CRA approves minutes, accepts FY2024 audit, waives $566,629.10 TIF penalty and accepts annual report

The Jacksonville Beach Community Redevelopment Agency on March 24 approved minutes, accepted its FY2024 financial statements and independent auditor’s report, voted to waive a $566,629.10 penalty for a late tax-increment financing (TIF) payment, and accepted the agency’s FY2024 annual report.

Audit and finances: Ashley, finance staff, summarized the FY2024 financial statements and said auditors issued an unmodified (clean) opinion when they presented to city council on March 3. She told the CRA the fund balance at the end of FY2024 was $44,600,000 and that the balance is restricted to projects underway or beginning in the near term. “We received a clean or unmodified audit opinion,” Ashley said, and staff recommended acceptance of the audit.

The CRA approved the audit on a voice/roll-call vote.

Waiver of late-payment penalty: The agency considered whether to waive or enforce a $566,629.10 penalty stemming from the City of Jacksonville’s late payment of increment revenues into the redevelopment trust fund. Ashley told the board that state statutes require TIF monies to be paid by January 1 (staff interprets the deadline as December 31 because banks are closed on Jan. 1) and that the Jacksonville payment arrived between January 1 and January 3; staff said conversations with the county indicated the delay appeared to be an honest mistake.

Staff and administration recommended waiving the penalty but noted that the CRA has the authority to grant the waiver under state law. After discussion — including a board member’s request that taxing authorities add procedural checks to avoid future delays — the CRA voted to remove the penalty. Ashley told members the late funds were received and that any interest would be de minimis.

Annual report and statutory posting: Taylor told the board the CRA’s FY2024 annual report was prepared in accordance with Section 163.371, Florida Statutes, and must be posted by March 31 to the agency website and submitted to the taxing authorities and state. The board approved the annual report and staff said the report and the audit will be posted immediately.

Other procedural matters: The Feb. 24, 2025 meeting minutes were approved by roll call at the start of the meeting.

Votes at a glance (recorded roll-call votes reported at meeting): - Approval of meeting minutes (Feb. 24, 2025): Approved (roll call: Sydney Talcott — yes; Thad Mosley — yes; Gary Paytel — yes; Megan Edwards — yes; Kevin Myers — yes). - Acceptance of FY2024 financial statements and independent auditors report: Approved (roll call: Sydney Talcott — yes; Thad Mosley — yes; Gary Paytel — yes; Megan Edwards — yes; Kevin Myers — yes). - Waiver of $566,629.10 penalty for late TIF payment by City of Jacksonville: Approved (roll call: Sydney Talcott — yes; Thad Mosley — yes; Gary Paytel — yes; Megan Edwards — yes; Kevin Myers — yes). Staff recommended waiver; funds were received and staff indicated any interest would be de minimis. - Award of mural to artist Lauren Close (see separate item): Approved (roll call: unanimous). - Acceptance of CRA FY2024 annual report (Section 163.371, Florida Statutes): Approved (roll call: unanimous).

No formal motions to refer items for study or to withhold approval were recorded during these agenda items.