Final Budget Hearing for West Palm Beach DDA on Sept. 21, 2021

FINAL BUDGET HEARING Downtown Development Authority Tuesday, September 21, 2021 5:05 PM 300 Clematis Street, Suite 200 West Palm Beach, FL 33401 https://us02web.zoom.us/j/89525044089 Dial: +1 929 436 2866 Webinar ID: 895 2504 4089

CALL TO ORDER

Rick Reikenis

PUBLIC HEARING FORMAT

Max Lohman

PRESENTATION •

Proposed Millage Rate and Tentative Budget

Raphael Clemente

PUBLIC COMMENTS AND QUESTIONS NEW BUSINESS •

Adoption of Resolution 06-2021 Setting Final Millage Rate for Fiscal Year 2021-2022 Rick Reikenis

•

Adoption of Resolution 07-2021 Final Budget for Fiscal Year 2021-2022

Rick Reikenis

CLOSE THE PUBLIC HEARING ADJOURNMENT

Rick Reikenis

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 21, 2021 1.

2.

3.

4.

5.

6.

7.

8.

The DDA should conduct the final public hearing on the proposed millage rate and the tentative budget in the following manner: After calling the final public hearing to order, the public hearing should be opened, and staff should make a presentation including the following items: • Announce that the proposed millage rate of 1.0 mill necessary to fund the budget is a 41.5% decrease from the rolled back rate of 1.7092.

Announce the proposed millage rate of 1.0 mill Provide summary of the tentative adopted budget 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.

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.

The public portion of the hearing should be closed.

Staff should make the following announcement: The West Palm Beach Downtown Development Authority’s rolled back rate is 1.7092 mills. The Downtown Development Authority is levying ad valorem taxes at a millage rate of 1.00 mill, which is a 41.5% decrease from the roll back rate.

9.

10.

Resolution 05-2021 should be read by title only, and then adopted by motion the motion should be "I move that the Adoption of Resolution 0 5-2021, setting the final millage rate for fiscal year 2021/2022 be set at 1.0000 mill".

11.

Resolution 0 6 -2021 should be read by title only, and then adopted by motion. The motion should be "I move the approval of Resolution 0 6 -2021, adopting the final budget for fiscal year 2021/2022.

12.

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

RESOLUTION NO. 06-2021 A RESOLUTION OF THE WEST PALM BEACH DOWNTOWN DEVELOPMENT AUTHORITY ADOPTING A FINAL MILLAGE RATE FOR FISCAL YEAR 2020/2021; 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 13, 2021, adopting a proposed millage rate and tentative budget; and WHEREAS, the Downtown Development Authority duly advertised and held a public hearing on September 21, 2021, 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 41.5% decrease from the rolled back rate of 1.7092 mills.

Section 3:

This final millage rate of 1.0000 mill is levied to fund expenses for the fiscal year commencing October 1, 2021, and ending September 30, 2022.

Section 4:

This Resolution shall take effect immediately upon adoption.

PASSED AND ADOPTED THIS 21st DAY OF SEPTEMBER 2021 WEST PALM BEACH DOWNTOWN DEVELOPMENT AUTHORITY ________________________________________ Rick Reikenis, 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 21st day of September 2021. _____________________________ RAPHAEL CLEMENTE EXECUTIVE DIRECTOR 300 Clematis Street, Suite 200, West Palm Beach, FL 33401 Phone: 561.833-8873|Fax: 561.833.5870| www.downtownwpb.com

RESOLUTION NO. 07-2021 A RESOLUTION OF THE WEST PALM BEACH DOWNTOWN DEVELOPMENT AUTHORITY ADOPTING THE FINAL BUDGET FOR FISCAL YEAR 2021/2022; 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 13, 2021, regarding the proposed millage and tentative budget; and WHEREAS, the Downtown Development Authority duly advertised and held its final public hearing on September 21, 2021 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 $8,547,000. The budget is based on a taxable value of real property of $2,589,879,416, personal property of $0, and anticipated ad valorem revenue of $2,460,385.

Section 2:

The final budget, attached as Exhibit A, is approved and the funds may be expended commencing on October 1, 2021, and ending on September 30, 2022.

Section 3:

Any and all carryover funds from the 2020/2021 final budget not expended during the fiscal year 2020/2021 may be used and expended during subsequent fiscal years.

Section 4:

This Resolution shall take effect immediately upon adoption.

PASSED AND ADOPTED THIS 21st DAY OF SEPTEMBER 2021 WEST PALM BEACH DOWNTOWN DEVELOPMENT AUTHORITY ________________________________________ Rick Reikenis, 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 21st day of September 2021. _____________________________ RAPHAEL CLEMENTE EXECUTIVE DIRECTOR 300 Clematis Street, Suite 200, West Palm Beach, FL 33401 Phone: 561.833-8873|Fax: 561.833.5870| www.downtownwpb.com

$

Façade Improvement Programs

Property & Business Incentives

Business Partnerships

6240

6320

6330 Totals

$

-

0

0

0

$

45,000 479,000

324,000

100,000

0

0

0

10,000

0

$

Business Training and Support

6230

-

2021-2022 CRA

4,738,785

6230-01 Business Training and Support - 12x12

$

$

0

Leasing/Brokers Meetings

6195

2021-2022 DDA

256,685

0 4,738,785 0 0 0 0 0 0 0 0 0 0 0 0 0

2021-2022 CRA

0

Business Development Grand Openings/New Business Training

Total Revenue $

Tax Revenues TIF DDA/CRA Interlocal Agreement DDA/City Interlocal Agreement CRA Project Funding Marketing/Sponsors/Dues Reimbursements - Physical Environment Reimbursements - Business Devlopment Reimbursements - Marketing & PR Interest - Seacoast Bank Rosemary Square MOU Grants Fees/Services Sponsorships Virgin Trains USA Ticket Sales Carryforwards

6140

4010 4020 4030 4032 4035 4040 4046 4047 4048 4050 4060 4070 4071 4072 4080

2021-2022 DDA 2,460,385 $ (2,278,400) 74,600 0 0 0 0 0 0 100 0 0 0 0 0 0

$

$

$

$

-

-

CRA/City Project Fund

CRA/City Project Fund

0

0

0

0

0

0

-

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

West Palm Beach Downtown Development Authority FY 2021/2022 Adopted Budget September 21, 2021 Resolution No. 06-2021 Exhibit A

3,190,605

0 0 0 0 0 0 0 0 0 0 0 0 0 0 3,190,605 $

$

360,925

0 0 0 0 0 0 0 0 0 0 0 0 0 0 360,925

$

$

60,000 456,505

75,000

106,515

0

145,450

40,500

29,040

$

$

0

0

0 49,188

0

0

49,188

-

CRA Carry Forward DDA Carry Forward

$

$

CRA Carry Forward DDA Carry Forward

$

$

$

$

105,000 984,693

399,000

206,515

49,188

145,450

40,500

39,040

Grand Total

8,547,000

Grand Total 2,460,385 (2,278,400) 4,813,385 0 0 0 0 0 0 100 0 0 0 0 0 3,551,530

Pressure Washing, Cleaning & Maintenance

Signage and Pedestrial Wayfinding

Landscape Maintenance

Graffitti Removal

Capital Projects

Downtown Cleaning Team

Marketing /Public Relations Advertising PR/Marketing Retail Promotions Community and Cultural Promotions Value Added Events Marketing Programs, Equipment & Web Collateral Materials

Neighborhood Services Residential Programming Community Engagement Transportation (Trolley) Security and Policing Public Space Programs Homeless Outreach

6220

6236

6245

6270

6280

6290

6295

6120 6122 6190 6210 6235 7700 6300

6372 6375 7500 7600 7605 7610

$

$

Totals $

Totals $

Totals

Public Realm Maintenance Holiday Lights 0

0

-

0 0 0 0 0 0

2021-2022 DDA 11,000 0 0 0 0 65,000 76,000

2021-2022 DDA

0 74,600

0

0

74,600

2021-2022 DDA

$

$

$

$

$

2021-2022 CRA 39,000 60,000 50,000 575,000 20,000 0 744,000

2021-2022 CRA 150,000 75,000 25,000 110,000 75,000 125,000 75,000 635,000

360,000 1,534,785

0

15,000

470,000

29,785

500,000

2021-2022 CRA 160,000 $

$

-

CRA/City Project Fund $ -

$

CRA/City Project Fund $ -

$

$

CRA/City Project Fund -

0 0 0 0 0

0 0 0 0 0 0 -

-

0

0

0

West Palm Beach Downtown Development Authority FY 2021/2022 Adopted Budget September 21, 2021 Resolution No. 06-2021 Exhibit A

$

0 15,000 730,000 250,000 20,000 0 1,015,000

CRA Carry Forward

CRA Carry Forward $ 332,295 151,240 60,000 60,000 104,522 50,000 50,000 $ 808,057

$

55,000 322,487

100,000

10,000

62,487

80,000

0

CRA Carry Forward 15,000 -

0 -

0

0

0

0

0

$

0 0 0 0 10,000 10,000

DDA Carry Forward $ -

DDA Carry Forward $ 60,596 0 0 30,000 0 0 48,873 $ 139,469

$

$

DDA Carry Forward

$

$

$

$

Grand TOTAL 50,000 75,000 780,000 825,000 40,000 75,000 1,845,000

Grand TOTAL 542,891 226,240 85,000 200,000 179,522 175,000 173,873 1,582,526

415,000 1,931,872

100,000

25,000

607,087

109,785

500,000

Grand TOTAL 175,000

Operations Dues Hospitality Board Meetings/Legal Notices Publications Telephone

Professional Services Studies and Surveys Accounting Audit Legal Professional Services

Personnel Insurance Rent Tax Collection Travel & Training Reserves

6010 6040 6030

6420 6430 6440 6450 6460

6241 6510 6520 6530 6540

7000 7100 7200 7300 7800 7900

$

Totals $

$

Totals $

Totals $

$

Totals $ Total Expenses

General Office General Office Equipment, Computers & Programs General Postage 0 0 -

-

0 0 18,000 17,285 0 35,285 256,685

2021-2022 DDA

24,000 0 20,000 0 44,000

2021-2022 DDA

0 7,000 5,500 300 14,000 26,800

2021-2022 DDA

2021-2022 DDA

$

$

$

$

$

$

0 0 0 0 0 -

2021-2022 CRA 890,000 40,000 198,000 0 0 0 1,128,000 4,738,785

2021-2022 CRA 50,000 0 25,000 0 58,000 133,000

2021-2022 CRA

2021-2022 CRA 35,000 42,000 8,000 85,000

$

$

$

$

$

$

$

-

CRA/City Project Fund

CRA/City Project Fund

CRA/City Project Fund

CRA/City Project Fund

0

0 0 0 0 0

0 0 0 0 -

0 0 0 0 0 -

-

0

West Palm Beach Downtown Development Authority FY 2021/2022 Adopted Budget September 21, 2021 Resolution No. 06-2021 Exhibit A

CRA Carry Forward 0 0 0 0 0 -

15,000 4,000 19,000

$

$

0 0 0 8,000 489,756 497,756 3,190,605

CRA Carry Forward

CRA Carry Forward $ 32,300 0 2,500 0 37,000 $ 71,800

$

$

$

CRA Carry Forward

$

$

$

$

$

$

$

0 0 -

0 0 0 0 138,018 138,018 360,925

DDA Carry Forward

0 0 12,000 0 12,000

DDA Carry Forward

0 12,250

DDA Carry Forward 9,000 3,250 0

DDA Carry Forward

$

$

$

$

$

$

$

Grand TOTAL 890,000 40,000 198,000 18,000 25,285 627,774 1,799,059 8,547,000

260,800

Grand TOTAL 82,300 24,000 27,500 32,000 95,000

9,000 10,250 5,500 300 14,000 39,050

Grand TOTAL

Grand TOTAL 35,000 57,000 12,000 104,000