CRA Annual Report (FY 2018-19)

Activities Summary

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.

Florida Dept. of Economic Opportunity Special District Accountability Program ID: 1962

Registered Agent Khalid Resheidat
Mailing Address 210 Sams Ave., New Smyrna Beach, FL 32168
Office Address City Manager's Office, City Hall
Telephone (386) 410-2600
Fax (386) 424-2270
E-mail kresheidat@cityofnsb.com
Website www.cityofnsb.com
County Volusia
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

Financials

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

Activities

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
Total $ 99,540