Submitted By: Tye Chighizola
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Presentation By: Tye Chighizola
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Department: Growth Management
STAFF RECOMMENDATION (Motion Ready):
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Approve Ocala Community Redevelopment Agency (CRA) FY 2021 Annual Report
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OCALA’S RELEVANT STRATEGIC GOALS:
Economic Hub.
PROOF OF PUBLICATION:
N/A
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BACKGROUND:
Section 163.371 of the Florida Statues specifies the annual reporting requirements for CRAs. A community redevelopment agency must file an annual report with the county or municipality that created the agency and publish the report on the agency’s website. The report must include the following information:
1. Audit - The most recent complete audit report of the redevelopment trust fund as required in Florida Statute 163.387 (8).
2. Performance data for CRA including the:
1.Total number of projects started and completed and the estimated cost for each project.
2.Total expenditures from the redevelopment trust fund.
3.Original assessed real property values within the community redevelopment agency’s area of authority as of the day the agency was created.
4.Total assessed real property values of property within the boundaries of the community redevelopment agency as of January 1 of the reporting year.
5.Total amount expended for affordable housing for low-income and middle-income residents.
3. Plan Goals & Objectives - A summary indicating the extent to which the community redevelopment agency has achieved the goals and objectives set out in its community redevelopment plan.
The above three items are addressed in two separate documents.
Document 1 - Audit In previous years, the CRA audit and financial statements were done as a part of the City’s Comprehensive Annual Financial Report (CAFR). Starting in FY 2020, the CRA had a stand-alone, independent audit performed. The independent audit will be reviewed by the Audit Committee.
Document 2 - Performance Data & Plan Goals & Objectives These two items are contained in the attachment, Ocala CRA FY 2021 Annual Report, which highlights the CRA activities and achievements.
FINDINGS AND CONCLUSIONS:
The CRA must prepare an Annual Report according to Section 163.371 of the Florida Statues. The independent financial audit will be reviewed by the Audit Committee. The Annual Report document meets the requirements set forth for performance data and CRA Plan consistency.
FISCAL IMPACT:
There is no fiscal impact as a result of adopting this Annual Report.
PROCUREMENT REVIEW:
N/A
LEGAL REVIEW:
N/A
ALTERNATIVE:
• Approve
• Approve with Changes
• Deny