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Home My WebLink About06-03-2025 Agenda PacketFIFTY WEST OCOEE COMMUNITY REDEVELOPMENT AGENCY Ocoee Commission Chambers 1 N. Bluford Avenue Ocoee, Florida June 3, 2025 CRA REGULAR MEETING • CALL TO ORDER Roll Call and Determination of Quorum • PUBLIC COMMENTS • OLD BUSINESS • NEW BUSINESS 1. Approval of Minutes of the March 4, 2025, CRA Regular Meeting 2. 2024 Audit Presentation 3. FY2025 Budget Amendment • MISCELLANEOUS 1. Project Updates • BOARD COMMENTS •ADJOURNMENT 5:00 PM NOTICE: IN ACCORDANCE WITH FLORIDA STATUTE 286.0105: ANY PERSON WHO DESIRES TO APPEAL ANY DECISION AT THIS MEETING WILL NEED A RECORD OF THE PROCEEDINGS AND FOR THIS PURPOSE MAY NEED TO ENSURE THAT A VERBATIM RECORD OF THE PROCEEDINGS IS MADE WHICH INCLUDES THE TESTIMONY AND EVIDENCE UPON WHICH THE APPEAL IS BASED. IN ACCORDANCE WITH FLORIDA STATUTE 286.26: PERSONS WITH DISABILITIES NEEDING ASSISTANCE TO PARTICIPATE IN ANY OF THESE PROCEEDINGS SHOULD CONTACT THE OFFICE OF THE CITY CLERK, 1 N. BLUFORD AVENUE, OCOEE, FL 34761, (407) 905 -3105, 48 HOURS IN ADVANCE OF THE MEETING. Page 1 of 54 FIFTY WEST OCOEE COMMUNITY REDEVELOPMENT AGENCY Ocoee Commission Chambers 1 N. Bluford Avenue Ocoee, Florida March 4, 2025 MINUTES 5:00 PM CRA REGULAR MEETING - CALL TO ORDER Chair Wilsen called the Community Redevelopment Agency Board to order at 5:00 PM in the Commission Chambers of City Hall. Recording Clerk Justice called roll and declared a quorum present. Roll Call: Chair Wilsen, Vice -Chair Kennedy, Member Johnson, Member Firstner, Member Oliver, and Member Koovakada (arrived at 5:20 PM). Absent: Member June Also Present: City Manager Shadrix, Assistant City Manager Rumer, Development Services Director/CRA Administrator Corless, Redevelopment Program Manager Vaca, City Attorney Geller, and Recording Clerk Justice -PUBLIC COMMENTS No speaker reservation forms were received. -OLD BUSINESS - None - NEW BUSINESS Approval of Minutes of the September 17, 2024, CRA Board Meeting Member Firstner, seconded by Vice -Chair Kennedy, moved to approve the CRA Regular Meeting Minutes of September 17, 2024, as presented. Motion carried 5-0 with Member June and Member Koovakada absent. 2. Election of Officers A memorandum was provided in the CRA packet which identified the Chair and Vice -Chair for the past seven fiscal years, including the current year. Brief discussion ensued. Page 2 of 54 CRA Meeting March 4, 2025 Member Firstner, seconded by Member Johson, moved to nominate Vice -Chair Kennedy as CRA Board Chair. Motion carried 5-0 with Member June and Member Koovakada absent. Brief discussion ensued regarding who had not previously served as Vice -Chair. Member Johnson, seconded by Member Firstner, moved to nominate Member Koovakada as CRA Board Vice -Chair. Motion carried 5-0 with Member June and Member Koovakada absent. Chair Wilsen offered the gavel to Member Kennedy. Member Kennedy advised that he would prefer Chair Wilsen to continue the meeting in her capacity as the current Chair. 3. December Makeup Meeting Date Selection Redevelopment Program Manager Vaca advised that the CRA Board Meeting, originally scheduled for December 3, 2024, must be rescheduled. She recommended, based on staff input, that the meeting be held on Tuesday, August 5, 2025, at 5:00 PM. This scheduling would allow for a budget discussion in advance of its adoption at the September 16, 2025, meeting. Chair Wilsen requested the Board check their calendars for availability on August 5, 2025. Member Kennedy inquired if this date falls on a Commission Meeting night. Chair Wilsen answered in the affirmative. Consensus of the CRA Board was to reschedule the December 3, 2024, meeting to August 5, 2025, at 5:00 PM. • MISCELLANEOUS 1. Final Increment Revenue and Payment Updates Redevelopment Program Manager Vaca presented a comparison of the estimated and actual tax increment revenue received in 2024. The actual revenue figures were based on calculations provided by the Orange County Office of Management & Budget on November 13, 2024. Due to the higher -than -expected tax increment revenue, a larger rebate was owed to Orange County. To reconcile the difference, a budget transfer was completed, and the Finance Department issued and mailed the rebate check to Orange County in January. All deposits and payments have been made; there are no outstanding payments. Chair Wilsen requested additional confirmation that no monies are currently owed to anyone to date. Redevelopment Program Manager Vaca provided confirmation. She further advised that a Resolution amending the CRA budget would be brought to the Board in June. 2. Annual Report Presentation Redevelopment Program Manager Vaca presented the 2024 Annual Report, titled "Staying on Target." She provided a brief overview of key statistics and highlights, including accomplishments, awards, and new businesses within the CRA. She also informed the Board 2(P0e Page 3 of 54 CRA Meeting March 4, 2025 that the Annual Report would be published to the CRA website by the end of March, and submitted to Orange County, in compliance with § 163.371, Florida Statutes. 3. Update on Redevelopment Plan Development Services Director/CRA Administrator Corless commended Redevelopment Program Manager Vaca for her efforts with the Annual Report and on her accomplishments. She provided an update on the Finding of Necessity regarding the downtown area and the existing Fifty West Community Redevelopment Area and highlighted the Redevelopment Plan Update. She then introduced Tom Kohler, GAl Community Solutions Group, to present the draft report to the Board. After providing a brief history of his efforts on the City's interlocal agreement with the county and the establishment of the CRA, Mr. Kohler complimented the CRA Board's and City Staff's diligence in keeping the Fifty West program on target. He also praised Redevelopment Program Manager Vaca for her outstanding performance when she took his course to obtain Florida Redevelopment Association certification. Mr. Kohler presented an overview of the draft plan update, including: • Redevelopment focus areas and pertinent goals and objectives • Tax Increment Financing (TIF) projections • Conceptual Master Plan, including the addition of West Oaks Mall • Capital Projects & Programming • Next steps • Proposed timeline Member Koovakada arrived at 5:20 PM. Vice -Chair Kennedy inquired about the affordable housing criteria. Mr. Kohler addressed his question. Discussion ensued regarding accessibility and affordability. Vice -Chair Kennedy inquired about the $1.8 million figure through 2031 for small business programs. Mr. Kohler addressed his question. Discussion ensued regarding the plan's flexibility. Member Johnson expressed concerns about reallocating CRA funding for West Oaks Mall. Mr. Kohler responded, prompting a discussion on the City's past efforts to engage the mall's ownership group and the property's ongoing deterioration. Member Firstner reiterated Mayor Johnson's concerns regarding West Oaks Mall. Mr. Kohler addressed his comments. Member Oliver asked about stormwater drainage budgeting in relation to the CRA. Mr. Kohler deferred to City Staff. Development Services Director/CRA Administrator Corless responded to Member Oliver's question. Mr. Kohler displayed a map to demonstrate where the proposed stormwater projects have been identified, the number of which exceeds the proposed increment. 31 P a g Page 4 of 54 CRA Meeting March 4, 2025 Vice -Chair Kennedy inquired about the identified stormwater projects being included within the 5-year or 10-year capital plan. Mr. Kohler addressed his question. Chair Wilsen thanked Mr. Kohler for his presentation and explanation of the report. Discussion ensued. 4. Project Updates Development Services Director/CRA Administrator Corless updated the Board with the following: - Wellness Park Restroom o A contractor was selected, and a permit has been issued o Clearing and mobilization started this week o The project is estimated to be completed at the end of May Chair Wilsen inquired about the destructibility of the restroom. Development Services Director/CRA Administrator Corless addressed her question. Development Services Director/CRA Administrator Corless presented to the Board the Diamond Award that the Healthy West Orange Wellness Park received from the East Central Florida Regional Planning Council under the Health and Equity category. Development Services Director/CRA Administrator Corless advised that the damage caused to Wellness Park due to Hurricane Milton is being addressed. • Bluford Avenue Streetscape o Staff are currently reviewing the 90% construction plans for the CRA portion [Old Winter Garden Road to Geneva Street], and permitting with St. Johns Water Management District has begun 0 60% construction documents for the City's Geneva Street to Delaware Street portion are expected soon o Staff hopes to put out for bid the CRA portion of the construction this summer Member Johnson inquired about the 90% construction [CRA portion of the project] being behind schedule. Development Services Director/CRA Administrator Corless addressed his question. -BOARD COMMENTS Chair Wilsen congratulated Member Kennedy and Member Koovakada on being elected as Chair and Vice -Chair, respectively. Page 5 of 54 CRA Meeting March 4, 2025 •ADJOURNMENT The meeting was adjourned at 5:43 PM Attest: Miranda Justice, Recording Clerk Chair 515 Page 6 of 54 ANNUAL FINANCIAL REPORT Page 7 of 54 FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR'S REPORT COMMUNITY REDEVELOPMENT AGENCY CITY OF OCOEE, FLORIDA SEPTEMBER 30, 2024 TABLE OF CONTENTS Independent Auditor's Report.............................................................................................................1-3 Management's Discussion and Analysis............................................................................................... 4-7 Financial Statements Statementof Net Position.................................................................................................................... 8 Statementof Activities......................................................................................................................... 9 Balance Sheet - Governmental Funds................................................................................................. 10 Statement of Revenues, Expenditures, and Changes in Fund Balances - Governmental Funds.............................................................................................. 11 Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual.................................................................................................... 12 Notes to Financial Statements.......................................................................................................13-19 Other Reports Independent Auditor's Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards...................................................................... 20-21 Independent Accountant's Report on Compliance with Section 163.387(6) and (7), Florida Statutes.................................................................................... 22 Independent Accountant's Report on Compliance with Section 218.415, Florida Statutes.................................................................................................... 23 ManagementLetter...................................................................................................................... 24-26 Page 8 of 54 PURVIs GRAY INDEPENDENT AUDITOR'S REPORT Honorable CRA Board Community Redevelopment Agency City of Ocoee, Florida Opinions We have audited the accompanying financial statements of the governmental activities and the major fund of the Ocoee Community Redevelopment Agency (the CRA), a component unit of the City of Ocoee, Florida (the City), as of and for the year ended September 30, 2024, and the related notes to the financial statements, which collectively comprise the CRA's financial statements as listed in the table of contents. In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the CRA as of September 30, 2024, and the respective changes in financial position and the respective budgetary comparison information for the year then ended in accordance with accounting principles generally accepted in the United States of America. Basis for Opinions We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the CRA, and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Responsibilities of Management for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America; and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the CRA's ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter. Auditor's Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance CERTIFIED PUBLIC ACCOUNTANTS Gainesville Ocala i "Eallaliassee I Sarasota I Orlando Tampa urvis ra r.c rn Members tiers of American and Florida Institutes oi`Certified Public Accountants Page 9 of 54 Honorable CRA Board Community Redevelopment Agency City of Ocoee, Florida INDEPENDENT AUDITOR'S REPORT and, therefore, is not a guarantee that an audit conducted in accordance with generally accepted auditing standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. In performing an audit in accordance with generally accepted auditing standards and , we: ■ Exercise professional judgment and maintain professional skepticism throughout the audit. ■ Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. ■ Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the CRA's internal control. Accordingly, no such opinion is expressed. ■ Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements. ■ Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the CRA's ability to continue as a going concern for a reasonable period of time. We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control -related matters that we identified during the audit. Required Supplementary Information Accounting principles generally accepted in the United States of America require that the management's discussion and analysis, as listed in the table of contents, be presented to supplement the basic financial statements. Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the required supplementary information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. 2 Page 10 of 54 Honorable CRABoard Community Redevelopment Agency City ofOcoee, Florida INDEPENDENT AUDITOR'S REPORT Other Reporting Required b*Government Auditing Standards |naccordance with Government Auditing Standards, vvehave also issued areport dated March 10,2025, on our consideration of the CRA's internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts and grant agreements, and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the CR/ys internal control over financial reporting or on compliance. That report is an integral part ofanaudit performed inaccordance with Government Auditing Standards inconsidering the CR/Ysinternal control over financial reporting and compliance. March Dl20Z Ocala, Florida Page 11 of 54 COMMUNITY REDEVELOPMENT AGENCY CITY OF OCOEE, FLORIDA MANAGEMENT'S DISCUSSION AND ANALYSIS SEPTEMBER 30, 2024 As management of the City of Ocoee, Florida Community Redevelopment Agency we offer readers of the City of Ocoee Community Redevelopment Agency's financial statements this narrative overview and analysis of the financial activities of the City of Ocoee Community Redevelopment Agency for the fiscal year ended September 30, 2024. Financial Highlights ■ The assets of the City of Ocoee Community Redevelopment Agency (CRA) exceeded its liabilities at the close of the current fiscal year by $7,787,528 (net position). Of this amount, $6,905,482 represents restricted net position, which is to be used to meet the CRA's ongoing obligations to the fund. ■ The CRA's total net position decreased by $942,840 or 11%. ■ As of the close of the current fiscal year, the CRA's governmental funds reported an ending fund balance of $6,905,482. The total amount, $6,905,482, is restricted for the purpose of community redevelopment. Overview of the Financial Statements The financial statements focus on the CRA as a whole (government -wide) and on the individual fund. Both perspectives (government -wide and fund) allow the user to address relevant questions, broaden a basis for comparison (year-to-year or government -to -government) and enhance the CRA's accountability. This discussion and analysis is intended to serve as an introduction to the CRA's basic financial statements. The CRA's basic financial statements comprise three components: 1) government -wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements themselves. Government -Wide Financial Statements The government -wide financial statements are designed to provide readers with a broad overview of the CRA's finances, in a manner similar to a private -sector business. The statement of net position presents information on all of the CRA's assets, liabilities and deferred inflows/outflows of resources, with the difference reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the CRA is improving or deteriorating. The statement of activities presents information showing how the government's net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods (e.g., uncollected taxes and earned but unused vacation leave). The government -wide financial statements distinguish functions of the CRA that are principally supported by taxes and intergovernmental revenues (governmental activities). The government -wide financial statements include only the CRA itself (known as the primary government). 0 Page 12 of 54 COMMUNITY REDEVELOPMENT AGENCY CITY OF OCOEE, FLORIDA MANAGEMENT'S DISCUSSION AND ANALYSIS SEPTEMBER 30, 2024 The government -wide financial statements can be found on pages 8-9 of this report. Fund Financial Statements A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The CRA, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance -related legal requirements. The general fund of the CRA is categorized as a governmental fund. Governmental Funds Governmental funds are used to account for essentially the same functions reported as governmental activities in the government -wide financial statements. However, unlike the government -wide financial statements, governmental fund financial statements focus on near -term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a government's near -term financing requirements. Because the focus of governmental funds is narrower than that of the government -wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government -wide financial statements. By doing so, readers may better understand the long-term impact of the government's near -term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities. The CRA adopts an annual appropriated budget for the general fund. The budgetary comparison schedule has been provided for the General Fund to demonstrate compliance with the budget on page 12. The basic governmental fund financial statements can be found on pages 10-11 of this report. Notes to the Financial Statements The notes provide additional information that is essential to a full understanding of the data provided in the government -wide and fund financial statements. The notes to the financial statements can be found on pages 13-19 of this report. Government -Wide Financial Analysis Statement of Net Position As noted earlier, net position may serve over time as a useful indicator of a government's financial position. In the case of the CRA, assets and deferred outflows of resources exceeded liabilities and deferred inflows of resources by $7,787,528 at the close of the most recent fiscal year. The following table reflects the condensed statement of net position for the current and prior year. For more details, see the statement of net position on page 8. 5 Page 13 of 54 COMMUNITY REDEVELOPMENT AGENCY CITY OF OCOEE, FLORIDA MANAGEMENT'S DISCUSSION AND ANALYSIS SEPTEMBER 30, 2024 Statement of Net Position as of September 30, Assets Current and Other Assets Capital Assets Total Assets Liabilities Current Liabilities Total Liabilities Net Position Net Investment in Capital Assets Restricted Total Net Position Governmental Activities 2024 2023 $ 6,955,978 $ 5,373,428 882,046 3,515,619 7,838,024 8,889,047 50,496 158,679 50,496 158,679 882,046 3,502,059 6,905,482 5,228,309 $ 7,787,528 $ 8,730,368 The CRA's net position of $882,046 is reflected in investment in capital assets, less any outstanding related debt used to acquire those assets. The CRA uses these capital assets to provide services to citizens; consequently, these assets are not available for future spending. Although the CRA's investment in capital assets is reported net of debt, it should be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities. The CRA's net position decreased by $942,840 during the current fiscal year. The following table reflects the condensed Statement of Activities for the current year. For more detail seethe Statement of Activities on page 9. Revenues Program Revenues: Capital Grants and Contributions General Revenues: Taxes Miscellaneous Total Revenues Expenses Physical Environment Total Expenditures Increase (Decrease) in Net Position Before Transfers Transfers Transfer to Primary Government Total Transfer Increase (Decrease) in Net Position Net Position, Beginning Net Position, Ending Governmental Activities 2024 2023 $ - $ 345,616 2,663,144 2,313,636 124,375 16,738 2,787,519 2,675,990 713,289 551,700 713,289 551,700 2,074,230 2,124,290 (3,017,070) (1,288,398) (3,017,070) (1,288,398) (942,840) 835,892 8,730,368 7,894,476 $ 7,787,528 $ 8,730,368 it Page 14 of 54 COMMUNITY REDEVELOPMENT AGENCY CITY OF OCOEE, FLORIDA MANAGEMENT'S DISCUSSION AND ANALYSIS SEPTEMBER 30, 2024 Governmental Activities Governmental activities decreased the CRA's net position by $942,840 due to the completion of a CRA project. Upon completion, the project, valued at $2,945,435, was conveyed to the City for ownership and maintenance. Financial Analysis of the Government's Funds As noted earlier, the CRA uses fund accounting to ensure and demonstrate compliance with finance - related legal requirements. Governmental Funds The focus of the CRA's governmental funds is to provide information on near -term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the CRA's financing requirements. In particular, unassigned fund balance may serve as a useful measure of a government's net resources available for spending at the end of the fiscal year. As of September 30, 2024, the CRA's governmental fund reported an ending fund balance of $6,905,482, an increase of $1,690,733 in comparison with the prior year. The fund balance is restricted for community redevelopment. General Fund Budgetary Highlights During the year, actual revenues were $625,624 less than budgeted revenues and actual expenditures were $7,285,630 less than budgeted expenditures. Revenues were less than budgeted due to an a grant that was budgeted for but not received. Expenses were lower than budgeted primarily due to lower capital activity than anticipated. Capital Assets At September 30, 2024, the CRA reported $882,046 in capital assets. At year-end, the entire balance was considered construction in progress. Next Year's Budget and Rates During the next fiscal year, the CRA is expecting to incur enough revenues to cover operating expenditures. Requests for Information This financial report is designed to provide a general overview of the City of Ocoee Community Redevelopment Agency's finances for all those with an interest in the government's finances. Questions concerning any of the information provided in this report or requests for additional financial information should be addressed to the Finance Director, 1 N Bluford Ave, Ocoee, Florida 34761. 0 Page 15 of 54 BASIC FINANCIAL STATEMENTS Page 16 of 54 COMMUNITY REDEVELOPMENT AGENCY CITY OF OCOEE, FLORIDA STATEMENT OF NET POSITION SEPTEMBER 30, 2024 Governmental Activities Assets Cash and Cash Equivalents $ 6,955,978 Capital Assets: Capital Assets (Not Being Depreciated) 882,046 Total Assets 7,838,024 Liabilities Accounts Payable 27,700 Accrued Liabilities 18,358 Due to Primary Government 11 Due to Other Governments 4,427 Total Liabilities 50,496 Net Position Net Investment in Capital Assets 882,046 Restricted 6,905,482 Total Net Position $ 7,787,528 The accompanying notes to financial statements are an integral part of these statements. 8 Page 17 of 54 COMMUNITY REDEVELOPMENT AGENCY CITY OF OCOEE, FLORIDA STATEMENT OF ACTIVITIES YEAR ENDED SEPTEMBER 30, 2024 Functions/Programs Expenses Primary Government Governmental Activities: Physical Environment Total Governmental Activities Program Revenue Capital Grants and Contributions Net (Expense) Revenue and Changes in Net Position Governmental Activities $ 713,289 $ - $ (713,289) $ 713,289 $ - (713,289) General Revenues: Taxes 2,663,144 Miscellaneous 124,375 Transfer to Primary Government (3,017,070) Total General Revenues and Transfers (229,551) Change in Net Position Net Position, Beginning Net Position, Ending (942,840) 8,730,368 $ 7,787,528 The accompanying notes to financial statements are an integral part of these statements. 9 Page 18 of 54 COMMUNITY REDEVELOPMENT AGENCY CITY OF OCOEE, FLORIDA BALANCE SHEET - GOVERNMENTAL FUNDS SEPTEMBER 30, 2024 General Fund Assets Cash and Cash Equivalents $ 6,955,978 Total Assets 6,955,978 Liabilities Accounts Payable 27,700 Accrued Liabilities 18,358 Due to Primary Government 11 Due to Other Governments 4,427 Total Liabilities 50,496 Fund Balance Restricted for Community Development 6,905,482 Total Fund Balances 6,905,482 Total Liabilities and Fund Balances $ 6,955,978 Amounts Reported for Governmental Activities in the Statement of Net Position are Different Because: Total Fund Balance Governmental Funds $ 6,905,482 Capital assets used in governmental activities are not current financial resources and, therefore, are not reported in the funds. 882,046 Net Position of Governmental Activities $ 7,787,528 The accompanying notes to financial statements are an integral part of these statements. 10 Page 19 of 54 COMMUNITY REDEVELOPMENT AGENCY CITY OF OCOEE, FLORIDA STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS YEAR ENDED SEPTEMBER 30, 2024 Revenues Taxes Investment Income Total Revenues Expenditures Current: Physical Environment Capital Outlay: Physical Environment Total Expenditures Excess (Deficiency) of Revenues Over (Under) Expenditures Net Change in Fund Balance Fund Balance, Beginning Fund Balance, Ending Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities Net Change in Fund Balances - Total Governmental Funds Governmental funds report outlays for capital assets as expenditures. However, in the statement of activities, the cost of those assets is recorded as capital assets. This is the amount by which transfers of completed assets exceeded capital outlays. Change in Net Position of Governmental Activities General Fund $ 2,663,144 124,375 2,787,519 713,289 383,497 1,096,786 1,690,733 1,690,733 5,214,749 $ 6,905,482 $ 1,690,733 (2,633,573) $ (942,840) The accompanying notes to financial statements are an integral part of these statements. 11 Page 20 of 54 COMMUNITY REDEVELOPMENT AGENCY CITY OF OCOEE, FLORIDA STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET TO ACTUAL YEAR ENDED SEPTEMBER 30, 2024 Revenues Property Tax Investment Income Miscellaneous Total Revenues Expenditures Physical Environment Total Expenditures Excess (Deficiency) of Revenues Over (Under) Expenditures Net Change in Fund Balance Budgeted Amounts Original Final $ 2,686,802 $ 2,663,143 750,000 750,000 Actual Amounts Variance with Final Budget - Positive (Negative) 2,663,144 $ 1 124,375 124,375 - (750,000) 3,436,802 3,413,143 2,787,519 (625,624) 8,892,049 8,627,890 1,096,786 7,531,104 8,892,049 8,627,890 1,096,786 7,531,104 (5,455,247) (5,214,747) 1,690,733 6,905,480 (5,455,247) (5,214,747) 1,690,733 6,905,480 Fund Balance, Beginning 5,455,247 5,214,747 5,214,747 - Fund Balance, Ending $ - $ - $ 6,905,480 $ 6,905,480 The accompanying notes to financial statements are an integral part of these statements. 12 Page 21 of 54 NOTES TO FINANCIAL STATEMENTS Page 22 of 54 NOTES TO FINANCIAL STATEMENTS COMMUNITY REDEVELOPMENT AGENCY CITY OF OCOEE, FLORIDA Note 1- Summary of Significant Accounting Policies Reporting Entity The City of Ocoee (the City) created the Community Redevelopment Agency (the CRA) in May of 2006. This is a dependent taxing district established in accordance with Chapter 163, Part 111, Florida Statutes. Notification to the affected taxing agency was done in compliance with Chapter 163.346, Part III, Florida Statutes. The incremental annual increase in tax over the base years will be used to fund projects designed to enhance and improve the described area. The purpose of the CRA is to utilize appropriate private and public resources to eliminate and prevent the development or spread of slum and blighted areas in designated areas within the City. Areas within the CRA are to be redeveloped as an economically sustainable and attractive mixed -use area offering a high -quality local destination in a manner that promotes a positive image for the City. The CRA's financial statements are prepared in accordance with generally accepted accounting principles (GAAP). The Governmental Accounting Standards Board (GASB) is responsible for establishing GAAP for state and local governments through its pronouncements (Statements and Interpretations). The more significant accounting policies established by GAAP and used by the CRA are discussed below. The financial statements have also been prepared in accordance with GASB Statement No. 34, Basic Financial Statements and Management Discussion and Analysis for State and Local Governments. In evaluating how to define the CRA, for financial reporting purposes, the CRA has considered all potential component units. The definition of the reporting entity is based primarily on the notion of financial accountability. A primary government is financially accountable for the organizations that make up its legal entity. It is also financially accountable for legally separate organizations if its officials appoint a voting majority of an organization's governing body, and either it is able to impose its will on that organization or there is a potential for the organization to provide specific financial benefits to, or to impose specific financial burdens on, the primary government. A primary government may also be financially accountable for governmental organizations that are fiscally dependent on it. A primary government has the ability to impose its will on an organization if it can significantly influence the programs, projects, or activities of, or the level of services performed or provided by, the organization. A financial benefit or burden relationship exists if the primary government: (a) is entitled to the organization's resources; (b) is legally obligated or has otherwise assumed the obligation to finance the deficits of, or provide financial support to, the organization; or (c) is obligated in some manner for the debt of the organization. Additionally, the primary government has operational responsibility for the component unit. In applying the above criteria, the CRA is a component unit of the City. Government -Wide and Fund Financial Statements The government -wide financial statements (i.e., the statement of net position and the statement of activities) report information on all of the non -fiduciary activities of the CRA. For the most part, the effect of interfund activity has been removed from these statements; however, interfund services provided and used are not eliminated. Governmental activities are normally supported by taxes and intergovernmental revenues. 13 Page 23 of 54 NOTES TO FINANCIAL STATEMENTS COMMUNITY REDEVELOPMENT AGENCY CITY OF OCOEE, FLORIDA The statement of activities demonstrates the degree to which the direct expenses of a given function or segment is offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include: 1) charges to customers or applicants who purchase, use, or directly benefit from goods, services, or privileges provided by a given function or segment; and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Taxes and other items not properly included among program revenues are reported instead as general revenues. Measurement Focus, Basis of Accounting, and Financial Statement Presentation The government -wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Property taxes are recognized as revenues in the year for which they are levied. Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider have been met. Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the CRA considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures related to compensated absences and claims and judgments, are recorded only when payment is due. Property taxes, franchise taxes, licenses, and interest associated with the current fiscal period are all considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. All other revenue items are considered to be measurable and available only when cash is received by the CRA. The CRA reports the following fund: ■ The General Fund was established as a dependent taxing district. The incremental annual increase in tax over the base years will be used to fund projects designed to enhance and improve the described area. Amounts reported as program revenues include: 1) charges to customers or applicants for goods, services, or privileges provided, if any; 2) operating grants and contributions; and 3) capital grants and contributions, including special assessments. Internally dedicated resources are reported as general revenues rather than as program revenues. Likewise, general revenues include all taxes. When both restricted and unrestricted resources are available for use, it is the CRA's policy to use restricted resources first, then unrestricted resources as they are needed. Assets, Liabilities, Deferred Outflows/Inflows, and Net Position/Fund Balance Deposits and Investments The CRA's cash and cash equivalents are considered to be cash on hand, demand deposits, and short-term investments with original maturities of three months or less from the date of acquisition. 14 Page 24 of 54 NOTES TO FINANCIAL STATEMENTS COMMUNITY REDEVELOPMENT AGENCY CITY OF OCOEE, FLORIDA Receivables and Payables All receivables are shown net of an allowance for uncollectibles. The CRA's primary source of revenue is tax -increment funds. This revenue is computed by applying the respective operating tax rates for the City and Orange County (the County), multiplied by increased value of property located within the boundaries of the redevelopment areas of the CRA in excess of the base property value, minus 5%. The City and the County are required to fund this amount annually without regard to tax collections or other obligations. Capital Assets Capital assets, which include property, plant, equipment and infrastructure assets (e.g., roads, bridges, sidewalks, and similar items), are defined by the CRA's capitalization policy as assets with an initial, individual cost of $5,000 or more and an estimated useful life in excess of one year. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at acquisition value at the date of donation. Any assets purchased with CRA funds are conveyed to the City for ownership and maintenance upon completion of the project. At year-end, all capital assets are considered construction in progress. Long -Term Obligations In the government -wide financial statements, long-term debt and other long-term obligations are reported as liabilities in the applicable governmental activities statement of net position. Bond premiums and discounts are deferred and amortized over the life of the bonds using the effective interest method. Bonds payable are reported net of the applicable bond premium or discount. In the fund financial statements, governmental fund types recognize bond premiums and discounts during the current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts on debt issuances are reported as other financing uses. Deferred Outflows/Inflows of Resources In addition to assets, the statement of financial position will sometimes report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net position that applies to a future period(s), and so will not be recognized as an outflow of resources (expense/expenditure) until then. The CRA does not have any item that qualifies for reporting in this category for the year ended September 30, 2024. In addition to liabilities, the statement of financial position will sometimes report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net position that applies to a future period(s), and so will not be recognized as an inflow of resources (revenue) until that time. The CRA does not have any item that qualifies for reporting in this category for the year ended September 30, 2024. 15 Page 25 of 54 NOTES TO FINANCIAL STATEMENTS COMMUNITY REDEVELOPMENT AGENCY CITY OF OCOEE, FLORIDA Net Position Flow Assumptions Sometimes the CRA will fund outlays for a particular purpose from both restricted and unrestricted resources. In order to calculate the amounts to report as restricted net position and unrestricted net position in the government -wide financial statements, a flow assumption must be made about the order in which the resources are considered to be applied. It is the CRA's policy to consider restricted net position to have been depleted before unrestricted net position is applied. Fund Balance Flow Assumptions Sometimes the CRA will fund outlays for a particular purpose from both restricted and unrestricted resources (the total of committed, assigned, and unassigned fund balance). In order to calculate the amounts to report as restricted, committed, assigned, and unassigned fund balance in the governmental fund financial statements, a flow assumption must be made about the order in which the resources are considered to be applied. It is the CRA's policy to consider restricted fund balance to have been depleted first before using any of the components of unrestricted fund balance. Further, when the components of unrestricted fund balance can be used for the same purpose, committed fund balance is depleted first, followed by assigned fund balance. Unassigned fund balance is applied last. Fund Balance Policies Fund balance of governmental funds is reported in various categories based on the nature of any limitations requiring the use of resources for specific purposes. The CRA itself can establish limitations on the use of resources through either a commitment (committed fund balance) or an assignment (assigned fund balance). The committed fund balance classification includes amounts that can be used only for the specific purposes determined by a formal action of the CRA's highest level of decision -making authority. The CRA Board of Directors (the CRA Board) is the highest level of decision -making authority for the CRA that can, by adoption of a resolution prior to the end of the fiscal year, commit fund balance. Once adopted, the limitation imposed by the resolution remains in place until a similar action is taken (the adoption of another resolution) to remove or revise the limitation. Amounts in the assigned fund balance classification are intended to be used by the CRA for specific purposes but do not meet the criteria to be classified as committed. The CRA Board has maintained authority to assign fund balance. The CRA Board may also assign fund balance as it does when appropriating fund balance to cover a gap between estimated revenue and appropriations in the subsequent year's appropriated budget. Unlike commitments, assignments generally only exist temporarily. In other words, an additional action does not normally have to be taken for the removal of an assignment. Conversely, as discussed above, an additional action is essential to either remove or revise a commitment. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenditures during the reporting period. Actual results could differ from those estimates. 16 Page 26 of 54 NOTES TO FINANCIAL STATEMENTS COMMUNITY REDEVELOPMENT AGENCY CITY OF OCOEE, FLORIDA New Accounting Standards In fiscal year 2024, the CRA has not implemented any new accounting standards with a material effect on the CRA's financial statements. Note 2 - Stewardship, Compliance, and Accountability Budgetary Information Annual budgets are adopted on a basis consistent with GAAP for the CRA. The CRA follows these procedures set forth below in establishing the budgetary data reflected in the financial statements. 1) Prior to the CRA's September budget meeting, the Executive Director/City Manager submits to the CRA a proposed budget for the fiscal year commencing the following October 1st. The budget includes proposed expenditures, including operating and capital improvement projects, and the means of financing them. 2) A noticed CRA budget meeting is held to discuss and approve the CRA's proposed budget. This meeting is held prior to the City Commission's second public hearing to adopt the City's budget. 3) The CRA adopts the budget by resolution. The resolution includes language on how to handle the increase or decrease in tax increment revenues and cash brought forward. The CRA's adopted budget is sent to the City Commission and is incorporated into the City's overall budget. 4) On or before September 30th of each year, the Commission adopts the final budget by ordinance, which includes the CRA's budget, and establishes the ad valorem tax millage for the City. 5) The CRA cannot legally exceed the amended budget, however, the Executive Director/City Manager is authorized to administratively make any adjustments to the CRA's budget. The legal level of budgetary control is at the department level. 6) The CRA must transmit the adopted budget and any amendments to the County within 10 days of adoption by the CRA Board. Note 3 - Deposits and Investments Deposits All bank deposits were covered by Federal Depository Insurance or by collateral held in banks that are members of the State of Florida's Collateral Pool as specified under Florida Law. Florida Statutes provide for collateral pooling by banks and savings and loans. This limits local government deposits to "authorized depositories". Investments The CRA categorizes its fair value measurements within the fair value hierarchy established by GAAP. The fair value is the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. The hierarchy is based on the valuation inputs used to measure the fairvalue of the asset. The CRA uses a market approach in measuring fair value that uses prices and other relevant information generated by market transactions involving identical or similar assets, liabilities, or groups of assets and liabilities. 17 Page 27 of 54 NOTES TO FINANCIAL STATEMENTS COMMUNITY REDEVELOPMENT AGENCY CITY OF OCOEE, FLORIDA Assets or liabilities are classified into one of three levels. Level 1 is the most reliable and is based on quoted price for identical assets, or liabilities, in an active market. Level 2 uses significant other observable inputs when obtaining quoted prices for identical or similar assets, or liabilities, in markets that are not active. Level 3 is the least reliable and uses significant unobservable inputs that uses the best information available under the circumstances, which includes the CRA's own data in measuring unobservable inputs. The CRA had no investments as defined by GASB Statement No. 72 as of September 30, 2024. The CRA's investment policies are governed by Florida Statutes and City ordinances. City ordinance allows investments in any financial institution that is a qualified public depository of the State of Florida as identified by the State Treasurer, in accordance with Chapter 280 of the Florida Statutes. Authorized investments are: 1. State Board of Administration Local Government Investment Pool (SBA LGIP) 2. Registered Investment Companies (Money Market Mutual Funds) 3. Money Market Funds and Certificates of Deposit in State -Certified Qualified Public Depositories 4. U.S. Government Agency Securities and U.S. Treasury Bills, Notes and Bonds 5. Repurchase Agreements Credit Risk The City's investment policy limits credit risk by restricting authorized investments to those described above. The policy requires that investments in U.S. Government agency securities be guaranteed by the full faith of the U.S. Government. Also, term repurchase agreements must be collateralized by U.S. Treasury securities and overnight (sweep) repurchase agreements must be collateralized by the full faith or general faith and credit obligations of the U.S. Government or U.S. Government agency securities. Securities of registered investment companies must be limited to U.S. Government obligations and to repurchase agreements fully collateralized by such U.S. Government obligations. Custodial Credit Risk In the case of deposits, this is the risk that in the event of a bank failure, the City's deposits may not be returned to it. The City's investment policy requires that bank deposits be secured as provided by Chapter 280, Florida Statutes. This law requires local governments to deposit funds only in financial institutions designated as qualified public depositories by the Chief Financial Officer of the State of Florida, and creates the Public Deposits Trust Fund, a multiple financial institution pool with the ability to assess its member financial institutions for collateral shortfalls if a default or insolvency has occurred. At September 30, 2024, all of the CRA's bank deposits were in qualified public depositories. For an investment, this is the risk that, in the event of the failure of the counterparty, the CRA will not be able to recover the value of its investments of collateral securities that are in the possession of an outside party. Concentration of Credit Risk The policy has no limitations on portfolio composition. Interest Rate Risk The policy limits investment in U.S. Government agency securities, treasury bills, notes, and bonds to a maximum maturity of five years. The maximum length to maturity for certificates of deposit is three years. IV Page 28 of 54 NOTES TO FINANCIAL STATEMENTS COMMUNITY REDEVELOPMENT AGENCY CITY OF OCOEE, FLORIDA Note 4 - Capital Assets Capital asset activity for the year ended September 30, 2024, was as follows: Beginning Ending Balance Increases Decreases Balance Governmental Activities: Capital Assets, Not Being Depreciated: Construction in Progress $ 3,515,619 $ 311,863 $ 2,945,436 $ 882,046 Total Capital Assets, Not Being Depreciated $ 3,515,619 $ 311. 663 $ 2 945 436 $ 882,046 Note 5 - Commitments and Contingencies Risk Management The CRA is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; and natural disasters for which the CRA is covered under the City's commercial insurance. There have been no significant reductions in insurance coverage from the prior year and there have been no settlements during the past three years. Note 6 - Related -Party Transactions The CRA is a component unit of the City. For the year ended September 30, 2024, the CRA's tax increment revenues include $1,408,186 received from the City. In addition, the CRA reimbursed the City for services performed on behalf of the CRA, such as payroll and payroll benefits paid during the year. Payment to the City for these services during the year ended September 30, 2024, was approximately $355,843. The CRA transferred completed assets totaling $3,017,070 to the City for reporting and ongoing maintenance. At year-end, the CRA owed the City $11, for expenditures paid by the City and not yet remitted from the CRA. Note 7 - Source of Deposits and Purpose of Withdrawals Pursuant to Florida Statute 163.387, listed below is a summary of the sources and amounts of deposits to, and the purpose and amounts of withdrawals from, the CRA funds for the fiscal year ended September 30, 2024: Source of Deposit Tax Increment $ 2,663,144 Investment Income 124,375 Total Sources of Deposit $ 2,787,519 Purpose of Withdrawal Salaries and Benefits $ 355,843 Professional Services 295,594 Miscellaneous 61,852 Capital Outlay 383,497 Total Purpose of Withdrawals $ 1,096,786 19 Page 29 of 54 Page 30 of 54 PURVis GRAY INDEPENDENT AUDITOR'S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENTAUDITING STANDARDS Honorable CRA Board Community Redevelopment Agency City of Ocoee, Florida We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States, the financial statements of the City of Ocoee, Florida, Community Redevelopment Agency (the CRA) as of and for the year ended September 30, 2024, and the related notes to the financial statements, which collectively comprise the CRA's financial statements and have issued our report thereon dated March 10, 2025. Report on Internal Control Over Financial Reporting In planning and performing our audit of the financial statements, we considered the CRA's internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the CRA's internal control. Accordingly, we do not express an opinion on the effectiveness of the CRA's internal control. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. Amaterial weakness is a deficiency, or a combination of deficiencies, in internal control such that there is a reasonable possibility that a material misstatement of the entity's financial statements will not be prevented, or detected and corrected, on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance. Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses or significant deficiencies may exist that were not identified. Report on Compliance and Other Matters As part of obtaining reasonable assurance about whether the CRA's financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts and grant agreements, non-compliance with which could have a direct and material effect on CERTIFIED PUBLIC ACCOUNTANTS Gainesville I Ocala I 'raflahassee I Sarasota I Orlando I T�rnpa Members ol'American and Florida ida Institutes of Cerfified Public Accountants 20 Page 31 of 54 Honorable CRA Board Community Redevelopment Agency City of Ocoee, Florida INDEPENDENT AUDITOR'S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENTAUDITING STANDARDS the financial statements. However, providing an opinion on compliance with those provisions was not an objective of our audit and, accordingly, we do not express such an opinion. The results of our tests disclosed no instances of non-compliance or other matters that are required to be reported under Government Auditing Standards. Purpose of this Report The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the CRA's internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the CRA's internal control and compliance. Accordingly, this communication is not suitable for any other purpose. Purvi's Gray March 10, 2025 Ocala, Florida 21 Page 32 of 54 PURVis GRAY INDEPENDENT ACCOUNTANT'S REPORT ON COMPLIANCE WITH SECTION 163.387(6) AND (7), FLORIDA STATUTES Honorable CRA Board Ocoee Community Redevelopment Agency Ocoee, Florida We have examined the Ocoee Community Redevelopment Agency's (the CRA) compliance with the requirements of Section 163.387(6) and (7), Florida Statutes, as of and for the year ended September 30, 2024, as required by Section 10.556(10)(f), Rules of the Auditor General. Management is responsible for the CRA's compliance with those requirements. Our responsibility is to express an opinion on the CRA's compliance based on our examination. Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. Those standards require that we plan and perform the examination to obtain reasonable assurance about whether the CRA complied, in all material respects, with the requirements referenced above. An examination involves performing procedures to obtain evidence about whether the CRA complied with the specific requirements. The nature, timing, and extent of procedures selected depend on our judgement, including an assessment of the risk of material non- compliance, whether due to fraud or error. We believe that the evidence we obtained is sufficient and appropriate to provide a reasonable basis for our opinion. Our examination does not provide a legal determination on the CRA's compliance with specific requirements. We are required to be independent and to meet our other ethical responsibilities in accordance with relevant ethical requirements relating to the engagement. In our opinion, the CRA complied, in all material respects, with the aforementioned requirements for the year ended September 30, 2024. This report is intended solely for the information and use of the Legislative Auditing Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, the CRA, its management, and the Board of Directors of the City of Ocoee, Florida, and is not intended to be, and should not be, used by anyone other than these specified parties. Purvis Gray March 10, 2025 Ocala, Florida CERTIFIED PUBLIC ACCOURITM)TS Gainesville I Ocala I Wahassee I Sarasota I Orlando I T'ampa purvisgray.com Members of Am riican and Florida Institutes of Certified Public Accountants 22 Page 33 of 54 PURVis GRAY INDEPENDENT ACCOUNTANT'S REPORT ON COMPLIANCE WITH SECTION 218.415, FLORIDA STATUTES Honorable CRA Board Community Redevelopment Agency City of Ocoee, Florida We have examined the Ocoee Community Redevelopment Agency's (the CRA) compliance with the requirements of Section 218.415, Florida Statutes, as of and for the year ended September 30, 2024, as required by Section 10.556(10)(a), Rules of the Auditor General. Management is responsible for the CRA's compliance with those requirements. Our responsibility is to express an opinion on the CRA's compliance based on our examination. Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. Those standards require that we plan and perform the examination to obtain reasonable assurance about whether the CRA complied, in all material respects, with the requirements referenced above. An examination involves performing procedures to obtain evidence about whether the CRA complied with the specific requirements. The nature, timing, and extent of procedures selected depend on our judgement, including an assessment of the risk of material non- compliance, whether due to fraud or error. We believe that the evidence we obtained is sufficient and appropriate to provide a reasonable basis for our opinion. Our examination does not provide a legal determination on the CRA's compliance with specific requirements. We are required to be independent and meet our other ethical responsibilities in accordance with relevant ethical requirements relating to the engagement. In our opinion, the CRA complied, in all material respects, with the aforementioned requirements for the year ended September 30, 2024. This report is intended solely for the information and use of the Legislative Auditing Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, the CRA, its management, and the Board of Directors of the City of Ocoee, Florida, and is not intended to be, and should not be, used by anyone other than these specified parties. Purvis Oray March 10, 2025 Ocala, Florida CERTIFIED PUBLIC ACCOUNTANTS Gainesville Ocala I 'ra a a se e � Sarasota I Orlando 'rampa purvisgray.corn Members of American and Florida Institutes of CertifiePuNic Accountants 23 Page 34 of 54 PURVisGRAY MANAGEMENT LETTER Honorable CRABoard Community Redevelopment Agency City ofOcoee, Florida Report mnthe Financial Statements We have audited the financial statements of the City of Ocoee, Florida (the City) Community Redevelopment Agency (the CRA) as of and for the fiscal year ended September 30, 2024, and have issued our report thereon dated March 1U,2025. Auditor's Responsibility We conducted our audit in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States, and Chapter 10.550, Rules of the Auditor General. Other Reporting Requirements We have issued our Independent Auditor's Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards; and Independent Accountant's Report on examination conducted in accordance with American Institute of Certified Public Accountants Professional Standards, AT-C Section 315, regarding compliance requirements in accordance with Chapter 10.550, Rules of the Auditor General. Disclosures in those reports, which are dated March 10, 2025, should be considered in conjunction with this management letter. Prior Audit Findings Section 10.554(l)(i)l., Rules of the Auditor General, requires that we determine whether or not corrective actions have been taken to address findings and recommendations made in the preceding financial audit report. There were no findings in the previous report. Official Title and Legal Authority Section 10.554(1)(i)4., Rules of the Auditor General, requires that the name or official title and legal authority for the primary government be disclosed in the management letter, unless disclosed in the notes to the financial statements (see Note 1 of the LR/Ysfinancia| statements as of and for the year ended September 3O,2O24,for this infornnation). Financial Condition and Management Sections 10.554(1)(i)5.a. and 10.556(7), Rules ufthe Auditor General, require us to apply appropriate procedures and communicate the results of our determination as to whether or not the CRA has met one or more of the conditions described in Section 218.503(1), Florida Statutes, and to identify the specific condition(s) met. In connection with our audit, we determined that the CRA did not meet any of the conditions described inSection 21O.S03(1), Florida Statutes. CERTIFIED PUBLIC ACCOUNTANTS Gainesville | Ocala \ I'allahamaee | Sarasota | Oflando | 'Fanxpa purvisgray.coO0 Members of American and Florida Institutes of Certified Public Accountants 24 Page 35ofS4 Honorable CRA Board Community Redevelopment Agency City of Ocoee, Florida MANAGEMENT LETTER Pursuant to Sections 10.554(1)(i)5.b. and 10.556(8), Rules of the Auditor General, we applied financial condition assessment procedures. It is management's responsibility to monitor the CRA's financial condition, and our financial condition assessment was based in part on representations made by management and the review of financial information provided by same. Section 10.554(1)(i)2., Rules of the Auditor General, requires that we address in the management letter any recommendations to improve financial management. In connection with our audit, we did not have any such recommendations. Property Assessed Clean Energy (PACE) Programs As required by Section 10.554(1)(i)6.a., Rules of the Auditor General, the CRA confirms that a PACE program, authorized pursuant to Section 163.081 or Section 163.082, Florida Statutes, operated within the CRA's geographical boundaries during the fiscal year under audit. The City offers the C-PACE Commercial Property Assessed Clean Energy Program and has agreements in place with The Florida Green Finance Authority and The Florida Resiliency Energy District (FRED). However, there are no active agreements within the City at this time. As required by Sections 10.554(1)(i)6.b. and 10.554(1)(i)6.c., Rules of the Auditor General, the following are the program administrators and their contact information: ■ City Program Administrator: • Ginger Corless — VCorless@ocoee.org ■ The Florida Green Finance Authority: • Mitty Barnard — Mitty@davislawteam.com ■ FRED: • Ryan Bartkus — Rbartkus@fdcbonds.com Special District Component Units Section 10.554(1)(i)5.d., Rules of the Auditor General, requires, if appropriate, that we communicate the failure of a special district that is a component unit of a county, municipality, or special district, to provide the financial information necessary for proper reporting of the component unit, within the audited financial statements of the county, municipality, or special district in accordance with Section 218.39(3)(b), Florida Statutes. In connection with our audit, we did not note any special district component units that failed to provide the necessary information for proper reporting in accordance with Section 218.39(3)(b), Florida Statutes. As required by Section 218.39(3)(c), Florida Statutes, and Section 10.554(1)(i)7, Rules of the Auditor General, the CRA reported the following information that was not subject to auditing procedures: a. The total number of district employees compensated in the last pay period of the district's fiscal year as 0. b. The total number of independent contractors to whom non -employee compensation was paid in the last month of the district's fiscal year as 6. 25 Page 36 of 54 Honorable CRA Board Community Redevelopment Agency City of Ocoee, Florida MANAGEMENT LETTER c. All compensation earned by or awarded to employees, whether paid or accrued, regardless of contingency as $0. d. All compensation earned by or awarded to non -employee independent contractors, whether paid or accrued, regardless of contingency as $595,111. e. Each construction project with a total cost of at least $65,000 approved by the CRA that is scheduled to begin on or after October 1 of the fiscal year being reported, together with the total expenditures for such projects as: Wellness Park Construction and Observation Services for $311,863. f. A budget variance based on the budget adopted under Section 189.016(4), Florida Statutes, before the beginning of the fiscal year being reported if the district amends a final budget under Section 189.016(6), Florida Statutes, see Schedule of Revenues, Expenditures, and Changes in Fund Balance — Budget and Actual as presented in the financial statements for the year ended September 30, 2024. Additional Matters Section 10.554(1)(i)3., Rules of the Auditor General, requires us to communicate non-compliance with provisions of contracts or grant agreements, or fraud, waste, or abuse, that has occurred or is likely to have occurred, that has an effect on the financial statements that is less than material but warrants the attention of those charged with governance. In connection with our audit, we did not note any such findings. Purpose of This Letter Our management letter is intended solely for the information and use of the Legislative Auditing Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, federal and other granting agencies, the Honorable Mayor, and City of Ocoee Board of Directors and management, and is not intended to be, and should not be, used by anyone other than these specified parties. Purvis Oray March 10, 2025 Ocala, Florida 26 Page 37 of 54 MEMORANDUM TO: Honorable CRA Board FROM: Carolina Vaca, Redevelopment Program Manager Ginger Corless, CRA Administrator DATE: Tuesday, June 3, 2025 RE: Budget Adjustment for FY 2024-2025 On September 17, 2024, the budget for Fiscal Year 2024-2025 was adopted by Resolution No. 2024-002. The resolution contains an operative clause stating that the budget would be adjusted at a later time when final calculations regarding tax increment revenues and/or carried forward monies deposited were received. REVENUE On November 13, 2024, staff received from the Orange County Office of Management and Budget the FY 2025 Computation of Ocoee and Orange County Payments to the CRA. The computation stated that the tax increment payments to be made by the City and Orange County into the CRA Trust Fund were $1,748,044.13 and $1,566,071, respectively. Subsequently, the rebate owed by the CRA back to Orange County —per the interlocal agreement —was $169,821.30. These values were more than those originally estimated during the budget adoption process, as follows: As previously shared at the March CRA Board meeting, staff has already sent the Rebate payment to Orange County and there are currently no outstanding payments. In addition to the change in Tax Increment Revenue received, the estimated cash carried forward from Fiscal Year 2024 must also be adjusted to accurately reflect the audited year-end results of operations. Initially, staff budgeted $5,905,201 which is Page 38 of 54 an estimated amount due to the total reconciliations being incomplete at the time. A true -up is now necessary to reflect the final audited cash balance of $6,905,482. It should be noted that staff is not expecting to receive the $750,000 grant from Healthy West Orange until next fiscal year (FY2026) and is therefore removing it from the revenue sources for FY25. Healthy West Orange has approved an extension of the grant until September 30, 2027. As a result, although the difference in cash carried forward is $1,000,281, the net adjustment in total revenue is $282,086.90. ADJUSTMENTS Staff proposes, in accordance with Resolution No. 2024-002, that the increase in Tax Increment Revenue be added to line item 4900, Reserve for Contingency. Since Section 163.387 (7), Florida Statutes, dictates that money remaining in the trust fund at the end of the fiscal year be appropriated to specific redevelopment projects, staff proposes that the remaining $277,569.77 be added to Fund 131, Capital Improvements, to be used specifically for the Bluford Avenue Streetscape project. Page 39 of 54 In accordance with Section 189.016 (6) (c), Florida Statutes, the budget amendment will be adopted by resolution. Staff will bring Resolution No. 2025-001 before the CRA Board at the June 3, 2025, meeting. All changes outlined in this memo are reflected in Exhibit A of the resolution. Attachments: OCPA Estimated Taxable Value, dated May 31, 2024 FY 2025 Computation of Ocoee Payment to CRA and rebate to OC Email from Healthy West Orange extending grant timeline to September 30, 2027. Resolution No. 2025-001 Page 40 of 54 200 S. Orange Avenue, Suite 1700 • Orlando, Florida 32801-3438 • (407) 836-5044 May 31, 2024 City of Ocoee Robert Frank, City Manager 150 Lake Shore Drive Ocoee, FL 34761 DO . M 1:51 As provided by Florida Statute 200.065(8), our estimate of 2024 Taxable Value for Real and Tangible Personal Property for the City of Ocoee is: City of Ocoee $5,016,455,143 Ocoee CRA 1 $528,704,709 This information should assist you in your budget planning process and we look forward to providing excellence in service to the City of Ocoee in the coming year. If you have any questions, please contact Mark Webster, Director of Tax Roll Services, at (407)836-5010. Sincerely, Amy Mercado, MBA Orange County Property Appraiser Page 41 of 54 Payment to the Ocoee CRA from the City of Ocoee TAX YEAR 2024 Current year gross taxable value (DR 422) Base year taxable value Current year incremental taxable value Incremental value / 1,000 Current year City of Ocoee millage (1) Estimated incremental ad -valorem revenues 95% (per F.S. Chapter 163.387) Fiscal Year 2025 529,211,378 157,484,822 371,726,556 371,727 4.9500' 1,840,046 95% Current Year CRA Payment to the Ocoee CRA from the City of Ocoee $ 1,748,044.13 (1) The source for the current year City of Ocoee millage is the Property Appraiser's website Millage Rates. Prepared by OMB 1 of 2 11/12/2024 it Page 42 of 54 Amended Orange County / City of Ocoee / Ocoee Community Redevelopment Agency Rebate Calculation City of Ocoee Current Year CRA Tax Increment Payment Orange County Current Year CRA Tax Increment Payment Total Tax Increment Payment and Amount to be Rebated by Ocoee CRA Pro-rata Contribution Share for the City of Ocoee Pro-rata Contribution Share for Orange County Rebate Distribution to Orange County (Rebate should be paid within 60 days of receipt of increment funding) Total Rebate Fiscal Year 2025 $1,748,044.13 $1,566,071.00 $3,314,115.13 52.7454% 47.2546% $169,821.30 $169,821.30 Upon receipt of Orange County's payment as set forth in paragraph 5 (a) hereof, the City hereby agrees to rebate, or cause the CRA to rebate to Orange County each year, within sixty days of receipt of said payment, the following portion of the amount deposited by Orange County in the Community Redevelopment Trust fund established by the City pursuant to Section 163.387, Florida Statutes, for the particular year (such payment being herein referred to as the "Rebate") (1) Thirty percent (30%) of the amount in excess of $1,000,000.00 but less than or equal to $2,000,000.00, plus, (2) Fifty percent (50%) of the amount in excess of $2,000,000.00 Prepared by OMB 2 of 2 11/12/2024 jt Page 43 of 54 ORLANDO, (ORjw:) RATE 77 .66(yo MILL CODE TOTAL 7 19.1028 8 18.1028 13 1 9i.-1 02-8 22 18.0183 25 18.0183 26 18.0183 27 18.0183 28 18.1028 36 18.0183 71 18.1028 77 19.1028 78 18.1028 88 18.2517 89 18.2517 90 19.0040 91 19.1641 92 19.1641 93 19.0040 94 18.4118 95 18.0183 WINTER, GARIDEN, ( G) RATE MILL CODE TOTAL 11 15.9528 63 15.9528 64 15.9528 65 15.95281 MAlTLANq,(M[TL) RATE 5.2485 MILL CODE TOTAL 6 16.3265 AMY MERCADO ORANGECOUNTY PROPERTY APPRAISER 2024 PROPOSED MILLAGE RATES QqOEE (OCO) RATE 4.9,FO-O MILL CODE TOTAL 35 16.3183 1 65 16.4028 1 WljN0ERMlERE(WNW ),� RATE 3.7,425 MILL CODE TOTAL 35 15.1108 75 15.3636 OAKLAND,(OAK), RATE V 0 0-0 MILL CODE TOTAL 65 18.1528 EATONVILLETE-W) RATE 7.29,30 MILL CODE TOTAL 11 18.7466 34 19.0196 BAY LAKE, (PAY), RATE 1.8850 MILL CODE TOTAL 70 26.3363 LAKE'A M $"UEN,,,Vl (LS'V):,, RATE 1:9243 MILL CODE TOTAL 35 13.2926 70 26.3756 U AQNCREEDYCFWEKQ"RATE 44043,,, MILL CODE TOTAL 70 26.2556 t),NINCO,,,RPPR.ATE!),,,(O�iG), RATE 777- , 347 MILL CODE TOTAL 10 16.0163 11 16.1008 12 17.3508 13 16.8649 14 16.9494 15 16.2717 16 16.3562 17 16.9621 18 18.0198 19 17.4266 20 16.6758 21 17.1712 23 16.6008 24 16.0163 29 16.0163 30 16.1008 31 17.4880 32 16.1008 33 16.1418 35 16.0163 37 16.1541 38 16.7208 39 18.1008 40 16.8602 41 18.6345 42 19.4831 43 18.8899 45 17.8605 47 17.1727 53 16.1179 54 16.1008 65 16.1008 66 16.6163 67 16.7008 68 16.8691 70 26.2556 75 16.2691 82 16.7553 83 19.1008 84 17.6039 85 17.0107 88 16.2497 89 16.2497 90 17.0020 92 17.1621 93 17.0020 94 16.4098 1& 16/1"0"3' ot '��26 F IVI Page 44 of 54 Computation of CRA Payment Ocoee CRA 0001-023-0420-8340 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 A. Current Year Taxable Value 2018 Tax Roll 2019 Tax Roll 2020 Tax Roll 2021 Tax Roll 2022 Tax Roll 2023 Tax Roll 2024 Tax Roll 1. OMB Estimate '< 246629,193 308,108,005 331740,144 : 357346,190 386839,265 472,979,948: 486,184,055 ; Percent Change' 16.8% 1.1%,, 1.7%, 1.0%, 8.1%, -3.0%, 8.7% 2. Prop. Appr. Best Estimate 288,134,454 304,744,290 337,474,204 360,772,423 418,232,320 458,849,083 528,704,709 Percent Change -0.1% 1.5% 1.9% -0.3%I 0.6% 0.1% 0.0% 3. DR 420 287 882,363 : 309 318,357 343 978,328 359 559,036 420,697,440 'i 459,165,913 528,704,709 ' Percent Change, -0.2% -0.2% 0.7% 0.0% 0.0%, -0.5%, 0.1%, 4. DR 422 (1st Final Tax Roll) 287,187,411 308,595,483 346,265,688 359,516,046 420,650,968 456,939,901 529,211,378 Percent Change 0.0% 0.0% 0.0% 0.0%I -0.4% 0.0%I 5. Post VAB (2nd Final Tax Roll) 287,146,323 308 595,483 346 265,688 359 516,046 419,075,389 456,939,901 B. Base Year Taxable Value 157,484,822 157,484,822 157,484,822 157,484,822 157,484,822 157,484,822 157,484,822 C. Cur Yr Incremental Taxable Val. [A - B] 1. OMB Estimate 89,144,371 ' 150 623,183 174 255,322 i 199' 861,368 229,354,443 315,495,126 328,699,233 2. Prop. Appr. Best Estimate 130,649,632 147,259,468 179,989,382 203,287,601 260,747,498 301,364,261 371,219,887 3. DR 420 130,397,541 151 833,535 186 493,506 202 074,214 + 263,212,618 301,681,091 371,219,887 4. DR 422 129,702,589 151,110,661 188,780,866 202,031,224 263,166,146 299,455,079 371,726,556 5.Post VAB 129661,501 ± 151,110,661 188,780,866 202,031,224 261,590,567 299,455,079 D. Current Year Countywide Millage 4.4347 4.4347 4.4347 4.4347 4.4347 4.4347 4.4347= E. Est. Incremental Tax Rev [(C/1000)*D] 1. OMB Estimate 395,329 667,969 772,770 i 886,325 1,017,118 1,399,126 1,457,682 ! 2. Prop. Appr. Best Estimate 579,392 653,052 798,199 901,520 1,156,337 1,336,460 1,646,249 3. DR 420 578,274 673,336 827,043 896,139 ' 1,167,269 4 1,337,865 1,646,249 4. DR 422 575,192 670,130 837,187 895,948 1,167,063 1,327,993 1,648,496 5. Post VAB 575,010 670,130 + 837,187 895,948 1160,076 1,327,993 F. Amount Due to CRA [E .95] 1. OMB Estimate - 375,562 634,570 734,132 842,009 f 966,262 1}}},329,170 1,384,798 2. Prop. Appr. Best Estimate 550,422 620,399 758,289 856,444 1,098,520 1,269,637 1,563,936 3. DR 420 549,360 639,669 785,691 = 851,332 1,108,906 1,270,972 1,563,936 4. DR 422 546,432 636,624 795,327 851,150 1,108,710 1,261,594 1,566,071 5. Post VAB 546,259 636,624 795,327 851,150 1,102,072 1,261,594 - G. Adj for Prior FY Over -/Under -Payment. (12), (173) 0 0 - 0 (6,638) -- 0 H. Payment Due [F + G] 1. OMB Estimate 375,550 634,397 734,132 842,009 'i 966,262 1,322,532 1,384,798 Percent Change 46.6%,. -2.2%, 3.3% 1.7% 13.7%- -4.5%,, 12.9% 2. Prop. Appr. Best Estimate 550,410 620,226 758,289 856,444 1,098,520 1,262,999 1,563,936 Percent Change -0.2% 3.1% 3.6% -0.6%I 0.9% 0.1% 0.0% 3. DR 420 549,348 639,496 . 785,691 851,332 4 1108,906 1264,334 ; 1,563,9361 -; Percent Change -0.5% -0.5% 1.2%, 0.0% 0.0%, -0.7%, 0.1% - 4.DR422 ---- 546,421 -- 636,451 - 795,327 851,150 - - 1,108,710 1,254,956 - 1,566,071 Percent Change 0.0% 0.0% 0.0% 0.0% -0.6% 0.0%I 5. Post VAB 546,247 636,451 795,327 851,150 1102,072 1,254,956 I. Budget Proposed (Workshop) Payment J. Budget Adopted (Based on DR 420) Payment 549,348 639,496 801,405 868,359 1,108,906 1,327,551 K. Budget Required (Per DR 422) Payment 546,421 636,451 795,327 851,150 1,108,710 1,254,956 L. Budget Adjustment Required [K - J] Payment M. Adjusted Current Budget [J + L] Payment N. Computation of Over -/Under -Payment Actual Paid 546,421 636,451 795,327 851,150 1,108,710 1,254,956 Should Pay (Based on Post VAB) 546,247 636,451 795,327 851,150 1,102,072 1,254,956 Amount Over-/ (Under-) Paid 173 0 0 0 6,638 0 Taxable value growth rate used for OMB est. 8.8% 7.3% 7.5% 3.2% 7.6% 12.4% 6.4% Footnotes: Computation of CRA Payments (CRITR Trax)/Ocoee 11/12/2024 jw Page 45 of 54 DR-422 R. 5/13 Rule 12D-16.002 CERTIFICATION I L TAXABLE L Florida Administrative Code Effective 5/13 Provisional DEPARTMENT OF REVENUE M,---------------- Year�.. .�.�......�... ....m. w... 2024 County ORANGE Is VAB still in session? ❑ Yes ❑ No PrinclpaI Aatttsctr)t+j OCO E Check type yP ❑ School District ❑County ❑ Municipality l ❑ Independent Special District ❑ Water Management District Taxing Authority OCOEE CRA I Check type ❑ Principal Authority ❑MSTU ❑ Dependent Special District ❑ Water Management District Basin k : SECTION I: _ COMPLETED BY PROPERTY APPRAISER 1. Current year gross taxable value from Line 4, Form DR 420 $ 528,704,709 (1) r i 2 Final current year gross taxable value from Form DR-403 Series $ 529,211,378 (2) Percentage of change in taxable value 0.10 % � (3) 8. (Line 2 divided by Line 1, minus 1, multiplied by 100) The taxing authority must complete this form and return it to the property appraiser by 5:00 pm, Se ember 2 Pi" aAppri��4�er Certification I certify the taxable values above are correct to the best of my knowledge. SIGN Signature of Property Appraiser Date HERE M September 25, 2024 3 SECTION II: w u COMPLETED BY TAXING AUTHORITY MILLAGE RATE ADOPTED BY RESOLUTION OR ORDINANCE AT FINAL BUDGET HEARING UNDER s.200.065(2)(d), F.S. If this portion of the form is not completed in full your taxing authority will be denied TRIM certification and possibly lose its millage levy privilege for the tax year. If any line is inapplicable, enter NA or -0-. Non -Voted Operating Millage Rate (from resolution or ordinance) 4a I County or municipal principal taxing authority per $1,000 (4a) 4b.1 Dependent special district name ry :W..P er $1,000 µw q«.... "I ............�F.-,._....., ......,.... .,,._.,..�.�.«.�a.,..:-........ -... ........ ................................rc..n.««........,..,..—.rs....... ¢ uw�«.+«..�....,.,. +.,.a.=... :.. 4c.1 Municipal service taxing unit (MSTU) per $1,000 (4c) 4d Independent special district per $1,000 (4d) 4e.1 School district Required Local Effort per $1,000 (4e) #' Capital Outlay per $1,000 Discretionary Operating per $1,000 ` i Discretionary Capital Improvement P $1,000 Water management district Additional Voted Millage District levy Basin ... ...... t ❑ YES ❑ NO if jV,0$ a Continued on page 2 per $1,000 per $1,000 (4f) per $1,000 IERE, Sign and Submit. Page 46 of 54 . ,. ........ Taxing Authority Certification I certify the millages and rates are correct to the best of my knowledge The millages S comply with the provisions of s.200.065 and the provisions of either s.200.071 or s.200 081, F.S. G I Signature of Chief Administrative Officer Date N i... �. --„ �a.._— - -�., Title � Contact Name and Contacat7itle � E' Maigddres lin�As:.��...��.�� ....... ;��.�-�.�v� .�w ..��wed,�. ,p e_ _a�A�� _.._;-w,w.� Physical Address { R City, State, Zip Phone Number Fax Number I INSTRUCTIONS SECTION 1: Property Appraiser 1. Initiate a separate DR-422 form for each DR420, Certificate of Taxable Value, and DR-420S, Certificate of School Taxable Value, submitted. 2. Complete Section 1 and sign. 3. Send the original to the taxing authority and keep a copy. 1. Complete Section II and sign. 2. Return the original to the property appraiser. 3. Keep a copy for your records. 4. Send a copy to the tax collector. 5. Send a copy with the DR-487, Certification of Compliance, to the Department of Revenue at the address below. Send separately if the DR-487 was previously sent to the Department. Florida Department of Revenue Property Tax Oversight - TRIM Section P. O. Box 3000 Tallahassee, Florida 32315 - 3000 All taxing authorities must complete Line 4, millages adopted by resolution/ordinance at final budget hearing. Counties, municipalities, schools, and water management districts may complete Line 5 and Line 6 only when Line 3 is greater than plus or minus 1 %. (s. 200.065(6), F.S.). MSTLIs, dependent special districts, and independent special districts may adjust the non -voted millage rate only when Line 3 is greater than plus or minus 3%. (s. 200.065(6), F.S.) Adjusted millage rate must comply with statutes. The adjusted millage rate entered on Line 6 or Line 8 cannot exceed the rate allowed by other provisions of law or the state constitution. Multi -county and water management districts must complete a separate DR-422 for each county. All forms for taxing authorities are available on our website at http://dor.myflor!da.com/dor/property/trim Page 47 of 54 Outlook RE: Wellness Park/S. Bluford Multipurpose Path From Pat Brown <pbrown@fhwo.org> Date Mon 5/12/2025 3:37 PM To Corless, Ginger <VCorless@ocoee.org> Cc Vaca, Carolina <CVaca@ocoee.org >; Tracy Swanson <tswanson@fhwo.org > Ginger: Please consider this email as amendment and approval for the City's request dated April 4, 2025 for the Ocoee grant to extend completion of work to September 30, 2027. Tracy Swanson and I informed the Board on Thursday May 1, 2025 of the City's request for final Grant payment of $750,000 or a Time Extension. The Foundation for a Healthier West Orange Board agreed to allow the Time Extension. We will document with this email the approved extension to September 30, 2027 and look forward to the work being completed in the next two years. Thank you for your passion for this work. Pat Brown Pat Brown Controller Foundation for a Healthier West Orange PLrownLq FHWOorg Work: 407-337-6919 Ext 108 Mobile: 321-278-9432 HE A L"Ic H Y WEST ORANGE 1200 E. Plant Street, Suite 200 Winter Garden, FL 34787 From: Corless, Ginger <VCoriess@ocoee.org> Sent: Monday, April 14, 2025 3:46 PM To: Pat Brown <pbrown@fhwo.org> Cc: Vaca, Carolina <CVaca@ocoee.org> Subject: Wellness Park/S. Bluford Multipurpose Path Page 48 of 54 Here is the revised letter 154 111 111111111111111111111111 filill 1111111!I�11!�JJFI'Ill rjjIIIjI •"pi Z' I I Development Services Director & CRA Administrator City of Ocoee Direct PH: 407-554-7126 Cell: 407-608-0401 � � 2" 6 . () 2 5 Florida has a very broad public records law (F.S. 119). As a result, any written communication created or received by City of Ocoee officials and employees will be made available to the public and media, upon request, unless otherwise exempt. Additionally, under Florida Law email addresses are public records. Page 49 of 54 CRA RESOLUTION NO. 2025-001 A RESOLUTION OF THE OCOEE COMMUNITY REDEVELOPMENT AGENCY TO AMEND THE BUDGET FOR FISCAL YEAR 2024-2025; PROVIDING FOR SEVERABILITY; PROVIDING AN EFFECTIVE DATE. WHEREAS, the Community Redevelopment Agency CRA is a dependent special district under Chapter 189, Florida Statutes, known as the Uniform Special District Accountability Act (the "Special District Act"); and WHEREAS, the Special District Act requires all special districts, including dependent special districts, such as the CRA, to adopt a budget for each fiscal year by resolution; and WHEREAS, Section 189.016(6), Florida Statutes, allows the governing board of a community redevelopment agency to amend its budget at any time within a fiscal year by resolution; and WHEREAS, the Fiscal Year 2024-2025 annual budget approved on September 17, 2024, includes an estimate of all revenue and expenditures for the year for the Ocoee Community Redevelopment Agency; and WHEREAS, the Executive Director of the CRA requests to amend or adjust the budget at this time, for the purpose of adjusting the actual Tax Increment Financing (TIF) amounts 1 Page 50 of 54 received from the City of Ocoee and Orange County and amending unexpended balance from FY23-24. REDEVELOPMENT AGENCY, AS FOLLOWS: SECTION 1. Authority. The CRA has the authority to adopt this Resolution pursuant to the Special District Act. SECTION 2. Amendment of Budget. The governing body of the CRA does hereby approve and adopt the amended CRA Budget for Fiscal Year 2024-2025 as attached hereto and incorporated herein in Exhibit A. SECTION 3. Severability. If any section, subsection, sentence, clause, phrase or portion of this Resolution is for any reason held invalid or unconstitutional by any court of competent jurisdiction, such portion shall be deemed a separate, distinct and independent provision and such holding shall not affect the validity of the remaining portion hereto. SECTION 4. Effective Date. This Resolution shall become effective immediately upon passage and adoption. PASSED AND ADOPTED this 3rd of June 2025. SIGNATURES TO FOLLOW 2 Page 51 of 54 ATTEST: Melanie Sibbitt, Secretary (SEAL) FOR USE AND RELIANCE ONLY BY THE OCOEE COMMUNITY REDEVELOPMENT AGENCY, APPROVED AS TO FORM AND LEGALITY This 3d day of June 2025. FISHBACK DOMINICK, LLP m Richard S. Geller, CRA Attorney APPROVED: OCOEE COMMUNITY REDEVELOPMENT AGENCY Chair 3 Page 52 of 54 EXHIBIT A CRA AMENDED BUDGET FOR FY 2024-2025 Revenue Page 53 of 54 EXHIBIT A CRA AMENDED BUDGET FOR FY 2024-2025 Expenditures 130-516-00-1101 OTHER SERVICES $ 3,591 $ 3,591.00 130-516-00-1200 REGULAR SALARIES $ 246,315 $ 246,315.00 130=516-00-2100 FICA TAXES $; 22,434 $ 22,434.00 130-516-00-2200 RETIREMENT CONTRIBUTIONS $ 25,669 $ 25,669.00 130-516-00-2300 HEALTH INSURANCE $ 71,328 $ 71,32.00 130-516-00-2301 LIFE INSURANCE $ 1,145 $ 1,145.00 130-516-00-2302 DENTAL/VISION INSURANCE $ 991 $ 991.00 130-516-00-2303 ACCIDENT/DISABILITY INSURANCE $ 1,281 $ 1,281.00 130-516-00-2400 WORKERS' COMP INSURANCE $', 483 $ 483.00 130-516-00-3101 LEGAL FEES $ 8,000 $ 8,000.00 130-516-00-3128 PROFESSIONAL SERVICES $ 150,000 $ 150,000.00 130-516-00-3129 COUNTY CONTRIBUTION REBATE $ 169,181 $ 169,181.00 130-516-00-3200 ACCOUNTING', AUDITING $ 6,000 $ 6,000.00 130-516-00-3400 CONTRACTUAL SERVICES $ 275,000 $ 275,000.00 130-516-00-4000 TRAVEL EXPENSE $ 6,659 $ 6,659.00 130-516-00-4100 TELEPHONE EXPENSE $ 3,800 $ 3,800.00 130-516-00-4200 POSTAGE FREIGHT $ 1,100 $ 1,100.00 130-516-00-4301 WATER EXPENSE $ 40,000 $ 40,000.00 130-516-00-4700 PRINTING AND BINDING $ 5,000 $ 5,000.00 130-516-00-4900 RESERVE FOR CONTINGENCY $ 50,000 $ 54,517.13 130-516-00-4901 ADMINISTRATION LEGAL ADS $ 600 $ 600.00 130-516-00-5100 OFFICE SUPPLIES $ 1,400 $ 1,400.00 130-516-00-5200 POL SUPPLIES $ 600 $ 600.00 130-516-00-5201 UNIFORMS $ 275 $ 275.00 130-516-00-5202 Operating Supplies $ 1,000 $ 1,000.00 130-516-00-5216 COPYING EXPENSE $ 1,000 $ 1,000.00 130-516-00-5235 COMPUTER PERIPHERALS - SOFTWARE UNDER $100C $ 2,000 $ 2,000.00 130-516-00-5401 BOOKS -SUBSCRIPTIONS $ 1,000 $ 1,000.00 130-516-00-5402 PROFESSIONAL DUES $; 3,000 $ 3,000.00 130-516-00-5405 TRAINING EXPENSE $ 7,000 $ 7,000.00 130-516-00-8205 PUBLIC RELATIONS DEVELOPMENT $ 7,500 $ 7,500.00 130-516-00-821C GRANTS CONTRIBUTION $ 127,200 $ 127,200.00 130-516-00-9000 TRANSFERS OUT (Capital Improvements) $ 8,824,192 $ 9,101,761.77 Restricted for Capital (funds carried over from FY24) $ 5,905,201 $ 6,905,482.00 Old Winter Garden/Maguire Read Intersection Improvements $ 390,498 $ 390,498.00 Minor Infrastructure Improvements $ 78,447 $ 78,447.00 S Bluford Complete Street Project $ 2,450,046 $ 1,727,33.77 TOTAL $ 10,064,744 $ 10,346,830.90 Page 54 of 54