HomeMy WebLinkAboutcocc_resolution_no_cra-08_20200915RESOLUTION NO. CRA-08
A RESOLUTION OF THE CITY OF CAPE CANAVERAL
COMMUNITY REDEVELOPMENT AGENCY; ADOPTING A
BUDGET FOR THE CAPE CANAVERAL COMMUNITY
REDEVELOPMENT AGENCY FOR FISCAL YEAR 2020/21;
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 2020/21; beginning October 1, 2020 and ending September 30, 2021.
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resolutions in conflict herewith are hereby repealed to the extent of the conflict.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-08
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 15th day of
September, 2020.
ATTEST:
Mia Goforth, CRA Clerk/Recording Secretary
Approved as to legal form and sufficiency for
the City_of-Cape Canaveral Community
Redevelorit Agency only:
Anthofny A. Garganese, Attorney for the City
of Cape Canaveral Community Redevelopment
Agency
Bob Hoog, Chairperson
Name For Against
Mike Brown Motion
Bob Hoog
Mickie Kellum
Wes Morrisson x
Angela Raymond Second
City of Cape Canaveral
Community Redevelopment Agency
Resolution No. CRA-08
Page 2 of 2
Resolution No. CRA-08
Exhibit "A"
Cape Canaveral Community Redevelopment Agency
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;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 19/20 FY 20/21
Multi Generational Facility 980,000 2,845,957
Mobility/Striping Project 115,000 0
Drainage Polk/Orange Ave 249,500 0
City Park Redevelopment 500,000 250,000
Corner Improvements 64,000 53,500
W Central/Thurm Blvd Streetscape 2,870,000 1,626,500
Grant Programs 0 25,000
Sidewalk Construction 0 65,000
4,778,500 4,865,957
Debt Repayment Schedule
Wastewater Loan$470K General Fund Note$6.2M
Principal Interest Principal Interest
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
Budget Detail
Cape Canaveral Community Redevelopment Agency
Fund 106-Dept 016
2017-2018 2018-2019 2019-2020 2019-2020 ( 2020-2021
Actual Actual Original Projected ( Adopted Inc/Dec
Revenue
106-000-300-300100 Cash Forward - - 135,569 135,569 25,554, -81%
106-000-334-334510 State Grant DEO - - 0 0 0 0%
106-000-338-338000 Shared Revenue fr Cape Canaveral 370,034 468,799 574,578 574,578 776,406' 35%
106-000-338-338001 Shared Revenue fr Brevard Cnty 285,555 468,799 574,578 574,578 ; 776,406 35%
106-000-361-361100 Interest From Investment - - 0 0 ! 0 0%
106-000-381-381001 Transfer from General Fund 472,224 83,500 4,409,000 372,000 t 4,037,000 985%
Total Revenue $ 1,127,813 $ 1,021,098 $ 5,693,725 1,656,725 5,615,366' 239%
Operating
106-016-559-310000 Legal Fees 1,838 553 3,060 1,000 j 3,060 206%
106-016-559-310001 Administrative/Professional Svcs 175 15,706 1,000 350 1,000 186%
106-016-559-400000 Travel&Per Diem - - 704 250 704 182%
106-016-559-450000 Insurance - - 5,700 0 5,700 100%
106-016-559-520000 Operating Supplies - - 0 0 0 0%
106-016-559-540000 Membership&Training 495 620 1,095 1,095 1,095 0%
Total Operating 2,508 16,879 11,559 2,695 ' 11,559. 329%
Capital Outlay
106-016-559-630000 Grant Programs - - 0 0 25,000 100%
106-016-559-630001 Capital Initiatives 61,142 202,007 1,480,000 372,000 ' 3,095,957 732%
106-016-559-630002 Mobility/Striping Project - 15,968 115,000 115,000 65,000' -43%
106-016-559-630004 North Atlantic Ave.Phase 3 - 108,512 0 0 0 0%
106-016-559-630005 Corner Improvements - - 64,000 64,000 53,500 -16%
106-016-559-630006 W.Central/Thurm Blvd.Streetscape - - 2,870,000 78,000 1,626,500 1985%
106-016-559-630007 Drainage Polk/Orange Ave. - - 249,500 249,500 0 -100%
Total Capital Outlay 61,142 326,487 4,778,500 878,500 4,865,957 454%
Debt Service
106-016-559-710000 Debt Service-Principal 556,462 569,358 634,596 634,596 647,527 2%
106-016-559-720000 Debt Service-Interest 132,741 116,276 103,431 103,431 90,323 -13%
Total Debt Service 689,203 685,634 738,027 738,027 ! 737,850 0%
Other Expenses
106-016-581-910001 Transfer to General Fund 495 - 0 0 0, 0%
Total Other Expenses 495 - - - 0 0%
Contingency
106-016-559-990000 Contingency - - 165,639 165,639 0 -100%
Total Contingency - - 165,639 165,639 0 -100%
Total Community Redevelopment Agency Fund Budget $ 753,348 $ 1,029,000 $5,693,725 $1,784,861 ( $5,615,366 215%