Agenda 07-24-03I. Call to Order.
COMMUNITY REDEVELOPMENT AGENCY
Tuesday, July 24, 2003
Library
Boynton Beach
6:00 P.M.
~'t'. Roll Call.
III. Agenda Approval:
IV.
V.
Consent Agenda.
Public Audience.
VI. Public Hearing
VII. Director's Report:
VIII. Old Business:
IX. New Business:
A. Workshop on 2003-2004 CRA budget
Other Items:
XI. Adjournment.
Any person who decides to appeal any decision of the Community Redevelopmem Advisory Board with respect to any matter
considered at this mee[ing will need a record of the proceedings and for such purpose may need to ensure that a verbatim record of
the proceedings is made, which record includes the testimony and evidence upon which the appeal is to be based.
The CRA shall fumish 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 Douglas
Hutchinson at 561-737-3256 at least twenty-four hours prior to the program or activity in order for the CRA to reasonably
accommodate your request.
Community Redevelopment Agency
2003~2004
Budget
with
2004 to 2008
Budget Forecasts
City of Boynton Beach CRA
639 E. Ocean Ave., Suite 107
Boynton Beach, FL 33435
561-737-3256
City of Boynton Beach
Community Redevelopment Agency
Budget Projections
06~24~2O03
Please find attached the first draft of the CRA Budget for October 1, 2003 to
September 30, 2004. Staff has proposed a five-year budget forecast with income
and expense items as well as program and projects. The programs are defined
as proposed "Implementation Vision Programs" to upgrade the quality of
development within the CRA Area.
The following notes highlight all major items within the budget in an attempt to
provide insight as to their origination and future destination. All budgeted items
may be considered individually or as a group for discussion. Please review and
give direction to staff.
TIF Revenue: The Revenue is based upon actual tax appraiser offices 2003
values and the projections of projects coming on line between the years of 2003-
2008. The CRA TIF income is derived by two factors; first is the "New
Construction" within the district. This is generated by new projects. The CRA
captures the difference between the base evaluation 2002 and the new
appraised value. These increments are generally depicted as "Projects". The
second area of TIF revenue is generated from Real Estate appreciation in the
CRA District. For 2003/2004 the appreciation is very substantial; 14.2% or
$57,885,483.00 in tax base. Staff has discounted the tax collectors percentage to
make allowance for exemptions and disputed adjustments; therefore we are
projecting an 11% increase. Staff is forecasting a dropping appreciation rate for
the five-year forecasts due to concerns about sustaining the appreciation
increase in the future market place.
Projects: Projects with a (*) are projected to qualify for direct incentives. Projects
incentive impacts are figured at the maximum incentive. Projects statuses are
projects publically announced, in site plan approval, approved or permitted.
Appreciation:
evaluation in
evaluation.
The appreciation
the CRA for the
is generated by taking the entire tax base
previous year subtracted for the current tax
Each taxing entity that contributed to the Boynton Beach CRA is listed
separately. Note hat the CRA receives 95% of the increment taxes from each.
(See detailed Spread Sheet on page 4 of Excel)
Recapture of TIF Loan Principle: The TIF money from the proposed Arches
Incentive to repay the proposed Incentive Loan.
TIF Loan Interest: Interest paid by the Arches on the proposed TIF Loan figured
at 2%.
Interest Income on Reserves: Interest the CRA receives from investing reserve
funds.
Personnel: This budget category includes four positions, Executive Director,
Administrative Assistant, Controller and Secretary with the Assistant Director
scheduled to be added in 2006-2007. The attach spreadsheet includes salary,
taxes, workers compensation, health insurance, life insurance and retirement for
all positions for the years 2003-2008.
Three of these positions are currently budgeted and advertisement has been
placed for the Secretary Position.
This year's budget reflects proposed salary adjustments of $8,000.00 Executive
Director, $8,500.00 Controller, $8,000.00 Administrative Assistant and a new
Secretary position of $20,000.00
Future years reflect a 3% average annual increase in wages.
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PERSONNEL 2003-2004
Director
Controller
Administrative Assistant
Secretary
Annual
Salary
$ 88,000.00
$ 48,500.00
$ 43,OOO.OO
$ 20,000.00
Employers Workers
FICA Comp
7.5% $ 38.00
$ 6,900.00 $ 456.00
$ 3,637.50 $ 456.00
$ 3,225.00 $ 456.00
$ 1,500.00 $ 456.00
Health
Insurance
$ 350.0O
$ 4,200.00
$ 4,200.00
$ 4,200.00
$ 4,200.00
Life
Insurance
$ 15.00
$ 180.00
$ 180.00
$ 180.00
$
SEP
IRA
5%
$ 4,000.00
$ 2,375.00
$ 2,000.00
$
03-04
$103,436.00
$ 59,348.50
$ 53,061.00
$ 26,156.00
Total
PERSONNEL 2004-2005
Director
Controller
Administrative Assistant
Secretary
$199,500.00
Annual
Salary
$ 90,640.00
$ 49,955.00
$ 44,290.00
$ 20,600.00
$14,962.50 $ 1,824.00
Employers Workers
FICA Comp
7.5% $ 38.00
$ 6,798.00 $ 456.00
$ 3,746.63 $ 456.00
$ 3,321.75 $ 456.00
$ 1,545.00 $ 456.00
$16,800.00
Health
Insurance
$ 381.50
$ 4,578.00
$ 4,578.00
$ 4,578.00
$ 4,578.00
$ 540.00
Life
Insurance
$ 15.00
$ 180.00
$ 180.00
$ 180.00
$ 180.00
$ 8,375.00
SEP
IRA
5%
$ 4,377.50
$ 2,497.75
$ 2,214.50
$ 1,030.00
$242,001.50
04-05
$107,184.00
$ 61,413.38
$ 55,O4O.25
$ 28,389.00
Total
PERSONNEL 2005-2006
Director
Controller
Administrative Assistant
Secretary
$205,485.00
Annual
Salary
$ 93,359.00
$ 51,453.65
$ 45,619.00
$ 24,218.00
$15,411.38
$ 1,824.00
Employers Workers
FICA Comp
7.5% $ 40.00
$ 7,001.93 $ 480.00
$ 3,859.02 $ 480.00
$ 3,421.43 $ 480.00
$ 1,816.35 $ 480.00
$18,312.00
Health
Insurance
$ 416.50
$ 4,998.00
$ 4,998.00
$ 4,998.00
$ 4,998.00
$ 720.00
Life
Insurance
$ 15.oo
$ 180.00
$ 180.00
$ 180.00
$ 180.00
$10,119.75
SEP
IRA
6%
$ 4,508.83
$ 2,572.68
$ 2,280.95
$ 1,210.90
$252,026.63
05-06
$110,686.88
$ 63,543.36
$ 56,979.38
$ 32,903.25
Total
PERSONNEL 2006-2007
Director
Assistant Director
Controller
Administrative Assistant
Secretary
$214,649.65
Annual
Salary
$ 96,160.00
$ 55,000.00
$ 52,997.26
$ 46,987.00
$ 24,944.54
$16,098.72
$ 1,920.00
Employers Workers
FICA Comp
7.5% $ 42.00
$ 7,212.00 $ 504.00
$ 4,125.00 $ 480.00
$ 3,974.79 $ 504.00
$ 3,524.03 $ 504.00
$ 1,870.84 $ 504.00
$19,992.00
Health
Insurance
$ 454.00
$ 5,448.00
$ 4,998.00
$ 5,448.00
$ 5,448.00
$ 5,448.00
$ 720.00
Life
Insurance
$ 15.00
$ 180.00
$
$ 180.00
$ 180.00
$ 180.00
$10,573.36
SEP
IRA
5%
4,5O8.83
2,649.86
2,349.35
1,247.23
$264,112.86
06-O7
$114,312.00
$ 64,603.00
$ 65,753.92
$ 58,992.38
$ 34,194.61
Total
PERSONNEL 2007-2008
Director
Assistant Director
Controller
Administrative Assistant
Secretary
$276,088.80
Annual
Salary
$ 99,045.00
$ 56,650.00
$ 54,587.18
$ 48,397.00
$ 25,692.88
$20,706.66
$ 2,496.00
Employers Workers
FICA Comp
7.5% $ 42.00
$ 7,428.38 $ 504.00
$ 4,248.75 $ 504.00
$ 4,094.04 $ 504.00
$ 3,629.78 $ 504.00
$ 1,926.97 $ 504.00
$26,790.00
Health
Insurance
$ 500.00
$ 6,000.00
$ 6,000.00
$ 6,000.00
$ 6,000.00
$ 6,000.00
$ 720.00
Life
Insurance
$ 15.00
$ 180.00
$ 180.00
$ 180.00
$ 180.00
$ 180.00
$10,755.27
SEP
IRA
5%
$ 4,644.09
$ 2,832.50
$ 2,729.36
$ 2,419.85
$ 1,284.64
$337,855.90
07-08
$118,109.63
$ 70,415.25
$ 68,094.58
$ 61,130.63
$ 35,588.49
Total
$284,372.06
$21,327.90
$ 2,520.00
$30,000.00
$ 900.00
$13,910.44
$353,338.57
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Professional Services: The following services, studies, etc are proposed:
Legal - The CRA is budgeting $44,000.00 for 2003-2004 Legal Services
based upon the average of $3,337.00 per month. Legal Service spending
was an average of $3,717.00 per month for 7 months in 2002-2003.
City Staff - The CRA has retained the services of the City Clerks Office
for recording the minutes. The budget of $6,000.00 was based upon the
average of $500.00 per month. The City Staff average for 2002-2003 was
$500.00 per month for 5 months.
Contractor Services - The CRA will retain contracted service for projects
specified in the 2003-2004 Budget and projected projects for the 5-year
budget. The following projects are set to start in 2003-2004:
BBB Redevelopment Study
Design Overlay Guidelines
Downtown Parking Need Analysis
Miscellaneous
$ 36,000.00
$ 75,000.00
$ 35,000.00
$ 24,000.00
Boynton Beach Boulevard study is the completion of work started under
the RPMK Contract in 2002-2003.
The Design Overlay Guidelines in the completion of work started under
the RPMK Contract in 2002-2003.
Downtown Parking Needs Analysis: The CRA is proposed to secure
surface parking for the general public and constructed a potential parking
deck for future growth in the CBD. The Parking Needs Study would be
used to quantifiably define potential general public parking needs.
Audit - The CRA will enter into a contact with an outside CPA firm for our
Outside Audit in July 2003. This contract will carry forward for a period of
three years with an extension of two years available. The base fee is
projected at $5,900.00 for 2003, 2004 and 2005 with an extension for
2006 and 2007. Staff is also proposing to leave $1,600.00 in the event
extra services are needed for year one and $2,600.00 for years two and
three as needed.
4
Maintenance and Cleaning - The category of Maintenance and Cleaning
will include cleaning of the CRA offices, repair and maintenance of the
equipment and offices. The maintenance and cleaning was calculated at:
$150.00 per month x 12
Repair on Equipment
Repair on Office Space
Total
$1,800.00 per year
$ 500.00 peryear
$ 500.00 peryear
$2,800.00
IT Support - City's IT Department will provide for support, service and
maintenance for our computer hardware, software and internet as per the
approved 2003 contract. The budget for 2003-2004 contains:
City of BB IT support
Carillon Accounting Software
Total
$12,360.00 per year
$ 1,000.00 per year
$13,360.00
Office Lease / Utilities: The CRA is now leasing offices from Gene Moore with
the office, conference area and workspace within the same room. The CRA is
planning to move into new offices in Year Two with a projected lease space rate
of $24.00 per square foot for 3,000 square feet for three years. The phone,
electric, water, sewer and trash have been calculated with this move in future
plans.
Rent:
Year 1 Rent & CAM $1,176.00 x 12 = $14,112.00
Year 2 move offices 3,000 Sq Ft. x $24 per Ft= $72,000.00
No increase years 3 through 5
Phone:
Cell phones $100.00 x 12=
T-1 line $230.00 x 12=
Phones $300.00 x 12 =
Total Phone
5% increase years 2 through 5
$1,200.00
$2,760.00
$3,600.00
$7,560.O0
Electric:
Electric average per month for 7 months of 2002-2003 = $156.25
Year 1 Electric $156.25 x 12 = $1,875.00
Year 2 double electric due to CRA move to new office space.
5
Equipment Leases: The CRA is now leasing the copier and the postage
machine. The contract on the copier is a three-year contract and the postage
machine is a year-to-year contract.
Copier $343.00 per month - three year lease
ends 10/05 $ 4,117.00
Postage $19.95 per month - one year lease
ends 06/04 $ 239.00
Total Equipment Lease $ 4,356.00
Projecting a $100.00 per month increase in copier starting 10/05
in increased usage.
Insurance: The CPA's General Liability Insurance includes coverage for
Activities, Festivals and Events. The property insurance covers the contents
within the CRA office. The CRA also carries a Surety Bond and Professional
Insurance for the CRA and employees.
Property/General Liability $ 1,438.00
Surety Bond $ 350.00
Professional $ 3,900.00
Total Insurance $ 5,688.00
Insurance is calculated at 10% increase years two -five.
Travel /Entertainment: Travel, Business Meetings and Work Shops- The
CRA attends business meetings with Developers, Community Groups and
Professional Organizations to promote the work of the CRA and the betterment
of the City of Boynton Beach.
Staff is projecting six CRA Board Workshops throughout the 2003-2004 year with
one large meeting proposed announce several projects within the same area will
be held.
It is proposed that the CRA attend the Annual Florida Redevelopment
Association Conference scheduled October 2003 in Tampa Florida. Staff and
Board Members will attend the conference in order to increase and update their
knowledge of redevelopment and emerging issues and trends in Florida.
The Florida Government Financial Officers Association (FGFOA) Conference,
which is held in November 2003 in Sarasota, will be attended by the Controller in
order in increase and update her knowledge on Government Finance in Florida.
There will also be one Career Development Conference throughout the year.
The CRA will be obtaining information on several delivery services for package of
the CRA in order to obtain the best price.
6
Promotional/Business Meetings
Promotional / Business Meeting $400.00 per month
for 02-03
CRA Meetings / Events Workshops
Association Meetings
Total Business Meeting
With an increase in Years Two thru Five
$ 4,800.00
$ 3,000.00
$ 504.00
$ 8,304.00
Seminars
Florida Redevelopment
Association
Conference Registration
Room
3 Meals per day x 3 days
Miles 360 x $ .31
7 people with a room for each and 3 meals
a day for 3 days and two cars driving
7@ $ 275.00 $ 1,925.00
7@ $ 135.00 $ 945.00
7@ $ 41.00 $ 861.00
2@ $ 0.31 $ 223.20
$ 3,954.20
Seminar(s) TBD
Registration
Hotel
Meals
Air Fare
Miscellaneous
1 person with a room, 3
days, and air travel
$ 375.00
$ 15o.oo
$ 41.00
$ 600.00
$ 200.00
meals a day for 3
$ 375.00
$ 450.00
$ 123.00
$ 600.00
$ 200.00
$ 1,748.00
FGFOA-School of
Government Accounting
Registration
Hotel
Meals
Miles
1 person with a room, 3
days, and one car driving
$ 185.00 $
$ 11o.0o $
$ 41.00 $
$ 0.31 $
$
meals a day for 5
185.00
550.00
205.00
93.00
1,033.00
Total Seminars
$ 6,735.20
Mileage & Delivery Services
$90.00 average per month for 02-03
Total Mileage & Delivery Services
$ 1,080.00
$ 1,080.00
Car Allowance Director
$138.46 x 26 = $3,600.00
Total Car Allowance Director
$ 3,600.00
$ 3,600.00
Office Supplies: The CRA Board supplies, office drinks, paper products and
cleaning supplies are accounted for under Office Expense.
Office Expense board supplies, drinks, paper
products, cleaning products 02-03 $875.00 =
$125.00 per month.
$ 1,500.00
Office Supplies related to pens, paper, disk, ink and general office
products within the Office Supplies category.
Office Supplies- pens, paper, disk, ink, paperclips
and general office products.02-03 $4375.00 =
$625.00 per month.
$ 7,500.00
Total Office Supplies
$ 9,000.00
Licenses, Membership & Subscription, Books & Publication: The CRA will
incur expenses for licenses, fees or permits which are not project related. The
CRA also uses several publications in general every day operations, for grant
sources, business incubator ideas and trends for redevelopment within CRA
Areas.
Memberships / Subscription
Chamber of Commerce BB
Costco Membership
FRA
ULI
CD Publication
Chronicle of Philanthropy
Palm Beach Post
Sun Sentinel
Dailey Business Review
PB Convention Board of Director Position
Realtor Society
Calculated 5% increase per years two - five
$ 250.00
$ 80.00
$ 495.0O
$ 475.00
$ 475.00
$ 69.50
$ 103.25
$ 156.52
$ 172.00
$ 750.00
$ 290.00
$ 3,316.27
Advertising & Public Notices: During the year, the CRA will need to advertise
and place public notices, which are not project related, for the general needs
such as workshops, ordinances, etc. Last year's budget of $4,000.00 has been
proposed for 2003-2004.
Career Development: The CRA is proposing $4,000.00 for career development
of the CRA Staff.
8
Office Printing Expense: The CRA is proposing a newsletter and information
flyers on CRA projects. The CRA produces project briefing books broken down
into North and South Federal Highway, Boynton Beach BIvd, Heart of Boynton
and the Central Business District. This line item is for information and booklets
that are kept on hand as inventory. These Books include: 20/20 vision, Federal
Highway, HOB, BBB Corridor, Ocean District, Design Guidelines and GIS maps.
Debt Service/Loan Payment: The CRA has a loan with Bank of America. The
starting balance as of October 1,2003 is $2,616,244.49 at 6.56% interest rate.
Bonds: The CRA will be consulting with a financial advisor as to the best
instruments to fund the programs and projects that the CRA has budgeted.
However, three bond issues over the next five years are proposed to meet
projected CRA cash needs. Debt costs include issuance and placement at 3%, a
required sinking fund at 10% and principal and interest payments.
PROGRAMS
Office Equipment/Furniture: The CRA will need a computer for the Secretary
along with a printer and a printer for running direct print checks with special inks.
Staff has also budgeted dollars for office equipment replacement cost as needed.
The CRA will need additional equipment in year two due to the office move.
Office Leasehold Improvements: The CRA is proposed to move their offices in
year two. Staff is anticipating a cost to improve and / or adapt the new offices to
meet the needs of the CRA.
Web Site - Update Expansion: The CRA started the website in 2002-2003 with
the basic designs and some features. The CRA is proposing to expand our web
site to include graphics on projects and links to projects sites, links to the City of
Boynton Beach, and other advanced features in 2003-2004 and 2004-2005. Staff
has also budgeted the cost to maintain the site.
Printing Programs: The CRA will begin printing brochures, annual reports,
special projects books, articled reprints, etc.
Police: The Boynton Beach Police Department provides a considerable amount
of basic services for the CRA area today. However, as growth and further
development increase, businesses and residents within the CRA area have
expressed additional desires for expanded services. It is proposed that the CRA
underwrite the following two programs at $175,000.00 each for the initial year.
Heart of Boynton
The Police Department has plans in the immediate future to adjust
staffing levels in one of the zones that is fully within the designated "Heart
9
of Boynton" boundaries. The CRA may want to consider extraordinary
coverage due to special conditions with that area.
Zone three is that area within the CRA bounded by the C-16 canal on the
north, Boynton Beach Blvd. on the south, 1-95 on the west and the ICW on
the east. This is an area that for many years experienced a high volume of
police activity and calls for service. In the past, it was noted for being one
of the worst areas in the county for violence and dreg dealing. In calendar
year 2002, Zone three posted a decrease in index crime of 9%
compared with calendar year 2001. This was the second year in a row that
Zone three posted a decrease in crime. Much progress has been made in
this area: improved police/community relations, reduction of crime and an
increase sense of safety on the part of residents. Unfortunately, due to the
increases in offense frequency and calls for service noted in other areas of
the city, the Police Department will be redeploying officers in the
immediate future, and will no longer be assigning two officers to Zone
three. However, to assure that there is no backsliding with crime stats the
CRA wishes to enhance the coverage in Zone three with an initial budget
of $175,000.00.
Central Business District
With the increase in development in the downtown area, many business
owners and residents have inquired as to whether the Boynton Beach
Police Department will be creating a foot or bike patrol zone in that district.
Experience has shown us that for citizens who live, work and conduct
business in the heart of our cities, police foot patrol officers provide a
positive perception of safety and the severity of the crime problem in a
given area. Generally speaking, surveys throughout the county confirm
that when foot patrol is added to an area, citizen's fear of typical street
crimes goes down and generalized feelings of personal safety go up. We
were therefore, not surprised when developers, business owners and
potential business owners expressed a desire to see officers on foot in the
soon to be redeveloped downtown and marina districts.
The influx of visitors to the downtown and marina redevelopment areas
will likely result in an increased demand on police services and an
increase in the rate of property and violent crime. This will necessitate an
additional commitment of manpower to the area, ideally, in the form of foot
& bike patrols. Foot and bike patrol coverage for the downtown and
marina districts would facilitate a police presence during times of peak
pedestrian and vehicular traffic and nighttime security for businesses and
residents.
For this particular enhanced service, the CRA is proposed to initially fund
only two or three officers for this post and assigning those hours that cover
10
the hours of highest concern - primarily night-time hours. The budget is $
175,000.00
11
Transportation / Trolley: The CRA is proposing a trolley system to help move
people around the CBD to avoid the congestion within high density areas. We
have a proposal for Mollies Trolley which provides trolleys for West Palm Beach
and Avoca in Jupiter.
Mollies Trolleys, a minority owner and operated business, is proposing a shuttle
which would run up to 7 days a week with quality vehicles, high caliber rivers and
a strong management team for support. All of their vehicles are the correct
passenger size to move substantial number of passengers but is nimble enough
to maneuver around downtown. They are fully licensed and insured.
They are proposing a rate of $55.00 per hour for 10 hours per day.
Leased Trolley:
5 days per week, 10 hour days
6 days per week, 10 hour days
7 days per week, 10 hour days
Day Week Year
$550.00 $2,750.00 $143,000.00
$550.00 $3,300.00 $171,600.00
$550.00 $3,850.00 $200,200.00
Exact scheduling will be developed with the area businesses and parking needs
assessment.
Purchase:
Staff is also exploring the possible purchase of a trolley ($45,000.00 to
$75,000.00) and having the Parks and Recreation Department provide the trolley
maintenance, cleaning and repair; driver supervision, management, training and
payroll; insurance ($5million), fuel and reports.
The budget, regardless of which program, leasing or ownership, is $150,000.00.
Festivals/ Events/ Business Programs Events: The CRA is proposing four
events per year within different areas of the CRA. For 2003-2004 the events will
be held; A Holiday Event $7,500.00 on Ocean Ave., The Heritage Fest in 2004/
2005 $7,500.00 on MLK Blvd. and the Wheels Weekend $7,500.00 on Ocean
Ave. The Scuba Fest $7,500.00 in the Marina Area is proposed to be created in
the 2004 / 2005 year budget.
Awards Program: It is proposed that the CRA look into developing an awards
program in the CRA.
Facade Grants: The CRA will continue the Facade Grant program. This program
was established as a matching grant program for dollar for dollar matching up to
$15,000 per project. This program was well received as demonstrated by the five
applicants and three approvals in the 2002-2003 year. The CRA's $75,000.00
has encouraged $843,535.00 in Private Sector investment. The enhancement of
14
existing commercial buildings ensures a complete unified look in the City of
Boynton Beach.
Geniuses Business Development and Grant Program Grant: The CRA is
proposing initiation of a business program to help local business compete in the
changing redevelopment environment. The proposed program will be designed to
measure development impact on business; before, during and after
redevelopment activities. The program will also facilitate, encourage
reorganization and identification of core competency of Targeted Businesses in
the Central Business District and the Heart of Boynton District in order to ensure
that achieve a competitive level once the proposed redevelopment for those
areas are realized.
The CRA has assumed the County's Development Regions Grant Program for
the Boynton Beach CRA Area. This is a matching grant program for business
development and job creation in conjunction with Palm Beach County Economic
Development Department. Generally the match is 1/3 Applicant, 1/3 CRA and 1/3
County. The CRA set aside funding in Both
Direct Incentives: The Direct Incentive Program is the CRA's primary
development incentive program that is in support of the best of the best projects.
It is proposed for 2003/2004 that the Direct Incentive Program include an
Affordable Access component within the scorings. This element will be required
for projects to qualify for incentives. Other adjustments proposed are to require
larger site (2 acres or 87,129 Sq Ft) projects to include "Public Amenities".
Direct Incentives are generally paid after the project has appeared on the tax
assessor's tax roles. The budget line item projection reflects the maximum
potential incentive per project, therefore incentive cost maybe less if scoring does
not meet full impacts.
Direct Incentive Loan: The Direct Incentive Loan program is a request for
upfront loading on the Direct Incentive request. This one time loan has had
conditional approval by the CRA Board in April 2003. Final approval is conditional
on document presentation and review by the CRA Board and the Applicant.
PROJECTS
BBB/Riverwalk / Promenade Projects: Projected 2003 / 2004 construction of
the Boynton Beach BIvd Extension / Promenade Riverwalk / and Design Build
Project.
HOB Commercial Land Acquisition: The CRA will target key properties for
acquisition in support of redevelopment in the Heart of Boynton area.
15
HOB Improvements / Street / Garage: Proposed future expenditures in support
of potential private development activities in the Heart of Boynton District. These
are proposed to include MLK street reconfigurations and public / private parking
facility.
Way-Finding Signage: This phase of the Sign Program is to begin signage
placements. Signs will support local Business Districts, City Attractions and
Facilities, Public Parking and Transportation linkage points.
Marina Parking Garage: Proposed garage to provide 70 spaces for both general
public and vale parking in the Marina District. The estimated cost would be
recovered in less than one year by the increase in land values from the new
marina project. TIF Revenue would be in the range of $1,000,000 per year for the
Related Marina Project with the cost of the proposed garage parking estimated at
$1,050,000.00. ($15,000.00 x 20 spaces)
CBD Parking Site: Proposed surface parking spaces to be secured for
unrestricted free public use. The lot is Phase I of a Parking Plan to meet general
public parking in the Central Business District.
CDB Parking Garage 400 Public Spaces: Proposed Phase II Parking deck
spaces providing approximately 400 unrestricted free public spaces.
($4,175,000.00 @ +/- $12,000.00)
Savage Creatures Complex: Proposed as the next step for the Savage
Creatures of Ancient Seas Complex.
Historic High School Project: Proposed as support of the rehabilitation of the
High School in the Town Square / Arts area of the CRA. This site could be a
potential alternative site for office space for the CRA.
Miscellaneous Projects:
16
Business "Genesis" Program
Premise: The "New Urbanism" many times lacks the reality of providing for
extenuating needs that were traditionally incorporated in the "Main Street" contexts.
These needs have been pushed aside for Boutique shops, services, etc. Often needs
based producers of services supplied by existing businesses are removed from
redevelopment areas in favor of Boutique stores.
Development codes exclude "Needs Based" Businesses instead of creatively
incorporating them into the new redevelopment fabric. The trend to remove local
existing Businesses is fueled by the fact that many of those Businesses affected by
redevelopment do not evolve with redevelopment markets trends, etc. Therefore the
two fold impact of redevelopment change and lack of response by existing "needs
based" business is catastrophic.
Mission: Create a program that allows measurement of redevelopment impact on
business; before, during and after redevelopment activities. Facilitate, encourage
reorganization and identification of core competency of existing Businesses in the
Central Business District and the Heart of Boynton District in order to ensure a
competitive environment once proposed redevelopment for those areas is actualize.
Program Description: The CRA proposes a Business Development program that is
multifunctional. The program is first concerned with the maintenance and survival of the
existing Businesses in the areas targeted for Redevelopment. Secondly generate a
realistic assessment of how redevelopment truly affects local businesses in the CRA
Areas.
In light of the proposed redevelopment of the CBD and Heart of Boynton areas; The
Business Development program is designed to identify the strengths and weaknesses
of individual business and design tools that if followed will help to secure a future in the
area and compete effectively with new businesses that relocate to the area. Develop a
business awareness of changing trends, demographic needs, opportunities, etc. of the
impending redevelopment.
The CRA invasions the design, funding and implementation of this program to be a Joint
Venture among several partners. Some Partners that have initially been identified are
the Center for leadership Excellence, Palm Beach Community College Florida
Association for Micro Enterprise, Inc. and North Wood University.
Program Design
Phase I: Determine Element Responsibility, Funding Sources and Budgeting
Program Scope, Goals and Objectives Development - CRA
Development of Program Evaluation Criteria-CRA/
Development of Program Evaluation Periods-CRA/
Program Announcement Launch -Sponsorship Funds
Needs Assessment Design and Data Collection - Palm Beach Community
College
Survey Results Tabulation and Program Elements Development- CRA
Specialized Business Consultations - CRA
Specialized and Common Program Development CRA
Specialized Program Implementation-CRA Core Grant
Common Program Implementation -CRA Core Grant
Follow up survey to measure impact analysis of survey. - CRA /
Phase II.
Design Assessment Tool Survey
Palm Beach Community College Graduate "Needs Assessment" Course
has been identified as a source for the development and collection of the
survey tool. The students taking this course will used a guided list of
questions to design a survey tool. The survey tool will be design to identify
current good and bad trends, over all performance, and needs of each
business. This will be followed up with one on one assistance to ensure
completion.
Phase II1:
Identification and Selection Participants
Approximately 20 to 50 businesses in the CRA Geographic Area will be
identified and asked to attend a formal launch of the Genesis Business
Program. Attendees will get an overview of the program and an invitation to
participate. During the launch each attendee will be given a survey tool
along with detailed instruction for its completion.
Phase IV Compilation of Current Business Status and Needs Assessment
Identification
1. Collection One on One Interviews
2. Tabulation
3. Analysis and Interpretation of Data
4. One on One Review of Results
Phase V Design of program that addresses Common and
Individual Needs
Phase VI Work with Business owner on implementation of programs
Phase VII Development of Program Evaluation Criteria
Phase VIII: Development of Program Evaluation Periods ]. Current Status
2. Year One
3. Year Three
4. Year Five
Phase IX: Follow up surveys to measure impact.
Program Time Line:
Subject
Program Scope Development
Proposal and Budget Development Sole Source Contracts
Set Up Internship Program with Local Universities
Survey Tool Design
Development of Program Evaluation Criteria
Development of Program Evaluation Periods
Program Launch Event
Identification of Business Participants
Survey Administration & Collection
Result Tools Development
One and one work with Business Owners
Assignment of Interns to Local Businesses
One on One administration of Result Tool
Start Date
July 2003
August 2003
September 2003
October 2003
October 2003
October 2003
October 2003
October 2003
November 2003
November 2003
February 2004
May 2004
March 2004
Group administration of Common Program
Follow Up Survey (Impact Measurement of first year)
March 2005
October 2006
Budget
Program Launch Event
Promotion
· Catering
· Location
· Printing
Program Delivery Cost · Survey design
· Survey distribution
· Survey one on one completion & Business Assessment
· Program Tool Development
· One on one work with Businesses
· Group Administration of Common Programs
Impact Measurement · Survey Design
· Survey one on one completion & Business Assessment
· Analysis
· Results
MEMO
TO :
FROM:
SUBJECT:
DATE:
CRA Board
Susan Vielhauer
Grant Program and Use
July 18, 2003
As per the request of the City of Boynton Beach, the CRA has taken over the
administration of the County Economic Development Grant.
The Economic Development Grant program is designed to stimulate economic
growth and increase business opportunities in or adjacent to designated blighted
areas of Palm Beach County. These areas are distinguished by high to very high
percentages of poverty, Iow total per capita income and high employment. The
goal is to encourage economic investment and diversification in the community,
increase job growth and entrepreneurial opportunities, revitalize commercial
districts and focus on positive human resource development to improve human
resource development to improve the quality of life.
The CRA will be using this grant in conjunction with the Business Genius
Programs for job generation. This Economic Development Grant program is
based upon $10,000.00 per one full-time equivalent job creation and retention of
that job for 24 months after Grant is completed. The grant is matched with 1/3
County funds, 1/3 CRA funds as a match, and 1/3 applicant funding.
Memo
To:
From:
Subject:
Date:
CRA Board
Douglas Hutchinson
Downtown Parking, Traffic Management, Security, and Garage
July 17, 2003
As Boynton Beach turns from the rural/suburban setting in the Downtown to an
urban density, many aspects of the roles of the public and private sectors will
dramatically evolve. One is the emerging of the need to manage public spaces,
access, parking, security and transportation. The good news is that Boynton has
the ability to address these issues early in the redevelopment through the CRA
before they become negative issues.
It should be noted that these issues are not things that might happen but rather
are "givens" in Downtown Development. Also gone is the concept that one
private group or entity is responsible for the tasks described. The highest density
areas must have coordination and direction from all stake holders in order to
work.
The concepts of developing public/private urban amenities are not optional, and
are designed to address the overall area. Perceptions of conditions are what
shape the public's image of an area. The plan should be addressing what a
client, visitor, etc. experience in the area.
CBD has been working on a public parking program and as defined in the 20/20
Plan, which has as its centerpiece the Congregational Church site at Federal
Highway and Boynton Beach Boulevard/Ocean Ave. Through direct contact, the
church asked for the opportunity to stay in the Downtown instead if being
relocated out of Downtown. In addition to the Church site, the adjacent Kaleel
property and a few other properties were recommended for condemnation for
assembly as a parking site. These property owners have been encouraged to
redevelop. The result is an owner driven Redevelopment Plan for the block.
This Plan incorporates the public parking needs in phases from surface parking
through a parking garage with ultimately free public spaces in the range of 400.
The church land appraised for $50.00 per square foot and the value is supported
by several comps in the area. The appraisal valued the property as land only, no
building structure value. The total price for the south church lot and parking is
$2,000,000. The new value for the north parking lot would be $789,400. It
should be noted that the earlier appraisals were based on limited number of
stories. The new appraisal starts over and uses an entirely new appraisal
process which takes into account the 150 height and new densities therefore, the
price per usable level or floor comes to around $15.75 per square foot. This
would make the total value of the church properties approximately $2,800,000.
The old values were $1,500,000 for the church lot with parking and $190,000 for
the north parking lot.
I believe that we can secure parking rights for the surface lot and then a parking
deck in a single contract constructed in a two phase process. First the surface
lot rights for +/- $1,750,000 cash plus a portion of the former FEC site for
redevelopment which the City now owns, and later, at our option, a parking deck
with 400 public parking spaces fully maintained for $3,000,000 or a total cost of
+/- $4,750,000 (400 spaces at $12,000 cost including land). The public would
have free access, no maintenance costs, etc. The CRA would not have to
acquire the land and deal with bidding out project(s) to have the parking built.
This saves the CRA about $1,000,000, and we do not have to relocate
businesses or churches which would be additional costs. All in all, I think the
final savings could be around $2,000,000 plus maintenance savings.
The local property owners are signing agreements amongst themselves so that
each can be part of the new project. The church and hardware store are
anticipated to remain, but be redeveloped in the project. The project is driven by
private property owners and development. We are simply securing free public
parking. I know there will be more details, but what do you think about the
concept?
Marina District
The CRA in combination with Marina Property Owners, Businesses, BODA and
the City have created a concept for the first phase of a CBD plan for f the Marina
District. This district is the first area in the CBD to begin construction and
urbanization. The elements include: parking (surface and garages) security and
transportation. The Related Group has consented to the CRA contributing to a
parking garage expansion of 70 more cars, the cost estimates were given at
$15,000 per space on +/- $1,050,000 in costs. Other issues such as police and
transportation have been included in CRA Budget projections The CRA Budget
projects the plan costs over the next five years.
Proposed Future Public Parking (surplus)
Currently the Blue Lagoon Project includes provisions for an additional parking
deck level or about 200 extra spaces directly in the Marina District. The CRA
Direct Incentive has set thresholds to encourage public amenity development
within large CBD projects. This project developer has proposed this major
contributing public amenity to qualify for incentive dollars.
Signage
Note that the management of physical sites, transportation linkage and security
for the area need to be supported by way finding signage. Without the signage,
very little can be accomplished in the management of parking and congestion in
the CBD.
Forecast for Expenditures Ending September 31,2003
Community Redevelopment Agency of Boynton Beach
Beginning Balance
Revenues
TIF Taxes $1,330,408.92
City Transfer Funds $ 17,834.98
Hall Property Transfer $ -
Grant Funding $ _
Interest Income $ 57,690.31
Other Income $ _
Total Revenue $1,405,934.21
Expenditures
Personnel Cost
Salaries
Salary Expense $ 59,615.30
Contract Labor $ 41,982.56
Total Salaries $ 101,597.86
Payroll Taxes $ 5,641.99
Workers Comp $ 1,463.94
Health Insurance $ 6,564.35
Life Insurance $ _
Total Personnel Cost $ 115,268.14
Professional Services
Legal $ 29,742.75
City Staff $ 2,710.88
Contracted Services $ 17,347.48
Audit $
Maint. & Cleaning $ 1,854.00
I.T. Support $ 647.50
Total Professional Services $ 52,302.61
Office
Rent Expense $ 7,960.00
Phone Expense $ 5,818.17
Electric Expense $ 1,093.65
Office Total $ 14,871.82
Equipment Leases Expenses $ 2,219.29
Insurance
Property Insurance $ 596.94
Bond/Liability Insurance $ 326.03
Professional Insurance $ 3,904.00
Insurance Total $ 4,826.97
Travel Expense
Business Meetings $ 3,093.93
Seminars $ 2,768.34
Mileage & Delivery Services $ 633.57
Car Allowance- Director $ 2,353.82
Total Travel Expenses $
Office Supplies $
YTD Projected
2002/2003 Expenditures
Ma}, to September
$ 5,790,391.00
YTD
Totals
2002-2003
$ 5,790,391.00
$ 1,330,408.92
- $ 17,834.98
- $ -
- $ -
26,400.00 $ 84,090.31
- $ -
$ 26,400.00
$1,432,334.21
$ 47,692.24
$
$ 47,692.24
$ 3,567.O4
$ -
$ 3,969.68
$ 180.00
$ 55,4O8.96
$ 107,307.54
$ 41,982.56
$ 149,290.10
$ 8,209.03
$ 1,463.94
$ 10,474.03
$ 540.0O
$ 169,977.10
$ 14,257.25
$ 3,289.12
$ 72,652.52
$ 7,500.00
$ 846.00
$ 5,998.00
$ 104,542.89
$ 44,000.00
$ 6,000.00
$ 90,000.00
$ 7,500.00
$ 2,700.00
$ 6,645.50
$ 156,845.50
$ 4,480.00
$ 2,181.83
$ 1,006.35
$ 7,668.18
$ 1,380.71
$ 653.06
$
$
$ 653.06
$ 12,440.00
$ 8,000.00
$ 2,100.00
$ 22,540.00
$ 3,600.00
$ 1,250.00
$ 326.03
$ 3,904.00
$ 5,480.03
8,849.66
5,124.06
$ 1,838.07
$ 1,225.00
$ 216.43
$ 554.18
$ 3,833.68
$ 4,875.94
$ 4,932.00
$ 3,993.34
$ 850.00
$ 2,908.00
$ 12,683.34
$ 10,000.00
Forecast for Expenditures Ending September 31,2003
Licenses, Books, Publication
Licenses, Fees, Permits
Memberships, Subscriptions
Books & Publication
Total Licenses, Books, Publicatio
Advertising & Public Notices
Career Development
Printing Office Expense
Miscellaneous Expense
Debt Service
Principal Payment
Interest Expense
Total Debt Service
Operating Expense
YTD Change YTD
2002/2003 in Totals
May Value 2002-2003
$ 179.50$ 70.50
$ 2,159.37 $ 840.63
$ 130.76 $ 119.24
$ 2,469.63 $ 1,030.37
$ 300.00 $ 1,400.00
$ 1,258.33 $ 1,000.00
$ 2,223.69 $ 2,000.00
$ 221.79 $ 278.21
$ 250.00
$ 3,000.00
$ 250.00
$ 3,500.00
$ 1,700.00
$ 2,258.33
$ 4,223.69
$ 500.00
$ 63,653.37 $ 66,987.16
$ 94,995.77 $ 91,661.97
$ 130,640.53
$ 186,657.74
$ 158,649.14 $ 158,649.13 $ 317,298.27
$ 368,585.13 $ 342,721.13 $ 710,606.26
PROGRAMS
Office Equipment/Furniture $
Office Leasehold Improvements $
Printing Programs $
Festivals/Events/Seminars $
Fa(~ade Grants $
Economic Incentive Grants $
PROJECTS
Relax Inn Closing & Demo $
Riverwalk/Promenade Projects $
MLK Commercial $
Way-Finding Signage $
Riverwalk / Promenade Land $
High School Project $
TOTALS EXPENSES $1,602,106.95
Note Payable $
TOTAL RESERVE BALANCE $ 5,594,218.26
23,555.94
1,285.70
886,135.30
874.22
3,400.00
13,582.12
282,111.19
1,475.87
$ 1,000.00
$ 714.30
$ 15,000.00
$ 8,898.52
$ 100,000.00
$ 35,000.00
$
$ 154,125.78
$ 5,000.00
$ 7,917.88
$ 200,000.00
$ (976.00)
$ 869,401.61
$
_.$(843,001.61)
$ 24,555.94
$ 2,000.00
$ 15,000.00
$ 30,000.00
$ 100,000.00
$ 35,000.00
$ 886,135.30
$ 155,000.00
$ 8,400.00
$ 21,500.00
$ 482,111.19
$ 499.87
2,470,808.56
4,751,916.65
City of Boynton Beach
Community Redevelopment Agency
Forecast for Expenditures Ending
September 30, 2003
Please find attached the projected final budget of the CRA Budget for September
30, 2003.
The following notes highlight all major items within the budget in an attempt to
provide insight as to our projected expenses and income through the end of
September in order to finish out the 2002-2003 year. All budgeted items may be
considered individually or as a group for discussion. Please review and give
direction to staff.
INCOME
Interest Income: Staff is projecting $6,600.00 per month in interest based on the
average of the first seven months at a declining rate.
EXPENSES
Personnel: This budget category includes three positions, Executive Director,
Administrative Assistant, Controller and the Secretary being hired if the CRA
Board approves the position. The attach spreadsheet includes salary, taxes,
workers compensation, health insurance, life insurance and retirement for all
positions for the years 2002-2003.
PERSONNEL 2002-2003
Annual
Salary
Director $ 25,499.00
Controller $ 11,769.00
Administrative
Assistant $ 10,424.00
Employers Workers Health Life SEP 02-03
FICA Comp Insurance Insurance IRA
7.5% $ 38.00 $ 350.00 $ 15.00 5%
$1,912.43 $ $1,320.00 $ 60.00 $500.00 $29,291.43
$ 882.68 $ $1,320.00 $ 60.00 $ $14,031.68
$ 781.80 $ $1,320.00 $ 60.00 $ $12,585.80
Total $ 47,692.00 $3,576.90 $ - $3,960.00 $180.00 $500.00 $ 55,908.90
Professional Services: The following services, studies, etc are proposed:
· The CRA is budgeting $14,257.25 for the remainder of 2002-2003 for
Legal Services based upon the average of $3,564.00 per month.
· The City Clerk's office is budgeted for $3,289.00 based upon the average
of pervious months.
· The CRA has retained contracted service for the following projects which
are set to start in 2002-2003:
TECA
Single Source BBB Study
Single Source Design Guideline
$ 35,000.00
$ 36,O00.O0
$ 75,000.00
The CRA will enter into a three year contact with an outside CPA firm for
our first audit in July 2003. This contract will carry forward for a period of
three years with an extension of two years available at $5,900.00 per year.
The category of maintenance and cleaning will include cleaning of the
CRA offices and repair and maintenance of the equipment and offices.
The maintenance and cleaning was calculated at:
$150.00 per month x4 months $ 600.00
Repairon Equipment $ 146.00
Repair on Office Space $ 100.00
Total $ 846.00
· City's IT Department will provide for support, service and maintenance for
our computer hardware, software and internet.
City of BB IT support
$ 5,998.00
Office Lease / Utilities: The CRA is now leasing offices for Gene Moore with the
office, conference area and workspace within the same room.
RENT:
Year 1 Rent & CAM $1,120.00 x4 =
$ 4,480.00
PHONE:
Cell phones $120.00 x 4=
T-1 line $220.00 x 4=
Phones $200.00 x 4 --
Total Phone
$ 480.00
$ 88O.OO
$ 800.00
$ 2,160.00
ELECTRIC:
Electric $251.59 x 4 -
$1,006.36
2
Equipment Leases: The CRA is now leasing the copier and the postage
machine. The contract on the copier is a three-year contract and the postage
machine is a year-to-year contract.
Copier $343.00 per month x4
Postage $19.95 per month xl
$ 1,372.00
$ 19.95
Insurance: The Staff has budgeted $653.06 for any renewal premium notice and
any additional insurance rate changes that may happen before September 30,
2003.
Travel Expense: The CRA attends business meetings with Developers,
Community Groups and Professional Organizations to promote the work of the
CRA and the betterment of the City of Boynton Beach. The CRA will be obtaining
information on several delivery services for package of the CRA in order to obtain
the best price.
Business Meetings
Business Meeting for 02-03
$1,838.43
Seminars
FRA Conference
$1,225.00
Mileage & Delivery Services
$90.00 average per month for 02-03
$ 216.43
Car Allowance Director
$138.46 x 4 = $553.84
$ 554.00
Office Supplies:
Office Supplies- pens, paper, disk, ink,
paperclips and general office products.02-03
$1,219.00 per month
$ 4,876.00
Advertising & Public Notices: The CRA will need to advertise and place public
notices, which are not project related, for the general needs.
Licenses, Membership & Subscription, Books & Publication: The CRA will
incur expenses for licenses, fees or permits which are not project related. The
CRA also uses several publications in general every day operations, for grant
sources, business incubator ideas and trends for redevelopment within CRA
Areas.
3
Memberships ! Subscription
Downtown Reporter
CD Publication
Dailey Business Review
$ 190.00
$ 475.00
$ 175.00
$ 84O.OO
Career Development: The CRA is proposing to send money on career
development of the CRA Staff which will benefit the CRA and the general public.
Printing Office Expense: The CRA produces projects books broken down into
North and South Federal Highway, Boynton Beach BIvd, Heart of Boynton and
the Central Business District.
Debt Service: The CRA has a loan with Bank of America and will have a loan
payment due to September.
PROGRAMS
Office Equipment/Furniture: The CRA will need a computer for the Secretary
along with a printer if the position is approved.
Printing Programs: The CRA will start printing brochures, letterhead,
envelopes, annual reports, project books and other information for the citizens of
Boynton Beach, Developers and future needs.
Festivals/Events/Seminars: The CRA is also proposing a business program to
help local business compete in the emerging CRA market.
Fagade Grants: This program was established as a matching grant programs
dollar for dollar up to $15,000. The following are approved projects;
High Ridge Properties $15,000.00
Grace Fellow ship Church $15,000.00
Boynton Boundless $15,000.00
Fred n Joes $30,000.00
This program was well received as demonstrated by the four applicants and
three approvals in the 2002-2003 year.
4
PROJECTS
Relax Inn Closing & Demo: This CRA project has been completed.
BBB/ Riverwalk / Promenade Projects: Starting of the construction on the
Boynton Beach Extension / Riverwalk / and Promenade Design / Build Project.
Land set aside funding is for litigation on land price.
Riverwalk / Promenade Land: Purchase of the Janet Hall Property.
Way-Finding Signage: The CRA is completing Phase I of the Way-Finding
Signage Program.
5
DRAFT
City of Boynton Beach
Community Redevelopment Agency
Direct Incentive Program
Revised 7/18/2003
The Boynton Beach CRA seeks to encourage large-scale projects, which define new
markets, quality, innovation and character in the CRA area. It is recognized that many
times these benchmark projects require new and untested market assumptions, which
have no local comparable. This condition often requires market support to make the
projects feasible in the early years. Accordingly, this program is focused on support for
qualified, benchmark projects during their initial stages. As defined by the focus of this
program, projects which directly compete with existing projects, or that do not open new
markets or that do not set new higher project quality standards in the view of the CRA,
,r.., ,.~, ............, ~., ... ,...... prcj=cts may not receive maximum consideration.
The dream of home ownership or affordable housing rental is on the brink of becoming
an endangered species for many American families. The dream is becoming elusive
because moderate income families cannot qualify or afford. Wages are insufficient
which puts these families 30% over the required 32% average house payment to
City of Boynton Beach
Community Redevelopment Agency
Direct Incentive Program
7/18/03
Page 1 of 19
income ratio. A rapidly growing population, flat growth of incomes and growing housing
prices are few of the variables that have contributed to this new reality.
In response to this emerging plight many programs have surfaced under many names:
Work Force Housing, Affordable Housing, Low Income housing, etc. What ever the
labels attached to such programs the common underlying trend is the attempt to some
how make housing affordable to the moderate to median income level population.
Boynton Beach and its residents are not shielded from this plight. In light of the
proposed redevelopment, and Real Estate appreciation approaching 20% annually the
challenge of affordable access space is a reality in the immediate future.
A common miss-conception is that this issue is residential and one dimensional.
Traditionally when faced with an aggressive redevelopment plan Cities attempt to use
Iow income housing as a measure of the aid which they provided to the displaced. Little
or no thought is given to the local business. The local flavor of most cities disappears
with the unique local business base taking with them the culture and charm. New space
rent rates can cost many times more than pre-redevelopment rates. Survival of a
downtown business in a redeveloped area is contingent upon gradual increase in
overhead not an immediate and drastic increase.
It is a proven fact that is cost less to keep a quality customer than it cost to get a new
one. The same premise could be applied to the concept of keeping the quality
businesses that currently exists a pre-redevelopment area. While new businesses are
attractive, it will take them time to build a customer base and a loyal following. The
opposite is true of the existing business they already have brand loyalty. An Affordable
Access Program that rewarded a developer to make available a percentage of the
prOject at below market rate and creates an opportunity for a local business with it's
built-in customer base to remain is a win win solution.
City of Boynton Beach
Community Redevelopment Agency
Direct Incentive Program
7/1
Page 2 of 19
In an effort to provide a more comprehensive program Staff is proposing to adjust the
existing incentive program to add an Affordable Access component.
Projects having a site in excess of 87,120 square feet (two acres) are required to have
"Public Amenity" elements. (Sidewalks, Alley and Streets do not qualify.) These
elements will be considered as part of "Project Quality" scoring.
Projects will be scored by Program Criteria, which are defined in Program Guidelines.
The project's score will determine how much, if any, of the eligible incentive the project
may receive. Application to this Program is no guarantee of funding. Funding is at the
sole discretion of the CRA Board.
City of Boynton Beach
Community Redevelopment Agency
Direct Incentive Program
7/18/03
Page 3 of 19
TABLE OF CONTENTS
I. PROGRAM GUIDELINES
Page 5
II. PROGRAM SCORING CRITERIA
Page 6
III. PROGRAM ADMINISTRATION
Page 9
IV. INCENTIVE PROGRAM APPLICATION:
Page 13
V. CRA NOTES & BOUNDS
Page 15
VI. MAP AND BOUNDRIES
Page 16
VII. CONTACT INFORMATION
Page 19
City of Boynton Beach
Community Redevelopment Agency
Direct Incentive Program
7/18/03
Page 4of 19
PROGRAM GUIDELINES
· The project must be in the City of Boynton Beach CRA Area as defined at the
time of application and~, ~* *~.1 I~ *;~,11 I I~ cf the approval ,''~.,, *~,1 I~ .... ~ll~.l~l~;~*;~, by the CRA
Board.
· The applicant must be the majority owner (the owner having the greatest
percentage of ownership) or authorized agent of the majority owner in the
project.
· All property taxes, fees, city/county liens owed by the applicant must be paid and
current.
· The project is required to be over $2,000,000 in projected new assessed taxable
value upon completion ~ .....:~"*o ;" *~"~ CP,,~, '~"'~'~ ~,,~,* ",, ,*o;'~'~ *~-'- However
projects in the Heart of Boynton area are required to be over $500,000 for
consideration ~, ..... , ;,,,.,o ;,.,o;,4,, ,~,,~ u,,,,,., ,-,~ ~ .... , ......
· The project's projected total annual economic impact to the City (after
completion) as projected by using RMS Economic modeling standards, shall be a
minimum of 20 times the corresponding year's incentive during the incentive
period. This impact analysis is waived in the Heart of Boynton area.
· The project shall contain Affordable Access elements sufficient to score a
minimum of 2 points to qualify for any incentives.
· Projects having a site in excess of 87,120 square feet (two acres) are required to
have "Public Amenity" elements. (Sidewalks. Alley and Streets do not qualify.)
These elements will be considered as part of "Project Quality" scoring.
· The duration of the incentive shall be no longer than 10 years.
· The incentive will generally not exceed 50% of the CRA TIF revenue generated
by the project during the incentive period.
· No incentive (in any one year) shall exceed 75% of the new annual TIF revenue
generated directly from the project for that year.
· Projects may be phased; however each phase must meet program thresholds.
· Projects must score at least 50% on this application to qualify for incentives.
City of Boynton Beach
Community Redevelopment Agency
Direct Incentive Program
7/18/03
Page 5 of 19
PROGRAM SCORING CRITERIA
· Project Size (total new assessed value) (up to 20 pts). For the purpose of
application scoring, the new assessed value projection shall equal the project's
projected appraised value minus any homestead exemptions, times 90%, minus
current assessed value of the project site.
1. $2,000,000 to $4~ $9,999,999 (5 pts)
2..,...,......,......¢c nnn nnn ,......,.--,.--.--,--.-.-.e° aaa aar, $10.000,000 to $24,999.999. (10 pts)
3..,.¢"n, --,-.-.-.,-----.nnn nnr~ ,,-,.....,.--~,.-----,-.-..-"~°'~ aaa aa~ $25,000 000 to $49,999,999. (15 pts)
4..~......,.......,.....,..~°: nan nnn $50,000,000 plus (20 pts)
Heart of Boynton Area (only)
1. $500,00 to $999,000 (5 pts)
2. $1,000,000 to $1,999,999 (10 pts)
3. $2,000,000 to $2,999,999 (15 pts)
4. $3,000,000 plus (20 pts)
· Type of Project (up to 20 pts) - Preferred use criteria. Evaluation of the project
is based on its consistency with redevelopment plans and its appropriateness
within the overall economic context. Depending on location, additional
consideration will be given to the following commercial uses.
1. Mixed uses with residential component,
2. Mixed uses with office component,
3. Hotels/Conference Centers,
4. Multi-story professional-retail buildings (business and financial services),
5. Medical & Health care services,
6. Multi-story office-retail only buildings with the following type of retail tenants:
a. Restaurant/Specialty Foods,
b. Entertainment,
c. Art galleries,
d. Apparel,
e. Gift Shops/Decorative Arts/Specialty Stores/Boutiques.
City of Boynton Beach
Community Redevelopment Agency
Direct Incentive Program
7/18/03
Page 6 of 19
7. Retail only buildings with a minimum of four tenants (from the above list)·
8. Multi-Family fee simple ownership units - (Heart of Boynton area only)
9. Stand alone Live/Work configurations (rental or fee simple), (Heart of Boynton
area only)
· Project Location (up to 20 pts)- Must be within the CRA area.
· "' ' "' ""~ '""' ",~ ~, ' '"'
1. In CRA Are~ ~,qd In the CBD District or on Federal Highway South of C16
Canal & North of Woolbright, Boynton Beach Blvd. from the intercostal to 1-95
or on Ocean Ave., ac~L(Projects in these areas are high impact and have the
highest visibility·) (10 pts)
2. The Heart of Boynton area· - (20 pts).
· Economic Impact - (up to 20 pts)
1. Projected economic impact over the incentive period of 20 to 49 times the
incentive - (-1~ 5 pts)
2. Projected economic impact of 50 times the incentive or more - (20 10 pts)
3. Economic Impact Studies are waived the Heart of Boynton area and assigned
- (20 pts.)
· Affordable Access Incentive (up to 20 pts) (Mandatory Minimum Score of 2
pts)
1 Scoring (See Scoring Graph)
Single Use
Type . Score
Two Uses
Type Score
Type Score
Three Uses
Type Score
Type Score
Type Score
Total Score
City of Boynton Beach
Community Redevelopment Agency
Direct Incentive Program
7/18/03
Page 7 of 19
· Project Quality - (up to 40 pts)
1. Point allocation based on project architecture, landscape features, public
amenities, innovation, quality, overall contribution to the Community, etc.
Project sites over 87,120 square feet (two acres) are required to have public
amenity features.
City of Boynton Beach
Community Redevelopment Agency
Direct Incentive Program
7/18/03
Page 8 of 19
5O
45
4O
35
3O
2O
15
10
5
0
0
Affordable Access Incentive
Scoring Graph
Use = 20 pts
Uses = 10 pts
Uses 7 pts
1Use =10pts
2Uses= 5pts
3 Uses = 4 pts
Use : 5 pts
Uses = 3 pts
Uses 2 pts
Use = 2 pts
Uses 1 pts
Uses .75 pts
Percentage of Discount
PROGRAM ADMINISTRATION
Upon approval by the CRA Board and completion of required documents and execution
thereof, the program shall-be will be generally administered as herein outlined.
Establishing Incentive Percentage:
Point scores from each of the five six criteria elements will be added together and the
total taken as a percentage times the eligible maximum incentive (up to 50% of the new
assessed tax amount) to establish the incentive formula percentage. For example, a
score of 100 pts or more equals 100% of 50% (maximum program capture percentage
of direct project assessed TIF Revenues) is the project's incentive capture formula. A
70 pts scored equals 70% of the 50% Note that incentives are defined as percentages
of the new assessed TIF increment as it appears on the official tax rolls, therefore, any
actual dollar figures prior to project completion and listing on the tax roll, are only
estimates. However, the percentage may be adjusted by the CRA Board after
consideration of whether the incentive is requested prior to project completion and in
light of other incentives given to an applicant by other sources such as infrastructure
improvements provided by the City of Boynton Beach.
Establishing Annual Incentive Disbursements for the Incentive Period:
Unless incentive funds are to be paid prior to project completion, the incentive shall be
normally disbursed in ten (10) annual installments after required actions have been
completed by applicant. Although annual percentages of the incentive may vary to
respond to early project needs, they shall not exceed 75% of the new increment tax for
any single year. The cumulative incentive shall not exceed 50% of the new assessed
increment's taxes for the total incentive period. The project applicant may request that
the incentive be "front loaded" in the following formula: 75% first year, 75% second year,
60% third and forth years, 50% fifth and sixth year, 40% seventh and eighth years, and
25% ninth and tenth years. The method of calculating "front loading" would be to
project the ten year TIF based on the first year's taxable values times the project's
incentive percentage formula (based on the project's score received from the CRA) and
then the annual incentive is adjusted to follow the "front loading" percentage schedule
City of Boynton Beach
Community Redevelopment Agency
Direct Incentive Program
7/18/03
Page 9 of 19
above. The taxable value is monitored annually prior to incentive award to assure that
any movement in value will be reflected in the calculation.
Incentive Disbursement:
The Earned Incentives will be dispersed no later than March 1s~ of *~'~'* .......... ......... ,..... the
year following the assessment and will be based on the prior year's c::,elle(A~Ftaxes.
Requesting for Incentive "Front Loading":
The project applicant may request that the incentive be "front loaded" in the following
formula: 75% first year, 75% second year, 60% third and fourth year, 50% fifth year and
sixth year, 40% seventh year and eighth year, 25% ninth year and tenth year. The
method of calculating "front loading" would be to project the ten year TIF based on the
first year's taxable value times the project's incentive formula (based on the project's
score received from CRA Board) and then the annual incentive is adjusted to follow the
"front loaded" percentage schedule above. The taxable value is monitored annually
prior to incentive award to assure that any movement in value will be reflected in the
calculation.
Affordable Access Incentive:
The following are definitions for the Affordable Access Incentive.
· Affordable Access Incentive rewards Projects for Below Market Access by the
public to a defined portion of their Project. The Affordable Access Incentive shall
be scored by analyzing the amount of Project Set Aside Area Eligible for
Discount Pricing. The ratio of area and amount of discount then will be plotted
on the CRA Project Scoring Graph for Affordable Access to determine points
scoring.
· Uses shall be defined by three basic categories. Those Uses shall be
Residential, Commercial and Retail / Restaurant. Each Use shall be scored
separately for Affordable Access (amount of area and amount of discount) and
analyzed using the appropriate Matrix Graph corresponding to the number of
Uses contained in the Project. If the Project does not offer Affordable Access for
City of Boynton Beach
Community Redevelopment Agency
Direct Incentive Program
7/18/03
Page 10 of 19
any one of its Uses, the score for that Use shall be zero (0). The Affordable
Access scoring for all Uses will be added together for the Total Incentive Scoring.
The project must score at least 2 pts in this Affordable Access Category to
be eligible for Direct Incentives. The maximum number of points for this
element of the Direct Incentive Program shall be 20 pts.
Project Set Aside Percentage shall be defined as the area (square footage)
available for Market Discounts divided by the total net area (square footage) in
the project for that type of Usage.
Market Pricing shall be the average actual or projected price per square feet for
each of the Uses within the Project. The Discount Percentage is figured as the
Discounted Pricing per square foot offered by the project divided by the average
rental or sale rate per square foot of the like-kind area within the Project,
subtracted from 1.0.
Administration of Affordable Access Program by Project Owner. The
Developer shall be required to qualify beneficiaries of the Affordable Access
Spaces and report annually. Restriction on beneficiaries shall be for the term of
the requested incentive, up to 10 years.
1. Residential Rental and Sales (must be one of the following to qualify)
a. Residential Rental - Individuals or families with household income Low
Income (80% Median) to the 120% of Median income for Palm Beach
County as defined by HUD for the year that the application is
approved, can qualify for the program.
b. Residential Sales - Individuals or families with household income Low
Income 80% Median to the120% Median income for Palm Beach
County as defined by HUD, for the year that the application is
approved, must be able to quality for unit purchase with discounts.
Approve percentage is defined as 32% of the gross monthly income.
The purchaser must keep the unit for 36 months or pay profit back to
program. The unit must be the primary full-time residence of the
qualified buyer.
City of Boynton Beach
Community Redevelopment Agency
Direct Incentive Program
7/18/03
Page 11 of 19
Commercial Rental, Retail or Restaurant (must be one of the following
to qualify)
a. Majority of business ownership owned by people / corporation residing
/ located within Palm Beach County. (Business and / or Franchise
Ownership).
b. Existing business in the Boynton Beach CRA District,
c. New local business (Business Owner(s)live in Palm Beach County),
d. Minority Owned Business, as defined by SBA 8a Standards, which can
be a local, regional or national.
· Public Amenities:
Public areas are defined as areas that have unrestricted public access for the duration
of the project. Physical improvements that qualify are very broad to encourage project
innovation. Specific items which will not be considered as contributing public areas for
scoring are sidewalks (up to 12' wide), roads, utility R,O.W.s, allies, items solely
required for safety / emergency access, etc.
Public area designation shall be clearly identified by the applicant and their ultimate
acceptance is solely at the discretion of the CRA Board. The public area information
will include a narrative concept for setting aside the area for the public use. area layout
plan with square feet, element description, cost estimates for construction,
maintenance programs (at no public cost), etc.
Public amenities must be set-aside by deed covenant and / or in Property Owners
Association Declarations and/or other CRA Acceptable Legal Documents to assure free
public access to amenities presented for scoring consideration for this incentive
program.
City of Boynton Beach
Community Redevelopment Agency
Direct Incentive Program
7/18/03
Page 12 of 19
PALM BEACH COUNTY INCOME GUIDELINES - 2003
MEDIAN = $60,800.00
I 1 2 3 4 5 6 7 8
Very Low- person persons persons persons persons persons persons persons
Income
50% $22,000 $25,100 $28,250 $31,400 $33,900 $36,400 $38,950 $41,450
Median
Low-
Income
80% $35,150 $40,200 $45,200 $50,250 $54,250 $58,300 $62,300 $66,300
Median
Moderate
Income
120% $52,800 $60,240 $67,800 $75,360 $81,360 $87,360 $93,480 $99,480
Median
As RECEIVED FROM FLORIDA HOUSING FINANCE CORPORATION
MARCH 24, 2003.
C:'~Doc~lm~nJg ~nd ~¢:ffings\h~Jtchinsond\Loc2. l .~Jlincjs\Tc:mpor2. n~ lnt~rnr~ Filc.-s\OI.FE\CH/', PT-2OO2,doc
INCENTIVE PROGRAM APPLICATION
The following information shall be compiled in a loose-leaf binder, tabbed and labeled to
correspond with the following section headings. This information package is the
program application. The application shall be forwarded to the CRA Office with a formal
letter of request containing a narrative of the project, reason for request, justification and
a summarizing the highlights of each of the following sections. The letter should be
signed by the applicant or authorized agent and be accompanied by 12 sets of the
completed project information.
Project applications shall be screened and reviewed by staff for completeness
and scored.
Staff or a selected review committee shall provide pertinent comments on the
project.
· The review period shall not exceed forty-five (45) days from the date of the
submittal of a completed application. On or before the end of the 45-day period
staff shall either forward the application, their findings and recommendations to
the CRA Board for consideration at the next regularly scheduled meeting or
request, in writing, that the applicant provide additional information (A copy of the
staff or review committee recommendation will be forwarded to the CRA Board.).
· Upon consideration by the CRA Board, the Board shall take one of the following
actions: Approve, table, modify or reject the application. The applicant shall be
notified in writing as to the Boards decision with in 5 days. If the application is
denied, the applicant may resubmit a revised application for reconsideration.
Note that any direct or indirect lobbying of the CRA Board will result in
disqualification of the applicant from the program.
Project Information:
· Applicant Information
1. Applicant (Majority Owner) Name.
2. Listing of Owners by Ownership Percentage.
City of Boynton Beach
Community Redevelopment Agency
Direct Incentive Program
7/18/03
Page 13 of 19
3. Applicant Address, Phone Number(s), Fax, Email Address.
4. Contract Person's Name, Title, and Contact Information.
5. Attach a Brief Resume on the Applicant and Principals. (Exhibit "A")
Project Information
1. Project Description (One Page Narrative)
· Project Location,
· Size - area and appraised value,
· Zoning,
· Uses (commercial, residential, mixed use, etc.),
· Square Footages of Uses,
· Amenities,
· Features - construction finishes & materials, colors, etc.
2. Plans (if not previously CRA approved) - site, floor, elevations, landscape,
colored renderings, etc. (Exhibit "B")
3. Project Status (for example, has the project been submitted for Initial Site
Review, Site Plan Approved, Permitted, etc.)
4. Project Timetable with Projected Dates.
5. Feasibility Study Summary - (A copy of the study's summary conclusions
dated within the last 6 months prior to the date the application is filed with the
CRA office.) The study must be completed by an experienced third party firm.
The Study shall be based on appraisal, market conditions, comparable
projects, financing and all factors affecting the development of a stand-alone
project, without the inclusion of incentives. Property value and inflation
increases shall be no greater than 3% annually.
MAI Appraisal Summary - (A copy of the appraisal's summary conclusions
dated within the last 6 months prior to the date the application is filed with the
CRA office.) MAI Appraisal of the current land and any improvements as is
and the project's projected value upon completion.
7. Economic Impact Study - (A copy of the study's summary conclusions dated
within the last 6 months prior to the date the application is filed with the CRA
office.) The study must be completed by an experienced third party firm. The
analysis shall forecast CRA and City economic impacts, specifically including
City of Boynton Beach
Community Redevelopment Agency
Direct Incentive Program
7/18/03
Page 14 of 19
CRA TIF revenue forecasting using RMS standardized economic models.
This study requirement is waived for projects in the Heart of Boynton area.
Affordable Access Commitment and Calculation. Define each usage set aside
area and define market discount pricing
Public Amenity Feature - PrOjects of 87,120 square feet (two acres) are
required to provide a "Public Amenity Feature" (sidewalks, alleys and streets
do no qualify.) Highlight the feature design~ placement, cost, etc.
The request for incentives and application, if and when approved by the CRA Board,
becomes an integral component of the Incentive Agreement, including but not limited to
other requested information from the CRA, therefore great care should be taken to seek
the most accurate projections possible for the project.
The approved Incentive Agreement may be assigned with the formal, prior written
approval from the CRA Board of Directions.
City of Boynton Beach
Community Redevelopment Agency
Direct Incentive Program
7/18/03
Page 15 of 19
COMMUNITY REDEVELOPMENT AREA S'rDE='r... -. -..-. · .....' ,e'r,K,~_ -n.... = ^e-r_~A,=em ...-.... AVE.%~UES
· .NW g .NE 5+~ Ave, ,NW 5+~ CT
NW&H.C4th
-- HW & .NE 3rd Ave, NW 3rd CT
.............................. y, .ton .......
e klr- `lef C~f klr- Oflfl
C
; HE 5th CT
City of Boynton Beach
Community Redevelopment Agency
Direct Incentive Program
7/18/03
Page 16of 19
MAP AND BOUNDRIES
City of Boynton Beach
Community Redevelopment Agency
Direct Incentive Program
7/18/03
Page 17 of 19
Hea~ of Boynton Area
City of Boynton Beach
Community Redevelopment Agency
Direct Incentive Program
7/18/03
Page 18 of 19
CRA CONTACT INFORMATION
CRA Director:
Address:
Office:
Douglas Hutchinson
639 E Ocean Ave, Suite 107
Boynton Beach, FI 33435
561-737-3256
Fax:
561-737-3258
E-Mail
Hours:
hutchinsondC~,ci.boynton-beach.fl.us
8:00 AM - 5:00 PM Monday - Friday
City of Boynton Beach
Community Redevelopment Agency
Direct Incentive Program
7/18/03
Page 19 of 19