Fort Walton Beach Council agenda — 01-11-11 regular — reading text

future ideas and direction for the CRA area for 2010 -2012 in order to stay in tune with the direction and goals of the Council. Mr. Beedie presented an overview and explained the CRA is funded through Tax Increment Financing TIF) revenue, and there are two methods of TIF financing: a pay as you go method, whereby money collected through the TIF is allocated for projects for that year; and the pay as you use method, whereby monies are designated for a major project and financed through bonds or debt certificates and paid back over time. The CRA has used the pay as you go method in the past for small projects using revenue it had. Mr. Beedie discussed some of the opportunities open to the CRA for the upcoming fiscal year including expanding on programs already in place; looking at new and innovative ways to leverage funding for major projects, such as undergrounding utilities, including debt certificates and bonding; and acquiring blighted and vacant properties in the district to be improved and returned to the market. He noted that the CRA Board will sunset in the year 2026 and that any bonding or financing done would have to be paid back in 15 years. Special Council 10 -12 -10 JOINT MEETING (CONT) Doug Reed, CRA Chairman, advised the Board is looking for direction from Council as how to proceed since it has been awhile since Council has given them direction, and the market and conditions have changed. Mr. Reed noted the CRA has always used the pay as you go method, providing businesses and individuals the opportunity of incentives for improvements made. The Mayor asked for Council comments. Mr. Minich suggested the CRA look " outside of the box" and find large projects and ways to finance them. Mr. Minich stated the undergrounding of utilities on Eglin Parkway would be an excellent project, and that projects such as the Around the Mound and the Land Mark would have been excellent projects as well. Mr. Beedie stated he spoke with Gulf Power regarding the undergrounding of utilities about a month ago. He advised Gulf Power did a non -binding estimate several years and would do another non -binding estimate at no cost. Mr. Beedie stated a binding estimate from Gulf Power would cost between $ 10, 000 to $ 20,000 and the area covered would be from Perry to Hughes. Mr. Rigdon stated his feeling that the CRA needs to look away from the downtown area and concentrate to the north. Mr. Nabors also felt that undergrounding of utilities on Eglin Parkway is a needed project The Mayor asked for comments from the CRA Board members. Mr. Owen stated he is in favor of the undergrounding of utilities on Eglin Parkway. Mr. Pike commented large projects to create an identity for the community, and if the undergrounding of utilities would enhance the City that would be a good use of funds. Mr. Pike also discussed the use of revolving loans. Mr. Tona also spoke in favor of undergrounding utilities but reminded not to ignore the downtown waterfront, as he feels it is the City' s greatest asset. Ms. Machado feels the City needs to build its own culture to make it a draw, and suggested utilizing smaller programs that can be received through grants to improve the appearance and image of the City, in addition to the large projects. Mr. Reed advised from what he has heard, he believes everyone is on the right page and feels the Board could bring back a budget that emphasizes bonding and grant programs. Mr. Reed also stated he agrees that we need to venture away from the downtown area, but not to lose site of the waterfront. Ms. gossom stated that ongoing grant and incentive programs are essential components of any redevelopment and would encourage the Board to maintain that. She also encouraged the Board to go back and review `wish lists' that were developed by former CRA members and see what projects are still warranted and what projects can be eliminated. The Mayor asked for any additional Council comments. Mr. Rynearson stated his feeling for the need to explore opportunities to expand the CRA District. Mr. Holmes stated to take advantage of any opportunities that exist to leverage funding for projects. He also expressed the need for a definitive goal of the CRA so citizens know that the CRA is complete and that their goals have been achieved. Special Council 10 -12 -10 JOINT MEETING Mr. Rigdon commented he feels everyone is moving in the right direction, and to ensure tax dollars are being spent in the right place. Mr. Beedie advised Staff understands Council' s direction and will be a topic of discussion at the next CRA meeting. He advised Staff will work with the Board to come up with various projects to be considered. ADJOURN Being no further business, the meeting adjourned at 5: 46 p.m. APPROVED: MAYOR: ATTEST: CITY CLERK lve Date completed: 10/ 14/ 10 yt Ci City Council of Fort Walton Beach FINANCE MEMORANDUM To: Robert T. Mearns, City Manager From: Brandy Wunker, Finance Director Date: January 11, 2011 Subject: Record the removal of fixed assets in the minutes 1. BACKGROUND: 1. 1. The City undertakes an inventory of fixed assets each year to determine any fixed assets that are obsolete, uneconomical or inefficient for continued use and items that no longer serve a useful function. Pursuant to Section 274. 07, F. S., the City is required to record in the Council minutes the disposal of fixed assets identified as meeting the above mentioned criteria. 2. DISCUSSION: 2. 1. Attached is a list of items that have been identified in accordance with the Statute for the fiscal year ended September 30, 2010. These items were either disposed of, traded -in, or sold at auction. 3. FINANCIAL INFORMATION: 3. 1. The majority of the items disposed of were fully depreciated; a net gain from the disposals of $20,419. 08 was realized. 4. RECOMMENDATION: 4. 1. Staff respectfully requests authorization, pursuant to Section 274.07, F. S. to record in the Council minutes, the removal of fixed assets per the attached list from the City's accounting records. ATTACHMENTS: Agenda Disposals FYI PDF) SIGNATURE BLOCK: Brandy Wunker Completed 12/ 09/ 2010 10: 19 AM Brandy Wunker Completed 12/ 10/ 2010 11: 21 .AM Carole Jones Completed 12/ 13/ 2010 3: 14 PM City Manager Completed 12/ 27/ 2010 8: 18 AM City Council Pending  Accumulatec Acquisition Original Purchase Method of Disposal Depreciatic Asset # Description Date Price Disposal Date Type Fund Dept @ 9. 30.1( CARD CATALOG UNIT 72TRAY CIRC 04/ 16/ 71 1, 065. 00 Auction 09/ 30/ 10 E 001 1060 1, 065.( 166 08/ 19/ 86 10, 195. 00 Auction 03/ 02/ 10 V 403 1 1360 10, 195.( 245 Truck, 1986 Ford F3501 Ton Pickup 317 08/ 08/ 89 9, 049. 00 Auction 04/ 23/ 10 V 001 1010 9, 049.( Truck, 1989 Chevy 1/ 2 Ton Pickup 13, 411. 53 Sold 04/ 20/ 10 LND 001 1500 N/ A 503 13. 53 Acres of Industrial Park sold to Waste Mgmt 06/ 20/ 62 TYPERWRITER - IBM SELECTRIC 3 05/ 31/ 84 798. 00 Trash 09/ 30/ 10 E 001 0200 N/ A 613 OFFICE FURNITURE AND FIXTURES 05/ 21/ 85 788. 00 Trash 09/ 27/ 10 O 001 0320 N/ A 707 1, 200. 00 03/ 03/ 10 E 401 1340 1, 200.( 814 Tamp, Mikasa Vibratory 03/ 22/ 83 Scrap JACOBSEN FAIRWAY AERIFIER 07/ 11/ 77 1, 550. 00 Auction 09/ 27/ 10 ECC 404 0700 1, 550.( 1018 1233 09/ 30/ 85 306,468. 86 Trash 09/ 30/ 10 LIB 001 1060 306, 468. E Library Books 1234 09/ 30/ 86 30, 376. 50 Trash 09/ 30/ 10 LIB 001 1 1060 30, 376.," Library Books 09/ 30/ 87 32, 584. 83 Trash 09/ 30/ 10 LIB 001 1060 32, 584. E as 1235 Library Books 1236 09/ 30/ 88 23, 624. 83 Trash 09/ 30/ 10 LIB 001 1060 23, 624. E Library Books c 09/ 30/ 89 27, 093. 51 Trash 09/ 30/ 10 LIB 001 1060 27, 093.," 1238 Library Books 09/ 30/ 90 29, 110. 66 Trash 09/ 30/ 10 LIB 001 1060 29, 110. E 1239 Library Books 1240 09/ 30/ 91 29, 332. 86 Trash 09/ 30/ 10 LIB 001 1060 29, 332. E Library Books 1242 09/ 30/ 92 8, 339. 42 Trash 09/ 30/ 10 LIB 001 1060 8, 339. L Library Books LETTERING SYSTEM 03/ 10/ 87 708. 50 Trash 09/ 27/ 10 E 001 0400 708.: 1253 JACK - TRANSMISSION 2 ALLISON 10/ 09/ 86 1, 090. 69 Scrap 09/ 30/ 10 E 001 1220 1, 090. E 1274 1321 Shredder, Shredex Model 600 05/ 27/ 87 1, 403. 60 Auction 04/ 23/ 10 E 001 0800 1, 403. E 1349 Chair, High Back Swivel