DEPARTMENT MAKING REQUEST
Budget & Admin Services
Title
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Termination of the Punta Gorda CRA (Community Redevelopment Agency)
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REQUESTED MOTION/ACTION
recommendation
Recommended Action:
a) Approve Resolution terminating the CRA (Community Redevelopment Agency) of the City of Punta Gorda, the Redevelopment Area, and 1990 Punta Gorda Downtown Redevelopment Plan; and
b) Authorize the Chairman to sign Resolution.
**Change, Updated wording in Budgeted Action, 5/22/2024**
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budget
Budgeted Action:
No action needed. Collection of ad valorem to general fund will be reflected in the FY25 budget for review as part of the July Tentative Budget. Budgeted in the General Fund - Parkside CRA budget approved in the FY2024 budget process. Funding for the expenditure comes from General Fund Ad Valorem Revenues.
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BACKGROUND (Why is this Action Necessary, and What Action will be accomplished)
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Background:
The Board and the City Council entered into an Interlocal Agreement on June 8, 2012, extending the City of Punta Gorda CRA Plan until December 31, 2030, or to sunset it upon full retirement of the debt and any other obligations contemplated by the Interlocal Agreement. The City Council has informed us the debt has been retired and to proceed with the termination.
The Florida Legislature created the Truth In Millage (TRIM) Act to inform taxpayers which governmental agencies are responsible for the property taxes levied. Truth in Millage also establishes the statutory requirements the taxing authorities are to follow when levying a millage to collect taxes. The property appraiser starts the TRIM process by certifying the tax roll and valuations to the taxing authorities by July 1st and by sending out the TRIM notice to the property owners by August 24th. The taxing authorities will then hold a budget workshop in July and public hearings in September to adopt the millage rate and budget via resolutions. Finally, the property appraiser certifies the...
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