09-17-90 Joint Workshop
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CITY OF DELRAY BEACH, FLORIDA - CITY COMMISSION
JOINT WORKSHOP MEETING - SEPTEMBER 17, 1990 - 7:00 P.M.
CITY COMMISSION/COMMUNITY REDEVELOPMENT AGENCY
FIRST FLOOR CONFERENCE ROOM
AGENDA
Please be advised that if a person decides to appeal any decision made
by the City Commission with respect to any matter considered at this
meeting or hearing, such persons will need a record of these
proceedings, and for this purpose such persons may need to ensure that
a verbatim record of the proceedings is made,which record includes
the testimony and evidence upon which the appeal is to be based. The
City does not provide or prepare such record.
1. Philosophy and Background of Community Redevelopment Agency
(Mayor) .
2 . Community Redevelopment Agency's Goals For Fiscal Year 1990/91.
3. Community Redevelopment Agency's Role in the Marketing/Development
of Tennis Center and Fire Station Properties.
4. Community Redevelopment Agency's Role in Acquisition of Property
Located on Lake Ida Road Adjacent to S.D. Spady Elementary.
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DELRAY BEACH COMMUNITY REDEVELOPMENT AGENCY
PROPOSED BUDGET
10/01/90 to 9/30/91
Taxable Value $299,852,162 *Preliminary
Base Year ~~5,631,º~7
Tax Increment $54,221,095*
REVENUES - ALL FUNDS
Tax Incremental Funds:
Delray Beach City (6.4)* $329,664
Palm Beach County (4.6)* 236,946
Children's Council ( .22) 11,332
Health Care District (1.25) _64,3ªª
Tax Increment Total (95%) $642,330
End of Year Balances:
Operating Funds $51,656
Property Acquisition Escrow Acct. 40,000
TIF Escrow Acct. 65,000
Security Deposit Acct. 300
Leasehold Income 59,562
Interest Income 20,000
DDA Reimbursement 7,230
TOTAL REVENUES - ALL FUNDS $886,078**
*Preliminarv figures; subiect to change
** Note: The $100,000 Interest Escrow Account is not shown and is
deleted. To be discussed.
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DELRAY BEACH COMMUNITY REDEVELOPMENT AGENCY
PROPOSED BUDGET
10/1/90 to 9/30/91
EXPENDITURES
Debt Service to City $164,928
($138.00 Start Up Loan projected to
be paid out of this years surplus)
Professional & Personnel Services 159,230
Operations & Office Expense 15,200
Property Expenses 12,935
Total Operations & Debt Service $352.293
Restricted Escrow Accounts:
Proper tv Acquisition-Grocery Store $40.000
TIF Escrow Account 65,000
Security Escrow Account 300
$1,.95.300
TOTAL $457.593
TOTAL REVENUES $886,078
UNCOMMITTED FUNDS $428,485
If TIF Escrow pays debt service 65,000
Available for Projects & Continqency $493,485
NOTE: See attached list of Projects that the
Board mav select from.
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COMMUNITY REDEVELOPMENT AGENCY
1990 - 1991 WORK PROGRAM
NEXT YEAR'S PROJECTS FOR CONSIDERATION
Loan Subsidy Proqram
1. Interest Buy Down $100,000
(This replaces the $138,000 repayment
of start-up loan if paid in current year)
Peach Umbrella Redevelopment Project
1. Purchase Grocery Store, 422 W.· Atlantic $ 40,000
2. Purchase Chevron Gas Station 100.000
3. Infrastructure & Public Improvements 100,000
4. Acquire additional land South side 200,000
5. Redesiqn plans for South side 6.000
6. Implement plans South side
Pineapple Grove Redevelopment Project
1. Infrastructure & Public Improvements - $100,000
(Second Block NE 2nd Ave. - Model)
2. Acquisition of Block 76 East of OSS LOAN
(City contribution $500,000) Appraisals 12,000
West Atlantic Area
1. Build 2 - 3 model houses $100,000
2 . Finish acquisition of Norris Apts.
Shortfall over $545,000 ?
Tennis Center Redevelopment Block
1. Acquire 8 private parcels NW 3rd Ave.
2 . If another location selected for the new
tennis center, will City turn this project
over to CRA for us to handle?
Spady School
1. Participate with City in acquirinq $300,000
properties north of school to Lake
Ida Road.
(City contribution $500,000)
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