On the agenda

1. 1Call to Order - Roll Call▶ 0:00
2. 2

   Approval of October 1, 2024 CRA Meeting Minutes

   approved

   The CRA Board approved the minutes from the October 1, 2024 CRA meeting.

   • vote:Approval of the October 1, 2024 CRA Meeting Minutes. (passed)4–0

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   [00:00:33] Second. All those in favor signify by aye. Aye. Those opposed, 4-0. Moving on to a

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3. 3

   Memorandum of Understanding with New Port Richey Main Street, Inc.

   approved

   The CRA Board approved a Memorandum of Understanding with New Port Richey Main Street, Inc., authorizing the Executive Director to enter into the agreement with $50,000 in funding (up from $25,000 in prior years), paid quarterly at $12,500. Discussion focused on ensuring expenditures comply with CRA statutes and a request for Main Street to provide regular reports to the Board.

   • motion:Motion to approve entering into the Memorandum of Understanding with New Port Richey Main Street, Inc. (passed)4–0
   • direction:Board directed staff to schedule Main Street to present an annual (or quarterly/semi-annual) report to the CRA Board.

   🏢New Port Richey Main Street, Inc.👤Unidentified Board Member👤Unidentified City Manager/Executive Director#FY 24-25 CRA budget#Florida CRA law / 2018 changes#Four-point Main Street approach

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   [00:00:41] memorandum of understanding with the new Port Richmond Main Street Inc. A request [00:00:47] before you this evening is to authorize your Executive Director to enter into a [00:00:53] memorandum of understanding with the new Port Richmond Main Street program and the [00:01:00] agreement is based on the significance of the four-point approach of the [00:01:08] program in large part. There are some additional duties and as it relates to [00:01:16] programming and special events, this year in addition the agreement sets forth [00:01:22] performance standards for both parties. In previous years, the program received $25,000 [00:01:34] worth of support from the CRA. When your 24-25 budget was approved on October 1st [00:01:45] of 24, the appropriation that the Board of Directors approved was in the amount [00:01:52] of $50,000. Therefore, their quarterly payment will be in the amount of $12,500 [00:02:00] for this fiscal year. The agreement, I think, does a good job of outlining their [00:02:12] responsibilities and the funding is in the CRA budget to support our continued [00:02:21] relationship with Main Street, which I believe has been perpetuous and should [00:02:28] be maintained. And with that, we're recommending that you approve entering [00:02:33] into the memorandum of understanding with the New Port Richey Main Street [00:02:36] group. Any public comment? Seeing no one come forward, we'll bring it back for motion and [00:02:44] discussion. Vote. Yeah, motion and discussion and a vote. Move. Somebody move. I'll move to approve. [00:02:55] Second. No discussion at this time. Unfortunately, this is important to bring up that the, as you all know, as you head to Tallahassee, that the attacks on the CRA are coming forward and that among the things that occurred in the 2018 changes of the CRA law was [00:03:24] a loss of the word of things you could do to what you shall do. And there have [00:03:32] been interpretations, and so I know that's why our City Manager has reflected [00:03:36] on the four points as being the focus, not on marketing, not on events. And to the [00:03:42] degree that the four points include some marketing, I would just like to say as a [00:03:48] caveat that the activities that are provided to us in the report should be [00:03:55] deemed and determined to be of a legal nature under the CRA law. There are many [00:04:03] ways in which the CRA could do things that would be legal. As example, I don't [00:04:09] recall how much money we spent on the brass plaques or how much they were [00:04:18] raising for the black brass plaques as sort of a match or whatever, but the [00:04:25] CRA could easily purchase those things and that would [00:04:30] potentially release some of the funds back that were otherwise donated for [00:04:34] that purpose that they could use for operating. So I want to be very careful [00:04:38] that we have vetted the expenditures and not just rest on the four points. I [00:04:45] think it's something that I'll vote for today because that's the way you [00:04:49] presented it, but with all of the scrutiny that's on by governments that [00:04:55] can be pointing the finger and saying that we're just paying somebody to have [00:04:59] parties or for the provision in the statutes that say that we can't support [00:05:04] nonprofits directly in their mission as much as it's written in the statute. So I [00:05:11] just want to be careful that we read that and if there are any problems that [00:05:15] the CRA addresses those with the city government and we can work it [00:05:24] out. So in no way am I against them getting $50,000. I'm just wanting to make [00:05:28] sure that when they get it from the CRA that we have a good hat, something we [00:05:34] hang our hat on. [00:05:41] I've been up here 10 years now and we used to see Main Street here [00:05:47] and they used to come and give us reports. I haven't seen them in years. [00:05:49] I will ask them. They've had recent talks to me about that. [00:05:55] Pardon me, I didn't mean to interrupt. So I want to see them and I [00:05:59] want them to sell their program to us, not just file a paper and say can we [00:06:02] have some money. So I think that an annual report of what [00:06:07] they're doing and where they're spending their money and where we're donating it [00:06:10] to because right now I have no idea. I think that's a timely request based on [00:06:15] the fact that I've had recent discussion with them about that and they're [00:06:18] preparing to do so, so I'll schedule it. I could see quarterly or at [00:06:22] least semi-annually, you know, them just come here and tell us what they're doing [00:06:26] for us for 50 grand. They do submit written reports to me but I will also [00:06:31] have them present themselves to you with a report. Yeah, I'd really appreciate that. [00:06:37] Okay, all those in favor signify by aye. Aye. Aye. Four nothing. Okay, moving on. [00:06:43] Approval of FY 2025 annual report. [00:06:53] So the CRA, as you know, is made possible through chapter 163 part 3 of the [00:07:04] Florida statutes and its responsibility is to plan, coordinate, and [00:07:10] facilitate efforts to recruit and attract, retain, and grow business within [00:07:17] the boundaries of the city. The CRA board is asked to review and approve the [00:07:22] annual report by way of Florida statute 163.3563C and 163.371. [00:07:33] Florida statute requires that the Community Redevelopment Agency shall [00:07:38] file this annual report with the county that created the agency and publish the [00:07:44] report on the agency's website and we plan to do so. The report contains both [00:07:52] financial information and performance data for the plan authorized and [00:07:58] administered and overseen by the CRA, in this case for the fiscal year 23-24. [00:08:04] This is where it gets really exciting cyber PowerPoint. Bring it up. So, thank [00:08:13] you. Oh boy, I'll try my best. For the 23-24 fiscal year, I'm going to talk a little bit [00:08:25] about the purpose, the CRA district, our major highlights, the budgeted capital [00:08:29] projects, our redevelopment project, and our business incentive grants, a little [00:08:37] bit about marketing, and then a financial report. The purpose of the annual report, [00:08:43] as I indicated, it's required by Florida statute, which is our governing statute, [00:08:48] and it covers all of our redevelopment activities for the 23-24 fiscal year and [00:08:57] it requires a financial statement of asset liabilities, income, operating [00:09:05] expenses, of tax increment funds collected, and our record of key [00:09:10] accomplishments for the fiscal year. This is an outline of our CRA district. It includes the boundaries of the city and the city limits and we have cutouts of the few areas of the [00:09:27] city which are not contained within the CRA districts. I'll talk a little bit [00:09:34] about major highlights. I'm going to go with the Aqua Harbor project because I [00:09:38] think it's pretty exciting. This project is located on the west side of US [00:09:45] Highway 19 at the Marine Parkway intersection. It is located on a 3.67 [00:09:52] acre piece of waterfront parcel. The Magnuson Hotel used to be there and it [00:09:58] no longer exists. The project is twofold. It involves the establishment of an 82-room [00:10:06] hotel which will front US Highway 19 and 96 luxury condominium units spanning [00:10:13] along the Marine Parkway frontage. Those condominiums will be constructed in two [00:10:20] buildings. At one time, in fact up until recently, the 96 units were to be [00:10:30] constructed in two buildings and they were to be constructed one at a time. The [00:10:37] units, many of which could be purchased with a boat slip, are very well finished.

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4. 4

   ↳You arrived here from a search for “Greg Orbach” — transcript expanded below

   Approval of FY2024 Annual Report

   discussed

   CRA staff presented the FY2024 Annual Report, covering redevelopment projects (Magnuson Hotel, Villa del Sol, Anchors at Gulf Harbors, Town and Country Subdivision, SunTrust/Riverside assemblage, Railroad Square, Grand Boulevard improvements, Schwetman Education Center, etc.), business grants awarded to four businesses (~$290,127), and financial statements showing fund balance growing to $888,853. Board members asked questions about the Magnuson redevelopment agreement, marketing the SunTrust/boat ramp properties together, and grant outreach.

   • direction:Council suggested marketing the SunTrust/Acorn Street and boat ramp properties together in RFP to attract integrated development. (none)
   • direction:Staff to check status of Magnuson Hotel redevelopment agreement and bring back to board. (none)

   📍5332 Acorn Street📍East side of Seaforest Drive at Marine Parkway📍Grand Boulevard at Marine Parkway intersection📍Grand Boulevard between Marine Parkway and Gulf Drive📍Grand Boulevard from Delaware Street to Circle Boulevard📍Leisure Lane / Vandoren Avenue area📍Main Street west of River Road📍Missouri Avenue📍Nebraska Avenue between Adams Street and Grand Boulevard📍Southeast corner of Main and Bank Street🏢American Grand Cross building🏢Anchors at Gulf Harbors🏢Dulcet🏢Estuary🏢Hacienda Hotel🏢Hilton🏢Julian's Auto Center🏢Magnuson Hotel🏢Mullen's Music🏢Pasco County🏢Rivers Edge Pediatric Clinic🏢Riverside Inn🏢Royal Five Hospitality🏢Schwetman Education Center🏢Seafire Grill🏢Studio NPR🏢SunTrust Bank🏢Sunset Cove Grill and Bar🏢The Central🏢The Zen🏢Villa del Sol🏢Widow Fletcher's👤Altman👤Greg Orbeck👤Pete#CRA Plan redraft#Commercial Facade Improvement Grant#Commercial Interior Build-out Grant#Commercial Real Estate Redevelopment Grant#FY2024 CRA Annual Report#Grand Boulevard bump-out program#Grand Boulevard multi-use path#Marine District#Palm District#Palm District mid-block crossing project#Railroad Square Improvement Project#Tax Increment Financing#US Highway 19 and Main Street Gateway Project#Upper Floor Residential Grant

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   [00:10:49] But the developer has recently refinanced with an institution that is [00:10:58] going to allow him to build both buildings at the same time based on the [00:11:04] reception that he's getting in the market to the units. We have been very [00:11:12] stern with the developer about our requirement that it be a flagged hotel. [00:11:20] He is talking to the Hilton chain at this time about the specific designation [00:11:31] for the hotel and at this point he has proposed either true or a home two [00:11:38] suites, which is an extended stay product of the Hilton family. And so I'll be [00:11:46] talking to you in coming months about those options and we'll be considering [00:11:52] those. Villa del Sol, another exciting project, is the subject of the former [00:12:01] community hospital site, which is almost 28 acres in size, spans along Grand [00:12:08] Boulevard at the Marine Parkway intersection. The developer is proposing [00:12:13] to construct a mixed-use residential project there, which in its conclusion [00:12:20] will consist of 127 townhomes and 300 apartments. The estimated value of the [00:12:28] project to include construction and land purchase will be a hundred and fifty [00:12:34] million dollars. I think it'll be catalytic to the Marine District in [00:12:40] general, which is why I'm calling it a highlight. The Seafire Grill and Sunset [00:12:49] Cove Grill and Bar exists on US Highway 19. A major renovation occurred there [00:12:57] over the last year. At the former, the Widow Fletcher's restaurant was closed. [00:13:05] Change involved not only an upgrade to the main dining areas, but also in [00:13:12] addition to the lower level space, which was not actively planned during the [00:13:21] tenure of the Widow Fletcher's. It's now used for dining space and they also did [00:13:29] some nice building facade and parking lot improvements. Although it's not [00:13:34] completely new, the estuary and the studio NPR was processed through the CRA [00:13:43] as an economic incentive. This current fiscal year, the former two-story [00:13:55] restaurant, the Dulcet, was housed there previously and the building was both [00:14:02] redesigned and repurposed to serve as a first floor restaurant and second story [00:14:09] office space. So in respect to business and developer incentive grants, incentives [00:14:21] are a very important part of what we do for the, through the CRA, although public [00:14:27] investment always occurs first and private capital investment follows. [00:14:33] Public investment is very important to incentivize private capital investment [00:14:39] into commercial properties. The CRA was able to aid four different businesses [00:14:45] during this fiscal year and we expect $290,127 in that respect. We [00:14:55] currently offer four types of grants through the [00:15:00] We offer a commercial facade improvement grant, a commercial real estate redevelopment grant, [00:15:07] a commercial interior build-out grant, and an upper floor residential grant. [00:15:14] As we are redrafting our CRA plan, the focus on grants is to determine whether these are [00:15:23] relevant and appropriate for the current time and whether there are additional grant opportunities [00:15:29] that the CRA should be offering, and I'm looking forward to seeing what the consultants [00:15:39] are going to be recommending to us in that respect. [00:15:42] The grants that were effectuated during the current fiscal year were to Julian's Auto [00:15:51] Center, to the Central, which was through a tax rebate program that was effectuated [00:16:01] at the time that that project was initiated, to the Zen, and also to Estuary. [00:16:11] The capital projects that were implemented this construction season are the U.S. Highway [00:16:23] 19 and Main Street Gateway project. [00:16:28] That project actually, for this fiscal year, we spent $646,655. [00:16:40] The Railroad Square Improvement Project, largely planning expenses, and the CRA appropriated [00:16:51] and spent $36,567. [00:16:56] Property assemblage, $506,467. [00:17:06] And streetscape improvement, $17,080. [00:17:14] Urban projects, Vast is the Magnuson Hotel, which I have already told you about. [00:17:26] The Anchors at Gulf Harbors, which is a 388-unit project which will house seniors. [00:17:40] It is located at the Marine Parkway intersection, east side of Seaforest Drive. [00:17:50] It will be one five-story building, and it will have many nice outdoor amenities. [00:18:04] And it is currently under construction, and it is expected to, the construction is expected [00:18:18] to span a 14-month period of time. [00:18:21] The Town and Country Subdivision is what's formally, what most people commonly refer [00:18:28] to as the Leisure Lane-Vandoren Area Avenue. [00:18:32] It contains 185 residential units, and very limited frontage on U.S. Highway 19 of commercial [00:18:44] properties. [00:18:46] It will be added into the CRA. [00:18:51] It is not currently in the CRA, but it will be added into the CRA through agreement with [00:18:59] Pasco County, and Pasco County will be, through an interlocal agreement, will be giving the [00:19:10] city $2 million for purposes of infrastructure improvements in that subdivision area. [00:19:18] The next U.S. Highway 19 corridor improvement will be the former SunTrust building, which [00:19:26] the city purchased in 2022, which adjoins the River Road properties, which were purchased in 2006. [00:19:37] The city had originally planned to put that property out to RFP for purposes of a residential [00:19:45] community with an inundation pond. [00:19:48] It was later determined that having a third access point into the property would make [00:19:55] the project more feasible and marketable, and so effort went forward to acquiring property [00:20:04] that would ensure Main Street access into the property, and in August of 23, 5332 Acorn [00:20:14] Street was acquired to add to the assemblage. [00:20:19] It is now in a much better position to market and to have that property prepared for letting [00:20:31] it for proposal. [00:20:34] In the downtown area, we're working on the Railroad Square project, which is intended [00:20:42] to improve the attractiveness of the downtown district as a destination element. [00:20:50] In particular, some of the elements that are included is making Nebraska Avenue between [00:21:00] Adams Street and Grand Boulevard a one-way traffic orientation, reducing the lane width, [00:21:11] embellishing the pedestrian space on both sides of the street to provide for vendor [00:21:19] space and pedestrian opportunities, and for the establishment of overhead shade sales [00:21:31] and street lights and landscaping and street furniture, and we've also developed a very [00:21:39] nice pedestrian walkway over to Cavalier Squares because it is a very important node [00:21:45] in the plan design. [00:21:52] In the downtown area, we also have property located at the southeast corner of Main and [00:21:56] Bank Street, which is property right across the street from the Hacienda Hotel, and plans [00:22:06] have been shared with us about the future of that property, and although no time frame [00:22:15] has been attached to the plans, the developer plans to construct retail units fronting Main [00:22:24] Street with residential units overhead adjacent to other residential areas. [00:22:33] The project does include the construction of a parking structure for use by tenants [00:22:38] and visitors to the downtown area. [00:22:40] It's a very dense development, and we're hopeful that it's in the short term rather than in [00:22:53] the long term. [00:22:57] In the downtown area, there are two specific projects that I wanted to point out to you [00:23:03] because preliminary discussions and planning has occurred. [00:23:08] The Grand Boulevard bump-out program, in which preliminary planning to establish curb extensions [00:23:15] along Grand Boulevard has occurred, spanning from Delaware Street to Circle Boulevard, [00:23:22] the purpose of which is to reduce lane width and thereby reduce traffic speed, to improve [00:23:30] safety for both pedestrians and cyclists, and lastly and very importantly, to provide [00:23:36] businesses an opportunity to use their outdoor space. [00:23:43] The Grand Boulevard multi-use path, which is a 10-foot wide multi-use path system spanning [00:23:50] along Grand Boulevard into the city's downtown district. [00:23:55] The first phase is currently being implemented between Marine Parkway and Gulf Drive. [00:24:06] And the Palm District. [00:24:08] This is the current boat ramp parking and the former Chamber of Commerce building, and [00:24:16] the project calls for the redevelopment of this very prominent location of waterfront property. [00:24:25] The last purchase agreement was effectuated in April of 24, and it was the necessary acquisition [00:24:35] of the Rivers Edge Pediatric Clinic. [00:24:41] My expectation is that public meetings will occur later this year with you to discuss [00:24:48] the future of the property. [00:24:50] Once that direction is solidified, a request for proposal will be let to qualified developers, [00:25:02] and that will be released to interested parties, and we will accept those proposals and see [00:25:08] what we get, and we will rank those and determine if any of those proposals are of interest [00:25:15] to us for the development of that piece of property. [00:25:21] The Palm District mid-block crossing project is on Main Street west of River Road. [00:25:32] A traffic study will be conducted to gather data and advance a recommendation, two-fold, [00:25:40] both to determine a specific location and design for a mid-block crossing to improve [00:25:49] safety and to continue to promote a walkable urban environment in the city. [00:25:56] The streetscape project is really just a continuation of an ongoing assessment of the city's streetscape [00:26:07] elements that may be due for replacement in both the downtown and the Palm District. [00:26:14] There may be future elements included which aren't currently part of our streetscape system, [00:26:25] such as banners, or bike racks, or additional planters, shade structures, or holiday displays. [00:26:40] The Marine District, again, is the Villa del Sol project. [00:26:46] This is the property that the community hospital abandoned in 2012. [00:26:53] Again, a project there will help solidify the future of the whole Marine District because [00:27:03] when the hospital did leave the site, many doctor's offices left the site, many of the [00:27:09] employees that were employed by the hospital also left their homes in the Marine District, [00:27:19] and a lot of disinvestment followed as well. [00:27:23] I'm hopeful that through the CRA we will come up with some programs to assist in some programs [00:27:33] that will help convert some rental to home ownership opportunities in the district, as [00:27:39] well as some upgraded programs to help upgrade some of the properties. [00:27:50] The next one, exciting to all of us, is the former Schwartman Education Center. [00:27:55] This property has been of interest to the CRA for some time. [00:28:02] A purchase agreement in that respect was submitted, as you know, to the school district. [00:28:09] It was accepted by the school district. [00:28:12] A closing date was set, and the parties did not close on the real estate transaction. [00:28:20] To date, discussions between the parties continue in respect to various terms of a proposed [00:28:30] agreement with the shared intent of closing on the real estate transaction. [00:28:38] In fact, Councilman Altman referenced the fact that the administration and the attorneys [00:28:44] are due to meet about that very thing in the, is it this week, or is it next week? [00:28:53] The week after. [00:28:54] Week after next, no, next week, yes. [00:29:00] And with that, that concludes the report of the program elements. [00:29:09] And I'm prepared to present to you the financial report, which starts with revenues. [00:29:16] And the tax increment financing received was $3,553,849. [00:29:30] We received $36,567 in grant revenue. [00:29:38] And in investment income, we received $122,572. [00:29:46] In miscellaneous revenues, we received $195,200, which totaled our revenues for the year to [00:29:57] $3,900,000. [00:30:00] in eight, $189. Our expenses for general government were $663,625. We had debt service that we [00:30:15] paid for interest in the amount of $357,899. Our capital projects, as were outlined in [00:30:26] the PowerPoint presentation to you, were in the amount of $1,206,768. Making our total [00:30:37] expenditures $2,228,292. Excessive revenues over expenditures $1,679,897. Other financing [00:30:59] sources, our transfers in from the general fund for tax increment was $4,015,240. Transfers [00:31:13] out $4,149,282. Total other financing sources then was $134,042. Net change in fund balance [00:31:31] $1,545,855. Fund balance beginning of the year and this ties back to our audit was $657,002. Fund [00:31:47] balance end of the year $888,853. Assets, cash and pooled cash, cash equivalent and investments $620,380. [00:32:02] Accounts receivable net $31,430. Notes receivable was $725,000. Redevelopment properties, I'm sorry, [00:32:21] did I say notes receivable? I'm going to say it again in case I didn't. No, I did. Redevelopment [00:32:27] properties held for resale $4,652,900. Prepaid items, that was our deposit for the Schwetman [00:32:39] property $25,000. Total assets $6,054,711. Liabilities and fund balance, accounts payable [00:32:55] $38,242. Accrued liabilities $17,945. Advances from other liabilities, which is our payment due [00:33:08] to the general fund is $5,109,641. Total liabilities $5,165,858. Our fund balance and [00:33:25] redevelopment $888,853, which is our total fund balance. Our total liabilities and fund balance [00:33:37] then is $6,054,711. And I should report to you additionally that we did pay off our SunTrust [00:33:51] Bank building this year, so there's no debt on that, and that we are scheduled to close on the [00:34:01] Riverside Inn building on April 17th of this year. And I'm prepared to respond to what questions you [00:34:11] may have of me. I'll try to be brief as I can to say that when you showed the two [00:34:20] projects, the SunTrust project and identified the additional property, the Cigar Bar property, [00:34:26] and Hopeful, as well as the Acorn Street property, and then also showed the boat ramp property, [00:34:35] that in my view, in order to attract the kind of development with money in today's environment [00:34:44] that we have, those two properties should be let at the same time so that someone can [00:34:51] look at that. Y'all will remember Greg Orbeck showing us a little walk around the river [00:34:59] through Acorn into the park and sort of a connectivity strategy. If a developer wants [00:35:08] to build some residential and make that connection to people to have walkability into our town, [00:35:14] maybe that mid-block crossing doesn't need to be made if we can create pedestrian flow [00:35:21] under the bridge, which was the design and idea he had. So at the very minimum, when [00:35:26] you put that out, I think that some of that thought process he went through ought to be [00:35:31] displayed for the potential bidders to see what we had thought of and potentially had [00:35:37] in mind. I don't know if there was any reason from an engineering standpoint that that wouldn't [00:35:42] work, but I think the appeal to a resident who lives easily to get on Highway 19 and [00:35:51] commute to other areas to be able to get out of their apartment and walk over into the [00:35:58] park and enjoy some of those amenities would be a great selling point for that project. [00:36:05] So I don't know if you see them as two separate, but we've got them all now. We might as well [00:36:10] say, here's all of that and come up with your ideas, one, the other, or both, and see [00:36:15] what you come up with. That would be my suggestion. We have a lot of money in both of those properties, [00:36:21] and so to continue to fuel the fire, I'm hoping that we can move on those. We also have a [00:36:29] grant requirement that is going to cause us to get on track with that. Beyond that, on [00:36:36] the financials, I just want to say that when you look at the, you mentioned the balance [00:36:39] sheet, that it had a, coming into 24, it had a negative equity. It was, has brackets [00:36:46] on it, and so that's how much our balance sheet equity was in the hole, and that hole [00:36:52] was created when we marked down the old Baptist church around the lake, and we wrote the value [00:36:59] of that, because we paid several million dollars for that, and also we took on the liability [00:37:06] when we had the general fund pay off one of the three six million dollar notes. So back [00:37:12] in the day, when I got here, there were three six million dollar notes for redevelopment. [00:37:18] To look at this balance sheet and see, you know, liability of nearly a third of that, [00:37:26] and assets that are already valued to match that, that we're having queued up to go out, [00:37:34] tell me that in 2024, we turn the page, we finally got enough revenue back to make up [00:37:41] for the purposeful loss we took when we paid too much money for a property to turn around [00:37:47] and have it turn into a tax paying entity that helped to generate the activity downtown. [00:37:54] So bottom line is the redevelopment plan has been working to this point, and once again, [00:38:01] you've outlined a tremendous number of things. There's only one other thing that I would [00:38:05] mention as you're describing the projects. You mentioned the one that's underway. Is [00:38:11] that a for-profit senior, or is it a tax-exempt senior facility? If it's tax-exempt, it probably [00:38:21] may not be getting any CRA funds, so you're basically saying this is all the stuff that's [00:38:27] happening in our town. [00:38:29] We did give them CRA assistance for the project, and it is going to...they did receive tax [00:38:37] assistance for the project, but it's going to be held in the developer's name, so it [00:38:43] will be on the rolls. [00:38:45] So that's good. And then to the other project that you mentioned on the corner that is underway, [00:38:53] I was looking at the request that came to this board back in last summer for us to support [00:39:03] the recommended...so the request that was made last summer was, or almost nearly a year [00:39:12] ago, June of 2024, was for the CRA board to direct the staff to renegotiate, or to negotiate [00:39:20] a redevelopment agreement by and between Royal Five Hospitality, the city, and the CRA for [00:39:27] the project pursuant to terms recommended or otherwise specified by the board, and bring [00:39:35] that agreement back to us for formal consideration. [00:39:38] I don't know that we've seen that, and just looking at the estuary or the central or some [00:39:45] of these others, or ZEN, or whatever, where we've come in late because we didn't have [00:39:51] the agreement, I was not totally on board with the way in which the agreement was sort [00:39:58] of proposed by the economic developer at the time, and I get a little bit sheepish when [00:40:05] I see construction underway and money being borrowed, and I don't know what terms or what [00:40:10] commitment that we've made financially or otherwise. [00:40:14] I recall that it was to give them the value of the extra units for their residential, [00:40:19] and that there was some quantification on that. [00:40:22] Then there's still a question as to who really owned those density rights, and who was going [00:40:29] to make that incentive, and it appeared as if there was a cash contribution, and so that's [00:40:37] the reason that I'm asking to try to understand the financial part of this, not just whether [00:40:45] it's in the budget, but, you know, how much money do we have, how much is coming in, and [00:40:52] how do we make sure that we are spreading the seeds out to all of these projects. [00:41:00] That's all. [00:41:02] I see you're writing, so I'm going to assume we're going to get an update on that, because [00:41:07] that was my principal question, was when that, the Magnuson project, when that would be coming [00:41:12] back to us. That still has to come back to us, correct? [00:41:16] I don't know that. I'm going to need to check my records. [00:41:19] Okay, because I do recall asking that question. [00:41:21] Or that took the development agreement before you, but I'm going to check. [00:41:25] No, I've never seen it. [00:41:28] I don't think it came before us again. I know it came before us once, and you were [00:41:33] given, we gave you a list of options, and then you said you were taking it back to the [00:41:38] developer, and then we were going to get a final agreement to vote on. [00:41:41] We're going to bring it back. [00:41:43] Okay. I also noticed that we went past the vacant underutilized properties in the residential, [00:41:49] but I look forward to hopefully getting a chance to learn about what the plans are in [00:41:55] terms of some sort of, and let me actually backpedal, focus on the downtown, because [00:42:00] it will feed into a little bit of a conversation about residential. [00:42:03] We had some conversations about Missouri Avenue, and we talked about the American Grand Cross [00:42:07] building, some of the parking over there, and I know at least a business owner has been [00:42:13] talking, Pete, do you know the name of this building historically? [00:42:17] It's the old Boulevard building. [00:42:18] The old Boulevard building where Mullen's Music is, and the coffee shop, and the, you [00:42:24] know, there's a couple, a retail in there, and a couple service-based businesses there. [00:42:29] One of the business owners has apparently been in conversation with the owner of this [00:42:33] property about either selling or perhaps working with the city on some sort of redevelopment. [00:42:39] They were interested in it. [00:42:40] I don't know, I'm not surprised they didn't make it in here, because it seemed very preliminary, [00:42:44] but I'm curious to see if they've ever reached out or if they have interest, because, you [00:42:51] know, obviously right across the street, we helped with the estuary, and that was a [00:42:55] $2 million-plus investment, and that was the bulk, I'm assuming, of that 200 and, I mean, [00:43:02] 213,000 went to the estuary, so they got the majority of those four businesses in terms [00:43:08] of investment back. [00:43:11] The biggest concern from the business owner was that he felt like it was hard to understand [00:43:18] what grants were available, and I'm assuming that's because we were in between economic [00:43:27] development directors, but to his point, they're not, they are now on the website, but they [00:43:32] weren't previously, and they're dated from 2021. [00:43:36] They're called business grants. [00:43:37] If you click it, it says 2021 business grants, so they seem outdated, and just understanding [00:43:43] that we are saying those grants are active and they're being given, but how are we targeting [00:43:50] some of these businesses that have been here long before the estuary that might benefit [00:43:55] from their property owner entering an agreement with the city? [00:44:01] Well, the real benefit now is that I'm handling them all, so they don't have to chase anybody, [00:44:07] just have them call me directly. [00:44:11] Okay. [00:44:12] That's one way to do it, if that's the council's wishes. [00:44:15] I just feel like if it's a... [00:44:16] You can apply to CRA and see if it fits. [00:44:20] And that was some of the questions was, you know, in terms of collaborating, how to get [00:44:24] the jump starter pistol going. [00:44:27] It's not really, I don't feel like we proactively advertise. [00:44:30] It's more like we pick people as they come to yourself or to the economic development [00:44:36] department, so I don't know if there's a... [00:44:39] Now. [00:44:43] Okay, perfect. [00:44:44] If you're taking on that responsibility, then I will make sure to usher them your way, and [00:44:48] then I'll seek updates that way. [00:44:50] And then to that point, residential, I know we've had a bit of a gap in terms of providing [00:44:56] grants there, and I have requested... [00:45:00] use some of the information on how, I know it's in the CRA, [00:45:04] but how the NICE, the Neighborhood Improvement [00:45:09] Community Enhancement Program with the code enforcement [00:45:13] department, what program, excuse me, [00:45:16] what residents were targeted for that, [00:45:19] and how that could feed into a strategy, kind of like a pilot, [00:45:22] to inform some of the residential conversation. [00:45:24] Because we have one page in here on small-scale neighborhood [00:45:30] redevelopment, and it doesn't even [00:45:33] list residential, or curb enhancement, or roof projects. [00:45:39] It just says we need to look at our underutilized and vacant [00:45:44] buildings. [00:45:45] And so I personally think that should be a priority, too, [00:45:47] is as these residents see a very large-scale project move in, [00:45:53] like in the old community hospital districts, [00:45:55] and they have concerns over investment, or congestion, [00:46:00] or traffic, what are we doing to serve those residents, too, [00:46:03] who have been the ones paying into the program [00:46:06] over the course of its existence? [00:46:09] So our report reflects on what we have done now. [00:46:14] And we've only implemented programs [00:46:18] that are consistent with the plans that [00:46:20] have been advanced in a CRA plan. [00:46:23] That's part of what is afforded to us under Chapter 163 [00:46:30] of the Florida statutes. [00:46:31] It has to be in a plan to be an eligible activity. [00:46:35] Now, when we do our update to the CRA plan, [00:46:40] you'll see much more emphasis on doing work [00:46:44] in residential neighborhoods. [00:46:46] And that will enable us to appropriate funds [00:46:48] for that purpose. [00:46:50] Right, and so my understanding of the plan [00:46:52] is that there were, in 2019, if that's the latest plan, [00:46:57] is there a later version than 2019? [00:46:59] Yes. [00:47:00] OK, because on the website, 2019 is the latest plan. [00:47:03] It seems like, I mean, it says right here, [00:47:05] page A4, residential rehabilitation. [00:47:08] The appearance and integrity of residential neighborhoods [00:47:10] within development, et cetera, et cetera. [00:47:12] So it's in here. [00:47:14] So maybe there's not specifically targeted, [00:47:18] because it's supposed to be small scale. [00:47:22] So that's my question looking ahead, [00:47:25] is it seems like it's kind of been phased out, [00:47:27] even though it's in the plan. [00:47:29] And to your point, it's not in here. [00:47:33] And so I'm saying looking ahead, if we can pull from something [00:47:36] like the, I mean, I'm sure the code enforcement didn't just [00:47:39] drive down a random street. [00:47:40] I hope they targeted strategically [00:47:43] what they felt was necessary for those funds from code [00:47:49] enforcement fines. [00:47:51] And so if we could take that idea [00:47:53] and start to incorporate residential small scale [00:47:56] investment into our plans, or excuse me, into our updates, [00:48:02] or excuse me, into the work we're doing, [00:48:03] so that it makes it into the updates, [00:48:05] because the 2019 CRA called for it. [00:48:09] Point, just a point of clarification. [00:48:13] The annual reports are simply reports [00:48:16] of showing the progress on the plan. [00:48:17] But to our director, I would suggest [00:48:21] that we're still operating under the 2019 CRA plan. [00:48:28] So we've had updates, and things change, and budgets change. [00:48:31] But we are updating that plan now five years later. [00:48:35] And then what I was getting at is [00:48:38] saying that in our plan, it called [00:48:40] for residential programs. [00:48:43] But it seems like the updates are slowly leaving that out, [00:48:47] or just not, or nonexistent. [00:48:49] There's no mention in here at all [00:48:50] of residential rehabilitation. [00:48:52] But it's called for in our 2019 plan. [00:48:54] That is my point. [00:48:55] So I love everything we're doing. [00:48:57] I just hope we're not in, you know, [00:48:59] you just said those business owners should come to you. [00:49:02] And if we're putting all our eggs in one basket, [00:49:04] I mean, it's a 181 page plan. [00:49:08] So it's hard for you to be able to achieve everything. [00:49:11] So I'm curious to see how you plan [00:49:13] on tackling residential rehabilitation with everything [00:49:18] else that's going on. [00:49:19] We'll be asking, we'll be reappropriating some staff [00:49:23] so that I won't be the one doing that. [00:49:25] But for now, that's the plan. [00:49:27] OK. [00:49:31] I'm really looking forward to the marina project [00:49:34] when that's coming about. [00:49:36] I think that's going to be a huge, huge benefit for US-19 [00:49:41] and something that can really pay back to the city itself, [00:49:44] too. [00:49:46] But that's later, I know. [00:49:48] But it's going to be pretty exciting. [00:49:52] I did have a question and may have said, [00:49:54] I just don't remember. [00:49:55] I know we had to push back a little bit. [00:49:57] But for Railroad Square, do we have any dates or anything [00:50:02] as far as when that'll start? [00:50:03] I know it's kind of a tough thing [00:50:07] to do with the businesses there and trying [00:50:09] to coordinate with them. [00:50:10] Well, it is difficult in some respects. [00:50:15] But we will receive a guaranteed maximum price [00:50:20] for the project that will enable us [00:50:22] to make a recommendation to you at your April 15 meeting. [00:50:28] And as we indicated to you earlier in the agenda, [00:50:34] it'll probably take us between 45 days, [00:50:39] maybe a few more than that, before we [00:50:42] can issue a notice to proceed to Hennessey [00:50:47] to bring their subcontractors on. [00:50:50] Still, some meetings need to occur with the property owners. [00:50:53] And we'll be doing that over the coming weeks to prepare them. [00:50:56] But our guaranteed maximum price will be in place [00:51:01] and we'll be prepared to make a recommendation to you [00:51:03] on the 15th. [00:51:05] OK. [00:51:06] Thank you. [00:51:06] Thank you. [00:51:09] As I understand it, the purpose of this [00:51:17] is under the statutes that you have to present this to us [00:51:20] and then put it on the website. [00:51:21] So this is not a report for us to approve, [00:51:25] unless you want us to. [00:51:27] But I think it is simply you're fulfilling [00:51:30] your statutory obligation to present it. [00:51:34] I am, but I think we're looking for an approval. [00:51:36] We would like it approved as well. [00:51:39] Well, in that case, I would just put on the record [00:51:42] again that the area that you say there's an agreement [00:51:50] to bring into the CRA, and in fact, [00:51:52] you said we will bring it into the CRA. [00:51:54] So nothing happens until we do it. [00:51:57] And so I think the caveat is, as we [00:52:01] look at our financial situation and we look at options, [00:52:04] I only say this because Commissioner Mariano, who [00:52:07] I know is a favorite up here, has [00:52:11] suggested that some of all that money [00:52:14] they get for our hardening, he seems [00:52:18] to be focused on having the project [00:52:22] that we've envisioned to be there [00:52:24] get some assistance in terms of raising it up [00:52:28] to a higher elevation. [00:52:29] And suggested to me at a meeting that he thought that he [00:52:38] could enhance that project. [00:52:40] If, in fact, the county decided to enhance that project, [00:52:43] then I'm not sure what to have in mind, [00:52:47] but I'm just saying until something happens, it happens. [00:52:50] And so when you have a report, it's as if it's in the CRA [00:52:57] and it's not, but it will be. [00:53:00] So if I would make one change, I would [00:53:02] say potential CRA project or something, [00:53:07] versus explaining it as if it is one. [00:53:11] Because A, it's not in the plan yet, [00:53:13] and it's not a project yet, even though we've [00:53:16] had a separate agreement. [00:53:18] The CRA plan never really contemplated that in 2018, [00:53:22] and it's outside of the district boundaries. [00:53:25] So I just think it's a small nuance, [00:53:29] but I'm just putting that on the record. [00:53:32] What project were you talking about? [00:53:35] The one by the Starbucks. [00:53:38] Leisure? [00:53:39] Leisure Lane. [00:53:40] Oh, Leisure Lane, OK, OK. [00:53:41] Yeah, I mean, it's more of a legal issue to me, [00:53:46] and I'm not a lawyer, but I'm anxious to put a report [00:53:50] and say this is what our CRA has done when we haven't even [00:53:53] got it into it yet. [00:53:55] It's fine to say potential, but it [00:53:59] doesn't match with our CRA plan, and you can't do anything [00:54:02] unless it's in the plan. [00:54:03] So not only are we assuming it's going to be in the CRA, [00:54:06] we're also assuming that the project would [00:54:09] be identified in the plan. [00:54:13] Maybe that's OK, because we have generalities, [00:54:15] and you could say, well, it still meets the plan objectives, [00:54:18] but we're so specific with our report, that's just my comment. [00:54:22] Otherwise, I'm happy to make a motion to approve the report, [00:54:27] and I would request that you could come up [00:54:29] with some language to identify it [00:54:31] as a potential future project. [00:54:37] Live with that, Tim? [00:54:39] Yes, yeah, she can make that amendment to it. [00:54:42] Do you have a second? [00:54:45] Second, but I did have a question on that, [00:54:47] and I caught the tail end, if you don't mind, Mayor. [00:54:51] You were saying that Lees-Gerlain is not [00:54:53] in the CRA plan? [00:54:54] Well, it's not in the CRA. [00:54:57] Oh, it's not inside the CRA, so you're [00:54:59] saying it's where we were planning for things [00:55:01] that aren't even in the CRA. [00:55:02] OK. [00:55:03] Well, that's based on this report, which is 23-24. [00:55:05] Nothing wrong with telling the public what we have in mind. [00:55:08] No, I was just curious. [00:55:09] I was just getting filled in. [00:55:10] I think a caveat would be appropriate, [00:55:12] is all I'm asking. [00:55:15] Did you want to open it up for public discussion, Mr. Mayor? [00:55:18] We have this public comment on this report, [00:55:24] seeing no one come forward but back. [00:55:26] And I'd just like to say that I've [00:55:28] been around from almost all the things in there, [00:55:31] and I guess as an individual, I'm [00:55:38] really proud of the city of what it's done. [00:55:39] And as the mayor of the town, I'm [00:55:41] really proud of what we're doing. [00:55:43] So I just want to relay that to the public, [00:55:46] as much as I hear about all the good things that are going on. [00:55:49] So all those in favor, signify by aye. [00:55:52] Aye.

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5. 5Adjournment▶ 55:53