UPDATE ON NEW LEGISLATION AFFECTING COMMUNITY REDEVELOPMENT AGENCIES PASSED THE LEGISLATURE THIS SESSION.  THE FLORIDA REDEVELOPMENT ASSOCIATION WORKED HARD TO HELP SHAPE THE BILL AND MOSTLY IT WAS A POSITIVE OUTCOME, PASSING NEW ACCOUNTABILITY PROVISIONS DESIRED BY THE LEGISLATURE AND YET STILL ALLOWING CRA’S TO EFFECTIVELY ACCOMPLISH OUR MISSION: 

• REQUIRES ETHICS TRAINING FOR CRA BOARD MEMBERS;

• REVISES THE ANNUAL REPORTING REQUIREMENTS FOR AGENCIES;

• ALLOWS FOR EXTENSIONS OF CRA TERMS BEYOND 2039;

• LIMITS THE EXTENSION OF OUTSTANDING BONDS’ MATURITY BEYOND 2039;

• UPDATES STATE AGENCY REQUIREMENTS WHEN DECLARING INACTIVE CRAS;

• ALLOWS THE AMOUNTS OF FUNDING BY EACH TAXING AUTHORITY TO A CRA TRUST FUND TO BE LOWERED TO 50%;

• CRA BUDGET/AMENDMENTS SHALL BE SUBMITTED TO THE COUNTY 10 DAYS AFTER APPROVAL;

• REVISES THE LIST OF ALLOWED EXPENDITURES BY A CRA;

• ALLOWS END OF FISCAL YEAR CARRY OVER OF PROJECT FUNDS BEYOND THE 3 YEAR LIMITATION;

• REVISES AUDIT REQUIREMENTS;

• REQUIRES THE AUDIT TO ACCOMPANY THE ANNUAL FINANCIAL REPORT UNDER 218.32;

• EFFECTIVE OCTOBER 1, 2019