CRA FY 2014/2015 Proposed Budget and Work Plan Presentation. City Commission Workshop September 9, 2014

Similar documents
Resolution Budget FY 14-15

CRA District Tax Increment Financing Analysis. Board Presentation of Draft Report March 24, 2016

Second Amendment to the Urban Renewal Plan for the Ingersoll-Grand Commercial Urban Renewal Area

Traverse City Downtown Development Authority TAX INCREMENT FINANCING & DEVELOPMENT PLAN #97

City of Wichita. Union Station Redevelopment District. Union Station Project Plan. November 20, 2014

FY19 CAPITAL IMPROVEMENT PLAN NON-CONCURRENCY PROJECTS

Revenues and expenditures increase based on the tax district increase due to increases in real estate assessments in CY 2016 compared to CY 2015.

CRYSTAL CITY, POTOMAC YARD, AND PENTAGON CITY TAX INCREMENT FINANCING AREA

ECONOMIC DEVELOPMENT FULLY FUNDED PROJECTS Capital Improvement Program FY FY 2016

Project Plan for TAX INCREMENTAL FINANCE DISTRICT #41 (UNIVERSITY-WHITNEY) City of Madison

Project Plan for TAX INCREMENTAL FINANCE DISTRICT #45 (CAPITOL SQUARE WEST) City of Madison

Project Plan for TAX INCREMENTAL FINANCE DISTRICT #41 (UNIVERSITY-WHITNEY) City of Madison

TIF in Des Moines, IA. March 2010 City Manager s Office City of Des Moines

SUBSTITUTE Second Amendment to Tax Incremental District (TID) No. 32 Project Plan (Upper State St)

Olde Town Station Urban Renewal Plan

Cliff View Project Fort Worth Avenue TIF District. Economic Development Committee April 4, 2016

ENGINEERING DEPARTMENT

Fourth Amendment to the Southside Economic Development District Urban Renewal Plan

City of Coral Springs COMMUNITY REDEVELOPMENT AGENCY ANNUAL REPORT. Period Ending March 31, 2003

Windshield Inventory of Substandard Buildings within Proposed CRA Village of Palm Springs CONGRESS AVENUE SUB-AREA

City of Sandy. Sandy Urban Renewal Plan

REQUEST FOR TAX INCREMENT FINANCING

CITY OF WAUSAU TAX INCREMENT DISTRICT SIX PROJECT PLAN AMENDMENT #2

Redevelopment Project Financial Feasibility Study. For the Oread Project Within the 12 th and Oread Redevelopment District. City of Lawrence, Kansas

Incentives for Hartford Building Renovation City Center TIF District. Economic Development Committee March 6, 2014

THE ECONOMIC DEVELOPMENT GROWTH ENGINE INDUSTRIAL DEVELOPMENT BOARD OF THE CITY OF MEMPHIS AND COUNTY OF SHELBY, TENNESSEE

Derby North Gateway Tax Increment Financing District Redevelopment Project Plan. July 25, 2013

FOR LEASE 801 N. FEDERAL HWY FORT LAUDERDALE, FL RETAIL/OFFICE FLAGLER VILLAGE FREESTANDING BUILDING

Winters Parking Committee Downtown Parking Report Recommendations

Syracuse General Redevelopment Plan Study Areas #1-3

Priority Redevelopment Sites

City of Wichita. Southfork Redevelopment District. Southfork Phase A Project Plan. March 5, 2013

Hallandale Beach Community Redevelopment Agency. Work Program to Implement Regional Activity Center (RAC)

MEMORANDUM. MRA Board of Commissioners. Southgate Mall Revised Request for TIF Assistance

TAX INCREMENT FINANCING Ten (10) Year Status Report

City of Middleton Comprehensive Plan 2018

Agenda. Background. Economic Enhancement Study Master Plan Concept. Implementation Plan

Amended Project Plan and Boundary for TAX INCREMENTAL FINANCE DISTRICT #46 (RESEARCH PARK) City of Madison

City of Port St. Lucie Community Redevelopment Agency Annual Report FY I2

Urban Renewal: An Overview. Elaine Howard Consulting, LLC

NINTH & NEW HAMPSHIRE REDEVELOPMENT DISTRICT SOUTH PROJECT AREA REDEVELOPMENT PROJECT PLAN AUGUST 13, 2012

TO BE PUBLISHED: Saturday, March 23, 2019

If you have any questions about the request for proposal, please contact me by at

Town of Brunswick. Tax Increment Financing Districts and TIF Budget

Downtown Master Plan Implementation

TAX INCREMENTAL DISTRICT COMBINED ANNUAL REPORTS

Modified FY ,100, ,329,791

STAFF REPORT. Kevin Rohani, P.E. Public Works Director/City Engineer. FY 2017/18 First Quarter Report on the Capital Improvement Program

TAX INCREMENTAL FINANCE DISTRICT #23. City of Madison CAPITOL SQUARE REVITALIZATION. SUBSTITUTE Amended Project Plan

Project Plan for TAX INCREMENTAL FINANCE DISTRICT #46 (RESEARCH PARK) City of Madison

CITY OF CASSELBERRY. COMMUNITY REDEVELOPMENT AGENCY 95 Triplet Lake Drive Casselberry, Florida CRA JUSTIFICATION REPORT

TAX INCREMENT FINANCING ANNUAL REPORT FILED WITH THE EXECUTIVE DIRECTOR OF THE WEST VIRGINIA DEVELOPMENT OFFICE AND PUBLISHED AT

The Mayflower Building (411 N. Akard Street) Downtown Connection TIF District. Economic Development Committee February 17, 2015

VILLAGE COMMONS URBAN RENEWAL AREA URBAN RENEWAL PLAN PREPARED FOR: ARVADA URBAN RENEWAL AUTHORITY

MEMORANDUM. Honorable President and Members of the City Council Attention: Karen Randle, Executive Secretary

ENGINEERING DEPARTMENT

2016 MAJOR GENERAL PLAN AMENDMENT

City of Wichita. Union Station Redevelopment District. Project Area 1 Plan. February 5, 2015

VIRGINIA TIF PROGRAM. 2. Property assembly costs, including acquisition, demolition, site preparation and improvement, etc;

CITY OF PORT ST. LUCIE COMMUNITY REDEVELOPMENT AGENCY. FY 2011 ANNUAL REPORT (October 1, 2010 to September 30, 2011)

TULSA DEVELOPMENT AUTHORITY STAFF REPORT. April 5, Regular Meeting - 9:00 am CHAIRMAN & BOARD MEMBERS Mike Thedford

The Community Redevelopment Agency of the City of Los Angeles

City of Hudsonville. Downtown Development Authority Development and Tax Increment Financing Plan

Tenth Community Meeting

Overview of TIF Programs

Tax Increment Financing Annual Report

Community Improvement Districts CIDs. CID concepts

Tax Increment Financing Practice and Policy Seminar Tuesday, July 24, 2007 Marquette University

South Santa Fe Drive Corridor Redevelopment Plan (An Urban Renewal Plan)

EVANSVILLE ARTS REDEVELOPMENT AREA. DEPARTMENT OF METROPOLITAN DEVELOPMENT Evansville Redevelopment Commission

Real Estate Development Reuse Discussion for the USF-CEDR Basic Economic Development Course. City of St. Petersburg Economic Development Department

Capital Improvement Plan (CIP) Adopted Oct. 17, 2016

Exhibit A. Prepared by: Andrea Hauer, Economic Development City of Des Moines Thirteenth Amendment. to the Urban Renewal Plan

IX. STRATEGIC PLAN ELEMENT

4 May 14, 2014 Public Hearing

Third Amendment to Tax Incremental District (TID) No. 32 Project Plan (Upper State St)

FAQ Sheet. Proposed Southside St. Petersburg Community Redevelopment Area

DOWNTOWN LAWRENCE, KS

Downtown Redevelopment in Ohio Three Perspectives MODERATOR HARRY EADON 10/19/2017 1

VILLAGE OF VILLA PARK 20 South Ardmore Avenue, Villa Park, Illinois 60181

Davis Garden TIF District: Overview and Taylor Farms, I-30 Frontage Road, and Kessler Theater Projects

Tax Increment Finance: An Emerging Community Revitalization Tool

Infrastructure Financing Programs (DIF)

Economic Development Financing Tools Presented February 23, 2012 by Joe Lauber

10. GENERAL PROJECT DESCRIPTION SPECIFIC PROJECT DESCRIPTION

Community Meeting Meeting #3 WELCOME. October 23, 2013

Patrick Prescott, Community Development Director By: David L. Kriske, Assistant Community Development Director

Colorado at Lake. Entitlement Hearing October 20, 2010

COMMITTED TO CLIENT SUCCESS SINCE Tax Increment Financing A Guide to Funding Development-Related Improvements

COMMUNITY REDEVELOPMENT PLAN

GLOSSARY OF TERMS FOR ECONOMIC DEVELOPMENT STUDY

Request Conditional Use Permit (Bulk Storage Yard) Staff Recommendation Approval. Staff Planner Jimmy McNamara

Tax Increment Financing: Smallman Street, Strip District Final Request for Approval / TIF Adoption

MARKET LOFTS TIF PROPOSAL

West Palm Beach Community Redevelopment Agency AGENDA. July 17, :00 P.M.

FINANCE PLAN December 2010

Northeast Gateway 2 Urban Renewal Plan. City of Des Moines, Iowa

ANNUAL DEVELOPMENT ACTIVITY AND DISCLOSURE REPORT $4,115,000 CITY OF WHEELING, WEST VIRGINIA STONE BUILDING RENOVATION PROJECT SERIES 2005 A BONDS

Tax Increment Financing ( TIF ) Overview

2017 CEDA APPLICATION

Transcription:

CRA FY 2014/2015 Proposed Budget and Work Plan Presentation City Commission Workshop September 9, 2014

Muse House & Harvel House Renovations NW 5 th Avenue

Atlantic Avenue Tree Grate Improvements After Before After

NE 1 st Avenue Beautification NE 1 st St to NE 2 nd St Before After Under Construction Under Construction

SW 2 nd Street Beautification SW 15 th Ave to Swinton Ave Before After After After

Reverend J.W.H Thomas, Jr. Park/Parking Lot NW Corner of SW 9 th Ave & SW 1 st St Phase I Parking Lot & Roundabout under construction. Phase II Pocket Park: RFB issued, 2 bids received. Construction to begin October 2014.

Fairfield Inn Hotel SW Corner of W Atlantic Ave & SW 9 th Ave Hotel under construction completion expected December 2014, opening January 2015. Job fair held for local contractors February 22 nd ; Job fair for hotel employees scheduled for September 12 th & 13 th

RFP for West Atlantic Properties Redevelopment Site (south side of W. Atlantic Ave, between SW 6 th 9 th Aves) CRA selected Equity Enterprises USA 49,000+ sq.ft. retail; 47,000+ sq. ft. office; & up to 123 apartments; Community Benefits Agreement executed between developer and community representatives addresses local hiring initiatives and tenancy of commercial space.

FY 2014-2015 Proposed CRA Work Plan

Proposed 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.

Proposed 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.

Proposed 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.)

Proposed 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.

Proposed 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.

Proposed 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.

Proposed 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.

Proposed 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.

Proposed 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.

Proposed 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.

Proposed 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.

Block 20 Alley [GL-6213 ] $40,000 Construction of alley west of NW 5 th Ave, south of NW 1 st St Proposed 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.

Proposed Affordable/Workforce Housing Housing Study [GL-6555] $50,000 Most recent affordable housing needs assessment for the City was conducted in 2008. 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.

Proposed 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.

Proposed 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: $3,614,188.07. 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.

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

County County City City Variance FY Taxable Value Millage TIF Millage TIF Year Total Prior Yr. 2013/14 $1,266,709,539 4.7815 $4,629,392 7.1900 $6,946,429 $11,575,821 7% 2012/13 $1,268,479,798 4.7815 $4,273,735 7.1900 $6,455,940 $10,729,675 1% 2011/12 $1,179,149,327 4.7815 $4,228,018 7.1900 $6,376,396 $10,604,415 0% 2010/11 $1,187,514,519 4.7500 $4,227,392 7.1900 $6,418,010 $10,645,402 (10%) 2009/10 $1,329,775,621 4.3400 $4,474,048 7.3800 $7,405,249 $11,879,297 (9%) 5 YEAR TOTALS: $21,832,585 $33,602,024 $55,434,609 Projected: 2014/15 $1,377,279,000 4.7815 $5,140,426 7.1611 $7,728,109 $12,868,535 10%

Millions 16,000,000 14,000,000 Delray Beach CRA TIF Revenue 1987-2014 History County TIF City TIF Total TIF 12,000,000 10,000,000 8,000,000 6,000,000 4,000,000 2,000,000-1987 1990 1991 1993 1996 1997 1999 2001 2003 2005 2007 2009 2011 2013 2015 Year

Carry Forward Funds 8,494,728 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%

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 5,587,790 3,700,149 1,700,500 1,533,418 51.0% 6.7% 21.9% 6.0% 14.5% Redevelopment Projects Community Improvement & Economic Development Administration Debt Service

Proposed FY 2014-2015 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 $200,000 5123 Block 8 Alley $120,000 5130 NW 12 th Ave Atlantic to MLK $543,000 5208 Tree Grate Replacement $15,222 5210 SE 1 st Street Conversion to 2-way Traffic $300,000 5215 E Atlantic Ave Pedestrian Improvements $30,000 5235 Parking Management Projects $200,000 5237 Fire Headquarters Public Plaza $275,000 5246 E Atlantic Avenue Trombone Mast Arm Traffic Signals $250,000 5251 NE 3 rd St/Ave Alley Improvements $600,000 5253 Swinton & Atlantic Intersection $150,000 5255 Blk 117 Garage Design/SE 6 th Ave $750,000 5258 Pineapple Grove Way North Entrance Feature $145,000 5276 MLK Jr Drive Phase II $100,000 5278 SE 4 th Ave Beautification $100,000 5330 Block 32 Alley $100,000 5355 Merritt Park $150,000 5360 Block 63 Alley $100,000 5413 Dixie Highway Improvements $100,000

CRA GL# Project Name CRA Funding 5510 Osceola Park Neighborhood Plan Alleys $175,000 5520 Osceola Park Business Area Revitalization $800,000 5650 Sidewalks $300,000 5660 NW/SW Neighborhood Alley $100,000 5710 NE 2 nd Ave/Seacrest Blvd Beautification $425,000 6203 NW 5 th Ave Entrance Feature $75,000 6213 Block 19 & 20 Alley Improvements $40,000 6630 SW 2 nd Terrace Reconstruction $65,000 TOTAL (both slides) $6,208,222 CIP Capital Improvement Program

2012-13 2013-14 2014-15 Increase Budget $1,294,795 $1,426,384 (10% increase) Original City Request $1,701,754* $275,370 (19% increase) $2,097,227 $670,847 (47% increase) * Includes additional Police Officer & Community Service Officer

Proposed FY 2014-2015 Budget CRA Funds Allocated For City Services/Programs in CRA District Clean & Safe Program (Police, landscape maintenance, code enforcement) 1,701,754 Community Improvement (Housing Rehab, Neighborhood Planner) 76,810 Downtown Trolley 300,000 Environmental Services (Project Engineer) 91,750 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 $2,866,314

City Services/Programs $2,866,314 Capital Improvements $6,208,222 TOTAL $9,074,536 * Represents 71% of CRA s Projected TIF Revenues

Proposed FY 2014-2015 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

Projected 2013-14 2014-15 Personnel 954,795 2. 1,050,520 Supplies & Materials 9,000 8,398 Equip, Property, & Maintenance 18,800 16,700 Office Space 43,000 48,000 Administrative Operations 179,804 3. 409,800 Total Expenses: 1. 1,205,399 1,533,418 1. 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

2013-14 2014-15 Tax Exempt Bonds 1,565,000 1,230,000 Taxable Bonds 185,000 190,000 City Payment for Former Chamber/Parking Site 226,215 Draft Amendment #2 1,800,000 City Payment for US1 Corridor Improvements 9,000 420,149 City National Line of Credit 47,060 Draft Amendment #2 60,000 Total Debt Service for FY14/15: 2,032,275 3,700,149

Debt City of Delray Beach Former Chamber/Parking Site 2015-2023 (if property not sold, paid off @ 3% interest) City US1 Corridor Improvements 2015-2026 (2.75% Interest) Total 2,004,655 3,991,419 City National LOC 2015-2017 (2.1% Interest ) 2,619,225 Revenue Bonds 2015-2019 6,090,000 Total 14,705,229

Thank You Questions?