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 - JUNE 2019
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Recommended Action:
Recommendation
Receive and File.
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Background:
Attached are the June 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 June:
1. Ground Lease-Prime Hotel, LLC (Fairfield Inn) (G/L #4250) - Revenue of $83,953 was received per the ground lease agreement, which is 2% of gross room sales for the previous 12-month period.
2. Downtown-DB-Master Plan-NE 3rd St/Avenue/Alley Improvements (CIP) (G/L #5251) - Payments totaling $28,312 were made to Calvin Giordano & Associates, Inc. for NE 3rd Street Sewer and Parking for the Artist Alley improvements.
3. Redevelopment Sites-Property Insurance (G/L #6310) - A payment in the amount of $26,154 was made to Florida Municipal Insurance Trust.
Attachment(s): Exhibit A - June 2019 Financial Statements