Book 3 Page 31801 03/03/14 2:30 P.M. MINUTES OF THE SPECIAL SARASOTA COMMUNITY REDEVELOPMENT AGENCY MEETING OF MARCH 3, 2014 PRESENT: Chair Shannon Snyder, presiding, Vice Chair Willie Shaw, Members Suzanne Atwell, Paul Caragiulo, and Susan Chapman, Executive Director Thomas Barwin, City Attorney Robert Fournier, and Secretary Pamela Nadalini ABSENT: None The Special Sarasota Community Redevelopment Agency (CRA) meeting was called to order by Chair Snyder at 2:48 p.m. 1. APPROVAL RE: APPROVAL RE: MINUTES OF THE SPECIAL SARASOTA COMMUNITY REDEVELOPMENT AGENCY MEETING OF FEBRUARY 18, 2014 (AGENDA ITEM CRA-1) Chair Snyder noted CRA consensus to approve the minutes of the February 18, 2014, Special Sarasota Community Redevelopment Agency (CRA) meeting. 2. PRESENTATION RE: COMMUNITY REDEVELOPMENT AGENCY ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2013, WHICH IS INCLUDED IN THE CITY'S COMPREHENSIVE ANNUAL FINANCIAL REPORT (AGENDA ITEM CRA-2) Deputy Financial Administration Director Kelly Strickland read a prepared statement and stated that in accordance with Section 163.387(8), Florida Statutes, each Community Redevelopment Agency (CRA) shall provide for an audit oft the CRA's trust fund each fiscal year; that the CRA Report is to be audited by an ndependent Certified Public Accountant (CPA) or firm; that the CRA Report should describe the source of amounts deposited into the trust fund and the purpose for the amounts of withdrawals from the trust fund during the fiscal year and the amounts of principal and interest paid on any indebtedness; that the Comprehensive Annual Financial Report (CAFR) has been completed and audited by Purvis, Gray and Company, LLP; that the CRA will provide a copy oft the CRA Annual Report by registered mail to each taxing authority; that the second requirement in accordance with Section 163.356(3)(c), Florida Statutes, is an agency authorized to transact business and exercise powers under this section shall file with a governing body on or before March 315 of each year a report of CRA activities for the preceding fiscal year; that the CRA Report shall include a complete financial statement setting forth the assets, liabilities, income and operating expenses as oft the end of the fiscal year; that at the time the CRA Report is filed the agency shall publish in the newspaper a notice indicating the CRA Report has been filed with the County or the municipality and is available for inspection during regular business hours in the Office of the City Auditor and Clerk; that a recap of CRA activities for fiscal year 2013 is a follows: CRA Revenues as of September 30, 2013 - $6,915,011 (decreased due primarily to the sale of the Palm Avenue retail property for $1.6 million in the previous year) CRA Expenditures $8,109,979 CRA Initiatives $2,065,087 CRA Transfers out for the following projects: Debt service payment on bonds and loans $3,395,146 General Fund - Police services 1,003,340 General Fund - Landscape services 803,002 General Fund - Redevelopment office cost 725,404 Robert L. Taylor Community Complex (RLTCC) 118,000 Outstanding Debt Service as of September 30, 2013 11,970,544 CRA Fund Balance as of September 30, 2013 $16,660,914 reserved for the following outstanding commitments State Street Garage 6,986,829 Newtown Redevelopment 1,926,466 Economic Development 944,043 AdminstralvelPaning Studies 525,846 Community Health and Welfare 333,403 Community Grants 121,174 Newtown Land Acquisition 2,000 First Street -US 41 to Pineapple Avenue 1,993,511 Main Street -Orange Avenue Roundabout 992,083 Wayfinding Signage 662,240 Main Street - Segments 1 and 3A 754,411 Sarasota Housing Authority 744,299 Downtown Transportation 456,567 Sarasota Herald Tribune - Development Infrastructure Incentive 401,278 Newtown Entrance Plazas 300,000 Downtown Redevelopment 342,259 Downtown Redevelopment 310,577 Community Grants 31,682 North Palm Avenue Landscape 222,651 Intersection Improvement US 41 and Main Street 210,131 Ringling Square -Developer Infrastructure Incentive 173,987 US 301 Landscaping 159,599 Downtown Pedestrian Street Lights 58,932 Five Points to Orange Avenue 24,330 City-Wide Mobility Study 94,965 The Salvation Army 66,500 Enhanced Maintenance Re: Tax increment Financing (TIF) Funds 58,500 TCEA Update 47,579 Palm Avenue Garage Lighting 42,867 Other Miscellaneous Projects 8,381 Ms. Strickland continued that statements which represent the CRA can be found in the City's annual CAFR; that the CRA is presented in the CAFR as a major fund and included in the independent Auditors' Report. AI motion was made by Vice Chair Shaw, seconded by Member Atwell, and carried by a 5-0 vote to accept the Community Redevelopment Agency Annual Financial Report of activities which is included in the City's Comprehensive Annual Financial Report (CAFR) for fiscal year ended September 30, 2013. ADJOURN Hearing no further discussion or action, Chair Snyder adjourned the Special Community Redevelopment Agency- CRA) meeting at 3:20 p.m. - - E SHANNON SNYDER, CHAIR - Vocya PAMELA MNADALINI, SECRETARY Book 3 Page 31802 03/03/14 2:30 P.M.