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FY 2009 Clermont Community Redevelopment Agency Annual Report Fiscal Year Ending September 30, 2009 History The Downtown Clermont Community Redevelopment Agency (CRA) was created on FY 2009 May 27, 1997 through the adoption of Resolution Revenues No. 950 by the City Council of the City of Taxes $ 308,761 Clermont, Florida. Investment Earnings 2,611 Total Revenues $ 311,372 Since its inception, the taxable value of the Expenditures $ 38,022 downtown redevelopment area has increased over Excess Revenues Over Expenditures 273,350 $38.4 million from just over $14.9 to over $53.3 million. Revenues in excess of $1.4 million have Beginning Fund Balance $ 907,346 been received to date funding various revitalization Ending Fund Balance $1,180,696 projects over the years. Assessed ` Value Assets v YILLG Cash & Cash Equivalent's $1,180,696 '60 '60 Investments 0 - Total Assets $1,180,696 50 40 __. _ II Liabilities 0 20 _tri—i•i_ 30 Total Liabilities & Fund Balance $1,180,696 ]0 i o __,,_ , _-T----1.. Financial Update 1996 1948 2000 2002 2004 2006 2008 As of September 30, 2009 the CRA Fund had a balance of $1,180,696. Revenues received in 2009 Project Information totaled over $311,000. Expenditures in 2009 The Streetscape project, intended to improve the included installation of decorative fencing around Center Lake. The balance of funds is being aesthetics and pedestrian access to the historic accumulated for the comprehensive streetscape downtown area, includes the construction of new sidewalks, landscape islands with native, drought project. tolerant plant species, period street lights and decorative intersection and cross walk designs. The detailed financial information related to the Recent additional CRA is contained within the Comprehensive features such as the Annual Financial Report (CA FR) of the relocation of all overhead • City of Clermont and power lints underground have been in the design has been audited by an P_ :: stage. In order to independent auditor. minimize the disruption The chart above to local businesses and includes a summary of interruptions in utility revenues, expenditures services, all the various and fund balance for 2009 streetsc ape improvement 11"" �1 :��iir 1111111iiii01 l i Ml II Fi w ell l as Y thear as e assets of the projects are being 1111 i I r' d. For more consolidated into one Ill 11 11111.1 111ii',. fun comprehensive -ill• infor please refer - - - -- to the City of Clermont construction project ..+ scheduled to begin in CAFR. 2012. i Clermont CRA Annual Report Fiscal Year Ending September 30, 2009