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File #: 18-0629 CRA    Version: 1 Name:
Type: CRA Report Status: Agenda Ready
File created: 7/21/2020 In control: Community Redevelopment Agency
On agenda: 7/28/2020 Final action:
Title: CRA FINANCIAL REPORT - MAY 2020
Attachments: 1. Agenda Cover Report, 2. Exhibit A - FinStmt- May 2020
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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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.