R21-124 1
2 RESOLUTION R21-124
3
4 A RESOLUTION OF THE CITY OF BOYNTON BEACH, FLORIDA
5 RATIFYING THE 2021-2022 ANNUAL BUDGET FOR THE
6 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY
7 AND PROVIDING AN EFFECTIVE DATE.
8
9 WHEREAS, the Boynton Beach Community Redevelopment Agency was created by
10 Ordinance of the City Commission pursuant to Chapter 163, Florida Statutes. The
11 Redevelopment Agency has been designated a Florida Special District; and
12 WHEREAS, Florida Statutes 189.016 provides that the proposed budget of a dependent
13 special district, with the concurrence of the local governing authority, may be budgeted
14 separately; and
15 WHEREAS, a local governing authority may, in its discretion, review the budget or tax
16 levy of any special district located solely within its boundaries; and
17 WHEREAS, a final budget of the Boynton Beach Community Redevelopment Agency
18 has been reviewed and considered by the City Commission for the ensuing year, with
19 detailed information.
20 NOW,THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF
21 BOYNTON BEACH, FLORIDA THAT:
22 Section 1. The foregoing "Whereas" clauses are hereby ratified and confirmed as
23 being true and correct and are hereby made a specific part of this Resolution upon adoption
24 hereof.
25 Section 2. The City Commission of the City of Boynton Beach, Florida hereby
S:\CA\RESO\Budget\2021 -2022 Budget\Ratify CRA Budget(2021-22)-Reso.Docx
1 ratifies the adoption of the Boynton Beach Community Redevelopment Agency's 2021-2022
2 Annual Budget.
3 Section 3. This Resolution shall become effective immediately upon passage.
4 PASSED AND ADOPTED this 21st day of September, 2021.
5
6 CITY OF BOYNTON BEACH, FLORIDA
7 YES NO
8
9 Mayor—Steven B. Grant ,✓
10
11 Vice-Mayor—Woodrow L. Hay ✓
12
13 Commissioner—Justin Katz ✓
14
15 Commissioner—Christina L. Romelus �✓
16
17 Commissioner—Ty Penserga ✓
18
19 VOTE S�
20 ATTEST:
21 /
22 44I/ L 'L
23 C 'stat Gibson, MMC
24 City Clerk
25
26
27 (Corporate Seal)
28
29
30
S:\CA\RESO\Budget\2021 -2022 Budget\Ratify CRA Budget(2021-22)-Reso.Docx
RESOLUTION NO: R21-02
RESOLUTION OF THE BOYNTON BEACH COMMUNITY REDEVELOPMENT
AGENCY ADOPTING A BUDGET FOR THE FISCAL YEAR OCTOBER 1, 2021
TO SEPTEMBER 30, 2022, 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,
2021 and ending September 30, 2022, 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, 2021
through September 30, 2022 is hereby adopted.
2. This Resolution shall take effect immediately upon adoption.
PASSED AND ADOPTED this 14th day of September, 2021.
BOYNTON BEA H COMMUNITY
REDE -E.• + N j; ?
By: / 41111
Steven B. e. rt, Chair
S. Grant t/
J. Katz
W. Hay v
T. Penserga —V
C. Romelus
00551570-1
CRA FUNDING SOURCES/USES FY21/22 FY22/23 FY23/24 FY24/25 FY25/26
Tax Increment Revenue
(increased in future years by 3%) $ 15,801,715 16,275,766 16,764,039 17,268,961 17,784,969
Boynton Harbor Marina Fuel Dock&Slips Revenue $ 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000
Fund Balance Surplus $ 100,000
Projected Total Revenue $ 16,901,715 17,275,766 17,764,039 18,266,961 18,784,969
Debt&Operating Expenses
Debt Service Payment-FY 2005-06 Bonds used for
Affordable Housing&E.Boynton Beach Blvd.Extension $ 2,140,528 2,140,528 2,136,830 2,135,817 2,317,425
Agency Operating,Insurances,Administrative&Property
Maintenance Expenses $ 2,844,309 2,929,638 3,017,527 3,108,053 3,201,295
Total Debt&Operating Expenses $ 4,984,837 5,070,166 5,154,357 5,243,870 5,518,720
Boynton Harbor Marina Fuel Dock and Slips Expenses $ 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000
Tax Increment Revenue Funding Agreement(TIRFA)
Payments-Contractual Obligations
Wal-Mart(25%Years 6-10) Year 101. $ 17,500 - - -
Seaboum Cove-Phase I(50%-10 Years) Year 91. $ 437,000 450,110 463,613 - -
Seaboum Cove-Phase II(50%-10 Years) Year 8► $ 192,000 197,760 203,893 209,804 -
Preserve(75%Yrs 1-5;25%Yrs 6-10) Year 71. $ 30,000 30,900 31,827 32,782 33,765
500 Ocean(75%Yrs 1-4;50%Yrs 5-7;25%Yrs 8-10) Year 31. $ 465,000 478,950 493,319 450,161 463,666
Ocean One-Phase One(75%Yrs 1-7;50%Yr.8) 495,176 510,535
Townsquare Funding(until FY 2044-2045) Year 411. $ 3,550,000 3,550,000 3,550,000 3,550,000 3,550,000
Total TIRFA Payment Expenses $ 4,691,500 4,707,720 4,742,452 I 4,737,922 4,557,986
Remaining Fund Balance for Project Allocation
(Revenue-Debt Service,Operating&TIRFA) $ 6,225,378 $ 6,497,880 $ 6,867,231 $ 7,285,168 $ 7,708,284
BBCRA FISCAL YEAR 2021-2022 PROJECT FUND WORKSHEET Allocation Amount $ 6,225,378
Estimated CRA Board Project Fund Line
CRA Plan District FY 2021-2022 FY 20127 Rollover Item Allocators Total
Projects: Proposed FY 21122 Balances as of (Including any
91712021 Project Fund Rollover as of
Allocations 9(7/2021)
Heart of Boynton MLK Jr.Blvd.Corridor Redevelopment Projects(Includes 925k for NOP Office) $ 1,393,962 § 631,853 $ 2,025,815
Heart of Boynton MLK Jr.Blvd.Corridor(Centennial Project)-Local Government Match $ 625,750 $ - $ 625,750
Heart of Boynton Cottage District Workforce Housing Infill Redevelopment Project $ 73,825 $ 312,000 $ 385,825
Heart of Boynton Redevelopment Assistance for PBC Housing Authority Lots(purchase order FY 20.21) $ 500,000 $ - $ 500,000
Heart of Boynton Sara Sims Amphitheater(Purchase order for 5150,000 in FY 20-21) $ - $ - $
Acquisition of 508 E.Boynton Beach Blvd.-Closing November 2021-Balance Due:
Boynton Beach Blvd $523,000 $ 823,000 $ 823,000
BB Boulevard Streetscene Improvement Project
Boynton Beach Blvd (Total needed$1.5 million by FY 23/24) S 590,580 $ - $ 590,580
Bo nton Beach Blvd Ac uislton of 217 N.Seacrest Blvd.-Closin Jan.2023-Balance Due:$1 425000 $
Downtown
Federal Highway Historic Woman's Club of BB,ongoing Renovabons $ 51,525 $ 198,475 $ 250,000
District Wide Property Acquisition $ 77,843 $ 2,169,946 $ 2,247,789
District Wide Neighborhood Officer Program(NOPs)5th year of program $ 101,283 $ 423,344 $ 524,627
District Wide Commercial Economic Redevelopment Grants" $ 6,600 $ 550,000 $ 556,600
District wide Business Promotions&Events Assistance Project $ 40,000 $ 725,760 $ 765,760
District Wide Business 6 Marina Marketing Assistance Protect $ 59,000 $ 16,000 $ 75,000
Residential Grant Program(RGP)(Staff Recommends removing Program and moving
District Wide entire balance of 595k to MLK Jr.) $ - $ -
District Wide Signage Grant(recommend terminating program and reallocating$20,000 to MLN) $ - $ -
Diav,ct Wide Site Work,Demolition&Environmental $ 71,592 $ 125,000 $ 196,592
District Wide Professional Development Services(ArcldEng.AppraisalslFeasiility,etc.r $ 85,891 $ 125,000 $ 210,891
District Wide Development Project Related Legal Services"' $ - $ 125,000 $ 125,000
District Wide Contingency(recommend reducing to 51509 and move balance lo MLK Corridor) $ 150,000 $ 150,000
$ 3,780,917 $ 6,225,378 5 10,053,229
ALLOCATION BALANCE REMAINING $ 0
'Economic Devwopnenl rollover amount subject to change pending grant closeouts
^Professional Services.Legal and Economic Development rollover numbers are subject to change
-Development ProiM Related Legal Services rollover subject to change pending end of year Invoices
Boynton Beach CRA
General Fund -Budget Summary-FY 2021-2022
• FY 2020-2021 2020-2021 vs.Prior Year
FY 2021-2022 Original Amended Increase/(Decrease)
REVENUES Budget Budget _ Budget Amount
Tax Increment Revenue(TIF) $ 15,801,715 (a) $ 14,852,192 $ 14,852,192 $ 949,523 6%
Marina Rents&Fuel Sales $ 1.000,000 $ 1,000,000 $ 1,000,000 $ - 0%
Fund Balance Surplus $ 100.000 $ 100,000 $ 100,000 $ - 0%
Budget Amendment#1 2/9/2021 $ 445,561 $ (445,561) 0%
Total Revenues $ 16,901,715 $ 15,952,192 $ 16,397,753 $ 503,962 3%
(EXPENSES
CRA Board&Advisory Board $ 53,500 (b) $ 29,500 $ 29,500 $ 24,000 45%
Administration&Operations
Executive Department $ 470,985 (c) $ 406,471 $ 406,471 $ 64,514 14%
Finance Department $ 221,083 $ 211,557 $ 211,557 $ 9,526 4%
Planning&Development Department $ 188,037 $ 186,347 $ 186,347 $ 1,690 1%
Marketing&Business Development $ 284,386 $ 303,446 $ 303,946 $ (19,560) -7%
Business Promotion and Events Department $ 131,831 $ 71,928 $ 79,302 $ 52,529 40%
Taxes,Employee Benefits,Compensated Absences,Workers
Comp $ 460,239 $ 446,832 $ 446,832 $ 13,407 3%
Sub-Total $ 1,756,561 $ 1,626,581 $ 1,634,455 $ 122,106 7%
Other General Fund Expenses
Insurances $ 165,000 $ 172,500 $ 172,500 $ (7,500) -5%
Professional Services $ 179,500 $ 191,500 $ 191,500 $ (12,000) -7%
Buildings,Grounds,Maintenance $ 453,839 $ 674,159 $ 674,159 $ (220,320) -49%
Information Technology $ 89.000 $ 79,200 $ 79,200 $ 9,800 11%
Contingency $ 100,000 $ 100,000 $ 100,000 $ - 0%
Sub-Total $ 987,339 $ 1,217,359 $ 1,217,359 $ (230,020) -23%
Boynton Harbor Marina Fuel Dock&Slips Expenses $ 1,000,000 $ 1,000,000 $ 1,000,000 $ - 0%
Total General Fund Operating $ 3,797,400 (d) $ 3,873,440 $ 3,881,314 $ (83,914) -2%
Operating Transfers Out
Transfer to Debt Service Fund $ 2,140.528 $ 2,140,852 $ 2,140,852 $ (324) 0%
Transfer to Project Fund $ 10.963,787 $ 8,667,613 $ 9,553,549 $ 1,410,238 13%
Sub-Total $ 13,104,315 $ 10,808,465 $ 11,694,401 $ 1,409,914 11%
Total General Fund Expenses&
Transfers Out $ 16,901,715 $ 14,681,905 $ 15,575,715 $ (242,154) -1%
(a)Property values in CRA up 6%
(b)Increase due to ASL requirements added to all meetings
(c)Increase due to funding of the Administrative Assistant Position
(d)Decrease due to move to Townsquare
Boynton Beach CRA
Project Fund - Budget Summary
•
2021-2022 FY 2020-2021 2020-2021 vs.Prior Year
Original Amended Increase/(Decrease)
FUNDING SOURCES Budget Budget Budget Amount 1 %
1.Rollover FY 2020-2021 (see Budget Overview) $ 3,780,917 $ - $ 3,780,917 N/A
$ -
2.Transfers in from General Fund $ -
Other Financing Sources/Transfers In $ 10,963,787 $ 9,931,300 $ 9,931,300 $ 1,032,487 10%
$ -
3.Other Revenue/Financing Sources: $ -
1.Budget Amendment#1 2/9/21 $ 445,561
$ -
Total Funding Sources/Revenues&Transfers In $ 14,744,704 $ 9,931,300 $ 10,376,861 $ 4,813,404 46%
V
2021-2022 FY 2020-2021 2020-2021 vs.Prior Year
Original Amended Increase/(Decrease)
'EXPENSES Budget Budget Budget Amount
Professional&Other Expenses
Contingency $ 150,000 $ 361,081 $ 211,081 $ (61,081) -29%
Professional Services $ 210,891 $ 117,100 $ 117,100 $ 93,791 80%
Legal Services $ 125,000 $ 125,000 $ 125,000 $ - 0%
Sub-Total $ 485,891 $ 603,181 $ 453,181 $ 32,710 7%
Capital Outlay
Property Purchases $ 3,070,764 $ 475,000 $ 475,000 $ 2,595,764 546%
BBWC Capital Improvements $ 250,000 $ 190,000 $ 190,000 $ 60,000 32%
Site Work&Demolition Fees $ 196,592 $ 66,315 $ 66,315 $ 130,277 196%
Infrastructure&Streetscape $ 7,677,970 $ 5,577,732 $ 5,577,732 $ 2,100,238 38%
Sub-Total $ 11,195,326 $ 6,309,047 $ 6,309,047 $ 4,886,279 77%
Economic Development&Housing Rehab Program
Economic Development Grant Programs $ 556,600 $ 377,000 $ 948,000 $ (391,400) -41%
Marketing Program $ 75,000 $ 68,350 $ 68,350 $ 6,650 10%
DIFA-Economic Development $ 1,141,500 $ 1,632,000 $ 1,632,000 $ (490,500) -30%
Sub-Total $ 1,773,100 $ 2,077,350 $ 2,648,350 $ (875,250) -33%
Projects&Programs
Clean&Safe Program(Clean,Police,Code) $ 524,627 $ 370,000 $ 370,000 $ 154,627 42%
Business Promotional Events $ 765,760 $ 549,000 $ 549,000 $ 216,760 39%
Sub-Total $ 1,290,387 $ 919,000 $ 919,000 $ 371,387 40%
Total Project Fund Expenses $ 14,744,704 $ 9,908,578 $ 10,329,578 $ 4,415,126 43%
Boynton Beach CRA
Debt Service Fund - Budget Summary
V
FY 2021-2022 FY 2020-2021
Original Amended
Dept.# Funding Source Budget Budget Budget
49900 Transfers In from
General Fund $ 2,140,528 $ 2,137,822 $ 2,137,822
Expenses
Series 2012(formerly Series 2004&Series 2005A) -PNC Bank
59800-814 Principal $ 1,439,000 $ 1,397,000 $ 1,397,000
59800-824 Interest $ 190,438 $ 226,202 $ 226,202
Sub-Total $ 1,629,438 $ 1,623,202 $ 1,623,202
Series 2015(formerly Series 2005B) - BB&T
59800-815 Principal $ 420,000 $ 410,000 $ 410,000
59800-826 Interest $ 90,090 $ 103,620 $ 103,620
Sub-Total $ 510,090 $ 513,620 $ 513,620
59800-830 Financial Agent Fees $ 1,000 $ 1,000 $ 1,000
Total Debt Service
Expenses $ 2,140,528 $ 2,137,822 $ 2,137,822
. 11.IIIIIII.F lir
.M.rr ! t , r+ «, Y 021-2.'.
sus .s _ � - ..- --
Actual
Cost per FY 2021 Budget
Category Quantity Unit Cost per Unit Notes
Officer Salary&Incentive(Paramore) 1 $ 95,392 $ 95,392 Salary,Education Incentive
Officer Benefits-Pension 1 $ 41,568 $ 41,568 Pension
Officer Benefits 1 $ 17,524 $ 17,524 Healthcare,Dental,Vision,FICA
Officer Salary&Incentive(J Rivera) 1 $ 77,495 $ 77,495 Salary,Education Incentive
Officer Benefits-Pension 1 $ 32,117 $ 32,117 Pension
Officer Benefits 1 $ 16,155 $ 16,155 Healthcare,Dental,Vision,FICA
Officer Salary&Incentive(NEW) 1 $ 59,241 $ 59,241 Salary,Education Incentive(AVG)
Officer Benefits-Pension(NEW) 1 $ 28,051 $ 28,051 Pension(AVG)
Officer Benefits(NEW) 1 $ 14,358 $ 14,358 Healthcare,Dental,Vision,FICA(AVG)
(Civilian)Salary&Incentive Community 1 $ 38,763 $ 38,763 Salary,Education Incentive(AVG)
Service Officer(Vasquez)
(Civilian)Benefits-Pension 1 $ 15,413 $ 15,413 Pension(AVG)
(Civilian)Benefits 1 $ 13,192 $ 13,192 Healthcare,Dental,Vision,FICA(AVG)
Total Personnel Costs $ 449,269
tiUipfrtant -.._
Uniform 4 $ 500 $ 2,000 uniforms,belts
Misc.Equipment-As needed 1 $ 2,500 $ 2,500
Community Events/Promotions 1 $ 4,000 $ 4,000 Youth Programs
Vehicle Prefunding 4 $ 6,670 $ 26,678 FY 21 Interceptors
Vehicle Maintenance 4 $ 3,500 $ 14,000 Fuel,maintenance
Segway(Maintenance) 1 $ 1,000 $ 1,000 Battery Replacement
Total Equipment Costs $ 50,178
Cell Phones Service Plan 4 v $ 675 $ 2,700 $56.25/mo for staff
Office Supplies/Misc Supplies
1 $ 2,000 $ 2,000 Office Supplies(includes printer/copier)
Office Electric,Cable/Internet,
12 $ 515 $ 6,180 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 City Cleaning Crew(Gail)
Computer equipment 4 $ 250 $ 1,000 Misc,Cameras
Training 4 $ 1,000 $ 4,000 CPTED,CSO academy
,
Total Office Expenses $ 25,180
otal °ro fain c 'Vet-"",
ILA Amount for FY 21-22 $ 524,627
NOTE:All amounts provided by Police Department with exception of Contingency and ILA amount for FY 2022
Revised by CRA to include promotional/marketing materials and additional equipment.
BOYNTON BEACH CRA
TAX INCREMENT REVENUE ("TIR") ESTIMATE - FY 2021-2022
As of: June 24, 2021
1. ASSESSED VALUATIONS
FY 2020-2021 FY 2021-2022
ASSESSED VALUES $ 1,548,938,460 $ 1,634,696,520 (a)
Estimate
As of:6/24/2021
Chg.from Prior Year $ 85,758,060
5.5%
2. TAX INCREMENT REVENUE-ESTIMATED FOR NEW BUDGET YEAR
FY 2020-2021 FY 2021-2022 Estimates
Assessed Values $ 1,548,938,430 $ 1,634,696,520
Less Base Year Value $ 309,821,849 309,821,849
TIR Taxable Value $ 1,239,116,581 1,324,874,671
95%of Difference $ 1,177,160,752 $ 1,258,630,937
(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 $ 9,299,570 $ 9,943,184 62%
County $ 5,628,594 $ 6,018,144 38%
Sub-Total $ 14,928,164 $ 15,961,328
1.0%for True-Up $ 149,282 $ 159,613 1.0%for True-Up
Net TIR $ 14,778,882 $ 15,801,715
A
Budgeted
Change from Prey.Year
Amount $ 1,022,833
6.9%
(a) The Property Appraiser will issue revisions to the CRA's taxable values at the end of
June 2021, and in early October 2021, with a final certified tax value in mid-2022.
The CRA's budgeted tax increment revenue will be based on the first, or May 28, 2021,
"Estimates of Taxable Values"with a 1%deduction for the final Property Appraiser
certified tax adjustments("true-up") in mid-2022
Boynton Beach Community Redevelopment Agency
FY 2021-2022 Budget - Personnel
Personnel
Position FY 2020-2021 FY 2021-2022
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 Development Services Specialist (unfunded) 0 0
7 Grants and Project Manager 1 1
s Business Promotion and Events Manager 1 1
9 Business Promotions & Marketing Coordinator 1 0
10 Social Media Communications Specialist 1 1
11 Administrative Services Manager 1 1
12 Administrative Assistant 0 1
Total Personnel 10 10
Boynton Beach CRA Organization Chart FY 2021-2022
CRA Board
Executive
Director
�AdmumdrT4wr
A4iastant
) Assistant
Director
J
Finance
r• Director
•
'Development \ 'Grants and , 'Accountino&, 'Business , "'Social Media&
Services .—.Project Manager —Finance —.Promotions& Communications
Manager Manager Events Manager Specialist
•
Sery
Services
Business Promotions&
specialist Marketing Coordinator
(unfunded.)
* l