CRA Annual Report FY 18-19
Dimmick Street Affordable Housing Duplex
The CRA participated in the development of two affordable housing units to be owned and operated by the New Smyrna Beach Housing Authority, a government agency. The duplex opened July 2019 and is located at the NE corner of Dimmick & Julia Street in Historic Westside. This incidental expenditure is a small portion of a much larger expenditure in the previous fiscal year (for the purchase of the property) and the current fiscal year (for the primary contribution towards the construction of the duplex following the submission of the required documentation by the Housing Authority).
Mary S. Harrell Black Heritage Roof
This expenditure was the second and final installment in the re-roofing project for the Mary S. Harrell Black Heritage Museum, which is located at 314 N Duss St in Historic Westside and adjacent to Pettis Park.
U.S. 1 Median Improvements
This expenditure is for an incidental cost in the planning of the US 1 Median Improvement Project.
Jefferson & Duss Street Parking Lot
This expenditure total is for costs related to the development of a public parking lot for Pettis Park, which is located in the Historic Westside. The parking lot will be located at the SE corner of Jefferson & Duss Street.
To what extent has the CRA achieved the goals laid out in its plan?
Based on expenditures to date in the Capital Improvements Plan:
- Housing: Approximately 50% of the goal has been reached in the provision of new affordable housing units. It is anticipated that if the second duplex on Dimmick St and the first phase of the Greenlawn re-development moves forward as planned, then 100% of the goals will be reached.
- Infrastructure (including Transportation): Approximately 28% of the goals have been reached primarily through expenditures for the Florida Department of Transportation’s US 1 & Canal Street Intersection Improvements project, the parking lot for Pettis Park which is in development, and expenditures for re-roofing and fencing at the Mary S. Harrell Black Heritage Museum.
- Economic Development: There have been no expenditures in this category. City staff anticipates there will be expenditures as there is a great need in this category, but the needs can best be addressed with a revision in the Volusia County Delegation of Authority resolution.
|Registered Agent||Khalid Resheidat|
|Mailing Address||210 Sams Ave., New Smyrna Beach, FL 32168|
|Office Address||City Manager's Office, City Hall|
|Local Governing Authority||City of New Smyrna Beach|
|Date Established||Tuesday, Feb. 24, 2015|
|Creation Documents||Resolution No. 05-15|
|Board Selection||Identical to Local Governing Authority|
|Authority to Issue Bonds||Yes|
|Revenue||Tax Increment Financing|
|Most Recent Update||Tuesday, Mar. 31, 2020|
|Total number of activities completed||2|
|Total number of activities started||2|
|Current Year Taxable Value in CRA||$ 295,188,339|
|Actual Expended Increment Revenue||-|
|Base Year Taxable Value in CRA||$ 190,264,372|
|Current Year Tax Increment Value||$ 104,923,967|
|Total amount expended for low & middle income affordable housing||$ 429|
|Dimmick Street Affordable Housing Duplex (completed)||$ 429|
|Mary S. Harrell Black Heritage Museum Roof (completed)||$ 30,413|
|U.S. 1 Median Improvements (started)||$ 567|
|Jefferson & Duss Street Parking Lot (started)||$ 68,131|