HomeMy WebLinkAbout03-23-2016 CRA Agenda w CouncilRecess Citv Council Meetina and Convene as Board of Adiustment
A. Call to Order and Roll Call
20-22 B. Approval of Minutes — January 27, 2016 (Excerpt of Minutes)
23-41 C. Quasi -Judicial Public Hearing, (Staff Report, Bldg Director Memo, Photos, Maps,
LaCasse Response, Application)
Linda Lacasse, in Regards to Lots 4 & 5, Block 304, Sebastian Highlands Unit 13,
Located at 1643 Coral Reef Street, is Requesting a Variance to Install a 288 Square
Foot Shed on the Property Where There is an Existing 890 Square Foot Detached
Accessory Structure, for a Combined Total of 1178 Square Feet of Accessory
Building Area, Whereas the Code Allows for a Maximum of 1000 Square Feet Total
D. Adjourn Board of Adjustment Meeting
8. Convene as Communitv Redevelopment Aqencv
A. Call to Order and Roll Call
40-42 B. Approval of Minutes — February 24, 2016 (Excerpt of Minutes)
43-58 C. Fiscal Year 2015 CRA Annual Report in Accordance with 163.356(3)(c ) Florida
Statutes — Accept and Forward to City Council (Finance Director Transmittal,
F.S.163.356(3)(c), Report)
D. Adjourn Community Redevelopment Agency Meeting
9. RECONVENE AS CITY COUNCIL
10. CONSENT AGENDA
All items on the consent agenda are considered routine and will be enacted by one motion. There will be no separate
discussion of consent agenda items unless a member City Council so requests; in which event, the item will be removed and
acted upon separately. If a member of the public wishes to provide input on a consent agenda item, he/she should request a
Council Member to remove the item for discussion prior to start of the meeting or by raising his/her hand to be recognized.
59-73 A. Approval of Minutes — February 24, 2016 Regular Meeting
74-82 B. Approval of Minutes — March 2, 2016 Special Meeting
16.044 C. Resolution No. R-16-06 — Authorizing City Manager Re: Transfer of Leasehold
83-110 Assets Between Cooper Trading Corp. Inc. dba Sebastian Aero Services and Fishe
Flying Corp. (Transmittal, R-16-06, Cooper Trading Letter, 2000 Sebastian Aero
Lease and Amendments, Transfer to Cooper Trading 7/10/10)
A RESOLUTION OF THE CITY OF SEBASTIAN, INDIAN RIVER COUNTY, FLORIDA, AUTHORIZING
THE CITY MANAGER TO REPRESENT THE CITY OF SEBASTIAN IN THE SALEITRANSFER OF
LEASEHOLD ASSETS BETWEEN COOPER TRADING CORPORATION dba SEBASTIAN AERO
SERVICES AND FISHE FLYING CORP., PROVIDING FOR CONFLICT; PROVIDING FOR AN
EFFECTIVE DATE.
16.045 D. Accept Community Redevelopment Agency (CRA) 2015 Annual Report of Activities
111-126 as Required by FS and Announce Availability of Document to Public (Transmittal,
Annual Report)
Regular City Council/CRA Meeting
February 24, 2016
Page Five
8. Recess City Council Meeting and Convene as Communitv Redevelopment Aqency
A. Mayor McPartlan recessed the City Council Meeting and called the CRA Meeting to
order at 6:44 p.m.
Roll Call:
CRA Members Present
Mayor Bob McPartlan
Vice Mayor Jerome Adams
Council Member Andrea Coy
Council Member Hill
Council Member Gillmor
B. Approve January 27. 2016 Minutes — Excerat from Council Minutes
MOTION by Mr. Hill and SECOND by Mayor McPartlan to approve the 1/27/16 minutes.
Roll Call: Ayes: McPartlan, Adams, Coy, Hill, Gillmor Nays: None Passed: 5-0
C. Award Facade. Sian and Grant to Caot. Hiram's. 1606 Indian River Drive, 50% of the
Cost up to $7.500 (Transmittal, FSL Grant Funds Summarv, Summary of Staff
Review Meeting. Application. Backup)
Dorri Bosworth presented staff report on the Captain Hiram's FSL Grant application to
change out panels on their existing sign with new colors and updated logo, a new fence, a
new sign for the new hotel building which will open this weekend, and replace an awning.
She cited staff review to determine if it met FSL grant intent which is to remove blighted non-
conforming signs, noting Hiram's had received a grant in 2008 to replace non -conforming
signs. She said staff felt that the request for $15K did not quite meet all grant requirements
but that since they were going to be updating the site they would leave it up to the CRA to
review, agreed with the committee, but thought $7,500 was a fair grant.
The City Manager said staff is recommending approval.
MOTION by Mr. Hill and SECOND by Mayor McPartlan to award Captain Hiram's 50% of
the cost at $7500 for sign refacing, new signage, fencing at hotel and awning replacement.
Tom Collins, Captain Hiram's, said they are constantly upgrading the property, believed
some of the signs were conforming but needed updating, are putting a fence up and
replacing an awning that is kind of dilapidated, at a cost of $35K to $40K, so he talked to
staff, noting they are big taxpayers, their taxes help to fund the CRA, and it would be helpful
to them to upgrade.
Damien Gilliams, 1623 U.S. 1, asked are we back at this again, Council knows the intent of
the program, we have septic tanks that are polluting the river and you have business people
looking for welfare that does not meet the intent of what the CRA stands for and it is
despicable. He said if they approve this and continue to let our river be polluted and not get
some of our businesses off septic systems, then the whole purpose of the program is a
sham and a sludge fund. He said the parking the City put in with CRA money is being torn
up, for it to be sent by staff is an insult, and Mr. Collins should be ashamed.
E
Regular City Council/CRA Meeting
February 24, 2016
Page Six
r Vice Mayor Adams said he could not see how staff could recommend this for a grant when
they themselves admitted it really doesn't meet the criteria to be awarded a grant and their
signs are not non -conforming, the grant is there to help people who have non -conforming
signs and bring them into compliance with our code and not to redo a conforming sign or
build a new fence. He said he did not think it meets the requirements.
Mr. Hill said we have given grants for new properties and new construction, citing a grant for
Tire Kingdom, and this should have been considered within the confines of the grant and
brought forward to CRA for a decision. He said in regard to the $7500 being discussed, and
the bloviating about us wasting money on beautification for businesses, which is what the
FSL grant is all about, and not doing enough for the lagoon, we actually have money
specifically set aside to help people get off septic. He said the true intent of the grant is
beautification of the riverfront district, money being poured into this property by the owner
benefits the City, and it is reasonable to provide some of the tax dollars they are generating
on their property in the CRA to specifically go back to businesses, and more than
reasonable for them to ask for a matching grant. He said enjoys the river and Sebastian all
the time, and staff did a good job of providing a recommendation on this.
Mr. Gillmor said the only sign he sees that meets the criteria, agreeing with Mr. Hill that we
have done signs for new business, is the new sign K on page 32 of the agenda packet. He
asked Ms. Bosworth if there were figures on the cost for that. She responded the total
amount was $26K and that they are not broken apart. Mayor Gillmor asked if we have had
similar signs come through here for about $7K to $9K, and Ms. Bosworth said yes,
monument signs. Mr. Gillmor said he would have trouble paying for the whole sign, and
said that would be the only part that meets criteria for FSL grants, agrees with Vice Mayor
Adams, and would have a problem with $7500.
Ms. Coy said there are new signs on page 32, page 33, and page 34, plus a new business
name, though she understands some of his point, but we are not giving even a 50% grant,
for a total cost of $26,000. She said many times we have redone monument signs when
someone went out of business, said with a new business name the amount is apportionate.
She said we have separate money for sewer that we are very generous with and every year
there is $100K sitting out there, and the speaker received some of that to redo their
business, and this is separate CRA money for Fagade, Sign and Landscape.
McPartlan was in agreement with $7500 for new signs and updating signs.
Roll Call: Ayes: Coy, Hill, McPartlan Nays: Adams, Gillmor Passed: 3-2
D. Consider Mooring Field Cost Estimates (Transmittal, Estimates)
The City Manager said he was instructed in January to bring forward cost estimates for a
mooring field, the City Engineer worked up the numbers and they are in the packet.
Mayor McPartlan said he cannot see the City getting into the mooring business, wanted to
see the numbers, and if someone wants to do it a public/private partnership and get into the
mooring business and bring it back to us, God bless them. Members of Council agreed.
Vice Mayor Adams said this amount of money could be used elsewhere, this is not a priority
and we should not get involved, even if there is a public/private partnership.
`- 6
Regular City Council/CRA Meeting
February 24, 2016
Page Seven
Tom Collins said discussion of mooringfields started man ears ago around the time of the
YY 9
2004 storms, when boats damaged property and he thought mooring fields would help. He
said the numbers seem kind of high, this is not a money maker, just an effort to control the
boats, and maybe ten years from now it might make some sense. He thanked them for their
consideration, said perhaps the Working Waterfront people might want to get involved in it,
and he will work with the Coast Guard to regulate the anchored boats.
Ben Hocker, Sebastian, said he believes there is $18,000 still budgeted for mooring fields
and if so it should be used for the bulkhead at the Yacht Club which is deteriorating.
9. Adiourn Communitv Redevelopment Aciencv Meetina and Reconvene as Citv Council
Mayor McPartlan adjourned the CRA Meeting and reconvened the City Council Meeting at
7:05 p.m. All Members of Council were present.
10. CONSENT AGENDA
A. Approval of Minutes — February 10, 2016 Regular Meeting
16.020 B. Authorize the Execution of Letter Regarding City Clerk Sally Maio Voluntary Early
Retirement Incentive Program Benefit (Transmittal, Letter)
16.021 C. Authorize the Purchase of One Tractor from Deere & Company Under the State of
Florida Contract #2100000-15-1 in the Amount of $90,026.58 and One
Boom/Ditcher/Mower from Ring Power Corporation Under Florida Sheriffs
Association Contract #15-13-0904 in the Amount of $72,860 (Transmittal, Quotes,
Contracts, Pictures)
16.137 D. Authorize CSA-6 With MBV Engineering, Inc. Continuing Services Agreement to
Provide Surveying, Engineering, and Structural Design Services for New Police
Evidence Building In the Amount of $27,500 (Transmittal, Scope)
MOTION by Ms. Coy and SECOND by Mr. Hill to approve the consent agenda.
Roll Call: Ayes: Hill, McPartlan, Gillmor, Adams, Coy Nays: None Passed: 5-0
11. COMMITTEE REPORTS & APPOINTMENTS
16.138 A. Natural Resources Board
(Transmittal, Applications, Ad, List)
i. Interview, Unless Waived,
Member Position — Term
Member Position
Submit Nominations for One Unexpired Regular
to Expire 7/1/2017 With Option to Fill Alternate
The Deputy City Clerk reported that the only other applicant, Rachel Jussaume, had
withdrawn, leaving only alternate Vicki Tunker. Ms. Tunker was appointed to fill the regular
position to expire 7/1 /2017.
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arYOF
RAto i'
HOME OF PELICAN ISLAND
SEBASTIAN COMMUNITY REDEVELOPMENT AGENCY, FLORIDA
AGENDA TRANSMITTAL FORM
CRA MEETING DATE: March 23, 2016
AGENDA ITEM TITLE: Acceptance of the Annual Sebastian CRA Report
RECOMMENDATION: Move to accept the Annual Sebastian CRA Report.
BACKGROUND:
Florida Statutes require the Community Redevelopment Agency to file a report of activities to
the primary government by March 31 of each year and publish in the newspaper a notice of
availability of the report.
The annual Sebastian Community Redevelopment Agency report of activities for the fiscal year
ending September 30, 2015 was prepared by the Administrative Services Director and is also
scheduled to be accepted by the City Council.
Following acceptance by the City Council, the City Clerk will publish in the newspaper a notice
of the Report's availability.
IF AGENDA ITEM REQUIRES EXPENDITURE OF FUNDS:
Total Cost: None
Amount Budgeted in Current FY: NIA
If Cost Requires Appropriation: NIA
Amount of Appropriation Required: None
Fund to Be Utilized for Appropriation: NIA
Administrative Services Department Review: I
ATTACHMENTS: Annual Sebastian CRA Report
City Manager Autho 'zation:
Date: X. &
SEBASTIAN
COMMUNITY REDEVELOPMENT AGENCY
ANNUAL REPORT
Under Chapter 163.356(3)(C)
CWOF
w►w►,r+s� .�.n.w�,rr
HOME OF PELICAN ISLAND
FOR i m; FISCAL YEAR ENDED
SEPTEMBER 30, 2015
1225 MAIN STREET
SEBASTIAN, FLORIDA 32958
SEBASTIAN
COMMUNITY REDEVELOPMENT AGENCY
ANNUAL REPORT
TABLE OF CONTENTS
Letter of Transmittal
List of Principal Officials
History
Exhibit I - Sebastian CRA Boundary
Accomplishments
FY 2014 Sebastian CRA Activities
ii
K3
3
Tax Increment Revenues 4
Exhibit II — Operating Millage Rates in Redevelopment Area 5
Exhibit III — Taxable Value in Redevelopment Area 6
Exhibit IV — Tax Increment Revenue 7
Financial Statements 8
Balance Sheet 9
Statement of Revenues, Expenditures, and Changes in Fund Balances 10
Budget and Actual 11
aTYOF
HOME OF PELICAN ISLAND
March 15, 2016
Sebastian Community Redevelopment Agency Board Chairman and Members
City of Sebastian, Florida
Dear Board Members:
We are pleased to submit the Annual Activity Report of the Sebastian Community
Redevelopment Agency for the fiscal year ended September 30, 2015. Section
163.356(8)(C), Florida Statutes, requires each CRA to file with its governing body, on or
before March 31 each year, a report of its activities for the proceeding fiscal year, which
report shall include a complete financial statement setting forth its assets, liabilities,
income, and operating expenses as of the end of such fiscal year. In addition to meeting
this legal requirement, the report provides additional information concerning the benefits
afforded by the agency to other jurisdictions and citizenry in general.
Responsibility for both the accuracy of the presented data and the completeness and
fairness of the presentation, including all disclosures, rests with the management of the
City. We believe the data, as presented, is accurate in all material respects, and that all
disclosures necessary to enable the reader to gain an understanding of the Sebastian
CRA's operation and financial activity have been included.
Respectfully submitted,
Kenneth W. Killgore
Administrative Services Director
LIST OF PRINCIPAL OFFICIALS
Chairman
Board Member
Board Member
Board Member
Board Member
September 30, 2015
ll
Richard Gilmore
Jerome Adams
Andrea Coy
Bob McPartlan
Jim Hill
History of the Sebastian Communitv Redevelopment A2encv (Sebastian CRA)
The Sebastian Community Redevelopment Agency (Sebastian CRA) was created in 1995 by the
City of Sebastian City Council under Chapter 163, Part III of the Florida Statutes. The original
Sebastian CRA includes an area generally east of the FEC Railroad right-of-way to the eastern City
limits. The Sebastian CRA was established to ensure that the downtown and surrounding vicinity
would develop with a coherent community vision, and to encourage reinvestment throughout the
CRA. The area later was expanded in 2003 to include the Sebastian Boulevard "Triangle" area west
of the FEC Railroad right-of-way. The total Sebastian CRA area is 299 acres excluding road rights -
of -way (Exhibit 1).
The governing body of the Sebastian CRA is the Sebastian City Council. The Board is comprised of
five (5) members. Under the State Statutes and the City ordinances, the Sebastian CRA has
substantial powers and authority within the Sebastian CRA area. These include the power to make
and execute contracts, to acquire and dispose property, to approve development plans, to implement
a program of voluntary or compulsory rehabilitation of buildings, to mortgage its property, to
borrow and invest money, and to apply for and accept grants and contributions.
The major funding source for the Sebastian CRA is tax increment revenue. Tax increment revenue
is the increase in ad valorem tax attributed to the increase in the assessed value over a `base year"
for various jurisdictions in the redevelopment area. The jurisdictions remitting tax increment
revenue to the Sebastian CRA are the City of Sebastian and the Indian River County Board of
County Commissioners.
After the establishment of the Sebastian CRA in 1995, the City established the Redevelopment
Trust Fund and the base year for tax increment revenues as well as adopted the 1995 Community
Redevelopment Plan. The boundary was later expanded to include the adjacent Sebastian Boulevard
"Triangle" area in 2003, and the redevelopment plan was also modified by the Iler Planning Group
on behalf of the Sebastian CRA. The 2003 plan basically unifies the 1995 Sebastian CRA boundary
and the expansion area as one cohesive CRA, and presents conceptual district recommendations,
potential policy amendments, and capital improvements intended to meet the City's redevelopment
goals.
Legend
. i
atew mot~• ' '- `, _,__ _� CRA Boundary
M at
Gateway Treatment
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Ile
i *' '.•'► Riverside Drive
Streetscapes and
Pocket Parks
Areawide Recommendations
1. Retain 2-3 story maximum building - �2
• Scsta r. eW
height. Mafia Street sap
;---� - Activity center
2. Modify community design guidelines to
reinforce *Old Florida
Fishing Village" design theme.
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3. Future study to further address parking i; j `z "ttlITL
';;needs in the CRA !�'':il. US 1 Stxcetsrape
eanital Improvements ;
F.csissencanents
and "Build to
1. Riven►iew Paris improvements. ._.._ i.... _ .._..
2. Streetscape improvements to US-1, _ i.•: f '; ° i �,
Riverside Drive, and SebastianS.
Boulevard (east and westbound). '
Riverview Park
' ", j',','�"j• "j v� Activity Center
3. Reconfigure boat trailer parking. �5etise. , t . • _ , .
Bouleiard N,f : �`• " 4 ��
Triats Te'Afts' - F '.�
4. Develop a stormwater park. i� licit use
^ Potential CRA
i Espanuaa to
.4;�1 etc! 4lb n 1 j } • '
! • ��• � 'rntsrove r'
14 'verview Park
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..�1•Yl'!�!.. .,.f ..T_ (fir i
�:,t•.wiw 7�p,7 @.N �. .••fit✓ -\' v`'�� as..+c .,. __.
0 lip
'�' 1 t i I III : f! ���..._....• ._.._..�+
Gateway Gateway
Treatment �� - 'rreatment i SLY
Redevelopment Plan Summ•ary Mar)
City of Sebastian CRA _
i SJOASrggIJ.
,�,.,, Kimley-Fbm and Associates, Inc. Figure I KC"E W nucm BLUM
Accomplishments of the Sebastian Community Redevelopment Aeencv (Sebastian CRA)
Since the establishment of the original Sebastian CRA in 1995, numerous projects have been
accomplished. Accomplishments are as follows:
❑ Provided annual funding support to festivities such as Riverfront Christmas decorations,
Clam Bake festival, fine art festival, concert in the park, and Pelican Island celebration since
the year 2000.
❑ Completed Riverview Park Phase I, boat dock, landscaping, and shoreline stabilization
project in 2001.
❑ Developed community redevelopment master plan in 2003.
❑ Completed Jackson Street extension, sidewalk, and street light project in 2004.
❑ Completed improvements to the Yacht Club.
❑ Completed construction on the Indian River Drive/Main Street project.
❑ Established a Fagade, Sign and Landscaping matching grant program.
❑ Received contribution from the Clambake Foundation and provided the balance of funding
for the Flag Pole project, which enhanced the view at the western entrance to the CRA area.
❑ Designed billboard advertisements and rented billboards on Highway I-95.
❑ Contributed $20,000 to a film production about the story of Pelican Island.
❑ Constructed information boards at Riverview Park and at the Park at Indian River
Drive/Main Street.
o Updated the CRA Master Plan in 2010.
❑ Completed construction on the Yacht Club finger pier project.
❑ Provided matching funds to the Stan Mayfield Grant that was used for the purchase of the
Working Waterfront Properties.
❑ Executed lease with Crab E. Bills for a commercial retail fish market and a retail
commercial limited food service "Eatery".
❑ Established a Sewer Connection Grant Program to encourage reduction of seepage into the
Indian River Lagoon.
❑ Completed roadway improvements to the Presidential Streets.
FY 2015 Sebastian CRA Activities
The Sebastian CRA is treated as a special revenue fund of the City. An independent financial audit
by an external CPA firm has been accomplished annually to be in compliance with Section
163.387(8), Florida Statutes. An annual budget is also adopted by the Sebastian CRA Board to be
in compliance with Section 189.418(3). Major activities and accomplishments of the Sebastian
CRA in 2015 included:
❑ Provided financial support for the clam bake, concert in the park events and fine art festival.
❑ Provided funding for Holiday decorations.
❑ Completed construction of roadway improvements to the Presidential Streets.
❑ Made necessary repairs to the Working Waterfront properties.
❑ Replaced picnic tables and benches at Riverview Park.
❑ Allocated funds to improvements to the CavCorp property.
3
Tax Increment Revenue
The tax increment revenue is determined annually as 95 percent of the difference between: (a) the
amount of ad valorem taxes levied each year by each taxing authority contributing to the Sebastian
CRA on taxable real property contained within the redevelopment area, exclusive of the following
entities:
Florida Inland Navigation District
Indian River County Mosquito Control District
Indian River County Hospital Maintenance District
School District, and associated General Obligation Debt funded by ad valorem taxes
Indian River County Land Acquisition Bond General Obligation Debt
Emergency Services Dependent Taxing District
St. Johns River Water Management District
Sebastian Inlet Taxing District
and (b) the amount of ad valorem taxes which would have been generated by the rate at which the
tax is levied each year by the taxing authority, exclusive of the following entities:
Florida Inland Navigation District
Indian River County Mosquito Control District
Indian River County Hospital Maintenance District
School District, and associated General Obligation Debt funded by ad valorem taxes
Indian River County Land Acquisition Bond General obligation Debt
Emergency Services Dependent Taxing District
St. Johns River Water Management District
Sebastian Inlet Taxing District
upon the total of the assessed value of the taxable real property in the community redevelopment
area as shown on the assessment roll used by each taxing authority prior to March 22, 1995, the
effective date of the ordinance creating the Redevelopment Trust Fund. Indian River County Board
of County Commissioners and the City of Sebastian currently make tax increment payments into the
Sebastian CRA Trust Fund.
4
The actual implementation of the tax increment financing was delayed until FY 2001. The City's
millage has decreased from $5.00 per $1,000 in FY 2001 to $3.8556 per $1,000 in FY 2015. The
millage for Indian River County has been decreased from $4.1014 per $1,000 in FY 2001 to
$3.3375 per $1,000 in FY 2015. Rates from 2001 through 2014 are presented in Exhibit II below.
Exhibit IV
Sebastian Community Redevelopement Agency
Tax Increment Revenue
Indian
City
River
of
Fiscal Year
County
Sebastian
Total
2001
$42,373
$511,656
$949029
2002
899664
1011,625
1919289
2003
879877
10410157
1929034
2004
1149289
136,705
250,994
2005
1262886
1609753
2879639
2006
160,051
178,786
338,837
2007
2822546
270,195
552,741
2008
252,885
2502499
503,384
2009
2517236
2731,888
5251124
2010
2063,450
2235585
430,035
2011
143,720
153,900
2979620
2012
123,248
131,821
255,069
2013
120,886
145,437
2661,323
2014
1271,169
1442891
2722060
2015
1371,535
158,885
2961,420
Tax Increment Revenue
$600,000
$500,000
$400,000 - - -
$300,000 -
$200,000 -- - - - - - - m T
A�
- - --�- -
$100,000 - --:-
$o T T T T T
ZOp120p'L2�p320pAZ�p520p620p120pBZOp92��02���201ZZ0�32��420�5
Fiscal Year
Source: City of Sebastian Administrative Services Department
5
The taxable value of real property in the redevelopment area has risen significantly during the same
period. In FY 2001 the total taxable value of the redevelopment area was $45.8 million. Compared
to FY 2015 total taxable value of $84.9 million, the taxable value of the redevelopment area has
increased by 85.3%. After subtracting the base year values, the 2015 incremental value has
increased almost four times the 2001 value. The taxable values in redevelopment area from 2001
through 2015 are presented in Exhibit III below.
Exhibit III
Sebastian Community Redevelopement Agency
Taxable Value in Redevelopment Area
% Change in
Taxable
Base Year
Incremental
Incremental
Fiscal Year
Value
Value
Value
Value
2001
$45,8345920
$343,95%870
$1 %875,050
2002
585263,740
34,95%870
23,3031870
114.29%
2003
5858443,190
34595%870
23,8841320
2.49%
2004
66,307,980
3459599870
31,348,110
31.25%
2005
7854243,554
41,561,980
361862,574
17.59%
2006
8994182550
41,5619980
479856,570
29.82%
2007
134,7553,060
4115619980
939193,080
94.73%
2008
12997003,130
41105619980
88,1381,150
-5.42%
2009
1279735,740
41,561,980
86,173,760
-2.23%
2010
1119909,020
41,561,980
7%3473,040
-18.37%
2011
9%5333980
41,561,980
483,972,000
-30.39%
2012
83,5583,060
41,561,980
413,9967080
-40.30%
2013
82,7531,350
41,561,980
41,1913,370
-15.89%
2014
82,5981,780
41,561,980
411,036,800
-2.28%
2015
8419399810
41,561,980
43,3771830
5.31%
Tax Increment Values
100.0
90.0
80.0
0 70.0
0 60.0
'~ 50.0 — —
40.0
30.0
-
20.0
10.0
0.0..:e
V131 2002 oo" 200°` To05 2006 TOOT ,, v09 ZO,\o 20A12012 Z0�3 201� 20�5
Fiscal Year
Source: City of Sebastian Administrative Services Department
6
Based on the millage rates and the significant increases in taxable values, the tax increment revenue
has risen dramatically. In 2001, the total tax increment revenue was $94,029. In 2015, the tax
increment revenue has increased to $296,420 but this is a 46.4% decrease from the high year of
2007. The tax increment revenues for the redevelopment area for the Fiscal Year 2001 through 2015
are presented in Exhibit IV below.
Exhibit IV
Sebastian Community Redevelopement Agency
Tax Increment Revenue
Indian
City
River
of
Fiscal Year
Countv
Sebastian
Total
2001
$42,373
$51,656
$94,029
2002
89,664
101,625
191,289
2003
87,877
104,157
192,034
2004
114,289
136,705
250,994
2005
126,886
160,753
287,639
2006
160,051
178,786
338,837
2007
282,546
270,195
552,741
2008
252,885
250,499
503,384
2009
251,236
273,888
525,124
2010
206,450
223,585
430,035
2011
143,720
153,900
297,620
2012
123,248
131,821
255,069
2013
120,886
145,437
266,323
2014
127,169
144,891
272,060
2015
1379535
158,885
296,420
Tax Increment Revenue
$500,000 Ell
;
$400,000-
$300,000-
`l T� _
$200,000
J'
$100 000
$j1- � ��. II'I.� !� ICI � ti• `^ im
ul �SY���` I
i
Fiscal Year
(1) The revenues include the triangle area, which was added in the redevelopment area
in 2003.
Source: City of Sebastian Administrative Services Department
Financial Statements
VA
The Sebastian CRA is considered a blended component unit of the City and therefore it is included
in the City's annual financial audit. In order to meet the requirement of Section 163.387(8), Florida
Statutes, which requires the CRA to provide for annual audit of the redevelopment trust fund, the
Sebastian CRA has been treated as a major fund of the City. The financial statements included
herein are unaudited statements of the Sebastian CRA. Audited statements are included in the City's
Comprehensive Annual Financial Report (CAFR) for the fiscal year ending September 30, 2015 and
may be obtained in the City Clerk's office 1225 Main Street, Sebastian, Florida or online at
htty://www/citvofsebastian.orp-.
P
�J
Sebastian Community Redevelopment Agency, Florida
Balance Sheet
September 30, 2015
Unaudited
ASSETS
Cash and cash equivalents
Investments
Total assets
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable
Total liabilities
Fund balances:
Restricted
Total fund balance
Total liabilities and fund balance
Go
$ 3582515
96,706
$ 4559221
$ 8,493
8,493
4462728
446,728
$ 455,221
Sebastian Community Redevelopment Agency, Florida
Statement of Revenues, Expenditures, and Changes in Fund Balances
For the Year Ended September 30, 2015
Unaudited
REVENUES:
Taxes:
Property
$ 2965420
Investment earnings
12890
Other revenue
362000
Total revenues
334,310
EXPENDITURES:
Current:
General government
2,568
Economic environment
161,545
Capital outlay:
Captial outlay
26,096
Total expenditures
1909209
Excess (deficiency) of revenues over (under) expenditures 144,101
OTHER FINANCING USES:
Transfers out
(773,427)
Total other financing uses
(773,427)
Net changes in fund balance
663,674
Fund balance - beginning
380,054
Fund balance - ending
$ 446,728
10
Sebastian Community Redevelopment Agency, Florida
Schedule of Revenue, Expenditures, and Changes in Fund Balances
Budget and Actual
For the Year Ended September 30, 2015
Unaudited
REVENUES:
Taxes:
Property
Investment earnings
Other revenue
Total revenues
EXPENDITURES:
Current:
General government
Economic environment
Capital outlay
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
OTHER FINANCING USES
Transfers out
Total other financing (uses)
Net changes in fund balances
Fund balances - beginning
Fund balances - ending
Actual
Variance with
Budget Amounts
Amounts on
Final Budget -
a Budgetary
Positive
Original
Final
Basis
(Negative)
$ 287,844
$ 2879844
$ 2969420
$ 89576
718
718
19890
19172
36,000
363,000
369000
-
324,562
3243,562
3341310
99748
21,500
2,500
2,568
68
2689135
274,869
161,545
(113,324)
-
26,266
26,096
(170)
2709635
303,635
190,209
(113,426)
53,927
20,927
144,101
1231,174
(1602000)
(3389774)
(771,427)
2611,347
(1609000)
(3381,774)
(771,427)
2611,347
(106,073)
(317,847)
663,674
3849521
380,054
380,054
380,054
-
$ 2731,981
$ 621,207
$ 4465,728
$ 3849521
11