CRA 11/03/2011 Minutes - Laserfiche WebLink

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Community Redevelopment Agency November 3, 2011 Page 2 of 3 Mr. Martin said that there were no actions items on the agenda. Mr. Martin explained that today he would provide background information to the Board and at a future meeting allocation packages would be provided for the Board to consider investing the capital available in the CRA budget through 2015 to simulate economic development and furthering the objectives of the City of Casselberry. Mr. Martin said the City is positioning to request a ten year extension to the CRA term; however, at this time it is unclear if an extension would be granted. Mr. Martin reviewed a PowerPoint presentation summarizing the Florida Redevelopment Association Conference that was held in October 2011 (a copy is attached and made a part of the minutes). A general discussion ensued regarding retail in the City. Mr. Jones arrived at the meeting at 9:40 a.m. Sixth Item of Business: Casselberry Commercial Corridors Preliminary Analysis Mr. Kyle Dudgeon, Planner, reviewed a PowerPoint presentation providing an update on economic activity within the Casselberry Community Redevelopment District (a copy is attached and made a part of the minutes). A lengthy discussion ensued regarding access to the Casselberry Exchange Shopping Center, the development of the proposed Wal-Mart at Casselberry Exchange and the property acquisition and the proposed schedule for the US Highway 17-92/State Road 436 Intersection Improvement project. In response to the Board's question, Ms. Lipscomb said that the Estados 11 contract expires November 15, 2011. Ms. Lipscomb said staff received an email from the Chef stating he was working with his investors. Mr. Martin said that the City will let that project ride until the expiration of the contract. Seventh Item of Business: Capital Resources Review Mr. Martin projected the capital resources for the CRA through 2015 at approximately $1.8 - $2 million. He said the sale of the Target Outparcels would add another $850,000 in capital resources available for investment through the life of the CRA (2015). Eighth Item of Business: Target Outparcels Update Mr. Martin said that the staff has completed the assemblage of the Target Outparcels. He said the City Commission agreed to add their property to the CRA parcels. He said the parcel is now .9 acres and with that action Mr, Triece has started to market the property. He said there is serious interest in the property.