R19-095 1
2 RESOLUTION R19-095
3
4 A RESOLUTION OF THE CITY OF BOYNTON BEACH,
5 FLORIDA RATIFYING THE 2019-2020 ANNUAL BUDGET
6 FOR THE BOYNTON BEACH COMMUNITY
7 REDEVELOPMENT AGENCY AND PROVIDING AN
8 EFFECTIVE DATE.
9
10 WHEREAS, the Boynton Beach Community Redevelopment Agency was created
11 by Ordinance of the City Commission pursuant to Chapter 163, Florida Statutes. The
12 Redevelopment Agency has been designated a Florida Special District; and
13 WHEREAS,Florida Statutes 189.016 provides that the proposed budget of a dependent
14 special district, with the concurrence of the local governing authority, may be budgeted
15 separately; and
16 WHEREAS,a local governing authority may, in its discretion,review the budget or tax
17 levy of any special district located solely within its boundaries; and
18 WHEREAS, a final budget of the Boynton Beach Community Redevelopment
19 Agency has been reviewed and considered by the City Commission for the ensuing year,with
20 detailed information, and the administrative staff of the City has made recommendations as
21 to the amount necessary to be appropriated for the ensuing year.
22 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF
23 THE CITY OF BOYNTON BEACH, FLORIDA THAT:
24 Section 1. The foregoing "Whereas" clauses are hereby ratified and confirmed as
25 being true and correct and are hereby made a specific part of this Resolution upon adoption
26 hereof.
27 Section 2. The City Commission of the City of Boynton Beach, Florida hereby
C:\Users\Stanzionet\Appdata\Local\Microsoft\Windows\Inetcache\IE\DHL 1 S8RX\Ratify_CRA_Budget_(2019-20)_-_Reso.Docx
i ratifies the adoption of the Boynton Beach Community Redevelopment Agency's 2019-2020
2 Annual Budget.
3 Section 3. This Resolution shall become effective immediately upon passage.
4 PASSED AND ADOPTED this_day of , 2019.
5
6 CITY OF BOYNTON BEACH, FLORIDA
7
8 YES NO
9
10 Mayor—Steven B. Grant
11
12 Vice Mayor—Justin Katz 1/
13
14 Commissioner—Mack McCray ✓
15 /
16 Commissioner—Christina L. Romelus ✓
17 1/18 Commissioner—Ty Penserga
19
20
21 VOTE S"0
22
23 ATTEST:
24
25
26 AAi 1 DJ `64 al
27 ry;'al Gibson, MMC
28 Cit Clerk
29
30
31
32 (Corporate Seal)
33
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C:\U sers\Stanzionet\Appdata\Local\Microsoft\Windows\Inetcache\IE\DHL 1 S8RX\Ratify_CRA_Budget_(2019-20)_-_Reso.Docx
RESOLUTION NO: R19-03
RESOLUTION OF THE BOYNTON BEACH COMMUNITY REDEVELOPMENT
AGENCY ADOPTING A BUDGET FOR THE FISCAL YEAR OCTOBER 1, 2019
TO SEPTEMBER 30, 2020, AND PROVIDING AN EFFECTIVE DATE.
WITNESSETH:
WHEREAS, the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY
(BBCRA), in order to implement its Community Redevelopment Plan and provide for its
operating expenses, has prepared a Budget for the Fiscal Year beginning October 1,
2019 and ending September 30, 2020, attached hereto as Exhibit "I"; and
WHEREAS, the Board has determined that said Budget is in the public's interest
and is necessary to implement the BBCRA's goals and objectives.
NOW, THEREFORE, BE IT RESOLVED THAT:
1 The Budget attached hereto as Exhibit "I" for financial operations of the Boynton
Beach Community Redevelopment Agency for the period from October 1, 2019
through September 30, 2020 is hereby adopted.
2. This Resolution shall take effect immediately upon adoption.
PASSED AND ADOPTED this 10th day of September, 2019.
BOYNTON BEACH COMMUNITY
REDEVELOPMENT ICY
i
By: �
Steven B. Grant, Chair
S. Grant
J. Katz V
M. McCray
T. Penserga
C. Romelus
D0551570-1
Boynton Beach CRA
Project Fund - Budget Summary
e
2019-2020 FY 2018-2019 2018-2019 vs.Prior Year
Original Amended Increase/(Decrease)
(FUNDING SOURCES Budget Budget Budget Amount (
1.Rollover FY 2018-2019(see Budget Overview) $ 4,507,092 $ - $ - $ 4,507,092 N/A
$
2.Transfers in from General Fund $ -
Other Financing Sources/Transfers In $ 8,667,613 $ 7,462,303 $ 8,102,303 $ 565,310 7%
$
3.Other Revenue/Financing Sources: $ -
1.Cash Analysis-CRA Board Approved 4/9/2019 $ 640,000
$ -
Total Funding Sources/Revenues&Transfers In $13,174,705 $ 7,462,303 $ 8,742,303 $ 5,072,402 58%
e
2019-2020 FY 2018-2019 2018-2019 vs.Prior Year
Original AmendedIncrease/(Decrease)
EXPENSES Budget Budget _ Budget I Amount ( % j
Professional&Other Expenses
Contingency $ 100,000 $ 100,000 $ 100,000 $ - 0%
Professional Services $ 100,000 $ 204,979 $ 204,979 $ (104,979) -51%
Legal Services $ 125,000 $ 125,000 $ 125,000 $ - 0%
Sub-Total $ 325,000 $ 429,979 $ 429,979 $ (104,979) -24%
Capital Outlay
Property Purchases $ 472,830 $ 475,000 $ 475,000 $ (2,170) 0°!0
BWCC Grant Match $ 200,000 $ 190,000 S 190,000 $ 10,000 5%
Site Work&Demolition Fees $ 183,888 $ 66,315 $ 66,315 $ 117,573 177%
Infrastructure&Streetscape $ 7,152,925 $ 5,577,732 S 5,577,732 $ 1,575,193 28%
Future Development Projects $ 878,812 $ 883,712 S 883,712 $ (4,900) N/A
Sub-Total $ 8,888,455 $ 7,192,759 $ 7,192,759 $ 1,695,696 24%
Economic Development&Housing Rehab Program
Economic Development Grant Programs $ 543,000 $ 554,356 $ 554,356 $ (11,356) -2%
Marketing Program $ 68,350 $ 80,000 $ 80,000 $ (11,650) -15%
DI FA-Economic Development $ 1,632,000 S 1,207,000 $ 1,207,000 $ 425,000 35%
Sub-Total $ 2,243,350 $ 1,841,356 $ 1,841,356 $ 401,994 22%
Projects&Programs
Clean&Safe Program(Clean,Police,Code) $ 532,900 $ 370,000 $ 370,000 $ 162,900 44%
Community Support Projects $ 550,000 $ 125,000 $ 125,000 $ 425,000 340%
Business Promotional Events $ 635,000 $ 549,000 $ 549,000 $ 86,000 16%
Sub-Total $ 1,717,900 $ 1,044,000 $ 1,044,000 $ 673,900 65%
Total Project Fund Expenses $13,174,705 $ 10,508,094 $ 10,508,094 $ 2,666,611 25%
BOYNTON BEACH CRA
Sources & Uses of Funds
Fundinu Available for Projects - FY 2019-2020
Sources of Funds
General Fund Revenues
Tax Increment Revenue("TIR") $ 13,816,071
Marina $ 1,100,000
Fund Balance Surplus $ 50,000.00
Sub-Total Sources of Funds $ 14,966,071
Uses of Funds& Contractual Obligations (All Funds
General Fund-Operating Expenses $ 3,057,606
Marina $ 1,100,000
Debt Service $ 2,140,852
Sub-Total $ 6,298,458
Balance for Project Fund $ 8,667,613
Award
Less: Project Fund DIFA Payment Contractual Obligations: Factor
• Casa Costa $ 513,000 47.5% (Year 10 of 10)
•Wal-Mart $ 23,000 25.0% (Year 8 of 10)
• Seabourn Cove-Phase 1 $ 417,000 50.0% (Year 7 of 10)
•Seabourn Cove-Phase 2 $ 167,000 50.0% (Year 6 of 10)
• The Preserve- Cornerstone $ 117,000 75.0% (Year 5 of 10)
• 500 Ocean-Payable once project completed and on tax rolls.
Anticipated in 2019&budgeted for payment in FY 19-20 $ 395,000 75.0% (Year 1 of 10)
Sub-Total $ 1,632,000
Estimated Available Funding for Project Fund
Expenses $ 7,035,613
Boynton Beach Community Redevelopment Agency
FY 2019-2020 Budget - Personnel
Personnel
Position FY 2018-2019 FY 2019-2020
No. No.
1 Executive Director 1 1
2 Assistant Director 1 1
3 Finance Director 1 1
4 Accounting and Finance Manager 1 1
5 Development Services Manager 1 1
6 (a) Development Service Specialist 0 1
7 Marketing & Business Development Specialist 1 1
8 Business Promotion and Events Manager 1 1
9 Marketing/Events/Business Development Assistant 1 1
10 Social Media Communications Specialist 1 1
11 Administrative Services Manager 1 1
12 Administrative Assistant _ _ 0 0
Total Personnel 10 11
(a) Funded the Development Sevice Specialist position in FY 19-20
Boynton Beach CRA Organization Chart FY 2019-2020
r
CRA Board
Executive 1
Director
J
I
Assistant
Director
Finance
'• Director
i
Development Administrative Accounting & Business Marketing & Social Media&
Services Services and Finance Promotions& - Business —Communications
Manager Grant Manager Manager Events Manager Development Specialist
_ J si.. J ` J J Specialist J \. J
Development' (Administrative Marketing, Events &
Services Assistant Business Development
Specialist 1 (unfunded) Assistant
J J \ i
r
E ; r i fto -trar(r mr; ittrt _iIrr ytallt. I ;:' -IF
Category Actual mitre
(quantity Cost per Unit Subtotal
n Y,:4i �ibwua
ems. ....
Officer Salary f Incentive(Paramore) S 62,781 E: 721 Salary,Education Incentive
Officer Benefits-Pension 1 $ 30,078 $ 30,078 Pension
Officer Benefits 1 $ 13,330 $ 13,330 Healthcare,Dental,Vision,FICA
Officer Salary&Incentive(J Rivera) 1 $ 54,304 $ 54,304 Salary,Education Incentive
Officer Benefits-Pension 1 $ 26,017 $ 26,017 Pension
Officer Benefits 1 $ 12,680 $ 12,680 Healthcare,Dental,Vision,FICA
Officer Salary&Incentive(NEW) 1 $ 58,543 $ 58,543 Salary,Education Incentive(AVG)
Officer Benefits-Pension(NEW) 1 $ 28,050 $ 28,050 Pension(AVG)
Officer Benefits(NEW) 1 $ 13,005 $ 13,005 Healthcare,Dental,Vision,FICA(AVG)
(Civilian)Salary&Incentive Community
1 $ 34,000 $ 34,000 Salary,Education Incentive(AVG)
Service Officer(NEW)
(Civilian)Benefits-Pension(NEW) 1 $ 11,501 $ 11,501 Pension(AVG)
(Civilian)Benefits(NEW) 1 $ 13,500 $ 13,500 Healthcare,Dental,Vision,FICA(AVG)
per Tim Howard add 20%increase to
salary and benefit(in negotiations with $ 84,058
union)-will be adjusted
$ 441,847 Personnel Costs Total
Bike(New Officer) 1 S 1,300 $ 1,300 Bike for New Officer
Bike Rack/Hitch 4 $ 350 $ 1,400 For Each Officer(not one for Capt)
Bike Maintenance 1 $ 500 $ 500 Tires,Tubes,Seat,Lights
Uniform 4 $ 850 $ 3,400 uniforms,belts
Misc.Equipment-As needed 1 $ 2,000 $ 2,000 As needed&approved
Community Events/Promotions 1 $ 2,000 $ 2,000 Youth Programs
Vehicle Prefunding 4 $ 6,413 $ 25,653.40 FY19/20 Interceptors
Vehicle Maintenance _ _ 4 $ 3,400 $ 13,600.00 Fuel,maintenance
$ 49,853 Equipment Costs Total
Office Expenses
Cell Phones Service Plan 5 $ 675 $ 2,700 $56.25/mo for stall
Office Supplies/Misc Supplies 1 $ 1,000 $ 1,000 Paper,Pens etc.(includes printer/
copier)
Office Electric,Cable/Internet, 12 $ 500 $ 6,000 Monthly operating costs
water/sewage
Office Space Monthly Maintenance 12 $ 650 $ 7,800 Monthly Maint.Ocean Palm Plaza
Office Cleaning 1 $ 1,500 $ 1,500 Previously used City Clearning Crew
(Barbara)
Office Buildout Supples 1 $ 4,000 $ 4,000 security cameras,alarm,tv's
Office Furniture 4 $ 1,800 $ 7,200 desks/locker/cabinets
Computer equipment 4 $ 2,500 $ 5,000 laptop/docking station
Training 4 $ 1,500 $ 6,000 CPTED,CSO academy
$ 41,200 Office Expenses Total
Total Proposed Program Expenses $ 532,900
I
[ILA Amount for FY 19-20 $ 532,900
NOTE:All amounts provided by Police Department with exception of Contingency and ILA amount for FY 2019-2020
Revised by CRA to include promotional/marketing materials and additional equipment.
i
i
BOYNTON BEACH CRA
TAX INCREMENT REVENUE ("TIR") ESTIMATE - FY 2019-2020
As of: June 27, 2019
1. ASSESSED VALUATIONS
FY 2018-2019 1 FY 2019-2020
ASSESSED VALUES $ 1,351,302,263 $ 1,468,212,722 (a)
Estimate •
As of:6/27/19
Chg.from Prior Year $ 116,910,459
8.7%
2. TAX INCREMENT REVENUE-ESTIMATED FOR NEW BUDGET YEAR
FY 2018-2019 I FY 2019-2020 Estimates
Assessed Values $ 1,351,302,263 $ 1,468,212,722
Less Base Year Value $ 309,821,849 309,821,849
TIR Taxable Value $ 1,041,480,414 1,158,390,873
95%of Difference $ 989,406,393 $ 1,100,471,329
(Per Florida Statutes
Chapter 163.387(1)(a) Assumptions
Redevelopment Trust Fund) No Millage Change
City&County
Millage Rates
City 7.9000 7.9000
County 4.7815 4.7815
%of
Tax Increment Revenue Total TIR
City $ 7,816,311 $ 8,693,724 62%
County $ 4,730,847 $ 5,261,904 38%
Sub-Total $ 12,547,157 $ 13,955,627
1.0%for True-Up $ 125,472 $ 139,556 1.0%for True-Up
Net TIR S 12,421,686 $ 13,816,071
A
Budgeted
Change from Prey.Year
Amount $ 1,394,385
11.2%
(a) The Property Appraiser will issue revisions to the CRA's taxable values at the end of
June 2019, and in early October 2019, with a final certified tax value in mid-2020.
The CRA's budgeted tax increment revenue will be based on the first, or May 24, 2019,
"Estimates of Taxable Values"with a 1% deduction for the final Property Appraiser
certified tax adjustments ("true-up") in mid-2020
I
Boynton Beach GRA
Debt Service Fund - Budget Summary
T
2019-2020 I FY 2018-2019
Original Amended
Dept.# Funding Source Budget Budget Budget
49900 Transfers In from
General Fund .$ 2,140,852 $ 2,136,465 $ 2,136,465
Expenses
Series 2012 (formerly Series 2004&Series 2005A) - PNC Bank
59800-814 Principal $ 1,367,000 $ 1,331,000 $ 1,331,000
59800-824 Interest $ 261,197 $ 295,270 $ 295,270
Sub-Total $ 1,628,197 $ 1,626,270 $ 1,626,270
Series 2015(formerly Series 2005B)- BB&T
59800-815 Principal $ 395,000 $ 380,000 $ 380,000
59800-826 Interest $ 116,655 $ 129,195 $ 129,195
Sub-Total $ 511,655 $ 509,195 $ 509,195
59800-830 Financial Agent Fees c 1,000 $ 1,000 $ 1,000
Total Debt Service
Expenses $ 2,140,852 $ 2,136,465 $ 2,136,465
Boynton Beach CRA
General Fund - Budget Summary- FY 2019-2020
v FY 2018-2019 2019-2020 vs.Prior Year
2019-2020 Original Amended Increase/(Decrease)
REVENUES _ Budget _ Budget Budget Amount %
Tax Increment Revenue(TIF) $ 13,816,071 (a) $12,421,686 $ 12,421,686 $ 1,394,385 10%
Marina Rents&Fuel Sales $ 1,100,000 $ 1,000,000 $ 1,000,000 $ 100,000 9%
Fund Balance Surplus $ 50,000 $ 50,000
Total Revenues $ 14,966,071 $13,421,686 $ 13,421,686 $ 1,544,385 10%
EXPENSES
CRA Board&Advisory Board $ 29,500 $ 30,000 $ 30,000 $ (500) -2%
Administration
Executive Department $ 457,966 S 514,533 $ 522,480 $ (64,514) -14%
Finance Department $ 200,037 $ 189,408 $ 194,309 $ 5,728 3%
Planning&Development Department $ 154,448 $ 119,760 $ 122,060 $ 32,388 21%
Marketing&Business Development $ 254,374 $ 147,208 $ 149,089 $ 105,285 41%
Business Promotion and Events Department $ 80,488 $ 68,065 $ 69,756 $ 10,732 13%
Taxes, Employee Benefits, Compensated
Absences,Workers Comp $ 398,254 $ 414,399 $ 414,399 $ (16,145) -4%
Sub-Total $ 1,545,567 $ 1,453,373 $ 1,472,093 $ 73,474 5%
Other General Fund Expenses
Insurances $ 172,500 $ 172,500 $ 172,500 $ 0%
Professional Services $ 218,500 $ 264,000 $ 264,000 $ (45,500) -21%
Buildings,Grounds. Maintenance $ 912,039 $ 723,545 $ 723,545 $ 188,494 21%
Marina Operations $ 1,100,000 $ 1,000,000 $ 1,000,000 $ 100,000 9%
Information Technology $ 79,500 $ 80,550 $ 80,550 $ (1,050) -1%
Contingency $ 100,000 $ 100,000 $ 100,000 $ - 0%
Sub-Total $ 2,582,539 $ 2,340,595 $ 2,340,595 $ 241,944 9%
Total General Fund Operating $ 4,157,606 (b) $ 3,823,968 $ 3,842,688 $ 314,918 8%
Operating Transfers Out
Transfer to Debt Service Fund $ 2,140,852 $ 2,136,465 $ 2,136,465 $ 4,387 0%
Transfer to Project Fund $ 8,667,613 $ 7,462,303 $ 8,102,303 $ 565,310 7%
Sub-Total $ 10,808,465 $ 9,598,768 $ 10,238,768 $ 569,697 5%
Total General Fund Expenses&
Transfers Out $ 14,966.071 $13,422,736 $ 14,081,456 $ (242,154) -2%
(a)Property values in CRA up 10%
(b)Increase due to Property Maintenance at Marina and Woman's Club,and relocation fees for Townsquare move
and staff addition.
1