Agenda 03-18-261.Call to Order
2.Pledge of Allegiance
3.Roll Call
4.Agenda Approval
5.Public Comment
6.Consent
A.CRA Advisory Board Meeting Minutes - February 18, 2026
7.Old Business
A.Pending Assignment No. 1 - Discussion and Consideration of New Assignments
from the CRA Board assigned at the February 13, 2024 CRA Monthly Board Meeting
Regarding Property Acquisition
B.Pending Assignment No. 2 - Discussion and Consideration of New Assignments
from the CRA Board Assigned at the January 14, 2025 CRA Monthly Board Meeting
C.Pending Assignment No. 3 - Discussion and Consideration of New Assignments
from the CRA Board Assigned at the February 10, 2026 CRA Monthly Board
Meeting
8.New Business
9.Future Agenda Items
10.Adjournment
CRA Advisory Board Meeting
Wednesday, March 18, 2026 - 6:00 PM
City Hall Chambers, 100 E. Ocean Avenue
561-737-3256
AGENDA
A. Additions, Deletions, Corrections to the Agenda
B. Adoption of Agenda
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NOTICE
THE CRA SHALL FURNISH APPROPRIATE AUXILIARY AIDS AND SERVICES WHERE NECESSARY TO AFFORD AN
INDIVIDUAL WITH A DISABILITY AN EQUAL OPPORTUNITY TO PARTICIPATE IN AND ENJOY THE BENEFITS OF A
SERVICE, PROGRAM OR ACTIVITY CONDUCTED BY THE CRA. PLEASE CONTACT THE CRA, (561) 737-3256, AT
LEAST 48 HOURS PRIOR TO THE PROGRAM OR ACTIVITY IN ORDER FOR THE CRA TO REASONABLY
ACCOMMODATE YOUR REQUEST.
ADDITIONAL AGENDA ITEMS MAY BE ADDED SUBSEQUENT TO THE PUBLICATION OF THE AGENDA ON THE CRA'S
WEBSITE. INFORMATION REGARDING ITEMS ADDED TO THE AGENDA AFTER IT IS PUBLISHED ON THE CRA'S
WEBSITE CAN BE OBTAINED FROM THE CRA OFFICE.
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•Attachment I - February 18, 2026 CRAB Meeting Minutes
CRA ADVISORY BOARD MEETING OF: March 18, 2026
CONSENT
AGENDA ITEM 6.A
SUBJECT:
CRA Advisory Board Meeting Minutes - February 18, 2026
SUMMARY:
See attached minutes.
CRAB RECOMMENDATION:
Approve the February 18, 2026 CRA Advisory Board meeting minutes.
ATTACHMENTS:
Description
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CRA ADVISORY BOARD MEETING OF: March 18, 2026
OLD BUSINESS
AGENDA ITEM 7.B
SUBJECT:
Pending Assignment No. 2 - Discussion and Consideration of New Assignments from the CRA
Board Assigned at the January 14, 2025 CRA Monthly Board Meeting
SUMMARY:
At the CRA Board Meeting on January 14, 2025, the CRA Board approved the following tasks
be assigned to the CRA Advisory Board (CRAB):
1. Investigate specifics including locations for the splash pad in the Cultural District.
On November 10, 2025, the CRAB presented their ideas before the CRA Board for the splash
pad, including locations at both Pence Park and Sara Sims Park, and suggested adding an art
feature the Cultural District location to activate the space both day and night (see Attachment
I).
2. Continue discussion and research ideas/names for renaming streets (no longer need to
discuss per CRA Board direction at December 9, 2025 Meeting).
3. Research and investigate opportunities to honor the two (2) Heisman Trophy winners that
are from Boynton Beach. Examples include statutes/monuments and street renaming.
The Board has previously discussed ways to honor the two (2) Heisman Trophy winners
including the following:
A. An event with sponsors, vendors and include young athletes
B. Renaming or street dedication
C. Proclamation or day designation
D. Mural or Statutes.
On October 15, 2025, William Harper volunteered to prepare a presentation on the ways to
honor the two (2) Heisman Trophy winners. At the November 19, 2025 meeting, the Board
discussed the draft presentation on the Heisman Trophy winners with the following ideas:
Tribute committee with youth (football players) as members,
Involve foundations of the players
Fishing tournament
Renaming of a park - Dewey Park to Heisman Square
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•Attachment I - Final CRA Presentation on Splash Pad/Water Feature
•Attachment II - Draft Presentation on Honoring Heisman Heroes
•Attachment III - 2016 Redevelopment Plan
•Attachment IV - CRAB CRA Plan Recommendations
At the December 17, 2025 meeting, the Board continue discussing additional ways to honor
the two (2) Heisman Trophy winners with possible locations including Ezell Hester Jr.
Community Park, Dewey Park, the site of the demolished Inn at Boynton and future
development sites.
At the January 21, 2026 meeting, the Board continue discussing additional ways to honor the
two (2) Heisman Trophy winners with Ms. Lopresto volunteering to take over the Heisman
Trophy presentation preparation. Ms. Troyanowski gave an update on the Pence Park splash
pad project.
At the February 18, 2026 meeting, the Board reviewed the updated presentation discussing
additional ways to honor the two (2) Heisman Trophy winners, and made some suggestions
for the murals and signage (see Attachment II). The Board also suggested sponsorship as a
way to fund the projects.
The Board will plan to finalize the presentation discussing additional ways to honor the two (2)
Heisman Trophy winners at the March 18, 2026 meeting.
4. Recommendations for changing or inclusion of possible historic district or way to
incorporate historic preservation within our CRA Plan (see Attachments III and IV).
When matters are assigned to the CRAB Board, reliance on staff should be minimized to the
extent possible. Individual members of CRAB may not assign work to the CRA or City staff
members. Research by the members of the Advisory Board should be done independently
and with minimal support from the CRA or City staff.
Once the assignment is complete and the CRAB is ready to present a report to the CRA or
City Commission, the CRAB Board shall submit their report to CRA staff or the City Clerk for
publishing on the next available agenda.
FISCAL IMPACT:
To be determined.
CRA PLAN/PROJECT/PROGRAM:
2016 Boynton Beach Community Redevelopment Plan
CRAB RECOMMENDATION:
To be determined.
ATTACHMENTS:
Description
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CRA ADVISORY BOARD
PENCE PARK | CULTURAL DISTRICT WATER
FEATURE
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INTRODUCTION
In alignment with the mission of the CRA to
“create a vibrant downtown core and
revitalize neighborhoods” we are asking for:
-Splash Park as part of the Design for
Pence Park - the Downtown District
-A Distinct & Artistic water feature as a
central focal point of the Cultural District
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PENCE PARK
SPLASH PARK
DOWNTOWN DISTRICT
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SPLASH PARKS: WHAT ARE THEY?
Zero-Depth Splash parks can be small or epic
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PENCE PARK RECOMMENDATION
Splash parks tend to be vibrant gathering places that both build community +
increase the value of surrounding property. This increased presence of parents &
children also has the opportunity to reduce crime. It will increase activation by
attracting multiple age ranges to Pence Park.
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SPLASH PARKS: GAP ANALYSIS
Boynton Beach Small Splash pad at Barrier Free Park
Boca Raton Patch Reef Park
Delray Beach Catherine Strong Splash Park
Lake Worth John Prince Memorial (operated by PBC)
Our neighbors have dedicated, large splash parks that draw in residents from
surrounding cities:
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PENCE PARK RECOMMENDATION
●Shade
●Interactive Water Play at lower
heights (For smaller children)
●Inclusion of Color & Art Features
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PENCE PARK RECOMMENDATION
●Benches for Parents
●Grass area for picnics (Artificial
turf should be considered)
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PENCE PARK RECOMMENDATION
●Fenced in (At the very least,
one way in one way out)
●For weekends or busy times,
consider the option for a food
truck to park closeby
●Bathrooms
●Security, specifically cameras
that link to Police real time
crime center
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What do residents say about a splash park?
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Additional Considerations
●Design: Ensuring community input
during this process
●Implementation Cost
●Healthy Water Systems
●Maintenance costs at $15-$25k
per year
●Safety is critical
○Good Parking
○Well Lit
○Safe Bathrooms
Optimistic Realistic Worst Case
$400-$600k $750-$950k $1,000,000+
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WATER FEATURE
CULTURAL DISTRICT
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WHY A WATER FEATURE?
Boynton Beach lacks a distinct artistic feature in our
cultural district, the heart of our city.
Water makes sense for our identity as a city.
Water features are memorable & attract crowds.
People will stay longer, increasing the hours of
activation of the cultural district, invigorating the
economy.
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CULTURAL DISTRICT: ART INSTALL
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CULTURAL DISTRICT: ART INSTALLATION
Recommendations for Water Feature:
●Partner with artists to double as
art installation
○Budget can come from both
CRA & Art
●Consider Fountains with LED
lights for nighttime distinction
●Fountains will not require a
bathroom installation
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NEXT STEPS
Recommendation:Add a splash park to the Pence park plan and signature
water feature to the Cultural District.
Benefits:Enhances community pride, boosts Cultural District economy,
creates family-friendly destination.
Next Steps:
1. Gather Public Input
2. Approve & add to official plans
3. Solicit proposals (artists, water feature specialists, contractors)
4. Finalize budget range
5. Integrate into Downtown Boynton vision & branding.
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HONORING BOYNTON BEACH
HEISMAN HEROES
A City-Ready Proposal Presentation
Prepared for Boynton Beach CRA Advisory Board
February 2026
City of Boynton Beach | Community Redevelopment Agency
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WHY THIS INITIATIVE
MATTERS
•• Celebrates nationally recognized hometown excellence
•• Strengthens civic pride and youth inspiration
•• Enhances downtown identity and tourism appeal
•• Aligns with CRA placemaking and economic development
goals
City of Boynton Beach | Community Redevelopment Agency
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OTHER CITY TRIBUTES
City of Boynton Beach | Community Redevelopment Agency
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HEISMAN MURAL – EZELL HESTER JR. PARK
•• Large-scale public art installation
•Located at the Ezell Hester Jr. Football field/park
•Designed as an Instagram-worthy civic landmark
•Opportunity for community unveiling event
•Yearly sporting event to meet the Heisman Stars
City of Boynton Beach | Community Redevelopment Agency
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PROPOSED TRIBUTE
CONCEPTS
City of Boynton Beach | Community Redevelopment Agency
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PROPOSED TRIBUTE
CONCEPTS
City of Boynton Beach | Community Redevelopment Agency
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PROPOSED TRIBUTE
CONCEPTS
City of Boynton Beach | Community Redevelopment Agency
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COMMUNITY ENGAGEMENT
STRATEGY
•• Partner with local schools & youth leagues
•Establish Heisman Youth Scholarship Fund
•Annual Heisman Day celebration event
•Athlete appearance invitation for unveiling
•Boynton Beach Bulldogs
City of Boynton Beach | Community Redevelopment Agency
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STREET RENAMING
CONCEPT
•• 'Lamar Jackson Way' or 'Travis Hunter Blvd'
•• Custom-branded signage design
•• Installed within CRA district
•• Ribbon-cutting ceremony opportunity
City of Boynton Beach | Community Redevelopment Agency
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HEISMAN PLAZA
'HEISMAN SQUARE'
•• Commemorative bronze statue or engraved plaza feature
•• Seating and gathering space
•• Timeline of achievements etched in stone
•• Long-term landmark investment
City of Boynton Beach | Community Redevelopment Agency
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IMPLEMENTATION ROADMAP
•Phase 1: Design & Community Input
•Phase 2: CRA & City Commission Approval
•Phase 3: Installation & Launch Event
•Phase 4: Annual Programming & Expansion
City of Boynton Beach | Community Redevelopment Agency
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COMMUNITY REDEVELOPMENT AGENCY ADVISORY BOARD
PLAN RECOMMENDATIONS
2025
MISSION STATEMENT
The Boynton Beach Community Redevelopment Agency (BBCRA) serves the community by guiding redevelopment activities such
as affordable housing, free business promotional events, and small business funding programs that create a vibrant downtown core and
revitalized neighborhoods within the Agency’s 1,650 acres located along the eastern edge of the City of Boynton Beach.
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The 2016 Community Redevelopment Plan, while ambitious at its inception, no longer aligns with the current
needs and aspirations of Boynton Beach residents and visitors. With the city evolving rapidly, it’s time to re-imagine this
plan to better reflect today’s priorities—emphasizing sustainable growth, vibrant public spaces, diverse housing options,
and attractions that appeal to both locals and tourists. A refreshed vision will ensure Boynton Beach remains a thriving,
dynamic community that meets the demands of the future.
Adoption Date: October 4, 2016
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Educate residents about the CRA Districts.
Re-Evaluate district boundaries and consider renaming/re-branding.
(e.g., Creating a Marina District currently in the Downtown District)
Reevaluate the Boynton Beach CRA branding to align with the city’s
evolving identity and vision for the future.
Implementing a comprehensive multi-modal connectivity plan will enhance connectivity,
accessibility, and efficiency across all districts/city, ensuring equitable mobility options for
residents and visitors throughout the city.
DISTRICT RECOMMENDATIONS / CONSIDERATIONS
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Consider creating a new tagline that could better encompass its vibrant community and diverse appeal.
“Gateway to the Gulfstream” highlights the coast but may not reflect Boynton Beach’s full identity.
Explore partnerships with Live Local projects to incorporate a grocery store, particularly in or
adjacent to The Heart of Boynton district, enhancing accessibility and supporting community needs.
Engage community residents to collaborate with the CRA to rename the streets in our Downtown,
Cultural, and Heart of Boynton districts, reflecting the area’s unique character and shared heritage.
Examine and coordinate potential funding for infrastructure improvements for all districts.
(water, sewer, drainage)
Continue land banking opportunities. (affordable housing, retail, mixed-use, office, hotel, re-development)
DISTRICT RECOMMENDATIONS / CONSIDERATIONS
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COMMUNITY REDEVELOPMENT AGENCY ADVISORY BOARD
PLAN RECOMMENDATIONS
Federal Highway Corridor District
(North & South Entry)
- Create gateway features, and incorporate green canopy spaces.
- Create a sense of destination.
- Implement marketing techniques and attraction programs to
encourage businesses, restaurants and retail to relocate,
expand or start new operations within the district.
- Expand sidewalks and pedestrian areas.
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COMMUNITY REDEVELOPMENT AGENCY ADVISORY BOARD
PLAN RECOMMENDATIONS
Downtown District
- Look for land opportunities for or a parking garage.
- Identify City and private owned surface lots in the meantime for public parking.
- Beautify the Federal corridor.
(canopy tree, landscaping, hardscaping, wider sidewalks, decorative lighting, public art)
- Increase activation at Veteran’s Park with features like red, white, and blue lighting.
- Acquire/partner land for a grocery store.
- Enhance maintenance, safety, and cleanliness to
accommodate pedestrian traffic.
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Cultural District
- Create a gateway to establish a sense of arrival.
- Increase activation throughout the corridor.
- splash pads, family-friendly features
- Enhance lighting.
- Implement way-finding and signage.
- Add foliage and trees
- palm trees, flowers
- Designate the area as a unique district within Boynton Beach
- Ocean Avenue with distinct pavers, lamppost signage etc.
- Improve public safety. (currently a vehicular corridor will become more pedestrian friendly)
- Provide markets and services to support increased development and density.
- Preserve historic buildings and consider relocation when necessary.
- Pioneer Village: Oscar Magnuson House, Andrew’s House
- Expand and preserve the art component throughout the corridor.
COMMUNITY REDEVELOPMENT AGENCY ADVISORY BOARD
PLAN RECOMMENDATIONS
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COMMUNITY REDEVELOPMENT AGENCY ADVISORY BOARD
PLAN RECOMMENDATIONS
Boynton Beach Boulevard District
- Improve or install additional sidewalks.
- Add decorative lighting.
- Install a gateway feature.
- Increase way-finding and neighborhood identification signage.
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COMMUNITY REDEVELOPMENT AGENCY ADVISORY BOARD
PLAN RECOMMENDATIONS
Heart of Boynton District
- Incorporate a grocer into or adjacent to the district .
- Solicit community input.
- Include a farmer’s/green market/gathering space
within the MLK corridor.
- Increase public art installations in the Heart of Boynton.
- Improve older homes in the area.
- Enhance community greening initiatives.
- Change some street names to be
more represent the community.
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Industrial District
- Transform the industrial area into a destination.
- Install paved west-end walkways and lighting.
- Develop on-street parking on Industrial Avenue.
- Add fencing separation the west-end homes.
- Identify land for parking and turnarounds.
- Promote future residential and commercial redevelopment.
- Improve lighting.
- Enhance street-scape and landscaping.
- Create activation areas for art and activities.
- Add street signage.
- Incorporate CPTED principles. (Crime Prevention Through Environmental Design)
- Install monument signs.
- Address code enforcement to clean and beautify the area.
- Work with business owners to enhance and beautify their properties.
COMMUNITY REDEVELOPMENT AGENCY ADVISORY BOARD
PLAN RECOMMENDATIONS
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Thank You
ADVISORY BOARD MEMBERS 2023-2025
Naomi Cobb (Chair)
Courtlandt McQuire (Vice Chair)
Kameren Maharaj
Lesha Roundtree
Alexandria Lopresto
Chevette Gadson
Thomas Ramiccio
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CRA ADVISORY BOARD MEETING OF: March 18, 2026
OLD BUSINESS
AGENDA ITEM 7.C
SUBJECT:
Pending Assignment No. 3 - Discussion and Consideration of New Assignments from the CRA
Board Assigned at the February 10, 2026 CRA Monthly Board Meeting
SUMMARY:
At the CRA Board Meeting on February 10, 2026, the CRA Board approved the following
tasks be assigned to the CRA Advisory Board (CRAB):
Discussion and consideration of the Boynton Beach CRA Bank Loan and TIF Earnings
Strategy presentation that was given to the CRA Board on February 10, 2026, along with
any recommendations for priorities including the Borrowing Capacity and Repayment
Analysis in preparation for the CRA's upcoming budget season (see Attachments I and
II).
At the February 18, 2026 CRA Advisory Board Meeting, CRA Executive Director Chris Brown
presented the long-term strategy presentation for the CRA to generate TIF income. The CRAB
Board briefly discussed the grocery store brands including possible locations. There was also
discussion about creating a downtown for the multi-family units already in production, including
a food hall and retail. It was suggested that the CRAB Board be prepared to come to the
March meeting ready to have a robust conversation about the plan and to bring any
comments and suggestions.
When matters are assigned to the CRAB Board, reliance on staff should be minimized to the
extent possible. Individual members of CRAB may not assign work to the CRA or City staff
members. Research by the members of the Advisory Board should be done independently
and with minimal support from the CRA or City staff.
Once the assignment is complete and the CRAB is ready to present a report to the CRA or
City Commission, the CRAB Board shall submit their report to CRA staff or the City Clerk for
publishing on the next available agenda.
FISCAL IMPACT:
To be determined.
CRA PLAN/PROJECT/PROGRAM:
2016 Boynton Beach Community Redevelopment Plan
CRAB RECOMMENDATION:
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•Attachment I - Boynton Beach CRA Bank Loan and TIF Earnings Strategy
Presentation
•Attachment II - Analysis of Borrowing Capacity & Repayment Schedule
To be determined.
ATTACHMENTS:
Description
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297
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Number One – Acquire Property to increase/earn TIF
Number Two – Focus on:
Boynton Beach Blvd. District
E. Martin Luther King Jr. Corridor in the Heart of Boynton District
Cultural District (Mainstreet)
Downtown District/Federal Highway District (Grocer)
Number Three – Redevelopment of Intracoastal Waterway (Restaurants)
Number Four – Revive E. Ocean Avenue as a restaurant/entertainment
street
Number Five – Beautification of major roadways:
Boynton Beach Blvd.
E. Ocean Avenue
E. Martin Luther King Jr. Blvd.
Federal Highway
Seacrest Blvd.
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Number One – Property acquisition in focused Districts. Prepare properties
(demolition/site-work/environmental survey/environmental remediation) to
attract developers (Projects 1 -10)
Number Two – Update the BBCRA Redevelopment Plan (Spring 2026)
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Purchased Boynton Inn, Boynton Beach Boulevard, $8,100,000 (2.11 acres)
13 Parcel acquisition adjacent to the Boynton Inn, $7,250,000 (3.3 acres)
2-3 additional parcels to eliminate the “missing teeth” in the project site,
$2,000,000 (.42 & .53 acres)
Redevelopment Goal: commercial project including retail, office, hotel &
residential/workforce housing for employees in the project
Future TIF generation: $1,710,000 annually plus 3% annual increases
Future other income: land lease at $850,000 annually plus 3% annual
increases or sale of property for minimum of $15,000,000 (subject to
appraisal)
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Purchased USPS & additional parcel at Boynton Beach Blvd. & N. Seacrest
Blvd. $3,000,000 (1.195 acres)
3 Parcel acquisition on NW 1st Avenue, south of vacant tract, 3 single family
homes. Estimated cost of $2,250,000 (.6 acres and subject to appraisal)
Redevelopment Goal: Hotel and commercial retail
Future TIF generation: $300,000 annually plus 3% annual increase
Future other Income: land lease at $350,000 annually plus 3% annual
increases or sale of property for minimum of $6,000,000 (subject to
appraisal)
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Purchased USPS & additional parcel at Boynton Beach Blvd. & N. Seacrest
Blvd. $3,000,000 (1.195 acres)
Boynton Beach Boulevard, 4 parcel acquisition, $5,500,000 (1.22 acres and
subject to appraisal)
Redevelopment goal: added to hotel site for small convention center hotel or
additional retail, including new restaurant
Future TIF generation, $300,000 plus 3% annual increases
Other future sources of income: land lease at $275,000 annually plus 3%
annual increases or sale of property for minimum of $5,000,000 (subject to
appraisal)
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Purchased 433 W. Boynton Beach Blvd. $1,200,000 (.57 acres)
Acquire 413 W. Boynton Beach Blvd. – currently used as offices. Estimated
cost of $1,250,000 (.22 acres and subject to appraisal)
Redevelopment Goal: Commercial office and retail. Possibility to move Capt.
Frank’s Seafood Market to new larger location with ample parking
Future TIF generation: $300,000 annually plus 3% annual increase
Future other Income: land lease at $300,000 annually plus 3% annual
increases or sale of property for minimum of $6,000,000 (subject to
appraisal).
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Purchased 4 parcels at 225 W. Boynton Beach Boulevard, $2,185,000
(1.0564 acres)
Option A - 3 parcel acquisition, $3,000,000 (.5 acres and subject to
appraisal)
Redevelopment goal: Office (flex) complex and/or additional retail
Future TIF generation: $240,000 plus 3% annual increases
Future source of more income: land lease at $275,000 annually plus 3%
annual increases or sale of property for minimum of $5,000,000 (subject to
appraisal)
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Purchased Magnuson House, 211 East Ocean Avenue, $850,000 (.32 acres)
2 Parcel acquisition on East Ocean and NE 1st Street. Estimated cost of
$5,000,000 (.96 acres and subject to appraisal)
Redevelopment Goal: Commercial office, retail and parking garage. Use of
land for moving historical homes to East Ocean Avenue - unique retail &
restaurants – rear parking to utilize city alley
Future TIF generation: $240,000 annually plus 3% annual increase
Future other Income: land lease at $300,000 annually plus 3% annual
increases or sale of property for minimum of $5,000,000 (subject to
appraisal)
BBCRA assists with renovations of historic homes with grants for
preservation
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Purchased multiple parcels (over 10+ years) along E. MLK Jr. Blvd. and NE
9th Ave., totaling $2,657,820 (3.87 acres)
Multiple property acquisitions on E. MLK Jr. Blvd. and NE 9th Ave. in various
phases, 5-7 years - estimated cost of $20,000,000 (4.66 acres and subject to
appraisal)
Redevelopment Goal: Commercial office, retail and residential (townhouses
or 2-3 story multi-family) – rear parking utilizing alleyways. Construct right-
of-way at NE 2nd Street for connection of vehicle & pedestrian walkway to
connect E. MLK Jr. Blvd. & NE 9th Ave. providing easy access to retail
services.
Target acquisition 130 E. MLK Jr. Blvd. one-story retail building repurposed
for housing and ground floor retail
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Future TIF generation: $60,000 annually initially up to $275,000 over the
seven-year period of acquisition and development plus 3% annual increases
Future other Income: Sale of land for minimum of $10,000,000 (subject to
various appraisals)
BBCRA renovation assistance with ground floor retail to create business
opportunities
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Strategic location - north of Boynton Beach Boulevard fronting North Federal
Highway contains an internal access road (NE 4th St.) with FEC Railroad
backing the west portion
Hall properties - 1.24 acres listed at $7,500,000
Mauro properties .80 acres not for sale – objective is to develop the site with
commercial uses/grocery store
The redevelopment of this site is an important goal for the BBCRA – much
needed higher-end commercial retail and grocery store would significantly
change the Downtown District
2 City owned parcels (adjacent to Hall/Mauro properties) include a cellphone
tower (.52 acres) and Veterans Park (.59 acres) - City properties provide an
additional 1.11 acres to the development site – City Commission could
approve relocation of Veterans Park
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Conceptually, future TIF generation could range between $1,500,000
annually initially up to $2,500,000 over a five-year period of acquisition and
development.
BBCRA grant assistance for ground retail with grants for creating business
opportunities.
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Approximately 2 acres are available of the 6+ acre site
Remaining portion of the site is earmarked for a 300+ unit multifamily rental
project
City of Boynton Beach usage - BBCRA currently lacks pricing data and a
definitive plan
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.618 acres with 4 story office condominium – located between the Ocean
One Project (300+ unit multi-family project) and the Marina Village
35 current owners are attempting to find a buyer to purchase all the office
condominiums
BBCRA staff feels that it is not suitable for another multi-family rental project -
may be of interest to a waterfront condominium developer
Suitable for a tower- ground floor restaurants and retail (facing both E. Ocean
Ave. & E. Boynton Beach Blvd) – 5 floors of parking – elevations above the
6th floor would ensure views of Boynton Harbor Marina and the ocean
Private garage would offer customer parking for retail/restaurants in the area
BBCRA staff is available to assist in finding a condominium developer/buyer
for current owners
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329
BBCRA funded $6,700,000 for the City’s purchase of adjacent 1.24-acre lot
670 Oak Street
Purpose of the acquisition - expand the park, include waterfront dining and
added dockage
Expansion of the park allows the City to receive rent from a waterfront
restaurant land lease and manage additional docks
The purchase allows for additional parking to accommodate park visitors and
restaurant patrons
330
331
332
BBCRA and the City desire to build a multi-story public parking garage in the
downtown core area to provide parking for customers, visitors and business
owners
BBCRA will undertake a location study to determine the optimum size,
location, and cost of the garage
Architectural style will be an important factor in the study
Extra funds will need to be expended to allow the garage to be an artistic
statement
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Financing and Implementation Plan
Forecasted Forecasted Forecasted Forecasted Sunset
Approved Bank Loan Forecasted Forecasted Forecasted Forecasted Forecasted FY 2032 -FY 2035 -FY 2038 -FY 2041 -Forecasted
FY 2026 FY 2026 FY 2027 FY 2028 FY 2029 FY 2030 FY 2031 FY 2034 FY 2037 FY 2040 FY 2043 FY 2044
Source (Revenue)
Carryforward
Carryforward of Appropriations (General Fund)151,166$ 151,166$
Carryforward of Project Appropriations (Project Fund)31,227,658 31,227,658$
Total Estimated Carryforward Balances 31,378,824$ 31,378,824$
Revenues
Tax Increment Revenue (TIR) Allocation
City of Boynton Beach 16,657,925$ -$ 17,320,790$ 18,006,855$ 19,688,782$ 22,202,639$ 24,409,650$ 84,244,059$ 96,776,318$ 107,790,601$ 118,420,250$ 42,003,366$ 567,521,235$
Palm Beach County 9,672,344 - 10,057,233 10,455,593 11,432,196 12,891,855 14,173,345 48,915,906 56,192,700 62,588,091 68,760,145 24,389,051 329,528,459$
Budgetary Allowance for Value Variations/Millage Adj.(263,303) - (273,780) (284,624) (311,210) (350,945) (385,830) (1,331,600) (1,529,690) (1,703,786) (1,871,803) (663,924) (8,970,495)$
Subtotal - Tax Increment 26,066,966$ -$ 27,104,243$ 28,177,824$ 30,809,768$ 34,743,549$ 38,197,165$ 131,828,365$ 151,439,328$ 168,674,906$ 185,308,592$ 65,728,493$ 888,079,199$
Land Lease(s)- - - - - 125,000 807,500 5,936,420 7,372,340 8,055,930 8,802,930 3,112,090 34,212,210$
Land Sale(s)- - - - - 1,000,000 1,000,000 3,000,000 1,000,000 - - - 6,000,000$
Miscellaneous
Investment Earnings - - 150,000 154,500 159,140 163,910 168,830 537,510 587,360 641,830 701,360 247,950 3,512,390$
Marina Rents 100,000 - 125,000 128,130 131,330 134,610 137,980 434,990 468,420 504,430 543,230 190,210 2,898,330$
Marina Fuel Sales 1,200,000 - 1,400,000 1,414,000 1,428,140 1,442,420 1,456,840 4,458,510 4,593,600 4,732,780 4,876,180 1,658,010 28,660,480$
CRA Financing (Bank Loans)
Phase-1 Financing (taxable)- 20,200,000 - - - - - - - - - - 20,200,000$
Phase-2 Financing (taxable)- - - 20,200,000 - - - - - - - - 20,200,000$
Phase-3 Financing (taxable)- - - - - 10,100,000 - - - - - - 10,100,000$
Phase-4 Financing (taxable)- - - - - - - - - - - - -$
Phase-5 Financing (taxable)- - - - - - - - - - - - -$
Total Forecasted Revenues 27,366,966$ 20,200,000$ 28,779,243$ 50,074,454$ 32,528,378$ 47,709,489$ 41,768,315$ 146,195,795$ 165,461,048$ 182,609,876$ 200,232,292$ 70,936,753$ 1,013,862,609$
Total Sources 58,745,790$ 20,200,000$ 28,779,243$ 50,074,454$ 32,528,378$ 47,709,489$ 41,768,315$ 146,195,795$ 165,461,048$ 182,609,876$ 200,232,292$ 70,936,753$ 1,045,241,433$
Use (Expenditures)
Operations
CRA Board & Advisory Board 67,764$ -$ 69,460$ 71,190$ 72,960$ 74,780$ 76,650$ 241,580$ 260,090$ 280,150$ 301,730$ 105,650$ 1,622,004$
Executive Department 425,245 - 444,550 464,760 485,940 508,140 531,400 1,745,020 1,997,440 2,288,010 2,622,470 957,010 12,469,985$
Finance Department 365,634 - 382,780 400,750 419,590 439,340 460,090 1,514,910 1,740,570 2,000,850 2,300,950 841,460 10,866,924$
Planning & Development Department 305,784 - 320,230 335,380 351,250 367,890 385,360 1,269,600 1,460,000 1,679,700 1,933,160 707,300 9,115,654$
Taxes & Employee Benefits 773,000 - 811,650 852,250 894,870 939,620 986,600 3,265,840 3,780,670 4,376,700 5,066,600 1,860,500 23,608,300$
Information Technology 111,200 - 115,650 120,280 125,090 130,090 135,300 439,210 493,980 555,640 625,020 225,220 3,076,680$
Professional Services 764,058 - 794,620 826,400 859,460 893,840 929,600 3,017,950 3,394,770 3,818,700 4,295,510 1,547,870 21,142,778$
Subtotal - Operations 2,812,685$ -$ 2,938,940$ 3,071,010$ 3,209,160$ 3,353,700$ 3,505,000$ 11,494,110$ 13,127,520$ 14,999,750$ 17,145,440$ 6,245,010$ 81,902,325$
Executive Summary
Total
(2026-2044)
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Financing and Implementation Plan
Forecasted Forecasted Forecasted Forecasted Sunset
Approved Bank Loan Forecasted Forecasted Forecasted Forecasted Forecasted FY 2032 -FY 2035 -FY 2038 -FY 2041 -Forecasted
FY 2026 FY 2026 FY 2027 FY 2028 FY 2029 FY 2030 FY 2031 FY 2034 FY 2037 FY 2040 FY 2043 FY 2044
Executive Summary
Total
(2026-2044)
Debt Service
Tax Increment Refunding Revenue Bonds, Series 2012 1,569,168$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 1,569,168$
Tax Increment Refunding Revenue Bonds, Series 2015 748,925 - - - - - - - - - - - 748,925$
Other Debt Service Costs 1,000 - - - - - - - - - - - 1,000$
Conceptual Bank Loan; Phase-1 Financing (taxable)- - 2,442,189 2,442,190 2,442,190 2,442,189 2,442,190 7,326,570 4,884,379 - - - 24,421,897$
Conceptual Bank Loan; Phase-2 Financing (taxable)- - - 2,442,189 2,442,190 2,442,190 2,442,189 7,326,570 7,326,569 - - - 24,421,897$
Conceptual Bank Loan; Phase-3 Financing (taxable)- - - - - 1,221,095 1,221,095 3,663,285 3,663,285 2,442,189 - - 12,210,949$
Closing Costs - 200,000 - 200,000 - 100,000 - - - - - - 500,000$
Subtotal - Debt Service 2,319,093$ 200,000$ 2,442,189$ 5,084,379$ 4,884,380$ 6,205,474$ 6,105,474$ 18,316,425$ 15,874,233$ 2,442,189$ -$ -$ 63,873,836$
Redevelopment Area Investment
Real Estate Management
Buildings & Grounds 1,036,933$ -$ 1,172,320$ 1,206,260$ 1,241,220$ 1,277,250$ 1,314,400$ 4,177,560$ 4,554,950$ 4,968,410$ 5,421,520$ 1,915,300$ 28,286,123$
Insurance 415,769 - 432,400 449,700 467,690 486,400 505,860 1,642,240 1,847,300 2,077,960 2,337,420 842,290 11,505,029$
Marina 1,300,000 - 1,321,080 1,342,610 1,364,610 1,387,100 1,410,090 4,373,380 4,599,690 4,842,020 5,101,890 1,761,650 28,804,120$
Marketing, Promotions, and Business Development
Marketing & Business Development 319,703 - 332,600 341,930 351,550 361,420 371,590 1,178,660 1,280,920 1,392,220 1,513,240 533,130 7,976,963$
Business Promotions 219,458 - 229,690 236,430 243,370 250,500 257,850 819,830 894,140 975,300 1,063,780 375,640 5,565,988$
Redevelopment Projects
Capital Outlay 4,819,055 - - - - - - - - - - - 4,819,055$
Land/Property Acquisitions (Capital Outlay)19,582,086 20,000,000 4,825,000 26,800,000 307,500 7,015,190 8,000,000 6,305,030 6,789,810 7,311,860 7,874,050 2,756,990 117,567,516$
Downtown Parking Garage (Capital Outlay)- - - - 200,000 10,800,000 - - - - - - 11,000,000$
Infrastructure & Streetscape (Capital Outlay)15,213,515 - 4,800,000 2,525,000 9,000,000 2,000,000 1,000,000 3,152,530 3,394,950 3,656,000 3,937,100 1,378,520 50,057,615$
Town Square Redevelopment (ILA with City)3,550,000 - 2,800,000 2,800,000 2,800,000 2,800,000 2,800,000 8,400,000 8,400,000 8,400,000 8,400,000 2,800,000 53,950,000$
Economic Development 1,576,724 - 1,100,000 1,327,500 1,505,690 1,884,590 1,817,950 4,412,510 4,644,150 5,001,230 5,385,770 1,885,750 30,541,864$
Housing Rehab Programs 2,905,297 - 1,950,000 2,018,250 2,088,990 2,162,300 2,238,290 7,199,150 7,989,600 8,870,320 9,852,040 3,521,320 50,795,557$
Professional & Other Expenses 2,082,958 - 900,000 922,500 945,560 969,200 993,430 3,131,830 3,372,680 3,632,000 3,911,260 1,369,470 22,230,888$
Tax Increment Revenue Funding Agreements 545,866 - 218,669 226,323 1,395,086 3,949,722 5,616,001 17,879,256 19,495,239 10,947,138 4,928,230 - 65,201,530$
Subtotal - Redevelopment Area Investment 53,567,366$ 20,000,000$ 20,081,759$ 40,196,503$ 21,911,266$ 35,343,672$ 26,325,461$ 62,671,976$ 67,263,429$ 62,074,458$ 59,726,300$ 19,140,060$ 488,302,250$
Total Forecasted Expenditures 58,699,145$ 20,200,000$ 25,462,888$ 48,351,892$ 30,004,806$ 44,902,846$ 35,935,935$ 92,482,511$ 96,265,182$ 79,516,397$ 76,871,740$ 25,385,070$ 634,078,412$
Reserve
Redevelopment Project Contingency 46,645$ -$ 3,316,355$ 1,722,562$ 2,523,572$ 2,806,643$ 5,832,380$ 53,713,284$ 69,195,866$ 103,093,479$ 123,360,552$ 45,551,683$ 411,163,021$
Total Forecasted Reserves 46,645$ -$ 3,316,355$ 1,722,562$ 2,523,572$ 2,806,643$ 5,832,380$ 53,713,284$ 69,195,866$ 103,093,479$ 123,360,552$ 45,551,683$ 411,163,021$
Total Uses 58,745,790$ 20,200,000$ 28,779,243$ 50,074,454$ 32,528,378$ 47,709,489$ 41,768,315$ 146,195,795$ 165,461,048$ 182,609,876$ 200,232,292$ 70,936,753$ 1,045,241,433$
Additional Bonds Test
Annual Debt Service Coverage 11.24 11.10 5.77 6.31 5.69 6.26
Maximum Annual Debt Service (MADS)2,442,190$ 4,884,380$ 6,105,475$
MADS Coverage (prior-year TIR => 135% of MADS)10.67 5.55 5.05
PASS PASS PASS
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