Fort Walton Beach Council agenda — 01-23-2007 regular agenda — reading text

r~/0 1 =- llw1C~ D: ctor Date Reviewed and Concur: f)1 o e j anahan, Gty-Manager flI7/ ate Attachments: 1. Fort Walton Beach Housing Authority letter dated 1/ 16/ 07 2. HUD Fonn calculating the PILOT funds due 3. Copy of check # 38474 4. Copy of minutes from 5/ 09/ 06, 4/ 26/ 05 and 9/ 09/ 03 Council meetings. 2 FORT WALTON BEACH HOUSING AUTHORITY 27 Robinwood Drive, SW Fort Walton Beach, Florida 32548 850) 243- 3224 Fax/ TDD ( 850) 244- 6533 EJ EClUAL HDUSIHG Gail Sansbury OPPOPlTUHITY Executive Director January 16, 2007 Joyce Shanahan, City Manager 107 Miracle Strip Parkway SW P. O. Box 4009 Fort Walton Beach, FL 32549 Dear Ms. Shanahan: Enclosed you should find our payment of Computation of Payments in Lieu of Taxes ( PILOT) for FYE June 30, 2006 in the amount of $ 20, 841.97. Please accept this letter as our formal request for consideration of a full refund of the 2006 PILOT payment to reinvest into community development. We all know this development project could enhance the extraordinary demand for affordable housing we have in this area. The funds would assist us in offsetting initial development expenses incurred in adding two hundred additional units at Germany Terrace. Unfortunately, the use of federal funds to initiate this project is not permissible for our agency. The Department of Housing Urban Development does not allow funds to be utilized for the additional two hundred units and nor dotheyallow the initial investment for financial and legal advisors to coordinate the development project. As leaders of this community, it is crucial that we work together to find these initial funds. Further resources into our community to handle this magnitude of a project are desperately needed. Together with the ofthe support and other city goal to find organizations, our initial capital can be obtained. If there is any further information or supporting documentation that you need to support our request, please feel free to contact our Executive Director, Gail Sansbury, at 850- 243- 3224, Ext. 208. Thank you for your time and consideration. Sincerely, J es . Robbins Board Chairman Board of Commissioners " Working Together For A Difference" James Robbins, Chainnan . Rev. Earl Tyler, Vice Chainnan. Bernard Johnson . Pat Thornber' Frederick Thomas . Lin Mack Computation of Payments U. S. Department of Housing and Urban Development Office of Public and Indian Housing in Lieu of Taxes For Fiscal Year Ended 2006 OMB Approval No. 2577- 0072 ( Exp. 11/ 30/ 2007) and reporting the data, The Public reporting burden for the collection of information is estimated to average . 4 hours. This includes the time for collecting, reviewing, for PHA exemptions from real and Information will be used for HUD to ascertain compliance with requirements of Section 6( D) of the U. S. Housing Act, whiCh provides to this request for information is required in personal property taxes, and inclusion in the formula data used to determine public housing operating subsidies. Response order to receive the benefits to be derived. This agency may not collect this information, and you are not required to complete this form unless It displays a currently valid OMB control number. Name of Local Agency: Location: Contract Number: Project Number: Fort Walton Beach Hsg. Authority I Fort Walton Beach, Florida A- 2336 II FL069001- 002 Part I - Computation of Shelter Rent Charged. 386, 616. 13 1. Tenant Rental Revenue ( FDS Line 703) $ 1, 933. 54 2. Tenant Revenue Other ( FDS Line 704) 388, 549. 67 3. Total Rental Charged ( Lines 1 & 2) $ 130,425. 00 4. Utilities Expense ( FDS line 931 - 939) 258, 124. 67 5. Shelter Rent Charged ( line 3 minus Line 4) Rent Collected.) Part II - Computation of Shelter Rent Collected. To be completed only if Cooperation Agreement provides for payment of PILOT on basis of Shelter 258, 124. 67 1. Shelter Rent Charged ( line 5 of Part I, above) $ 2. Add: Accounts Receivable - Tenants ( FDS lines 126, 126. 1, & 126. 2) at beginning of fiscal year 6, 619. 00 27, 970. 00 3. Less: Tenant Bad Debt Expense ( fDS line 964) 15, 354. 00 4. Less: Accounts Receivable - Tenants ( fDS lines 126, 126. 1, & 126. 2) at end of fiscal year 221, 419. 67 5. Shelter Rent Collected ( line 1 plus Line 2 minus lines 3 & 4) Part III - Computation of Approximate Full Real Property Taxes. 1) Taxing Districts ( 2) Assessable Value ( 3) Tax Rate ( 4) Approximate full Real Property Taxes 0. 00 Total real property taxes exceed 20% Part IV - Limitation Based on Annual Contribution. ( To be completed if Cooperation Agreement limits PILOT to an amount by which of annual contribution.) 1. Approximate full real property taxes $---~ 2. Accruing annual contribution for all projects under the contract $ 3. Pro rata share of accruing annual contribution" 0. 00 4. 20% of accruing annual contribution ( 20% of Line 3) 5. Approximate full real property taxes less 20% of accruing annual 0. 00 contribution ( Line 1 minus Line 4, If Line 4 exceeds Line 1, enter zero) $ Part V - Payments in Lieu of Taxes. 1. 10% of shelter rent ( 10% of Line 6 of Part lor 10% of Line 5 of Part II. 22, 141. 97 whichever is appllcable)** Less City A'1. ow;;mc J. e $ 00) $ 1300. 20, 841. 97 2. Payments in Lieu of Taxes ( If Part IV is not applicable, enter the amount ( shown on Line 1, above, or the total In Part III, whichever is the lower. If Part IV is applicable, enter the amount shown on Line 1, above, or the amount shown on Line 5 of Part IV, whichever Is lower.) If this statement does not include all projects under the Annual Same as Line 2 if the statement includes all projects under the Annual Contributions Contract. Contributions Contract, enter pro rata share based upon the development cost of each project,