HomeMy WebLinkAboutResolution No. 828-24 CRA 2024-2025 BudgetRESOLUTION NO. 828-24
A RESOLUTION OF THE CITY OF ZEPHYRHILS COMMUNITY
REDEVELOPMENT AGENCY ADOPTING A PROPOSED BUDGET FOR
THE CRA DISTRICT FOR THE FISCAL YEAR 2024-2025; PROVIDING
FOR SEVERABILITY, APPLICABD.ITY AND ESTABLISHING 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 Uniform 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 Community 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 2024-2025. 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 fp^orug.Rj&^otutipn No. 828-24 was read and passed in an open and regular meeting of the
Conii^urilty redevelopment Agency of the City of Zephyrhills, Florida on this 23rd day of
,^epteftiber^03,4.''^" ; ;..»'^";^ - <. ^ ^^ .-, ^
Attest:-. .-,; '., -.....
Steven F. Spina, Ph.D., C Board President./i \ ;:Ricardo Quinones, Acting City Clerk
°: "'\^;-~:.^-'^/...x^.'-^/^.>y y, ( V°" Approved as to legal form and legal content
for the sole relianc of the Cjfy oJZephyrijills
.
Matthew E. Maggard, C" Attorney
Exhibit A
Community Redevleopment Agency
CRA Fund
Org Code: 11005900
The CRA isa 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
Findingof 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 orTIF isa 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 ofncially 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 Agen^ - Personnel Information
Personnel by Position
Position
Community Redevelopment Agency Director *
Total
FY 2023 FY 2024 FY 2025
1 1 1
1 1 1
Community Redevelopment Agency
City Manager
Community
Redevelopment Agency
Director
Community Redevelopment Agency - Revenues by Source
2025 Revenues by Source
Shared Revenues (0.04%)
Interest Earnings (3.6%)
Budget Carry-over (48.2%)
Taxes (48.1%)
Name
Revenue Source
Bud9et Carry-Over
C/0 Balance
Total Budget Carry-over:
ERP Code
11000300-300100
R^2024 Original Budget
$925,344
$925,344
Fy2025 Budgeted
$1,350,964
$1^50,964
Taxes
Ad Valorem Taxes
Property Tax
Property Tax
Total Ad Valorem Taxes:
Total Taxes:
11010311-311000
11020311-311000
$446,425
$543,395
$989,820
$989,820
$607,968
$740,028
$1,347,996
$1347,996
Shared Revenues
Main Street Reimbursement
Total Shared Revenues:
11000338-338300 $1,000
$1,000
$1,000
$1,000
Interest Earnings
Interest Income
Total Interest Earnings:
11000361-36n00 $100,000
$100,000
$100,000
$100,000
Miscellaneous Revenues
Surplus Property Sales
Total Miscellaneous Revenues:
Total Revenue Source:
11000364-364400 $50,000
$50,000
$2,066,164
$0
$0
$2,799,960
Community Redevelopment Agency - Expenditures by Expense
Type
Byslgeted Expenditures by Expense Type
Personnel Services (5.1%)
Grants & Contributions (7.1%)\
\
Operating Expenditures (20%)
Capital Outlay (67.8%)
Name ERP Code
Expense Objects
Personnel Services
Salaries 11005900-512000
Fica Taxes 11005900-521100
Medicare Taxes 11005900-521200
Retirement Contributions 11005900-522100
Group Health 11005900-523000
Workers Comp Insurance 11005900-524000
Total Personnel Services:
Operating Expenditures
Professional Services 11005900-531500
Prof Ser - Software & Support 11005900-531700
Auditing Services 11005900-532000
Contractual Services 11005900-534000
Telephone & Data Communication 11005900-541000
Refuse Removal 11005900-543400
Copy Machine Leases 11005900-544500
Property & Casualty Insurance 11005900-545000
Promotional Activities 11005900-548000
Office Supplies 11005900-551000
Operating Supplies 11005900-552000
FY2024 Original Budget FV2025 Budgeted
$89,526
$5,551
$1,299
$30,905
$9,732
$3,542
$140^55
$50,000
$2,096
$6,039
$75,000
$3,200
$600
$0
$7,024
$50,100
$150
$2,400
$91,411
$5,668
$1,326
$31,555
$10,793
$2,155
$142,908
$100,000
$2,502
$6,000
$75,000
$10,000
$1,000
$1,000
$6,900
$50,000
$150
$2,500
Name
Memberships/Dues
Training
CRA Initiatives
Total Operating Expenditures
ERP Code
11005900-554200
11005900-555500
11005900-556200
FY2024 Original Budget
$1,500
$2,500
$100,000
$300,608
FY2025 Budgeted
$2,000
$2,000
$300,000
$559,052
Capital Outlay
Land Acquisition
Building & Building Improvemen
Building & Building Improvemen
Infrastructure
Sidewalk Capital Projects
Machinery & Equipment
Total Capital Outlay;
Grants & Contributions
Building Improvement Grants
Total Grants & Contributions:
Total Expense Objects:
11005900-561000
11005900-562000
n005900-562000-24P05
11005900-563000
n005900-563m-21Pn
11005900-564000
11005900-583010
$0
$340,000
$125,000
$360,000
$250,000
$350,000
$1,425,000
$200,000
$200,000
$2,066,164
$348,000
$0
$0
$1,250,000
$150,000
$150,000
$1,898,000
$200,000
$200,000
$2,799,960