TO: CRA Board of Commissioners
FROM: Lori Hayward, Finance and Operations Director
THROUGH: Renée Jadusingh, Esq., Executive Director
DATE: August 13, 2019
Title
CRA FINANCIAL REPORT - MAY 2019
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Recommended Action:
Recommendation
Receive and File.
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Background:
Attached are the May 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 May:
1. Tax Increment Financing (TIF)-TIF-County- (G/L #4010) - A payment of $55,476 was made to Palm Beach County as a result of a decrease in the final taxable value from the Palm Beach Property Appraiser’s office for FY 18-19.
2. West Atlantic Redevelopment-Land Acquisition (G/L #5115) - Payments totaling $29,645 were made to the following:
· Appraisal Services for four properties- $6,045
· BG Group, LLC - Clear 10 vacant lots for Corey Isle Workforce Housing Project (A journal entry was completed in July to reclassify the expense to G/L #6621 Corey Isle Workforce Housing Project budget expense line) - $22,600
· Deposit for acquisition of 106 NW 10th Avenue & NW 3rd Street - $1,000
3. West Atlantic Redevelopment-W Atlantic Redevelopment (G/L #5140) - Payments totaling $31,536 were made to Goren, Cherof, Doody & Ezrol, PA for legal fees which includes $18,568 for negotiations with BH3 Management, LLC.
4. Downtown-DB-Master Plan-Downtown Trolley (G/L #5230) - A second quarter payment in the amount of $114,901 was made to the City of Delray Beach for the trolley services.
5. Redevelopment Projects-98 NW 5th Avenue Renovation (G/L #6208) - Payments totaling $18,795 were made to Synalovski Romanik Saye for architectural services.
6. Redevelopment Sites-Maintenance (G/L #6303) - Payments totaling $13,906 were made to the following:
· RSG- $1,720
· Sod Unlimited, Inc. - $12,144
· Carson Fence- $273
· Raymond Graves $ Sons Construction- $2,735
· Waste Management, In...
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