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File #: 18-0240 CRA    Version: 1 Name:
Type: CRA Report Status: Agenda Ready
File created: 2/6/2019 In control: Community Redevelopment Agency
On agenda: 2/12/2019 Final action:
Title: CRA FINANCIAL REPORT - OCTOBER 2018
Attachments: 1. Agenda Cover Report, 2. Exhibit A - CRA Financial Statements October 2018
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TO:                                           CRA Board of Commissioners

FROM:                       Lori Hayward, Finance and Operations Director

THROUGH:                      Jeff Costello, CRA Executive Director

DATE:                      February 12, 2019

 

Title

CRA FINANCIAL REPORT - OCTOBER 2018

 

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Recommended Action:

Recommendation

Receive and File.

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Background:

Attached are the October 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 October:

 

1.                     Reimbursement-Other (G/L #4750) - Reimbursements totaling $19,363 were received from the following:

                     Property insurance payment for the Palm Manors Apartments from the Delray Beach Community Land Trust- $12,022

                     Property tax refund from Palm Beach County - $7,341

 

2.                     West Atlantic Redevelopment-Land Acquisition (G/L #5115) - Payments totaling $137,108 were made for the following:

                     Purchase of 246 NW 8th Avenue- $84,301

                     Purchase of 21 SW 13th Avenue- $52,512

                     Allied Appraisals Services, Inc.- $295

 

3.                     Redevelopment Projects- Property Insurance (G/L #6310) - A payment of $23,254 was made to FMIT for property insurance on CRA property.

 

4.                     Community Resource Enhancement-A-Guide Funding- (G/L #7376) - A first quarter A-GUIDE payment in the amount of $27,750 was made to EPOCH.

 

5.                     Debt Service-City National Line of Credit (G/L #8608)- A payment was made in the amount of $29,373.

 

Attachment(s): Exhibit A - October 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