Florida Senate - 2008 SB 2518
By Senator Bennett
21-03302A-08 20082518__
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A bill to be entitled
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An act relating to community redevelopment agencies;
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creating s. 163.351, F.S.; revising requirements
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concerning reporting by community redevelopment agencies;
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requiring an annual report of progress and plans to the
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governing body; requiring that the agency and the county
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or municipality make such report available for public
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inspection; requiring that certain reports or information
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concerning dependent special districts be annually
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provided to the Department of Community Affairs;
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requiring that certain financial reports or information
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be annually provided to the Department of Financial
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Services; amending s. 163.356, F.S.; eliminating the
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requirement that community redevelopment agencies file
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and make available to the public certain reports
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concerning finances; amending s. 163.387, F.S.; providing
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requirements concerning the calculation of increment
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revenues; revising the factors used to calculate
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increment revenues; limiting expenditures made from the
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redevelopment trust fund for the undertakings of a
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community redevelopment agency to undertakings within the
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community redevelopment area; providing a list of the
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types of expenditures that may be made; specifying that
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the list is not exclusive; eliminating requirements
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concerning the auditing of a community redevelopment
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agency's redevelopment trust fund; providing an effective
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date.
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Be It Enacted by the Legislature of the State of Florida:
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Section 1. Section 163.351, Florida Statutes, is created to
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read:
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163.351 Reporting requirements for community redevelopment
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agencies.--Each community redevelopment agency shall annually:
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(1) By March 31 file with the governing body a report
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describing the progress made on each public project in the
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redevelopment plan which was funded during the preceding fiscal
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year and summarizing activities that, as of the end of the fiscal
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year, are planned for the upcoming fiscal year. On the date that
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the report is filed, the agency shall publish in a newspaper of
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general circulation in the community a notice that the report has
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been filed with the county or municipality and is available for
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inspection during business hours in the office of the clerk of
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the county or municipality and in the office of the agency.
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(2) Provide the reports or information that a dependent
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special district is required to file under chapter 189 to the
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Department of Community Affairs.
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(3) Provide the reports or information required under ss.
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Services.
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Section 2. Paragraph (c) of subsection (3) of section
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163.356, Florida Statutes, is amended to read:
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163.356 Creation of community redevelopment agency.--
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(3)
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(c) The governing body of the county or municipality shall
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designate a chair and vice chair from among the commissioners. An
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agency may employ an executive director, technical experts, and
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such other agents and employees, permanent and temporary, as it
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requires, and determine their qualifications, duties, and
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compensation. For such legal service as it requires, an agency
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may employ or retain its own counsel and legal staff. An agency
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authorized to transact business and exercise powers under this
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part shall file with the governing body, on or before March 31 of
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each year, a report of its activities for the preceding fiscal
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year, which report shall include a complete financial statement
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setting forth its assets, liabilities, income, and operating
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expenses as of the end of such fiscal year. At the time of filing
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the report, the agency shall publish in a newspaper of general
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circulation in the community a notice to the effect that such
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report has been filed with the county or municipality and that
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the report is available for inspection during business hours in
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the office of the clerk of the city or county commission and in
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the office of the agency.
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Section 3. Paragraph (a) of subsection (1) and subsections
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(6) and (8) of section 163.387, Florida Statutes, are amended to
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read:
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163.387 Redevelopment trust fund.--
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(1)(a) After approval of a community redevelopment plan,
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there may be established for each community redevelopment agency
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created under s. 163.356 a redevelopment trust fund. Funds
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allocated to and deposited into this fund shall be used by the
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agency to finance or refinance any community redevelopment it
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undertakes pursuant to the approved community redevelopment plan.
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No community redevelopment agency may receive or spend any
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increment revenues pursuant to this section unless and until the
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governing body has, by ordinance, created the trust fund and
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provided for the funding of the redevelopment trust fund until
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the time certain set forth in the community redevelopment plan as
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required by s. 163.362(10). Such ordinance may be adopted only
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after the governing body has approved a community redevelopment
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plan. The annual funding of the redevelopment trust fund shall be
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in an amount not less than that increment in the income,
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proceeds, revenues, and funds of each taxing authority derived
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from or held in connection with the undertaking and carrying out
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of community redevelopment under this part. Such increment
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revenues shall be determined annually and shall be calculated as
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an that amount equal to 95 percent of the difference between:
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1. The amount of ad valorem taxes levied each year by each
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taxing authority, exclusive of any amount from any debt service
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millage, on taxable real property contained within the geographic
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boundaries of a community redevelopment area; and
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2. The amount of ad valorem taxes which would have been
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produced by the rate upon which the tax is levied each year by or
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for each taxing authority, exclusive of any debt service millage,
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upon the total of the assessed value of the taxable real property
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in the community redevelopment area as shown upon the most recent
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assessment roll used in connection with the taxation of such
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property by each taxing authority prior to the effective date of
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the ordinance creating the trust fund and providing for the
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funding of the trust fund.
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However, the governing body of any county as defined in s.
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125.011(1) may, in the ordinance providing for the funding of a
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trust fund established with respect to any community
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redevelopment area created on or after July 1, 1994, determine
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that the amount to be funded by each taxing authority annually
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shall be less than 95 percent of the difference between
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subparagraphs 1. and 2., but in no event shall such amount be
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less than 50 percent of such difference.
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(6) Moneys in the redevelopment trust fund may be expended
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from time to time for undertakings of a community redevelopment
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agency within the community redevelopment area as described in
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the community redevelopment plan. Such expenditures may include
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for the following purposes, including, but are not limited to:
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(a) Administrative and overhead expenses necessary or
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incidental to the implementation of a community redevelopment
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plan adopted by the agency.
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(b) Expenses of redevelopment planning, surveys, and
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financial analysis, including the reimbursement of the governing
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body, any taxing authority, or the community redevelopment agency
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for such expenses incurred before the redevelopment plan was
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approved and adopted.
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(c) Expenses related to the promotion or marketing of
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projects or activities in the redevelopment area which are
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sponsored by the community redevelopment agency.
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(d)(c) The acquisition of real property in the
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redevelopment area.
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(e)(d) The clearance and preparation of any redevelopment
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area for redevelopment and relocation of site occupants within or
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outside the community redevelopment area as provided in s.
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(f)(e) The repayment of principal and interest or any
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redemption premium for loans, advances, bonds, bond anticipation
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notes, and any other form of indebtedness.
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(g)(f) All expenses incidental to or connected with the
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issuance, sale, redemption, retirement, or purchase of bonds,
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bond anticipation notes, or other form of indebtedness, including
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funding of any reserve, redemption, or other fund or account
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provided for in the ordinance or resolution authorizing such
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bonds, notes, or other form of indebtedness.
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(h)(g) The development of affordable housing within the
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community redevelopment area.
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(i)(h) The development of Community policing innovations.
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This listing of types of expenditures is not an exclusive list of
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the expenditures that may be made under this subsection and is
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intended only to provide examples of some of the activities,
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projects, or expenses for which an expenditure may be made under
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this subsection.
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(8) Each community redevelopment agency shall provide for
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an audit of the trust fund each fiscal year and a report of such
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audit to be prepared by an independent certified public
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accountant or firm. Such report shall describe the amount and
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source of deposits into, and the amount and purpose of
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withdrawals from, the trust fund during such fiscal year and the
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amount of principal and interest paid during such year on any
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indebtedness to which increment revenues are pledged and the
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remaining amount of such indebtedness. The agency shall provide
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by registered mail a copy of the report to each taxing authority.
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Section 4. This act shall take effect October 1, 2008.
CODING: Words stricken are deletions; words underlined are additions.