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Community Redevelopment Agency January 14, 2011 Page 5 funds to pay for ongoing city activities, He said the interest payment on the note would no longer be a redevelopment activity at the point in time but a City's activity. Mr. Ritchie amended his motion that the budget authority to have up to $920,000 available for site improvements with no loans involved for the Estado 11 project. Mr. Daigle seconded the motion. A general discussion ensued regarding the current interest payment on the property and the amount of the lease payment that the City would receive for the property. Ms, Lipscomb said the City may need assistance from the CRA during the interim period before the lease rate increases. The Board said that they would discuss that issue when the time comes. Mr. Ritchie felt that the CRA assisting with the redevelopment of the Concord site could assist with the City's request to the County to extend the CRA term The motion passed with a majority vote with Mr. McGregor casting the dissenting vote. Mr. Martin stated that staff met with representatives from the Aviation Institute of Maintenance to discuss the redevelopment and reuse of the Saturn Car Dealership on US Highway 17/92. Mr. Martin said that this would be a good addition to the corridor. A brief discussion ensued regarding the status of the Casselberry Collection shopping center. Mr. Martin presented a PowerPoint Presentation to the Board reviewing a draft copy of the CRA Plan for the Plan Objectives and Northern Sub-Area Projects and Programs (a copy is attached and made a part of the minutes). Mr. Martin said that his proposal is not to change the current Community Redevelopment District (CRD) boundaries; however, the Board may want to contemplate it if that is appropriate. He said the one area that may be worth adding to the CRD is the Sandpiper Apartment Complex located on Oxford Road. He said logistically it may be more complicated to change the boundaries and he would need to research a boundary extension, Mr. Martin stated that staff met with Seminole County on January 13, 2011 to discuss joint planning from the Sun Rail Station to Ferncreek, A general discussion ensued regarding trading out properties in the current CRD and replacing with other properties that are in need of assistance. Mr. Martin stated that he would research potential areas to add to the CRD boundaries Mr. John Casselberry, 700 South Lost Lake Lane, Casselberry, Florida came forward, Mr. Casselberry felt that Oxford Road is very important to the CRD circulation during the road construction and recommended not