Final Hearing September

FINAL BUDGET HEARING Downtown Development Authority Tuesday, September 18, 2018 5:05 PM 300 Clematis Street, Suite 200 West Palm Beach, FL 33401

CALL TO ORDER

Robert Sanders

PUBLIC HEARING FORMAT

Abby Jorandby

PRESENTATION • Proposed Millage Rate and Tentative Budget

Raphael Clemente

PUBLIC COMMENTS AND QUESTIONS NEW BUSINESS • Adoption of Resolution 11-2018 Setting Final Millage Rate (Action Required)

Robert Sanders

• Adoption of Resolution 12-2018 Final Budget for Fiscal Year 18/19 (Action Required)

Robert Sanders

CLOSE THE PUBLIC HEARING ADJOURNMENT

300 Clematis Street, Suite 200, West Palm Beach, FL 33401 Phone: 561.833-8873|Fax: 561.833.5870| www.downtownwpb.com

DDA BUDGET - FINAL PUBLIC HEARING SEPTEMBER 18, 2018 The DDA should conduct the final public hearing on the proposed millage rate and the tentative budget in the following manner: 1.

After calling the final public hearing to order, the public hearing should be opened, and staff should make a presentation including the following items: a. Announce that the proposed millage rate of 1.0 mill necessary to fund the budget is a 12.73% decrease from the rolled back rate of 1.1459. b. Announce the proposed millage rate of 1.0 mill c. Provide summary of the tentative adopted budget

2.

Any member of the public desiring to address the DDA on the proposed millage or the tentative budget should be given the opportunity to do so. The public is permitted to ask questions prior to the closing of the public portion of the hearing.

3.

The DDA may amend the tentative budget and re-compute the proposed millage rate.

If the millage rate is changed, there must be a public announcement of the percent, if any, by which the new millage rate exceeds the rolled-back rate.

4.

The public portion of the hearing should be closed.

5.

Staff should make the following announcement: The West Palm Beach Downtown Development Authority’s rolled back rate is 1.1459 mills. The Downtown Development Authority is levying ad valorem taxes at a millage rate of 1.00 mill, which is a 12.73% decrease from the roll back rate.

6.

Resolution 11-2018 should be read by title only, and then adopted by motion The motion should be "I move that the Adoption of Resolution 11-2018, setting the final millage rate for fiscal year 2018/2019 be set at 1.0000 mill".

7.

Resolution 12-2018 should be read by title only, and then adopted by motion. The motion should be "I move the approval of Resolution 12-2018, adopting the final budget for fiscal year 2018/2019.

8.

By motion, the DDA should adjourn the public hearing and the meeting.

RESOLUTION NO. 11-2018 A RESOLUTION OF THE WEST PALM BEACH DOWNTOWN DEVELOPMENT AUTHORITY ADOPTING A FINAL MILLAGE RATE FOR FISCAL YEAR 2018/2019; PROVIDING AN EFFECTIVE DATE; AND FOR OTHER PURPOSES WHEREAS, by State law, the West Palm Beach Downtown Development Authority, an independent special district, is required to annually hold advertised public hearings in order to fix a millage rate to be levied by the Downtown Development Authority; and WHEREAS, the Downtown Development Authority held a public hearing on September 11, 2018, adopting a proposed millage rate and tentative budget; and WHEREAS, the Downtown Development Authority has duly advertised and held a public hearing on September 18, 2018, in order to adopt a final millage rate and final budget, in accordance with Section 200.065(2)(d), Florida Statutes.

NOW, THEREFORE, BE IT RESOLVED BY THE WEST PALM BEACH DOWNTOWN DEVELOPMENT AUTHORITY THAT: Section 1:

The Downtown Development Authority does hereby adopt its final millage rate of 1.0000 mill to be levied necessary to fund the final budget upon all real property located within the boundaries of the above named taxing authority.

Section 2:

The final levy of 1.0000 mill is a 12.73% decrease from the rolled back rate of 1.1459 mills.

Section 3:

This final millage rate of 1.0000 mill is levied to fund expenses for the fiscal year commencing October 1, 2018 and ending September 30, 2019.

Section 4:

This Resolution shall take effect immediately upon adoption.

300 Clematis Street, Suite 200, West Palm Beach, FL 33401 Phone: 561.833-8873|Fax: 561.833.5870| www.downtownwpb.com

PASSED AND ADOPTED THIS 18th DAY OF SEPTEMBER 2018 WEST PALM BEACH DOWNTOWN DEVELOPMENT AUTHORITY ________________________________________ Robert Sanders, Esq. Chairman

ATTEST: __________________________

CERTIFICATE

I, the undersigned, Executive Director of the West Palm Beach Downtown Development Authority, do hereby certify that the foregoing is a true and correct copy of the Resolution adopted by said Authority on the 18th day of September 2018.

_____________________________ RAPHAEL CLEMENTE EXECUTIVE DIRECTOR

RESOLUTION NO. 12-2018 A RESOLUTION OF THE WEST PALM BEACH DOWNTOWN DEVELOPMENT AUTHORITY ADOPTING THE FINAL BUDGET FOR FISCAL YEAR 2018/2019; PROVIDING AN EFFECTIVE DATE; AND FOR OTHER PURPOSES WHEREAS, in accordance with State law, the West Palm Beach Downtown Development Authority, an independent special district, is required to hold advertised public hearings each fiscal year in order to adopt an annual budget; and WHEREAS, the Downtown Development Authority held a public hearing on September 11, 2018, regarding the proposed millage and tentative budget; and WHEREAS, the Downtown Development Authority has duly advertised and held its final public hearing on September 18, 2018 to adopt a final millage rate and final budget, in accordance with Section 200.065(2)(d), Florida Statutes.

NOW, THEREFORE, BE IT RESOLVED BY THE WEST PALM BEACH DOWNTOWN DEVELOPMENT AUTHORITY THAT: Section 1: The proposed expenditures in the final budget are $6,589,6213. The budget is based on a taxable value of real property of $2,093,560,919, personal property of $0, and anticipated ad valorem revenue of $2,093,561.

Section 2: The final budget, attached as Exhibit A, is approved and the funds may be expended commencing on October 1, 2018, and ending on September 30, 2019.

Section 3: Any and all carryover funds from the 2017/2018 final budget not expended during the fiscal year 2017/2018 may be used and expended during subsequent fiscal years.

Section 4:

This Resolution shall take effect immediately upon adoption.

PASSED AND ADOPTED THIS 18th DAY OF SEPTEMBER 2018

300 Clematis Street, Suite 200, West Palm Beach, FL 33401 Phone: 561.833-8873|Fax: 561.833.5870| www.downtownwpb.com

WEST PALM BEACH DOWNTOWN DEVELOPMENT AUTHORITY ________________________________________ Robert Sanders, Esq. Chairman ATTEST: _________________________

CERTIFICATE

I, the undersigned, Executive Director of the West Palm Beach Downtown Development Authority, do hereby certify that the foregoing is a true and correct copy of the Resolution adopted by said Authority on the 18th day of September 2018.

_____________________________ RAPHAEL CLEMENTE EXECUTIVE DIRECTOR

Tax Revenues

Totals

$

0

Reimbursements - Marketing & PR

$

0 0 0 0

Business Partnerships

Value Added Events

Grand Openings/New Business Training

0

Business Training and Support

Retail Promotions

0 0

Leasing/Brokers Meetings

0 0

Façade Improvement Programs

Business Development

Property & Business Incentives

2018-2019 DDA

$

0

305,291

0

Total Revenue

Carryforwards

0

0

Sponsorships

0

75,000 447,000

6,000

22,000

110,000

30,000

4,000

70,000

130,000

2018-2019 CRA

3,795,780

0

0 0

0

0

0

0

0

0

0

0

Fees/Services

123,205

0 0 3,795,780

2018-2019 CRA

Grants

CityPlace Shuttle

100

0

Reimbursements - Business Devlopment

Interest - First Bank

0 0

0

CRA Project Funding

Reimbursements - Physical Environment

0

Marketing/Sponsors/Dues

0

DDA/City Interlocal Agreement

(1,806,897)

DDA/CRA Interlocal Agreement

TIF

2018-2019 DDA $ 1,988,883

$

0

0

0

0

CRA/City Project Fund

0 0

0

0

0

0

0

0

0

413,938

0

0

0

0

0

0

0

0

0

0

413,938

CRA/City Project Fund

West Palm Beach Downtown Development Authority FY 2018/2019 Proposed Budget Exhibit A

$

$

0

0

0

0

0

0

0

0

0

0

0

0

0

0

243,023

18,865

3,329

21,892

12,602

918

64,538

120,878

CRA Carry Forward

1,646,564

1,646,564

CRA Carry Forward

$

$

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0 57,516

0

0

9,477

48,039

DDA Carry Forward

428,050

428,050

DDA Carry Forward

$

$

$

75,000 747,539

24,865

25,329

141,369

90,641

4,918

134,538

250,878

Grand Total

6,589,623

2,074,614

0

0

0

123,205

100

0

0

0

0

413,938

0

3,795,780

(1,806,897)

Grand Total 1,988,883

General Office General Office Equipment, Computers & Programs General Postage Office Supplies Totals

Residential Quality of Life Meetings Community Engagement Residential Services/ DNA Sponsor Totals

Marketing /Public Relations Survey Marketing Postage PR/Marketing Advertising Community and Cultural Promotions

Physical Environment Pressure Washing/Street Cleaning & Maintenance Graffitti Removal Landscape Maintenance Studies and Surveys Public Space Programs Security and Policing Holiday Lights/Promotions Transportation Signage and Pedestrial Wayfinding Capital Projects Totals

Totals

$

2017-2018 DDA 0 0 0 0

$

$

$

2017-2018 DDA $ 1,000 0 30,000 $ 31,000

$

$

$

$

0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0

2017-2018 DDA

2017-2018 DDA

2017-2018 CRA 50,000 98,000 937 0 148,937

0 30,000 0 30,000

2017-2018 CRA

2017-2018 CRA 13,000 8,500 135,000 190,000 100,000 446,500

2017-2018 CRA 316,000 25,000 140,000 0 60,000 524,000 100,000 404,300 0 0 1,569,300

$

$

CRA/City Project Fund 0 0 0 0

0 0 0 $0

CRA/City Project Fund

0 13,000 0 0 85,000 98,000

CRA/City Project Fund

CRA/City Project Fund $ 84,438 0 81,500 0 10,000 85,000 40,000 0 15,000 0 $ 315,938

West Palm Beach Downtown Development Authority FY 2018/2019 Proposed Budget Exhibit A

DDA Carry Forward 0 $ 0 0 0 72,216 $ 72,216 $

CRA Carry Forward 49,953 0 16,630 0 46,484 $ 113,066

DDA Carry Forward 0 $ 0 0 $0 $ DDA Carry Forward $ 3,000 $ 0 0 0 3,000 $

CRA Carry Forward 0 0 0 $0 CRA Carry Forward $ 15,000 8,500 150 0 23,650

$

300,700 203,697 198,973 1,144,227

DDA Carry Forward 0 $ 0 0 0 0 0 0 0 0 0 0 $

CRA Carry Forward 167,677 1,711 39,578 20,631 0 211,261

Grand TOTAL 68,000 106,500 1,087 0 175,587

Grand TOTAL 1,000 30,000 30,000 61,000

Grand TOTAL 62,953 21,500 151,630 190,000 303,700 729,782

Grand TOTAL 568,115 26,711 261,078 20,631 70,000 820,261 140,000 705,000 218,697 198,973 3,029,465

2017-2018 DDA 110,500 0 65,000 15,000 0 0 0 $ 190,500

Personnel Insurance Rent Tax Collection Marketing Programs, Equipment & Web Travel & Training Reserves Totals

0 24,000 0 27,000 51,000

$

2017-2018 DDA

2017-2018 DDA $ 6,000 16,791 7,000 3,000 0 0 $ 32,791

Professional Services Professional Services Accounting Audit Legal Totals

Operations Auto Dues Hospitality Board Meetings/Retreat/Training Publications Telephone Totals

$

$

$

0

0 0 0 0 0

2017-2018 CRA 700,000 15,000 65,000 0 100,000 25,000 109,043 1,014,043

2017-2018 CRA 115,000 0 25,000 0 140,000

2017-2018 CRA

CRA/City Project Fund

CRA/City Project Fund

CRA/City Project Fund

West Palm Beach Downtown Development Authority FY 2018/2019 Proposed Budget Exhibit A

0 0 0 0 0 0 0

0 0 0 0 0

0 0 0 0 0 0 0

DDA Carry Forward 0 $ 0 3,000 0 300 0 3,300 $ DDA Carry Forward 0 $ 0 0 6,318 6,318 $ DDA Carry Forward 0 0 0 0 0 0 285,700 $ 285,700 $

CRA Carry Forward 0 0 0 0 107 20,000 20,107 CRA Carry Forward 25,000 0 11,550 0 36,550 CRA Carry Forward 0 37,353 0 0 5,000 10,147 13,441 65,941

Grand TOTAL 810,500 52,353 130,000 15,000 105,000 35,147 408,184 1,556,184

Grand TOTAL 140,000 24,000 36,550 33,318 233,868

Grand TOTAL 6,000 16,791 10,000 3,000 407 20,000 56,198