##VIDEO ID:BiVRRPt7eX8## e e e e e e done recently okay are we all set we have 5:30 and Greg Paulie is chomping at okay so I will call the meeting to order welcome everybody good evening and welcome to the October 20th meeting of the Temple Terrace August 20th meeting thank you of the uh community redevelopment agency um is there any comments on the minutes from our previous meetings and if not is there a motion to approve the minutes to approve second any discussion or Corrections seeing none all those in favor say I I oppose no nay D minutes are adopted um we have the Temple Terrace Redevelopment area meeting dates for fiscal year 2025 and interim community development director and business relations manager fit that on a business card Greg Paulie is here to present good evening sir thank you sir good evening everyone once again Greg Paulie um what he said as far as the title um my part here tonight is very uh very short I did want to uh um just bring before you proposed dates for the fiscal year 2025 um keeping in uh routine with prior schedule years these dates for the scheduled CRA meetings fall immediately prior to the second council meeting of the second month of each calendar quarter um all of the dat fell uh in line very similar to uh what we've done in the past and this keeps the same algorithm if you will for those dates and uh just for the record I'll read them off uh November 19th 2024 February 18th 2025 May 20th 2025 and August 19th 2025 and once again CRA meetings traditionally start at 5:30 p.m right here in this room um however for any number of reasons additional meetings may be added to the schedule uh as warrant as as warranted um all meetings are subsequently uh or prior to the meeting are posted and publicly noticed by our city clerk's office and with that I'll stand for any questions you may have about the upcoming calendar year for CRA and um staff would seek approval of these dates uh should you find fit thank you board members any questions from Mr Paulie no stes work for everybody very good is there a motion to adopt the schedule move to approve second all those in favor say I I I oppos no Ned schedule's adopted thank you Mr Paulie thank you everyone next item is a resolution approving the CRA annual comprehensive financial report for the fiscal year ending on September 30th 2023 Finance director Jim Ingram is here to explain thank you good evening chairman and uh board we have a uh resolution to approve the CRA annual comprehensive financial report for the fiscal year ending September 30th 2023 uh did you all get a copy you should have gotten a copy in much shorter than our city annual comprehensive report um it was conducted by the same firm obviously MSL CPAs and advisors with Jeff wolf uh our lead uh CPA accountant and auditor performing that it is recommended that the Temple Terrace Redevelopment agency adopt a resolution approving the C annual comprehensive financial report for fiscal year ending September 30th 2023 and I will stand for any questions you might have about the report thank you are there members of the public who wish to comment on this item see none board members other questions for Mr Ingram okay I see none thank you very much appreciate that Mr Ingram is there a motion to approve the report move to approve the uh uh C annual comprehensive financial report for the year ending September 30th 2023 second motion and second discussion of the motion seeing none all those in favor say I I opposed no Nays the report is approved thank you thank you next item is a presentation of the fiscal year 2025 tax increment fund budget proposal for the CRA and Mr Ingram will now explain that yes thank you this is no action is needed tonight this is a presentation it is included in the uh budget that will be presented uh next council meeting first hearing to for the ordinance for the fiscal year 2025 uh budget year but I did want to go over a few points specifically related to the CRA and the Tiff budget there is a typo I just noted noticed uh today it says 3% increase in taxable value actually it was 8% and the the problems we had with the um the estimate going down to the final value actually it was reversed in the case of the CRA it actually went up from the original you know the original uh estimate they gave us uh the final numbers though are 8% higher that sounds good but if you compare it to last year last year was 29% last year was a huge jump 20123 so it does show a little bit of slowing down I think that's understandable as some of the um development in the areas is slowed down in terms of uh property values the estimated 24-year end fund balance is 81,9 43 it was around $122,000 as reported in the uh comprehensive report for 2022 this year we we did add some more and we uh that includes uh 400 about $400,000 in expenditures for the Riverside Park if you'll recall we added that since we knew that we were going to have a good Reserve balance for fiscal year 25 uh the county Hillsboro County and Port Authority contributions are estimated at $729,750 and that's based on their what they are proposing uh millage ratewise and what the uh county has appraised our uh property values to be in the CRA in the city's contribution same I in fact I included a little calculations sheet so they show how we come up with that number uh the city's contribution from the general fund is $824,900 of 92,93 from the Tiff fund to our debt service fund for the loan payment uh that remains with the well uh no not well South State uh Bank also called Center State that's both principal and interest and again just as a reminder that's the one that is has the fixed 2.75% rate uh going out until I believe 2038 require uh no I just mentioned 400,000 another $400,000 is budgeted for the Riverside Park project out of the Tiff fund um and $3,000 this year for the audit the CRA audit that in the past has just been paid out a general fund but now that CRA is starting to make money we are able to do more things more projects and able to pay for things like their own audit with all of this we Still project a reserve of 355,000 44 at the end of fiscal year 25 and those funds will be there if you know something comes up during the year that you desire to uh expend some of those Reserves to that is uh my presentation and if I glad to answer any questions you might have about the budget thank you Mr Ingram board member schisler yes thank you uh good presentation thanks Jim um two questions so number one does the uh expenses include the 50,000 or the demo on stake and H for the year yes that was this this year it does include that those have been booked and they full okay now the growth was 8% you said 8% how much of that is and the definition could be Lucy with this was organic versus expansion organic growth being uh increased value year-over-year versus a new item came online because I think we had some peripheral properties that came online that would I know last year we did okay this year I'm I'm not so sure did did did we have anything come on mind on the in the outskirts of the of the or the the edges of the or is this all organic growth in other words the value is improved all the way around I do not know the answer that question I can certainly research it it would take a little bit of research and a call to the I don't want to waste a lot of time on it but it might be it might be an indicator for us in our analysis going forward that if commercial properties are moving at a different rate than Residential Properties that could be an influence a factor for projecting into the future what because you know we we we're all up here a little concerned with the the slowing down if you will the rise of property rates um if there's a disconnect between residential and B and and Commercial and I I don't mean industrial or anything just just general just generally between commercial residential that could be a big influence next year and the year after I that's just an academic question there's nothing to do with this dys function or what we're do what we're doing with this with the budget but just something for thinking about for next year that's a very good point and I'll try to do some research on that particularly since uh I am still trying to work on that proforma for the tip fund which yeah will be included in uh we're planning to include it in the budget documents you get toward the end of next week or don't waste a lot of time on it just could be I understand and it could be do two in the morning and you just can't go sleep it it could be uh it could be time consuming but I'll see what I can find out that could be a bear thanks Paulie might have some comments on that yes very good question um I'll share with you uh just some personal knowledge that I have on those properties um you are correct there has been um a slowing in the commercial but you mentioned the the outer boundaries the peripheral we we have had some come online there but those are actually the Residential Properties over off of Overlook the um Habitat for Humanity project there behind so um it's it's almost a mixing of the tides here because it's raising the value of our C CRA a small amount but it's still raising it's a small amount it's not a big commercial project but they actually are residential single family residential homes so there's a little bit of mixing of the tide there with regards to some of those uh organic increases versus some of those outer uh perimeter uh improvements we don't ever think about those really Ian we've got the to the the the apartment complex the one quarter and then whatever you want to call the tow houses in is that residential is that commercial I don't I don't know how to you know sure but uh but but as far as when when people traditionally think CRA you're thinking commercial property possibly even larger scale commercial developments but some of these smaller ones that I want to share with you are actually residential on the outer boundaries thank you thanks Pa while you up yes sir do you have any idea when they I hesitate to even ask this but what's the latest on the pulse of the Enigma project good good timing on that I spent my entire afternoon talking about this project um they are currently in the final stages of getting their resubmittal uh checked off and um I don't want to speak out of turn because staff still is working with them to uh to fine-tune a few uh issues but they did submit we have a a uh a nearly complete resubmittal ready to come before uh Council that's a that's a resubmittal of the site plan of the site plan yes sir because um just kind of giving you a quick snapshot Looking Backward um there was some issues with both uh the Southside perimeter wall the little retaining wall on the Southside and there were issues with um conducting work without permit with some of the uh parking lot lighting so uh obviously um they had um they had some situations they had to deal with with our building department over that um so that all went on hold uh the site plan was resubmitted myself um our uh city planner Malik Hall uh have been working very very closely with the applicants engineer and we are very close to being able to uh put a green check next to that and get it on the agenda come forward for you how I remember the site plan issues but that didn't stop work on every they were still able to work on the inside some that didn't totally stop work did it the the way that that order of events unfolded was the The First Development issue was the wall there was uh it was discovered that they were constructing a retaining wall on the south side of their property that was not shown on the plane and when they were asked to verify that it was in fact on their property and they weren't constructing they weren't building in the right of way they presented a amendment to a survey but it wasn't the site plan and so even after being uh directed to stop work in that area um it was discovered that they continued to work in that area and they were actually issued a stop work order for that outside work now under that stop work order they were permitted to continue work on the interior to prepare the interior store spaces if you will and then the situation arose with the parking lot and what happened with the parking lot was I don't remember the exact number I believe it was about 14 or so uh light poles were installed without a permit and obviously it was on the site itself so at that point our building official issued a second stop work order and that's when all work was ordered to be stopped interior and exterior because they were not following the prior directive and at that point everything was stopped and we began to um we began to engage them on a very regular basis to update that site plan so that's where we're at right now and we are very very close to the finish line on the site plan so they they're under a full stop right they're under a full stop right now how far long is that building is it 70% 9 the facade is um the exterior facade is nearly 100% complete uh the parking lot improvements the parking lot still has to be um reconfigured in the in the fashion that they are moving parking lot Islands obviously they're improving the Landscaping in that area um they've already installed the lights but they still have to settle outstanding issues with the light poles that were not permitted um and of course Paving and restriping of the finished parking lot what about the building the in the in the exterior as I mentioned is nearly I mean interior interior is still open studded walls there's no interior and again because he did after they violated his directive on the second time he shut him down completely so it's not ready to go I mean a lot of work to do sir no sir uh the very first thing is to get that site plan before the city council and to get approval on that site plan which I'm not anticipating any issues um they have uh they have amended the site plan in every manner that we've asked them to do uh it's just it's taken a while to get to this point but once we get that checked off then we'll be able to settle up with with the stop work orders and the prior work that was committed without a permit and once that has been settled once their account is completely settled then we will be able to issue the new permits to get them moving forward again any other questions if that was cleared up tomorrow how long would it take him to be to get a COO there's no way he can answer that what should take a week is taken a year well well okay under normal circumstances well in a situation like this um and again I I I don't want to speak for the building official because he has to address that but traditionally what you will see is um you will see a certificate of completion for the exterior shell okay and then individual applicants store stores if you will individual stores will then hire their own team to do their interial build outs so what you would see is you would see a series of cosos that would follow that initial cooc okay good other questions for Mr Paulie or Mr Ingram okay thank you both very much I believe that concludes our business for the Redevelopment agency so we will stand adjourned until 6 o'cl thank you e