98-918 CRA Trust Fund - Laserfiche WebLink

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to exercise powers as described and provided in Chapter 163, Part III, Florida Statutes, such powers to include the authorization of a Community Redevelopment Agency ("CRA"); and WHEREAS, in reliance on Seminole County's delegation of authority to the City of Casselberry, the City of Casselberry adopted Ordinance No. 95-851 on December 11, 1995 to create the Casselberry Community Redevelopment Agency; and WHEREAS, in reliance on Seminole County's delegation of authority to the City of Casselberry, the City of Casselberry adopted Ordinance No. 95-852 on December 11, 1995 to establish and provide funding for the Casselberry Community Redevelopment Trust Fund; and WHEREAS, the Seminole County Board of County Commissioners has adopted Resolution No. 98-R-181 dated August 25, 1998, to, among other things, provide that Seminole County's portion of increment revenues derived from property located in the Casselberry Community Redevelopment Area shall be deposited in the Casselberry Community Redevelopment Trust Fund through the existing term of the Casselberry Redevelopment Plan and that Seminole County's level of funding shall be at the maximum level established by the City of Casselberry in its ordinance providing for the funding of the Casselberry Community Redevelopment Agency Trust Fund consistent with the provisions of State Law and Resolution No. 98-R-181. NOW THEREFORE, BE IT ENACTED BY THE CITY COMMISSION OF THE CITY OF CASSELBERRY, FLORIDA, AS FOLLOWS: SECTION I. That a new Section 15 of Ordinance No. 95-852 shall be created and shall read as follows: SECTION 15. As provided in Seminole County Resolution No. 98-R-181, commencing in the tax year 1998, seventy percent (70%) of the "increment revenues" Ordinance No. 98-918 Page 2 of 4