SUBJECT/RECOMMENDATION:
Title
Approve an Interlocal Agreement between the Downtown Development Board and the Clearwater Community Redevelopment Agency to provide personnel, administrative and management services during Fisal Year 2024-2025 in an amount of $87,309, refund the CRA Tax Increment fee of $381,027, and authorize the appropriate officials to execute same.
Body
SUMMARY:
Florida Statute 163.387 requires that all taxing authorities within a Community Redevelopment Area (CRA), which includes the Downtown Development Board (DDB), to make an annual appropriation in the amount equal to the incremental increase in the ad valorem revenue within the boundaries of the CRA. The DDB’s increment payment for FY 2024-2025 is $381,027, according to the Pinellas County Property Appraiser’s office.
The CRA Trustees executed the first Interlocal Agreement in Fiscal Year 1999-2000 to provide personnel, administrative, and management services to the DDB and to refund the difference between the increment payment and the management fee.
Pursuant to Florida Statute 163.01, the CRA and DDB can enter into this agreement in which the DDB agrees to perform certain responsibilities and functions including funding projects and programs consistent with the Downtown Redevelopment Plan.
The intent of this agreement is for the DDB and CRA to continue to work collaboratively on projects and programs that further the goals and objectives for downtown.
The DDB shall pay the CRA $87,309 for the services agreed to in the Interlocal Agreement.
STRATEGIC PRIORITY:
2.3 Promote Clearwater as a premier destination for entertainment, cultural experiences, tourism, and natural sporting events.
3.1 Support neighborhood identity through services and programs that empower community pride and belonging.
