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Home My WebLink About03-18-2020 CRA Agenda Carried ForwardMarch 18, 2020 CRA Meeting was carried forward to the June 24, 2020 Meeting Stormwater Utility customers may receive a credit for constructing, operating and maintaining a stormwater facility on their property. Customers seeking a credit must submit all required information no later than June 1, 2020 to be eligible for a Stormwater Utility fee credit. Applications can be obtained and should be submitted to the City of Sebastian Community Development Department, 1225 Main Street, Sebastian, Florida or visit our website at www.citvofsebastian.orq. Please review the application for information on types of facilities that may be considered for a stormwater credit 8. PUBLIC INPUT The heading on Regular Meeting agendas "Public Input" provides an opportunity for individuals to bring NEW INFORMATION OR REQUESTS TO CITY COUNCIL NOT OTHERWISE ON THE PREPARED AGENDA. Individuals are asked to attempt to resolve matters with staff prior to meetings. Individuals are asked to provide copies of material for Council one week prior to the meeting if they intend to refer to specific material. City Council will not debate an issue during Public Input but may by consensus direct a Charter Officer in regard to the item if necessary or place a requested item on a future agenda. 9. Recess Citv Council Meetina and Convene as Board of Adiustment A. Approve January 8, 2020 BOA Minutes Adooted Quasi -Judicial Public Hearina Procedures: • Chairman opens hearing • Attorney reads title of request • Board discloses ex-parte communication • City Clerk swears in all who intend to provide testimony • Applicant makes presentation • Staff presents findings and analysis • Board asks questions of the applicant and staff • Chairman opens the floor for anyone in favor of the request • Chairman opens the floor for anyone opposing the request • Applicant provided opportunity to respond to issues raised by staff or public • Staff provided opportunity to summarize request if needed • Board deliberation and questions • Chairman calls for a motion B. JOSEPH AND JULIA SCOZZARI, IN REGARDS TO LOTS 27 & 28, BLOCK 381, SEBASTIAN HIGHLANDS UNIT 11, LOCATED AT 1401 THORNHILL LANE, ARE REQUESTING VARIANCES TO ALLOW AN EXISTING DETACHED GARAGE LOCATED ON LOT 26 TO BE UNIFIED TO THEIR RESIDENTIAL PROPERTY. THE DETACHED GARAGE IS SETBACK 26.1 FEET FROM THE FRONT PROPERTY LINE, WHEREAS THE CODE REQUIRES ACCESSORY STRUCTURES TO BE LOCATED BEHIND THE FRONT SETBACK OF THE HOUSE, WHICH IS 29.8 FEET. THE DETACHED GARAGE IS 20 FEET IN HEIGHT, WHEREAS THE CODE REQUIRES ACCESSORY STRUCTURES NOT TO EXCEED THE HEIGHT OF THE HOUSE, WHICH IS 15 FEET. THE DETACHED GARAGE IS 1,728 SF IN SIZE, WHEREAS THE CODE REQUIRES ACCESSORY STRUCTURES NOT TO EXCEED 1,000 SF MAXIMUM. THE DETACHED GARAGE IS CONSTRUCTED OF YELLOW CORRUGATED METAL, WHEREAS THE CODE REQUIRES ACCESSORY STRUCTURES OVER 750 SF IN SIZE TO BE OF THE SAME COLOR AND MATERIALS OF THE HOUSE, WHICH IS GRAY STUCCO. (PJ Ad 3/4/2020) (Transmittal, Report, Ex A-F, Application, Notice)- 10. Recess Board of Adiustment and Convene as Communitv Redevelopment Agency 4 A. Approve February 26, 2020 CRA Minutes B. Fiscal Year 2019 CRA Annual Report in Accordance with F.S.163.371 - Accept and Forward to City Council (Transmittal, Report) 2 11. Adiourn Communitv Redevelopment Aaencv Meetina and Reconvene as Citv Council 4. - 12. 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. A. Approval of Minutes — February 12, 2020 Workshop & Regular City Council Meeting B. Approval of Minutes - February 26, 2020 Regular City Council Meeting 20.045 C. Fiscal Year 2019 CRA Annual Report in Accordance with F.S.163.371 - Acceptance by City Council (Transmittal, See Pages 45-61 for Report) 20.046 D. Resolution No. R-20-03 Abandonment of Rear Easements — Sebastian Highlands Unit 4, Lot 1, Block 121 (Transmittal, R-20-03, Site Map, Staff Report, Utility Approvals, Application) A RESOLUTION OF THE CITY OF SEBASTIAN, INDIAN RIVER COUNTY, FLORIDA, VACATING CERTAIN EASEMENTS OVER LOTS 1 AND 2, BLOCK 121, SEBASTIAN HIGHLANDS UNIT 4; PROVIDING FOR CONFLICTS HEREWITH; PROVIDING FOR RECORDING; PROVIDING FOR SCRIVENER'S ERRORS; PROVIDING FOR EFFECTIVE DATE. 20.047 E. Approve the Distribution of Sebastian Police Department Forfeiture Funds to the Substance Awareness Center in Accordance with FS 932.7055 (Transmittal, F.S.932.7055, Letters) 13. COMMITTEE REPORTS & APPOINTMENTS City committee reports and Council Member regional committee reports. No public input or action except for City committee member nominations and appointments under this heading. 20.048 A. Parks and Recreation Advisory Committee (Transmittal. AoDlication. Ad. List) i. Interview, Unless Waived, Submit Nominations for One Unexpired, Alternate Member— Position to Expire 5/31/2021 20.049 B. Natural Resources Board (Transmittal. AoDlication, Ad, List) I. Interview, Unless Waived, Submit Nominations for One Unexpired, Alternate Member— Position to Expire 7/1/2022 20.010 C. Integrated Pest Management Parks Update (Transmittal) 14. PUBLIC HEARINGS - None 15. UNFINISHED BUSINESS 20.038 A. Approve Concrete Services under the Concrete Construction Service Agreements with Tim Rose Contracting, Inc. for the New Pavement Culvert Replacement/Swale Regrading Capital Project — Not to Exceed $40,000 (Transmittal, Minutes Excerpt, Price Sheet) Regular City Council & CRA Meeting February 26, 2020 Page Five 7:07 pm She said the recall election is a legal process promulgated by the state of Florida and those concerned just have to show up and vote their own feelings. Mayor Dodd reported there was some vandalism to Council Member Gilliams' cars and the foyer of his real estate building which is unacceptable behavior. The individuals involved in the recall have the right to go through the process; everyone should respect that as well as respect those that don't want a recall. Council Member Gilliams said he was for the recall if it is justifiable but shame on those who come to his home and throw eggs on his vehicles and at his business. He said if people wanted to come to his home to meet, just call him but don't vandalize his property. 9. Recess Citv Council Meetinq and Convene as Communitv Redeveloament Agency A. MOTION by Council Member Hill and SECOND by Council Member Gilliams to approve the January 22, 2020 FebRlary 26, 2020 CRA minutes passed with a voice of 5-0. (Editor's note: February 26 was listed on the agenda but the January 22 minutes were provided for approval.) B. Septic to Sewer Grant Proaram i. Consider Grant Reauest for 1644 N. Central Avenue — Kelly Residence (Transmittal. Aoolication. Deed, Tax Receipt. Permit. Invoice) MOTION by Mr. Hill and SECOND by Mr. Gilliams to approve the grant request for 1644 N. Central Avenue. Roll call: Vice Chair Mauti - aye Mr. Gilliams - aye Mr. Hill - aye Ms. Parris - aye Chairman Dodd - aye Motion carried 5-0. Consider Grant Reauest for 1662 N. Central Avenue — Hall Residence (Transmittal. Aoolication. Deed. Tax Receipt, Permit, Invoice) MOTION by Mr. Gilliams and SECOND by Ms. Parris to approve the grant request for 1622 N. Central Avenue. Roll call: Mr. Gilliams - aye Mr. Hill - aye Ms. Parris - aye Chairman Dodd - aye Vice Chair Mauti - aye Motion carried 5-0. iii. Consider Grant Reauest for 1698 N. Central Avenue — Commercial (Transmittal. Aoolication. Deed. Tax Receiat. Permit. Invoice) Regular City Council & CRA Meeting February 26, 2020 Page Six 7:15 pm 10. 11. 20.037 20.038 MOTION by Mr. Hill and SECOND by Chairman Dodd to approve the grant request for 1698 N. Central Avenue. Roll call: Mr. Hill - aye Ms. Parris - aye Chairman Dodd - aye Vice Chair Mauti - aye Mr. Gilliams - aye Motion carried 5-0. iv. Consider Grant Reauest for 1805 Central Avenue — Sebastian Communitv Center (Transmittal. Application. Plat. Easement. Tax Receipt. Invoice) MOTION by Vice Chairman Mauti and SECOND by Mr. Gilliams to approve the grant request for 1805 N. Central Avenue. Roll call: Ms. Parris - aye Chairman Dodd - aye Vice Chair Mauti - aye Mr. Gilliams - aye Mr. Hill - aye Motion carried 5-0. v. Consider Grant Rea uest for 608 Davis Street —Nilsson Residence (Transmittal. ADDlication. Deed. Tax Receiot. Permit. Invoice) MOTION by Vice Chairman Mauti and SECOND by Mr. Gilliams to approve the grant request for 1805 N. Central Avenue. Roll call: Chairman Dodd - aye Vice Chair Mauti - aye Mr. Gilliams - aye Mr. Hill - aye Ms. Parris - aye Motion carried 5-0. Chairman Dodd adjourned the Community Redevelopment Agency meeting at 7:15 p.m. and reconvened the City Council meeting. CONSENT AGENDA A. Approve 2020/2021 Show Dates for Sebastian River Art Club at Riverview Park (Transmittal, Letter, Application) B. Approve Concrete Services under the Concrete Construction Service Agreements with Tim Rose Contracting, Inc. for the New Pavement Swale Regrading Project — Not to Exceed $40,000 (Transmittal, Minutes Excerpt, Price Sheet) HOME OF PELICAN ISLAND CRA BOARD AGENDA TRANSMITTAL Board Meeting Date: March 18, 2020 Agenda Item Title: CRA Annual Report Recommendation: Approval of CRA Annual Report in accordance with reporting requirements 163.371 F.S. Background: In accordance with Florida Statute 163.371, each Community Redevelopment Agency (CRA) shall file an annual report with the local government that created the agency and publish the report on the agency's website not later than March 3 1 " of each year. If Agenda Item Reauires Expenditure of Funds: /N//A I/( Administrative Services Department/CFO Review:, --I -h . I Attachments: 1. Sebastian CRA 2019 Annual Report City Manager Authorization: Date: J1//�a170 SEBASTIAN COMMUNITY REDEVELOPMENT AGENCY r_3..1W] w;] Under Chapter 163.371 CITY OF SE13AST!A q 4 HOME OF PELICAN ISLAND FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2019 1225 MAIN STREET SEBASTIAN, FLORIDA 32958 SEBASTIAN COMMUNITY REDEVELOPMENT AGENCY ANNUAL REPORT TABLE OF CONTENTS Letter of Transmittal List of Principal Official's History Exhibit I - Sebastian CRA Boundary Accomplishments FY 2019 Sebastian CRA Performance Activities Table I — Performance Activities 2019 Table II — Septic to Sewer Grant program ii 3 rd Tax Increment Revenues 6 Exhibit II — Operating Millage Rates in Redevelopment Area 7 Exhibit III — Taxable Value in Redevelopment Area 8 Exhibit IV — Tax Increment Revenue 9 Financial Statements 10 Balance Sheet 11 Statement of Revenues, Expenditures, and Changes in Fund Balances 12 Budget and Actual 13 CMOF SEBAST'N -_-�. HOME OF PELICAN ISLAND March 11, 2020 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, 2019. Section 163.371 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, A iza Frazier, AICP Community Development Director/CRA Manager City ofof Se Kenneth W. Killgore Administrative Services Director City of Sebastian i LIST OF PRINCIPAL OFFICIALS Chairman Vice Chairman Board Member Board Member Board Member September 30, 2019 ii Ed Dodd Charles Mauti Damien Gilliams Jim Hill Pamela Parris History of the Sebastian Communitv Redevelopment Aaencv (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 bounded on the north, south and east by the City limits as of 1995, and on the west by the FEC Railroad right-of-way. 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, which includes industrial and commercial land use. The total Sebastian CRA land area is approximately 398 acres (Exhibit 1). Excluding road rights - of -way, zoning and land use covers approximately 299 acres. The governing body of the Sebastian CRA is the Sebastian City Council. The CRA 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 property value over a set `base year" for the redevelopment area. The government 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, establishing a new base year for this area of the CRA. The redevelopment plan was also modified on behalf of the Sebastian CRA in 2003, unifying the 1995 Sebastian CRA boundary and the expansion area as one cohesive CRA. The Master Plan was again updated in 2010, presenting conceptual district recommendations, potential policy amendments, and capital improvements intended to meet the City's redevelopment goals. Termination of Sebastian CRA (F.S. 163.3755) A community redevelopment agency in existence on October 1, 2019, shall terminate on the expiration date provided in the agency's charter on October 1, 2019, or on September 30, 2039, whichever is earlier. Unless the governing body of the County or municipality that created the community redevelopment agency approves its continued existence by a majority vote of the members of the governing body, the Sebastian CRA shall sunset on September 30, 2039. CRA Annual Report 2019 Page 1 EXHIBIT I - SEBASTIAN CRA BOUNDARY MAP Coninimiijjtv) Redevelopment Area "M'C CI RULI'N W7 CITYOF SEBASTIANt Fl. �n _ pfT 16 'ram 4 INSIST i S fq b � � 9iyrxie br ' A.. u3fxn � mm 3T p 9xNy:a CRA Lana'Arna e 303 acre: TOTAL CRA LAND AREA 398 ACRES a b CFu ` Cmservauan o 'F4 R Area t � y 1C9 6CIG5 S � L err vAUlrrt�r L r.r.Y v.ixeR'� II,W �b O 3' "4l[ RWe di �f �_ fGSICA R] 4 i F g e y �.� 6 � a AV MA4G AY C YAUAasn ern" - y xAx3oix] � rMwn[tT` l l'.'1 USRRS.Y' R p a 6 y vyxna-tiI"\LA �,] 6JyfGCA! � 4 ag - ] g Aualnosu u....+� cR:Tar.x - nwaa»Sw 4 F �RO�'"r�Rr 9c Q - NOLSC:SAY e' 9 � y LNL AY ; s7y i k S' i • �� CUWIW AA'! E KAU5N! Rsraxa x. art wl 9 � � } on xnxrt RR WiKIM MaR =S CE _M9 N A CCa G mlwl5 CRA Annual Report 2019 Page 2 Accomplishments of the Sebastian Communitv Redevelopment Aeenev (Sebastian CRA) 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). The Sebastian CRA has continued to move towards achievement of the goals set out in the adopted Community Redevelopment Master Plan (2010). 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 Riverfrom Holiday decorations, Clam Bake festival, Fine Art Festival, concerts in the park, and the 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 intersection project. ❑ Established a Facade, 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. ❑ Contributed $20,000 to a fibre production about the story of Pelican Island. ❑ Constructed information boards at Riverview Park and at the Main Street Boat Ramp Park. ❑ 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 septic to sewer conversions and reduce pollution into the Indian River Lagoon. ❑ Completed roadway improvements to the Presidential Streets. ❑ Completed repairs to the CavCorp boat parking property. ❑ Completed a Riverfrom Parking Study in 2011. ❑ Establishment of the Parking -in -lieu program for parking within right-of-way of business district. ❑ Provided continued financial support for many events within the Riverfrom District that attract many participants, providing revenue to our local businesses including: Clam Bake, Shrimpfest, Concerts in the Park Series, and Fine Art Festival. ❑ Provided funding for Holiday decorations to enhance attraction to business district during holiday season. ❑ Continued funding grant programs that support public private projects including: the Septic to Sewer assistance program and the Facade, Sign and Landscape grant program. ❑ Funded necessary repairs to the Working Waterfront properties including: historic building repairs and dock maintenance. ❑ Initiated work on the CRA Master Plan update. ❑ Initiated work on the Landscape and Signage for the Working Waterfront and Riverfront District. ❑ Completed mapping of the Riverview Park that included: trees, sidewalks, parking, and event areas. ❑ Acquired property along the Indian River shoreline for preservation as an extension of public property. CRA Annual Report 2019 Page 3 FY 2019 Sebastian CRA Performance Activities Major activities and accomplishments of the Sebastian CRA in 2019 are shown in TABLE I and described below. ❑ Provided continued financial support for many events within the Riverfront District that attract many participants, providing revenue to our local businesses including: Clam Bake, Shrimpfest, Concerts in the Park Series, and Fine Art Festival. ❑ Provided funding for Holiday decorations to enhance attraction to business district during holiday season. ❑ Continued funding grant programs that support public private projects including: the Septic to Sewer assistance program (TABLE H) and the Fagade, Sign and Landscape grant program. ❑ Funded necessary repairs to the Working Waterfront historic property including: historic building repairs; new elastic coating roof; new plumbing and dock maintenance. ❑ Funded Submerged Land Leases for continued waterfront access and riverfront activities. ❑ Completed design work on the Landscape and Signage for the Working Waterfront and CRA District. ❑ Completed conceptual park design and canopy tree preservation plan for Riverview Park that included: trees, sidewalks, parking, and event areas. Sign Master Plan Working Waterfront Marketing and Events Business Assistance Programs Waterfront/Streetscape Maintenance & Improvement TABLE I — PERFORMANCE ACTIVITIES ACTIVITY I CRA PLAN REFERENCE I ACHIEVEMENT AMOUNT Design Page 21, 23, 31, 33 Complete $19,704.50 Design Page 21, 23, 31, 51 Complete $31,905.00 Preservation Repair Promotion FSL Grants S2S Grants Maintenance Page 20, 22, 31, 51 Page 23, 51 Page 24, 50, 51 Page 20, 23, 33, 37 On -going On -going On -going On -going 1 $43,785.85 1 $43,460.00 $111,244.75 $157,844.00 In addition to projects and programs funded by Sebastian CRA funds, the following projects were conducted within the CRA to further enhance and promote the Riverfrom Business District. ➢ Working Waterfront: parking and shoreline improvement design and permitting ➢ Indian River Drive improvements: cross walks, resurfacing, sidewalks ➢ CDBG 5-year Consolidated Plan: Housing rehabilitation program for low-income residents ➢ US Hwy 1 Corridor Enhancement Study CPA Annual Report 2019 Page 4 TABLE i CRA Septic to Sewer }}`T�nr. p 7pvit} ctober 1�2018 — Sedt�n _ Ir .:� i0 OWNER PROJECT PROJECT FUNDS ADDRESS DATE AWARDED 18-SSP-1 936 U.S. Highway 1 11/29/18 $15,000 936 Building LLC 18-SSP-2 1327 N. Central 4/23/19 $30,000 Sebastian Oaks Ave. 18-SSP-4 1206 U.S. Highway 4/29/19 $42,236.50 Robert & Ronna 1 Greason 18-SSP-5 710 Jackson St. 7/10/19 $45,000 Halo Rescue 18-SSP-6 698 Jackson St. 8/1/19 $5,099.00 Jerry & Marsha Hall 18-SSP-7 404 Indian River 1/30/19 $15,000 Jon & Harriet Dr. Balme 19-SSP-1 707 Jackson Street 9/11/19 $2,917.50 707 J LLC Total funds from IRL $59,008.25 Council Total.funds.from CRA $111,244.75 TOTAL FUNDS DISPERSED FY 201812019 $170,253.00 CRA Annual Report 2019 Page 5 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. CRA Annual Report 2019 Page 6 The City's millage decreased from $5.00 per $1,000 in FY 2001 to $3.1514 per $1,000 in FY 2019. The millage for Indian River County has been decreased from $4.1014 per $1,000 in FY 2001 to $3.4604 per $1,000 in FY 2019. Rates from 2001 through 2019 are presented in Exhibit III below. Exhibit II Sebastian Community Redevelopement Agency Operating Millage Rates in Redevelopment Area Indian City River of Total Fiscal Year County Sebastian Millage 2001 4.1014 5.0000 9.1014 2002 4.0501 4.5904 8.6405 2003 3.8729 4.5904 8.4633 2004 3.8377 4.5904 8.4281 2005 3.6233 4.5904 8.2137 2006 3.5204 3.9325 7.4529 2007 3.1914 3.0519 6.2433 2008 3,0202 2.9917 6.0119 2009 3.0202 3.3456 6.3658 2010 3.0892 3.3456 6.4348 2011 3.0892 3.3041 6.3933 2012 3.0892 3.3041 6.3933 2013 3.0892 3.7166 6.8058 2014 3.2620 3.7166 6.9786 2015 3.3375 3.8556 7.1931 2016 3.3602 3.8556 7.2158 2017 3.3602 3.8000 7.1602 2018 3.4604 3.4000 6.8604 2019 3.4604 3.1514 6.6118 Total Tax Increment Millage Rate 10.0000 9.0000IF m 8.0000 7.0000 - .0000 - 5- .0000 -, - - - 4.0000 - - - - - - c 3.0000 - _ - - - ~ 1.0000 - Fiscal Year Source: City of Sebastian Administrative Services Department CRA Annual Report 2019 Page 7 The initial implementation of the tax increment financing was for the Fiscal Year 2001 and its base year value was set at the taxable value for 1994. When the CRA area was expanded, the base year value for that expanded area was set at the taxable value for 2003. As a result, by Fiscal Year 2005, the total incremental value was $36,862,574. As compared to the Fiscal Year 2019 total incremental value of $61,169,160, the incremental value of the redevelopment area has increased by 65.9% since Fiscal Year 2005. The taxable values in redevelopment area from 2001 through 2019 are presented in Exhibit II 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 $45,834,920 $34,959,870 $10,875,050 2002 58,263,740 34,959,870 23,303,870 114.29% 2003 58,844,190 34,959,870 23,884,320 2.49% 2004 66,307,980 34,959,870 31,348,110 31.25% 2005 78,424,554 41,561,980 36,862,574 17.59% 2006 89,418,550 41,561,980 47,856,570 29.82% 2007 134,755,060 41,561,980 93,193,080 94.73% 2008 129,700,130 41,561,980 88,138,150 -5.42% 2009 127,735,740 41,561,980 86,173,760 -2.23% 2010 111,909,020 41,561,980 70,347,040 -18.37% 2011 90,533,980 41,561,980 48,972,000 -30.39% 2012 83,558,060 41,561,980 41,996,080 -14.24% 2013 82,753,350 41,561,980 41,191,370 -1.92% 2014 82,598,780 41,561,980 41,036,800 -0.38% 2015 84,939,810 41,561,980 43,377,830 5.70% 2016 91,018,390 41,561,980 49,456,410 14.01% 2017 91,875,329 41,561,980 50,313,349 1.73% 2018 97,801,122 41,561,980 56,239,142 11.78% 2019 102,731,140 41,561,980 61,169,160 8.77% Tax Increment Values 100.0 90 :0 00 .0 00 ■ 20.0 0 010.0 I■■ ■■■■■■■■■� 0.0 Del O61- OOb O0, 000 000 OO'l 0C, 009 ONO O^1 0N� ON'' O1A ONb ONO ON, ONO ONl9 ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti Fiscal Year Source: City of Sebastian Administrative Services Department CRA Annual Report 2019 Page 8 Based on the millage rates and significant increases in taxable values, the tax increment revenue has risen dramatically. The total tax increment revenue in 2001 was $94,029. The tax increment revenue in 2019 has increased to $384,216. However, this is a 30.5% decrease from the highest year of 2007 when the total was $552,741. The tax increment revenues for the redevelopment area for the Fiscal Year 2001 through 2019 are presented in Exhibit IV below. Exhibit IV Sebastian Community Redevelopement Agency Tax Increment Revenue Indian City River of Fiscal Year County 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 137,535 158,885 296,420 2016 157,874 181,150 339,024 2017 160,610 181,631 342,241 2018 184,879 181,652 366,531 2019 201,086 183,130 384,216 Tax Increment Revenue $600,000 - $500,000 - $400,000 �I $300,000 $200,000 $100,000 I 10°10°10 Fiscal Year (1) Revenues include the triangle area added in the redevelopment area in 2003. Source: City of Sebastian Administrative Services Department CRA Annual Report 2019 Page 9 Financial Statements 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, 2019 and may be obtained in the City Clerk's office 1225 Main Street, Sebastian, Florida or online at the City's Website at httn://www.citvofsebastian.ore/city-financials. CRA Annual Report 2019 Page 10 Sebastian Community Redevelopment Agency, Florida Balance Sheet September 30, 2019 Unaudited ASSETS Cash and cash equivalents $ 139,233 Investments 254,483 Total assets $ 393,716 LIABILITIES AND FUND BALANCE Liabilities: Accounts payable $ 19,612 Total liabilities 19,612 Fund balances: Restricted 374,104 Total fund balance 374,104 Total liabilities and fund balance $ 393,716 CRA Annual Report 2019 Page 11 Sebastian Community Redevelopment Agency, Florida Statement of Revenues, Expenditures, and Changes in Fund Balances For the Year Ended September 30, 2019 Unaudited REVENUES: Taxes: Property $ 384,216 Investment earnings 14,101 Other revenue 39,000 Total revenues 437,317 EXPENDITURES: Current: General government 2,928 Economic environment 393,311 Total expenditures 396,239 Excess (deficiency) of revenues over (under) expenditures 41,078 OTHER FINANCING USES: Transfers in 20,457 Transfers out (111,245) Total other financing uses (90,788) Net changes in fund balance (49,710) Fund balance - beginning 423,814 Fund balance - ending $ 374,104 CRA Annual Report 2019 Page 12 Sebastian Community Redevelopment Agency, Florida Schedule of Revenue, Expenditures, and Changes in Fund Balances Budget and Actual For the Year Ended September 30, 2019 Unaudited Actual Variance with Budget Amounts Amounts on Final Budget - a Budgetary Positive Original Final Basis (Negative) REVENUES: Taxes: Property $ 385,710 $ 385,710 $ 384,216 $ (1,494) Investment earnings 10,000 10,000 14,101 4,101 Other revenue 39,000 39,000 39,000 - Total revenues 434,710 434,710 437,317 2,607 EXPENDITURES: Current: General government 1,990 1,990 2,928 938 Economic environment 471,402 471,402 393,311 (78,091) Total expenditures 473,392 473,392 396,239 (77,153) Excess (deficiency) of revenues over (under) expenditures (38,682) (38,682) 41,078 79,760 OTHER FINANCING USES Transfers in 220,927 220,927 20,457 (200,470) Transfers out (116,245) (116,245) (111,245) 5,000 Total other financing (uses) 104,682 104,682 (90,788) (195,470) Net changes in fund balances 66,000 66,000 (49,710) (115,710) Fund balances - beginning 423,814 423,814 423,814 Fund balances - ending $ 489,814 $ 489,814 $ 374,104 $ (115,710) CRA Annual Report 2019 Page 13