HomeMy WebLinkAboutcocc_resolution_no_cra-07_20190917RESOLUTION NO. CRA-07
A RESOLUTION OF THE CITY OF CAPE CANAVERAL
COMMUNITY REDEVELOPMENT AGENCY; ADOPTING
A BUDGET FOR THE CAPE CANAVERAL COMMUNITY
REDEVELOPMENT AGENCY FOR FISCAL YEAR
2019/20; PROVIDING FOR THE REPEAL OF PRIOR
INCONSISTENT RESOLUTIONS, SEVERABILITY AND
AN EFFECTIVE DATE.
WHEREAS, the City Council of the City of Cape Canaveral, Florida adopted Resolution
No. 2012-16, creating the City of 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 CRA desires to comply with the requirements of the Act and takes this
action in order to do so;
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 City of Cape Canaveral
Community Redevelopment Agency do hereby approve and adopt a budget attached hereto as
Exhibit "A" for Fiscal Year 2019/20; beginning October 1, 2019 and ending September 30, 2020.
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resolutions in conflict herewith are hereby repealed to the extent of the conflict.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.
City of Cape Canaveral
Community Redevelopment Agency
Resolution No. CRA-07
Page 1 of 2
Section 5. Effective Date. This Resolution shall become effective immediately upon
adoption by the Board Members of the CRA.
ADOPTED at a Regular Meeting of the Board Members of the CRA this 17th day of
September, 2019.
ATTEST:
Mia Goforth, CRA Clerk/Recording Secretary
Approved as to legal form and sufficiency for
the City of Cape Canaveral Community
RedevelopAgency only:
Anthony A. Garganese, Attorney for the City
of Cape Canaveral Community Redevelopment
Agency
Bob Hoog, Chairperson
Name For Against
Mike Brown Second
Bob Hoog x
Wes Morrison Absent
Rocky Randels x
Angela Raymond Motion
City of Cape Canaveral
Community Redevelopment Agency
Resolution No. CRA-07
Page 2 of 2
Resolution No. CRA-07
Exhibit "A"
The City of Cape Canaveral Community Redevelopment Agency
The City of Cape Canaveral Community Redevelopment Agency (CRA) Plan was developed in FY 2012-13. The Projects in the Plan are
funded with TIF revenues deposited in the Trust Fund to encourage development/redevelopment; financial incentives to developers;
businesses; and financing of capital improvement projects.
In the summer of 2015. 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. The CRA Board approved the repayment of $470,000 to the Wastewater Fund at
its September 2015 meeting. The first payment was made 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%.
In July of 2017, the City acquired another Capital Note to finance the redevelopment of Canaveral City Park and the Cape Canaveral Cultural
Arts Preservation Enrichment (CAPE) Center. This $6.2 million Revenue Note with an interest rate of 2.05% for ten years will be repaid by
the CRA.
Capital Outlay Detail
FY 18/19 FY 19/20
Capital Initiatives - City Park Redevelopment $ 4,600.000 $ 500,000
CAPE Center 20,000 980,000
Mobility/Striping Project 65,000 115,000
Corner Improvements - Redesign of Presidential Streets 64,000
W. Central/Thurm Blvd. Streetscape 2,870,000
Drainage Polk/Orange Avenues 249,500
North Atlantic Ave. Phase 3 120,000
$ 4,805,000 $ 4,778,500
Debt Repayment Schedule
Wastewater Loan $470K General Fund Note $6.2M
Principal Interest Principal Interest
FY 19-20 $ 46,596 $ 5.728 $ 588,000 $ 97,703
FY 20-21 47,527 4,797 600,000 85,526
FY 21-22 48,478 3,846 613,000 73,093
FY 22-23 49,448 2,876 625,000 60,404
FY 23-24 50,436 1,887 638,000 47,458
FY 24-25 43,047 879 652,000 34,235
FY 25-26 665,000 20,736
FY 26-27 679,000 6,960
Resolution No. CRA-07
Exhibit "A"
Revenue
106-000-300-300100
106-000-334-334510
106-000-338-338000
106-000-338-338001
106-000-361-361100
106-000-361-361310
106-000-381-381001
Operating
106-016-559-310000
106-016-559-310001
106-016-559-400000
106-016-559-450000
106-016-559-520000
106-016-559-540000
Capital Outlay
106-016-559-630000
106-016-559-630001
106-016-559-630002
106-016-559-630003
106-016-559-630004
106-016-559-630005
106-016-559-630006
106-016-559-630007
Debt Service
106-016-559-710000
106-016-559-720000
Other Expenses
106-016-581-910001
106-016-581-910401
Contingency
106-016-559-990000
Budget Detail
Cape Canaveral Community Redevelopment Agency
Fund 106 - Dept 016
Cash Forward
State Grant DEO
Shared Revenue fr Cape Canaveral
Shared Revenue fr Brevard Cnty
Interest From Investment
Net Increase (decrease) in FMV
Transfer from General Fund
Total Revenue
Legal Fees
Administrative/Professional Svcs
Travel & Per Diem
Insurance
Operating Supplies
Membership & Training
Total Operating
Grant Programs
Capital Initiatives
Mobility/Striping Project
Oak Lane Design
North Atlantic Ave. Phase 3
Corner Improvements
W. Central/Thum Blvd. Streetscape
Drainage Polk/Orange Ave.
Total Capital Outlay
Debt Service - Principal
Debt Service - Interest
Total Debt Service
Transfer to General Fund
Transfer to Wastewater Fund
Total Other Expenses
Contingency
Total Contingency
Total Community Redevelopment Agency Fund Budget
2016-2017
Actual
2017-2018
Actual
2018-2019
Original
2018-2019
Projected
2019-2020
Adopted I
Inc/Dec
-
-
66,659
-
135,5691
100%
39,500
a
0%
210,305
370,034
468,799
468,799
574,578 i
23%
265,198
285,555
468,799
468,799
574,578_;
23%
-
-
-
248
- I
-100%
i
-
-
-
-
-y
0%
60,000
472,224
4,600,000
985,000
4,409,000
348%
$ 575,003
$ 1,127,813
$ 5,604,257
$ 1,922,846
$ 5,693,725 j
196%
i
I
110,711
1,838
3,000
1,500
3,060 •,
104%
39,675
175
1,000
5,888
. 1,000 1
-83%
-
-
704
-
704 i
100%
5,351
-
5,500
5,500
5,700 1
4%
-
-
-
-
- 1
0%
495
495
1,095
1,240
1,095 i
-12%
156,232
2,508
11,299
14,128
11,559 1
-18%
-
-
50,000
-
- I
0%
191,820
61,142
4,620,000
1,065,000
1,480,000 t
39%
-
-
65,000
-
115,000
100%
-
-
-
-
- -!
0%
-
-
120,000
89,720
- I
-100%
-
-
-
-
64,000 1
100%
-
-
-
-
2,870,000I
100%
-
-
-
-
249,500 ;
100%
191,820
61,142
4,855,000
1,154,720
4,778,500 '
314%
125,630
556,462
621,682
621,682
634,596
2%
10,051
132,741
116,276
116,276
103,431 1
-11%
135,681
689,203
737,958
737,958
738,027 I
0%
` 1
-
495
-
-
-
0%
-
-
-
-
-
0%
-
495
-
-
- j
0%
91,271
-
-
-
165,6391
100%
91,271
-
-
-
165,6391
i
100%
I
$ 575,003
$ 753,348
$ 5,604,257
$ 1,906,805
$ 5,693,7251
199%