HomeMy WebLinkAboutR26-172 RESOLUTION NO. R26-172
1 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOYNTON
2 BEACH, FLORIDA, RATIFYING THE 2026-2027 ANNUAL BUDGET FOR
3 THE BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY;AND
4 FOR ALL OTHER PURPOSES.
5
6 WHEREAS, the Boynton Beach Community Redevelopment Agency ("CRA") was created
7 by Ordinance of the City Commission pursuant to Chapter 163, Florida Statutes. The
8 Redevelopment Agency has been designated a Florida Special District; and
9 WHEREAS, Florida Statutes 189.016 provides that the proposed budget of a dependent
10 special district must be contained within the general budget of the local governing authority to
11 which it is dependent and be clearly stated as the budget of the dependent district. However, with
12 the concurrence of the local governing authority, a dependent district may be budgeted
13 separately. The dependent district must provide any budget information requested by the local
14 governing authority at the time and place designated by the local governing authority; and
15 WHEREAS, a local governing authority may, at its discretion, review the budget or tax levy
16 of any special district located solely within its boundaries; and
17 WHEREAS, the CRA Fiscal Year 2026-2027 budget was approved on September 8, 2026,
18 by the CRA Board; and
19 WHEREAS, the City Commission, upon the recommendation of staff, has deemed it in the
20 best interests of the City's citizens and residents to ratify the adoption of the Boynton Beach
21 Community Redevelopment Agency's 2026-2027 annual budget.
22
23 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF BOYNTON
24 BEACH, FLORIDA, THAT:
25 SECTION 1. The foregoing "Whereas" clauses are hereby ratified and confirmed as
26 being true and correct and are hereby made a specific part of this Resolution upon adoption.
27 SECTION 2. The City Commission of the City of Boynton Beach, Florida, does hereby
28 ratify the adoption of the Boynton Beach Community Redevelopment Agency's 2026-2027 annual
29 budget, as further detailed in attached Exhibit A.
30 SECTION 3. The City Commission of the City of Boynton Beach, Florida, hereby
RESOLUTION NO. R26-172
31 authorizes the City Manager to execute any ancillary documents as may be necessary to
32 accomplish the purpose of this Resolution.
33 SECTION 4. This Resolution shall take effect in accordance with the law.
34
35 [SIGNATURES ON THE FOLLOWING PAGE]
36
RESOLUTION NO. R26-172
37 PASSED AND ADOPTED this Ica day of A Q�e_re00,Q.r 2026.
38 CITY OF BOYNTON BEACH, FLORIDA`
39 YES NO
40 Mayor— Rebecca Shelton ✓
41
42 Vice-Mayor—Thomas Turkin ✓
43
44 Commissioner—Angela Cruz ✓
45
46 Commissioner— Mack McCray ✓
47
48 Commissioner—Aimee Kelley
49
50 VOTE 5-
51 ATTEST:
52
54 Tammy Sta Ione, CMC 3C01.^CL,
ebecca Shelton
55 City Clerk Mayor
56
57OF,BOy���1
/ APPROVED AS TO FORM:
58 (Corporate Seal) C;:' CORpo�;.T1. �
59 ;/�,C tet/ 0�� �
61 I1, A.� 9��' j;'Z; Shawna G. Lamb
62 1'‘``O,(� %•...... _ City Attorney
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CRA FUNDING/USES I FY25/26 FY26/27
Tax Increment Revenue $26,066,966 $26,559,228
Marina Rents&Fuel Sales $1,300,000 $1,900,000
Interest $0 $1,300,000
Other Revenue(Lease&Property Sales) $0 $608,000
Total Revenue $27,366,966 I $30,367,2281
Debt&Operating Expenses
Debt Service(Last Payment) $2,319,093
Operating Expenses $4,692,054 $3,902,985
Marina $1,300,000 $1,398,950
Sub-Total Debt&Operating Expenses $8,311,1471 $5,301,9351
Tax Increment Revenue Funding Agreement(TIRFA)Payments-Contractual
Obligations
500 Ocean(75%Yrs 1-4;50%Yrs 5-7;25%Yrs 8-10) Year 8 $444,621 $245,952
Wells Landing Apartments LLC(15 years)-Remaining balance$1,532,523** Year 10. $105,757 $105,757
Townsqaure funding (City Payment) - Beginning FY 26-27 to FY 43-44, Not to
exceed $2,800,000) Year 7► $3,550,000 $2,800,000
Ocean One- (14 Years) not to exceed$9,000,000-amended 12/9/2025 to
$11,500,000 (est budget year 29-30)
The Villages (12 Years) Not to exceed $9,100,000 (est budget year 28-29)
budget year 29-30)
Townsquare -Time Equities N. Parcel (7 Years)not to exceed $15,200,000
Townsquare -Time Equities S. Parcel (10 Years)not to exceed$20,000,000
City View Apartments - No commitment from the board yet(3750000-2400000) $1,675,000
The Pierce- (3 Years)not to exceed$7,000,000 $4,000,000
Sub-Total TIRFA/Commitment Payments $3,994,621 I $8,826,709
Debt Service,Operating & TIRFA 11 $12,305,7681 $14,128,644
BBCRA FISCAL YEAR 2026-2027 PROJECT FUND WORKSHEET
Transfer from GF $ 25,065,293
Rollover $ 15,379,584
Marina Grant $ 1,300,000
(-)Commitments,TIRFA,Town Square $ (8,826,709)
$ 32,918,168
Project Fund Line Proposed FY26/27
CRA Plan District Proposed Projects Item Allocation Total Projected Rollove Project Fund
FY25/26 as of 8/31/2026 Allocations
District Wide COBB-Beautification Technician(2)(CRA) $ 147,000 $ 150,000_
District Wide COBB-Code Enforcement Officers(4)(CRA) $ 308,965 $ 310,000
District Wide COBB-Engineer/Project Manager(CRA) $ 160,000 $ 160,000
District Wide C . . Project Related Legal Services _ $ 280,000 $ 225,000
District Wide CRA Plan $ 300,000 S 280,000 $ 100,000
District Wide Professional Development Services $ 339,540 S 260,973 $ 500,000
District Wide Targeted Property Acquisition&P3 Collaboration $ 2,220,566 17,800 S 14,600,000
District Wide Site Work&Demolition $ 439,000 5 383,800 $ 450,000
District Wide Adaptive Reuse for Historic Properties _ $ 1,350,000 5 1,350,000 $ 800,000
Downtown District Marina ERM Monitoring Wells and Potential Remediation $ 300,000 S 291,600 $ 10,000
Downtown District Marina Seawall $ 3,500,000 5 3,500,000 $ 4,800,000
Downtown District Master ILA-Marina Upgrades(condiut,pumps) $ 325,000
Federal Highway Master ILA-Historic Woman's Club of BB Programming&Design - $ 500,000 $ 100,000
Downtown District Master ILA-4th Street Streetscape f t Design $ 250,000 F. 250,000 $ 100,000
Downtown District Master ILA-Pence Park Design&Permit and Construction $ 4,400,000 > 4,035,000 $ 4,500,000
Federal Highway Master ILA-Federal Highway Streetscape $ 450,000 S 450,000 $ 450,000
Heart of Boynton Master ILA-Cottage District Road improvement Design $ 200,000 5 200,000 $ 200,000
Heart of Boynton Master ILA-MLK Jr.Blvd Streetscape f Design $ 800,000 5 993,000 $ 100,000
Boynton Beach Blvd Master ILA-West Boynton Beach Blvd Demolitions&FPL Relocations $ 500,000 500,000 $ 1,000,000
Federal Highway Master ILA-Coquina Cove Conduit installation $ 400,000
Federal Highway Master ILA-MLK Entry Feature Construction $ 350,000 350,000 $ 350,000
District Wide Commercial Economic Redevelopment Grants $ 620,000 $ 600,000
District Wide Residential , . Grant I $ 80,000
District Wide Business Relocation Grant I $ 70,000
District Wide Placemaking initiatives(District Banners,Marina Placemaking,Temp uses) ' $ 266,954
District Wide Business Promotional Marketing ' $ 218,605 2 73,000 $ 200,000
District Wide Neighborhood Officer Program(NOPs)7th year of program $ 1,213,870 239,302 $ 1,278,214
District Wide Ride Share $ 450,000 33,861 $ 425,000
District Wide Business Development&Promotions $ 610,000 F 176,000 $ 368,000
District Wide Removed I Relocated rollover $ 7,160,000 -95,248
$ 27,067,546 $ 1 9,584 $ 32,918,168
ALLOCATION BALANCE $ (0)
Boynton Beach CRA
General Fund - Budget Summary
• FY 2025-2026 I 2026-2027 vs. Prior Year
FY 2026-2027 Original I Amended I Increase/(Decrease)
REVENUES I Budget Budget I Budget I Amount
Tax Increment Revenue(TIF) $ 26,559,228 (i) $ 26,066,966 $ 26,066,966 $ 492,262 2%
Marina Rents&Fuel Sales $ 1,900,000 (ii) $ 1,300,000 $ 1,300,000 $ 600,000 46%
Interest $ 1,300,000 (ii) $ 1,300,000 100%
Other Revenue(Lease&Property Sales) $ 608,000 (ii) $ 608,000 100%
Budget Amendment#1 3/20/2025 $ 2,604,088
Total Revenues 1 $ 30,367,228 I $ 27,366,966 I $ 29,971,054 I S 3,000,262 11%
EXPENSES
CRA Board&Advisory Board $ 46,500 $ 64,500 $ 64,500 $ (18,000) -28%
Administration&Operations
Executive Department $ 142,450 (iii) $ 640,200 $ 410,200 $ (497,750) -78%
Finance Department $ 154,700 (iii) $ 365,634 $ 365,634 $ (210,934) -58%
Planning& Development Department $ 253,850 $ 304,894 $ 304,894 $ (51,044) -17%
Marketing&Business Development $ 105,000 (v) $ 315,260 $ 315,260 $ (210,260) -67%
Business Development Department $ 456,425 $ 217,666 $ 217,666 $ 238,759 110%
Taxes, Employee Benefits, Compensated Absences,
Workers Comp $ 438,000 $ 773,000 $ 773,000 $ (335,000) -43%
Sub-Total $ 1,550,425 $ 2,616,654 $ 2,386,654 $ (1,066,229) -41%
Other General Fund Expenses
Insurances $ 295,000 $ 415,769 $ 415,769 $ (120,769) -29%
Professional Services $ 1,037,000 (iv) $ 345,000 $ 745,000 $ 692,000 201%
Buildings, Grounds,Maintenance $ 700,000 $ 934,000 $ 934,000 $ (234,000) -25%
Information Technology $ 74,060 $ 107,460 $ 107,460 $ (33,400) -31%
Contingency $ 200,000 $ 208,671 $ 38,671 $ (8,671) -4%
Sub-Total $ 2,306,060 $ 2,010,900 $ 2,240,900 $ 295,160 15%
Boynton Harbor Marina Fuel Dock&Slips Expenses $ 1,398,950 $ 1,300,000 $ 1,300,000 $ 98,950 8%
Total General Fund Operating $ 5,301,935 $ 5,992,054 $ 5,992,054 $ (690,119) -12%
Operating Transfers Out
Transfer to Debt Service Fund $ - (vi) $ 2,319,093 $ 2,319,093 $ (2,319,093) -100%
Transfer to Project Fund $ 25,065,293 $ 19,055,819 $ 21,659,907 $ 6,009,474 32%
Sub-Total $ 25,065,293 $ 21,374,912 $ 23,979,000 $ 3,690,381 17%
Total General Fund Expenses&
Transfers Out $ 30,367,228 $ 27,366,966 $ 29,971,054 $ 3,000,262 11%
(i)Property values in CRA up 4%
(ii)Accounted for revuene not previously budgeted
(iii)Reallocation of funds to Professional Services
(iv)Reallocation of funds from Executeve&Fiannace Budgets
(v)Reallocation of funds to Business Development Budget
(vi)Debt Service has been paid in full
Boynton Beach CRA
Project Fund - Budget Summary
V
2026-2027 I 2025-2026 2025-2026 vs.Prior Year
Original Amended Increase/(Decrease)
FUNDING SOURCES I Budget Budget Budget I Amount I %
1.Rollover FY 2023-2024(see Budget Overview) $ 15,379,584 $ 21,862,030 $ 21,862,030 $ (6,482,446)
2.Transfers in from General Fund
Other Financing Sources/Transfers In $ 25,065,293 $ 19,055,819 $ 21,659,907 $ 6,009,474 24%
3.Other Revenue/Financing Sources:
Grant Awards/Appropiations $ 1,300,000 $ 1,300,000 100%
Total Funding Sources/Revenues&Transfers In $ 41,744,877 $ 40,917,849 $ 43,521,937 $ 827.028 2%
•
2026-2027 I 2025-2026 I 2025-2026 vs.Prior Year
Original I Amended I Increase/(Decrease)
EXPENSES Budget Budget I Budget I Amount I %
Professional&Other Expenses
Contingency $ 150,000 $ 225,248 $ 25,248 $ (75,248) -33%
Professional Services $ 1,070,000 $ 1,505,505 $ 1,505,505 $ (435,505) -29%
Legal Services $ 225,000 $ 280,000 $ 280,000 $ (55,000) -20%
Sub-Total $ 1,445,000 $ 2,010,753 $ 1,810,753 $ (565,753) -28%
Capital Outlay
Property Purchases $ 15,000,000 $ 13,051,000 $ 17,980,088 $ 1,949,000 15%
BBWC Capital Improvements/Marina Seawall $ 4,810,000 $ 3,800,000 $ 3,800,000 $ 1,010,000 27%
Site Work&Demolition Fees $ 450,000 $ 439,000 $ 439,000 $ 11,000 3%
Infrastructure&Streetscape $ 11,125,000 $ 18,000,000 $ 15,250,000 $ (6,875,000)
Sub-Total $ 31,385,000 $ 35,290,000 $ 37,469,088 $ (3,905,000) -11%
Economic Development&Housing Rehab Program
Economic Development Grant Programs $ 1,016,954 $ 620,000 $ 1,245,000 $ 396,954 64%
Marketing Program $ 200,000 $ 218,605 $ 218,605 $ (18,605) -9%
DIFA-Economic Development $ 6,226,709 $ 444,621 $ 444,621 $ 5,782,088 1300%
Sub-Total $ 7,443,663 $ 1,283,226 $ 1,908,226 $ 6,160,437 480%
Proiects&Proarams
Community Police Program $ 1,278,214 $ 1,273,870 $ 1,273,870 $ 4,344 0%
Ride Share $ 425,000 $ 450,000 $ 450,000 $ (25,000) -6%
Business Development&Promotions $ 368,000 $ 610,000 $ 610,000 $ (242,000) -40%
Sub-Total $ 2,071,214 $ 2,333,870 $ 2,333,870 $ (262,656) -11%
Total Project Fund Expenses $ 42,344,877 $ 40,917,849 $ 43,521,937 $ 1,427,028 3%
FY 2026 COMPREHENSIVE ANNUAL BUDGET-CRA NEIGHBORHOOD POLICING PROGRAM
Category FY 2025 QTY Notes
Personnel FY 25-26 FY 26-27
Officer Salaries&Incentives" 450,652 4 467,023 Salary,Education Incentive
Officer Benefits-Pension 275,528 4 291,387 Pension
Officer Benefits 92,277 4 92,114 Healthcare,Dental,Vision,FICA
Officer Overtime 100,000 4 107,650
Proposed Sergeant Salary&Incentive 244892 1 265,790 Salary,Education Incentive(AVG)
Total Personnel Costs $1 163 349 $1 223 964
Operating Expenses
Cell Phones Service Plan 4,456 4.75 5,000 Cell Phones for CRA Officers
Office Supplies/Misc Supplies 3,000 3,150 Office Supplies(incl printer/copier)
Office Electric,Cable/Internet,water/sewage 13,000 12 13,650 Monthly Operating Cost
Office Space Monthly Maintenance 2,250 12 2,500 AC Filters/Repairs etc.
Office Cleaning 2,250 12 2,500 City Cleaning Crew
Uniform 3,469 4.75 4,000 Uniforms,belts
Community Events/Promotions 7,000 1 7,350 Youth Programs
Training 10,094 4.75 10,600 CPTED,STEP academy
Total Operating Expense $45,519 $48,750
MEM
Misc.Equipment-As needed 5,000 1 5,500 Misc.Equipment
Volcanic 2024 Approach Patrol Bike 2
Volcanic Frame Bike Patrol Bags 4
Niterider Digital Patrol LED Police Bike Liight 4
Niterider Police Tail Light 4
Total Equipment Costs $5,000 $5,500
Total Proposed Program Expenses $1,213,868
IFY 2026 ILA Amount
1
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 2026-2027 f-'`‘ zuzb-2026 I FY 2024-2025
Original Amended
Dept.# Funding Source Budget 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 20058)-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 2026-2027
As of: June 2026
1. !ASSESSED VALUATIONS I
V
I FY 2025-2026 FY 2026-2027
(ASSESSED VALUES I I $ 2,572,358,368 $ 2,677,773,123
Estimate Estimate
As of: 6/26/2025 As of: 6/26/2026
Chg.from Prior Year $ 166,941,369 Chg.from Prior Year $ 105,414,755
6.9% 3.9%
2. (TAX INCREMENT REVENUE -ESTIMATED FOR NEW BUDGET YEAR I
V
IFY 2025-2026 I FY 2026-2027 Estimates
Assessed Values $ 2,572,358,368 $ 2,677,773,123
Less Base Year Value 309,821,849 309,821,849
TIR Taxable Value 2,262,536,519 2,367,951,274
95%of Difference $ 2,149,409,693 $ 2,249,553,710
(Per Florida Statutes
Chapter 163.387(1)(a) I Assumptions I Assumptions
Redevelopment Trust Fund) I No Millage Change
City&County ' I
Millaae Rates
City 7.7500 7.4257
County 4.5000 4.5000
%of %of
Tax Increment Revenue Total TIR Total TIR
City $ 16,657,925 63% $ 16,704,511 62%
County $ 9,672,344 37% $ 10,122,992 38%
Sub-Total $ 26,330,269 $ 26,827,503
1.0%for True-Up $ 263,303 1%for True-Up $ 268,275 1%for True-Up
Net TIR $ 26,066,966 $ 26,559,228 1
A
Budgeted Budgeted
'Change from Prey. Year $ 1,686,333 $ 492,262
% I 6.9% 1.9% i
City Manager
CRA Chief Executive Officer
I
I
CRA Executive Director
Deputy City Manager / Dual Rote
l
CRA Deputy Executive Director
City Operations ILA Development Director/ Dual Role
Finance
Procurement
Clerks Office Director of Special Project
Human Resources
4 ► Deputy City Manager /Dual Role
Information Technology
Legal/Risk
4 4
CRA Director of Development CRA Director of Economic
CRA Finance Director CRA Admin. Coordinator
Services Development
1 1
Development Services Business Development
Specialist Manager
1
Business Development
Coordinator