TO: CRA Board of Commissioners
FROM: Lori Hayward, Finance and Operations Director
THROUGH: Renée A. Jadusingh, Esq., Executive Director
DATE: July 23, 2020
Title
CRA FINANCIAL REPORT - MAY 2020
Body
Recommended Action:
Recommendation
Receive and File.
Body
Background:
Attached are the May 2020 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. County TIF (G/L #4210) - A payment of $17,435 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 19-20.
2. Ground Lease-Prime Hotel, LLC (Fairfield Inn) (G/L #4250) - Revenue of $71,853 was received per the ground lease agreement, which is 2% of gross room sales for the previous 12-month period.
3. Downtown-DB-Master Plan-Transportation Services (G/L#5230) - Payments totaling $50,268 for transportation services were made as follows:
• First Transit- $49,968
• Miscellaneous: $300
4. Osceola Neighborhood Plan/Osceola Park Neighborhood (CIP) (G/L #5510) - A payment of $4,552,280 was made to the City of Delray for the Osceola Park Neighborhood project.
5. Affordable/Workforce Housing Program- A-GUIDE Funding -DBCLT (G/L #6535) -
A quarterly payment in the amount of $68,424 was made to the Delray Beach Community Land Trust.
6. Community Resource Enhancement/ A-GUIDE Funding - (G/L #7376) -A quarterly payment of $10,000 was made to the Delray Beach Chamber of Commerce.
Attachment(s): Exhibit A - May 2020 Financial Statements
Finance Review:
Reviewed and prepared by Lori Hayward, CRA Finance & Operation Director.