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<br />Community Redevelopment Agency <br />June 9, 2006 <br />Page40f7 <br /> <br />A discussion ensued regarding the book value and the appraised value of the land swap property <br /> <br />and items paid by the General Fund that were CRA expenditures. Mr. Fall requested Mr. Dreier provide an <br /> <br />accounting of items paid by the City General Fund that were CRA expenditures. <br /> <br />Mr. John Pavlis, Interim City Manager, stated at the time the discrepancy was noted, the City <br /> <br />Attorney, the auditors, and special counsel reviewed the matter from the inception of the CRA to the present <br /> <br />to correct any discrepancies and in doing so drafted the Interlocal Agreement. Mr. Pavlis stated that the <br /> <br />City would provide data regarding CRA expenditures paid by the City General Fund at the next CRA <br /> <br />meeting. Mr. Pavlis said it is the City's intent to be supportive of the CRA and to ensure things are done <br /> <br />correctly. He said the City is looking to correct any errors so the City can be supportive and work in <br /> <br />partnership with the CRA and the County on this matter. <br /> <br />A discussion ensued regarding the necessary documentation needed by the CRA to make an <br /> <br />informed decision. Mr. Daigle requested the expenditures paid by the City on behalf of the CRA including <br /> <br />staff time from the inception of the CRA. A brief discussion ensued regarding the CRA using outside <br /> <br />staffing for the CRA Board. Mr. Fall requested copies of the audited Financial Statements from 1995 to <br /> <br />present. Mr. Pavlis stated that the City would provide the documentation that they are able to provide. Mr. <br /> <br />Pavlis said the City has sent a letter to the County and is in the process of drafting a second letter to the <br /> <br />County regarding this matter. <br />A discussion ensued regarding the discrepancy in the land value of the CRA owned properties. <br /> <br />Mr. Daigle said it is not uncommon to pay more money than the property is worth in order to assemble <br /> <br />parcels. Mr. Fall stated that the City made a good faith effort to the CRA to capture the loss of value and <br />that was part of the forgiveness. Mr. Bob Goff (Mayor) stated that the CRA purchased improved property <br /> <br />that was demolished and is now valued as vacant land. <br /> <br />Mr. Daigle asked for publiC comment. Mr. Hank Lander, 445 Surrey Run, Casselberry, Florida <br /> <br />asked if it was necessary to spend a great deal of time determining the City's contribution or whether a <br /> <br />general estimate within a couple hours of time would net the same results based on the work load. Mr. Goff <br />stated that there has been an error and it is being rectified. Mr. Goff said we need to move forward and the <br />