TO: CRA Board of Commissioners
FROM: Christine Tibbs, Assistant Director
THROUGH: Renée A. Jadusingh Esq., Executive Director
DATE: February 25, 2020
Title
REVISED INTERLOCAL AGREEMENT BETWEEN THE CITY AND CRA FOR FUNDING THE NE 3RD AVENUE/STREET PROJECT- FY 2019-2020
Body
Recommended Action:
Approve the Interlocal Agreement (ILA) between the City and the CRA for funding for the NE 3rd Avenue/Street Capital Improvement Project within the CRA District for Fiscal Year 2019-2020.
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Background:
The implementation of many of the projects contained in the Community Redevelopment Plan, particularly the public infrastructure projects resulting from the adopted Neighborhood and Redevelopment Plans, require a joint City/CRA effort. The typical arrangement involves the CRA funding all or a portion of the project, and the City’s Engineering or other staff overseeing the bidding and construction processes. Each year the City and CRA enter into interlocal agreements to formalize the CRA’s commitment to fund specific projects.
On October 1, 2019, the CRA Board approved two ILAs between the City and the CRA for funding the General Capital Improvements Projects and the NE 3rd Avenue/Street Project within the CRA District for Fiscal Year 2019-2020.
At the December 10, 2019, City Commission meeting, the NE 3rd Avenue/Street Project was discussed. During that discussion, the City stated that based on the updated cost estimates, additional funding would be needed. The CRA had previously committed funding $1,000,000.00.
On January 28, 2020, the CRA Board revised the General Capital Improvements Projects ILA to reflect changes to the projects list and the amount of funding needed for each project. As a result of those changes, additional funding was made available to reallocate to other projects. Subsequently, the CRA Board discussed the NE 3rd Avenue/Street Project and directed staff to reallocate $651,298.21 of the available additional funding to the NE 3rd Avenue/Street Project.
At this time, the funding for the NE 3rd Avenue/Street Project is being revised. Strikethroughs represent a change in the CRA Funding due to actual project costs. The revised funding is as follows:
|
NE 3rd Avenue/ Street Project Funding and Costs |
|
Funding Source |
Funding Commitment |
|
Revised CRA Commitment to City |
$1,651,298.21 |
|
CRA Commitment to Developer |
$250,000.00 |
|
Water/Sewer Network (City) |
$90,571.35 |
|
Stormwater Administration (City) |
$62,819.66 |
|
Total Funding |
$2,054,689.22 |
Funds will be transferred to the City at the time that a contract is awarded.
CRA staff is bringing this item before the CRA Board for approval. After which, the ILA will be brought before the City Commission.
Attachment(s): Exhibit A - Revised ILA for NE 3rd Avenue/Street Project
CRA Attorney Review:
The CRA Attorney has reviewed the revised ILA to form and determined it to be acceptable.
Finance Review:
Finance has reviewed the revised ILA and determined it to be acceptable.
Funding Source/Financial Impact:
Funding allocated in General Ledger # identified above in the FY 2019-20 CRA Budget.