Agenda Item Name:
Title
High Springs Community Redevelopment Agency Presentation of the Priest Theater
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Presenter:
David Sutton, CRA Coordinator City of High Springs 386-454-6225
Description:
Presentation from David Sutton on High Springs CRA 2021 regarding the acquisition of the Priest Theater borrowing up front funds from the County and repaying as a 10-year decrement from the County’s contribution to the High Springs CRA
Recommended Action:
Recommended Action
Hear Presentation
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Prior Board Motions:
On December 8, 2020 Commissioner Wheeler Motioned a substitute motion to follow staff’s recommendation (approving the High Springs Community Redevelopment Plan through December 2031 and to maintain the County’s TIF contribution to match the City of High Springs millage) to extend to 2031 on contingency of a plan presentation to the Board by July (2021)
Motion passed 4-1 With Commissioner Chestnut in dissent
On its October 22, 2019 consent agenda, the BoCC approved an extension of the High Springs CRA until the end of 2020.
At the April 11, 2019 Joint City of High Springs and Alachua County meeting County Commissioner Cornell moved that County Staff continue to work with City Staff on expanding the CRA to include this Douglas Village Project area and bring it back to the County.
The motion carried 4-0.
On October 23, 2018, the BoCC approved the following motion: To authorize a one-year extension to allow the CRA to reduce the operations to 50%. If they reach the goal with Mr. Crosby’s approval then authorize an additional one year extension can be placed on the Consent Agenda.
On November 1, 2016, the BoCC approved the following motion:
1. To approve the CRA plan for 2 years.
2. Reduce the operations and administrative cost to 50% by the time of its next approval.
3. That the Fire Suppression Initiative be a loan program.
4. That capital projects emphasize public infrastructure and services. Fiscal Consideration: In FY2018, Alachua County contributed $82,170 to City of High Springs CRA. In FY2019, the County contribution was $85,197.
Fiscal Consideration:
Fiscal Consideration
The purchase cost of the Theater is estimated at $390,000. With a 10-year repayment to the County of $39,000, the County’s CRA obligation to High Springs would be reduced to approximately $51,700 in FY20-21 using FY20-21 Ad Valorem contributions as a baseline.
The adopted BoCC High Springs CRA budget transfer for FY2020-2021 is $90,659 at 5.88 mills.
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Background:
The City of High Springs is requesting $390,000 in financial assistance from the County for the acquisition of the Priest Theater 15 NW 1st St, High Springs, FL 32643. Built in 1929, the approximately 5,000 square foot building rests on .28 acres in downtown High Springs. Parcel # 00633-000-000. The Property Appraiser lists a Just and Assessed Certified 2020 Value of $111,608.
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The Priest Theater will be a used by the City’s CRA as a community enhancement. The borrowed amount would be repaid to the County over ten years with an amortized reduction in the County’s annual obligation to the High Spring’s CRA.
Alachua County’s contribution to the TIFF currently matches the City’s millage rate of 5.88 mils. The adopted BoCC High Springs CRA budget transfer for FY2020-2021 is $90,659.
Estimated Reduction in Alachua County’s Annual CRA Obligation
FY20-21 Ad Valorem Contributions: $90,659
Less Priest Theater Repayment: $39,000
Total County Contribution to High Springs CRA: $51,659
The Total County Contribution line is an estimated value as Ad Valorem contributions will vary from year to year.
The City of High Springs Community Redevelopment Agency (CRA) is a public entity intended to implement community redevelopment activities outlined under Chapter 163, Florida Statutes. The CRA Board is comprised of the elected City Commissioners and two appointed citizens.