HomeMy WebLinkAbout2004 01 12 Consent 205COMMISSION AGENDA
ITEM 205
Jan 12, 2004
Meeting
CONSENT
X
INFORMATIONAL
PUBLIC HEARING
REGULAR
MGRA///DEPT K i
Authorization
REQUEST: Finance Department Requesting a Supplemental Appropriation of $3,475 from
the General Fund Fund Balance for the City of Winter Springs' Portion of the
Incremental Tax Assessment on the US 17-92 Community Redevelopment
District Above that which was Budgeted.
PURPOSE: The purpose of this item is to supplement the General Government Department for the
City of Winter Springs' incremental tax assessment on the US 17-92 Community
Redevelopment District above that which was budgeted.
CONSIDERATIONS: This supplemental appropriation is needed to cover the incremental tax
assessment on the US 17-92 Community Redevelopment District which is located within the
incorporated area of Winter Springs. The tax assessment came in at $73,475 while the budget had
anticipated a $70,000 assessment.
FUNDING: The funds would be appropriated from General Fund Reserves to General Government -
US 17-92 Tax Payment (1900-55201).
RECOMMENDATION:
The Finance Department recommends the City Commission appropriate $3,475 from the General
Fund's Fund Balance to increase the budget in the General Government department above that which
was budgeted for the US 17-92 Community Redevelopment District assessment.
ATTACHMENTS:
Memorandum from the US 17-92 CRA Coordinator, Kevin Fall
Valuation from the Property Appraiser
COMMISSION ACTION:
ECONOMIC DEVELOPMENT DEPARTMENT
DATE:
December 17, 2003
TO:
Mayor John Bush, City of Winter Springs
FROM:
Kevin Fall, US 17-92 CRA Coordinator/(
RE:
FY 03104 Tax Increment
US 17-92 Redevelopment Trust Fund
CC:
Kevin Grace, County Manager
Sally Sherman, Deputy County Manager
Lisa Spriggs, Fiscal Services Director
Ron McLemore, City Manager
Louise Frangoul, Finance Director
L4195
IZAL CHOICE
RECEIVED
DEC 19 2003
CITY OF WINTER SPRINGS
City.L2�na�er`
The Seminole County Property Appraiser has completed the 2003' Final Values for the
17-92 Winter Springs Community Redevelopment District, that portion of the US 17-92
Community Redevelopment District lying within the incorporated area of Winter Springs.
The final valuations are as follows:
2003 Final Taxable Value $ 34,321,523
<LESS> Base Year Value Taxable Value $ 17,323,146
2003 Final Value of Increment a@100% $ 16,998,377
2003 Final Value of Increment @95% $ 16,148,458
2003 Final Value (@956/o) X Millage Rate
$16,148,458 X (.0045500) _
This memo is to respectfully request submittal of payment of $ 73,475 representing that
portion of the US 17-92 Community Redevelopment District located within the City of
Winter Springs. Please make the check payable to:
Seminole County Fiscal Services Department
US 17-92 Redevelopment Trust Fund
1101 East First Street
Sanford, Florida 32771
Please contact me at (407) 665-7133 if you have any questions regarding this request.
1101 EAST FIRST STREET SANFORD FL 32773 TELEPHONE (407) 665-7219
i
I'111t111IT II1111gItlLUl()tl to
SEMINOLE COUNTY METRO ORLANDO
FAX (407) 665-7958
H. W. ".Btu." Suter, CFA, ASA
S004OLE C xmw Pttomm APPRAmR
'):cember 16, 2003
+,iiorable John F. Bush; Mayor
. ,n of NN'inter Springs
=b East State Road 434
'Xinter Springs, FL 32708
Mr. Bush
our office has completed the 2003 Final Values for the 17-92 Winter Springs
Redevelopment District (W4) as required. by Chapter 163.387, Florida Statutes, and submits
111 followinc, information:
2003 Final Taxable Value of the District S 34,321,523
t.ess 2003 Value Adjustment Board Taxable Value Reductions
L; ss Base Year Taxable Value of the District:
1997 Taxable Value of the Base District $ 17,323,146
Taxable Value of Annexations
I Taxable Value of Annexations
= i Taxable Value of Annexations
Subtotal of the Base Year Value(s)
2003 Final Value of the Increment @ 100%
2003 Final Value of the Increment @ 95%
% -7560.
-ou should have any further questions please call me at (407) 665
. Mcerely,
W. "Bil " Suber, CFA, ASA
minole ty Property Appraiser
AA,
T\Ta L. ler
Administrative Director
: Ronald W. McLemore, City Manager
Louise Frangoul, Finance Director
Andrea Lorenzo-Luacus, City Clerk
Honorable Daryl McLain, Seminole County BCC Chairman
Lisa Spriggs, Seminole County Fiscal Services Director
Kevin Fall, US 17-92 CRA Coordinator
Betty Newton, Seminole County Fiscal Services
0
(17,323,146)
PROPu Y APPwusM SEMCEs
Your Source for Property Information... Quick, Convenient, Accurate
16,998,377
16,148,458