25-03RESOLUTION NO 25-03
A RESOLUTION OF THE COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF CLEARWATER, FLORIDA,
ADOPTING THE THIRD QUARTER AMENDMENTS TO THE
NORTH GREENWOOD 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 NORTH GREENWOOD 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
Chairman
Approved as to form:
l
L/m /ILA
David Margolis
CRA Attorney
Resolution 25-03 Third
Quarter Budget Amendments
Attest:
Rosemarie Call
City Clerk
1
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ATF ;on~
Community Redevelopment Agency
Exhibit A
Third Quarter Budget Review for Fiscal Year 2024/25- North Greenwood
2024-25
Revenue/
3rd Quarter
Approved
Expenditures
Proposed
Amended
Amend
Budget
To Date
Amendments
Budget
Ref
Revenues & Transfers In
Tax Increment Financing Revenues
338930
Pinellas County Increment
387,226
374,290
$ (12,936.00)
374,290
1
381115
City Of Clearwater
473,000
471,343
$ (1,657.00)
471,343
1
Total TIF Revenues
860,226
845,633
(14,593)
845,633
Other Revenues
361101
Interest Earnings
67,603
67,603
67,603
2
Total Revenues & Transfers In
860,226
913,236
53,010
913,236
Expenditures &
Transfers Out
Operating Expenditures
530100
Professional Services
50,000
(1,657)
48,343
3
540700
Postal Service
250
250
541600
Building & Maintenance Variable
1,000
1,000
542500
Postage
250
250
543100
Advertising
5,000
5,000
543400
Printing & Binding
3,000
3,000
547300
Milage Reimbursement
574
574
548000
Other Services
3,000
3,000
550100
Office Supplies
2,500
320
2,500
550400
Operating Supplies
1,000
800
1,000
557100
Memberships and Subscriptions
2,000
2,000
557300
Training and Reference
2,500
2,500
Total Operating Expenditures
71,074
1,120
(1,657)
69,417
Transfers Out
590200
General Fund- Administrative
91,558
91,55891,558
590800
Housing- City (R2406)
-
-
590800
Housing County (R2407) 363,386 363,386 - 363,386
590800[Mobility-City
(R2408) 94,599 94,559 67,603 162,202 4
590800
Mobility- County (R2409) 109,613 109,613 (12,936) 96,677 4
590800
_
Economic Development -City (R2502)
129,996
129,996
129,996
Total Transfers Out
789,152
789,112
54,667
843,819
Total Expenditures & Transfers Out
860,226
790,232
53,010
913,236
Budget 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.
i
Community Redevelopment Agency
Capital Improvement Project Fund
Third Quarter Budget Review for Fiscal Year 2024/25
Project
Description
3rd Quarter Actual Expenditures
Approved Proposed Amended Project Open Available Amend
Budget Amendments Budget To Date Encumb Balance Ref
R2401 Residential Improvement Program 500,000.00 26,410.89 526,410.89 84,273.66 42,537.34 399,599.89 1
R2404 Business Improvement Program 1,110,000.00 58,103.95 1,168,103.95 104,779.36 111,871.31 951,453.28 2
R2403 Calrton Ave Rehab 500,000.00 26,410.89 526,410.89 3,598.25 522,812.64 3
R2404 Public Infrastructure 700,000.00 36,975.24 736,975.24 - 736,975.24 4
R2405 Public Art & Culture 200,000.00 10,564.35 210,564.35 210,564.35 5
R2406 Housing- City 76,422.00 76,422.00 - 76,422.00
R2407 Housing- County 441,707.00 441,707.00 441,707.00
R2408 Mobility- City 94,599.00 67,603.00 162,202.00 162,202.00 6
R2409 Mobility- County 187,933.00 (12,936.00) 174,997.00 - 174,997.00 7
R2502 Economic Development- City 129,996.00 112,200.46 242,196.46 - 242,196.46 8
Total
Budget Amendments to Projects
3,940,657.00 325,332.78 4,265,989.78 192,651.27 154,409 3,918,929.86
1 To record an increase of $26,410.89 of prior year interest earnings to bring the budget in line with actual revenues.
2 To record an increase of $58,103.95 of prior year interest earnings to bring the budget in line with actual revenues.
3 To record an increase of $26,410.89 of prior year interest earnings to bring the budget in line with actual revenues.
4 To record an increase of $36,975.24 of prior year interest earnings to bring the budget in line with actual revenues.
5 To record an increase of $10,564.35 of prior year interest earnings to bring the budget in line with actual revenues.
6 To record an increase of $67,603 from interest earnings to balance the operating budget as amended.
7 To record a decrease of $12,936 in County increment received to balance the operating budget as amended.
To record an increase of $112,200.46 in TIF revenue transferred as part of prior year end closing to bring the budget in line with the revenues
8 received