Community Redevelopment Agency

Community Redevelopment
Agency
Survey of
Community Redevelopment Agencies
Agencies Surveyed
Boca Raton
Delray Beach
Boynton Beach
West Palm Beach
2
Boca Raton
Area 344 acres
Boca Raton CRA
4.9 Million
Sq. Ft. of Development
1,578
Residential Units
0
750
1,500
3,000 Feet
¯
3
Delray Beach
Area 1,961 acres
Delray Beach CRA
13.0 Million
Sq. Ft. of Development
6,002
Residential Units
0
750
1,500
3,000 Feet
¯
4
Boynton Beach
Area 1,613 acres
Boynton Beach CRA
11.0 Million
Sq. Ft. of Development
7,502
Residential Units
0
500 1,000
2,000 Feet
¯
5
West Palm Beach
Northwood 344 acres
Downtown 916 acres
West Palm Beach CRA
Downtown
15.3 Million
Sq. Ft. of Development
6,985
Residential Units
0
500 1,000
2,000 Feet
¯
6
Percentages in Charts
Percentages (%) when used in bar charts are
the percentage difference between the Boca
Raton CRA and the CRA under consideration.
7
Comparisons of Size of Area
Acres
+352.9% +272.5% +111.5%
2,500
1,961
2,000
Acres
1,613
1,500
916
1,000
500
-
344
Boca Raton
Delray Boynton West Palm
Beach
Beach
Beach
8
Comparisons of Building Square Footage
Buildings
1,000,000 of Sq. Ft.
+165.3% +124.5% +212.2%
Millions of Square Feet1
20.0
15.3
15.0
13.0
11.0
10.0
5.0
4.9
0.0
Boca Raton
Delray Boynton West Palm
Beach
Beach
Beach
9
Comparisons of Residential Units
Residential Units
+280.4% +375.6% +342.6%
Units1
10,000
9,000
8,000
7,502
7,000
6,000
5,000
4,000
3,000
2,000
1,000
-
6,985
6,002
1,578
Boca Raton
Delray Boynton West Palm
Beach
Beach
Beach
10
11
Survey Questions
1. Local Developers & Recent Projects
2. CRA Building & Business Details
3. CRA Districts, Millage Rates & Assessed Value
4. Tax Increment Financing (TIF) Revenue
5. Other Sources of Revenue
6. Staff & Budget
7. Advertising & Special Events
8. Marketing Program
9. Merchant Association
10. Indirect Costs
12
Questions 2 a and b.
Maximum Height Limit of Buildings and
Number of Hotels
Boca Raton
Delray Beach
Boynton Beach
West Palm
100 feet
standard
48 feet
standard
150 feet
25 stories
(300+ feet)
140 feet under
IDG
68 feet
if approved
No Hotels
6 Hotels
No Hotels
2 Hotels
13
Question 3 b.
Taxable Value
FY 2010 Taxable Value
+41.1%
Billions of Dollars 1s
3.00
+37.9%
2.50
+131.6%
2.2
2.00
1.34
1.50
1.00
1.31
0.95
0.50
0.00
Boca Raton
Delray Beach Boynton Beach
West Palm
Beach
14
Question 3 d.
CRA District Millage Rate
FY 2010 Millage Rates
16.00
+39.6%
+34.4%
11.53
11.10
Millage 1s
14.00
12.00
10.00
8.00
+62.3%
13.41
DDA
8.26
BPD
PBC
6.00
City
4.00
2.00
0.00
Boca Raton
Delray Beach
Boynton
Beach
West Palm
Beach
15
Question 4 a.
Total TIF Revenue
Millions of Dollars1
FY 2010 Tax Increment Revenue
+74.7%
30.00
-0.9%
25.00
+276.5%
25.90
20.00
DDA
15.00
10.00
5.00
BPD
12.02
PBC
CITY
6.88
6.82
0.00
Boca
Raton
Delray
Beach
Boynton
Beach
West Palm
Beach
16
Question 5 a.
Other Sources of Revenue (leases, parking
meters, assessments, etc.)?
Boca Raton
Delray Beach
Boynton Beach
West Palm
$1,180,000
Mizner Park
Lease
$248,000*
Rental
Properties
$926,700*
Marina
Revenues
$1,002,141*
City Place
Lease
$3,000
Review Fees
$15,300
Green Market
* There may be other revenues generated in the Downtown from
parking lots, parking meters, etc. which are received. It just means
these are not Agency revenues.
17
Question 6 a.
CRA Total Budget for FY2010
Millions of Dollars1s
FY 2010 Total Budget
40
35
30
25
20
15
10
5
0
+114.9%
+8.5%
+200.0%
28.2
20.2
10.2
9.4
Boca Raton
Delray Beach
Boynton Beach
West Palm
Beach
18
Total Budget Comparisons
Boca Raton
$9,400,000
City
Repayment
$2,500,000 27%
Delray Beach
$20,151,458
Operations
$358,000 - 4%
Debt Service
$2,251,654 11%
Operations
$1,202,894 6%
Debt Service
$6,542,000 69%
Projects &
Programs
$16,696,910 83%
Boynton Beach
$10,152,056
Debt Service
$3,119,526 31%
Operations
$903,627 - 9%
Projects &
Programs
$6,128,903 60%
West Palm Beach
$28,285,650
Debt Service $10,951,598 39%
Operations $1,024,221 - 4%
Projects &
Programs $16,309,831 57%
19
Questions 6 c and e.
CRA Full-Time Equivalent Employees and Expenses
Boca Raton
Delray Beach
Boynton Beach
West Palm
1.65
Full-Time
10
Full-Time
9
Full-Time
9
Full-Time
$190,000
$946,930
$903,627
$936,490
20
Questions 7 a and b.
Does your CRA use advertising (excluding legal ads) ?
Boca Raton
For Events
Delray Beach
Through
Downtown
Marketing
Cooperative
(CRA,DDA,CC)
$230,000
Boynton Beach
West Palm
Approximately
$10,000
annually
No
21
Questions 7 c and d.
CRA Sponsor Special Events and Funding*
Boca Raton
Delray Beach
Boynton Beach
Concerts
approx.
$30,000
Through
Downtown
Marketing
Cooperative
(CRA,DDA,CC)
Holiday
Extravaganza
$160,000
Ocean Ave
Concerts
$7,500
Other
West Palm
Downtown
Waterfront
Grand Opening
$100,000
* Other events held in the area are funded by other jurisdictions
22
Questions 8 a and b.
Outside Marketing or Consulting Services and
Funding
Boca Raton
Boynton Beach
West Palm
Kaye
Ambit Marketing
Communications Content Creators
Branding,
Marketing, Public
Write stories
Website,
Relations, Web
about ongoing
Customized
site/Social Media
projects
Marketing
Evanswell/
Dynamic
Perceptions
$64,000
Delray Beach
$500 per month
$50,000
Creative/Graphic
Design
$25,000
23
Question 9 a.
Merchant Association
Boca Raton
Delray Beach
Boynton Beach
West Palm
None
None
None
None
24
Questions?
25