24-02RESOLUTION NO 24-02
A RESOLUTION OF THE COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF CLEARWATER, FLORIDA,
ADOPTING THE THIRD QUARTER BUDGET
AMENDMENTS FOR THE DOWNTOWN 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 THIRD QUARTER BUDGET AMENDMENTS TO THE FY
2023/2024 DOWNTOWN CRA Operating Budget as outlined on Exhibit A.
Section 2. This resolution shall take effect immediately upon adoption.
PASSED AND ADOPTED this 12th day of August 2024.
Bruce Re or
Chairman
Approved as to form:
a,„/
David Margolis
CRA Attorney
Resolution 24-02 DT CRA Third
Quarter Budget Amendments
Attest:
aci
Rosemarie Call
City Clerk
Community Redevelopment Agency
Exhibit A
Third Quarter Budget Review for Fiscal Year 2023/24
2023-24
Approved
Budget
Revenue/
Expenditures
To Date
Proposed
Amendments
3rd Quarter
Amended
Budget
Amend
Ref
Revenues & Transfers In
Tax Increment Financing Revenues
338930 Pinellas County Increment
338935 Downtown Development Board
Total TIF Revenues
Other Revenues
361101 Interest Earnings
Transfers In
381115 City of Clearwater Increment
381782 DDB Administration
Total Revenues & Transfers In
Expenditures & Transfers Out
Operating Expenditures
530100 Professional Services
530300 Contractual Services
540300 Telephone Service Charges - Variable
540700 Postal Service
541600 Building & Maintenance Variable
542500 Postage
543100 Advertising
543200 Other Promotional Activities
543400 Printing & Binding
544100 Equipment Rental
547100 Uniforms
547200 Employee Expense -Travel
547300 Milage Reimbursement
548000 Other Services
548700 Relocation Expenses
550100 Office Supplies
550400 Operating Supplies
557100 Memberships and Subscriptions
557200 Official Recognition
557300 Training and Reference
581000 Payments to Other Agencies -DDB
Total Operating Expenditures
Transfers Out
590200
590800
590800
590800
590800
590800
590800
590800
590800
590800
590800
General Fund- Administrative
Community Policing (R2001)
Community Engagements (R2002)
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
Total Expenditures & Transfers Out
Budget Amendments to Operating Budget
2,581,329
363,012
2,577,489 $
363,521 $
(3,840)
509
2,577,489 1
363,521 1
2,944,341
265,000
3,150,281
84,357
2,941,010
312,673
3,150,489
(3,331)
47,673
208
2,941,010
312,673 2
3,150,489 1
84,357
6,443,979
6,404,172
44,550
6,488,529
125,000
50,000
2,000
5,000
1,000
200
20,000
5,000
2,500
3,000
2,000
15,000
3,000
3,000
3,000
1,500
6,000
15,000
363,012
47,200
14
2,579
174
1,935
530
(50)
1,367
4,115
5,048
313
2,053
128
1,869
1,980
363,521
(4,500)
1,000
1,000
2,500
509
120,500 3
50,000
3,000 3
5,000
2,000 3
200
20,000
5,000
2,500
5,500 3
2,000
15,000
3,000
3,000
3,000
1,500
6,000
15,000
363,521
625,212
432,775
509
625,721
982,526
257,643
250,000
500,000
250,000
532,567
266,703
250,000
500,000
250,000
47,881
(3,840)
100,000
250,000
1,147,269
2,081,329
5,818,767
100,000
250,000
1,147,091
2,290,301
5,586,662
44,041
982,526
257,643
250,000
547,881 4
246,160 4
100,000
250,000
1,147,269
2,081,329
5,862,808
6,443,979
6,019,438
44,550
6,488,529
1 To adjust budgeted revenue to actual Increment receipts.
2 To adjust the budget to reflect anticipated revenues for the year.
3 To adjust the budget to reflect actual and anticipated expenditures for the fiscal year.
4 To adjust funding in transfers to capital to adjust for actual Increment received.
Community Redevelopment Agency
Capital Improvement Project Fund
Third Quarter Budget Review for Fiscal Year 2023/24
3rd Quarter Actual Expenditures
Project Approved Proposed Amended Project Open Available Amend
p Description Budget Amendments Budget To Date Encumber Balance Ref
C2105 Mercado -Downtown Gateway 992,795.00 992,795.00 932,795.00 60,000.00 -
R2001 Community Policing 1,026,896.00 1,026,896.00 947,163.96 79,732.04
R2002 Community Engagement 1,836,551.17 1,836,551.17 1,513,266.67 25,000.00 298,284.50
R2003 Economic Development- City 5,577,461.14 (1,839,501.54) 3,737,959.60 2,329,443.25 182,951.99 1,225,564.36 1, 2,3
R2004 Economic Development -County 2,023,261.85 (3,840.20) 2,019,421.65 1,491,769.91 121,000.00 406,651.74 4
R2005 Infrastructure- City 351,664.32 351,664.32 14,977.56 336,686.76
R2006 Infrastructure- County 2,870,000.00 2,870,000.00 2,369,743.50 500,256.50
R2007 Transportation -City 197,629.00 197,629.00 197,629.00
R2008 Transportation- County 1,258,508.03 1,258,508.03 - 1,258,508.03
R2009 Housing -City 2,623,290.00 (2,500,000.00) 123,290.00 123,290.00 5
R2010 Housing- County 6,587,510.99 6,587,510.99 501,250.00 2,500,000.00 3,586,260.99
R2501 Bluff Development - 4,750,000.00 4,750,000.00 4,750,000.00 6
Total 25,345,567.50 406,658.26 25,752,225.76 10,100,409.85 2,888,951.99 12,762,863.92
Budget Amendments to Projects
To recognize a transfer out of $2,250,000 of City TIF revenues transferred to new project R2501, Bluff Development. This represents $1,500,000 for
1 impact fees, and $750,000 for Gotham development as outlined in the development agreement.
To record a budget increase of $47,881.20 representing $208.20 of City TIF revenue and $47,673 of interest earnings to adjust for actual revenues
2 received for the year.
To record a budget increase of $362,617.26 in TIF revenues transferred as part of prior year end closing. This will bring the budget in line with the
3 revenues received.
4 To record a budget decrease of $3,840.20 in County TIF revenues.
5 To recognize a transfer of $2,500,000 City TIF revenues to new project R2501, Bluff Development.