TO: Margate CRA Chair and Members of the Board
FROM: Cale Curtis, CRA Executive Director
DATE: July 11, 2024
Title
APPROVAL TO SUBMIT A FORMAL LETTER TO BROWARD COUNTY REGARDING THE SUNSET OF THE MCRA IN 2027
BACKGROUND: In 2021, Broward County sent the MCRA a letter advising that the MCRA would expire on August 13, 2026. The MCRA contends that the 30-year operational term would end in August 2027, i.e., 30 years from the date of the first MCRA plan adoption in 1997 versus its creation date in 1996. The time for the tolling of the 30-year operational timeframe should have begun in 1997 when the initial MCRA Plan was adopted and run through 2027.
The MCRA has had several meetings/discussions with Broward County during the past year about the sunset date. Recently, the MCRA Attorney engaged in back-and-forth discussions with the Broward County Attorney’s Office with regards to extending this date to 2027. The MCRA has been advised to submit a formal letter to the County Administrator, advising Broward County of its intent to collect a final TIF payment in 2026 and sunset the MCRA in August of 2027. Included in the contents of the letter should be a financial accounting of the MCRA funds to date and a statement as to the intended purpose for those funds.
The Executive Director/City Manager is requesting authorization from the Board to send this letter to the County Administrator.
RECOMMENDATION: For Board approval
FISCAL IMPACT: N/A
CONTACT PERSON: Cale Curtis, CRA Executive Director