TO: CRA Board of Commissioners
FROM: Lori Hayward, Finance and Operations Director
THROUGH: Jeff Costello, CRA Executive Director
DATE: June 11, 2018
Title
FINANCIAL REPORT - MARCH 2018
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Recommended Action:
Recommendation
Receive and File.
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Background:
Attached are the March 2018 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 March:
1. Reimbursement- City (G/L #4700) - A reimbursement in the amount of $28,732 was received from the City of Delray Beach for the Economic Development positions.
2. West Atlantic Redevelopment-Land Acquisition (G/L #5115) - Payments totaling $28,100 were made to the following Vendors:
• $24,750 - Frederico, Inc.- Demolition of the structures located at 26 & 36 SW 6th Avenue.
• $1,950 - Global Environmental Services - Environmental Assessments for 51 NW 9th Avenue and 15 NW 11th Avenue.
• $1,400 - Allied Appraisal Services, Inc. - Market value appraisal report for 98 NW 5th Avenue.
3. West Atlantic Redevelopment-Project Develop/Implementation (G/L #5120)- A payment in the amount of $10,522 was made to Redevelopment Management Associates, consultant for the proposed RFQ/P for SW 600-900 Blocks on West Atlantic Avenue. In addition, in-kind construction services of $2,466 were provided by Hatcher Construction & Development, Inc. for improvements to the leased space at 710-714 West Atlantic Avenue, which resulted in a credit to the monthly rent payment per the lease agreement between the CRA and Hatcher Construction & Development, Inc.
4. Downtown-DB-Master Plan- S FL Transit (G/L #5233) - A payment in the amount of $20,000 was made to the City of Delray Beach for the Transit Oriented Development planning services.
5. SW Neighborhood Plan-SW 3rd Ct, SW 4th St, 6th St, 7th Ave- Reconst. (CIP) (G/L #5351) A payment in the amount of $48,988 was made to the City of Delray Beach for additional engineering services for project design.
6. Redevelopment Sites-Maintenance (G/L #6303) - Payments totaling $13,420 were made to the following vendors for maintenance services at CRA properties:
• Sod Unlimited, Inc. - $9,714
• JDL Electrical & Generator Services, LLC - $1,120
• Hulett Environmental Services, Inc. - $450
• Raymond Graeve & Sons Construction, Inc. - $1,272
• Miscellaneous - $864
7. Redevelopment Sites-Property Insurance (G/L #6310) - A payment in the amount of $42,994 was made to Florida Municipal Insurance Trust.
8. City Contractual Services- Code Enforcement Officer (NW/SW Neighborhoods) (G/L #7332) - A first quarter payment in the amount of $16,415 was made to the City of Delray Beach for the Code Enforcement Officer assigned to the NW/SW Neighborhoods of The Set.
9. Debt Service-Debt Bond Interest-Taxable Int (G/L #8610) - A payment was made in the amount of $51,592.
Attachment(s): March 2018 Financial Statement
CRA Attorney Review:
N/A
Finance Review:
Reviewed and prepared by Lori Hayward, CRA Finance & Operation Director.
Funding Source/Financial Impact:
N/A
Timing of Request:
N/A