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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 G t 0T O • �mow••' '47G* o 0 4 J .! • .. 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