25-01RESOLUTION NO 25-01
A RESOLUTION OF THE COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF CLEARWATER, FLORIDA,
ADOPTING THE THIRD QUARTER AMENDMENTS TO THE
DOWNTOWN CRA FY 2024/2025 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
2024/2025 DOWNTOWN CRA Operating Budget as outlined on Exhibit A.
Section 2. This resolution shall take effect immediately upon adoption.
PASSED AND ADOPTED this 15th day of September 2025.
Bruce Re
Chairman
Approved as to form:
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David Margolis
CRA Attorney
Resolution 25-01 DT CRA Third
Quarter Budget Amendments
Attest:
Rosemarie Call
City Clerk
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Community Redevelopment Agency
Exhibit A
Third Quarter Budget Review for Fiscal Year 2024/25
6,124,447
77,373
6,276,710
2024-25
Revenue/
3rd Quarter
6,945,014
6,550,304
75,621
Approved
Expenditures
Proposed
Amended
Amend
Budget
To Date
Amendments
Budget
Ref
Revenues & Transfers In
ludget Amendments to Operating Budget
Tax Increment Financing Revenues
1
To adjust budgeted revenue to actual Increment receipts.
338930
Pinellas County Increment
2,779,393
2,692,656
$ (86,737.00)
2,692,656
1
338935
Downtown Development Board
381,027
379,275
$ (1,752.00)
379,275
1
Total TIF Revenues
3,160,420
3,071,931
(88,489)
3,071,931
Other Revenues
361101
Interest Earnings
300,000
467,783
167,783
467,783
2
Transfers In
-
381115
City of Clearwater Increment
3,397,285
3,393,612
(3,673)
3,393,612
1
381782
DDB Administration
87,309
87,309
87,309
Total Revenues & Transfers In
6,945,014
7,020,635
75,621
7,020,635
Expenditures & Transfers Out
Operating Expenditures
530100
Professional Services
250,000
21,875
(3,842)
246,158
3
530300
Contractual Services
25,000
184
25,000
530500
Maintenance Contract - 842 842 842 3
540300
Telephone Service Charges - Variable 3,950 2,360 3,950
540700
Postal Service 500 123 500
541600
Building & Maintenance Variable 2,000 - 2,000
542500
Postage 200 - 200
543100
Advertising 25,000 5,865 25,000
543400
Printing & Binding 5,000 893 5,000
544100
Equipment Rental 5,000 2,105 5,000
547100
Uniforms 2,000 - 2,000
547200
Employee Expense -Travel 15,000 1,623 15,000
547300
Milage Reimbursement 3,000 - 3,000
548000
Other Services 1,000 3,711 3,000 4,000 3
550100
Office Supplies 3,000 1,568 3,000
550400
Operating Supplies 3,000 504 3,000
557100
Memberships and Subscriptions 6,000 3,509 6,000
557300
Training and Reference 15,000 1,420 15,000
581000
Payments to Other Agencies -DDB 381,027 379,275 (1,752) 379,275
Total Operating Expenditures 745,677 425,857 (1,752) 743,925
rensfers Out
590200
590800
590800
590800
590800
590800
590800
General Fund- Administrative
1,060,401
985,511
1,060,401
Community Policing (R2001)
257,493
257,493
Economic Development- City (R2003)
Economic Development- County (R2004)
Infrastructure- City (R2005)
Housing- City (R2009)
Housing- County (R2010)
900,000
791,844
410,206
2,779,393
900,000
791,844
410,206
2,779,393
164,110
86,737
257,493
1,064,110
791,844
410,206
2,692,656
4
Total Transfers Out
6,199,337
6,124,447
77,373
6,276,710
Total Expenditures & Transfers Out
6,945,014
6,550,304
75,621
7,020,635
ludget Amendments to Operating Budget
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.
1
Community Redevelopment Agency
Capital Improvement Project Fund
Third Quarter Budget Review for Fiscal Year 2024/25
Project
Description
C2105 Mercado -Downtown Gateway
R2001 Community Policing
R2002 Community Engagement
R2003 Economic Development- City
R2004 Economic Development- County
R2005 Infrastructure- City
R2006 Infrastructure- County
R2007 Transportation -City
R2008 Transportation- County
R2009 Housing- City
R2010 Housing- County
R2501 Bluff Development
Total
Budget Amendments to Projects
3rd Quarter Actual Expenditures
Approved Proposed Amended Project Open Available Amend
Budget Amendments Budget To Date Encumb Balance Ref
992,795.00 15,000.00 1,007,795.00 1,007,795.00 - 1
1,284,389.00 1,284,389.00 1,229,597.96 54,791.04
1,836,551.17 1,836,551.17 1,545,093.11 12,500.00 278,958.06
4,637,959.60 1,268,625.39 5,906,584.99 3,537,172.03 461,087.43 1,908,325.53 2
2,019,421.65 2,019,421.65 1,491,769.91 272,437.00 255,214.74
1,143,508.32 167,858.00 1,311,366.32 687,423.97 623,942.35 3
2,870,000.00 2,870,000.00 2,369,743.50 500,256,50
197,629.00 197,629.00 0.00 197,629.00
1,258,508.03 1,258,508.03 0.00 1,258,508.03
533,496.00 533,496.00 0.00 533,496.00
9,366,903.99 (86,737.00) 9,280,166.99 3,751,250.00 1,250,000.00 4,278,916.99 4
4,750,000.00 4,750,000.00 285,687.00 4,464,313.00
30,891,161.76 1,364,746.39 32,255,908.15 15,905,532.48 1,996,024.43 14,354,351.24
To record a budget increase of $10,000 to recognize a transfer from Arts and Culture for their portion of the Mercado public art and an
1 increase of 55,000 in City increment revenue transferred from the closure of the City's Downtown Intermodal project.
To record a net budget increase of 51,268,625.39 representing the following amendments:
1) a decrease of 53,673 in City increment revenue and an increase of $167,783 from interest earnings to balance the operating budget as
amended; 2) an increase of 51,063,437.39 in TIF revenue transferred as part of prior year end closing to bring the budget in line with the
2 revenues received; and 3) an increase of 541,078 in City increment revenue from the closure of the City's Downtown Intermodal Project.
3 To record an increase of 5167,858 in reimbursement from PSTA received for their portion of utility undergrounding on Myrtle Avenue.
4 To record a decrease of $86,737 in County increment received to balance the operating budget as amended.