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Community Redevelopment Agency <br />November4,2005 <br />Page 2 of 3 <br />Agency (CRA) currently has $732,000 available in their budget. Ms. Bowman explained there is $400,000 budgeted <br />for land and $150,000 budgeted for infrastructure <br />Mr. Randy Newlon, City Manager, clarified that the budget was constructed by the CRA Board last year to <br />fully expend all of their resources that they thought they were going to have in the new budget year due to the <br />uncertainty of the extension of the CRA term. He said that the CRA Board can reconstitute the budget as they see fit <br />through the budget amendment process. <br />In response to Commissioner Solomon's question regarding budgeting $500,000 for Seminole State, Mr. <br />Newlon explained that the actual budget has not occurred but it is part of the long range plan for the CRA. He said it <br />was one of the objectives to justify the extension of the CRA term. Mr. Newlon said that project is at a conceptual <br />point at this time. <br />Mayor Glancy asked if there was anyone in the audience that would like to speak on this item. No one <br />came forward. <br />Mayor Glancy asked for a motion. Commissioner Aramendia made a motion to approve the Finance Report <br />as presented. Commissioner Solomon seconded the motion. The motion passed unanimously by voice vote. <br />Sixth Item of Business: CRA Audit <br />Ms. Rebecca Bowman, Finance Director, explained that the CRA is audited as part of the City's annual <br />financial audit. Ms. Bowman introduced Mr. William Blend, Moore Stephens Lovelace, P.A. to the CRA Board. Mr. <br />Blend gave an overview of the CRA Audit. A general discussion ensued regarding the million dollars that was <br />transferred from the CRA budget for the Triplet Lake Drive improvement and the improvements allowed in the CRA <br />Plan. <br />Mayor Glancy asked if there was anyone in the audience that would like to speak on this item. No one <br />came forward. <br />Mayor Glancy asked for a motion. Commissioner Solomon made a motion to approve the CRA Audit as <br />presented. Commissioner Aramendia seconded the motion. The motion passed unanimously by voice vote. <br />Seventh Item of Business: Annual Report <br />