TO: Chair and Members of the Board
FROM: Jeffrey Oris, Executive Director
DATE: August 20, 2019
Title
FY 2019-2020 CRA BUDGET
Body
BACKGROUND:
At the last MCRA meeting, the Board requested more detail on the proposed FY 2020 MCRA Budget.
The following narrative is presented to provide some of the requested detail though it is not intended to be a full explanation of the draft proposed MCRA FY 2020 budget but instead is designed to give some detail as to major allocations contained within the current draft.
The hiring of a new Executive Director will result in recommendation for some re-prioritization and possible elimination of projects/programs and inclusion of new projects into the budget based on the redevelopment program outlined in the Community Redevelopment Plan. However, the Executive Director has not had sufficient time to assess the current conditions, needs, and effectiveness of projects and programs and thus, will most likely not be suggesting any major adjustments to the draft budget prior to the need for its adoption.
The following is additional detail on revenues and appropriations contained in the proposed budget for discussion purposes (Please note this item is for discussion only, a final budget for the Board's approval will be presented in September):
ESTIMATED REVENUES:
Based on information provided by the Broward County Property Appraiser , the CRA estimates total Increment Revenues of the CRA to be $7,588,542.
REQUESTED APPROPRIATIONS
The CRA has proposed a budget based on continuing past activities of the CRA and new activities which the Board has indicated a desire to undertake.
Operating Expenses:
City Offsets: This number encompasses the cost of all personnel undertaking activity on behalf of the CRA. It also includes the cost to the City for support to the CRA. Such support includes the costs associated with cutting checks, handling bids for CRA projects, agenda preparation and distribution costs, staffing of...
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