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Community Redevelopment Agency Minutes June 25, 2018 Page 2 of 4 Ms. Glancy asked for a motion for the ratification of invoices and the approval of the Finance Report. Mr. Meadows made a motion to approve the ratification of invoices and the Finance Report for month ending May 31, 2018 as presented. Mr. Aramendia seconded the motion. The motion passed unanimously by voice vote. Fourth Item of Business: 2018/2019 CRA Proposed Budget, Ms. Emily Hanna, Development Services Manager, presented the proposed budget for fiscal year 2019. She said the CRA is expected to receive $427,776 from the City of Casselberry and $699,454 from Seminole County in Tax Increment Funding (TIF) for fiscal year 2019. She said $35,000 is estimated to be derived from rental properties. She said there is also miscellaneous income anticipated from earned interest. Ms. Hanna said that staff recommends the CRA allow $100,000 for professional fees to enable the CRA to engage consultants if needed. She said additionally $16,500 would be necessary to provide operating expenses primarily for the rental properties and insurance. She said the CRA would need to pay back the City of Casselberry $68,604 for its share of allocated overhead. Ms. Hanna said the largest expenditure in the fiscal year 2019 budget would be for the capital purchase of land for the expansion of Lake Concord Park or land for a parking facility at Lake Concord Park. She said these expenditures align with the CRA Redevelopment Plan adopted in October in 2016. She said the amount of the capital budget would be $1,000,000. Ms. Glancy asked for a motion for the 2018/2019 CRA Proposed Budget. Mr. Hufford made a motion to approve the 2018/2019 CRA Proposed Budget as presented. Mr. Aramendia seconded the motion. The motion passed unanimously by voice vote. Fifth Item of Business: US Highway 17192/Piney Ridge FDOT Pond Fountain. Ms. Emily Hanna, Development Services Manager, said the City has installed multiple fountains throughout the City. She said the fountains are for place making and beautification of the City's assets. She said the City would like to install a fountain at the FDOT pond adjacent to US Highway 17/92 and Piney Ridge Road. She said this fountain would contain five separate floating assemblies that would be in a linear formation. She said LED lights would change as the fountain cascades to the next floating assembly in a linear pattern. Mr. Hufford said that the Board had received feedback from citizens regarding other ways to spend the money rather than a fountain. Mr. Hufford thought the fountain was an appropriate use for our entranceway into the City.