AGENDA MEMORANDUM

Meeting Date:           May 22, 2006

From:                          Ron Stock, City Manager        

Subject: U.S. Highway 27/441 Community Redevelopment Agency (CRA)

Staff Recommendation:

Staff recommends acceptance of an Ordinance providing Findings of Fact; providing for the establishment and administration of a Community Redevelopment Trust Fund; providing for the designation of the Community Redevelopment Trust Fund as the recipient of funds pursuant to Section 163.387, Florida Statutes; and the subsequent adoption of a Resolution adopting a Community Redevelopment Plan, establishing a completion period of 30 years and creating a review process.

Analysis:

A copy of the Redevelopment Plan, Finding of Necessity Report, and Exhibits of the corridor have been attached for your perusal.  These documents represent the columniation of the efforts of LPG Urban & Regional Planners, Inc. whom the City contracted for this endeavor.

The primary purpose of the CRA is to fund transportation improvements on U.S. Highway 27 (the acquisition of right-of-way and the elimination of traffic congestion), the relocation of over-head power lines, and beautification projects along the 441/27 corridor.

Options:

1.  Accept the attached Ordinance and approve the subsequent Resolution; or

2.  Such alternative action as the Commission may deem appropriate

Fiscal Impact: 

Adoption of the CRA will generate a revenue stream (the TIFF Funds) to be used for right-of-way acquisition, the elimination of traffic congestion, the relocation of overhead power lines, and streetscape beautification projects along U.S. Highways 441 and 27.

Submission Date and Time:    5/18/2006 3:10 PM5/16/2006 8:36 AM5/15/2006 6:03 PM5/12/2006 6:47 PM____

Department: ______________________ Prepared by:  ______________________                      Attachments:         Yes____   No ______ Advertised:   ____Not Required ______ Dates:   __________________________                       Attorney Review :       Yes___  No ____ _________________________________            Revised 6/10/04

Reviewed by: Dept. Head ________ Finance  Dept. __________________                                     Deputy C.M. ___________________                                          Submitted by: City Manager ___________RS________

Account No. _________________ Project No. ___________________ WF No. ______________________ Budget  ______________________ Available _____________________

No Ordinance attached