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Community Redevelopment Agency <br />December z7, 2049 <br />Page 2 <br />reviewed the Anaiysis of Change in Taxable ValueslTax Revenues 2009/2010 document to the Board {a <br />copy is attached and made a part of the minutes). Ms. Bowman stated that the City will transfer their funds <br />to the Community Redevelopment Agency {CRA) in December and the City has requested payment from <br />Seminoie County to the CRA. <br />Fourth Item of Business: Budget Roilover <br />Mr. Randy Newton, i=finance Director, reviewed the staff memo dated December 11, 2009 {a copy <br />is on file in the Cammuni#y Development Department). Mr. Newton stated that the CRA rollover is <br />approximately X78,000 from the 2048/2009 budget to the 2009/2010 budget. He said this figure was based <br />on open purchase orders for projects that will be compieted this fscal year. He said if the CRA does not <br />rollover the full amount of what was budgeted but not committed the CRA would add about X635,000 to the <br />X300,000 bottom line number. He said the fund balance for 2010 would be reset at X936,000. Rollovers for <br />fhe following items are not reauthorized at this time: <br />1. US Highway 17-92 Streetscape project - X200,000, <br />2. Land acquisition - $200,000 <br />3. Grassy Lake improvements - $50,000 <br />4. District Signs - $25,000 <br />He said the CRA Board has the option ko reauthorize these items but it would take a separate <br />action. He said the CRA is budgeted to spend everything that it is expected to receive in revenue and an <br />additional $72,000 to be drawn out of reserves to baiance the 2010 budget. Mr. ~lewlon stated that leaves <br />an adjusted available balance of ~86~,000 that could be committed to something else. He said the 2010 <br />budget includes; <br />1. Land acquisition - $200,000 <br />2. District Signs - $50,000 <br />3, l'ublio Art - X10,000 <br />4, US Highway 17-92 Streetscape project - X100,000 <br />He said that fhe Board needs to decide if they want to de-authorize that funding with a separate <br />actian which would allocate funds for other projects. He said the CRA has discussed authorizing funding for <br />the starmwater permitting far the City owned 15 acre parcel; however, that hasn't occurred yet. He said that <br />would commit some of the available resources. <br />