HomeMy WebLinkAbout2004 12 13 Consent Item 209
COMMISSION AGENDA
ITEM 209
Consent X
Informational
Public ,Hearing
Regular
December 13. 2004
Regular Meeting
~ ~
Mgr. / ept.
Authorization
REQUEST: The Finance Department is requesting that the City Commission authorize
payment of the FY 2004/2005 Tax Increment for the U.S. 17-92 Redevelopment Trust Fund
Payment in the amount of$73,848.
PURPOSE: The purpose of this Agenda Item is to request that the City Commission authorize
payment of the FY 200412005 Tax Increment for the U.S. 17-92 Redevelopment Trust
Fund Payment in the amount of $73,848.
CONSIDERATIONS: The Seminole County Property Appraiser has. completed their initial
certifications of the 2004 Final Tax Values for the 17-92 Winter Springs Community
Redevelopment District (the "District"). Based on the attached memorandum dated
December 2, 2004, the amount due to Seminole County Fiscal Services Department is
$73,848, which represents the portion of the District which is located within the City of
Winter Springs. The City Manger has submitted a letter to Seminole County (see
attached) requesting funding in the amount of $25,000 for a planning study to determine.
the feasibility of future projects in the District.
FUNDING: Funding for these charges was included in the General Government - General
Division: under the U.S. 17-92 Tax Payment line code (1900-55201) in the Fiscal Year
200412005 Budget.
RECOMMENDATION: Staff recommends that the City Commission approve payment in the
amount of $73,848 to Seminole County Fiscal Services Department for the FY
2004/2005 Tax Increment US 17-92 Redevelopment Trust Fund.
ATTACHMENTS: 1.) Memorandum from Kevin Fall, Seminole County U.S. 17-92 CRA
Coordinator, dated 12/2/04 (invoice)
2.) Letter from Mr. McLemore dated 12/8/04 requesting planning funds
COMMISSION ACTION:
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ECONOMIC DEVELOPMENT DEPARTMENT
DATE:
TO:
FROM:
RE:
December 02, 2004
Mayor John Bush, City of Winter Springs
Kevin Fall, US 17-92 CRA coordinato~
FY 04/05 Tax Increment
US 17-92 Redevelopment Trust Fund
Kevin Grace, County Manager
Don Fisher, Deputy County Manager
Lisa Spriggs, Fiscal Services Director
Ron McLemore, City Manager
Louise Frangoul, Finance Director
cc:
The Seminole County Property Appraiser has completed the initial certifications of the
2004 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:
2004 Final Taxable Value
<LESS> Base Year Value Taxable Value
2004 Final Value of Increment @100%
2004 Final Value of Increment @95%
$ 34,407,787
$ 17,323,146
$ 17,084,641
$ 16,230,409
2004 Final Value (@95%) X Millage Rate
$16,230,409 X (.0045500) =
$ 73.848 ./
This memo is to respectfully request submittal of payment of $ 73,848 representing that
portion of the US 17-92 Community Redevelopment District located within the City of
Winter Springs. 1m~$S<gHf\\laRe1';th'e'i:@:~,ck::Ji),aYC)bJe tof
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.
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1301 EAST SECOND STREET SANFORD FL 32771.1468 TELEPHONE (407) 665-7134
I:tECEIVED
DEe 0 '6 2004 '.
CITY OF WNTER SPRINGS
Finance Director .
FAX (407) 665-7003
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CITY OF WINTER SPRINGS, FLORIDA
1126 EAST STATE ROAD 434
WINTER SPRINGS, FLORIDA 32708-2799
Telephone (407) 327-1800
Ronald W. McLemore
City Manager
December 8, 2004
Kevin Fall, Coordinator
US 17-92 CRA
Seminole County Economic Development Dept.
1301 East Second Street
Sanford, FL 32771-1468 '.
Dear Kevin:
As per our recent discussion this letter is to request that you appropriate $25,000 to the
City of Winter Springs from the CRA to fund planning and architectural studies to
identify potential projects in that portion of the CRA lying within the City of Winter
Springs.
If you need additional information, please contact me at your convenience.
Sincerely,
~
Ronald W. McLemore
City Manager
/jp
cc: Finance Director
U:IDocslWordlLettersl04 Letters\Dec 04117-92 eRA Funds for City of Winter Springs,doc