CRA 03/28/2022 Minutes - Laserfiche WebLink

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Community Redevelopment Agency Minutes March 28, 2022 Page 3 of 4 Mr. Newlon said he believes that the last Tax Increment Financing (TIF) contribution from the City and Seminole County would be December 2024. He said if that is true, there would be approximately $6 million to use towards these goals. Mr. Newlon said at a future meeting the City may ask the CRA to share in the funding of the Art House expansion. He estimated the funding to be approximately $800,000. A general discussion ensued regarding the CRA funding the expansion of the boardwalk around Concord Lake and the streetlight assessment. The CRA identified the following potential CRA projects: 1. Land acquisition, demolition and/or construction with Lake Concord Park for 110 Quail Pond Circle, 116 Quail Pond Circle ("wall house"), 119 Triplet Lake Drive, 151 Quail Pond Circle or 110 Sunset Drive North 2. Expansion of the boardwalk around Lake Concord (with the ability to do so) 3. Bury electrical lines along US Highway 17/92 corridor 4. Add matching decorative streetlights along both sides of US Highway 17/92 5. Add acorn -style decorative streetlights along Concord Drive and Sunset Drive 6. Retain a professional site selector for sit-down restaurants within the CRA 7. Commitment to assist with funding of the Art House expansion 8. Land acquisition of the FDOT property at the northwest corner of SR 436 and US Highway 17/92 In response to Mr. Newton's question, the CRA Board agreed that land acquisition around Lake Concord Park would be a priority item. The Board said park enhancements would be a lower priority unless something presented itself to the City. Seventh Item of Business: Other Business. There was no other business. Eighth Item of Business: Public Comments. Mr. Henson asked if there was anyone in the audience that wish to speak. Ms. Emily Everetts, no address given, came forward. Ms. Everetts felt that her comments are null and void as the Board has made their decision. She said it is important that the money is used to help lift the community and residents in the best way possible. Ms. Everetts said she was unsure if that was possible under the guidance on how the money could be used. She hoped that the funds could be used to ease the burden and stress of the working community. Ninth Item of Business: Adjournment. There being no further business to come before the Board, Mr. Henson adjourned the meeting at 5:09 p.m.