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Resolution 2024-33298 RESOLUTION NO. 2024-33298 A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA,ADOPTING THE FINAL OPERATING BUDGET FOR THE NORTH BEACH COMMUNITY REDEVELOPMENT AREA FOR FISCAL YEAR 2025. WHEREAS, on July 28, 2021, the North Beach CRA Board adopted Resolution No. 005- 2021 and the City Commission also adopted Resolution No. 2021-31817 respectively approving the Interlocal Agreement by which Miami-Dade County delegated to the City certain redevelopment powers, including but not limited to the creation of the North Beach Community Redevelopment Area and implementation of the North Beach Community Redevelopment Plan; and WHEREAS, pursuant to Section 189.016(3), Florida Statutes, the governing body of special districts such as the North Beach CRA, must adopt a budget resolution each fiscal year; and WHEREAS, pursuant to Section 163.387, Florida Statutes, moneys in the Trust Fund may be expended for undertakings of the North Beach CRA as described in the Redevelopment Plan pursuant to an annual budget adopted by the North Beach CRA Board)and only for the purposes specified by Statute; and WHEREAS, project-related expenditures for FY 2025 account for approximately $435,000,which include$239,000 for community policing initiatives, $130,000 for enhanced Code Compliance in the North Beach Community Redevelopment Area to continue to provide enhanced levels of staffing and services throughout the area, and $66,000 to promote additional community cleanliness and beautification; and WHEREAS, the budget also includes $342,000 for both a Commercial Façade Improvement Program to improve area aesthetics and promote business attraction and retention and a Residential Property Improvement Program to promote the maintenance of naturally occurring affordable housing stock and promote resiliency, $175,000 for Arts & Culture related tourism, branding, and marketing, and $97,000 for small business development; and WHEREAS, administrative expenditures account for $72,000, which include a satellite office within the North Beach Community Redevelopment Area, of which lease and maintenance costs are shared with the City of Miami Beach Building Department on a prorated basis; and WHEREAS,other expenditures include$17,000 for the County's administration fee,which is equivalent to 1.5% of the County's respective FY 2025 tax increment financing (TIF) payment; a $40,000 contribution to the City for administrative expenditures based on an updated cost allocation study that was completed during FY 2024; a $251,000 set-aside for workforce housing and affordable housing based on 10% of the combined TIF revenues for FY 2025; and a $1.1 million set-aside for future projects; and WHEREAS, the City Manager recommends approval of the final FY 2025 operating budget for the North Beach CRA. NOW, THEREFORE, BE IT DULY RESOLVED BY THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, that the Mayor and City Commission hereby adopt the final operating budget for the North Beach Community Redevelopment Area for FY 2025 as outlined below and further detailed in the attached Exhibit "A Commercial Facade/Residential Property Improvement Program $342,000 Community Policing 239,000 Code Compliance 130,000 Community Cleanliness 66,000 Administrative expenditures 72,000 Arts & Culture 175,000 Small Business Development 97,000 County Administration Fee 17,000 City Administration Fee (Cost Allocation) 40,000 Set-aside for Workforce and Affordable Housing 251,000 Set-aside for future projects 1,077,000 Total FY 2025 Budget $2,506,000 PASSED AND ADOPTED this (25- day of . /PKPs ✓ , 2024. ATTEST: SEP 2 6 2024 Steven Meiner, Chairperson Rafael E. Granado, Secretary if ti 0 INCORPPORATED, �c. •.,,6.,,: APPROVED AS TO FORM &LANGUAGE &FOR EXECUTION City Attorney Date 2 Resolutions - R7 F MIAMI BEACH COMMISSION MEMORANDUM TO: Honorable Mayor and Members of the City Commission FROM: Eric Carpenter, City Manager DATE: September 25, 2024 TITLE: A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF . MIAMI BEACH, FLORIDA, ADOPTING THE FINAL OPERATING BUDGET FOR THE NORTH BEACH COMMUNITY REDEVELOPMENT AREA FOR FISCAL YEAR 2025. JOINT CITY COMMISSION AND NORTH BEACH COMMUNITY • REDEVELOPMENT AGENCY RECOMMENDATION The Administration recommends that the Mayor and City Commission of the City of Miami Beach adopt the attached Resolution, which adopts the final budget for the North Beach Community Redevelopment Area for Fiscal Year (FY)2025. • BACKGROUND/HISTORY On July 17, 2019, the City Commission adopted Resolution No. 2019-30892, accepting a preliminary report concerning a finding of necessity for the redevelopment of a certain area of North Beach, and requesting that Miami-Dade County delegate redevelopment powers to the City. On July 8, 2020,the Miami-Dade County Board of County Commissioners("BCC")approved Resolution No. R-619-20, delegating authority to the City to create the North Beach Community Redevelopment Agency (North Beach CRA), including direction to draft the North Beach CRA Redevelopment Plan and negotiate an Interlocal Agreement among the City, North Beach CRA, and Miami-Dade County to govern the redevelopment process. • Pursuant to the county's delegation of authority, the City undertook a significant public engagement effort to prepare the Redevelopment Plan. Simultaneous with the City's preparation of the Redevelopment Plan, in order to delineate their respective areas of responsibility with respect to the redevelopment of the Redevelopment Area,the City, North Beach CRA and Miami- Dade County administration negotiated an interlocal cooperation agreement (the "Interlocal Agreement"). On February 10, 2021, by adopting Resolution No. 2021-31596, the Mayor and City Commission officially created. the North Beach CRA pursuant to Section 163.357, Florida Statutes and declared the Mayor and City Commission to be the governing body of the North Beach CRA (the "North Beach CRA Board"). On May 12, 2021, pursuant to Resolution No. 003-2021, the Chairperson and Members of the North Beach CRA Board adopted the Redevelopment Plan and transmitted the Plan to the City Commission for approval, as required by Section 163.360(5), Florida Statutes. Additionally, pursuant to Resolution No. 004-2021, the Chairperson and Board Members approved the Interlocal Agreement, authorized the Chairperson and Secretary to execute the interlocal Agreement and further, authorized the transmittal of the executed Interlocal Agreement to the BCC for its consideration and approval. Likewise, on May .12, 2021, pursuant to Resolution No. 2021-31709, the Mayor and City Commission approved the Redevelopment Plan for the North Beach CRA and.authorized its Page 268 of 420 transmittal to Miami-Dade County. Contemporaneously, pursuant to Resolution No. 2021-31710, the Mayor and City Commission approved the Interlocal Agreement, authorized the Mayor and City Clerk to execute the Interlocal Agreement, and further, authorized the City Manager to transmit the executed Interlocal Agreement to the BCC for its consideration and approval. On July 20, 2021, the BCC approved Ordinance No. 21-70 establishing the North Beach CRA Trust Fund and Resolution No. R-696-21 approving the Redevelopment Plan and the final, negotiated Interlocal Agreement, as amended. On July 28, 2021, the North Beach CRA Board adopted Resolution No. 005-2021 accepting the Interlocal Agreement. The City Commission also approved the Interlocal Agreement via Resolution No. 2021-31817. Pursuant to Section 189.016(3), Florida Statutes, the governing body of special districts such as the North Beach CRA, must adopt a budget resolution each fiscal year. As noted in Section 163.387, Florida Statutes, moneys in the Trust Fund may be expended for undertakings of the North Beach CRA as described in the Redevelopment Plan pursuant to an annual budget adopted by the North Beach CRA Board) and only for the purposes specified by Statute. Additionally, the Interlocal Agreement stipulates that the City Commission approve the North Beach CRA annual budget prior to submittal to Miami-Dade County. ANALYSIS NORTH BEACH REDEVELOPMENT AREA Revenues Based on the 2024 Certified Taxable Values that were provided by the Miami-Dade County Property Appraiser on July 1, 2024, property values within the North Beach Community Redevelopment Area were approximately $1.8 billion, which represents an increase of $113.9 million, or 6.6%, over the 2023 Certified Taxable Values of approximately $1.7 billion. For FY 2025, the City's portion of the tax increment revenue totals approximately $1.5 million, and the County's portion of the tax increment revenue totals approximately $1.2 million. The City has, however, received correspondence from Miami-Dade County advising of the finalization of the tax roll for the prior year,which in the case of 2022, reflects a decrease from the preliminary valuation for the same year and will result in a corresponding adjustment/reduction of tax increment revenues totaling a combined $0.2 million for FY 2025. Expenditures Project-related expenditures for FY 2025 account for approximately $435,000, which include $239,000 for community policing initiatives, $130,000 for enhanced Code Compliance to continue to provide enhanced levels of staffing and services throughout the North Beach Community Redevelopment Area, and $66,000 to promote additional community cleanliness and beautification. The budget also includes $342,000 for both a Commercial Façade Improvement Program to improve area aesthetics and promote business attraction and retention and a Residential Property Improvement Program to promote the maintenance of naturally occurring affordable housing stock and promote resiliency, $175,000 for Arts & Culture related tourism, branding, and marketing, and $97,000 for small business development. Administrative expenditures account for$72,000, which include a satellite office within the North Beach Community Redevelopment Area, of which lease and maintenance costs are shared with the City of Miami Beach Building Department on a prorated basis. Other expenditures include $17,000 for the County's administration fee,which is equivalent to 1.5%of the County's respective FY 2025 tax increment financing (TIF) payment; a $40,000 contribution to the City for Page 269 of 420 administrative expenditures based on an updated cost allocation study that was completed during FY 2024; a $251,000 set-aside for workforce housing and affordable housing based on 10% of the combined TIF revenues for FY 2025; and a $1.1 million set-aside for future projects. FISCAL IMPACT STATEMENT See information provided above. Does this Ordinance require a Business Impact Estimate? (FOR ORDINANCES ONLY) If applicable, the Business Impact Estimate (BIE) was published on: See BIE at: https://www.miamibeachfl.gov/city-hall/city-clerk/meeting-notices/ FINANCIAL INFORMATION See information provided above. CONCLUSION The FY 2025 North Beach CRA budget is $2.5 million. To promote economic investment, growth, and revitalization within the North Beach Community Redevelopment Area and to address the existing and future obligations of the North Beach CRA, it is recommended that the Mayor and City Commission of the City of Miami Beach adopt the attached Resolution, which adopts the final budget for the North Beach Community Redevelopment Area for FY 2025. Attachment A— FY 2025 North Beach CRA Operating Budget (Exhibit A) Attachment B — FY 2025 North Beach CRA Work Plan EC/JDG/TOS/RA Applicable Area North Beach Is this a "Residents Right to Know" item, Is this item related to a G.O. Bond pursuant to City Code Section 2-17? Project? Yes No Was this Agenda Item initially requested by a lobbyist which, as defined in Code Sec. 2-481, includes a principal engaged in lobbying? No If so, specify the name of lobbyist(s) and principal(s): Department Management and Budget Page 270 of 420 Sponsor(s) Co-sponsor(s) Condensed Title Joint, Adopt Final North Beach CRA Operating Budgets for FY 2025. OMB Page 271 of 420 Attachment A - FY 2025 North Beach CRA Operating Budget (Exhibit A) FY 2022 FY 2023 FY 2024 FY 2025 Revenues and Other Sources of Income Actual Actual Adopted Proposed Tax Increment-City $ - $ 576,726 $ 1,082,000 $ 1,396,000 Tax Increment-County - 458,187 851,000 1,090,000 Interest Income - 244 - 20,000 TOTAL REVENUES $ - $ 1,035,157 $ 1,933,000 $ 2,506,000 Admin/Operating Expenditures CMB Administration $ - $ 25,954 $ 44,000 $ 112,000 County Admin Fee - 6,873 13,000 17,000 Total Admin/Operating Expenditures $ - $ 32,827 $ 57,000 $ 129,000 Project Expenditures Small Business Development $ - $ - $ 80,000 $ 97,000 Beautification - - 290,000 342,000 Arts&Culture - - 135,000 175,000 Enhanced Services: Community Policing - 100,000 186,000 239,000 Code Compliance - 26,359 100,000 130,000 Community Cleanliness - 13,184 100,000 66,000 Total Project Expenditures $ - $ 139,543 $ 891,000 $ 1,049,000 Reserves,Debt Service and Other Obligations 10%Set-aside for Affordable&Workforce Housing $ - $ - $ 194,000 $ 251,000 Set-aside for Future Projects - - 791,000 1,077,000 Total Reserves,Debt,&Other Obligations $ - $ - $ 985,000 $ 1,328,000 TOTAL EXPENDITURES AND OBLIGATIONS $ - $ 172,370 $ 1,933,000 $ 2,506,000 SURPLUS/(GAP) $ - $ 862,787 $ - $ - Expenditure Summary $1,200,000 - $1,000,00011 111 $800,000 $600,000 $400,000 $200,000 - $- Project Expenditures FY 2023 Actuals • FY 2024 Adopted ■ FY 2025 Proposed J NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY 140 11111410 NI if NORTHBEACH COMMUNITY REDEVELOPMENT AGENCY Fiscal Year 2025 Proposed Operating Budget and Work Plan North Beach Community Redevelopment Agency 1755 Meridian Avenue Miami Beach, FL 33139 Board of Directors Steven Meiner, Chair Kristen Rosen Gonzalez, Board member Laura Dominguez, Board member Alex J. Fernandez, Board member Tanya K. Bhatt, Board member David Suarez, Board member Joseph Magazine, Board member Micky Steinberg, Board member Executive Staff Eric Carpenter, Executive Director Ricardo Dopico, General Counsel Rafael Granado, Secretary North Beach CRA Advisory Committee Vacant, Chair Ronnie lssenberg, Vice Chair Romina Orozco-Encio Tom Richerson Manning Salazar David Sexton, Ex Officio NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY BOUNDARY MAP v..'s v,,, i4i;!.*.4*i'A"0tr,.4• ' 4- ..-.-.4.•„-.:...--_x'.•.,..•,.o,z- ' a - - . i •-•;.4,- -f 1..,.,4.W1:1r5(_• - ii ili -sl —4:1•-',1,1,,„,--' ,'. 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'I A4,„eital.:4"..r.4•, ..,..%141,1,4. ,• or" :• a, . - rii;itiit;„.„._... - ,, •,..' 77'...:,„..... -•'7 1574- lig‘.4.• 1 71,4,•.., ' • •41°•'t log:"9-i'gr444' ' - ••- %.:•!--4 ...,• ' — r i • . - a • '4.. ...%. . •-•110,..- -`.4111.1&.4..!t. "* ‘• '"'",' ,•;,-W -...k . . ' . 110' k • - . ,ik....., _ w","..? --'• '411*-.4Var A. '---IA':•-`0"4,'":,,r'l'IN-triplii:. ..i - - , .,.N. . r*" t* Sfr',..*•'''''.4"-• vtiipx: PIPIRMIO- ' ''. , -.. 1.,... ..- . --4, • In. .._ `-• .,..,.. ..-7•,.- ,,,.•113 :... .,.. . . . .. .. • . : ... -,... .. . utavir, ' ',-' l' '•'.,,,,,,-'' 1 ,. ...i..... .. ;.,„ --,...f• .Ago .. ,, -,*,,,,4:* ,, •-441.*-1# '- •-•41,4,t..L. 1 ‘,V. '•,,; NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY MESSAGE FROM THE EXECUTIVE DIRECTOR ERIC CARPENTER Honorable Chair Steven Meiner and Board of Directors: I am honored to present the Fiscal Year (FY) 2025 Budget for the North Beach Community Redevelopment Agency. FY 2023 was the first budget year for the North Beach CRA after its establishment and approval by Miami-Dade County on July 20, 2021. The Operating Budget and Work Plan for FY 2025 herein, '; commencing on October 1, 2024 and ending on September 30, 2025, is the third budget for the North Beach CRA. We are thrilled by the third consecutive year of compelling growth in the Redevelopment Area following the 2021 base year. The combined tax s." increment revenue from the City of Miami Beach and Miami-Dade County totals approximately $2.84 million reflecting an increase of approximately 29% over the prior year. With taxable values at approximately$1.73 billion in 2023,the Redevelopment Area has experienced a 6.6% increase in taxable values over /%, the prior year and a 30%increase from $1.42 billion in the base year(2021)to $1.84 billion in the current year.This remarkable growth signifies the significant potential of the area. On June 4, 2024, the Miami-Dade County Board of County Commissioners ratified the North Beach CRA FY 2024 Budget,via Resolution No. R-490-24 .With this approval and pursuant to the Interlocal Agreement,the North Beach CRA expended budgeted funds to implement the Redevelopment Plan. The executive team, with input from the North Beach CRA Advisory Committee, has planned for the future by identifying short-term and long-term strategies, initiatives, and programs. These plans are based on the adopted Redevelopment Plan and are aimed at enhancing the area and laying the foundation for future economic investment. The budget for Fiscal Year 2025 recommends a prudent set aside of approximately 40% of tax increment financing revenue, similar to the prior budget year. This set aside will continue to be used on future projects, such as affordable and workforce housing, infrastructure,and other major projects that are essential to the community. The North Beach CRA district, and North Beach community, are at a pivotal point with the completion of the Beachwalk and Rue Vendome Plaza renovation, progress on planning for the Byron Carlyle Theater through the City's Arts and Culture General Obligation Bond, implementation of public improvements with the Ocean Terrace Park and Streetscape Improvement Project, and several other approved private development projects in the North Beach Town Center zoning district. The area is ripe for new economic investments which could include the redevelopment of the Deauville Hotel site, the development of the 72nd Street Community Complex, and major resiliency projects. We are confident that the tax increment revenue will be accelerated by direct and indirect economic development resulting from North Beach CRA programs and investments, such as the Commercial Facade Improvement Program which works to beautify commercial corridors like the Normandy Fountain business district and Collins Avenue, facilitate owner investment in properties within the district, and attract new economic growth. The budget contains appropriate allocations for continuation of the CRA's beautification programs;enhanced services including community policing, code compliance, and sanitation; arts and culture-related branding, communications and marketing; small business development programs and services; administrative expenses including administrative fees as required by Miami-Dade County, development of a short- term strategic plan, and the operations of the North Beach CRA office within the Redevelopment Area. NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY MESSAGE FROM THE EXECUTIVE DIRECTOR ERIC CARPENTER CONT'D Prioritizing a strong organizational and fiscal foundation for the North Beach CRA is essential to long-term success. I would like to thank the greater Miami Beach community, led by North Beach CRA Chair Steven Meiner and the CRA Board of Directors,and the North Beach CRA Advisory Committee for continued leadership and guidance in the budget and planning process for one of the City's most unique and promising areas. Through collaboration, innovation, and fiscal conscientiousness,we will continue to elevate North Beach and make it an exceptional place for residents, businesses, investors, and visitors. In addition to the Board of Directors and Advisory Committee, the North Beach CRA appreciates the contributions of Rickelle Williams, Assistant City Manager/Economic Development Director; David Martinez, Interim Assistant City Manager;Jason Greene, Chief Financial Officer;Tameka Otto Stewart, Budget Director; Heather Shaw, Economic Development Assistant Director; Richard Ajami, Budget Officer; Kyle Teijeiro, Senior Budget Analyst;and Luis Wong, Administrative Services Manager. Respectfully submitted, Eric Carpenter Executive Director NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY �0 8fgCy * i. �IJ q. ..... ; . r,', W G y/f %uuy"I 4 ia."'' `4DEvi1.01 'E ORGANIZATIONAL CHART Chair and Board of Directo iiiL (Mayor and Commission) Secretary Executive Director General Counsel (City Clerk) i (City Manager) ii (City Attorney) Finance Director (CFO) Economic Development h_ Director CIP, Procurement, 1111 Planning, Building, Public Works (Sanitation), 1 Management& Budget, Code Compliance, and Police NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY litli••••0, • **40 Ain A Bill 40:4, BACKGROUND BACKGROUND CONT'D The City of Miami Beach is recognized and admired on a local Climate resiliency, environmental sustainability, transportation, and national scale as a dynamic and vibrant destination.The warm economic development, affordable housing, historic preservation, climate, accessible beach, and unique lifestyle amenities are just a and land development regulations are among the principles few of the things that make Miami Beach a distinguished tourism targeted by the aforementioned planning efforts. To realize these mecca. The City's significant investment in the arts, aesthetics, planning goals, City residents, the Mayor, and City Commission recreation, public safety, and climate resiliency, coupled with the have approved General Obligation Bond (G.O. Bond) funding for depth and quality of residential and educational offerings, have major improvement projects in the North Beach area; however, it made it an ideal live-work-play environment. became clear that an additional funding source would be necessary to generate lasting impact. Through the prioritization of quality of life and strategic, measured development and preservation, the City continues to elevate its On July 17, 2019, the City Commission adopted Resolution No. stature as a major driver of the Miami-Dade County economy and 2019-30892, accepting a preliminary report concerning a finding brand. Notwithstanding sustained progress citywide, the North of necessity for the redevelopment of a certain area of North Beach, Beach area has trailed in the level of redevelopment, revitalization, and requesting that Miami-Dade County (the "County") delegate economic growth,and investment,when compared to other areas of redevelopment powers to the City.On July 8,2020,the Miami-Dade Miami Beach. Substantial commercial real estate vacancy, obsolete County Board of County Commissioners("BCC")approved Resolution housing stock, limited redevelopment, environmental and resiliency No. R-619-20, delegating authority to the City to create the North challenges, and depressed household income are among the Beach Community Redevelopment Agency (North Beach CRA), pressing challenges still facing North Beach. Through past efforts including direction to draft the North Beach CRA Redevelopment like the North Beach Revitalization Plan, the North Beach Master Plan (Redevelopment Plan) and negotiate an interlocal cooperation Plan (Plan NoBe), the West Lots Plan, and other initiatives, the City agreement among the City, North Beach CRA, and Miami-Dade of Miami Beach has laid the groundwork to encourage growth and County to govern the redevelopment process. investment in North Beach. NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY BACKGROUND CONT'D Pursuant to the County's delegation of authority, the City undertook North Beach a significant public engagement effort in preparation of the Community Redevelopment Agency Redevelopment Plan Redevelopment Plan.During the preparation process,the City,North May 2021 Beach CRA, and County Administrations negotiated an interlocal cooperation agreement to delineate their respective areas of responsibility with respect to the redevelopment of the Redevelopment Area (the"Interlocal Agreement"). On February 10, 2021, via Resolution No. 2021-31596, the — -- Mayor and City Commission officially created the North Beach CRA �+ pursuant to section 163.357, Florida Statutes, and declared the Mayor and City Commission to be the governing body of the North Beach CRA. On May 12, 2021, pursuant to Resolution No. 003-2021, .j�`y • the Chairperson and Members of the North Beach CRA Board ' ' , r,, adopted the Redevelopment Plan and transmitted the Plan to the City Commission for approval, as required by Section 163.360(5), Florida Statutes. Additionally, pursuant to Resolution No. 004 „p,,.+I.a, ”/'MO WW1 o,A are.....: 2021,the Chairperson and Board members approved the Interlocal "p.""N'"O•"""N"""""' Agreement, authorized the Chairperson and Secretary to execute the Interlocal Agreement, and further, authorized the transmittal of PURPOSE STATEMENT the executed Interlocal Agreement to the BCC for its consideration and approval. The North Beach CRA Redevelopment Plan envisions a vibrant, resilient community with a Town Center, increased housing density, Likewise,on May 12,2021,pursuant to Resolution No.202 1-3 1 709, preservation of historic structures, access to recreational amenities, the Mayor and City Commission approved the Redevelopment Plan available public parking, and additional restaurant and retail for the North Beach CRA and authorized its transmittal to the County. offerings to support new and current residents. The Redevelopment Contemporaneously, pursuant to Resolution No. 202 1-3 1 71 0, the Plan concepts and approaches cover a range of project types across Mayor and City Commission approved the Interlocal Agreement, several implementation dimensions such as scale, scope, cost, authorized the Mayor and City Clerk to execute the Interlocal time duration, and potential impact outcomes. The Redevelopment Agreement, and further, authorized the City Manager to transmit the Plan presents goals and strategies which may be implemented executed Interlocal Agreement to the BCC for its consideration and using funding from tax increment revenue derived from within the approval. designated boundary over the 30-year life of the North Beach CRA. On July 20, 2021, the BCC approved Ordinance No. 21-70 REDEVELOPMENT PLAN GOALS establishing the North Beach CRA Trust Fund and Resolution No. R-696-21 approving the Redevelopment Plan and the final,negotiated 1. Provide Economic Development Opportunities for Businesses, Interlocal Agreement, as amended. On July 28, 2021, the North Property Owners, and Residents Beach CRA Board adopted Resolution No. 005-2021 accepting 2. Invest in Climate Resilience, Sustainability&Infrastructure the Interlocal Agreement. The City Commission also approved the Interlocal Agreement via Resolution No. 2021-31817. The North 3. Strengthen Cultural Arts, Branding & Marketing, and Beach CRA's governing documents and legislation may be accessed Communication at its website: https://www.miamibeachfl.gov/northbeachcra. 4. Protect and Enhance the Neighborhood Character 5. Improve the Quality of Life of Residents and Visitors 6. Leverage Resources for Community Redevelopment NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY INTERLOCAL AGREEMENT INTERLOCAL AGREEMENT CONT'D The adopted boundaries of the Redevelopment Area delineate the • The City and the County hereby agree to contribute 60 percent area within which tax revenue will be generated and captured (60%)of the tax increment funds derived from the Redevelopment during the 30-year life of the North Beach CRA, for expenditure on Area on an annual basis;and investments and projects identified in the Redevelopment Plan. The Interlocal Agreement provides for material financial terms agreed • The North Beach CRA budget for expenditures funded by tax upon by the City of Miami Beach, the North Beach CRA, and the increment revenues shall be capped,so that an amount equal to County. The Agreement further contains the following provisions the TIF revenues paid into the Trust Fund by the County and the governing use of TIF revenue: City attributable to 10 percent (10%) of the incremental value in the Area, shall remain un-expended , except for the purpose • One member of the County Commission,ora County Commission of funding projects associated with affordable and workforce designee,may be appointed to serve on the North Beach CRA's housing; and Board of Commissioners (in addition to the other members appointed to the North Beach CRA's Board of Commissioners • In the year which the combined annual contribution into the (i.e., the City Commission). Said County Commissioner, or Trust Fund by the County and the City reaches or exceeds designee, shall be vested with the same rights, duties, and $1.0 million, this 10 percent (10%) shall only be used for the obligations as any other North Beach CRA Board member;and purpose of funding projects associated with affordable and workforce housing, including but not limited to,the construction, • No more than twenty percent (20%) of the total tax increment preservation, and rehabilitation of such housing;and funds deposited annually into the Trust Fund by the City and the County shall be used for total administrative expenses(including • The North Beach CRA shall not budget in any fiscal year more indirect and overhead expenses which may not exceed six than ten percent (10%) of the value of the City and County percent (6%) of the total contemplated administrative expenses tax increment payment for that year on capital maintenance to be spent under the Redevelopment Plan);and activities or community policing, respectively;and • The County shall charge,and the North Beach CRA shall pay to • Beginning FY 2050, the County, North Beach CRA, and the the County, no later than March 31st, an annual administrative City will negotiate an interlocal agreement to account for the fee ("County Administrative Fee"). This County Administrative sunset of the North Beach CRA. Fee shall be 1.5%of the County's payment to the North Beach CRA.The County Administrative Fee shall not be included in the (20%) limit on administrative expenses defined in this section; and • _ ... :IOW la • g i 1 • III K P • :..4,^� }., ' . F• yr 111 1 w.. ' T- Ocean Terrace Proposed Rendering NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY ACCOMPLISHMENTS AND ACTIVITIES ACCOMPLISHMENTS AND ACTIVITIES CONT'D 1. Cultural Arts Marketing and Branding Both programs are structured as a reimbursable matching grant On May 14, 2024, the North Beach CRA Advisory Committee incentive available to properties in the defined Program area. recommended the allocation of CRA funding for seasonal Following an application and approval process, program marketing support for the Rhythm Foundation's Seaside Summer participants are eligible for reimbursement for up to 70% of 2024 Series at the Miami Beach Bandshell, a historic cultural costs for certain improvements,with a total cap of$20,000 per asset owned by the City and managed by the foundation approved application. The Residential Property Improvement with oversight by the City's Parks and Recreation Department. Program aims to support the Redevelopment Plan objective of Strategic marketing and branding initiatives promote the North promoting workforce and affordable housing, as eligibility is Beach CRA Redevelopment Plan strategy of strengthening restricted to participants with properties containing a majority cultural arts in the Redevelopment Area, by supporting and of residential units leased to households earning up to 140% enhancing cultural facilities through cultural tourism and of area median income (AMI). For three (3) years following programming (North Beach CRA Redevelopment Plan sections award, participants may not increase rents for the income- 9.3.1 and 9.3.3). eligible units by more than 3% per year. Program promotion is achieved through in person canvassing and webinars. In In June 2024, in line with the Committee's recommendation,the FY 2024, there were 2 applicants awarded with 7 applicants North Beach CRA launched its 2024 branding and marketing currently in progress. campaign, featuring pole banner installations at 30 locations throughout the Redevelopment Area. Each installation's dual- On April 9, 2024, the North Beach CRA Advisory Committee banner butterfly design showcases one banner with the North recommended that the Board of Directors of the North Beach Beach CRA's "Know NoBe" branding hashtag, a concept CRA consider expansion of the Commercial Facade Improvement proposed by the Advisory Committee, and the Miami Beach Program beyond the Normandy Fountain area, to increase the Bandshell on a second banner, upon flag poles alongside the scope of eligible program applicants to include commercial Normandy Fountain and throughout Town Center on 71st Street, properties along Collins Avenue within the Redevelopment Area. Collins Avenue, and Harding Avenue. On May 3, 2024, the North Beach CRA Board adopted CRA Resolution No. 016-2024, accepting the Advisory Committee's 2. Launch of Commercial Facade Improvement Program and recommendation and expanding the geographic scope of the Residential Property Improvement Program program to include Collins Avenue properties. On June 28, 2023, the North Beach CRA Board approved two new CRA beautification programs, a Commercial Façade Improvement Program and Residential Property Improvement Program, initially targeting properties in the vicinity of Normandy Fountain/Rue Vendome Plaza. The programs aim r+�� -re.- T.- _- , ;,� -�.. to enhance and improve the district's existing building stock by „ s; ganr�ry , helping subsidize private property beautification, maintenance, 0%`7�• `(` • ~� = J` ■ "'"' and resiliency upgrades. These exterior improvements may ^ =��` o •,` � �i fi- include, but are not limited to, new windows, doors, lighting, ►1- ,;)\ r, a` .� }F and signage. The Commercial Facade Improvement Program 0 '� yy. 1Fit) a '� assists commercial properties, and the Residential Property � yetis . .� - A_ - ��► Improvement Program targets the district's multifamily housing .% stock. frolc. — •— dti'..:.:� -.� •lk. �jT!'}fit •� 111L,417.41111.1 .. . Original Program Area sr NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY ACCOMPLISHMENTS AND ACTIVITIES CONT'D ACCOMPLISHMENTS AND ACTIVITIES CONT'D 3. Enhanced Services: Community Policing, Sanitation, and Code 4. Affordable and Workforce Housing Compliance While at least 10% of TIF revenue generated must be itemized The North Beach CRA provides funding support to augment and to fund projects associated with affordable and workforce enhance the levels of City services existing in the Redevelopment housing, the North Beach CRA has not yet expended these Area. Funding has been utilized for community policing services funds. Rather, the North Beach CRA has set these funds aside within the North Beach CRA district boundaries,including crime for the construction, preservation, and/or rehabilitation of prevention initiatives, proactive policing, and response to calls such housing. Once an eligible project or program has been for service. Community policing innovations are proven to identified, the North Beach CRA will allocate these funds be a useful tool in protecting neighborhoods and improving accordingly to comply with the goal of promoting affordable quality of life. As of 3rd Quarter of FY 2024, Miami Beach and workforce housing. Note that the Residential Property Police Department (MBPD) officers have proactively engaged Improvement Program, described above, does focus on with approximately 310 businesses, issued roughly 82 moving preserving affordable and workforce housing in addition to citations, made 23 felony arrests and 159 homeless referrals. encouraging property enhancement and beautification. The Miami Beach Code Compliance Department has provided WORKPLAN enhanced services in the North Beach CRA district. Calls for service, patrols, and investigations addressing quality of The North Beach CRA Redevelopment Plan's Goals and life issues and building violations, including enhancement of Implementation Strategies include initiatives derived from sources such as resident and stakeholder suggestions during the physical appearance and cleanliness, have served to increase compliance throughout the district.Code Compliance staff have Redevelopment Plan development process, best practices, and dedicated an additional 251 hours quarterly of service resulting concepts recommended in previous studies, reports, and master in 202 inspections and 126 violations, as of the 2nd Quarter Plans. Implementation strategies vary in cost, duration, impact, and of FY 2024. complexity. There are several strategies that may require significant costs to effect visible change. The Miami Beach Sanitation Division has diligently provided comprehensive litter control services in the North Beach CRA As the Redevelopment Plan and previous related plans area, further extending their range of services. As part of their are expansive in scope, a primary initiative for FY 2025 commitment to maintaining cleanliness and promoting a healthy includes the development of a short-term (i.e.,3-5 year) environment, the Division has allocated an average of 25 strategic plan to outline the initial efforts of the North additional hours per month specifically dedicated to this area. Beach CRA. The proposed immediate focus of the North Beach Through these efforts, the Sanitation Division ensures that litter CRA during its initial years continues to concentrate on actions that public can be implemented at little cost, since long-term implementation is promptly collected, streets are regularly swept, and publ spaces are kept free from debris. By providing this valuable strategies are typically ongoing or are projects for which funding is service, the division contributes significantly to enhancing the not currently available. Immediate short-term strategies may include aesthetic appeal and overall quality of life in the Redevelopment actions addressing,for example,code compliance or marketing and Area. branding initiatives, which involve less expenditure but are visible and impactful, nonetheless. �"tr =^d NovHo g e s.t u= s NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY PROGRAM AND INITIATIVES PROGRAM AND INITIATIVES CONT'D The Fiscal Year 2025 operating budget recommendation b. Residential Property Improvement Program: The North prioritizes six categories of expenditures: Beach CRA has developed a residential property improvement North Beach 0RA program,a matching grant available to residential property owners to promote the resiliency, beautification, and historic preservation Rove"" AdoptedBudget Percentage Prop." . dget Pemntage of the community The program provides for renovation and Wiry o Mmx 6Gxn II((mVRnamn f 1,062,000 560% 1l'o6000 '•`•'% rehabilitation of multifamily residential properties to encourage si.., n&faonly 76( MinnL I Sal 000 ee 0% I ILA 000 4:15% Irko60 f 00% 20000 0VI% sustainable features, housing affordability and age-in-place TOW: f 1133,000 100.0% 24011o50 100.0% opportunities for residents. Expenditures p�ege0 N1 PercentageeProposed Budget P� Redevelopment Plan Goal 4:Protect and Enhance the Neighborhood FM:Ne11KMro(1 s reotxm 16 0% f 31E 000 le A% 60,31,,6,rane6w, Character Canr6o0%Poking f 166.000 90% f 230.000 0.5% r ode n.noiss40 f WO 000 52% f 130.000 5.2% (.��a Glom., .. 'e ,00.0o0 52% s e5.000" 26% • Section 7.5.3: Building Adaptation - Resilient design can also A"awl CWuu $ '90,°0g 0 41%% f 175,000 3 p% P 0% 0 �n s ep,g be implemented through residential, commercial, and business s 3 60166.60170 $ 57,000 29% 1 97.000 30% facade improvement programs. The programs would aim to :w"de AOrrhibW and MAW"Ho n1 g f 701,000 10.0% f 251,000 10 0% See rVaraProwW s 791,000 e09% s 1.071000 e.,o% help the Redevelopment Area to address facades and building Teti: f '.as000 100.0% s ssos,aoo 100.0% systems to properly anticipate and accommodate future extreme 1. Beautification weather patterns and natural events. This incentive-based program could also encourage building owners to invest in a. Commercial Façade Improvement Program: The North green infrastructure. Beach CRA has developed a commercial facade improvement program (matching grant)available to businesses located within the • Section 9.1.2: Real Estate - Establish protective measures Normandy Isles/Rue Vendome Plaza section of the Redevelopment to safeguard housing for existing residents within the CRA Area.The purpose is to continue improving the visible appearance consistent with federal requirements. and street presence of properties while enhancing the functionality and sustainability of businesses within this main commercial area. • Section 9.2.1: Resiliency and Sustainability — Develop a climate resiliency incentive program to assist residential Redevelopment Plan Goal 1: Provide Economic Development and commercial property owners with applicable capital Opportunities for Businesses, Property Owners,and Residents. improvements. • Section 6.2: Normandy Isles - The Normandy Fountain area, • Section 9.4: Develop incentive programs to rehabilitate and also known as Vendome Plaza, serves as the community and preserve existing housing stock and/or develop new housing commercial center of Normandy Isle and could develop into stock; create programs and incentives to mitigate the costs of a vibrant, pedestrian-oriented shopping district with a strategic historic preservation and rehabilitation; and create programs combination of protection and enhancement. and incentives to promote age in place opportunities for existing and new housing stock. • Section 8.3: Several initiatives, such as rehabilitation and beautification grants, will provide funding for businesses and Section 9.4.1: North Shore—Partner with multifamily property own- property owners in the CRA to make interior and exterior ers to retain affordable and workforce housing offerings. improvements to their properties. • Section 9.1.1: Business Attraction and Retention - Develop incentive programs to help existing or new property and business owners with aesthetics, repairs, rehabilitations, improvements, land acquisition, and resiliency modifications. • Section 9.4.1: Normandy Isles — Fountain Area - Support redevelopment of sites around the fountain to include retail, Class A office space, and residential. NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY PROGRAM AND INITIATIVES CONT'D PROGRAM AND INITIATIVES CONT'D 2. Enhanced Services Redevelopment Plan Goal 5:Improve the Quality of Life for Residents and Visitors a. Community Policing: The North Beach CRA is vested with the power to provide funding to support the development and • Section 9.5.2: Safety - Work with the Miami Beach Police implementation of community policing innovations, subject to the Department (MBPD) or ambassador programs to create and budgetary limitation set forth in the Interlocal Agreement. Through implement innovative community policing strategies. additional shifts/overtime, the Miami Beach Police Department (MBPD)will augment and enhance the relationship between the Police b.Code Compliance:The North Beach CRA, in cooperation with and the community, by building trust among officers and residents to the MBPD, Miami Beach Fire Department, and Code Compliance encourage the creation of effective crime watch groups. Community Department, will work to create a safe, quality environment for policing innovations involve policing techniques designed to reduce residents and businesses.The CRA will fund two additional 10-hour crime through increasing the perceived risks of engaging in criminal Code Compliance officer shifts per week to provide opportunities activity due to a more visible presence of police in the community. for community engagement, education, outreach, and enforcement This goal of heightened visibility can be achieved through measures efforts. such as community mobilization, neighborhood block watch,citizen patrol, citizen contact patrol, foot patrol, neighborhood storefront Redevelopment Plan Goal 4: Protect and enhance the neighborhood police stations, field interrogation, or intensified motorized patrol. character. Community policing initiatives will include "Park and Walk" foot patrols that increase visibility in parks and commercial corridors and • Section 9.4: Work with the City to ensure property owners are proactive police activities including quality of life patrol sweeps and meeting code compliance standards and implement remedies drug and traffic enforcement. when necessary • Section 9.5.2: Safety — Work with the Miami Beach Code Compliance Department to highlight opportunities and address code-related concerns. II OH ,41 -4.1 t `� ii01‘ • 1 Normandy Fountain Rue Vendome Plaza NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY PROGRAM AND INITIATIVES CONT'D PROGRAM AND INITIATIVES CONT'D c. Sanitation: Maintaining clean streets across public and private • Section 9.3.1: Cultural Tourism - Leverage arts and culture spaces is key to the enhancement and improvement of a community. as a key community development strategy and a core sector As the City plans for additional North Beach staffing for the Public of comprehensive community planning and development; Works Department - Sanitation Division, the North Beach CRA Encourage and support the recruitment of cultural partners will provide support for waste processing fees associated with the and performing arts organizations; Invest and assist in removal of solid waste attributed to illegal dumping within the district. cultivating, preserving, and enhancing the artist community; Explore opportunities to partner or collaborate with cultural Redevelopment Plan Goal 5:Improve the Quality of Life for Residents organizations with emphasis on those based in Miami Beach; and Visitors and Promote hotels, restaurants,and retailers with area cultural tours and food fairs or other similar programs. • Section 9.5.1:Community Spaces-Work with the City to ensure streets are maintained and cleaned regularly. • Section 9.3.2: Branding - Develop a logo, campaign strategy, and signage including for outreach and relationship-building to 3. Arts and Culture multilingual stakeholders and residents. Through leveraging cultural anchors and assets belonging to the 4. Small Business Development North Beach CRA,there is an opportunity to promote cultural tourism fueled by curiosity and interested in arts and culture. Art galleries, The North Beach CRA business community is both strengthened by the Miami Beach Bandshell, Rue Vendome Plaza and other public and composed of the various small businesses and entrepreneurs spaces attract tourists and improve quality of life of residents. The operating within the commercial and residential districts. Small North Beach CRA has already achieved some success in its branding business development programs and services will enhance business development through its creation of a logo. Further development of success and provide resources to encourage business attraction, the brand strategy is needed to further propel the Redevelopment retention,and creation. Area. Redevelopment Plan Goal 1: Provide Economic Development Redevelopment Plan Goal 3: Strengthen Cultural Arts, Branding & Opportunities for Businesses, Property Owners, and Residents. Marketing, and Communication r/ A..) r,, aw , _.,1.444hi 1 i l, L 'V i,,:-.,:,,\';7.1: ,Ilf:i)11-, ' 47/rilik, ' \ Ili' ,' . . tin . 1 44 Ar` �4 �' ram- 1 J V - `/ .. `^ - :j.+ y�L- 1-1.. _ y / — )�. V -` V NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY PROGRAM AND INITIATIVES CONT'D PROGRAM AND INITIATIVES CONT'D • Section 9.1.1: Business Attraction & Retention — Inventory 6. Affordable and Workforce Housing existing businesses to identify complementary businesses for attraction to fill the retail gab identified in the market analysis; The Interlocal Agreement stipulates that the North Beach CRA must Engage with existing business owners to assess and support dedicate at least 10% of TIF revenue for affordable and workforce housing. The funding may be used for renovation, construction, or their small business needs such as marketing, rehabilitation, preservation efforts. The 10%set aside for FY 2025 will add to the resiliency improvements, labor needs, and employment training; Work with City to allow temporary uses, pop-up foundation of funding for housing related projects and initiatives in activations,retail,and restaurants,whether in vacant shopfronts future years. Although funding is not slated to be expended in FY or on vacant lots;Implement a "Shop Local"program;and Host 2025, planning efforts will focus on preservation and renovation "banker/broker/developer"events to highlight available land, of naturally occurring affordable housing units, development of new multifamily affordable and workforce housing inventory, and retail, and office space. homeownership opportunities. 5. Administration Redevelopment Plan Goal 4:Protect and Enhance the Neighborhood General: Administrative expenses for the North Beach CRA are Character limited by the Interlocal Agreement which stipulates that no more than 20%of TIF revenue may be used for such costs. The Interlocal • Section 9.1.2: Real Estate - Identify priority areas for Agreement also provides for an Administrative Fee to Miami-Dade redevelopment and associated property acquisition needs County in the amount of 1.5%of its TIF contribution to the Trust Fund. related to replacement housing, infill redevelopment, parks, Other administrative expenses include a contribution to the Miami greenspace, parking,and resiliency efforts. Beach General Fund to cover general costs for internal services as determined by a cost allocation study. The North Beach CRA will also contribute to a portion of personnel costs for a City of Miami Beach Economic Development staff member and the Miami Beach Building Department's lease of commercial office space to allow for a physical presence within the district. ,, .1 ', • r' j� ' 0 <'ti9 like IF . . i j.2 \ 7 �:ir� '_ •�.,. `.- • " LA• .:off �'iT I1k Miami Beach Bandshell NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY PROGRAM AND INITIATIVES CONT'D BUDGET HIGHLIGHTS CONT'D • Section 9.4: Develop incentive programs to rehabilitate and • $17,000 for the County's administrative fees, which are preserve existing housing stock and/or develop new housing equivalent to 1.5% of the County's respective TIF payment for stock; Create infill housing programs to increase residential FY 2025 projects on existing residential sites; Support affordable homeownership opportunities through first-time homebuyer, • $40,000 contribution to the City's General Fund for down-payment, and utility assistance programs; Create administrative costs programs and incentive to increase affordable and workforce housing, mixed-income projects, mixed-use projects; Create • $31,000 allocated for adminstrative-related costs for personnel, programs and incentives to mitigate the costs of historic supplies,training, and travel preservation and rehabilitation; and Partner with the Miami Beach Housing Authority and the City's Housing and Community • $17,000 allocated for small business development and third- Services Department to protect existing residents and provide party audits for small businesses affordable housing and homeownership opportunities. 7. Future Projects • $32,000 allocated for external auditing services • $175,000 allocated for arts and culture-related tourism, The Redevelopment Plan contemplates projects of varying complexity branding, and marketing and costs.As TIF revenue grows,the North Beach CRA will be better able to leverage resources to implement large-scale projects and • $251,000 allocated to be set-aside for workforce housing programs including infrastructure, environmental, and parks and recreation projects. Additionally, the North Beach CRA will be able • $4,000 allocated for the chargeback to internal service to utilize revenue to supplement grant funded projects and have the departments for their services capacity to bond TIF revenue for even greater impact. BUDGET HIGHLIGHTS • $1,077,000 allocated to be set-aside for future projects • $5,000 for a satellite office within the North Beach CRA district, of which lease and maintenance costs are shared with the Miami Beach Building Department on a prorated basis • • $342,000 for the Commercial Facade Improvement Program w ...' 14+ 1• in the Normandy Fountain/Vendome Plaza area to embrace "• historic architecture and improve business attraction and 1 retention, and the Residential Property Improvement Program to promote the maintenance of naturally occurring affordable housing stock and promote resiliency I t, rr • $239,000 allocated for MBPD community policing initiatives y ' - to continue to provide enhanced levels of staffing and services r throughout the area - 1 (711 • $130,000 for enhanced Code Compliance services including =v-"` -. additional levels of staffing each week ' , -�.� • $66,000 to cover cost for enhanced level of service and to cover _ .. 4ie»= • sr �Y 7f' solid waste dumping fees and promote additional cleanliness and beautification • $80,000 for a strategic plan to focus short-term efforts and initiatives NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY CRITICAL SUCCESS FACTORS CRITICAL SUCCESS FACTORS CONT'D • Adoption of and adherence to the Redevelopment Plan and • Development of partnerships and opportunities for collaboration other economic development and revitalization strategy plans with local, regional, and national partners for various areas of the North Beach CRA district and the City as a whole • Ability to secure external funding sources including grants • Enhance networking and communication opportunities for the • Ability to network and interact with the business and local community including,but not limited to,residents,property development communities to encourage new and expanding owners, business owners/operators, and visitors to gauge private investment in the area interest in various economic development initiatives, programs, and incentives • Access to local/zip code level market information especially the real estate and job markets • Progress on planned public infrastructure and facility projects • Improved website and data development to ensure a greater • Progress on approved private development projects quantity and selection of detailed information and records are instantly available to the public, site selection consultants, and potential business owners North Beach Development - _ =°^f . » , UVvgO(InWM Approval _ 13111 HT _. r , gf.M0 1f .r �� +I� W AMµ t$ ,� 11�." N60cMM �Pre4mnary • r . .ns.k.0,u t N'" i I:Li 3O 1- Ptyiy J+M ;0040.r o 4 .to lmtlerCano-uction i it low .� 1,! i ., t !-. i6�'- +«apiwxu i • --li•r. Pa2ele _a • - He l IPA' s►e *. r '', e.F '• `I` -_.E___ RI r� ,..anpi , 660K4Wt... t el to.avq 4.a11012,1110 n!.e. ` ;at.,0,,, 104e0 7 0 445.r 1`- r or , w1 M:1 OM 6. w ,a7 w =.,.r r R ._ r r :•v: ., : •. u i,: , ". 4 r`- , © 0 1:t. warm. r,.. j i ' �;. ,� ,� �- . .i it K, .. ;, .. ' 1l St 1 I l 1 r r I NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY FUTURE OUTLOOK FUTURE OUTLOOK CONT'D Economic development and growth opportunities are found The implementation of short-term and immediate redevelopment throughout the Redevelopment Area. Early growth in property strategies should be followed by a critical mass of development values experienced since the 2021 base year suggests that the improvements in key commercial areas which are necessary to North Beach CRA is on track to addressing the arduous conditions accelerate revitalization and signal progress by the North Beach that led to its creation, e.g., blight, deterioration, and economic CRA. These areas include Town Center, Normandy Isles/Rue stagnation. However, redevelopment efforts must be balanced with Vendome Plaza, North Shore, and the West Lots. For successful both aggressive and measured initiatives. The Redevelopment Plan redevelopment to occur in these parts of North Beach, community outlines bold, local approaches that will raise community awareness participation is essential, and the leveraging of available resources of the CRA and invoke visible changewithoutthetremendousfinancial must be optimal. Using the Redevelopment Plan as a guide for expenditure associated with many capital projects. In addition to strategies that preserve and enhance what residents value most in annual preparation of an Operating Budget and Work Plan, the their neighborhoods, the North Beach CRA will work to improve on North Beach CRA will develop a five-year implementation strategy existing elements and create new elements essential for promoting a with corresponding funding projections to help steer planning for the vibrant community. redevelopment program and to provide a clear vision for the future. New development projects, economic revitalization programs, and creative financing for commercial and entrepreneurial endeavors are critical to the pathway forward. f ' ro!111 Ili - f ' [[!!ii I O Ili- Q f.4 .�� y 41i .IJ� MI 11f Rt ii 1 is 72 Park Residences Proposed Rendering NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY FY 2022 FY 2023 FY 2024 FY 2025 Revenues and Other Sources of Income Actual Actual Adopted Proposed Tax Increment-City $ - $ 576,726 $ 1,082,000 $ 1,396,000 Tax Increment-County - 458,187 851,000 1,090,000 Interest Income - 244 - 20,000 TOTAL REVENUES $ - $ 1,035,157 $ 1,933,000 $ 2,506,000 Admin/Operating Expenditures CMB Administration $ - $ 25,954 $ 44,000 $ 112,000 County Admin Fee - 6,873 13,000 17,000 Total Admin/Operating Expenditures $ - $ 32,827 $ 57,000 $ 129,000 Project Expenditures Small Business Development $ - $ - $ 80,000 $ 97,000 Beautification - - 290,000 342,000 Arts&Culture - - 135,000 175,000 Enhanced Services: Community Policing - 100,000 186,000 239,000 Code Compliance - 26,359 100,000 130,000 Community Cleanliness - 13,184 100,000 66,000 Total Project Expenditures $ - $ 139,543 $ 891,000 $ 1,049,000 Reserves,Debt Service and Other Obligations 10%Set-aside for Affordable&Workforce Housing $ • $ - $ 194,000 $ 251,000 Set-aside for Future Projects - - 791,000 1,077,000 Total Reserves,Debt,&Other Obligations $ - $ - $ 985,000 $ 1,328,000 TOTAL EXPENDITURES AND OBLIGATIONS $ - $ 172,370 $ 1,933,000 $ 2,506,000 SURPLUS/(GAP) $ - $ 862,787 $ - $ - - N\ Expenditure Summary $1,200,000 $1,000,000 - $800,000 $600,000 -- $400,000 ;.-- - $200,000 ------ -- $- ' :_. Project Expenditures FY 2023 Actuals a FY 2024 Adopted FY 2025 Proposed