HB 1391

1	A bill to be entitled
2	An act relating to community redevelopment agencies;
3	creating s. 163.351, F.S.; revising requirements
4	concerning reporting by community redevelopment agencies;
5	requiring an annual report of progress and plans to the
6	governing body; requiring that the agency and the county
7	or municipality make such report available for public
8	inspection; requiring that certain reports or information
9	concerning dependent special districts be annually
10	provided to the Department of Community Affairs; requiring
11	that certain financial reports or information be annually
12	provided to the Department of Financial Services; amending
13	s. 163.356, F.S.; eliminating the requirement that
14	community redevelopment agencies file and make available
15	to the public certain reports concerning finances;
16	amending s. 163.387, F.S.; providing requirements
17	concerning the calculation of increment revenues; revising
18	the factors used to calculate increment revenues; limiting
19	expenditures made from the redevelopment trust fund for
20	the undertakings of a community redevelopment agency to
21	undertakings within the community redevelopment area;
22	providing a list of the types of expenditures that may be
23	made; specifying that the list is not exclusive;
24	eliminating requirements concerning the auditing of a
25	community redevelopment agency's redevelopment trust fund;
26	providing an effective date.
27
28	Be It Enacted by the Legislature of the State of Florida:
29
30	Section 1.  Section 163.351, Florida Statutes, is created
31	to read:
32	163.351  Reporting requirements for community redevelopment
33	agencies.--Each community redevelopment agency shall annually:
34	(1)  By March 31 file with the governing body a report
35	describing the progress made on each public project in the
36	redevelopment plan which was funded during the preceding fiscal
37	year and summarizing activities that, as of the end of the
38	fiscal year, are planned for the upcoming fiscal year. On the
39	date that the report is filed, the agency shall publish in a
40	newspaper of general circulation in the community a notice that
41	the report has been filed with the county or municipality and is
42	available for inspection during business hours in the office of
43	the clerk of the county or municipality and in the office of the
44	agency.
45	(2)  Provide the reports or information that a dependent
46	special district is required to file under chapter 189 to the
47	Department of Community Affairs.
48	(3)  Provide the reports or information required under ss.
49	218.32, 218.38, and 218.39 to the Department of Financial
50	Services.
51	Section 2.  Paragraph (c) of subsection (3) of section
52	163.356, Florida Statutes, is amended to read:
53	163.356  Creation of community redevelopment agency.--
54	(3)
55	(c)  The governing body of the county or municipality shall
56	designate a chair and vice chair from among the commissioners.
57	An agency may employ an executive director, technical experts,
58	and such other agents and employees, permanent and temporary, as
59	it requires, and determine their qualifications, duties, and
60	compensation. For such legal service as it requires, an agency
61	may employ or retain its own counsel and legal staff. An agency
62	authorized to transact business and exercise powers under this
63	part shall file with the governing body, on or before March 31
64	of each year, a report of its activities for the preceding
65	fiscal year, which report shall include a complete financial
66	statement setting forth its assets, liabilities, income, and
67	operating expenses as of the end of such fiscal year. At the
68	time of filing the report, the agency shall publish in a
69	newspaper of general circulation in the community a notice to
70	the effect that such report has been filed with the county or
71	municipality and that the report is available for inspection
72	during business hours in the office of the clerk of the city or
73	county commission and in the office of the agency.
74	Section 3.  Paragraph (a) of subsection (1) and subsections
75	(6) and (8) of section 163.387, Florida Statutes, are amended to
76	read:
77	163.387  Redevelopment trust fund.--
78	(1)(a)  After approval of a community redevelopment plan,
79	there may be established for each community redevelopment agency
80	created under s. 163.356 a redevelopment trust fund. Funds
81	allocated to and deposited into this fund shall be used by the
82	agency to finance or refinance any community redevelopment it
83	undertakes pursuant to the approved community redevelopment
84	plan. No community redevelopment agency may receive or spend any
85	increment revenues pursuant to this section unless and until the
86	governing body has, by ordinance, created the trust fund and
87	provided for the funding of the redevelopment trust fund until
88	the time certain set forth in the community redevelopment plan
89	as required by s. 163.362(10). Such ordinance may be adopted
90	only after the governing body has approved a community
91	redevelopment plan. The annual funding of the redevelopment
92	trust fund shall be in an amount not less than that increment in
93	the income, proceeds, revenues, and funds of each taxing
94	authority derived from or held in connection with the
95	undertaking and carrying out of community redevelopment under
96	this part. Such increment revenues shall be determined annually
97	and shall be calculated as an that amount equal to 95 percent of
98	the difference between:
99	1.  The amount of ad valorem taxes levied each year by each
100	taxing authority, exclusive of any amount from any debt service
101	millage, on taxable real property contained within the
102	geographic boundaries of a community redevelopment area; and
103	2.  The amount of ad valorem taxes which would have been
104	produced by the rate upon which the tax is levied each year by
105	or for each taxing authority, exclusive of any debt service
106	millage, upon the total of the assessed value of the taxable
107	real property in the community redevelopment area as shown upon
108	the most recent assessment roll used in connection with the
109	taxation of such property by each taxing authority prior to the
110	effective date of the ordinance creating the trust fund and
111	providing for the funding of the trust fund.
112
113	However, the governing body of any county as defined in s.
114	125.011(1) may, in the ordinance providing for the funding of a
115	trust fund established with respect to any community
116	redevelopment area created on or after July 1, 1994, determine
117	that the amount to be funded by each taxing authority annually
118	shall be less than 95 percent of the difference between
119	subparagraphs 1. and 2., but in no event shall such amount be
120	less than 50 percent of such difference.
121	(6)  Moneys in the redevelopment trust fund may be expended
122	from time to time for undertakings of a community redevelopment
123	agency within the community redevelopment area as described in
124	the community redevelopment plan. Such expenditures may include
125	for the following purposes, including, but are not limited to:
126	(a)  Administrative and overhead expenses necessary or
127	incidental to the implementation of a community redevelopment
128	plan adopted by the agency.
129	(b)  Expenses of redevelopment planning, surveys, and
130	financial analysis, including the reimbursement of the governing
131	body, any taxing authority, or the community redevelopment
132	agency for such expenses incurred before the redevelopment plan
133	was approved and adopted.
134	(c)  Expenses related to the promotion or marketing of
135	projects or activities in the redevelopment area which are
136	sponsored by the community redevelopment agency.
137	(d)(c)  The acquisition of real property in the
138	redevelopment area.
139	(e)(d)  The clearance and preparation of any redevelopment
140	area for redevelopment and relocation of site occupants within
141	or outside the community redevelopment area as provided in s.
142	163.370.
143	(f)(e)  The repayment of principal and interest or any
144	redemption premium for loans, advances, bonds, bond anticipation
145	notes, and any other form of indebtedness.
146	(g)(f)  All expenses incidental to or connected with the
147	issuance, sale, redemption, retirement, or purchase of bonds,
148	bond anticipation notes, or other form of indebtedness,
149	including funding of any reserve, redemption, or other fund or
150	account provided for in the ordinance or resolution authorizing
151	such bonds, notes, or other form of indebtedness.
152	(h)(g)  The development of affordable housing within the
153	community redevelopment area.
154	(i)(h)  The development of Community policing innovations.
155
156	This listing of types of expenditures is not an exclusive list
157	of the expenditures that may be made under this subsection and
158	is intended only to provide examples of some of the activities,
159	projects, or expenses for which an expenditure may be made under
160	this subsection.
161	(8)  Each community redevelopment agency shall provide for
162	an audit of the trust fund each fiscal year and a report of such
163	audit to be prepared by an independent certified public
164	accountant or firm. Such report shall describe the amount and
165	source of deposits into, and the amount and purpose of
166	withdrawals from, the trust fund during such fiscal year and the
167	amount of principal and interest paid during such year on any
168	indebtedness to which increment revenues are pledged and the
169	remaining amount of such indebtedness. The agency shall provide
170	by registered mail a copy of the report to each taxing
171	authority.
172	Section 4.  This act shall take effect October 1, 2008.

CODING: Words stricken are deletions; words underlined are additions.