Fort Walton Beach — Fiscal Year 2020 to 2021 CRA Budget

Community Redevelopment Agency Fund The Community Redevelopment Agency (CRA) Fund encompasses 7.52% of the City’s activities and services and accounts for funding derived from City of Fort Walton Beach and Okaloosa County Tax Increment Funding (TIF) – proceeds from increases in the taxable assessed value of the CRA District. The original CRA area was formed in 1980, with that being the base year for the purpose of determining the growth in assessed taxable value. In 2019, the CRA area was expanded to include additional areas. The TIF is determined by the growth in the assessed value of taxable property located in the CRA district from the base year to the current tax year and is multiplied by the current tax rate for the City and County. Expenditures in the CRA area target eliminating blight in residential and commercial areas. Revenue Highlights $4,500,000 Budget. $4,000,000 ……2022-23 $ Change % Change $3,500,000 Ad Valorem Taxes 1,510,607 92,631 6.1% $3,000,000 Intergov’t Revenue 1,157,390 138,124 11.9% $2,500,000 Interest & Other 1,600,000 1,600,000 100% $2,000,000 Approp. from Reserves 0 0 0% $1,500,000 $4,267,997 1,830,755 42.9% $1,000,000 $500,000 $0 Actual Actual Budget Budget Budget 2018-19 2019-20 2020-21 2021-22 2022-23 Ad Valorem Taxes Intergov't Revenue Interest & Other Interfund Transfers Appropriations  The budget is predicated on the lowered millage rate of 4.9999 mills for the City’s portion of the TIF. One mill equals $144.6 per $1,000 of taxable property value. Expenditure Highlights $4,500,000 $4,000,000 Budget. $3,500,000 2022-23 …… $ Change % Change $3,000,000 Personal Services 521,065 53,165 10.2% $2,500,000 Operations & Maintenance 2,168,166 1,667,976 76.9% $2,000,000 Replenish Reserves 952,056 65,500 6.9% $1,500,000 Interfund Transfer 169,210 (16,886) (10.0)% $1,000,000 Capital Outlay/Imprvmt 457,500 61,000 13.3% $500,000 0 $4,267,997 1,830,755 42.9% $0 Actual Actual Budget Budget Budget 2018-19 2019-20 2020-21 2021-22 2022-23 Personal Services Operations & Maintenance Capital Outlay/Imprvmt Interfund Transfers Replenish Reserves  Increases in Operational expenses are primarily due to the Landing Improvements Grant.  The increase is primarily due to Liza Jackson Park design and Heritage Park & Cultural Center addition. 130  109 COMMUNITY REDEVELOPMENT AGENCY FUND Actual Budget 2021-22 2022-23 % 2018-19 2019-20 2020-21 Adopted Adopted Change 865,478 983,485 973,811 1,037,888 2000-311-1000 Ad Valorem Taxes - City Original TIF 1,090,586 5.08% 274,323 369,491 377,181 380,088 2000-311-1100 Ad Valorem Taxes - City Expanded TIF 420,021 10.51% $ 1,139,801 $ 1,352,976 $ 1,350,992 $ 1,417,976 Total Ad Valorem Taxes $ 1,510,607 6.53% $ 1,139,801 $ 1,352,976 $ 1,350,992 $ 1,417,976 TOTAL TAXES $ 1,510,607 6.53% 572,263 713,061 693,972 746,053 2000-338-2000 Ad Valorem Taxes - County Original TIF 835,580 12.00% 181,739 303,492 275,249 273,214 2000-338-2100 Ad Valorem Taxes - County Expanded TIF 321,810 17.79% $ 754,002 $ 1,016,552 $ 969,221 $ 1,019,267 Total Local Shared Revenues $ 1,157,390 13.55% $ 754,002 $ 1,016,552 $ 969,221 $ 1,019,267 TOTAL INTERGOVERNMENTAL REVENUE $ 1,157,390 13.55% 18,648 36,946 32,766 - 1500-361-1000 Interest Income - 0.00% $ 18,648 $ 36,946 $ 32,766 $ - Total Interest Income $ - 0.00% 21,300 36,701 51,038 - 2000-362-1000 Rental and Lease Income R - 0.00% $ 21,300 $ 36,701 $ 51,038 $ - Total Rents and Royalties $ - 0.00% - - 24,585 - 1500-369-9000 Miscellaneous Revenue - 0.00% $ - $ 24,585 $ - Total Other Revenues $ - 0.00% $ - $ - $ - $ - Deparment of Envrionmental Protection Grant 1,600,000 100.00% Total State Grants $ 1,600,000 100.00% $ 39,947 $ 73,646 $ 83,804 $ - TOTAL INTEREST & OTHER REVENUES $ 1,600,000 100.00% $ - $ - $ - $ - TOTAL TRANSFERS IN $ - 0.00% $ 1,933,751 $ 2,443,175 $ 2,404,017 $ 2,437,243 TOTAL FUND REVENUES $ 4,267,997 75.12% 131 109-Revenues 8/28/2022 1:39 PM  109 CRA FUND - 2000 CRA Actual Budget 2021-22 2022-23 % 2018-19 2019-20 2020-21 Adopted Adopted Change Personnel Services: 5.00 5.00 6.00 4.60 Number of Employees (FTE's) 4.60 219,001 257,038 286,541 256,210 552-1200 Regular Salaries 288,092 12.44% - - - 150 552-1201 Service Awards 4,900 3166.67% 100 - 250 15,452 552-1202 Incentive Pay 11,191 -27.57% 827 - - - 552-1216 Final Leave - 0.00% 22,369 7,907 4,605 4,768 552-1400 Salaries - Overtime 5,007 5.01% 9,582 3,417 6,804 5,435 552-1401 Salaries - Overtime Holiday Worked 3,870 -28.79% 18,493 19,490 18,780 - 552-1501 Incentive - 0.00% 15,656 16,484 17,991 15,026 552-2100 FICA Taxes 17,243 14.76% 3,661 3,855 4,207 3,514 552-2101 Medicare 4,033 14.76% 86,583 84,891 124,885 96,044 552-2201 Retirement Contributions - Police Officers 107,476 11.90% - - 681 2,743 552-2204 Retirement Contributions - DC Plan 4,381 59.72% 36,311 42,859 62,565 63,762 552-2300 Dental, Life & Health Insurance 66,348 4.06% 9,217 7,237 7,684 7,676 552-2400 Worker's Compensation 8,524 11.05% $ 421,800 $ 443,178 $ 534,993 $ 470,780 Total Personnel Services $ 521,065 10.68% Operating Expenses: 118,243 408,581 91,797 50,000 552-3100 Professional Services 50,000 0.00% 183,929 198,768 151,184 165,000 552-3400 Other Services 180,000 9.09% 178 6,245 - - 552-3450 Other Services - Grounds Maintenance - 0.00% 591 811 - 1,200 552-4000 Travel and Per Diem 4,700 291.67% 64 - - - 552-4100 Communication Services 766 100.00% - - - 700 552-4200 Postage 700 0.00% 126,943 136,382 142,441 110,725 552-4300 Utilities 147,256 32.99% 11,550 20,600 23,660 24,600 552-4400 Rentals & Leases 23,800 -3.25% - 2,440 4,003 1,808 552-4610 Maintenance Contracts 4,330 139.49% 378 - 10 - 552-4620 Vehicle Repair - 0.00% 388 261 - - 552-4630 Equipment Repair - 0.00% 5,624 11,901 11,750 - 552-4640 Building Maintenance 8,500 100.00% - - 35 - 552-4700 Printing & Binding 1,000 100.00% 5,065 1,020 - 5,000 552-4800 Promotional Activities 5,000 0.00% - - - 125 552-4911 Holiday Gift Certificates 125 0.00% - 310 178 - 552-4915 Legal Advertising - 0.00% 2,255 - 1,684 - 552-5200 Operating Supplies - 0.00% 33 - - - 552-5204 Fuel & Oil - 0.00% - - - - 552-5210 Uniform Expense 100 100.00% - 84 29,015 18,000 552-5250 Operating Supplies - Grounds Maintenance 18,000 0.00% 1,838 1,170 1,170 1,890 552-5400 Dues & Publications 1,890 0.00% 445 - 890 1,143 552-5500 Training 2,000 74.98% Non-Operating: 60,860 - 8,874 81,400 552-8200 Grants and Aids 1,720,000 2013.02% $ 518,384 $ 788,572 $ 466,691 $ 461,591 Total Operating Expenditures $ 2,168,167 369.72% Capital Outlay: 459,317 1,003 6,000 20,000 552-6214 Improvements Buildings - -100.00% 9,162 94,791 42,052 61,500 552-6310 Improvements Other Than Buildings 20,000 -67.48% - - 108,183 - 552-6402 Equipment - 0.00% $ 468,479 $ 95,794 $ 156,235 $ 81,500 Total Capital Outlay $ 20,000 -75.46% Capital Improvements Program: - - - 200,000 541-6351 5018 - Downtown Parking Lot Improvements - -100.00% 596,491 - - - 5607 - Streetscape - 0.00% - - - - 5610 - Liza Jackson Waterfront Park Design 37,500 100.00% 572-6214 5363 -Heritage Park & Cultural Center Addition 400,000 100.00% 19,229 29,634 5,759 - 5499 - Landing Improvements - 0.00% - - - 65,000 541-6351 5608-Install Wayfinding in West Waterfront,Beal Pkwy & Uptown - -100.00% - - - 50,000 541-6214 5609-Demo of Bluewater Zoo & Bldg Design - -100.00% 132 109-2000-CRA 9/7/2022 8:43 AM  109 CRA FUND - 2000 CRA Actual Budget 2021-22 2022-23 % 2018-19 2019-20 2020-21 Adopted Adopted Change $ 615,720 $ 29,634 $ 5,759 $ 315,000 Total Capital Improvements Program $ 437,500 38.89% Other Financing Activity: 174,335 178,171 182,090 186,096 552-9901 Cost Allocation Reimbursement to General Fund 169,210 -9.07% - - - 922,276 581-9999 Revenues in Excess of Expenditures 952,056 3.23% $ 174,335 $ 178,171 $ 182,090 $ 1,108,372 Total Other Financing Activity $ 1,121,266 1.16% $ 2,198,718 $ 1,535,349 $ 1,345,768 $ 2,437,243 TOTAL EXPENSES $ 4,267,997 75.12% 133 109-2000-CRA 9/7/2022 8:43 AM COMMUNITY REDEVELOPMENT AREA (CRA) Share of City Budget $4,267,997, DESCRIPTION 7.5% The Community Redevelopment Area was established in 1980 and expanded in 1999 to address deteriorating conditions and facilitate economic growth and development within the designated area. Funding for infrastructure improvements and redevelopment activities comes from incremental increases in the taxable assessed value of the area. MISSION Rejuvenate the designated area to make it a place where citizens want to live, work, and play. Actual YTD thru 03/31 Budget CURRENT GOALS, OBJECTIVES, & METRICS (FY23) 2018-19 2019-20 2020-21 2021-22 2021-22 2022-23 Attract & Retain Businesses in the Target Area New Businesses in the CRA 16 24 28 18 25 25 Square Footage of Business Expansions in the CRA 19 19,867 19,213 4,200 15,000 15,000 Businesses Approved for Economic Incentive Grants 5031 0 2 3 10 10 Value of Economic Incentive Grants Provided to New or Expanding Businesses $0 $0 $9,446 $29,555 $100,000 $100,000 Private Investment Leveraged as a Result of Incentive Grants $0 $0 $1,475,000 $1,033,862 $2,000,000 $2,000,000 Grant Applications Approved within Two Weeks 0% 0% 0% 50% 90% 90% Attract & Retain Residents in the Target Area New Housing Units in the CRA 2 1 0 0 10 10 FUTURE GOALS (FY24 & FY25)  Implement Cultural Arts League Arts & Culture Strategic Plan.  Encourage private reinvestment through public improvements in the CRA.  Continue moving forward with additional plans, studies, and projects to implement Downtown Master Plan.  Update wayfinding signage throughout CRA.  Begin construction of improvements to Fort Walton Landing Park. PRIOR YEAR ACCOMPLISHMENTS (FY22)  Formed Cultural Arts League and developed Arts & Culture Strategic Plan.  Continued CRA Grounds Maintenance Contract to ensure that the district is clean and continually maintained.  Installed new signage at the Gulfview Hotel.  Relaunched CRA Economic Incentive Grants and began awarding funding to eligible projects. 134