HomeMy WebLinkAboutResolution No. CRA-01 RESOLUTION NO. CRA-01
A RESOLUTION OF THE CITY OF CAPE CANAVERAL
COMMUNITY REDEVELOPMENT AGENCY
ADOPTING A BUDGET FOR THE CAPE CANAVERAL
COMMUNITY REDEVELOPMENT AGENCY FOR
FISCAL YEAR 2014-15; 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;
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 2014-15; beginning October 1, 2014 and ending September 30,
2015.
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resolutions in conflict herewith are hereby repealed to the extent of the conflict.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-01
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 Regular Meeting of the Board Members of the City of Cape Canaveral
Community Redevelopment Agency this 19th day of August, 2014.
ATTEST: ROCKY RANDELS, Chairperson
Angela Appers;n Recording .ecretary
Name For Against
John Bond X
Robert Hoog X
Buzz Petsos Second
Rocky Randels x
Betty Walsh Motion
Approved as to legal form and sufficiency for
Cape Canaveral Community Redevelopment
Agency only:
Anthony A. Garganese, Attorney for
Cape Canaveral Community Redevelopment
Agency
City of Cape Canaveral
Community Redevelopment Agency
Resolution No. CRA-01
Page 2 of 2
Res.CRA-01
Cape Canaveral Community Redevelopment Agency Exhibit"A"
1 of 5
The City's 1995 Redevelopment Plan included as an objective the creation of a Community Redevelopment Agency(CRA).While the need
for a CRA has long existed in Cape Canaveral,the recent economic recession, loss of the Shuttle program and restructuring of NASA have
exacerbated the need for redevelopment. A CRA is a tool to create a funding source and plan for the City that will create jobs, increase
property values and attract the services desired by its residents. In 2012 the City adopted a "Finding of Necessity" report prepared by
Kimley-Horn and Associates, Inc.that found that conditions exist in the City warranting the creation of a CRA per Florida Statutes. Later
the same year. the City adopted a Redevelopment Plan. also prepared by Kimley-Horn and Associates, Inc. and subsequently adopted
Ordinance No.23-2012 which established a Redevelopment Trust Fund for the deposit of CRA funds. including tax increment financing
revenues.
The Community Redevelopment Plan was developed in FYI2-13. The Projects in the Plan are funded with TIF revenues deposited in the
Trust Fund for matching grants to encourage development/redevelopment: financial incentives to developers and businesses:and financing
of capital improvement projects.
The City loaned the Community Redevelopment Agency S100K to initially fund the CRA. The City will be reimbursed by the Agency in
annual equal installments amortized over 10 years. The first installment shall be due the City on October 31, 2014 and subsequent
installments shall be due each year thereafter on October 31st until the note is paid in full.The annual interest rate is set at 2%.
Capital Outlay Detail
Grant Programs S 10,962
Branding Initiative 12,500
S 23,462
Res. CRA-01
Exhibit "A"
City of Cape Canaveral 2 of 5
2014-2015 Fiscal Year Annual Budget
Cape Canaveral Community Redevelopment Agency Fund
Fund 106-Dept 016
2013-2014 2014-2015
%Change
Original Adjusted from Prior
Account Number Description Budget Budget Requested Fiscal Year
Operating Expenditures
106-016-559-310000 Legal Fees 1,000 1,000 1,000 0.0%
106-016-559-310001 Administrative Fees 1,000 1,000 1,000 0.0%
106-016-559-400000 Travel&Per Diem - - 644 100.0%
106-016-559-450000 General Insurance 3,000 3,000 5,000 66.7%
106-016-559-520000 Operating Supplies - - - 0.0%
106-016-559-540000 Membership&Training - - 1,095 100.0%
Total Operating $ 5,000 $ 5,000 $ 8,739 74.8%
Capital Outlay
106-016-559-630000 Grant Programs 101,300 101,300 10,962 -89.2%
106-016-559-630001 Capital-Branding Initiatives 16,800 16,800 12,500 -25.6%
Total Capital $ 118,100 $ 118,100 $ 23,462 -80.1%
Debt Service
106-016-559-710000 Debt Service-Principal - - 8,966 100.0%
106-016-559-720000 Debt Service-Interest - - 2,167 100.0%
Total Debt Service $ - $ - $ 11,133 100.0%
Other Expenses
106-016-581-910304 Transfer to N.Atl Imp.Fund - - 113,694 100.0%
Total Other Expenses $ - $ - $ 113,694 100.0%
Contingency
106-016-559-990000 Contingency - - 5,000 100.0%
Total Contingency $ - $ - $ 5,000 100.0%
Department Total $ 123,100 $ 123,100 $ 162,028 31.6%
7/24/2014 10:29 AM 106-016 CC Community Redevelopment Agency Fund Budget Workbook FY15 Expenditure Summary
Res. CRA-01
City of Cape Canaveral Exhibit "A"
2014-2015 Fiscal Year Annual Budget 3 of 5
Cape Canaveral Community Redevelopment Agency Fund
Fund 106-Dept 000
2013-2014 2014-2015
%Change
Original Adjusted from Prior
Account Number Description Budget Budget Requested Fiscal Year
Revenue
106-000-300-300100 Cash Forward - - 36,197 100.0%
106-000-338-338000 Shared Revenue-Cape Canaveral 11,100 11,100 55,330 398.5%
106-000-338-338001 Shared Revenue-Brevard Cnty 11,500 11,500 70,000 508.7%
106-000-361-361100 Interest from Investment 500 500 501 0.2%
106-000-381-381001 Transfer in from General Fund 100,000 100,000 - -100.0%
Revenue Total $ 123,100 $ 123,100 $ 162,028 31.6%
*Note
The Cash Forward amount of $36 , 197 was previously designated in
FY2013-2014 CRA Budget for Branding and Grant Programs . These funds
have been redesignated for FY2014-2015 in the areas of Branding, Grant
Programs, Transfer to North Atlantic Avenue Improvements Fund, Debt
Service and Contingency. All monies will be expended in the CRA.
7/24/2014 10:29 AM 106-016 CC Community Redevelopment Agency Fund Budget Workbook FY15 Revenue Summary
Res. CRA-01
City of Cape Canaveral Exhibit "A..
2014-2015 Fiscal Year Annual Budget 4 of 5
Cape Canaveral Community Redevelopment Agency Fund
Fund 106-Dept 016
Detailed Description of Request Quantity Unit Type Price Amount
Legal Fees 106-016-559-310000 1,000.00
1 yr. 1,000.00 1,000.00
Administrative Fees 106-016-559-310001 1,000.00
1 yr. 1,000.00 1,000.00
Travel&Per Diem 106-016-559-400000 644.00
Per Diems 4 days 36.00 144.00
Florida Redevelopment Association Conference 3 nights 140.00 420.00
Parking fees for conference 4 days 20.00 80.00
General Insurance 106-016-559-450000 5,000.00
1 yr. 5,000.00 5,000.00
Operating Supplies 106-016-559-520000 I - I
Membership&Training 106-016-559-540000 I 1,095.00 1
FRA Membership 1 yr. 595.00 595.00
FRA Conference 1 yr. 500.00 500.00
Grant Programs 106-016-559-630000 I 10,962.00 I
1 ea. 10,962.00 10,962.00
1 ea.
.
Capital-Branding Initiatives 106-016-559-630001 I 12,500.00 I
1 ea. 12,500.00 12,500.00
Debt Service-Principal 106-016-559-710000 I 8,966.00
Repayment of 10 yr loan from GF-1st pmt 1 ea. 8,966.00 8,966.00
Debt Service-Interest 106-016-559-720000 2,167.00
Repayment of 10 yr loan from GF-1st pmt 1 ea. 2,167.00 2,167.00
7/24/2014 10:29 AM 106-016 CC Community Redevelopment Agency Fund Budget Workbook FY15 Expenditure Detail
Res. CRA-01
City of Cape Canaveral Exhibit"A"
2014-2015 Fiscal Year Annual Budget
Cape Canaveral Community Redevelopment Agency Fund 5 Of 5
Fund 106-Dept 000
Detailed Description of Request Quantity Unit Type Price Amount
Cash Forward 106-000-300-300100 36,197.00
1 yr. 36,197.00 36,197.00
Shared Revenue-Cape Canaveral 106-000-338-338000 55,330.00
1 yr. 55,330.00 55,330.00
Shared Revenue-Brevard Cnty 106-000-338-338001 70,000.00
100% yr. 70,000.00 70,000.00
Interest from Investment 106-000-361-361100, 501.00)
1 yr. 501.00 501.00
Transfer In from General Fund 106-000-381-381001 -
Loan from General Fund 1 ea.
7/24/2014 10:29 AM 106-016 CC Community Redevelopment Agency Fund Budget Workbook FY15 Revenue Detail