All right.

Thank you all so much.

Today is Wednesday, September twenty-third, twenty twenty-six, a little bit past six thirty PM.

We are here, of course, for a community redevelopment agency public budget hearing.

Let's please rise for the Pledge of Allegiance.

I pledge allegiance to the flag of the United States of America and to the Republic for which it stands one nation under God, indivisible with liberty and justice for all.

Thank you so much.

Here.

All right, thank you so much.

We also have with us uh Crystal Maria student from uh MacArthur High School sitting in for Vice Mayor Collary, at least in her seat.

Uh she uh Crystal Marie is a uh Hollywood youth ambassador and she is uh learning about uh government and civics today by being present here at our budget hearing.

Uh uh executive director, uh let's please go ahead and uh discuss the proposed fiscal year twenty-seven budget for the CRA.

Thank you, board chair.

Um just uh quickly, I think it's important to note that this is a critical time in the life cycle of our Hollywood community redevelopment agency.

Uh just uh a little walk back in history.

The downtown district was uh originally founded in nineteen seventy-nine.

At that time the taxable value in the downtown was a hundred and three million dollars.

This year that taxable value is one point seven billion dollars.

Uh improvement uh list of projects that are underway and being completed both in the downtown with the streetscape projects and um on the beach with the very significant investment that's taking place in the street ends, the harmonization, uh, the sidewalk improvements, the undergrounding of utilities.

Uh and we recognize the need to complete those projects.

Um as we make this transition, uh, as you know.

Most of the staff has transitioned and are still performing the enhanced services uh that are provided to the CRA.

And we are working to transition the remaining staff into either city positions, while they'll be fully performing city functions or into enhanced services positions.

And with that, I'll turn it over to Adam Reichbach.

Welcome back, Adam.

Good evening again, Adam Reishbeck, Deputy City Manager.

So today we are going to discuss with you the proposed fiscal year 2027 budget for the both the beach and the downtown districts of the CRA.

Before we begin, I know that there was a lot of discussion at the first public hearing pertaining to the beach CRA in a post-sunset environment and the revenues and expenditures associated with it.

I want to just direct the conversation today to really focus in on the fiscal year 2027 budget.

We will be bringing forward recommendations for what that looks like in a post-CRA environment for the beach C for the beach district at an upcoming CRA board meeting to discuss some uh strategies and potentially some ways in which we can approach that moving forward.

So without further ado, we'll go ahead and get started.

Um and at the conclusion of the tonight's presentation, uh, you'll be asked to approve a series of resolutions once again that sets forth the fiscal year 2027 budget for both the beach CRA and the downtown CRA, and also establishing the position count uh for the CRAs for fiscal year 2027.

So we'll start, of course, with the beach CRA.

The taxable value for the beach CRA is approximately 4.7 billion dollars.

Um this is actually a decrease from fiscal year 2026 of 3.15%.

This did this decrease of 151 million dollars is mainly driven by a loss in uh taxable value of 145 million dollars from the hotels and motels uh sector.

As a result, the tax increment funding or the TIFF is just over 53 million dollars.

And as a result of the city-county CRA ILA, the 25% refund to each of the taxing authorities, which is outlined on the right side of the screen.

Um the city is set to receive $7.7 million back.

The county uh just over $5.8 million, and as you know, that'll be remitted back to the city as part of our affordable housing initiatives and programs.

And accordingly, uh the net TIF revenue for fiscal year 2027 for the beach CRA is just over $39 million.

The chart on the left uh indicates the revenue sources for the beach CRA with the largest shares set to come from the city.

Uh additionally, you will notice on the right table that a significant driver of the beach CRA budget is the carry forward, which is treated as fund balance for purposes of this conversation and provides for the continued funding for capital projects within the beach district.

The grand total of the beach CRA budget is 132.7 million dollars.

Operating expenditures represents approximately 39.5 million dollars for the beach CRA.

This is comprised of 100% share of the personnel uh expenses for those employees that remain in the CRA budget, and we will talk about that in a few slides.

Uh the operating expenditures represents 5.5 million, and this includes our beach maintenance contractual services, our property improvement program, our sun shuttle, and other office-related expenses.

Uh enhanced services at 12.7 million dollars accounts for community policing and our beach safety division.

Oops, one back, sorry.

Reimbursements to the city includes our city CRA staff transition costs, uh, administrative reimbursements, uh, code officers, and other internal services, and the small capital projects amount uh to $2.9 million dollars, and as previously mentioned, the um the totality of the refunds for fiscal year 2027 to all the taxing authorities, which includes the county, the city, and the children's services council uh is $14 million.

The beach CRA capital projects budget totals $93 million for fiscal year 2027, and the full list of those projects are outlined on the screen.

The largest shares for phase three and phase four of the underground and utilities project.

Resiliency projects includes the coastal resiliency street raising in the open space area on the west side of A1A along the intercoastal waterway.

Pump stations, uh this is represents our cost uh participation with FDOT uh from Daffodil to Iris Terrace and then from Jackson to Jefferson.

And also included here are the security bollards as identified at uh identified street ends and then the funding for renovations to Charno Park.

Uh for the downtown CRA, um, as you are aware, as part of the city county CRA ILA, the Broward County has committed an annual payment of three million dollars up through fiscal year 2030 to the downtown CRA for, and again, that's for five years per the ILA funding may be only utilized in the downtown CRA for purposes or projects that would otherwise be allowable under Section 163 Florida statutes pertaining to CRA or development related or sorry uh CRA related uses.

Additionally, the downtown CRA does have a carry forward of 11.9 million dollars, which similar to the beach CRA should be only be used for one-time capital expenditures within the downtown district.

The total revenue picture for downtown CRA reflects three million dollars from Broward County, the carry-forward amount of just under 12 million, and some small interest earnings.

The operating budget for downtown CRA is $3.3 million.

Um the operating cost highlights include our block by block contract, the sun shuttle, uh, various economic development activities and property improvement program.