Resolution Budget FY 14-15

Transcription

1 Resolution Budget FY Exibit "A" NOTES Revenue from Activities 4000 TAX INCREMENT FINANCING (TIF) 4005 TIF - City of Delray Beach 7,728,109 Proposed millage rate TIF - County 5,140,426 Proposed millage rate Total 4000 TAX INCREMENT FINANCING (TIF) 12,868, CRA ADMINISTRATION SOURCES 4060 Land Sales 3,850,000 Sale of Old Library Site/Chamber & 203 NW 5th Ave 4216 Green Market Booth & Other 50, Property Revenue (Rents) 160, General Fund Carry forward 8,617, Other Income Reimbursement - City 95,000 Economic Development positions-shared expenses Reimbursement- Other 10,816 FMIT Reimbursement for prior year 4800 Loans Receivable Interest 20,000 Chamber, DBCLT & Fairfield Inn loans 4900 Interest Earned 15,000 Total 4050 CRA ADMINISTRATION SOURCES 12,818,070 Total Revenue from Activities 25,686,605 Expenditures for Activities 5001 AREAWIDE & NEIGHBORHOOD PLANS 5115 Land Acquisition 1,600,000 Acquire/improvement of blighted property Economic Develop (Hotel Loan) 1,000,000 Construction loan- Fairfield Inn Incentive 5120 Project Develop/ Implementation 25, Rev. JWH Thomas Jr. Park/Parking Lot 160,000 Public parking lot / pocket park SW 10/9th Ave Improvements (CIP) 200,000 Pedestrian linkages & on-street parking Block 8 Alley (CIP) 120,000 Construction of alleys 5130 NW 12th Ave- Atlantic to MLK (CIP) 543,000 Beautification of 2 block area, including alleys 5140 Legal Fees-W. Atlantic Redevelop 25,000 Total 5100 West Atlantic Redevelop 3,673, DOWNTOWN- DB-MASTER PLAN Old Library Site Redevelopment 25,000 Dumpsters for area business - will be eliminated with redevelopment Tree Grate Replacement (CIP) 15, SE 1st Street 2 way conversion (CIP) 300,000 Conversion to 2 way traffic between US1 and Swinton w/ traffic signal E Atlantic Ave Pedestrian Improvements (CIP) 30,000 Analysis and design 5225 Gateway Feature (Signage) 50,000 Design and installation of signage & markers 5230 Downtown Trolley 300,000 Continued operation of downtown trolley 5235 Parking Management Projects (CIP) 200,000 Funding to assist implementation of 2010 Parking Master Plan 5237 Fire Headquarters Public Plaza (CIP) 275,000 Construction for Plaza Project Develop / Implementation 20, Trombone Mast Arms (CIP) 250,000 E. Atlantic/east of Intercostal NE 3rd St/Ave Alley Improvements (CIP) 600,000 Construction drawings & improvements Swinton & Atlantic Intersection (CIP) 150,000 Design and construction Blk 117 Garage Design/SE 6 Ave (CIP) 750,000 Design and construction Pineapple Way N Entrance Feature (CIP) 145,000 Artistic entry feature 5276 MLK Jr. Drive Phase II (CIP) 100,000 Landscape nodes, sidewalks and art feature 5278 SE 4th Avenue Beautification (CIP) 100,000 Design and construction drawings 5295 Legal Fees -DB Master Plan 10,000 Total 5200 DOWNTOWN- DB-MASTER PLAN 3,320, SW Neighborhood Plan Village Square Elderly Loan 2,700,000 Construction loan- Village Square Elderly Apartments 5325 Project Develop/Implementation 5, Block 32 Alley (CIP) 100,000 Construction of alley - SW neighborhood 5340 SW 12th Avenue 200,000 Acquire/improvement of blighted property 5345 SW 14th Avenue 376,000 Acquire/improvement of blighted property Merritt Park (CIP) 150,000 Upgrades to park and install additional parking Block 63 Alley (CIP) 100,000 Page 1 of 4

2 Resolution Budget FY Exibit "A" NOTES 5395 Legal Fees-SW Neighborhood Plan 5,000 Total 5300 SW Neighborhood Plan 3,636, N. Federal Highway Area 5402 N. Federal Highway- Market Analysis 5413 Dixie Highway Improvements (CIP) 100,000 Evaluate and design of potential improvements Total 5400 N. Federal Highway Area 100, Osceola Park Neighborhood Plan 5510 Alleys (CIP) 175,000 Construction of 3 alleys Business Area Revitalization (CIP) 800,000 Construction of parking, streetscape, on-street parking and alley improve Legal Fee - Osceola Plan 3,000 Total 5500 Osceola Neighborhood Plan 978, OTHER Land Acquisition - Other 500,000 Acquire/improvement of blighted property 5640 Neighborhood Enhancement 2,500 Identification signs Sidewalks - Other (CIP) 300,000 Includes pedestrian improvements at rail road crossings 5660 NW/SW Neighborhood Alley (CIP) 100, Misc. Pre-Development Costs-Other 5, Legal Fees-Other 2,500 Total 5600 OTHER 910, Seacrest/ Del Ida Neighborhood Plan NE 2nd Ave/Seacrest Blvd. Beautif. (CIP) 425,000 streetscape improvements Total 5700 Seacrest/Del Ida Neighborhood Plan 425,000 Total 5001 AREAWIDE & NEIGHBORHOOD PLANS 13,042, REDEVELOPMENT PROJECTS 6200 NW/SW-5th Ave Beautification NW 5th Avenue Entrance Feature (CIP) 75,000 Design and construction of entry feature at Lake Ida Rd and NW 5th Ave 6206 NW 5th Avenue 300,000 Acquire/improvement of blighted property Muse/ Harvel Project 5, Block 20 Alley Improvements (CIP) 40,000 Construction of an alley within Block Project Development 5, Legal Fee-NW/SW 5th Ave-Beautification 3,000 Total 6200 NW/SW-5th Ave Beautification 428, Redevelopment Sites 6303 Maintenance 135,000 Properties under CRA ownership Business Relocation 30,000 Related to property acquisition Project Develop/Implementation 2, Property Insurance 100, Property Taxes 50, Utilities 20, Block 60 Parking Lots 8,000 Block 60 condo fees - parking lot behind CRA office West Settlers Condo Association 14,000 West Settlers condo fees Legal Fees 5,000 Total 6300 Redevelopment Sites 364, Affordable/Workforce Housing Program Resident Relocations 15, Subsidies 150,000 Subsidies to assist buyers of affordable housing 6513 Land Acquisitions- Affordable Housing 300, A-Guide Funding - DBCLT 175,000 A-GUIDE funding to support Delray Beach CLT Eagles Nest 100,000 Atlantic High School construction of home 6555 Housing Study 50,000 Collaborate with City to determine needs for area 6595 Legal Fees-Afford Housing 7,000 Total 6500 Affordable/Workforce Housing 797, Carver Square Neighborhood Remediation & Site Development 40,000 Housing design/rfp SW 2nd Terrace Reconstruction (CIP) 65,000 Street reconstruction 6650 Legal Fees-Carver Square 6,000 Page 2 of 4

3 Resolution Budget FY Exibit "A" NOTES Total 6600 Carver Square Neighborhood 111,000 Total 6000 REDEVELOPMENT PROJECTS 1,700, COMMUNITY IMP & ECONOMIC DEVELOP 7300 Grant Programs 7306 Site Assistance Grant 200, Business Assistance Startup 40, Paint-Up Assistance Grants 35, Community Activities 3, Historic Façade Grants 75,000 Total 7300 Grant Programs 353, Downtown Marketing & Promo 7321 DBMC 362,980 Support downtown marketing and events Total 7320 Downtown Marketing & Promo 362, City Contractual Services 7331 Planning, IT, and Parking Manager 110,000 Interlocal Agreement (ILA) 7333 Housing Rehab 37,700 ILA 7335 Clean & Safe 1,824,280 ILA 7336 Streetscape Maintenance 36,000 ILA 7337 Project Engineer 97,514 ILA 7338 Neighborhood Planner/Resource Ctr 39,110 ILA Total 7330 City Contractual Services 2,144, Community Resource Enhancement 7375 Community Resource Enhancement 45,000 WARC staffing assistance 7376 A-GUIDE Funding 927,640 A-GUIDE funding 7375 Community Resource Enhancement 972, Green Market 7381 Personnel & Staff-Green Market 80,000 Green Market Manager & seasonal part time help 7382 Entertainment/Vendors 6, Supplies & Materials 2, Administration & Operations 20,000 Park rental, purchase of golf cart & equipment rentals 7385 Signs/Banners/Ads-Green Market 7,700 Total 7380 Green Market 116, ECONOMIC DEVELOPMENT INITIATIVES Economic Development Incentives 230,000 Incentives and programs to attract new businesses Micro-Lending Programming 100,000 Revolving loans/funds to assist small business Economic Development Marketing 70,992 Promotion of programs, sites, plans, etc OSS Garage Retail Space Rent 50,000 Lease payment to City Warehouse / Arts Incubator 750,000 Construction drawings and beginning elements of the construction project Tennis Tournament Sponsorship 550,000 Co-title sponsor along with City 7490 Legal Fees 10,000 Total 7400 Economic Development Initiative 1,760,992 Total 7000 COMMUNITY IMP & ECONOMIC DEV 5,710, ADMINISTRATION 8010 PERSONNEL ITEMS 8011 Salaries & Wages 820, % increase 8013 Payroll Taxes 68,000 Medicare, Social Security, unemployment and workers comp 8014 Travel Allowance 5, Ins-Health/Dental/Life 82,000 Health, dental, life and long term disability 8016 Cell Allowance 5, Retirement Contributions 70, retirement plan Total 8010 PERSONNEL ITEMS 1,050, SUPPLIES & MATERIALS 8105 Office Supplies 5, Postage/Express 2,500 Total 8100 SUPPLIES & MATERIALS 8, EQUIPMENT/PROP/MAINTENANCE 8210 Computer Equipment & Supplies - Page 3 of 4

4 Resolution Budget FY Exibit "A" NOTES 8211 Equipment Rentals 4,700 Copier, postage meter 8213 Repairs/Maintenance 1, Furniture & Fixtures 1, Office Equipment (Assets) 10,000 Total 8200 EQUIPMENT/PROP/MAINTENANCE 16, OFFICE SPACE 8305 Storage 2,500 Warehouse for records storage 8307 Maintenance 30, Telephones 8, Utilities 5, Security 2,000 Total 8300 OFFICE SPACE 48, ADMINISTRATION/OPERATIONS 8401 Accounting 23, Legal - Administration 50, Capital Outlay 200,000 Office expansion 8409 Contractual Services 70,000 Annual Report, social media, web site upgrade and other 8411 Printing 4, Publications/Subscriptions 1, Advertising 7, Bank Services 2, Organization/Member Dues 7,500 AICP, IEDC, ULI, FGFOA, FRA, Chairman's Club etc Public Relations/Communications 7, Insurance (D&O,Veh,Workers Comp, Bldg.) 17, Meetings 2, Seminars & Workshops 9,000 FRA, IEDC, FAPA, FAU-IOG, ULI etc Travel 9,000 FRA Board Mtgs (Ex Dir.), IEDC, FRA Conf. etc. Total 8400 ADMINISTRATION/OPERATIONS 409,800 Total 8000 ADMINISTRATION 1,533, DEBT SERVICE City - Former Chamber Parking Site 1,800,000 Payment for property acquisition City - US1 Corridor Improvements 420,149 Payment toward City financing City National Line of Credit 60,000 Original limit - $4 million 8610 Debt Bond Interest-Taxable Int 190,000 BOA - Bond Issue 8620 Debt Bond Interest-Tax Exempt Int 1,230,000 BOA - Bond Issue Total 8600 DEBT SERVICE 3,700,149 Total Expenditures for Activities 25,686,605 Revenue Over/(Under) Expenditures - Page 4 of 4

5 FY CRA Work Plan

6 Areawide and Neighborhood Plans West Atlantic Avenue Redevelopment Land Acquisition [G/L-5115] $1,600,000 Acquire parcels necessary to assemble sites for Redevelopment projects, including parking Fairfield Inn Hotel [G/L-5116] $1,000,000 Loan to facilitate construction of moderately priced hotel between SW 9 th and SW 10 th Avenues.

7 Areawide and Neighborhood Plans West Atlantic Avenue Redevelopment Reverend J.W.H. Thomas, Jr. Park (Construction) [G/L-5121] $160,000 Second phase of project consists of the construction of a pocket park at the northwest corner of SW 9 th Ave & SW 1 st St., adjacent to parking lot recently installed by CRA. SW 9 th /10 th Ave. Improvements [G/L-5122] $200,000 Pedestrian linkages between hotel site and public parking lot/pocket park at south end of block.

8 Areawide and Neighborhood Plans West Atlantic Avenue Redevelopment Block 8 Alley [G/L-5123] $120,000 Construction of alley between SW 10 th and 11 th Avenues that is currently unimproved but being used for access, loading and trash service. NW 12th Ave Beautification (Construction) [G/L-5130] $543,000 Construction of landscaping & sidewalks for two block area between W. Atlantic Ave. and MLK Dr. Also includes construction of alleys and on-street parking, within one block area (between W. Atlantic Ave. and NW 1 st St.)

9 Areawide and Neighborhood Plans Downtown Master Plan Fourth & Fifth (Old Library Site) [GL-5205] $25,000 The existing dumpsters on the site are used by businesses fronting East Atlantic Avenue, but will be eliminated with the redevelopment. The CRA will work with the businesses to arrange for new waste receptacles for those businesses, on their properties. SE 1 st Street Conversion [GL-5210] $300,000 Conversion to 2-way traffic between US 1 and South Swinton Avenue, in conjunction with US 1 Corridor project. Includes the installation of mast arm traffic signal at the intersection of S. Swinton Ave. & SE/SW 1 st Street. E. Atlantic Ave. Pedestrian Improvements [GL-5215] $30,000 East of ICWW Project feasibility analysis and conceptual design for improving pedestrian safety on E. Atlantic Avenue east of Gleason Street.

10 Areawide and Neighborhood Plans Downtown Master Plan Gateway Feature Signage [GL-5225] $50,000 Identification and descriptive signage associated with Gateway Feature at I-95 and West Atlantic Avenue. Downtown Roundabout (Trolleys) [GL-5230] $300,000 Continuation of service from Tri-Rail to the beach. Parking Management Plan [GL-5235] $200,000 Funding to assist with implementation of recommendations included in 2010 Parking Master Plan. Fire Headquarters Public Plaza [GL-5237] $275,000 Construction drawings and bid documents have been completed. Funding for this FY will be for construction.

11 Areawide and Neighborhood Plans Downtown Master Plan E. Atlantic Ave Trombone Mast Arms[GL-5246] $250,000 Replacement of the East Atlantic Avenue trombone style mast arms at Venetian Drive and Gleason Street intersections. NE 3 rd St/Avenue/Alley Improvements [GL-5251] $600,000 Streetscape improvements to improve appearance and pedestrian connections between parking lots and businesses. Includes relocation of existing parking, as necessary. Funding will include construction drawings and installation of improvements.

12 Areawide and Neighborhood Plans Downtown Master Plan Swinton & Atlantic Intersection (Design)[GL-5253] $150,000 Design and construction drawings to make the intersection more pedestrian and vehicle friendly and improve connectivity between West and East Atlantic Avenues. Block 117 Parking Structure [GL-5255] $750,000 Design (including construction drawings) of public parking garage to replace surface parking lot (Gladiola Lot) on east side of SE 6 th Avenue, south of East Atlantic Avenue. Pineapple Grove Way-North Entry Feature [GL-5258] $145,000 Completion of artistic element to serve as an entry feature to the Pineapple Grove Arts District from the north end of Pineapple Grove Way.

13 Areawide and Neighborhood Plans Downtown Master Plan Martin Luther King, Jr. Drive (Phase II) [GL-5276] $100,000 I-95 sound wall to NW 12th Avenue Beautification of the corridor between NE 1st Avenue and NW 12th Avenue completed in 2011 (Phase I), included landscape nodes, irrigation, paver brick crosswalks at major intersections, lighting, two pocket parks. The project also involves features commemorating Dr. Martin Luther King, Jr. Phase II includes landscape nodes, sidewalks, and an art feature at the I-95 sound barrier wall. SE 4 th Avenue Beautification (Design) [GL-5278] $100,000 The proposed improvements to SE 4 th Avenue will complement the streetscape improvements proposed with the proposed ipic theater and Uptown Delray projects. Funding this FY is for design and construction drawings with construction to occur in FY 15/16.

14 Areawide and Neighborhood Plans Southwest Neighborhood Plan Village Square Elderly [GL-5306] $2,700,000 Loan associated with redevelopment of Carver Estates site 84 units of senior housing. Block 32 Alley [GL-5330] $100,000 Improve alleyway between SW 3 rd & SW 4 th Streets, between SW 4 th & SW 5 th Avenues to provide paved access to homes. SW 12 th Avenue [GL-5340] $200,000 Property acquisitions and additional improvements to private and CRA owned properties is on-going.

15 Areawide and Neighborhood Plans Southwest Neighborhood Plan SW 14 th Avenue Beautification [GL-5345] $376,000 Funds allocated primarily for acquisition of blighted properties and to continue with Improvements to this area. Merritt Park [GL-5355] $150,000 Improvements include sod replacement and upgraded irrigation, improvements to restrooms and additional parking. North Federal Highway Redevelopment Dixie Hwy Improvements [GL-5413] $100,000 Funding this FY is to evaluate and begin design of potential improvements to Dixie Highway corridor, including measures for safer pedestrian and bicycle usage.

16 Areawide and Neighborhood Plans Osceola Park Neighborhood Plan Osceola Park Alleys [GL-5510] $175,000 Construction of 3 alleys within residential portion of Osceola Park Neighborhood, per adopted Neighborhood Plan. Osceola Business Area Revitalization [GL-5520] $800,000 Combination of streetscape improvements with on-street parking along SE 2nd Avenue, parking lot construction, and Alley improvements.

17 Block 20 Alley [GL-6213 ] $40,000 Construction of alley west of NW 5 th Ave, south of NW 1 st St Redevelopment Projects Seacrest/Del-Ida Neighborhood Plan NE 2 nd Ave/Seacrest Blvd. Beautification [GL-5710] $425,000 In 2011, CRA and City staff worked to obtain MPO grant ($616,262) for construction of improvements. Design work completed. Construction to occur in FY 14/15. NW/SW 5 th Avenue Area NW 5 th Avenue Entrance Feature [GL-6203] $75,000 Lake Ida Road & NW 5 th Avenue At the intersection of Lake Ida Road and NW 5 th Avenue is leftover right-of-way that is not maintained. Funding this FY is for design and construction of an entrance feature. NW 5 th Avenue Beautification [GL-6206] $300,000 Between MLK Lr. Dr. & Lake Ida Road Funds allocated primarily for acquisition of properties and to continue with improvements to this area.

18 Affordable/Workforce Housing Housing Study [GL-6555] $50,000 Most recent affordable housing needs assessment for the City was conducted in The CRA will collaborate with the City to fund and complete a Housing Study. The findings would be used to help determine demand, areas of focus, and development options, as well as the roles of the various public, private, and nonprofit organizations that create housing throughout the city. Carver Square Neighborhood [GL-6620] $40,000 Additional tests were conducted in FY 13/14. Depending upon the results of additional tests, the lots may be ready for development in the coming year. Funding in 14/15 is for housing design/rfp. SW 2 nd Terrace (Carver Square) [GL-6630] $65,000 Reconstruct street that was removed during remediation process.

19 Economic Development Projects Arts Warehouse [GL-7440] $750,000 Funding in FY 14/15 is provided for the preparation of construction drawings and the beginning elements of the construction project.

20 Other Federal Hwy Beautification(Construction)[GL-8606] $420,149 Construction of 36-block project is underway. Funding for this fiscal year represents the required annual payment pursuant to the ILA for this project. Total CRA contribution to project: $3,614, Sidewalks [GL-5650] $300,000 Funding to assist with completion of sidewalk network and pedestrian connections within the CRA district for greater pedestrian safety. May include pedestrian improvements at the FEC Railroad crossings. NW/SW Neighborhood Alleys [GL-5660] $100,000 Construction of an unimproved alley to be determined within the Northwest or Southwest Neighborhood. Funding this FY will cover design and construction costs.

21 Operating Budget Presentation for FY October 1, 2014-September 30, 2015

22 County County City City Variance FY Taxable Value Millage TIF Millage TIF Year Total Prior Yr. 2013/14 $1,266,709, $4,629, $6,946,429 $11,575,821 7% 2012/13 $1,268,479, $4,273, $6,455,940 $10,729,675 1% 2011/12 $1,179,149, $4,228, $6,376,396 $10,604,415 0% 2010/11 $1,187,514, $4,227, $6,418,010 $10,645,402 (10%) 2009/10 $1,329,775, $4,474, $7,405,249 $11,879,297 (9%) 5 YEAR TOTALS: $21,832,585 $33,602,024 $55,434,609 Projected: 2014/15 $1,377,279, $5,140, $7,728,109 $12,868,535 10%

23 Millions 16,000,000 14,000,000 Delray Beach CRA TIF Revenue History County TIF City TIF Total TIF 12,000,000 10,000,000 8,000,000 6,000,000 4,000,000 2,000, Year

24 Carry Forward Funds 8,617,254 33% All Other Sources 190,816 1% Land Sales & Property Revenue 4,010,000 16% County TIF 5,140,426 20% - City TIF 7,728,109 30%

25 Budget expenses arranged according to 5 Main Areas of Concentration: 14,000,000 12,000,000 10,000,000 8,000,000 6,000,000 4,000,000 2,000,000-13,042,222 Area Wide Plans - Projects 5,710,316 3,700,149 1,700,500 1,533, % 6.6% 22.2% 6.0% 14.4% Redevelopment Projects Community Improvement & Economic Development Administration Debt Service

26 FY Budget CRA Funds Allocated For Infrastructure Projects (included in City s CIP) CRA GL# Project Name CRA Funding 5122 SW 10 th /9 th Ave Improvements $200, Block 8 Alley $120, NW 12 th Ave Atlantic to MLK $543, Tree Grate Replacement $15, SE 1 st Street Conversion to 2-way Traffic $300, E Atlantic Ave Pedestrian Improvements $30, Parking Management Projects $200, Fire Headquarters Public Plaza $275, E Atlantic Avenue Trombone Mast Arm Traffic Signals $250, NE 3 rd St/Ave Alley Improvements $600, Swinton & Atlantic Intersection $150, Blk 117 Garage Design/SE 6 th Ave $750, Pineapple Grove Way North Entrance Feature $145, MLK Jr Drive Phase II $100, SE 4 th Ave Beautification $100, Block 32 Alley $100, Merritt Park $150, Block 63 Alley $100, Dixie Highway Improvements $100,000

27 CRA GL# Project Name CRA Funding 5510 Osceola Park Neighborhood Plan Alleys $175, Osceola Park Business Area Revitalization $800, Sidewalks $300, NW/SW Neighborhood Alley $100, NE 2 nd Ave/Seacrest Blvd Beautification $425, NW 5 th Ave Entrance Feature $75, Block 19 & 20 Alley Improvements $40, SW 2 nd Terrace Reconstruction $65,000 TOTAL (both slides) $6,208,222 CIP Capital Improvement Program

28 Increase Budget $1,294,795 $1,426,384 (10% increase) *$1,824,280 $397,900 (28% increase) * Includes 2 additional Police Officers & 1 Community Service Officer

29 FY Budget CRA Funds Allocated For City Services/Programs in CRA District Clean & Safe Program (Police, landscape maintenance, code enforcement) 1,824,280 Community Improvement (Housing Rehab, Neighborhood Planner) 76,810 Downtown Trolley 300,000 Environmental Services (Project Engineer) 97,514 Tennis Tournament Sponsorship 550,000 Streetscape Maintenance (ongoing landscaping, irrigation for new beautification projects) 36,000 Planning, Parking Management, IT Services 110,000 Total City Services/Programs $2,994,604

30 City Services/Programs $2,994,604 Capital Improvements $6,208,222 TOTAL $9,202,826

31 FY Budget 11% of CRA s Projected TIF Revenue allocated to: Delray Beach Non-Profit Organizations DBCLT $175,000 DB Public Library $308,000 EPOCH (Spady Museum) $59,640 Delray Beach Center for the Arts $285,000 DBMC $362,980 Creative City Collaborative $275,000 TOTAL $1,465,620

32 Revenue from City: City TIF Revenue paid to the CRA $7,728,109 Expenditures Allocated to City Projects, Services & Non Profit Programs: Paid to the City of Delray Beach $9, Paid to City/CRA Non Profit Partners $1,465,620 TOTAL $10,668,446 Difference in Excess of City TIF: $2,940,337

33 Projected Personnel 954, ,050,520 Supplies & Materials 9,000 8,398 Equip, Property, & Maintenance 18,800 16,700 Office Space 43,000 48,000 Administrative Operations 179, ,800 Total Expenses: 1. 1,205,399 1,533, Proposed, amount to be amended at year-end. 2. Includes new part-time Administrative position & part-time Project Management position and 2.5% salary increase as proposed in City s budget. 3. Includes CRA Office Expansion of $200,000

34 Tax Exempt Bonds 1,565,000 1,230,000 Taxable Bonds 185, ,000 City Payment for Former Chamber/Parking Site 226,215 Draft Amendment #2 1,800,000 City Payment for US1 Corridor Improvements 9, ,149 City National Line of Credit 47,060 Draft Amendment #2 60,000 Total Debt Service for FY14/15: 2,032,275 3,700,149

35 Debt Total City of Delray Beach Former Chamber/Parking Site (if property not sold, paid 3% interest) 2,004,655 City US1 Corridor Improvements ,991,419 City National LOC (2.1% Interest ) 2,619,225 Revenue Bonds ,090,000 Total 14,705,229