DDA BUDGET - FIRST PUBLIC HEARING SEPTEMBER 12, 2023
The DDA should conduct the first public hearing on the proposed millage rate and the tentative budget in the following manner:
1. After calling the first public hearing to order, the public hearing should be opened, and staff should make a presentation including the following items:
a. Announce that, in July, the DDA set the proposed millage rate at 2.0000 mils, which would result in an 85.5288% increase in millage from the rolled back rate (1.0780) necessary to fund the budget.
b. Subsequent to that time, the DDA Board has continued to refine its budget, and staff is now proposing that the DDA set its millage rate at .9700 mil, which would result in a 10% decrease in millage from the rolled back rate (1.0780) necessary to fund the budget.
c. Summary of tentative 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. By motion, the DDA should adopt the proposed millage rate. The motion should be "I move that the proposed millage rate for fiscal year 2023/2024 be set at .9700 mil". By motion, the DDA should adopt the tentative budget. The motion should be "I move the adoption of the fiscal year 2023/2024 tentative budget" as presented.
7. The time and place of the final public hearing should be announced - 5:05 P.M., Monday, September 18, 2023, at the office of the Downtown Development Authority, 107 S. Olive Avenue, Suite 200, West Palm Beach, FL.
8. By motion, the DDA should adjourn the public hearing and the meeting.
2023-2024 2023-2024 CRA/City Project Fund CRA Carry Forward DDA Carry Forward FY 23/24 4010 Tax Revenues @ .97 mil 3,351,255 $ - $ - $ - $ - $ 3,351,255 $ 4020 TIF (3,207,458) $ - $ - $ - $ (3,207,458) $ 4030 DDA/CRA Interlocal Agreement 6,558,713 $ - $ - $ - $ 6,558,713 $ 4032 DDA/City Interlocal Reimbursements - $ 250,000 $ - $ - $ 250,000 $ 4035 CRA Project Funding - $ - $ 250,000 $ - $ - $ 250,000 $ 4900 Interest 22,000 $ - $ 22,000 $ 4070 Grants 35,000 $ - $ 35,000 $ 4071 Fees/Services 200 $ - $ 200 $ 4210 Carryforwards - $ - $ - $ 2,373,532 $ 312,666 $ 2,686,198 $ Total Revenue 200,997 $ 6,558,713 $ 500,000 $ 2,373,532 $ 312,666 $ 9,945,908 $ 2023-2024 DDA 2023-2024 CRA CRA/City Project Fund CRA Carry Forward DDA Carry Forward Grand Total Business Development 6140 Grand Openings/New Business Training - $ 10,000 $ - $ 10,000 $ 20,000 $ 6195 Leasing/Brokers Meetings - $ 5,000 $ - $ 25,000 $ - $ 30,000 $ 6230 Business Training and Support - $ 55,000 $ - $ 85,000 $ - $ 140,000 $ 6240 Façade Improvement Programs 20,000 $ - $ 130,000 $ - $ 150,000 $ 6320 Property & Business Incentives 175,000 $ - $ 200,000 $ - $ 375,000 $ 6330 Business Partnerships - $ 30,000 $ - $ 70,000 $ - $ 100,000 $ Totals - $ 295,000 $ - $ 520,000 $ - $ 815,000 $
West Palm Beach Downtown Development Authority FY 24 Proposed Budget
8/18/2023
West Palm Beach Downtown Development Authority FY 24 Proposed Budget 2023-2024 2023-2024 CRA/City CRA DDA Grand District Services DDA CRA Project Fund Carry Forward Carry Forward TOTAL 6220 Holiday Lights - $ 235,000 $ - $ - $ - $ 235,000 $ 6236 Pressure Washing, Cleaning & Maintenance - $ 650,000 $ - $ 110,000 $ - $ 760,000 $ 6245 Signage and Pedestrial Wayfinding - $ 45,000 $ - $ 40,000 $ - $ 85,000 $ 6270 Landscaping - $ 425,000 $ 250,000 $ 67,748 $ - $ 742,748 $ 6280 Graffitti Removal - $ 12,500 $ - $ 5,000 $ - $ 17,500 $ 6290 Public Space Enhancements - $ 75,000 $ - $ - $ - $ 75,000 $ 6295 Downtown Clean Team - $ 400,000 $ - $ 135,000 $ - $ 535,000 $ Totals - $ 1,842,500 $ 250,000 $ 357,748 $ - $ 2,450,248 $ 2023-2024 2023-2024 CRA/City CRA DDA Grand Marketing /Public Relations DDA CRA Project Fund Carry Forward Carry Forward TOTAL 6120 Advertising - $ 400,000 $ - $ 50,000 $ - $ 450,000 $ 6122 PR/Marketing - $ 175,000 $ - $ 50,000 - $ 225,000 6190 Retail Promotions - $ 30,000 $ - $ 30,000 - $ 60,000 6210 Community and Cultural Promotions - $ 200,000 $ - $ 65,000 - $ 265,000 6235 Value Added Events - $ 100,000 $ - $ 50,000 - $ 150,000 7700 Marketing Programs, Equipment & Web - $ 100,000 $ - $ 50,000 - $ 150,000 6300 Collateral Materials - $ 80,902 $ - $ 50,000 - $ 130,902 Totals - $ 1,085,902 $ - $ 345,000 $ - $ 1,430,902 $ 2023-2024 2023-2024 CRA/City CRA DDA Grand Public Realm DDA CRA Project Fund Carry Forward Carry Forward TOTAL 6372 Placemaking Programs - $ 72,729 - $ 290,000 $ - $ 362,729 $ 7500 Transportation - $ 950,000 - $ 25,000 $ - $ 975,000 $ 7600 Downtown Ambassador Program - $ 900,000 - $ 145,000 $ - $ 1,045,000 $ 7610 Community Compassion Fund - $ 100,000 - $ - $ - $ 100,000 $ Totals - $ 2,022,729 $ - $ 460,000 $ - $ 2,482,729 $
11:53 AM
8/18/2023
AM West Palm Beach Downtown Development Authority FY 24 Proposed Budget 2023-2024 2023-2024 CRA/City CRA DDA Grand General Office DDA CRA Project Fund Carry Forward Carry Forward TOTAL 6010 General Office - $ 25,000 $ - $ 15,350 $ - $ 40,350 $ 6040 Equipment, Computers & Programs - $ 40,000 $ - $ - $ - $ 40,000 6030 General Postage 4,000 $ - $ - $ - $ 4,000 Totals 4,000 $ 65,000 $ - $ 15,350 $ - $ 84,350 $ 2023-2024 2023-2024 CRA/City CRA DDA Grand Operations DDA CRA Project Fund Carry Forward Carry Forward TOTAL 6420 Dues 4,000 $ - $ - $ - $ 2,000 $ 6,000 $ 6430 Hospitality 3,180 $ - $ - $ - $ 5,500 $ 8,680 $ 6440 Board Meetings/Legal Notices 3,562 $ - $ - $ - $ 2,000 $ 5,562 $ 6460 Telephone 8,000 $ - $ - $ - $ 2,000 $ 10,000 $ Totals 18,742 $ - $ - $ - $ 11,500 $ 30,242 $ 2023-2024 2023-2024 CRA/City CRA DDA Grand Professional Services DDA CRA Project Fund Carry Forward Carry Forward TOTAL 6241 Studies and Surveys - $ 69,582 $ 250,000 $ - $ - $ 319,582 $ 6510 Accounting 25,000 $ - $ - $ - $ 8,500 $ 33,500 $ 6520 Audit - $ 30,000 $ - $ - $ - $ 30,000 $ 6530 Legal 18,500 $ - $ - $ - $ 10,000 $ 28,500 $ 6540 Professional Services - $ 33,000 $ - $ 20,000 $ - $ 53,000 $ Totals 43,500 $ 132,582 $ 250,000 $ 20,000 $ 18,500 $ 464,582 $ 2023-2024 2023-2024 CRA/City CRA DDA Grand DDA CRA Project Fund Carry Forward Carry Forward TOTAL 7000 Personnel - $ 990,000 $ - $ 110,000 $ - $ 1,100,000 $ 7100 Insurance 51,209 $ - $ - $ - $ 51,209 $ 7200 Rent - $ 125,000 $ - $ 61,000 $ 22,500 $ 208,500 $ 7300 Tax Collection 20,000 $ - $ - $ - $ - $ 20,000 $ 7800 Travel & Training (Board & Staff) 8,000 $ - $ - $ - $ 10,000 $ 18,000 $ 7900 Reserves 55,546 $ - $ - $ 484,434 $ 250,166 $ 790,146 $ Totals 134,755 $ 1,115,000 $ - $ 655,434 $ 282,666 $ 2,187,855 $ Total Expenses 200,997 6,558,713 500,000 2,373,532 312,666 9,945,908 - - - - - -
11:53
