HomeMy WebLinkAboutResolution No. 819-23 CRA FY 23-24 BudgetRESOLUTION NO. 819-23
A RESOLUTION OF THE CITY OF ZEPHYRHILS COMMUNITY
REDEVELOPMENT AGENCY ADOPTING A PROPOSED BUDGET FOR
THE CRA DISTMCT FOR THE FISCAL YEAR 2023-2024; PROVIDING
FOR SEVERABILITY, APPLICABILITY AND ESTABLISHmG AN
EFFECTIVE DATE.
WHEREAS, The Zephyrhills Community Redevelopment Agency (Zephyrhills CRA)
was created pursuant to Chapter 163, Part III, Florida Statutes (the "Community Redevelopment
Act") establishing the conditions and procedures for the establishment of community
redevelopment areas and agencies; and,
WHEREAS, the Zephyrhills CRA is a dependent special district under Chapter 189,
Florida Statues (2006), known as the Unifonn Special District Accountability Act (the "Special
District Act"); and,
WHEREAS, the Special District Act requires all special districts, including dependent
special districts, such as the Zephyrhills CRA, to adopt a budget for each fiscal year by resolution;
NOW, THEREFORE, be it resolved by the Coinmunity Redevelopment Agency of the
City ofZephyrhills, Florida as follows:
Section 1. Authority. The Zephyrhills CRA has the authority to adopt this Resolution
pursuant to the Special District Act.
Section 2. Adoption of Budget. The governing body of the Zephyrhills CRA does hereby
approve and adopt a Budget for the Zephyrhills CRA for Fiscal Year 2023-2024. A copy of the
budget is attached hereto and incorporated herein as Exhibit "A".
Section 3. 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 potion hereto.
Section 4. Effective Date. This resolution shall take effect upon adoption.
The fore^p^Resfip^tion No. 819-23 was read and passed in an open and regular meeting of the
iQomiTiiiriity Kedev'el^^ent Agency of the City of Z phyrhills. Florida on t i 25th day of
Sept^nber,,2023..; '..^'~^^
u^;,-./^
Attest . " ' . .: ; .
G :. Lor|- .HiUman, City Clerk ^'^
s)
e eth M. Burgess, Jq. CRA card President
r:i-
U CJ ? V ^ v '' A.pproyed asto legal form andlegal content
for the sole relianc^of the City of ephyrhills
Matthew E. Maggard, Ci Attorney
Exhibit "A"
Community Redevleopment Agency
CRA Fund
Org Code: 11005900
The CRA is a dependent special district in which any future increases in property values are set aside in a Trust Fund to
support economic development and redevelopment projects within the designated district.
Under Florida Statute Chapter 163, Part III, local governments have the ability to designate areas as Community
Redevelopment Areas when certain conditions exist. To document the required conditions, the local governments must
survey the proposed redevelopment area and prepare a Finding of Necessity. If the Finding of Necessity determines the
required conditions of slum and blight exist, the local government may create a Community Redevelopment Agency to
provide the tools needed to foster and support positive redevelopment of the targeted area. The Community
Redevelopment Agency is responsible for developing and implementing the Community Redevelopment Plan or Master
Plan that addresses the unique needs of the targeted area. The plan includes the overall goals for redevelopment in the
area, as well as identifying the types of projects planned for the area.
Tax Increment Financing or TIF is a unique tool available to cities and counties for redevelopment activities as provided in
the Master Plan. It is used to leverage public funds to promote private sector activity in the CRA. The dollar value of all real
property in the Community Redevelopment Area is determined as of a fixed date, also known as the "frozen value". Taxing
Authorities continue to receive property tax revenues based on the frozen value. These frozen revenues are available for
general government purposes. Any tax revenues from increases in real property value within the CRA are deposited into
the Community Redevelopment Agency Trust Fund and dedicated to specific redevelopment projects and plans within the
Redevelopment Area and are not for general government purposes. The tax increment revenues can be used immediately,
saved for a particular project, or can be bonded to maximize the funds available.
CRA Boards do not establish policy for the city or county, they develop and administer a Master Plan to implement that
policy. The CRA acts officially as a body distinct and separate from the governing body, even when it is the same group of
people. The CRA has certain powers the city or county by itself may not do, such as establish tax increment financing, and
leverage local public funds with private dollars to make redevelopment happen. The CRA term is limited to 30 years, 40
years if extended. After that time all tax revenues are retained by each taxing entity that contributed to the CRA Trust
Fund.
Community Redevelopment Agency - Personnel Information
Personnel by Position
Position
Community Redevelopment Agency Director
Total
FY 2022
1
1
FY 2023
1
1
FY 2024
1
1
City Manager
Community
Redevelopment Agency
Director
Community Redevelopment Agency - Revenues by Source
Projected 2024 Revenues by Source
Shared Revenues (0.05%)
Miscellaneous Revenues (2.4%)
Interest Earnings (4.8%)
Taxes (47.9%)
Budget Cany-Over (44.8%)
Name
Revenue Source
Budget Cany-Over
C/0 Balance
Total Budget Cany-Over
ERP Code
11000300-300100
FY2023 Original Budget
$657,305
$657,305
FY2024 Budgeted
$925,344
$925,344
Taxes
Ad Valorem Taxes
Property Tax
Property Tax
Total Ad Valorem Taxes:
Total Taxes:
11010311-311000
11020311-311000
$328,685
$393,781
$722,466
$722,466
$446,425
$543,395
$989,820
$989,820
Shared Revenues
Main Street Reimbursement
Total Shared Revenues:
11000338-338300
$0
$1,000
$1,000
Interest Earnings
Interest Income
Total Interest Earnings:
11000361-361100 $1,000
$1,000
$100,000
$100,000
Miscellaneous Revenues
Surplus Property Sales
Total Miscellaneous Revenues:
11000364-364400 $0
$0
$50,000
$50,000
Total Revenue Source:$1,380,771 $2,066,164
Community Redevelopment Agency - Expenditures by Expense Type
Budgeted Expenditures by Expense Type
Personnel Semces (6.8%)
Grants & Contributions (9.7%)
\
OperaBng Expenditures (14.5%)
Capnal0u«ay(69%)
Name
Expense Objects
Personnel Services
Salaries
Fica Taxes
Medicare Taxes
Retirement Contributions
Group Health
Workers Camp Insurance
Total Personnel Seivices:
ERP Code
11005900-512000
11005900-521100
11005900-521200
11005900-522100
11005900-523000
11005900-524000
Ff2023 Original Budget
$81,163
$5,032
$1,177
$25,465
$8,867
$195
$121,899
FY2024 Budgeted
$89,526
$5,551
$1,299
$30,905
$9,732
$3,542
$140,555
Operating Expenditures
Professional Services
Prof Ser - Software & Support
Auditing Services
Contractual Services
Telephone & Data Communication
Refuse Removal
Property & Casualty Insurance
Promotional Activities
Office Supplies
Operating Supplies
Memberships/Dues
11005900-531500
11005900-531700
11005900-532000
11005900-534000
11005900-541000
11005900-543400
11005900-545000
11005900-548000
11005900-551000
11005900-552000
11005900-554200
$100,000
$2,096
$5,807
$50,000
$3,200
$600
$5,619
$5,000
$150
$2,400
$1,500
$50,000
$2,096
$6,039
$75,000
$3,200
$600
$7,024
$50,100
$150
$2,400
$1,500
Name
r-Training
CRA Initiatives
Total Operating Expenditures:
Capital Outlay
Building & Building Improvemen
Building & Building Improvemen
Infrastructure
Sidewalk Capital Projects
Machinery & Equipment
Total Capital Outlay:
Grants & Contributions
Building Facade Grants
Restaurant Grants
Total Grants & Cortributions:
Total Expense Objects:
ERP Code
11005900-555500
11005900-556200
11005900-562000
11005900-562000
11005900-563000
11005900-563111
11005900-564000
11005900-583010
Pi'2023 Original Budget |
$278,872
$300,000
SO
$630,000
$930,000
$50,000
$50,000
$1,380,771
FY2024 Budgeted
$2,500
$100,000
$300,609
$340,000
$125,000
$360,000
$250,000
$350,000
$1,425,000
$100,000
$100,000
$200,000
$2,066,164