Item C1 LAND AUTHORITY GOVERNING BOARD
AGENDA ITEM SUMMARY
Meeting Date: September 15, 2011 Division: Land Authority
Bulk Item: Yes No X Staff Contact / Phone #: Mark Rosch / 295 -5180
Agenda Item Wording: A public hearing to consider a resolution adopting the Final Budget for fiscal
year 2012.
Item Background: The budget originally proposed for adoption was reviewed by the Board on July 21,
2011 and appears in Tab Z of the BOCC budget notebook. The budget adoption schedule consists of
three public meetings: adopting a tentative budget on September 7, 2011; discussing the budget on
September 12, 2011; and adopting the final budget on September 15, 2011.
The proposed budget has been revised to reflect the delay of two real estate closings. Last year the
Land Authority approved the issuance of mortgage loans to the Key West Housing Authority for the
purchase of affordable housing sites at 712 -716 Eisenhower Drive and 1911 -1913 Patterson Avenue in
Key West totaling $1,180,000. These transactions will not be closing in the current fiscal year.
Accordingly, the funding for these projects is being carried forward to fiscal year 2012, which will
increase the budget from $12,583,164 to $13,763,164. The revised appropriation appears as Property
in Key West ACSC under the heading of Grants and Aid (Mortgages), which was budgeted as $0 in the
Tentative Budget and is now budgeted as $1,180,000 in the proposed Final Budget.
Advisory Committee Action: N/A
Previous Governing Board Action: See above.
Contract /Agreement Changes: N/A
Staff Recommendation: Approval
Total Cost: $ Indirect Cost: $ Budgeted: Yes _ No
Cost to Land Authority: $ Source of Funds: .
Approved By: Attorney X County Land Steward _
Documentation: Included: X To Follow: Not Required:
Disposition: Agenda Item C • I
RESOLUTION NO.
A RESOLUTION OF THE MONROE COUNTY
COMPREHENSIVE PLAN LAND AUTHORITY ADOPTING
A FINAL BUDGET FOR FISCAL YEAR 2012.
WHEREAS, the Monroe County Comprehensive Plan Land Authority (hereinafter "Land
Authority "), a land authority pursuant to section 380.0663, Florida Statutes, held a public
hearing on September 7, 2011 after 5:00 PM at the Nelson Government Center on Key
Largo, Monroe County, Florida, to amend and adopt a Tentative Budget for Fiscal Year
2012; and
WHEREAS, the Land Authority held a final public hearing on the proposed budget on
September 15, 2011 after 5:00 PM at the Harvey Government Center in Key West,
Monroe County, Florida to amend and adopt a Final Budget for Fiscal Year 2012; NOW,
THEREFORE,
BE IT RESOLVED BY THE MONROE COUNTY COMPREHENSIVE PLAN LAND
AUTHORITY that the Budget of $13,763,164 in Attachment A be adopted as the Final
Budget for Fiscal Year 2012 and is hereby adopted.
PASSED AND ADOPTED by the Monroe County Comprehensive Plan Land Authority
at a meeting on this 15th day of September 2011.
Chairman Kim Wigington
Vice Chairman Heather Carruthers
Commissioner Sylvia Murphy
Commissioner George Neugent
Commissioner David Rice
(Seal)
ATTEST: MONROE COUNTY COMPREHENSIVE
PLAN LAND AUTHORITY
Mark J. Rosch Kim Wigington
Executive Director Chairman
Approved for Legal Sufficiency
Larry R. Erskine
ATTACHMENT A
MONROE COUNTY LAND AUTHORITY
FY 2012 BUDGET
Budget
FY 2012
Revenues:
Intergovernmental
Property Acquisition in Key West ACSC 1,140,000
Property Acquisition in FL Keys ACSC 1,113,500
Administration 136,500
Cash Carry Forward
Property Acquisition in Key West ACSC 3,295,313
Property Acquisition in FL Keys ACSC 1,566,315
Unreserved 7,195,913
Miscellaneous
Interest Income 40,000
Sale of Land 0
Donation 0
Miscellaneous 0
Mortgage Receivable 0
Less 5% (724,377)
Total Revenues 13,763,164
Appropriations:
Salaries and Benefits 236,000
Operating Expenses 121,500
Capital Outlay
Office Equipment 10,000
Property in FL Keys ACSC 4,575,352
Property in Key West ACSC 3,193,208
ROGO Reserve 3,447,104
Grants and Aid (Mortgages)
Property in FL Keys ACSC 0
Property in Key West ACSC 1,180,000
Reserves
Contingency 500,000
End of Year Cash 500,000
Total Appropriations 13,763,164