R25-246 RESOLUTION NO. R25-246
1
2 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
3 BOYNTON BEACH, FLORIDA, RATIFYING THE 2025-2026
4 ANNUAL BUDGET FOR THE BOYNTON BEACH COMMUNITY
5 REDEVELOPMENT AGENCY; AND FOR ALL OTHER PURPOSES.
6
7 WHEREAS, the Boynton Beach Community Redevelopment Agency was created by
8 Ordinance of the City Commission pursuant to Chapter 163, Florida Statutes. The
9 Redevelopment Agency has been designated a Florida Special District; and
10 WHEREAS, Florida Statutes 189.016 provides that the proposed budget of a dependent
11 special district must be contained within the general budget of the local governing authority to
12 which it is dependent and be clearly stated as the budget of the dependent district. However,
13 with the concurrence of the local governing authority, a dependent district may be budgeted
14 separately. The dependent district must provide any budget information requested by the local
15 governing authority at the time and place designated by the local governing authority; and
16 WHEREAS, a local governing authority may, at its discretion, review the budget or tax
17 levy of any special district located solely within its boundaries; and
18 WHEREAS, the City Commission, upon the recommendation of staff, has deemed it in
19 the best interests of the city's citizens and residents to ratify the adoption of the Boynton Beach
20 Community Redevelopment Agency's 2025-2026 annual budget.
21
22 NOW,THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF BOYNTON
23 BEACH, FLORIDA, THAT:
24 SECTION 1. The foregoing "Whereas" clauses are hereby ratified and confirmed as
25 being true and correct and are hereby made a specific part of this Resolution upon adoption.
26 SECTION 2. The City Commission of the City of Boynton Beach, Florida, does hereby
27 ratify the adoption of the Boynton Beach Community Redevelopment Agency's 2025-2026
28 annual budget, in form and substance similar to that attached as "Exhibit A."
29 SECTION 3. This Resolution shall take effect in accordance with law.
30 [SIGNATURES ON THE FOLLOWING PAGE]
31
RESOLUTION NO. R25-246
32 PASSED AND ADOPTED this 18th day of September 2025.
33 CITY OF BOYNTON BEACH, FLORIDA
34 YES NO
35
36 Mayor— Rebecca Shelton
37
38 Vice Mayor— Woodrow L. Hay
39
40 Commissioner—Angela Cruz
41
42 Commissioner— Aimee Kelley
43
44 Commissioner— Thomas Turkin
45
46 VOTE
47 ATTEST:
48
49
50 /.At /
51 Mayl-e Jesus, M MMC Rebecca Shelton
52 City CI / Mayor
53
54 gOYN.P4' APPROVED AS TO FORM:
PO
551�0:�oR
56 (Corporate Seal)
SEAL = A
57 tINCORPORATED `, //16
4ti1920
58 � • Shawna G. Lamb
59 FCO City Attorney
: ,,ts
FISCAL YEAR
202 5 ...._ 2026
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BOYNTONT
BEACH
COMMUNITY REDEVELOPMENT AGENCY
CRA FUNDING/USES FY25/26
Tax Increment Revenue 26,066,966
Boynton Harbor Marina Fuel Dock& Slips Revenue 1,300,000
Total Revenue 27,366,966
Debt&Operating Expenses
Debt Service(Last Payment) 2,319,093
Operating Expenses 4,692,054 Approx. 18%of TIRFA
Marina 1,300,000
Sub-Total Debt&Operating Expenses 8,311,147
Tax Increment Revenue Funding Agreement(TIRFA)
Payments-Contractual Obligations
500 Ocean (75%Yrs 1-4; 50% Yrs 5-7;25%Yrs 8-10) Year 70. 444,621
Wells Landing Apartments LLC (15 years)-Remaining
balance$1,532,523** Year 10. 105,757
Townsquare Funding (until FY 2044-2045) remaining
balance = $50,400,000 Year 70. 3,550,000
Ocean One- (12 Years) not to exceed $9,000,000
The Pierce (15 Years) not to exceed $7,000,000
The Villages (12 Years) Not to exceed $9,100,000
Townsquare -Time Equities South Parcel (10 Years)
not to exceed $20,000,000
Townsquare - Time Equities North Parcel (7 Years) not
to exceed $15,200,000
City View Apartments - Beginning FY 26-27 to FY 29-
30 Not to exceed $3,750,0001
Sub-Total TIRFA Payments 3,994,621
Remaining Project Fund Budget for Allocation
(Revenue Debt Service.Operating & TIRFA) I 15,061,198
"*budgeted in FY 2425
Millage changed to 7.75
BBCRA FISCAL YEAR 2025-2026 PROJECT FUND WORKSHEET
AllocatIon Amount $ 15,061,198
Project Fund I ine kern Allocation
CRA Plan District Current Projects: Estimated Total
FY 2425 Rollover Balances CRA Board Proposed FY 25/26 (including any Rollover as of
as of 922025 Project Fund Allocations 922025)
District Wide Adaptive Reuse for Historic Properties $ 300,000 $ 1,050,000 $ 1,350,000
District Wide Business Development 8 Promotions I$ 175,955 $ 434,045 $ 610,000
District Wide Business Promotional Marketing I$ 130,000 4,$ 88,605 $ 218,605
District Wide COBB-BBPD Camera's(10)(CRA) I$ - $ 6%000 $ 60,000
District Wide COBB-Beautification Technician(21(CRA) I S -I $ 147.000 $ 147,000.,
District Wide COBB-Code Enforcement Officers(4)(CRA) I$ -I $ 308.965 _$ 308965
District Wide COBB-Enalneer!Prolect Manager(CRA) I$ 160.000 $ - $ 160,000
District Wide COBB-Historic Planner I S $ 100,000 $ 100,000
District Wide Commercial Economic Redevelopment Grants I$ 344,219 $ 275,781 $ 620,000
District Wide Contingency I$ 200,000 $ 25,248 $ 225,248
District Wide CRA Plan I S 300,000 $ • $ 300,000
District Wide Development Protect Related Legal Services I$ - $ 280,000 $ 280,000
District Wide Neighborhood Officer Program(NOPs)7th year of program I$ -I $ 1,213,870 $ 1,213,870
District Wide Parking Garage I$ 2,000,000 l
500,000 $ 2.500,000
District Wide Professional Development Services I S 210,795 $ 128,745 $ 339,540
District Wide Property Acquisition(HOB Grocery Store$2.5 mill I S 10,830,434
$ 2,220,588 $ 13,051,000
District Wide Ride Share $ $ 450,000 $ 450,000
District Wide Site Work,Demolition 8 Environmental $ 197,355 $ 241,645 $ 439,000
Downtown D,,tr,rt Marina ERM Monitoring Wens and Potential Remediation �$ 263,913 $ 36,087 $ 300 000
Downtown[Wort Marina Seawall $ 3,250,000 $ 250,000 $ 3,500,000
Dnwntown D,•.tnrt Master ILA-4th Street Streetscape I$ - $ 250.000 $ 250,000
Downtown D,stoct Master Ica-Federal Highway Crosswalk I$ - $ 600.000 $ 600,000
Downtown Dtr,ct Master ILA-Pence Park Design&Permit and Construction $ 400,000 $ 4,000,000 $ 4,400,000
Downtown District Master ILA-Senior Center Design I$ 100.000 $ - $ 100,000
Fetieral Highway Master ILA-Neighborhood Security Gate I $ 50.000 $ 50,000
Federal Highway Master ILA-Entry Feature Signage I$ -I $ 50,000 $ 50,000
Federal Highway Master ILA-Federal Highway Streetscaoc I$ 100,000 $ 350,000 $ 450,000
Federal Highway Master ILA-Harvey Oyer Park Pier Design 8 Permit I$ 100,000 $ 350,000 $ 450,000
Federal Highway Master ILA-Historic Woman's Club of BB I$ 500,000 $ - $ 500,000
Federal Highway Master ILA-Jaycee Park Master Design I$ 100,000 $ 450,000 $ 550,000
Federal Highway Master ILA-Ocean Avenue Bridge Lighting I S 100,000 $ - $ 100,000
Boynton Beech Blvd Master ILA-Inn at Boynton Beach Blvd Demolition $ 500,000 $ 500,000
Cultural Master ILA-Centennial Park Design and Construction I$ 500,000 I $ 250,000 $ 750,000
Cultural Master ILA-Town Square Hardening(Bollards) I $ 200,000 $ 200,000
Heart of Boynton Master ILA-Cottage District Road Improvement Design $ 200,000 $ - $ 200,000
Master ILA-MLK Jr.Blvd Streetscape Design(5250k),MLK Streetscape
Heat of Boynton (5550k) $ 800,000 $ - $ 800,000
Heart of Boynton Local Match for stormwater $ 250,000 $ - $ 250,000
Boynton Beach Blvd Property Maintenance for Post Office 217 Seacrest $ 150,000 $ - $ 150.000
Cultural Splash Pad Planning and Design $ 50,000 $ 50,000
Federal Highway MLK Entry Feature Construction ($ 199,359 $ 150.641 $ 350,000
I I$ 21,862,030 $ 15,061,198 $ 36,923,228
ALLOCATION BALANCE REMAINING $ 0
Boynton Beach CRA
General Fund -Budget Summary
• FY 2024-2025 2025-2026 vs.Prior Year
FY 2025-2026 Original Amended Increase/(Decrease)
REVENUES Budget Budget Budget Amount I %
Tax Increment Revenue(TIF) $ 26,066,966 (i) $ 24,279,354 $ 24,279,354 $ 1,787,612 7%
Marina Rents&Fuel Sales $ 1,300,000 $ 1,300,000 $ 1,300,000 $ - 0%
Budget Amendment#1 3/20/2025 $ 2,118,706
Total Revenues $ 27x366,966 $ 25 579 354 I $ 27 698 060 I $ (331 094). -1%
'EXPENSES _
CRA Board&Advisory Board $ 64,500 (ii) $ 64,300 $ 64,300 $ 200 0%
Administration&Operations
Executive Department $ 640,200 $ 621,490 $ 621,490 $ 18,710 3%
Finance Department $ 365,634 $ 313,955 $ 313,955 $ 51,679 14%
Planning&Development Department $ 304,894 $ 258,309 $ 258,309 $ 46,585 15%
Marketing&Business Development $ 315,260 $ 285,455 $ 285,455 $ 29,805 9%
Business Development Department $ 217,666 $ 194,421 $ 194,421 $ 23,245 11%
Taxes,Employee Benefits,Compensated Absences,
Workers Comp $ 773,000 $ 773,000 $ 773.000 $ - 0%
Sub-Total $ 2,616,654 $ 2,446,631 $ 2,446,631 $ 170,024 6%
Other General Fund Expenses
Insurances $ 415,769 $ 400,494 $ 400,494 $ 15,275 4%
Professional Services $ 345,000 $ 339,000 $ 339,000 $ 6,000 2%
Buildings,Grounds,Maintenance $ 934,000 $ 917,000 $ 917,000 $ 17,000 2%
Information Technology $ 107,460 (iii) $ 102,860 $ 102,860 $ 4.600 4%
Contingency $ 208,671 (iv) $ 100,000 $ 100,000 $ 108,671 52%
Sub-Total $ 2,010,900 $ 1,859,354 $ 1,859,354 $ 151,546 8%
Boynton Harbor Marina Fuel Dock&Slips Expenses $ 1,300,000 $ 1.300.000 $ 1.300.000 $ - 0%
Total General Fund Operating $ 5,992,054 $ 5,670,284 $ 5,670,284 $ 321,770 5%
Operating Transfers Out
Transfer to Debt Service Fund $ 2,319,093 $ 2,317,425 $ 2,317,425 $ 1,668 0%
Transfer to Project Fund $ 19,055,819 $ 17,591.645 $ 19,710,351 $ (654,532) -3%
Sub-Total $ 21,374,912 $ 19,909,070 $ 22,027,776 $ (652,864) -3%
Total General Fund Expenses&
Transfers Out $ 27,366,966 $ 25,579,354 I $ 27„698,060 $ (242154) -1%
(i)Property values in CRA up 7%
(ii)Increase Florida League of Cities
(iii)Increase in Software
(iv)Increase to Contingency
City changed millage to 7.75
Boynton Beach CRA
Project Fund - Budget Summary
•
2025-2026 2024-2025 2025-2026 vs.Prior Year
Original I Amended Increase/(Decrease)
[FUNDING SOURCES Budget Budget 1 Budget Amount I °k
1.Rollover FY 2024-2025(see Budget Overview) $ 21,862,030 $ 8,187,298 $ 8,187,298 $ 13,674,732 NIA
$ -
2.Transfers in from General Fund $ -
Other Financing Sources/Transfers In $ 19,055,819 $ 17,591,645 1 17,591,645 $ 1,464,174 8%
$ -
3.Other Revenue/Financina Sources: $ -
1.Budget Amendment#1 3/20/2025 $ 2.118.706 $ 12,118.706i_
Total FundinLSources/Revenues&Transfers In S 40917 849 $ 25,778943 S 27897,649 S 13,020,200 47%
•
2025-2026 2024-2025 2025-2026 vs.Prior Year
Original I Amended increase/(Decrease)
(EXPENSES Budget Budget I Budget Amount I %
Professional&Other Expenses
C. $ 225,248 $ 200,000 $ 200,000 $ 25,248 13%
Professional Services $ 1,505,505 $ 1,008,150 $ 1,008,150 $ 497,355 49%
Legal Services $ 280,000 $ 260.000 $ 260,000 $ 20,000 8%
Sub-Total $ 2,010,753 $ 1,488,150 $ 1,468,150 $ 542,603 37%
Capital Outlay
Property Purchases $ 13,051,000 $ 7,281,639 $ 8,100,345 $ 4,950,655 61%
BBWC Capital Improvements/Marina Seawall $ 3,800,000 $ 3,733,613 $ 3,733,613 $ 66,387 2%
Site Work&Demolition Fees $ 439,000 $ 257,141 $ 257,141 $ 181,859 71%
Infrastructure&Streetscape $ 18,000,000 $ 9,765.750 $ 10.665.750 $ 7,334,250 69%
Sub-Total $ 35,290,000 $ 21,038,143 $ 22,756,849 $ 12,533,151 55%
Economic Development&Housing Rehab Program
Economic Development Grant Programs $ 620,000 $ 600,000 $ 1,000,000 $ (380,000) -38%
Marketing Program $ 218,605 $ 218,604 $ 218,604 $ 1 0%
DIFA-Economic Development $ 444,621 $ 548,468 $ 548,468 $ (103,847) -19%
Sub-Total $ 1,283,226 $ 1,367,072 $ 1,767,072 $ (483,846) -27%
Protects&Programs
Community Police Program/BBPD Cameras $ 1,273,870 $ 858,406 $ 858,406 $ 415,464 48%
Ride Share $ 450,000 $ 400,000 $ 400,000 $ 50,000
Business Development&Promotions $ 610,000 $ 647.172 $ 647.172 S (37,172) -6%
Sub-Total $ 2,333,870 $ 1,905,578 $ 1,905,578 $ 428,292 22%
Total Project Fund Expenses $ 40 917 849 $ 25,778,943 $ 27 897 649 $ 13 020,200 47%
Boynton Beach CRA
Debt Service Fund - Budget Summary
•
FY 2025-2026 FY 2024-2025
Original Amended
Dept. # Funding Source Budget Budget Budget
49900 Transfers In from
General Fund $ 2,319,093 $ 2,317,425 $ 2,317,425
Expenses
Series 2012 (formerly Series 2004&Series 2005A) - PNC Bank
59800-814 Principal $ 1,530,000 $ 1,487,000 $ 1,487,000
59800-824 Interest $ 39,168 $ 77,235 $ 77,235
Sub-Total $ 1,569,168 $ 1,564,235 $ 1,564,235
Series 2015 (formerly Series 2005B) - BB&T
59800-815 Principal $ 725,000 $ 705,000 $ 705,000
59800-826 Interest $ 23,925 $ 47,190 $ 47,190
Sub-Total $ 748,925 $ 752,190 $ 752,190
59800-830 Financial Agent Fees $ 1,000 $ 1,000 $ 1,000
Total Debt Service
Expenses $ 2,319,093 $ 2,317,425 $ 2,317,425
FY 2026 COMPREHENSIVE ANNUAL BUDGET-CRA NEIGHBORHOOD POLICING PROGRAM
Category FY 2025 QTY FY 2026 Notes
Personnel
Officer Salaries&Incentives• 442,098 4 Salary,Education Incentive
Officer Benefits-Pension 244,598 4 Pension
Officer Benefits 82,116 4 Healthcare,Dental,Vision,FICA
Officer Overtime 40,000 4
Proposed Sergeant Salary&Incentive - 1 Salary,Education Incentive(AVG)
Overtime I - I 1 Overtime
Total Personnel Costs $808 :12 $1,163,349
Operating Expenses
Cell Phones Service Plan 3,500 4.75 Cell Phones for CRA Officers
Office Supplies/Misc Supplies 2,500 Office Supplies(incl printer/copier)
Office Electric,Cable/Internet,water/sewage 12,000 12 Monthly Operating Cost
Office Space Monthly Maintenance 2,000 12 AC Filters/Repairs etc.
Office Cleaning 2,000 12 City Cleaning Crew
Uniform 2,500 4.75 Uniforms,belts
Community Events/Promotions 6,000 1 Youth Programs
Training 8,500 4.75 CPTED,STEP academy
Total Operating Expense $39,000 $45,519
Misc.Equipment-As needed 4,000 1 Misc.Equipment
Volcanic 2024 Approach Patrol Bike 3,598 2
Volcanic Frame Bike Patrol Bags 716 4
Niterider Digital Patrol LED Police Bike Uight 2,000 4
Niterider Police Tail Light 280 4
Total Equipment Costs $10,594 $5,000
Total Proposed Program Expenses $858,406 $1,213,868
IFY 2026 ILA Amount $1,213,868
I
NOTE:All amounts provided by Police Department with exception of Contingency and ILA amount for FY 2025-2026
*salary and Benefits are subject to change as a result of new FY 2026 PBA Contract.
Boynton Beach CRA
Debt Service Fund - Budget Summary
FY 2025-2026 FY 2024-2025
Original I Amended I
Dept.# Funding Source Budget Budget Budget
49900 Transfers In from
General Fund $ 2,317,425 $ 2,317,425 $ 2,317,425
Expenses
Series 2012 (formerly Series 2004 &Series 2005A)-PNC Bank
59800-814 Principal $ 1,530,000 $ 1,487,000 $ 1,487,000
59800-824 Interest $ 39,168 $ 77,235 $ 77,235
Sub-Total $ 1,569,168 $ 1,564,235 $ 1,564,235
Series 2015 (formerly Series 2005B) - BB&T
59800-815 Principal $ 725,000 $ 705,000 $ 705,000
59800-826 Interest $ 23,925 $ 47,190 $ 47,190
Sub-Total $ 748,925 $ 752,190 $ 752,190
59800-830 Financial Agent Fees $ 1,000 $ 1,000 $ 1,000
Total Debt Service
Expenses $ 2,319,093 $ 2,317,425 $ 2,317,425
BOYNTON BEACH CRA
TAX INCREMENT REVENUE ("TIR") ESTIMATE - FY 2025-2026
As of: September 9, 2025
1. ASSESSED VALUATIONS
V
FY 2024-2025 FY 2025-2026
ASSESSED VALUES $ 2,405,416,999 $ 2,572,358,368 (a)
Estimate
As of: 6/26/2025
Chg.from Prior Year $ 166,941,369
6.9%
2. TAX INCREMENT REVENUE -ESTIMATED FOR NEW BUDGET YEAR
•
FY 2024-2025 FY 2025-2026 Estimates
Assessed Values $ 2,405,416,999 $ 2,572,358,368
Less Base Year Value $ 309,821,849 309,821,849
TIR Taxable Value $ 2,095,595,150 2,262,536,519
95%of Difference $ 1,990,815,393 $ 2,149,409,693
(Per Florida Statutes
Chapter 163.387(1)(a) Assumptions
Redevelopment Trust Fund) No Millage Change
City&County
Millaqe Rates
City 7.8000 7.7500
County 4.5000 4.5000
%of
Tax Increment Revenue Total TIR
City $ 15,528,360 $ 16,657,925 63%
County $ 8,958,669 $ 9,672,344 37%
Sub-Total $ 24,487,029 $ 26,330,269
1.0%for True-Up $ - $ 263,303 1.0%for True-Up
Net TIR $ 24,487,029 $ 26,066,966
A
Budgeted
Change from Prey.Year
Amount $ 1,579,937
cyo 6.5%
(a) The Property Appraiser will issue revisions to the CRA's taxable values at the end of
June 2025, and in early October 2025, with a final certified tax value in mid-2026.
The CRA's budgeted tax increment revenue will be based on the first, or May 28, 2026,
"Estimates of Taxable Values"with a 1°/0 deduction for the final Property Appraiser
certified tax adjustments ("true-up")in mid-2026
(b) City changed millage to 7.7500
Boynton Beach CRA Organization Chart FY 2025-2026
CRA Board
\ J
I1
Executive
e- 1 Director
Administrative I
Assistant I
~ ) Assistant
Director
I
Finance
Director
\ _ /
Development \ Accounting Pi \ / Business `
Services Grants and Development
Project Manager Finance •--
Manager Manager Manager
/ ` -, ' J
I
Development Business \ Social Media &\
Services
Specialist Development Communications
(unfunded) / \ J `Coordinator Specialist