TO: Margate CRA Chair and Members of the Board
FROM: Cale Curtis, CRA Executive Director
DATE: November 8, 2023
Title
AMENDING FISCAL YEAR 2022-2023 AND FISCAL YEAR 2023-2024 ANNUAL BUDGETS; PROVIDING FOR AN EFFECTIVE DATE
BACKGROUND: The MCRA annual budget for FY 2023-2024 was approved by the MCRA Board at the MCRA meeting held on September 13, 2023. With the close-out of the MCRA FY 2022-2023 budget, there was a remaining of $4,266,007.87 in the Operating Fund (140 accounts). In accordance with Section 163.387(7) Florida Statutes, these funds have to be carried over to the current fiscal year’s funds budget and allocated to specific redevelopment projects and programs.
Attached are the budget amendments for fiscal years 2021-2022 and 2022-2023.
FY 2022-2023 includes a proposed amendment for the allocation of additional funds towards the following existing Capital Projects:
• Margate Boulevard Improvement Project
• Southgate Boulevard/State Road 7 Median Improvement Project
• Stormwater Improvement Project
• Wayfinding Signage
Newly Proposed Capital Projects:
• Transportation/Mobility Study - Major CRA Corridors
o Planning study (master plan) to identify issues and recommend long term mobility improvements.
• Coral Gate Park Improvements
o Replace lighting (courts, playground, walkways)
o Re-sod/Landscape entire park
o Playground upgrades, as needed
o Court upgrades, as needed
o Security cameras
o Park identification sign (electronic marquee)
RECOMMENDATION: Approval
FISCAL IMPACT: The fiscal impact of the budget amendment for each Fund is detailed in Exhibit A and Exhibit B to the resolution, all of which are attached.
CONTACT PERSON: Cale Curtis, CRA Executive Director