Fort Walton Beach Ordinance — 2011--Expand CRA Bondaries — reading text

READING DAT 1St 2nd a ORDINANCE 2011 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF FORT WALTON BEACH, FLORIDA, PERTAINING TO COMMUNITY REDEVELOPMENT; MAKING FINDINGS, PROVIDING FOR THE PAYMENT OF INCREMENT REVENUES DERIVED FROM THE EXPANDED REDEVELOPMENT AREAS INTO THE REDEVELOPMENT TRUST FUND; PROVIDING FOR THE USE OF SUCH FUNDS; AND PROVIDING FOR AN EFFECTNE DATE. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WALTON BEACH, FLORIDA AS FOLLOWS: Section 1. Authority and Intent The authority for enactment of this ordinance is contained in Chapter 166. 021, 163. 353, and other provisions of the Florida Statutes and Section 2 of the City Charter. Section 2. Findings and Determinations a) On June 9, 1981, the City Council enacted Ordinance No. 726, which created and established a redevelopment trust fund pursuant to the provisions of Section 163. 387, Florida Statutes, for the Fort Walton Beach Community Redevelopment Agency, and provided for the funding thereof in accordance with Section 163. 387( 1), Florida Statutes. b) On August 13, 1996, the City Council adopted Resolution No. 96- 14, which found conditions of blight existed in a certain area of the City of Fort Walton Beach described therein ( such area being hereinafter referred to as the " Expanded Redevelopment Area"). c) On August 1 l, 1998, the City Council adopted Resolution No. 98- 10, which adopted a community redevelopment plan for the Redevelopment Area ( as that term is defined in Ordinance No. 726) and for the Expanded Redevelopment Area. d) On May 21, 2019, the City Council adopted Resolution No. 2019- 6, which found conditions of blight existed in certain areas of the City of Fort Walton Beach described therein ( such area being hereinafter referred to as the " 2019 Expanded Redevelopment Areas"). e) On May 21, 2019, the City Council adopted Resolution 2019- 7, which adopted a community redevelopment plan for the existing redevelopment area ( original redevelopment area and expanded redevelopment area) and for the 2019 Expanded Redevelopment Areas. The City Council of Fort Walton Beach finds that all notice requirements for enactment of the ordinance have been met in accordance with the Florida Statutes and the City' s Land Development Code. Redevelopment g) By the enactment of Ordinance No. 726 by the City Council, the  Trust Fund ( the " Fund") was established and created, in accordance with the provisions of Part III, Chapter 163, Florida Statutes, the Community Redevelopment Act ( the " Act"), which fund is utilized and expended for the purposes of and in accordance with the community redevelopment plan in effect from time to time, including any " community redevelopment", as that term is defined in Section 163. 340( 9), Florida Statutes, under the Plan. Section 3. The monies to be allocated to and deposited into the Fund shall be used to finance " community redevelopment" within the Area according to increment revenues attributed to the Redevelopment Area, Expanded Redevelopment Area, and 2019 Expanded Redevelopment Areas. The Agency shall utilize the funds and revenues paid into and earned by the Fund for community redevelopment purposes as provided in the Plan and as permitted by law. The Fund shall exist for the duration of the " community redevelopment" undertaken by the Agency pursuant to the Plan to the extent permitted by the Act. Section 4. There shall be paid into the Fund each year by each of the " taxing authorities" as that term is defined in Section 163. 340( 2), Florida Statutes, levying ad valorem taxes within the 2019 Expanded Redevelopment Areas, a sum equal to ninety- five percent ( 95%) of the incremental increase in ad valorem taxes levied each year by that taxing authority, as calculated in accordance with Section 6 of this Ordinance and the Act, based on the base tax year established in Section 5 of this Ordinance ( such annual sum being hereinafter referred to as the 2019 Expanded Areas Increment Revenues"). Section 5. The most recent assessment roll used in connection with the taxation of property prior to the effective date of this Ordinance shall be the preliminary assessment roll of taxable real property in Okaloosa County, Florida, prepared by the Property Appraiser of Okaloosa County, Florida, and filed with the Department of Revenue pursuant to Section 193. 1142, Florida Statutes, reflecting valuation of real property for purposes of ad valorem taxation as of January l, 2020 (" the base year value"), and all deposits into the Fund shall be in the amount of the 2019 Expanded Areas Increment Revenues increment as provided in Section 6 hereof based upon increases in valuation of taxable real property from the base year value. Section 6. The 2019 Expanded Areas Increment Revenues shall be determined and appropriated annually by each taxing authority, and shall be an amount equal to ninety- five percent ( 95%) of the difference between: a) That amount of ad valorem taxes levied each year by all taxing authorities on taxable real property located within the geographic boundaries of the Expanded Redevelopment Area; and b) That amount of ad valorem taxes which would have been produced by the rate upon which the tax is levied each year by or for all taxing authorities, upon the total of the assessed value of the taxable real property in the 2019 Expanded Redevelopment Areas as shown upon the assessment roll used in connection with the taxation of such property by all taxing authorities, prior to the effective date of this Ordinance. Section 7. All taxing authorities shall annually appropriate to and cause to be deposited in the Fund the 2019 Expanded Areas Increment Revenues determined pursuant to Section 6 of this Ordinance at the beginning of each fiscal year thereof as provided by the Act. The obligation of each taxing authority to annually appropriate the Expanded Area Increment Revenues for deposit in the Fund shall commence immediately upon the effective date of this Ordinance and continue to the extent permitted by the Act. Section 8. The Fund shall be maintained in a separate trust fund by the Agency so that the Fund may be promptly and effectively administered and utilized by the Agency expeditiously and without undue delay for its statutory purpose pursuant to the Act. Section 9. The governing body of the Agency shall be the trustees of the Fund and shall be responsible for the receipt, custody, disbursement, accountability, management, investments and proper application of all monies paid into the Fund. Section 10. Any and all ordinance or resolutions or parts of ordinances or resolutions in conflict herewith are hereby repealed. Section 11. If any part of this Ordinance is held to be invalid or unenforceable for any reason, such holding shall not affect the validity or enforceability of the remainder of this Ordinance, which shall remain in full force and effect. Section 12. Effective Date This ordinance shall take effect immediately upon approval by City Council on second reading and signature of the Mayor. Adopted: . 1 e_ S_, Richard A. Rynearson, ayor Attest: Approved for form, le c ency N'' t i' rj Kim . Barnes, City Clerk Dykes, r., A ey y FlpÌppA  N y g f : O a a