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File #: 18-0277 CRA    Version: 1 Name:
Type: CRA Report Status: Agenda Ready
File created: 3/6/2019 In control: Community Redevelopment Agency
On agenda: 3/12/2019 Final action:
Title: CRA FINANCIAL REPORT - DECEMBER 2018
Attachments: 1. Agenda Cover Report, 2. Exhibit A- CRA Financial Statements December 2018
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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TO: CRA Board of Commissioners
FROM: Lori Hayward, Finance and Operations Director
THROUGH: Jeff Costello, CRA Executive Director
DATE: March 12, 2019

Title
CRA FINANCIAL REPORT - DECEMBER 2018

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Recommended Action:
Recommendation
Receive and File.

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Background:
Attached are the December 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 December:
1. Tax Increment Financing-TIF-City of Delray Beach (G/L #4005) - Fiscal year 2018-2019 TIF revenue in the amount of $13,061,154 was received from the City of Delray Beach.

2. Tax Increment Financing - TIF- Palm Beach County (G/L #4010) - Fiscal year 2018-2019 TIF revenue in the amount of $9,236,945 was received from Palm Beach County.

3. CRA Administration Sources-City National LOC (G/L #4400) - A final draw of $1,950,000 was made from the CRA’s Line of Credit with City National Bank.

4. CRA Administration Sources- Reimbursement-Other (G/L #4750) - Reimbursements that total $24,611 included:
· FMIT reimbursement for FY 2016-2017 insurance premium- $10,135
· DBCLT reimbursement to the CRA for property insurance for Palm Manor and the SW 12th Avenue Duplexes- $13,934
· Property tax reimbursement- $542

5. Redevelopment Sites-Maintenance (G/L #6303) - Payments totaling $36,869 were made to the following vendors for maintenance services:
· Sod Unlimited, Inc. - $28,571
· From Green to Greener, Inc. - $2,230
· Island Air Conditioning - $230
· Waste Management Inc.- $231
· Carson Fence- $547
· Raymond Graves & Sons Construction- $4,500
· Hulett Environmental Services, Inc.- $450
· Miscellaneous - $110

6. Redevelopment Sites-Property Insurance (G/L #6310) - A second payment for fiscal year 2018-2019 in the amount of $26,154 was made to Florida Municipal Insurance Trust.

7. Debt Service-City-US1 Corridor Improvements (G/L #8606)- A loan payment in the ...

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