SUBJECT/RECOMMENDATION:
Title
Approve Third Quarter Budget Amendments to Fiscal Year 2023-2024 North Greenwood Community Redevelopment Agency Budget and adopt CRA Resolution 24-01.
Body
SUMMARY:
The North Greenwood Community Redevelopment Area was approved May, 2023. The major highlights of the Third Quarter Budget Amendments are:
REVENUES
$3,000,000 transferred in from the General Fund
$156,641 in Increment Revenue from Pinellas County
$190,848 in Increment Revenue from City of Clearwater
Operating budget for the remainder of FY 23/24 is to assist with the start up of the North Greenwood Community Advisory Committee. This proposed budget also includes $90,426 in a percentage of salaries for the CRA Executive Director and CRA staff.
Transfers out designates the funding this fiscal year that will be allocated to fund various Projects in North Greenwood:
General Fund
• R2401, Residential Improvement Project $500,000 GF
o Residential Exterior Improvement Program
o Hire an organization to implement homeownership education programs
• R2402, Business Improvement Project $1,100,000 GF
o Commercial Enhancement or Recruitment Grant Program
o Pinellas County ED Small Business Technical Assistance
• R2403, Carlton Ave Rehab $500,000 GF
• R2404, Public Infrastructure $700,000 GF
o Curtis Museum
o Lighting along sidewalk and trails
o Shade and amenities to sidewalk and trails
• R2405, Public Art & Culture $200,000 GF
o Memorials
o Public Art
City Increment
• R2406, Housing $76,422
County Increment
• R2407, Housing-County $78,321
• R2408, Mobility-County $78,320
Pinellas County Increment funds are restricted to capital improvements projects specifically outlined in the North Greenwood Community Redevelopment Area Plan as Affordable Housing, Mobility, and Economic Development.
STRATEGIC PRIORITY:
