TO: CRA Board of Commissioners
FROM: Lori Hayward, Finance and Operations Director
THROUGH: Jeff Costello, CRA Executive Director
DATE: September 11, 2018
Title
CRA FINANCIAL REPORT - JULY 2018
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Recommended Action:
Recommendation
Receive and File.
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Background:
Attached are the July 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 July:
1. West Atlantic Redevelopment-Land Acquisition (G/L #5115)- Payments totaling $759,615 were made for the following:
• Purchase of property located at the northeast corner of W. Atlantic Avenue & NW 11th Avenue - $497,865
• Purchase of property located at 51 NW 9th Avenue - $259,950
• Global Environmental Services- $1,800
1. Downtown-DB-Master Plan- OSS Facility (CIP) (G/L #5201) - A payment in the amount of $18,570 was made to the City of Delray Beach for sod replacement for OSS Park.
2. Downtown-DB-Master Plan- (TIF) - OSS Building Maintenance (G/L #5202) - A payment in the amount of $372,574 was made to the City of Delray Beach for a new HVAC system for OSS buildings.
3. Downtown-DB-Master Plan- South FL Transit-Oriented Development (G/L #5233) - A payment in the amount of $10,000 was made to the City of Delray Beach for planning services by the Treasure Coast Reginal Planning Council associated with the future Delray Beach Tri-Rail Coastal Link station.
4. Downtown-DB-Master Plan- Project Development/Implementation (CIP) (G/L #5239) - A payment in the amount of $11,669 was made to Calvin, Giordano & Associates for engineering services associated with the sewer main design at NE 3rd Street & NE 3rd Avenue.
5. Redevelopment Sites-Maintenance (G/L #6303)- Payments totaling $16,488 were made to the following vendors for maintenance services at CRA properties:
• Sod Unlimited, Inc.- $10,959
• Brad’s Roofing Company, Inc.- $3,500
• Ray Graeve & Sons Construction, Inc.- $1,300
• Miscellaneous Expenses- $729
6. Affordable/Workforce Housing- Eagle Nest Program- (G/L #6545) - A payment in the amount of $50,000 was made to the City of Delray Beach for the Eagle Nest Program in partnership with the Palm Beach County School District.
7. Downtown Marketing Cooperative-DBMC (G/L #7321) - A fourth quarter payment in the amount of $88,978 was made to the DBMC.
8. Community Resource Enhancement-A-Guide Funding- (G/L #7376) - Second quarter A-GUIDE payments totaling $321,500 were made to the following nonprofit organizations:
• Creative City Collaborative- $68,750
• EPOCH- $27,750
• Old School Square-$225,000
9. Economic Development Initiative- Warehouse/Arts Incubator - (G/L #7440) - Payments for totaling $17,171 were made to the following:
Arts Incubator Operation Expenses $14,498
• Salaries & Benefits- $12,171
• Advertising & Communication- $51
• Program Expenses- $838
• Building/Facility Supplies- $238
• Utilities-$936
• Telephone/Internet- $450
Arts Warehouse Maintenance Expenses $2,814
• Roof Repair - $873
• Sprinkler System Inspection - $1,411
• Alarm Expenses - $530
Attachment(s): Exhibit A - July 2018 Financial Statements
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