Agenda 08-27-13
BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY
OPERATING BUDGET
FY 2013-2014
AS OF: 08/27/2013
710 North Federal Highway, Boynton Beach, FL 33435
561-737-3256
www.catchboynton.com
Table of Contents
Pages
Work Plan FY 2013-20141-19
Budget Overview20-32
General Fund33-46
Project Fund47-51
Debt Service Fund52-53
Development of Phase 2 Boynton Harbor Marina CRAFunding: $1,600,000
This multi-year, multi-phase redevelopment of the CRA owned Boynton Harbor Marina continues with the
construction of a harbor master building to include public restrooms anda retailstore; new fueling facilities;
public art and waterfront open space. The purpose of the project is to preserve public access to prime
waterfront facilities offering tourism opportunities that will enhance visitor experience when coming to
downtown Boynton Beach.
The marina has been at the heart of most of the CRA plans since the creation of the CRA in 1981. The
redevelopment of the marina into an attractive, functional and economic driver for downtown is an ongoing goal
for the Agency. The Cityis lucky to have such a unique gem within its downtown.
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ststth
Parking Redevelopment 1& 1and N.E. 4Street CRA Funding: $528,395
Economic redevelopment funding by the CRA has resulted in new businesses opening and existing
businesses expanding. As more residents move in and redevelopment opportunities are realized in the
downtown core, the need and requirement for parking becomes more critical. As identified in the Downtown
Vision & Master Plan and Downtown Parking Study, creating public parking opportunities throughout the
downtown should be an ongoing activity of the CRA.
stst
1& 1Public Parking Lot
th
N.E. 4Street Location
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Entry Signage at North & South Federal Highway CRAFunding: $100,000
The importance of creating a good first and last impression for visitors, citizens, potential developers or
investors cannot be overstated. The “entrance and exit” to the City and CRA District should create a sense of
arrival, pride, brand and welcome. An opportunity exists to enhance the existing entrance signage at North
and South Federal Highway in order to create such an experience.
City’s Existing Signage:
Examples of Signage from Other Cities:
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Design of Boynton Beach Boulevard CRAFunding: $375,000
Boynton Beach Boulevard is the entry way into downtown Boynton Beach. Most people agree that it needs
beautification both on the private sector side and in the public right-of-way. The CRA and City have little
leverage other than grants and code enforcement to encourage property owners to improve their properties
and to upgrade the tenants. Therefore, the CRA looked at a redesign of the boulevard.
Because the boulevard has been widened over the years (lanes added), there is little left of the public right-of-
way that can be used for landscaping improvements or for wider sidewalks. The Florida Dept. of Transportation
has agreed that the portion of the boulevard between the FEC tracks and Seacrest can be narrowed without
impeding traffic. This would allowbike lanes, wider sidewalks, larger street trees and shrubbery, street
furniture and public art to be installed in this area.
Before
After
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Special Events CRA Funding:$265,000
Holiday Extravaganza-$105,000
Holiday Parade $25,000
50 Ft. Holiday Tree$20,000
Holiday Concert$60,000
A 43 year tradition, the Holiday Extravaganza brings in excess of 5,000 people to the downtown each year.
The day kicks off with the Parade on Federal Hwy. at 5:00pm moving on to the 50 Ft. Tree Lighting at the
Amphitheatre at 6:30pm and a Concert featuring a national touring act at 7:00 pm.
Holiday Boat Parade -$9,000
The Boynton/Delray Holiday Boat Parade is one of the most popular events…the parade starts at the Boynton
Inlet and travels south to the C-15 canal just south of Delray Beach. The Boynton Harbor Marina is the place
to be that night with live music, Santa and parade viewing right on the Intracoastal.
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Movies on the Ave. -$10,000
A large inflatable screen sits on the Amphitheatre floor and projects newly released movies on the first Friday
of the month in January through May. Gourmet Food Trucks onsite add to the fun! 250 attend.
Ocean Avenue Concerts -$15,000
This popular series takes place at the Ocean Avenue Amphitheatre on the third Friday of the month January
through May. The genre of music changes each month and the 300+ attendees always “dance the night
away”. Gourmet Food Trucks onsite and plenty of free parking are additional perks.
Catch A Dance -$10,000
This series became popular with the first event! Great music, the Fred Astaire Dance Studio dancers, full
dinner buffet, cash bar and complimentary valet parking. We return for June through September.
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Boynton Beach Haunted Pirate Fest & Mermaid Splash -$102,500
The Pirate Fest was an absolute success bringing 5,000 visitors to Boynton Beach. The 75 actors, musicians
and street performers thoroughly entertain and mesmerize the crowd with continuous entertainment on three
stages…the attendees did believe they had entered a Pirate village. The activities include pirate reenactments,
live music, magic shows, kids costume parade and pirate ceremony and the interactive ship The Avenger. The
Schoolhouse Children’s Museum created a Haunted House that was a big hit with the young families. This
year we will include the Mermaid Splash which will include the merchantson Ocean Avenue and additional
restaurants that are participating. The fun continues with a Mermaid Parade to Dewey Park, Ocean Plaza and
the Marina where there will be live music, Mermaids in tanks, art vendors and a pirate ship at the Marina.
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Economic Development Grants CRAFunding: $300,000
There are currently four reimbursable incentive programs available to small businesses and commercial
property owners.
Commercial Construction Project Incentive Program
This the newest grant program approved by the CRA Board on May 14, 2013. The program is intended to
provide additional financial assistance to property owners/tenants who are investing private sector funding into
the redevelopment of commercial properties. The Commercial Construction Project Incentive Program will
reimburse approved applicants with the cost of permit fee expenses up to 3.3% of the project’s construction
costs. Only projects ranging from$250,000 to $2,000,000 are eligible.
Global Project Boynton Beach SW, LLC a/k/a Sherwin Williams is the first applicant for this program. The
estimated project value for the complete renovation of the old “Ralph & Rosie’s” location is $360,000. $11,880
of CRA funding will be reimbursed to the property owner for permitting fees.
Project is currently underway:
GLOBAL PROJECT BOYNTON BEACH SW, LLC a/k/a SHERWIN WILLIAMS
(FORMERALLY RALPH & ROSIES)
2012 PROPERTY TAX VALUE $237,554
ESTIMATED IMPROVEMENTS $360,000
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Commercial Façade Program
This grant program began in 2005. To date this program has improved the exterior of 46 businesses. Total of
grant funding since 2005 = $506,436; Private match = $5,333,270; Ratio = 1 to 11
At the end of July, 2013 there were fiveapproved applicants for fiscal year 2012-2013. $55,355in CRA grant
funding allocated to those five applicants. To date (since all projects have not been completed), private
matching funds totals $1.2 million; Ratio = 1 to 22
THE BACKYARD
2012 PROPERTY TAX VALUE $247,429
IMPROVEMENTS $250,000+
COLONIAL GATEWAY VETERINARY CLINIC
2012 PROPERTY TAX VALUE $278,473
IMPROVEMENTS $1.2M
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In 2010 the CRA Board approved theaddition of two grantsbased on job creation. Based on1
quarter 2013employee reporting from the grant recipients of rent reimbursement and interior build-out
funding, approximately213 jobs have been created or maintained since the inception of these two
programs.
Commercial Interior Build-Out Assistance Program
Grant funding for this program is intended to reduce the initial costs associated with the construction or
renovation of the interior elements of the commercial operating space. Improvements must be permanent and
stay with the building. Currently, this grant is tiered with a minimum funding of $5,000 (2 full time employees
required) to a maximum funding of $22,500 (3 full time employees required).
Since May 2010 a total of 17 new/existing businesses have participated in this program. Total of grant funding
since 2010= $220,470; Privatematch = $2,658,426; Ratio = 1 to 12
At the end of April, 2013 there were two approved applicants for fiscal year 2012-2013. $10,523in CRA grant
funding was allocated to thetwo applicants. Private matching funds for the 2 businesses totals $1,179,000;
Ratio = 1 to 112
FAMILY DEVELOPMENT PARTNERS
SUBWAY HEADQUARTERS/BOYNTON BEACH BLVD.
2012 PROPERTY TAX VALUE $518,901
IMPROVEMENTS $150,000
BAD RAGAZ HALLE & BEIRGARTEN/LAS VENTANTAS
IMPROVEMENTS $925,000+
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Commercial Rent Reimbursement Program
The program is designed to provide financial assistance to new and existing expanding businesses during the
critical first year of operation.
A business must maintain 2 full time employees for the duration of this grant(12 consecutive months). This
grantis tiered with matching funding ranging from $400 to $600 per month.
Since March 2010 a total of 21new/existing businesses have been approved by the CRA Board. Total of grant
funding since 2010 = $83,116; Private match = $243,531; Ratio = 1 to 3
For FY2012-2013 there are sixapproved applicants. $32,400in CRA grantfunding allocated to those
applicants.
416 BOYNTON, LLC-Owner/Lessor/BOYNTON BEACH BLVD.
BROADSTONE REAL ESTATE, LLC-Lessee
2012 PROPERTY TAX VALUE $253,087
IMPROVEMENTS $190,000
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Acquisition of Key Parcels –Ocean Avenue and the Heart of Boynton CRA Funding: 1,279,970
CRA’s are charged with purchasing property and removing barriers to private redevelopment such as
unreasonable sellers, contaminated property, strangely platted blocks to name a few. The CRA has a few
thth
property assemblages started in the Heart of Boynton; the 100 block of NE 4and 5Avenues and Martin
Luther King, Jr. Blvd (MLK). The first of these is to correct a platting issue that prevents the block from ever
being fully developed. The second is to create commercial and/or mixed development at Seacrest and MLK.
Staff is recommending that the Board also approve acquisition of key parcels within the Ocean Avenue
corridor, if possible, to strengthen connections along the Avenue. Depending on the parcels acquired, new
buildings could be constructed through public/private partnerships. Existing buildings could be renovated and
used as space for artists to sell their work and new restaurants.
thth
100 Block of NE 4/5Avenue
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MLK/Seacrest Blvd.
Ocean Avenue
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Tree Lighting Project –Promenade and Ocean Avenue CRA Funding: $92,145
Ocean Avenue and The Promenade walkway (Boynton Beach Blvd. east of Federal Highway) has a great tree
canopy that provides shelter from the sun during the day. However, the trees can be an asset at night as well
by installing decorative LED rope lighting in the trees. The project will have the dual impact of increasing
pedestrian safety and connecting the west and east end of Ocean Avenue. The lights will stay in the trees
year round.
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Marketing BudgetWork Plan CRA Funding: $95,000
The Boynton Beach CRA requires a thoughtful marketing strategy. This budget cycle will propel the marketing
strategy through a re-launch of a strengthened and powerful brand. Building upon a freshened brand identity
by positioning the “Catch A” program within the local and surrounding cities will project a long term vision and
messaging that will support the mission of the Boynton Beach CRA. East Boynton is open for business!!
Brand and Tag Line Development Campaign
Enhancing the development of our “Catch A” brand tagline. The direction for the “Catch A” tagline will
feature brighter colors with new phrases and images(see below).
Planning of tactics for marketing strategies and implementation. Concentrating on a destination brand
and highlighting our assets. For example, Boynton Beach Restaurants, Boynton Harbor Marina
etc…Bridging the east with the west on Ocean Ave.
Development of template sheets for in-house stationary, promotional merchandise and images for the
website.
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Comprehensive Design
Promotional Collateral & Collateral Campaign for Brokers
Design and develop a custom brochure with 2 promotional rack card templates directed to commercial
brokers. Templates for brochures that say “What is available” and “what are the uses”, incentive
programs such as grants and economic development friendly information.
Promotional Collateral Templates for “Catch A” brochure promoting the “Boynton Lifestyle”…Marina,
retail merchants and restaurants.
Media Strategy
“Message building”Marketing ad Campaign
The development of a unique and easy to remember brand overview that will drive the message to
local residents and visitors.
The campaign message and strategy will be developed in conjunction with the same brand theme
“Catch A”.
Palm Beach Post ad placement to promote the Downtown businesses in a themed manner
Boynton Forum monthly double page spread with the “Catch A” theme(see below).
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Promotional Base Messaging Postcard
Postcard Campaign “Meet Your Neighbors”that focuses on the businesses. The Postcard campaign
will introduce local services to the HOAs and local residents keeping business inside the CRA district.
“Shop Boynton” is a direct mail campaign that focuses on the goods and services.
Downtown Merchant & Marina Mixers.
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Signage for the Boynton Beach Arts DistrictCRA Funding: $25,000
As featured in virtually every form of media, the Boynton Beach Arts District (BBAD) has become a destination
for art enthusiasts and visitors from all over Palm Beach County. The City of Boynton Beach Public Art
Commission and the CRA have worked closelywith BBAD to assist in the promotion of their artists and events.
The BBAD is located in the industrial area of the CRA district, west of I95 just north of Boynton Beach
Boulevard on W. Industrial Avenue. Signage identifying the Arts District is needed to further enhance and
promote this special CRA District asset.
Boynton Beach
Arts District
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Town Square Planning and Financial Analysis CRA Funding: $61,050
As the City embarks on determining the space needs for the Police Department, the potential use for the Old
High School, whether or not to build a new City Hall, it would be helpful to have the assistance of urban design
professionals who can provide conceptual drawings of how the Town Square could look and function. Town
Square should be activated to bring visitors and residents to the area both day and night for events, cultural
activities, City business, etc. It is important to get the design and mix right for thefuture development of
downtown.
Once the decision is made on what use goes where, then it must be determined how to pay for it. There are a
number of ways to accomplish this and the CRA in cooperation with the City will bring in finance professionals
that can provide with various financing scenarios to help with the decision making process.
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BOYNTON BEACH CRA
Revenues - FY 2013-2014
Increase/(Decrease)
FY 2012-2013vs. Estimate
BudgetEstimateFY 2013-2014Amount%
Tax Increment Revenue$5,585,000$5,614,228$6,860,000$1,245,77222%
Other Sources of Revenue
$1,000,000$1,000,000$1,000,000$-0%
$25,000$25,000$-$(25,000)-100%
Balance Allocation$300,000$300,000$300,000$-0%
Total Revenue Sources$6,910,000$6,939,228$8,160,000$1,220,77218%
Assumptions:
1. Tax increment revenue in FY12-13 Estimate is actual.
2. City and County millage rates remain same
3. TIF revenue FY 13-14 reduced by 1.2% true-up
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Boynton Beach CRA
Summary - Assessed Property Values & TIF Revenue
CRA AssessedIncrement
Property Values% ChangeRevenue% Change
FY 2004-2005$631,521,600$3,871,616
FY 2005-2006$827,149,28831.0%$6,076,34756.9%
FY 2006-2007$1,132,404,17236.9%$9,086,62449.5%
FY 2007-2008$1,270,885,42412.2%$9,520,3424.8%
FY 2008-2009$1,131,010,840-11.0%$8,159,941-14.3%
FY 2009-2010$950,585,514-16.0%$6,760,870-17.1%
FY 2010-2011$825,305,342-13.2%$5,637,827-16.6%
FY 2011-2012$815,476,900-1.2%$5,752,7452.0%
FY 2012-2013$787,123,743-3.5%$5,614,228-2.4%
FY 2013-2014$899,850,69214.3%$6,860,00022.2%
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BOYNTON BEACH CRA
Funding Available for Projects - FY 2013-2014
Revenues - Estimated$8,160,000
Less:
Debt Service$1,519,179(a)
Operating Expenses$1,794,551
Marina Expenses$1,000,000
DIFA - Casa Costa (f/k/a The Promenade)$410,000(Year 4 of 10)
DIFA - Cornerstone $110,000(Year 1 of 10)
Wal-Mart Brownfield Payment$22,500(Year 3 of 4)
DIFA - Wal-Mart $45,000(Year 2 of 10)
DIFA - Seabourn Cove - Phase 1$340,000(Year 1 of 10)
Sub-Total$5,241,230
New Project Revenue$2,918,770
Factors contributing to increase in New Project Revenue:
(1) increase in increment revenue (2) use of $780,000 bond reserve for
debt service payments, and (3) $300,000 fund balance allocation.
(a) Per CRA Bond Counsel, debt refunding reserve balance allocation of
$780,000 to be applied towards debt service payments in FY 2013-2014.
Debt service payment for FY 2013-2014 = $2,298,679 plus $500 in fees.
Projects Funded Through Bonds
Boynton Beach Blvd Ext/Promenade Walkway$10,022,14934%
Property Acquisitions $11,485,68639%
Marina Purchase$6,393,70022%
Housing Assistance$1,389,4935%
Economic Development$320,6481%
Total$29,611,676100%
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BOYNTON BEACH CRA
Project Fund Revenue & Potential Projects
FY 2013 - 2014
Project Revenue for New Total Est.
RolloversProjects Project Fund
Project DescriptionCRA Plan$2,191,585$2,918,770$5,110,355
(As of 8/19/13)
1
Development of Phase 2 MarinaDowntown Vision & Master Plan$1,280,700$319,300$1,600,000
Parking Redevelopment - 1st & 1st
2
and 4thDowntown Vision & Master Plan$428,395$100,000$528,395
3
Magnuson HouseDowntown Vision & Master Plan$186,795$-$186,795
Marina Entry Signage at Boynton
4
Beach Blvd. & Federal Hwy. (a)Downtown Vision & Master PlanReallocated$-$-
5
Old High School (c)Downtown Vision & Master PlanReallocated$-$-
6
Rollover - HAP Shortsale Funds (b)Downtown Vision & Master PlanReallocated$-$-
7
Design of Boynton Beach BoulevardDowntown Vision & Master Plan$-$375,000$375,000
8
Special EventsDowntown Vision & Master Plan$-$265,000$265,000
9
Economic Development GrantsAll CRA Plans$150,000$150,000$300,000
Acquistion of Key Parcels - Ocean
10
Ave. and Heart of BoyntonAll CRA Plans$17,500$1,262,470$1,279,970
11
ContingencyAll CRA Plans$-$100,000$100,000
Entry signage at north and south
12
Federal HighwayDowntown Vision & Master Plan$-$100,000$100,000
Tree Lighting Project -
13
Promenade/Ocean Ave.All CRA Plans$92,145$-$92,145
14
Marketing Program - DowntownAll CRA Plans$-$95,000$95,000
15
Design & EngineeringAll CRA Plans$-$50,000$50,000
16
Site Work & DemolitionAll CRA Plans$-$25,000$25,000
17
Legal Work - Project FundAll CRA Plans$-$25,000$25,000
18
Wayfinding Sign for Art DistrictDowntown Vision & Master Plan$-$25,000$25,000
Town Square Planning and
19
Financial AnalysisAll CRA Plans$36,050$25,000$61,050
Heritage Trail Creation (Approved
20
6/12/12)All CRA Plans$-$2,000$2,000
Sub-Total$2,191,585$2,918,770$5,110,355
DIFA & Brownfield Payments$927,500
Total Project Fund$6,037,855
(a) Balance of $92,145 reallocated to Tree Lighting Project - Promenade, Ocean Ave.
(b) Total of $17,500 received from HAP shortsales and reallocated to Acquisitions in FY 13-14.
(c) Balance of $36,050 reallocated to Town Square Project.
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BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY
CAPITAL IMPROVEMENT PLAN
FY 2013-2014
FY 2012-2013
Project Expenditures & Budget to Additional
Total Budget Encumbrances Rollover Funding FY 2013-2014
Magnuson House$349,375$186,795$-$186,795$-$186,795
02-58200-404
Marina
02-58200-404
Fuel Station Relocation, Site Work)$1,600,000$1,300,000$19,300$1,280,700$319,300$1,600,000
02-58200-402 Marina Entry Signage at BBB &
Federal Highway$118,534$96,134$3,989$92,145(a)
Parking Redevelopment$435,851$435,851$7,456$428,395$100,000$528,395
02-58200-404
Entry Signage at North & South
Federal Highway$100,000$-$-$-$-$100,000
02-58200-402
Wayfinding Signs (Arts District)$25,000$-$-$-$-$25,000
02-58200-402
02-58200-406 Tree Lighting Project
(Promenade/Ocean Avenue)$92,145$-$-$-$-$92,145
TOTAL$2,720,905$2,018,780$30,745$1,988,035$419,300$2,532,335
(a) Reallocated to Tree Lighting Project - Promenande, Ocean Avenue
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BOYNTON BEACH CRA
FY 2013-2014
PROPOSED SPECIAL EVENTS
2013/2014
PROPOSED
DATEBUDGET
2013/2014 PROPOSED EVENTS
HOLIDAY EXTRAVAGANZA
PARADE$25,000
Saturday, December 7, 2013
TREE & DECORATIONS$20,000
CONCERT$60,000
Holiday Event Total
$105,000
HOLIDAY BOAT PARADE
Friday, December 13, 2013
Boynton Harbor Marina$9,000
MOVIES ON THE AVE
Ocean Avenue Amphitheatre$10,000
OCEAN AVENUE CONCERT SERIES
Ocean Avenue Amphitheatre$15,000
June 20,2014 - July 18, 2014 - August 15, 2014 -
CATCH A DANCE
September 19, 2014
$10,000
Boynton Beach Haunted
Saturday & Sunday October 25 & 26, 2014
$102,500
Pirate Fest & Mermaid Splash
Ocean Avenue
Every Saturday
COMMUNITY FARMERS MARKET
Dewey Park$3,500
SPECIAL EVENTS GRANT
PROGRAM$10,000
$265,000
TOTAL COST OF EVENTS
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BOYNTON BEACH CRA
FY 2013-2014
PROPOSED Marketing Budget
Development of enhancing our "Catch A" brand
Creative development for a destination brand, theme
development, Templatesheets to use in house for
stationary, promotional merchandise and 3
Brand and Tagline
dimensional for web, 8 "Catch A" brand & 4 tag line
Development Campaign $9,500
choices
Collateral Campaign for Design and develop a custom brochure and 2
Brokers$4,600
promotional rack card templates
Design & Develop a custom "Catch A" brochure and
2 promotional rack card templates 10 Social
promotions for the Marina, Merchants and Economic
Promotional Collateral$6,500
Development
Palm Beach Post Monthly Ad Placement$8,500
FYI Newsletter TemplateFYI Template summer/winter/spring$3,500
Design Marketing ad
Campaign$2,800
Design ads for monthly newspaper
Email Campaigns with call Custom Program Blast monthly promotions and
to action programs$1,200
marketing blasts
Annual ReportDesign & layout$4,500
Florida Cruising Magazine -
Design half page ad in Florida Cruising magazine
Marina$4,000
and placement
Promotional Collateral
design$2,500
create and development for posters& postcards
Double page spread bi monthly of local business
Boynton Forum$7,560
with the "Catch A" tagline
Promotional Base
Messaging Postcard$2,800
Postcard campaign "Meet Your Neighbors"
Downtown Merchant &
Marketing promotions project-HarborMaster
Marina Campaign$4,500
Building
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Direct Mail CampaignShop Boynton$2,800
Billboards$9,000
Pirates and special events
ImagesPhotography for in-house collateral$740
Redesign and Replacement of Ocean Ave. and
Downtown Banners$20,000
Marina banners
Total$95,000
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BOYNTON BEACH CRA - GENERAL FUND
FUND BALANCE ANALYSIS
Fund Balance 9/30/12 - Unassigned$483,875
Less:
1. Rollover from FY 2011-2012 incorporated into FY 2012-2013
Budget $(25,000)
2. Fund Balance Allocation for FY 2013-2014 Budget $(300,000)
Estimated Unassigned Fund Balance as of 9/30/13 $158,875
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BOYNTON BEACH CRA
PROPOSED SALARY SCHEDULE
FISCAL YEAR 2013-2014
PROPOSED ORGANIZATION CHARTProposedChange
YEARS OF CURRENT
CHANGES - FY 2013-2014Salary Incr/(Decr)
NAME SERVICEPOSITIONSALARY
Vivan Brooks8.7Executive Director$118,450
Reclassification to Assistant Director (a)$95,000$9,563
Michael Simon6.7Development Director$85,437
Susan Harris8.0Finance Director$90,262
Not funded in FY 13-14$-$(72,884)
VACANTMarketing & Public Relations Director$72,884
Kathy Biscuiti7.0Special Events Director$69,233
Vicki Hill3.0Finance Assistant$67,200
Theresa Utterback4.6Administrative Services Manager$55,878
Increased Marketing Responsibility$55,000$9,000
Tracy Smith-Coffey0.5Business Development Specialist$46,000
Support of Mkting., Events & Business Devl.(a)$35,000$35,000
VACANT - To be filledMarketing/Events/Business Devl. Assistant$-
Total Salaries FY 2012-2013$605,344$(19,321)
Effect of Org Chart Changes
$(19,321)
3% Merit Pool (excl. Org Chart Changes)
$12,031
Sub-Total
$(7,290)
Proposed Total Salaries FY 13-14$ 598,054
Taxes & Benefits (Based on Org Chart Changes)
FICA Taxes
$45,760
Health Insurance
$70,560
Dental Insurance
$2,913
Vision Insurance
$405
Life Insurance
$713
Long Term Disability
$2,787
Retirement Benefits (b)
$89,708
Total Taxes & Benefits
$212,846
Total Benefit Cost (excl. taxes) as % of
total Proposed Salaries20.6%
Proposed Total Salaries & Benefits
FY 13-14
$ 810,899
Comparison to Prior Year
Total Salaries & Benefits FY 12-13$830,090
Decrease - Amount$(19,191)
Decrease - Percent-2.3%
(a) Reinstatement of previously funded position.
(b) CRA retirement percentage = 15% total versus City's contribution to General Employees'
Pension Fund = five year range of 17.24% to 27.80% annually (source: City Finance Dept.)
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BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY
PROPOSED FOR FY 2013-2014 - POSITION CLASSIFICATIONS & SALARY RANGES
YRS OF
INCUMBENTSVCPOSITIONSTATUS(a)FLSA(b)MINIMUMMID-POINTMAXIMUM
Executive DirectorFE$94,000$117,000$140,000
Vivian Brooks8.7
Assistant Director (c)FE$78,000$95,000$115,000
Mike Simon6.7
Finance DirectorFE$70,000$90,000$110,000
Susan Harris8.0
Development DirectorVE$60,000$74,000$94,000
Vacant
Marketing & Public Relations DirectorVE$55,000$67,000$84,000
Vacant
Special Events DirectorFE$45,000$64,000$80,000
Kathy Biscuiti7.0
Finance AssistantFN$45,000$64,000$80,000
Vicki Hill3.0
Administrative Services ManagerFE$42,000$56,000$75,000
Theresa Utterback4.6
Business Development SpecialistFE$40,000$55,000$70,000
Tracy Smith-Coffey0.5
Marketing/Events/Bus. Devl. Asst. (c) To be filledN$30,000$38,000$50,000
Vacant
Administrative AssistantVN$30,000$38,000$50,000
Vacant
(a) Status:
F = Filled Position
V = Vacant Position
(b) FLSA = Fair Labor Standard Act; E=Exempt; N=Non-exempt
(c) Proposed - reinstated previously funded position.
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Boynton Beach CRA
General Fund - Budget Summary
FY 2012-20132013-2014
Proposed vs. 2012-2013
OriginalAmendedYear EndProposed Increase/(Decrease)
REVENUESBudgetBudgetEstimateBudgetAmount%
Tax Increment Revenue (T.I.F.)$5,400,000$5,585,000$5,614,228$6,860,000$1,275,00023%
Marina Rents & Fuel Sales1,000,0001,000,0001,000,0001,000,000$-0%
Rollover - FY 2011-201225,00025,00025,000-$(25,000)-100%
General Fund Balance Allocation300,000300,000300,000300,000$-0%
Total Revenues $6,725,000$6,910,000$6,939,228$8,160,000$1,250,00018%
FY 2012-20132013-2014FY 2013-2014 Proposed
Proposed vs. 2012-2013
EXPENSESOriginalAmendedYear EndProposed Increase/(Decrease)Department Components
Department NameBudgetBudgetEstimateBudgetAmount%
Administration Operating
CRA Board $22,250$22,250$21,250$22,250$-0%$-$22,250
Administration
Executive Department 244,661253,645251,195264,128$10,4834%239,69324,435
Finance Department 215,441225,069223,919230,147$5,0782%218,29711,850
Planning Department188,892207,197206,457140,556$(66,641)-32%126,23614,320
Marketing & Business Devl.141,185145,658130,965150,038$4,3803%103,28846,750
Special Events Department100,781105,032103,212136,105$31,07330%123,45012,655
Sub-Total890,960936,601915,748920,974(15,627)-2%810,964110,010
ADMINISTRATIVE COSTS SAVINGS VERSUS PRIOR YEAR=-2%
ADMINISTRATIVE COSTS AS % OF GENERAL FUND=10%
Other GF Expenses
Insurances130,150130,150123,750166,850$36,70028%
Professional Services220,000220,000212,000212,000$(8,000)-4%
Buildings & Grounds345,600345,600337,000395,027$49,42714%
Marina Operations1,000,0001,000,0001,000,0001,000,000$-0%
Information Technology44,95044,95045,30052,450$7,50017%
Contingency25,00025,00025,00025,000$-0%
Sub-Total1,765,7001,765,7001,743,0501,851,32785,6275%
Total GF Operating$2,678,910$2,724,551$2,680,048$2,794,551$70,0003%
Operating Transfers Out
Transfer to Debt Service Fund2,112,1501,909,0831,909,0831,519,179
Transfer to Project Fund1,933,9402,276,3662,276,3663,846,270
Sub-Total$4,046,090$4,185,449$4,185,449$5,365,449
Total General Fund Expenses &
Transfers Out$6,725,000$6,910,000$6,865,497$8,160,000
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General Fund
CRA BOARD
FY 2012-2013FY 2013-2014
Dept. 51010OriginalYear EndProposedChange Incr/(Decr)
SUMMARY
BudgetEstimateBudgetAmount%
200CONTRACTUAL EXPENSES$7,500
$8,500$7,500$(1,000)-12%
216PUBLIC NOTICES$5,000
$2,700$4,000$2,30085%
225CONFERENCES, MEETINGS & SEMINARS$8,250
$8,250$8,250$-0%
227DELIVERY SERVICES$400
$500$400$(100)-20%
310OFFICE SUPPLIES$500
$500$500$-0%
340CELLULAR PHONES$600
$1,800$600$(1,200)-67%
$22,250$21,250$22,250$-0%
DETAIL
200CONTRACTUAL EXPENSES$8,500$7,500$7,500
Minutes for Board & Special Meetings - City Staff Costs$8,500$7,500$7,500
216PUBLIC NOTICES
Board Meeting & Legal Notices$2,700$2,700$5,000
225CONFERENCES, MEETINGS & SEMINARS$8,250$8,250$8,250
ABC's of CRAs $250$250$250
Florida Redevelopment Association$7,000$7,000$7,000
BoardTraining Workshops$1,000$1,000$1,000
227DELIVERY SERVICES$500$400$400
310OFFICE SUPPLIES$500$500$500
340CELLULAR PHONES$1,800$600$600
Notes:
Overall flat to prior year, reductions in contractual expenses and cellular phones offset by increased public notices
for RFPs and submission of CRA development projects to FRA and IDA.
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General Fund
PLANNING
FY 2012-2013FY 2013-2014
Dept. 51440OriginalAmendedYear EndProposedChange Incr/(Decr)
SUMMARY
BudgetBudgetEstimateBudgetAmount%
100PERSONNEL SERVICES$173,852$192,157$192,157$126,236
$(65,921)-34%
225CONFERENCES, MEETINGS & SEMINARS$5,320$5,320$5,320$5,320
$-0%
226MEMBERSHIP DUES$1,000$1,000$1,000$1,000
$-0%
227DELIVERY SERVICES$300$300$300$300
$-0%
229CAREER DEVELOPMENT$2,500$2,500$1,500$1,500
$(1,000)-40%
310OFFICE SUPPLIES$1,500$1,500$1,500$1,500
$-0%
340CELLULAR PHONE$1,620$1,620$1,380$900
$(720)-44%
360BOOK & PUBLICATIONS$300$300$300$300
$-0%
365OFFICE PRINTING COSTS $2,500$2,500$3,000$3,500
$1,00040%
$188,892$207,197$206,457$140,556$(66,641)-32%
DETAIL
100$173,852$192,157$192,157$126,236
PERSONNEL SERVICES
Assistant Director (formerly Development Director)
$80,983$85,437$85,437$95,000
Business Development Specialist (moved to
Marketing for FY 2013-2014)
$45,760$55,760$55,760$-
Benefits -Health
$16,704$16,704$16,704$8,820
Dental
$756$756$756$364
Vision
$100$248$248$51
Life & Long Term Disability
$842$967$967$483
Retirement Benefits
$19,011$21,434$21,434$14,250
FICA Taxes
$9,696$10,851$10,851$7,268
225$5,320$5,320$5,320$5,320
CONFERENCES, MEETINGS & SEMINARS
Planning & Community Workshops
$2,500$2,500$2,500$2,500
Economic Development Meetings
$1,000$1,000$1,000$1,000
Regional-Local Meetings
$500$500$500$500
Mileage
$1,320$1,320$1,320$1,320
226$1,000$1,000$1,000$1,000
MEMBERSHIP DUES
Multiple Listing Service & Realtors Association
$1,000$1,000$1,000$1,000
227$300$300$300$300
DELIVERY SERVICES
229$2,500$2,500$1,500$1,500
CAREER DEVELOPMENT
Florida Redevelopment Association Certification
$1,500$1,500$1,500$1,500
Web Training/Certification
$1,000$1,000$-$-
310$1,500$1,500$1,500$1,500
OFFICE SUPPLIES
340$1,620$1,620$1,380$900
CELLULAR PHONES
360$300$300$300$300
BOOK & PUBLICATIONS
365$2,500$2,500$3,000$3,500
OFFICE PRINTING COSTS
Notes:
Decrease in total budget due to moving of Business Development Specialist position to Marketing & Business Development Department.
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SPECIAL EVENTS
FY 2012-2013FY 2013-2014
Dept. 57500OriginalAmendedYear EndProposedChange Incr/(Decr)
SUMMARY
BudgetBudgetEstimateBudgetAmount%
100PERSONNEL SERVICES$90,091$94,342$94,342$123,450
$29,10831%
225CONFERENCES, MEETINGS & SEMINARS$3,220$3,220$3,400$4,800
$1,58049%
226MEMBERSHIP DUES$400$400$400$425
$256%
229CAREER DEVELOPMENT$1,500$1,500$1,500$1,500
$-0%
310OFFICE SUPPLIES$1,500$1,500$1,000$1,500
$-0%
340CELLULAR PHONE$1,320$1,320$1,320$1,680
$36027%
355SUBSCRIPTIONS$250$250$250$250
$-0%
400EQUIPMENT$2,500$2,500$1,000$2,500
$-0%
$100,781$105,032$103,212$136,105$31,07330%
DETAIL
100$90,091$94,342$94,342$123,450
PERSONNEL SERVICES
Salaries - Events Director
$65,943$69,295$69,295$69,295
Marketing/Events/Eco. Devl. Assistant (100% in
Planning in FY 12-13)
$-$-$-$17,500
3% Merit Pool + Incremental Taxes + Retirement
$-$-$-$2,547
Benefits -Health
$8,352$8,352$8,352$13,230
Dental
$378$378$378$546
Vision
$50$50$50$77
Life & Long Term Disability
$433$433$433$610
Retirement Benefits
$9,891$10,512$10,512$13,010
FICA Taxes
$5,044$5,322$5,322$6,635
225$3,220$3,220$3,400$4,800
CONFERENCES, MEETINGS & SEMINARS
Regional-Local Meetings
$1,000$1,000$1,000$1,000
FRA Conference
$1,500$1,500$1,200$1,700
Mileage
$720$720$1,200$2,100
226$400$400$400$425
MEMBERSHIP DUES
Florida Festivals & Events
$325$325$325$325
Gold Coast PR Council
$75$75$75$100
229$1,500$1,500$1,500$1,500
CAREER DEVELOPMENT
FL Festivals & Events Training
$1,500$1,500$1,500$1,500
310$1,500$1,500$1,000$1,500
OFFICE SUPPLIES
340$1,320$1,320$1,320$1,680
CELLULAR PHONES
355$250$250$250$250
SUBSCRIPTIONS
400$2,500$2,500$1,000$2,500
EQUIPMENT
Notes:
Increases due to additional expenses related to 50% sharing of Marketing/Events/Business Development Assistant.
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General Fund
INSURANCES
FY 2012-2013FY 2013-2014
Dept. 51410OriginalYear EndProposedChange Incr/(Decr)
SUMMARY
BudgetEstimateBudgetAmount%
200CONTRACTUAL EXPENSES$23,650$23,250$11,350$(12,300)-52%
213GENERAL PROPERTY COVERAGE$81,000$76,000$133,500$52,50065%
214EMPLOYEE FIDELITY COVERAGE$1,000$1,000$1,000$-0%
154OTHER INSURANCES$24,500$23,500$21,000$(3,500)-14%
$130,150$123,750$166,850$36,70028%
DETAIL
200CONTRACTUAL EXPENSES$23,650$23,250$11,350
Agency Fee$12,000$12,000$-
Computers & Software Policy$1,500$1,600$1,600
Marina Fuel Tank Coverage$1,650$1,150$1,250
Special Events & Concerts Policy$3,500$3,500$3,500
Flood Insurance$5,000$5,000$5,000
213PROPERTY & LIABILITY COVERAGE$81,000$76,000$133,500
Policy for Property & General Liability$76,000$76,000$126,000
Includes: Property, General Liability, Fuel
Dock, Public Officials Liability, Employment
Practices Liability, Automobile
Construction Policies - Marina $5,000$-$7,500
214EMPLOYEE FIDELITY COVERAGE$1,000$1,000$1,000
Money & Security Insurance - Crime and
Computer Fraud
OTHER INSURANCES$24,500$23,500$21,000
153Retirement Plan Fees$1,000$1,000$1,000
154Workers Comp Insurance$3,500$2,500$2,500
159Unemployment Payments$5,000$5,000$2,500
161Leave Payouts$15,000$15,000$15,000
Notes:
Increase due to estimated costs due to Public Officials/Employment Practices insurance as result of outstanding litigation,
offset by reduction in insurance broker fee and Workers Comp insurance.
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General Fund
PROFESSIONAL SERVICES
FY 2012-2013FY 2013-2014
Dept. 51420OriginalYear EndProposedChange Incr/(Decr)
SUMMARY
BudgetEstimateBudgetAmount%
200CONTRACTUAL SERVICES$137,000
$155,000$137,000$(18,000)-12%
201LEGAL SERVICES$60,000
$50,000$60,000$10,00020%
204OTHER PROFESSIONAL FEES$15,000
$15,000$15,000$-0%
$220,000$212,000$212,000$(8,000)-4%
DETAIL
200CONTRACTUAL EXPENSES$155,000$137,000$137,000
Audit Services
$30,000$18,500$18,500
Marina Audit & Fuel Collection Audit
$15,000$15,000$15,000
Bond Indenture Compliance
$15,000$15,000$15,000
Risk Assessment Standards/Financial Services
$30,000$30,000$30,000
CRA Marketing & Website Services
$25,000$25,000$15,000
Website - New Website Platform and Design
$-$-$20,000
Personnel Services
$20,000$20,000$20,000
Economic Development Financial Assessment
$10,000$3,500$3,500
Record Retention Consultant
$10,000$10,000$-
201LEGAL SERVICES$50,000$60,000$60,000
204OTHER PROFESSIONAL FEES$15,000$15,000$15,000
Fire Inspections
$500$500$500
City HR ILA
$14,500$14,500$14,500
Notes:
Reduction due to new audit services contract fees less than prior years.
Increase in Legal Services due to ongoing litigation-related expenses.
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General Fund
BUILDINGS & GROUNDS
FY 2012-2013FY 2013-2014
Dept.51620OriginalYear EndProposedChange Incr/(Decr)
SUMMARY
BudgetEstimateBudgetAmount%
200CONTRACTUAL EXPENSES$2,500
$2,500$2,500$-0%
201PROPERTY TAXES & ASSOCIATION DUES$75,000
$75,000$75,000$-0%
205RENTAL OF OFFICES$87,000
$85,500$83,500$1,5002%
208EQUIPMENT LEASES $10,000
$15,000$10,000$(5,000)-33%
209PROPERTY MAINTENANCE COSTS$188,527
$137,000$137,000$51,52738%
224SIGNAGE$15,000
$10,000$12,000$5,00050%
325ELECTRIC COSTS$10,000
$12,600$10,000$(2,600)-21%
326WATER COSTS$7,000
$8,000$7,000$(1,000)-13%
$345,600$337,000$395,027$49,42714%
DETAIL
200$2,500$2,500$2,500
CONTRACTUAL EXPENSES
Alarms & Pest Control
201$75,000$75,000$75,000
PROPERTY TAXES & ASSOCIATION DUES
205$85,500$83,500$87,000
RENTAL OF OFFICES
710 N. Federal Hwy
$82,000$80,000$82,000
Storage Facilities
$3,500$3,500$5,000
208$15,000$10,000$10,000
EQUIPMENT LEASES
209$137,000$137,000$188,527
PROPERTY MAINTENANCE COSTS
General Repairs
$25,000$25,000$25,000
Janitorial Services
$15,000$15,000$15,000
Property Maintenance
$72,000$72,000$103,527
Hurricane/Property Contingency
$25,000$25,000$25,000
Maintenance Support related to Special Events
$-$-$20,000
224$10,000$12,000$15,000
SIGNAGE
325$12,600$10,000$10,000
ELECTRICITY COSTS
326$8,000$7,000$7,000
WATER COSTS
Notes:
Increases due to 211 E. Ocean building refurbishment, Event Support formerly in Special Events budget and 710 rental increase.
Reductions in copier leases, electric, water.
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General Fund
MARINA
FY 2012-2013FY 2013-2014
Dept. 51630OriginalYear EndProposedChange Incr/(Decr)
SUMMARY
BudgetEstimateBudgetAmount%
200CONTRACTUAL EXPENSES$500
$500$500$-0%
209PROPERTY MAINTENANCE COSTS$35,800
$35,800$35,800$-0%
241MARINA MANAGEMENT CONTRACT$158,000
$158,000$158,000$-0%
242FUEL STATION OVERHEAD$34,200
$34,200$34,200$-0%
310OFFICE SUPPLIES$500
$500$500$-0%
325ELECTRIC COSTS$15,400
$15,400$15,400$-0%
326WATER CHARGES$2,100
$2,100$2,100$-0%
327$741,500
GASOLINE & DEISEL CHARGES$741,500$741,500$-0%
328$12,000
DIESEL SALES TAX$12,000$12,000$-0%
$1,000,000$1,000,000$1,000,000$-0%
DETAIL
200
CONTRACTUAL EXPENSES
Sea Spill Contract $500$500$500
209$35,800$35,800$35,800
PROPERTY MAINTENANCE COSTS
$9,100$9,100$9,100
Trash Removal & Janitorial Services
$26,700$26,700$26,700
Marina Maintenance
241$158,000$158,000$158,000
MARINA MANAGEMENT CONTRACT
242$34,200$34,200$34,200
OPERATIONS - Merchant Fees/Building/Phone
310$500$500$500
OFFICE SUPPLIES
325$15,400$15,400$15,400
ELECTRICITY COSTS
326$2,100$2,100$2,100
WATER CHARGES
327$741,500$741,500$741,500
GASOLINE & DEISEL CHARGES
328$12,000$12,000$12,000
DIESEL SALES TAX
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INFORMATION TECHNOLOGY
FY 2012-2013FY 2013-2014
Dept. 51650OriginalYear EndProposedChange Incr/(Decr)
SUMMARY
BudgetEstimateBudgetAmount%
200CONTRACTUAL EXPENSES$2,000$2,500$3,000$1,00050%
210CITY IT SUPPORT$23,000$22,500$24,000$1,0004%
211COMPUTER SOFTWARE & LICENSES$750$1,100$1,200$45060%
212FINANCIAL SOFTWARE MAINTENANCE$8,200$8,200$8,500$3004%
330TELEPHONE LINES$6,000$6,000$6,000$-0%
400EQUIPMENT COSTS$5,000$5,000$9,750$4,75095%
$44,950$45,300$52,450$7,50017%
DETAIL
200CONTRACTUAL EXPENSES$2,000$2,500$3,000
Financial Accounting Software Updates$500$500$1,000
Maintenance of Phone System$1,500$2,000$2,000
210 IT SUPPORT $23,000$22,500$24,000
211COMPUTER SOFTWARE & LICENSES$750$1,100$1,200
212FINANCIAL SOFTWARE MAINTENANCE$8,200$8,200$8,500
330TELEPHONE SYSTEM & DATA LINES$6,000$6,000$6,000
400EQUIPMENT COSTS$5,000$5,000$9,750
Notes:
Increase primarily related to cost for updated server.
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FY 2012-2013FY 2013-2014
CONTINGENCY ACCOUNT
OriginalYear EndProposedChange Incr/(Decr)
Dept. 51990BudgetEstimateBudgetAmount%
200CONTRACTUAL EXPENSES
Contingencies$25,000$25,000$25,000$-0%
`
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OPERATING EXPENSES
FY 2012-20132013-2014
Dept. 58100OriginalAmendedYear EndProposedChange Incr/(Decr)
SUMMARY
BudgetBudgetEstimateBudgetAmount%
202CONTINGENCY$75,000
$75,000$75,000$75,000$-0%
203PROFESSIONAL SERVICES$511,050
$86,050$86,050$50,000$425,000494%
213LEGAL SERVICES$25,000
$45,000$45,000$45,000$(20,000)-44%
$206,050$206,050$170,000$611,050$405,000197%
DETAIL
202$75,000$75,000$75,000$75,000
CONTINGENCY
203$86,050$86,050$50,000$511,050
PROFESSIONAL SERVICES
Old High School (a)
$36,050$36,050$-$-
Surveys & Appraisals
$10,000$10,000$10,000$35,000
Architectural Design Assistance
$40,000$40,000$40,000$40,000
Town Square Planning & Financial Analysis
$-$-$-$61,050
Boynton Beach Boulevard - Design
$-$-$-$375,000
213$45,000$45,000$45,000$25,000
LEGAL SERVICES
(a) Old High School consultant funding reallocated to Town Square Planning & Financial Analysis.
Notes:
Increases due to Town Square Planning and Boynton Beach Boulevard Design Plan.
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CAPITAL OUTLAY
FY 2012-20132013-2014
Dept. 58200OriginalAmendedYear EndProposedChange Incr/(Decr)
SUMMARY
BudgetBudgetEstimateBudgetAmount%
401PROPERTY PURCHASES$-$-$-$1,279,970
$1,279,970100%
402IMPROVEMENTS$96,134$96,134$3,989$125,000
$28,86630%
404CONSTRUCTION IN PROGRESS$1,704,379$1,922,646$26,756$2,315,190
$392,54420%
405SITE WORK & DEMOLITION FEES$50,000$50,000$50,000$25,000
$(25,000)-50%
406INFRASTRUCTURE & STREETSCAPE$48,959$48,959$48,959$92,145
$43,18688%
$1,899,472$2,117,739$129,704$3,837,305$1,719,56681%
DETAIL
401$-$-$-$1,279,970
PROPERTY PURCHASES
402$96,134$96,134$3,989$125,000
IMPROVEMENTS
Marina Entry Signage at SE corner of BBB
$96,134$96,134$3,989$-(a)
Wayfinding Sign for Art District
$-$-$-$25,000
Entry Signage at North & South Federal Hwy.
$-$-$-$100,000
404$1,704,379$1,922,646$26,756$2,315,190
CONSTRUCTION IN PROGRESS
Marina - Phase 2
$1,300,000$1,300,000$19,300$1,600,000
Magnuson House - 211 E. Ocean Ave.
$186,795$186,795$-$186,795
Parking Redevelopment
$217,584$435,851$7,456$528,395
405$50,000$50,000$50,000$25,000
SITE WORK & DEMOLITION
406$48,959$48,959$48,959$92,145
INFRASTRUCTURE & STREETSCAPE
Tree Art Project - Ocean Avenue
$48,959$48,959$48,959$-
Tree Lighting Project -
Promenade/Ocean Avenue
$-$-$-$92,145
(a) Balance of $92,145 reallocated to Tree Lighting Project - Promenade, Ocean Ave.
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ECONOMIC DEVELOPMENT PROGRAMS
FY 2012-20132013-2014
Dept. 58400OriginalAmendedYear EndProposedChange Incr/(Decr)
SUMMARY
BudgetBudgetEstimateBudgetAmount%
444ECONOMIC DEVELOPMENT GRANTS$185,000$310,000$160,000$300,000
$(10,000)-3%
445MARKETING INCENTIVE PROGRAM$75,000$75,000$75,000$95,000
$20,00027%
443DIRECT INCENTIVE FUNDING AGREEMENTS (DIFA)$489,500$517,500$517,500$927,500
$410,00079%
470COMMUNITY SUPPORT PROJECTS$1,500$1,500$-$2,000
$50033%
$751,000$904,000$752,500$1,324,500$420,50047%
DETAIL
Economic Development Programs (Commercial Façade,
444Construction, Interior Build-Out, Rent Subsidy)$185,000$310,000$160,000$300,000
445Marketing Program - Downtown$75,000$75,000$75,000$95,000
443$489,500$517,500$517,500$927,500
DIRECT INCENTIVE FUNDING AGREEMENTS
DIFA - The Preserve/Cornerstone (Year 1 of 10)
$32,000$35,000$35,000$110,000
DIFA - Seabourn Cove - Phase 1 (Year 1 of 10)
$-$-$-$340,000
DIFA - Casa Costa (f/k/a The Promenade) (Year 4 of 10)
$390,000$410,000$410,000$410,000
DIFA - Wal-Mart (Year 2 of 10)
$45,000$50,000$50,000$45,000
Wal-Mart Brownfield Payment (Year 3 of 4)
$22,500$22,500$22,500$22,500
58500-
470$1,500$1,500$-$2,000
COMMUNITY SUPPORT PROJECTS
Realtor Training in Historic Preservation
$1,500$1,500$-$-
Heritage Trail Creation & Interactive Online Map
$-$-$-$2,000
Notes:
Increases primarily related to addition of DIFA payment for Seabourn Cove-Phase 1, increase in DIFA for Cornerstone,
new Downtown and Marina banners.
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PROJECTS & PROGRAMS
FY 2012-20132013-2014
Dept. 58500OriginalAmendedYear EndProposedChange Incr/(Decr)
SUMMARY
BudgetBudgetEstimateBudgetAmount%
480SPECIAL EVENTS$254,500$254,500$254,500$265,00010,5004%
DETAIL
480SPECIAL EVENTS$254,500$254,500$254,500$265,000
Holiday Extravaganza$100,000$100,000$100,000$105,000
- Parade
$20,000$20,000$20,000$25,000
- Tree, Lighting, Holiday Decorations
$20,000$20,000$20,000$20,000
- Concert
$60,000$60,000$60,000$60,000
.
Haunted Pirate Fest & Mermaid Splash$77,500$77,500$77,500$102,500
- Pirate Fest
$77,500$77,500$77,500$77,500
- Mermaid Splash
$-$-$-$25,000
.
Ocean Avenue Concert Series$15,000$15,000$15,000$15,000
- January/February/March/April/May
.
Other Events$62,000$62,000$62,000$42,500
- Boat Parade$11,000$11,000$11,000$9,000
- Movies on the Ave$15,000$15,000$15,000$10,000
- Community Farmers Market$3,500$3,500$3,500$3,500
- General Event Support$20,000$20,000$20,000$-
- Catch A Dance$-$-$-$10,000
- Special Events Grant Program$-$-$-$10,000
- Ocean Avenue Park - Sunday Concerts$7,500$7,500$7,500$-
- Kinetic Symposium$5,000$5,000$5,000$-
.
Notes:
Increase due to expansion of Pirate Fest with Mermaid Splash.
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Change Incr/(Decr)
2012-20132013-2014Prior Year vs FY 13-14
Dept. #Funding SourcesBudgetBudgetAmount%
49900Transfers In from General Fund$1,909,083$1,519,178(389,905)-20%
Fund Balance Allocation$400,000$-(400,000)-100%
Debt Service Reserve Fund
Allocation
$-$780,000780,0000%
$2,309,083$2,299,178$(9,905)0%
Dept. #Expenses
Bank of America Loan
59800-81014,3356%
Loan Principal $ 246,708 $ 261,043
59800-820(14,335)-25%
Loan Interest $ 58,130 $ 43,795
-0%
Sub-Total $ 304,838 $ 304,838
Series 2004 & Series 2005 Bonds - Unrefunded
59800-81125,0003%
Principal $ 725,000 $ 750,000
59800-821(29,000)-49%
Interest $ 59,000 $ 30,000
(4,000)-1%
Sub-Total $ 784,000 $ 780,000
Series 2012 (formerly Series 2004 & Series 2005A)
59800-814(26,000)-18%
Principal $ 143,000 $ 117,000
59800-82415,9054%
Interest $ 394,770 $ 410,675
(10,095)-2%
Sub-Total $ 537,770 $ 527,675
Series 2005B - Bond #2
59800-81220,0006%
Principal $ 310,000 $ 330,000
59800-822(15,810)-4%
Interest $ 371,975 $ 356,165
4,1901%
Sub-Total $ 681,975 $ 686,165
59800-830Financial Agent Fees-0%
$ 500 $ 500
Total Debt Service Fund Expenses$2,309,083$2,299,178$(9,905)0%
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BOYNTON BEACH CRA
AGGREGATE DEBT SERVICE REQUIREMENTS
Series 2012A &
2012B - Tax Series 2005B -
Increment Revenue Unrefunded Tax Increment Total Debt
YEARBOA LOANBonds Bonds Revenue BondService
FY 2013-2014$304,838$527,675$780,000$686,165$2,298,678
FY 2014-2015$304,838$1,306,680$-$689,335$2,300,853
FY 2015-2016$304,838$1,311,666$-$686,485$2,302,988
FY 2016-2017$-$1,625,934$-$675,863$2,301,797
FY 2017-2018$-$1,628,550$-$674,675$2,303,225
FY 2018-2019$-$1,626,270$-$672,358$2,298,628
FY 2019-2020$-$1,628,197$-$673,910$2,302,107
FY 2020-2021$-$1,623,202$-$674,050$2,297,252
FY 2021-2022$-$1,629,438$-$672,778$2,302,216
FY 2022-2023$-$1,624,600$-$675,093$2,299,693
FY 2023-2024$-$1,627,942$-$670,713$2,298,655
FY 2024-2025$-$1,564,235$-$914,920$2,479,155
FY 2025-2026$-$1,569,168$-$908,590$2,477,758
Total
$914,513$19,293,558$780,000$9,274,933$30,263,004
Interest Rates5.65%2.56%4.00%5.10% - 5.65%
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