R2006) Transportation- City (R2007) Transportation- County (R2008) Housing- City (R2009) Housing- County (R2010) Total Transfers Out 1,769,724 250,000 - 352,789 1,700,000 500,000 250,000 100,000 . 250,000 1,147,269 2,081,329 5,030,638 5,818,767 Total Expenditures & Transfers Out 5,620,481 6,443,979 CRA - Projections for CIP 6 -Year Plan 2022-23 Amended Budget 2023-24 Estimated Budget 2024-25 Estimated Budget 2025-26 Estimated Budget 2026-27 Estimated Budget County TIF 2,302,789.00 2,581,329.00 12% 2,658,769.00 3% 2,738,532.00 2,820,688.00 City TIF 2,810,526.00 3,150,281.00 12% 3,244,789.00 3% 3,342,133.00 3,442,397.00 DDB 335,643.00 363,012.00 8% 373,902.00 3% 385,119.00 396,673.00 5,448,958.00 6,094,622.00 6,277,460.00 6,465,784.00 6,659,758.00 Other Revenue: Interest DDB Reimbursement Growth Factors Revenue 2023/24 3.0% 2024/25 3.0% 2025/26 3.0% 2026/27 3.0% 2027/28 3.0% 2028/29 3.0% Operating Expenditures: regular Operating Payment to DDB Transfers: GF Admin Community Policing Transfers to Capital (CITY) Transfers to Capital (County) Growth Factors Operating % Personnel 5.0% Operating Expenses 2.0% 2027-28 Estimated Budget 2,905,309.00 3,545,669.00 408,573.00 6,859,551.00 Page 1 2028-29 Estimated Budget 2,992,468.00 3,652,039.00 420,830.00 7,065,337.00 90,019.00 265,000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 81,504.18 84,357.00 88,570.00 93,000.00 97,650.00 102,530.00 107,660.00 $ 5,620,481 2022-23 Amended Budget 254,200.00 335,643.00 691,422.00 266,703.00 1,769,724.00 2,302,789.00 5,620,481.00 6,443,979.00 6,566,030.00 6,758,784.00 6,957,408.00 2023-24 Estimated Budget 262,200.00 363,012.00 982,526.00 257,643.00 1,997,269.00 2,581,329.00 2024-25 Estimated Budget 267,440.00 373,902.00 1,031,650.00 270,530.00 1,963,739.00 2,658,769.00 6,443,979.00 6,566,030.00 2025-26 Estimated Budget 272,790.00 385,119.00 1,083,230.00 284,060.00 1,995,053.00 2,738,532.00 2026-27 Estimated Budget 278,250.00 396,673.00 1,137, 390.00 298,260.00 2,026,147.00 2,820,688.00 7,162,081.00 7,372,997.00 2027-28 Estimated Budget 283,820.00 408,573.00 1,194,260.00 313,170.00 2,056,949.00 2,905,309.00 2028-29 Estimated Budget 289,500.00 420,830.00 1,253,970.00 328,830.00 2,087,399.00 2,992,468.00 6,758,784.00 6,957,408.00 7,162,081.00 7,372,997.00 Capital Projects: Page 2 2022-2023 % of revenue 2023-24 % of revenue 2024-25 % of revenue 2025-26 % of revenue 2026-27 % of revenue 2027-28 % of revenue 2028-29 Amended Budget Estimated Budget Estimated Budget Estimated Budget Estimated Budget Estimated Budget Estimated Budget R2001- Community Policing R2002 - Community Engagement R2003 - Economic Development- City R2004 - Economk Development- County R2005 - Infrastructure- City R2006 - Infrastructure- County R2007 - Transportation -City R2008 - Transportation- County R2009 - Housing- City R2010 - Housing- County 266,703.00 257,643.00 PD 13% 250,000.00 15% 1,769,724.00 25% 500,000.00 20% 9.7% 250,000.00 10% 0% 5% 0% 5% 5% 100,000.00 5% 352,789.00 9.7% 250,000.00 10% 57% 1,147,269.00 55% 1,700,000.00 80.6% 2,081,329.00 75% 270,530.00 294,561.00 392,748.00 265,877.00 98,187.00 132,938.00 98,187.00 257,500.00 1,080,056.00 1,994,077.00 PD 25% 25% 25% 5% 5% 5% 10% 40% 60% 284,060.00 498,763.00 498,763.00 684,633.00 99,753.00 136,927.00 99,753.00 273,853.00 798,021.00 1,643,119.00 PD 25% 25% 25% 5% 5% 5% 10% 40% 60% 298,260.00 506,537.00 506,537.00 705,172.00 101,307.00 141,034.00 101,307.00 282,069.00 810,459.00 1,692,413.00 PO 25% 25% 25% 5% 5% 5% 10% 40% 60% 514,237 514,237 726,327 102,847 145,265 102,847 290,531 822,780 1,743,185 PD 25% 25% 25% 5% 5% 5% 10% 40% 60% 514,237 514,237 726,327 102,847 145,265 102,847 290,531 822,780 1,743,185 Total City: 1,769,724.00 1,997,269.00 100% 1,963,739.00 100% 1,995,053.00 100% 2,026,147.00 100% 2,056,949 100% 2,056,949 Total County: 2,052,789.00 2,581,329.00 100% 2,650,392.00 100% 2,738,532.00 100% 2,820,688.00 100% 2,905,309 100% 2,905,309