2020 CRA Annual Report

CRA ANNUAL REPORT OLDSMAR 2020-2021

The Oldsmar City Council is the Community Redevelopment Agency.  The Community Redevelopment Agency shall have all powers enumerated under Florida Statute Chapter 163 and as delegated by the Pinellas County Board of County Commissioners by Pinellas County Resolution No. 95-195.

CRA COUNCIL
  1. Historical Perspective
  2. overview

TheAerial Map of Oldsmar's Community Redevelopment Agency Area Community Redevelopment Agency (CRA) was formally established in October 1994 with the adoption of Resolution No. 94-22 by the Oldsmar City Council.  As provided for in Section 163.357, Florida Statutes, the CRA is comprised of the five (5) members of the Oldsmar City Council.

The Oldsmar City Council adopted Resolution 93-04 establishing a CRA boundary.  Resolution 95-12 and Resolution 95-24 expanded the CRA boundary and provided for a consistent legal description of the CRA boundary.

In 1996, the Oldsmar Community Redevelopment Plan (Town Center Plan) was adopted, and the Oldsmar CRA Trust Fund was established.  The primary function of the CRA, under this Town Center Plan, is the rehabilitation, conservation, and redevelopment of the designated geographic area through the implementation of the City's Community Redevelopment Plan.

  1. Purpose of Annual Report

This 2020 report is being filed to document the annual redevelopment activities of the Oldsmar Community Redevelopment Agency.  This report is prepared and filed consistent with F.S. 163.371.  The Oldsmar Community Redevelopment Agency is required by the Community Redevelopment Act to submit a progress report of the year's community redevelopment activities, including a complete financial statement of assets, liabilities, income, and operating expenses.  This report is due and must be reported to the "governing body" on or before March 31st of each year.

Additionally, F.S. 189.016 requires the governing body of the special district (Agency) adopt a budget by resolution each fiscal year and under F.S. 163.387 provide each year an independent financial audit of its trust fund to each taxing authority.  Based on this organization, the audit of the Agency's assets, liabilities, income, and expenses, is included with the City's Comprehensive Annual Financial Report (CAFR) for each fiscal year.  The fiscal year CAFR is normally completed and accepted by City Council at the beginning of April of each year.  A copy of this audit is made public and provided at that time to each taxing authority upon completion and acceptance.

Other supporting financial accounting data is part of this Annual Report.  Included are the Revenue Forecasting Methodology, Capital Outlay figures, and the annual line item budget for the Agency. The complete CRA Annual Report can be found in Appendix A.  A copy of this Annual Report, as well as all previous reports, can be obtained from the City's website, MyOldsmar.com, under Community Redevelopment Agency.

  1. Summary of Accomplishments

During the reporting year, a number of activities occurred consistent with the budget and the goals of the CRA. The City purchased a commercial property as part of the Oldsmar Town Center located adjacent to City Hall.  The existing building was demolished in preparation for development of the Oldsmar Town Center.  The City Council, acting as the CRA Agency, held several workshops to discuss concepts, strategies, and regulations in the CRA.  A Town Center Concept Plan was approved for the Oldsmar Town Center.  An RFP was issued for this property and the city owned property adjacent to the Library; negotiations are in process for the development of the two properties.

Kimley-Horn and Associates, Inc. was retained in 2017 to develop a Citywide Multimodal Transportation Plan to improve upon the connectivity around the City for all types of users.  The plan was completed and includes short term and long term strategies and priorities to address multiple modes of transportation which includes golf cart elements.  

A Water Main Replacement project has been completed.  

State Street Center was opened in October 2018 offering a variety of activities for all age groups, including hosting Live and Virtual health programs for City Employees and the community.

Stormwater/sidewalk improvements, street resurfacing, and the annual CRA sign program are being completed as funds become available. 

The following section of the report provides additional information and description about the above mentioned projects. 

The City is actively pursuing the development of an eight  acre (mol), City-owned parcel in downtown Oldsmar, adjacent to City Hall, know as the Oldsmar Town Center.  The demolition of a City-owned building and vacation of the adjacent alley and right-of-way was completed as a preparation step for the upcoming development.

The proOldsmar Town Center Concept Planperty is vacant and available for  redevelopment. As shown in the conceptual plan above, the plan may include  a parking garage, residential amenities, commercial amenities, interactive public park space with a  fountain, and a future hotel with a rooftop bar and a restaurant. Commercial amenities along State Street will include wide sidewalks providing additional space for outdoor activities along State Street.  

The design includes a City Plaza with a fountain. Although a City plaza or interactive public park would not generate additional Tax Increment Financing funds, it would benefit the residents of Oldsmar and provide a primary focus of the Oldsmar Town Center Project.  

The City is also in negotiations for a potential Black Box Theatre, proposed as a redesign concept of one of the city owned buildings located  within the CRA area. This theatre will  provide a flexible performance space for a range of activities within the CRA  and include a simple design.  The Black Box Theatre is presented as an anchor for a larger proposed live-work/townhome project located next to the City Library.

The City was awarded a Complete Streets Grant for a portion of St. Petersburg Drive from Dartmouth Avenue to Bayview Boulevard. The City intends to improve this portion of St. Petersburg Drive by culverting existing drainage ditches, create a shared multimodal trail, and provide enhanced street crossings and intersections. Additionally, the area will be landscaped and pedestrian-scaled lighting will be installed. The project will continue what has already been completed in front of the Oldsmar Library and is in keeping with The Oldsmar Multimodal Transportation Plan

Providing pedestrian-friendly connections, electric automobile charging stations, and frequent transit service will enable people to move easily within Oldsmar. Improving connectivity will also allow for easier and safer travel for all modes of transportation, including motorists, cyclists, transit users, pedestrians, and even golf cart users. Golf carts are permitted on City streets within the CRA.  

The City continues to pursue funding for a Tampa Road Overpass at the intersection of Tampa Road and St. Petersburg Drive to  provide a safe connection between the CRA and the north part of the City.  The City purchased the land needed for the north part of the overpass.  It is anticipated that design of the overpass could commence once funding is obtained.

Downtown Water Main Replacement ProjectThe Downtown Water Main Replacement Project  was completed in the summer of 2020. This multi-year, multi-faceted project was constructed under budget at approximately $2.2 M. This project included the replacement of more than 18,000 linear feet of potable water piping, extension of 2,000 linear feet of reclaimed water service, replacement of 17 fire hydrants and installation of more than 250 water services with touch-read water meters.  The work has improved water pressure and quality in the downtown area.  

In addition to the City seeking to develop City owned property in the CRA, a new Medical Office was constructed and Phase 1 of construction for an Accounting and Retail Services use  has begun in the downtown area. In addition, a Site Plan has been approved for new construction of a Medical Office along S.R. 580.  

Two townhomes of an approved fifteen (15) unit townhome developments have been completed  and sold. 

The City also issued several residential permits for the new single family homes located within the CRA in the last year. These homes feature architectural standards, they are consistent with the Town Center Code and are in compliance with the new FEMA flood maps and elevations. 

A CRA Business Incentive Grant Program was designed to stimulate and leverage investment by businesses in certain areas of the CRA and is available for start-up costs or retrofitting interiors of existing structures. 

Projects must represent permanent improvements that will remain despite lease terminations or sale of properties.  The City of Oldsmar will match 50% of the amount spent on materials only for improvements up to a maximum $5,000 match. Only one grant application was approved in 2013 for interior modifications of a new barber shop.

Renovated 1918 bungalowThe Paint-Up, Fix-Up Grant Program has continued to assist property owners within the CRA to improve their home’s appearance. The program provides a 50% reimbursement of costs, up to $1,000 to qualified homeowners, that need to complete exterior beautification such as  exterior painting, home improvements, and hazard mitigation projects.

Since program implementation, 71 applications have been approved and over $46,521 has been distributed to homeowners in the CRA. Continued membership in the Florida Redevelopment Association provides resources for redevelopment efforts and access to other communities with CRAs.  

All of these improvements, projects and activities that are discussed have been completed or are in the planning stages and are consistent with the parameters and intent of the Town Center Plan as adopted by the Agency. 

  1. Other Activities in the CRA

The OldOldsmar in Focussmar CRA prevailed in 2020 through the COVID-19 Pandemic. Prior to mass closures, City Hall exhibited the Oldsmar in Focus gallery, showcasing work by local photographers of all things unique around the CRA and the City.

Although annual face-to-face events were sidelined, residents and businesses embraced new opportunities to help with those in need.  The Upper Tampa Bay Chamber of Commerce, housed in the Oldsmar Bank Building at the heart of the CRA, became a distribution point for free face masks. When recreational programs were sidelined, State Street Center evolved into a grab and go drive-thru site for elementary school children. Through a partnership with Feeding Tampa Bay, pre-package breakfast and lunch bags were provided to local families at the location when schools went virtual.

The Oldsmar Public Library was designated as the official Information Center, providing relevant information to callers seeking assistance for their household or business.  The popular Story Time with Mr. Anthony series turned into an animated video series through permission obtained from various publishing houses for authorized use of their materials. Take and Make Crafts were provided to Library patrons, who could follow instructions on a Facebook Live stream. Veterans Day was celebrated virtually with a live stream event in the Council Chamber, allowing the City to continue their homage to those who serve our nation. 

The newesTAKING FLIGHT RIBBON CUTTING t addition to the CRA is ‘Taking Flight’, an interactive sculpture strategically located next to the Oldsmar Council Chamber. The pair of 12-foot tall wings are made of stainless steel, which visitors can ‘wear’ by standing in front of them.  

The holiday season kicked off with a virtual Tree Lighting Ceremony at City Hall. The Facebook Live event featured holiday songs by a local singer and the Citizen of the Year continued the tradition of officially lighting the large Christmas Tree for the community to enjoy.  Golf cart owners were overjoyed at the opportunity to participate in the Holiday Golf Cart Parade. The long line of festively decorated entries meandered throughout the CRA, bringing joy and hope to all.

  1. FINANCIAL DATA
  • Annual Budget, Revenue Forecast Methodology
  • Annual Budget, Fund Description
  • Capital Improvement Budget, Community Redevelopment
  • Community Redevelopment Agency Fund, Service Program
  • Community Redevelopment Agency Fund Fiscal Year Ending September 30, 2020
  • Balance Sheet - Government Funds, September 30, 2020
  • Statement of Revenues, Expenditures, and Changes in Fund Balances for the Year ended September 30, 2020
  • Budgetary Comparison Schedule - Major Governmental Fund - Community Redevelopment Agency Special Revenue Fund for the Year ended September 30, 2020 
  • Appendix A - CRA Annual Financial Report Fiscal Year Ended September 30, 2020

___________________________________________________________________________________________________________________

This is the twenty-fifth year that funds have been budgeted, and the total budget for the fund next year is $774,600.  Total Current Ad Valorem taxes and Pinellas County's aggregate share of the tax increment financing revenues have increased to a total of $726,100.

Per Florida Statute 163.371 (2) (b)

1. Total Number of Projects started and completed and estimated cost per project: Complete Streets (St. Petersburg Dr.) project started, estimated cost of $2.8 million / No projects completed

2. Total expenditures from the redevelopment Trust Fund: $1,203,969

3. 1996 (base year) Total Taxable Value: $16,876,400

4. 2020 Total Taxable Value: $100,871,054

5. Total amount expended for affordable housing for low-income or middle-income residents; $0

  1. annual budget, revenue forecast methodology

The purpose of detailing forecast methodologies for revenues is to determine the validity of the forecast over time and to utilize such information in making future forecasts.

The following are some assumptions concerning revenues which were made across all funds:

FUNDS/REVENUE SOURCES
FORECAST METHODOLOGY
Investment EarningsInvestment earnings are calculated based on estimated cash balances at assumed rates of return, considering timing of cash needs.
Appropriated ReserveFunds carried forward that are available to meet commitments.


The following is information on a fund-by-fund basis for revenues forecasted in this budget document:

GENERAL FUND

Ad Valorem TaxesApproved millage multiplied by tax roll, less 5% for assumed non-collection and/or discounts taken for early payment.
Franchise FeesHistorical trend analysis.
Utility TaxesHistorical trend analysis.
Communication Services TaxState's forecast, adjusted for historical trend analysis.
Business Tax ReceiptsHistorical trend analysis.
Permits - All TypesHistorical trend analysis.
State Revenue SharingState's forecast, adjusted for historical trend analysis.
Half-Cent Sales TaxState's forecast, adjusted for historical trend analysis.
Shared Revenue from County-LibraryEstimate provided by Pinellas Public Library Cooperative.
Payment in Lieu of TaxesContract (with inflation factor).
Other Shared RevenuesHistorical trend analysis.
Recreation FeesDepartmental estimate based on current fees.
Other Charges for ServicesHistorical trend analysis.


PUBLIC SAFETY IMPACT FUND

Public Safety Impact FeeHistorical trend analysis, adjusted for projected growth in construction.


PARKLAND DEDICATION FUND

Land Dedication FeesHistorical trend analysis, adjusted for projected growth in construction.


MULTIMODAL IMPACT FUND

Multimodal Impact FeesHistorical trend analysis, adjusted for projected growth in construction.


COMMUNITY REDEVELOPMENT AGENCY FUND

Ad Valorem TaxesApproved millage multiplied by tax roll, less 5% for assumed non-collection and/or discounts taken for early payment.
Multimodal Impact FeeHistorical trend analysis, adjusted for projected growth in development of property located within the CRA.


DEBT SERVICE - VETERANS MEMORIAL PARK

Utility Taxes (Electricity)Debt Service schedule determines payment.
Harbor Palms InfrastructureDebt Service schedule determines payment.


CAPITAL IMPROVEMENT FUND

Local Option Gas TaxState's forecast, adjusted for historical trend analysis.
Local Infrastructure Tax (Penny for PInellas)Pinellas County's forecast, adjusted for historical trend analysis.


WATER & SEWER OPERATING FUND

Water SalesHistorical trend analysis.
Reclaimed Water SalesNumber of homes anticipated to be using reclaimed water, assuming the minimum rate.
Water Connection FeesHistorical trend analysis, adjusted for projected new construction.
Fire Protection FeesFixed fee multiplied by projected number of square feet of business space with sprinkler system.
Return Check ChargesHistorical trend analysis.
Water Meter InstallationsHistorical trend analysis, adjusted for projected new construction.
Penalty & Late ChargesHistorical trend analysis.
Wastewater SalesHistorical trend analysis.
Sewer Connection FeesHistorical trend analysis.
Discharge Permit FeesFixed fee multiplied by number (and type) of business subject to the fee.


WATER & SEWER IMPACT FUND

Water Impact FeeHistorical trend analysis, adjusted for projected growth in construction.
Sewer Impact FeeHistorical trend analysis, adjusted for projected growth in construction.


STORMWATER UTILITY FUND

Stormwater Utility Fee
(Residential & Commercial)
Historical trend analysis adjusted for projected growth in construction.


SOLID WASTE FUND

Charges for Services - Solid WasteEstimate based on current rates and number of customers.
  1. FUNDS DESCRIPTION

The City of Oldsmar utilizes a fund structure as outlined in the accounting regulations that govern units of local government.  A fund is a fiscal and accounting entity with a self-balancing set of accounts recording cash and other financial resources, together with all related liabilities and residual equities or balances and changes therein, which are segregated for the purpose of carrying on specific activities or attaining certain objectives in accordance with special regulations, restrictions, or limitations.  Funds are divided into various types according to the legal restrictions imposed upon them or the uses to which the funds may be utilized.  The breakdown of the City's fund structure is as follows:

I. Governmental Funds - Accounted for on a "spending" or "financial flow" measurement focus.  Accordingly, the budgeted fund balances provide an indicator of available, spendable, or appropriable resources.

a. General Fund - The general fund of a government unit serves as the primary reporting vehicle for current government operations. The general fund, by definition, accounts for all current financial resources not required by law or administrative action to be accounted for in another fund.

b. Special Revenue Funds - Account for the proceeds of revenue sources that are legally restricted by expenditure for specific purposes.  These are:

  • Public Safety Impact Fund
  • Parkland Dedication Fund
  • Multimodal Impact Fund
  • Community Redevelopment Agency

c. Debt Service Funds - Account for the accumulation of resources for payment of interest and principal on general long-term debt.

  • Debt Service - Veterans Memorial Park
  • Debt Service - Harbor Palms Infrastructure Improvements

d. Capital Project Funds - Account for the accumulation of funds for the purpose of constructing major projects and improvements.

  • Capital Improvement Fund