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ANNUAL REPORT 2011-2012 Casselberry Community Redevelopment Agency March 2013

Casselberry Community Redevelopment Agency · Page 3 CASSELBERRY COMMUNITY REDEVELOPMENT AGENCY ... BALANCE SHEET: ASSETS Cash ... Bojangles - Currently in the

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ANNUAL REPORT 2011-2012

Casselberry Community Redevelopment Agency

March 2013

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ANNUAL REPORT 2011-12 Overview & Purpose

In 1995, the Casselberry Community Redevelopment Agency (CRA) was estab-lished. The primary function of the CRA is the redevelopment of a designated Community Redevelopment Area. There is a seven member Board of Commissioners that oversees the activities of the Redevelopment District. Casselberry’s City Commission functions as the Local Governing Authority.

This report, for fiscal year 2011-2012, is being filed concerning the annual redevel-opment activities of the Casselberry Community Redevelopment Agency. It was prepared and filed consistent with Florida Statute 163.356(3)(c). The CRA is required by the Com-munity Redevelopment Act to submit a progress report of the year’s community redevelop-ment activities, including a complete financial statement of assets, liabilities, income and expenses [FS163.356(3)(c)].

Additionally, FS189.418 requires that (1) the governing body of the special district (Agency) adopts a budget by resolution each fiscal year under FS163.387(8), and (2) pro-vides each year an independent financial audit of this trust fund to each taxing authority that pays into the trust fund. Based on this organization, the audit of the agency’s assets, liabili-ties, income and expenses, as required under FS163.356(3)(c) was done by Moore Stephens Lovelace, P.A., and is available for review. A copy of this audit will be made public upon completion and acceptance and provided at that time to the sole taxing authority, Seminole County.

A Message from the CRA Chairman, John Jones

The CRA has experienced great progress this year. The acquisition of the Black’s Automotive parcel brings a more desirable footprint with the neighboring City-owned properties. This CRA venture occurred over an extensive period of time with a successful outcome.

The Lake Concord area is on the cusp for redevelopment. The developer selection process took approximately six months. Proposals were submitted to a Winter Park area con-sulting firm who conducted environmental and feasibility analysis as well as defined an in-vestment framework. The developers were selected based on the merit of design concept, how they would incorporate the City’s guiding principles, and their design elements which would ultimately create a new “front door” for the City of Casselberry. This proposed public-private partnership with Integra Land Company and CASTO Southeast Realty Services involves a mixed-use project of new restaurants, commercial, and multi-family housing.

Without reauthorization by the Seminole County Commission, the Casselberry CRA is scheduled to sunset in 2015, just two years from now. It is the desire of the City to secure an extension as there is still a great amount of remaining projects left to complete. In turn, the CRA staff is working with the CRA Board to update the CRA plan. The draft will go before the Casselberry City Commission for review.

Finally, I would like to personally acknowledge all of my CRA Board colleagues and extend a welcome to our newest board members, Jerry Moore and Matthew Alfred.

Page 2 CASSELBERRY COMMUNITY REDEVELOPMENT AGENCY

The Casselberry Community Redevelopment District (CRD) is aligned primarily along US Highway 17-92, between SR 436 and Seminola Boulevard. It consists of approximately 500 acres of land and is located in the commercial center of Casselberry that was originally settled and incorporated into the City limits in 1940.

The Casselberry Community Redevelopment District

Page 3 CASSELBERRY COMMUNITY REDEVELOPMENT AGENCY

Applebee’s Restaurant

Plans are approved for Applebee’s, a casual dining bar and grill, to construct a 5,553 square foot restaurant in the outparcel, located at 3315 South U.S. Highway 17-92 of the Casselberry Collections shopping plaza. A covered outdoor patio dining area of 555 square feet is included in the building’s overall square footage. The former Chinese Grand Buffet will be demolished. This redevelopment project improves the open space by 181 square feet. This site is located along one of the busiest commercial corridors in the Central Florida area, in one of the City’s high intensity, non-residential districts. Applebee’s estimates opening their doors in late summer / early fall 2013.

REVENUES EXPENSES

Tax Increment $ 435,373 General Government $ 133,200

Interest Income $ 3,890 Debt Service on Behalf Interest $ -

TOTAL REVENUES $ 439,263 TOTAL EXPENSES $ 133,200

BALANCE SHEET:

ASSETS

Cash and Cash Equivalents $ 1,161,524

Property & Equipment $ 2,265,806

Total Assets $ 3,427,330

LIABILITIES

Vouchers Payable $ 30,000

Due to Other Governments $ -

Total Liabilities $ 30,000

FUND BALANCES

Investments in Capital Assets $ 2,265,806

Unreserved, Undesignated $ 1,131,524

Total Fund Balances $ 3,397,330

Other Current Assets $ -

CASSELBERRY COMMUNITY REDEVELOPMENT AGENCY Page 4

Financials for Fiscal Year 2012 (October 1, 2011 - September 30, 2012)

Page 5

In July of 2012, the CRA Board purchased the Black’s Automotive site, located at 4135 South U.S. Highway 17-92. The agreement was structured to allow for the site to be leased back by Black’s Automotive. This site was high priority for acquisition due to its location. The automotive dealership is housed between two City-owned sites, the Casselberry Police Station and the 1.9 acre Lake Concord property. The purchase of this site allows for a larger developable footprint with possible assemblage of neighboring parcels. It is situated along beautiful Lake Concord and has a lighted boardwalk abutting the property.

US Highway 17-92 Transition in Process

Acquisition of Key Property

Negotiations are underway with two developers, Integra Land Company and CASTO Southeast Realty Services, to construct a mixed-use project within the Lake Concord area, located along South US Highway 17-92. The proposed developers were selected after an extensive process managed by the City and commu-nity growth experts from ACi, a Winter Park consulting firm. The proposed public-private partnership is intended to present a 21st century blend of residential and lifestyle development designed to transform this area of land and leverage Lake Concord as the backdrop for multi-family residential, dining, and cultural amenities. CRA and City-owned properties are included in the proposed project.

CASSELBERRY COMMUNITY REDEVELOPMENT AGENCY

Lake Concord Area

Page 6

US Highway 17-92 Flyover Project

The US Highway 17-92 Flyover is a transportation project that has been pending for many years. The interchange project consists of a new U.S. Highway 17-92 bridge which flies over State Road 436. This year, the Florida Department of Transportation has made major steps in the acquisition of all the properties needed for the right-of-way. Acquisition was complete by summer 2012. The project is now funded for construction by FDOT with an estimated commencement date of late 2013. An approximate three year duration is estimated for completion.

With the coming of new transporta-tion infrastructure projects, a sig-nificant private sector investment is possible. The CRA will continue to take a proactive approach with cre-ating new high-quality development for the area.

CASSELBERRY COMMUNITY REDEVELOPMENT AGENCY

Pre-CRA Involvement

With CRA Participation

The City of Casselberry

Commission Administrative Staff

Mayor Charlene Glancy Randy Newlon, City Manager

Commissioner/Vice Mayor Sandi Solomon Sandra Smith, Interim Community Development Director

Commissioner Colleen Hufford Pamela Lynch, Economic Development Coordinator

Commissioner Anthony Aramendia Kyle Dudgeon, Economic Development Planner

Commissioner Gene Fry Joni Dixon, Senior Staff Assistant

Casselberry Community

Redevelopment Agency

Mr. John Jones, Chair

Mr. Dave McGregor, Vice Chair

Mr. Alan Trueba

Mr. John Stark

Ms. Leslie Peters

Mr. Jerry Moore

Mr. Matthew Alfred

The City of Casselberry, 95 Triplet Lake Drive, Casselberry, FL 32707

407-262-7700 Ext. 1109, Fax 407-262-7763, www.casselberry.org

Other development and redevelopment projects underway in the CRD include:

► Waffle House - Plans are approved for construction of a 1,875 square foot restaurant on an outparcel located in Oxford Square Plaza. The outparcel site is currently undeveloped but was the former location of a Checkers fast food drive-thru building. ► Bojangles - Currently in the site plan approval process, Bojangles proposes to construct a 6,000 square foot restaurant with a drive-thru. Located at the northeast corner of Oxford Road and State Road 436, the undeveloped outparcel was the previous location of Murray’s Wings & Ribs. ► Veritas Park Academy - In August 2012, this intermediate, private school located to Oxford Square Plaza. Veritas Park Academy offers a program for third to eighth graders. Courses are designed to meet public school credits. Students experience literature, technology, science, engineering, and math components, as well as a curriculum with music and art elements. ► Rivera Family Chiropractic Center - Doctors Omar and Alicia Rivera wished to expand their chiropractic business and chose Casselberry as their third location. In August 2012, the Rivera Family Chiropractic Center commenced operations at Cambridge Oaks, 3950 South U.S. Highway 17-92. A wide range of chiropractic services are offered.