CITY OF ORLANDO
COUNCIL AGENDA ITEM

Items Types:
Hearings/Ordinances/2nd Read 		For Meeting of:
February 10, 2014
District: 3,4,5 From:
Contract ID: Document Number:
Exhibits: Yes On File (City Clerk) : Yes Draft Only: No
Grant Received by City?: No
Subject:
An ordinance of the City of Orlando, Florida, pursuant to section 163.387, Florida Statutes; amending ordinance enacted July 12, 1982, June 18, 1990, October 23, 2000, June 25, 2007 and February 22, 2010, creating a Community Redevelopment Trust Fund for the Downtown Orlando Community Redevelopment Area; amending references to the Community Redevelopment Plan for the Downtown Orlando Community Redevelopment Area to include the Plan Amendment approved by the City Council on January 27, 2014 providing an effective date.
Summary:
The Downtown Orlando Community Redevelopment Area ("Downtown Redevelopment Area") was established by resolution on February 11, 1980. The Downtown Redevelopment Area was expanded on March 29, 1982, and on July 12, 1982 City Council adopted an ordinance creating a trust fund for the deposit therein of tax increment revenues from the Downtown Redevelopment Area ("Trust Fund Ordinance"). In 1990, the Downtown Redevelopment Area was expanded and City Council adopted an ordinance providing for the deposit of tax increment revenues attributed to the expanded areas of the Downtown Redevelopment Area into the Trust Fund. The Trust Fund Ordinance was once again amended in 2000, upon adoption of the 2000 Downtown Outlook as the most current Community Redevelopment Plan for the Downtown Redevelopment Area, in order to amend references in the Trust Fund Ordinance to the "Plan". A 2007 amendment to the Trust Fund Ordinance and previous amendments thereto provided for the deposit of tax increment revenues attributed to the Citrus Bowl expansion area and updated the Trust Fund Ordinance to amend any references to the Plan to specifically included the 2007 amendment to the plan. Lastly, a 2010 amendment to the Trust Fund Ordinance amended references in the Ordinance to the plan to specifically include the 2010 amendment to the Plan. This amendment to the Trust Fund Ordinance amends references in the Ordinance to include the Plan Amendment of January 27, 2014. The public notice of this action required by Section 163.346 and 166.041 (3) (a) was published in the Orlando Sentinel on January 10, 2014 and notices were mailed to all taxing authorities.  City Council approved the first reading of the attached ordinance on January 27, 2014.
Fiscal & Efficiency Data:
Not applicable.
Recommended Action:
Adoption of the attached ordinance and authorization for the Mayor/Mayor Pro Tem and City Clerk to execute the same upon adoption.
Agenda Item attachment(s) on file in the City Clerks Office.
Note: All agenda items must be in the City Clerk's office by Noon Friday, six(6) business days prior to the regular Monday City Council meeting.
Contact:
Approved By:

Department Date and Time
Budget Outside Routing Approval 1/30/2014 9:29 AM
Real Estate and Finance Attorney 1/30/2014 10:31 AM
City Clerk 1/30/2014 1:03 PM
ATTACHMENTS:
Name: Description: Type:
trust_fund_ordinance-2014-revised_for_January_27_Council_meeting.docx Ordinance Backup Material
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