[CALL TO ORDER]
[00:00:04]
AND I'M GOING TO CALL THIS BAYFRONT COMMUNITY REDEVELOPMENT AGENCY BUDGET WORKSHOP TO ORDER.
WE'LL WE'LL BEGIN WITH A PLEDGE OF ALLEGIANCE LED BY MR JOHNSON.
THE FLAG. FELIX UNITED STATES OF AMERICA.
BAYFRONT CRA ATTORNEY PATRICIA SMITH HERE.
THANK YOU. ANY PUBLIC COMMENTS? NO CHAIR. THANK YOU.
WE ARE ON ITEM NUMBER ONE NEW BUSINESS, MADAM.
[NEW BUSINESS]
NANCY. THANK YOU.THIS IS THE FISCAL YEAR 2024 PROPOSED BUDGET OF THE BAYFRONT CRA.
YOUR CURRENT BUDGET FOR 2023 IS 2,394,530.
WE ESTIMATED, BASED ON LAST YEAR, A 12% INCREASE.
SO WE HAVE BASED THE FY 2024 ON A $2,681,874 BUDGET.
THE BUDGET ALLOCATES FOR 484,174 FOR EXPENDITURES OF THAT, WE ESTIMATED 477,740 FOR AN AD VALOREM TAX ABATEMENT FOR NORTH SHORE DEVELOPMENT.
SO IN OUR BUDGET MEETINGS WILL PROBABLY REMOVE THAT FROM THE FROM THE BUDGET.
SO CURRENTLY THAT LEAVES AN ESTIMATED REMAINING BALANCE OF ABOUT 2.2 MILLION.
AND SO IN ACCORDANCE WITH THE INTERLOCAL AGREEMENT BETWEEN BREVARD COUNTY AND THE CITY OF PALM BAY AND THE BAYFRONT CRA, WHICH WAS EXECUTED ON OCTOBER 8TH, 2019, THE CRA IS PROHIBITED FROM INCURRING ANY NEW DEBT WHICH PLEDGES THE TAX INCREMENT FUNDS AND PROHIBITS THE CRA FROM EXPENDITURE OF ANY OF THE FUNDS WHICH ARE NOT CONTRACTUALLY OBLIGATED OR OTHERWISE REQUIRED BY LAW.
SO IF I'M AVAILABLE, IF YOU HAVE ANY QUESTIONS ON THE BUDGET.
SO I DO HAVE A QUESTION REGARDING NORTH SHORE IN THAT COMMERCIAL.
WHAT IS THEIR DEADLINE? HAVE SOMETHING UP TO HAVE A CONSTRUCTION BOND TO THE CITY AS WELL AS COMPLETION OF THE COMMERCIAL PARCELS BY JUNE 1ST, 2023.
OKAY. AND WE DON'T WE DON'T HAVE ANY TRACTION ON THAT.
WE'RE NOT WE'RE NOT CURRENTLY JUST GRASP.
NO, WE HAVE WE DO HAVE COMMUNICATIONS.
WE FOLLOWED UP WITH THEM BACK IN DECEMBER, SEVERAL MONTHS AGO.
I MEAN, WE KNOW THE TIME FRAME AND COMMERCIAL IS GOING TO TAKE SEVERAL MONTHS TO CONSTRUCT.
THEY MENTIONED THAT SOME OF THE SLOW SLOWDOWN WAS BECAUSE A LOT OF THE TENANTS WANT TO SEE ALL OF THE COMMERCIAL, THE RESIDENTIAL BUILT. AND SO THAT'S WHERE THEY'RE LOOKING AT.
SHAW IS UNDER CONSTRUCTION AND SO.
JUST HAVEN'T BEEN ABLE TO FIND THE TENANTS TO BE ABLE TO MOVE FORWARD.
AND SO IF THEY DON'T MEET THAT DEADLINE, THERE'S NO EXTENSION.
THANK YOU. THAT THAT ENDS MY QUESTION.
YES. UM, CAN YOU GIVE ME AN IDEA ON THE ON THE COMMERCIAL SIDE? ARE WE TALKING HOW MANY SQUARE FEET? I WAS TALKING TO DANIELLE EARLIER, SO I KNOW KIND OF WHERE IT'S GOING TO GO, BUT WE'RE TALKING FIVE BUSINESSES, TEN BUSINESSES, SIX PARCELS, SIX PARCELS.
THANK YOU. I CAN GET YOU THE ACTUAL SQUARE FOOTAGE, BUT I DON'T HAVE THAT.
JUST KIND OF CURIOUS WHAT IT'S GONNA LOOK LIKE.
THE ACTUAL JUST FOR YOUR INFORMATION, IT WAS ACTUALLY $423,289.
AND $0.49 IS WHAT THEY WOULD HAVE GOTTEN.
MR.. WEINBERG. YEAH. JUST A FOLLOW UP ON THAT, NANCY.
HAVE THEY ACTUALLY STARTED CONSTRUCTION ON THE COMMERCIAL BUILDINGS? SO THEY HAVEN'T SO OBVIOUSLY THEY'RE NOT GOING TO HAVE IT COMPLETED IN TIME FOR THE JUNE DEADLINE.
SO WE CAN COUNT ON THAT, THAT MONEY BEING ADDED BACK INTO THE.
WE EVER MADE EXCEPTIONS FOR AN EXTENSION AT THE LAST MINUTE.
REMEMBER. NOT SINCE I'VE BEEN ON THIS BOARD WHERE WE ARE.
RIGHT. WHICH THAT WAS YOU ALREADY.
I FEEL LIKE WE WERE MORE THAN GRACIOUS, UM, WITH WORKING WITH NORTH SHORE TOWARDS THIS.
[00:05:05]
SO AS FAR AS I SEE, THIS IS MONEY BACK IN THE BUDGET.SO, WELL, THE COMMERCIAL ASPECT WOULD HAVE BEEN PLEASING FOR THE CORRIDOR AND IT IS DISAPPOINTING.
NO. THEY DID SUBMIT FOR SITE PLAN BACK IN DECEMBER.
SO THEY DID MEET THAT DEADLINE.
YES. ALL RIGHT. THANK YOU, MA'AM.
ANY OTHER QUESTIONS? ANY OTHER QUESTIONS? OKAY.
WE NEED A MOTION TO ACCEPT THE BUDGET.
SEEING NONE, THIS MEETING IS ADJOURNED.
THANK YOU.
* This transcript was compiled from uncorrected Closed Captioning.