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File #: 18-0635 CRA    Version: 1 Name:
Type: CRA Report Status: Agenda Ready
File created: 8/17/2020 In control: Community Redevelopment Agency
On agenda: 8/25/2020 Final action:
Title: CRA FINANCIAL REPORT - JUNE 2020
Attachments: 1. Agenda Cover Report, 2. Exhibit A - FinStmt - June 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:                      August 25, 2020

 

Title

CRA FINANCIAL REPORT - JUNE  2020

 

Body

Recommended Action:

Recommendation

Receive and File.

 

Body

Background:

Attached are the June 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 June:

 

 

                     Redevelopment Sites (G/L #6310) - A property insurance payment of $27,745 was made for CRA-owned properties.

 

                     Affordable/Workforce Housing Program/ Subsidies (G/L #6506) - Based on the CRA Board Meeting on June 23, 2020, the board approved to forgive a $50,000 loan make to the Delray Beach Community Land Trust for the acquisition of the property located at 309 SW 5th Avenue.  The next Budget Amendment (No. 3) will include a budget line for G/L #6512-Support for Affordable Housing Initiatives and this expense will be reclassed to that expense account.  

 

                     Community Resource Enhancement/ A-Guide Funding - (G/L #7376) - A quarterly A-GUIDE funding payment of $25,000 was made to the Delray Beach Historical Society.

 

                     Economic Development Incentives- (G/L #7415) - An annual Development Infrastructure     

Assistance (DIA) incentive program reimbursement payment of $43,162 was made to KCMCL Pineapple Grove, LLC (Hyatt Place Hotel).

 

Attachment(s): Exhibit A - June 2020 Financial Statements

 

CRA Attorney Review:

N/A

 

Finance Review:

Reviewed and prepared by Lori Hayward, CRA Finance & Operation Director.

 

Funding Source/Financial Impact:

N/A