TO: CRA Board of Commissioners
FROM: Lori Hayward, Finance and Operations Director
THROUGH: Renée Jadusingh, Esq., Executive Director
DATE: September 10, 2019
Title
CRA FINANCIAL REPORT - JULY 2019
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Recommended Action:
Recommendation
Receive and File.
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Background:
Attached are the July 2019 Financial Statements [1] Statement of Net Assets and [2] Statement of Activities with Budget vs. Actual (YTD). Below are highlights of significant activities that occurred during the month of July:
1. Tax Increment Financing (TIF)-TIF-City of Delray Beach- (G/L #4005) - A payment of $65,827 was made to the City of Delray Beach as a result of a decrease in the final taxable value from the Palm Beach Property Appraiser’s office for FY 18-19.
2. CRA Administration Sources- Reimbursement-City (G/L #4700) - Reimbursements that total $236,986 included:
• Venetian/Gleason Intersection Project- $211,216
• Economic Development Staff 3rd quarter (50%) - $25,770
3. Downtown-DB-Master Plan-OSS Facility (G/L #5201) - A payment in the amount of $17,800 was made to the City of Delray Beach for SOD replacement.
4. SW Neighborhood Plan-Meritt Park Playground & Poured-in-Place Surf (CIP) (G/L #5355) - A payment in the amount of $198,447 was made to the City of Delray Beach for Playground equipment.
5. SW Neighborhood Plan-Block 63 Alley (CIP) (G/L #5360) - A payment in the amount of $296,358 was made to the City of Delray Beach.
6. Redevelopment Projects-NW 5th Avenue Alleys (CIP) (G/L #6206) - A payment in the amount of $223,084 was made to the City of Delray Beach.
7. Redevelopment Sites-Maintenance (G/L #6303) - Payments totaling $16,812 were made to the following:
• Zimmerman Tree Service - $2,235
• Sod Unlimited, Inc. - $11,174
• Carson Fence- $2,600
• Waste Management, Inc.- $671
• Lowe’s - $421
• Island Air Conditioning - $230
• Miscellaneous - $91
• Adjustments to the account - ($610)
8. Carver Square - Corey Isle Housing Construction (G/L #6621) - Payments totaling $48,574 were made to the following:
• BG Group, LLC - $22,600
• Mathews Consulting Company - $10,525
• Pacifica Engineering Services, LLC - $6,985
• Brooks + Scarpa Architects, Inc. - $6,829
• Pasquale Kuritzky Architecture, Inc. - $1,635
9. Community Imp. & Economic Develop-Site Assistant Grant (G/L #7306) - Grant payments totaling $50,657 were made to the following:
• Access Development Properties, LLC - $13,535
• Illustrated Properties, LLC - $37,122
10. Community Resource Enhancement-A-Guide Funding (G/L #7376) - A-GUIDE payments totaling $142,250 were made for the following:
• EPOCH (4th quarter) - $27,750
• Delray Beach Public Library (3rd quarter) - $114,500
11. Office Space-Maintenance (G/L #8307) - Payments totaling $168,492 were made to the following:
• Modern House & Building Movers (this will be reassigned to Capital Outlay with the next budget amendment) - $129,420
• Hatcher Construction & Development, Inc. - $34,450
• Sod Unlimited, Inc. - $1,625
• Miscellaneous - $498
Attachment(s): Exhibit A - July 2019 Financial Statements