CRA Update December 6

The Cedar Key City Commissioners, convening at City Hall December 7 as the Community Redevelopment Agency (CRA), heard updates from CRA Director Gregory Lang and voted unanimously on the evening`s only two action items.

The CRA`s first action item was passage of a resolution adopting the CRA budget for FY 2010/2011. The CRA budget had been debated and approved some weeks earlier. Tuesday night`s resolution passed by roll call vote, 5 - 0.

Commissioner Heath Davis recused himself from the next discussion and vote, formal consideration of a request from Sun Trust Bank, the issuer of the city`s CRA bond, that the city move its bond balances to Sun Trust Bank. At present, the city`s CRA funds are deposited with Drummond Community Bank and Perkins State Bank. Commissioner Davis is an officer of Drummond Bank.

Director Lang emphasized that he didn`t understand the Sun Trust Bank request to convey any lack of faith the city`s management of CRA funds; in fact, Lang recently hosted a Sun Trust representative`s visit to Cedar Key and upbeat tour of CRA projects.

Nonetheless, the four remaining commissioners were quick to approve a motion that the city`s CRA funds remain on deposit with the Drummond and Perkins banks.

Earlier in the meeting, Director Lang reported on the status of on-going CRA projects (streets and utilities work currently taking place on Second Street, and energy efficiency improvements to city property currently out for bid under an Energy Efficiency Conservation Block Grant).

Lang reported as well on the virtual completion of the city`s new Welcome Center (former Creswell House) and of the Anchor Hole Boat Ramp and noted that a final site plan for the Outside Boat Ramp Project would be presented to the Commissioners for review in January.