HomeMy WebLinkAboutResolution No. CRA-02 RESOLUTION NO. CRA-02
A RESOLUTION OF THE CITY OF CAPE CANAVERAL
COMMUNITY REDEVELOPMENT AGENCY
ADOPTING A BUDGET FOR THE CAPE CANAVERAL
COMMUNITY REDEVELOPMENT AGENCY FOR
FISCAL YEAR 2015-16; PROVIDING FOR REPEAL OF
PRIOR INCONSISTENT RESOLUTIONS; PROVIDING
FOR SEVERABILITY; PROVIDING FOR AN
EFFECTIVE DATE.
WHEREAS,the City Council of the City of Cape Canaveral, Florida adopted Resolution
2012-16, creating the Cape Canaveral Community Redevelopment Agency ("CRA"),pursuant to
Part III, Chapter 163, Florida Statutes; and
WHEREAS, the CRA is a dependent special district under Chapter 189, Florida Statutes,
known as the Uniform Special District Accountability Act of 1989 ("Act"); and
WHEREAS, the Act requires all special districts, including dependent special districts
such as the CRA, to adopt a budget for each fiscal year by resolution; and
WHEREAS, the Cape Canaveral Community Redevelopment Agency desires to comply
with the requirements of the Act and takes this action in order to do so; and
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD MEMBERS OF THE
CAPE CANAVERAL COMMUNITY REDEVELOPMENT AGENCY,AS FOLLOWS:
Section 1. Recitals. The foregoing recitals are deemed true and correct and are hereby fully
incorporated herein by this reference and are deemed a material part of this Resolution.
Section 2. Adoption of Budget. The Board Members of the Cape Canaveral Community
Redevelopment Agency do hereby approve and adopt a budget attached hereto as Exhibit"A"for
the CRA for Fiscal Year 2015-16; beginning October 1, 2015 and ending September 30, 2016.
Section 3. Repeal of Prior Inconsistent Resolutions. All prior resolutions or parts of
resolutions in conflict herewith are hereby repealed to the extent of the conflict.
Section 4. Severability. If any section, subsection, sentence, clause,phrase or portion of this
resolution is for any reason held invalid or unconstitutional by any court of competent jurisdiction,
such portion shall be deemed a separate,distinct and independent provision and such holding shall
not affect the validity of the remaining portion hereto.
Cape Canaveral Community Redevelopment Agency
Resolution No.CRA-02
Page 1 of 2
Section 5. Effective Date. This Resolution shall become effective immediately upon
adoption by the Board Members of the Cape Canaveral Community Redevelopment Agency.
ADOPTED at a Special Meeting of the Board Members of the Cape Canaveral Community
Redevelopment Agency this 8th day of September, 2015.
0 Cu %,ik C-T•sTe-e-S-3C4/94L_
ATTEST: ROCKY RANDELS, Chairperson
Ang a Apperson, e ording Secretary
Name For Against
John Bond x
Robert Hoog X
Buzz Petsos Motion
Rocky Randels x
Betty Walsh Second
Approved as to legal form and sufficiency for
Cape . aval Community Redevelopment
A_en• • 1r.
A . .r., 1' to ` 6At it , -Poi
�� * Attar: a <se, Attorney for t e
"fie I' .naveral Community Redevelopment Agency
Cape Canaveral Community Redevelopment Agency
Resolution No. CRA-02
Page 2 of 2
Exhibit "A" Resolution No. CRA-02
Cape Canaveral Community Redevelopment Agency Page 1 of 2
The Community Redevelopment Plan was developed in FY12-13.The Projects in the Plan are funded with TIF revenues deposited in the
Trust Fund to encourage development/redevelopment; financial incentives to developers and businesses; and financing of capital
improvement projects.
The City loaned the Community Redevelopment Agency$100K to initially fund the CRA. The City will be reimbursed by the Agency in
annual equal installments amortized over 10 years.The first installment was due the City on October 31,2014.Subsequent installments are
due each year on October 31st until the note is paid in full.The annual interest rate is set at 2%.
This past summer, the City completed the regional Lift Station Project which included easement and waterline extension work located
within the CRA partially funded by the Wastewater Fund. It is anticipated the CRA Board will approve the repayment of$470,000 to the
Wastewater Fund at its September 2015 meeting. The first payment is due January 31st, 2016 and subsequent installments are due each
year thereafter on January 31st until the loan is paid in full.The annual interest rate is set at 2%.
Capital Outlay Detail
FY 14/15 FY 15/16
Grant Programs $ - $ -
Capital Initiatives 12,741 -
Mobility/Striping Project 14,795 140,000
Oak Lane Improvements 95,089 -
$ 122,625 $ 140,000
Debt Repayment Schedule
General Fund Loan$100K Wastewater Loan$470K
Principal Interest Principal Interest
FY 16-17 $ 9,498 $ 1,635 $ 43,908 $ 8,416
FY 17-18 9,688 1,445 44,786 7,538
FY 18-19 9,882 1,251 45,682 6,642
FY 19-20 10,080 1,053 46,596 5,728
FY 20-21 10,281 852 47,527 4,797
FY 21-22 10,487 646 48,478 3,846
FY 22-23 10,697 436 49,448 2,876
FY 23-24 10,888 222 50,436 1,887
FY 24-25 - - 43,047 879
Exhibit"A"Resolution No.CRA-02
Budget Detail Page 2 of 2
Cape Canaveral Community Redevelopment Agency
Fund 106-Dept 016
2012-2013 2013-2014 2014-2015 2014-2015 2015-2016 %
Actual Actual Original Projected Adopted Inc/Dec
Revenue
106-000-300-300100 Cash Forward - - 36,197 13,665 - -100%
106-000-338-338000 Shared Revenue fr Cape Canaveral - - 55,330 55,330 113,353 105%
106-000-338-338001 Shared Revenue fr Brevard Cnty - - 70,000 70,810 148,209 109%
106-000-361-361100 Interest From Investment - - 501 - 501 100%
106-000-361-361310 Net Increase(decrease)in FMV - - - - - 0%
106-000-381-381001 Transfer from General Fund - - - - - 0%
Total Revenue S - S - S 162,028 S 139,805 S 262,063 87%
Operating
106-016-559-310000 Legal Fees - - 1,000 595 1,000 68%
106-016-559-310001 Administratvie Fees - - 1,000 175 1,000 471%
106-016-559-400000 Travel&Per Diem - - 644 - 644 100%
106-016-559-450000 Insurance - - 5,000 4,287 5,000 17%
106-016-559-520000 Operating Supplies - - - - - 0%
106-016-559-540000 Membership&Training - - 1,095 990 1,095 11%
Total Operating - - 8,739 6,047 8,739 45%
Capital Outlay
106-016-559-630000 Grant Programs - - 10,962 - - 0%
106-016-559.630001 Capital Initiatives - - 12,500 12,741 - -100%
106-016-559-630002 Mobility/Striping Project - - - 14,795 140,000 846%
106-016559-630003 Oak Lane Improvements - - - 95,089 - -100%
Total Capital Outlay - - 23,462 122,625 140,000 14%
Debt Service
106-016-559-710000 Debt Service-Prinicpal - - 8,966 8,966 58,181 549%
106-016-559-720000 Debt Service-Interest - - 2,167 2,167 5,275 143%
Total Debt Service - - 11,133 11,133 63,456 470%
Other Expenses
106-016-581-910001 Transfer to General Fund - - - - 0%
106-016-581-910304 Transfer to N.Atl Ave Imp.Fund 113,694 - 0%
Total Other Expenses - - 113,694 - 0%
Contingency
106-016-559-990000 Contingency - - 5,000 - 49,868 100%
Total Contingency - • 5,000 - 49,868 100%
Total Community Redevelopment Agency Fund Budget S - S - S 162,028 S 139,805 S 262,063 87%