REGULAR BOARD MEETING
AMDNEDED AGENDA
Downtown Development Authority Tuesday, December 20, 2022 8:30 AM 300 Clematis Street, Suite 200 West Palm Beach, FL 33401 https://downtownwpb.com/DDA
Minutes of Regular Board Meeting November 15, 2022
Financial Statements of November 2022
Interest Statement from PNC Trust November 2022
300 Clematis Street, Suite 200, West Palm Beach, FL 33401 Phone: 561.833.8873|Fax: 561.833.5870| www.downtownwpb.com
REGULAR BOARD MEETING
Downtown Development Authority Tuesday, November 15, 2022 at 8:30 AM 300 Clematis Street, Suite 200 West Palm Beach, FL 33401 https://us02web.zoom.us/j/82782563817 Dial: +1 301 715 8592 Webinar ID 827 8256 3817
ATTENDANCE
DDA Board members in attendance: Chairman Rick Reikenis, Cynthia Nalley, Vice Chairman William Jacobson, Varisa Lall Dass, Daryl Houston, Samantha Bratter. DDA Staff in attendance: Raphael Clemente, Vivian Ryland, Jacqueline Smith, Tiffany Faublas, Sherryl Muriente, Teneka James‐Feaman, Sabrina Lolo, Catherine Ast, and Max Lohman, Esq. Guest in attendance: John Webb.
CALL TO ORDER
Chairman Reikenis called the meeting to order at 8:34 a.m.
PUBLIC COMMENTS AND QUESTIONS
None
EXECUTIVE DIRECTOR’S REPORT
None
PRESENTATIONS
John Webb gave a presentation on the proposed rooftop project at 313 Clematis Street. As part of the presentation Mr. Webb requested the DDA’s support for a zoning variance to allow a slight encroachment into the required setback on the street‐facing façade of the building. A motion to approve Mr. Webb’s request for support was made by Cynthia Nalley, Varisa Lall Dass seconded the motion. Motion passed unanimously.
CONSENT CALENDAR
Minutes of October 18, 2022 Regular Board Meeting
Financial Statements as of October 31, 2022
Motion to approve the consent items was made by Daryl Houston, Varisa Lal Dass seconded the motion. Motion passed unanimously.
300 Clematis Street, Suite 200, West Palm Beach, FL 33401 Phone: 561.833.8873|Fax: 561.833.5870| www.downtownwpb.com
OLD BUSINESS (Action Required)
Teneka James gave a presentation on the Downtown Incentives. Motion was made to hold off on the business facades, business incentives, complete three case studies and base incentives on the recommendations from the studies. Samantha Bratter made the motion, seconded by Varisa Lall Dass. Motion passed unanimously.
NEW BUSINESS (Action Required)
• Vivian Ryland presented the budget amendment for the Fiscal year 2022. Bill Jacobson made the motion to approve, seconded by Varisa Lall Dass. Motion passed unanimously.
• Raphael Clemente gave a presentation on marijuana dispensaries in the Downtown District and the real and percieved impact they are having on the community. Board discussion ensued, with the suggestion to request a moratorium on any new approvals for dispensaries within the Downtown Master Plan Area. Motion was made by Daryl Houston, seconded by Varisa Lall Dass to give DDA staff direction to use resources and proactively work with the City to establish additional policies and regulations for dispensaries. Motion passed unanimously.
• Setback variance 313 Clematis Street
ANNOUNCEMENTS/QUESTIONS
The DDA staff will host a Board Member Holiday Brunch that will take place immediately after the December 20th board meeting. The DNA will host a Holiday event at the AKA West Palm Hotel on December 14th 6pm‐8pm.
ADJOURNMENT‐ Meeting adjourned at 9:59am. Samantha Bratter made the motion, seconded by Varisa Lall Dass. Motion passed unanimously.
300 Clematis Street, Suite 200, West Palm Beach, FL 33401 Phone: 561.833.8873|Fax: 561.833.5870| www.downtownwpb.com
West Palm Beach Downtown Development Authority Balance Sheet
November 30, 2022
ASSETS
Current Assets
PNC Bank Operating 584,041
Valley National Bank - MMA 160,360
PNC Investment Management Acct 2,505,130 Petty Cash 50 Interest Income Receivable 11
Total Current Assets 3,249,592
Other Assets
Lease Security Deposit 23,000
Total Other Assets 23,000
Total Assets 3,272,592
LIABILITIES AND FUND BALANCE
Current Liabilities
Due to Lincoln National (241) Vision Premium Payable 31
Flexible Spending Withholding (755) -1250 (1) -261839
Total Current Liabilities (966)
Fund Balance 3,601,875 Net Income (328,412)
Total Fund Balance 3,273,463
Total Liabilities and Fund Balance 3,272,497
West Palm Beach Downtown Development Authority
Statement of Revenues And Expenditures
November 30, 2022
Trolley
Gross Annual Budget Work Plan Services Marketing Security Incentives Month Year-to-Date Budget % Y-T-D Y-T-D Y-T-D Y-T-D Y-T-D
Current Year Revenues - Schedule 1 682,793 687,871 6,366,707 10.8% 687,871 0 0 0 0
Expenditures
Business Development - Schedule 2 11,855 15,570 693,987 2.2% 15,570 0
Public Realm Maintenance - Schedule 3 219,131 368,313 2,120,700 17.4% 368,313
Marketing/Public Relations- Schedule 4 109,257 120,224 1,580,000 7.6% 0 120,224
Neighborhood Services - Schedule 5 163,817 237,991 2,160,000 11.0% 5,898 174,318 57,775
General Office - Schedule 6 6,665 10,560 69,760 15.1% 10,560
Operations - Schedule 7 3,046 4,749 31,328 15.2% 4,749
Professional Services - Schedule 8 12,254 16,290 200,000 8.1% 16,290
Total Personnel Expense 80,136 158,327 1,045,000 15.2% 158,327
Insurance Expense 0 44,407 40,000 111.0% 44,407
Rent Expense 12,239 35,555 200,000 17.8% 35,555 Tax Collection 0 4,299 20,000 21.5% 4,299
Travel and Training 0 0 16,000 0.0% 0 Reserves 0 0 716,873 0.0%
Total Expenditures 618,400 1,016,285 8,893,648 11.4% 663,968 174,318 120,224 57,775 0
Current Year Surplus (Deficit) 64,393 (328,414) (2,526,941) 23,903 (174,318) (120,224) (57,775) 0
DDA Carryforward 2,047 3,297 99,487 3.3% 3,297 0 0 0 0
CRA Carryforward 373,384 635,223 2,427,454 26.2% 378,727 100,000 98,721 57,775 0
Total Carry Forwards 375,431 638,520 2,526,941 25.3% 382,024 100,000 98,721 57,775 0
Net Total Surplus (Deficit) 439,824 310,106 0 405,927 (74,318) (21,503) 0 0
No CPA provides any assurance on these financial statements.
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Supplemental Schedules
November 30, 2022
SCHEDULE 1 - CURRENT YEAR REVENUES
Gross Trolley Annual Budget Work Plan Services Marketing Security Incentives
Month Year-to-Date Budget % Y-T-D Y-T-D Y-T-D Y-T-D Y-T-D Tax Revenues 663,059 663,059 2,945,187 22.5% 663,059
Current Year Revenues
TIF 0 0 (2,763,173) 0.0% 0
Rosemary Square MOU 0 0 135,000 0.0% 0
DDA/CRA Interlocal 0 0 5,768,493 0.0% 0
CRA Project Funding 0 0 280,700 0.0% 0
Interest Income 436 939 500 187.8% 939 Dividend Income 0 0 0 0.0% 0
Gain or (Loss) on Investments 19,238 22,525 0 0.0% 22,525
Virgin Trains USA Ticket Sales 0 0 0 0.0% 0 Sponsorships 0 0 0 0.0% 0
Fees and Services 0 0 0 0.0% 0
Grants and Contributions 0 1,288 0 0.0% 1,288 Total Reimbursements 0 0 0 0.0% 0
Other Miscellaneous Income 0 0 0 0.0% 0
Gain (Loss) on Sale of Assets 60 60 0 0.0% 60 0
Total Current Year Revenues 682,793 687,871 6,366,707 10.8% 687,871 0 0 0 0
No CPA provides any assurance on these financial statements.
West Palm Beach Downtown Development Authority
Supplemental Schedules
November 30, 2022
SCHEDULE 2 - BUSINESS DEVELOPMENT
Gross
Trolley Annual Budget Work Plan Services Marketing Security Incentives
Month Year-to-Date Budget % Y-T-D Y-T-D Y-T-D Y-T-D Y-T-D
Property and Buss Incentives 0 0 200,000 0.0% 0 Facade Improvements 150 150 160,000 0.1% 150 Leasing/Brokers Meeting 1,745 1,745 30,000 5.8% 1,745
Total Business Training and Support 6,250 6,500 177,987 3.7% 6,500 Business Partnerships 3,710 7,175 106,000 6.8% 7,175 Grand Open/New Business 0 0 20,000 0.0% 0
Total Business Development 11,855 15,570 693,987 2.2% 15,570 0 0 0 0
SCHEDULE 3 - PUBLIC REALM MAINTENANCE
Pressure Washing/Street Clean 46,000 82,100 610,000 13.5% 82,100 Clean Team 29,478 58,956 541,300 10.9% 58,956
Graffitti Maintenance 2,000 3,000 20,000 15.0% 3,000 Landscape Maintenance 67,221 67,221 559,400 12.0% 67,221 Holiday Lights 74,432 157,036 175,000 89.7% 157,036 Signage & Pedestrial Wayfinding 0 0 40,000 0.0% 0
Capital Projects/Alleys 0 0 175,000 0.0% 0
Total Physical Environment 219,131 368,313 2,120,700 17.4% 368,313 0 0 0 0
No CPA provides any assurance on these financial statements.
West Palm Beach Downtown Development Authority
Supplemental Schedules
November 30, 2022
SCHEDULE 4 - MARKETING/PR
Trolley Annual Budget Work Plan Services Marketing Security Incentives Month Year-to-Date Budget % Y-T-D Y-T-D Y-T-D Y-T-D Y-T-D
Gross
Survey 0 0 0 0.0% 0
Collateral Materials 18,525 23,318 150,000 15.5% 23,318 PR/Marketing 2,621 2,621 225,000 1.2% 2,621 Retail Promotion 3,890 3,890 80,000 4.9% 3,890
Value Added Events 0 6,765 150,000 4.5% 6,765 Advertising and Promotion 66,876 68,185 500,000 13.6% 68,185 Marketing Programs 0 600 150,000 0.4% 600 Community & Cultural Promotion 17,345 14,845 325,000 4.6% 14,845
Total Marketing/PR 109,257 120,224 1,580,000 7.6% 0 0 120,224 0 0
SCHEDULE 5 -NEIGHBORHOOD SERVICES
Homeless Outreach 0 0 150,000 0.0% 0 Transportation 104,301 174,318 975,000 17.9% 174,318 Security and Policing 57,775 57,775 780,000 7.4% 57,775
Public Space Programs 212 212 155,000 0.1% 212 Community Engagement 1,529 1,879 37,000 5.1% 1,879 Residential Programming 0 3,807 63,000 6.0% 3,807
Total Res. Services/Quality of Life 163,817 237,991 2,160,000 11.0% 5,898 174,318 0 57,775 0
No CPA provides any assurance on these financial statements.
West Palm Beach Downtown Development Authority
Supplemental Schedules
November 30, 2022
SCHEDULE 6 - GENERAL OFFICE
Gross
Trolley Annual Budget Work Plan Services Marketing Security Incentives
Month Year-to-Date Budget % Y-T-D Y-T-D Y-T-D Y-T-D Y-T-D
General Office Expense - Other 2,308 2,769 40,000 6.9% 2,769 Investment Expenses 0 2,246 0 0.0% General Postage 245 263 4,760 5.5% 263
Equipment, Computers, Programs 4,112 5,282 25,000 21.1% 5,282
Total General Office 6,665 10,560 69,760 15.1% 8,314 0 0 0 0
SCHEDULE
7 - OPERATIONS
Dues 1,571 2,821 6,000 47.0% 2,821 Hospitality 476 476 9,500 5.0% 476 Board Meeting 238 291 5,500 5.3% 291 Publications 0 0 328 0.0% 0 Telephone Expense 761 1,161 10,000 11.6% 1,161
Total Operations 3,046 4,749 31,328 15.2% 4,749 0 0 0 0
No CPA provides any assurance on these financial statements.
West Palm Beach Downtown Development Authority
Supplemental Schedules
November 30, 2022
Gross
Trolley
Annual Budget Work Plan Services Marketing Security Incentives
Month Year-to-Date Budget % Y-T-D Y-T-D Y-T-D Y-T-D Y-T-D
SCHEDULE 8 - PROFESSIONAL SERVICES
Accounting 2,500 2,500 30,000 8.3% 2,500
Professional Service 4,138 8,174 60,000 13.6% 8,174 Audit 0 0 25,000 0.0% 0
Studies and Surveys 4,500 4,500 55,000 8.2% 4,500
Legal 1,116 1,116 30,000 3.7% 1,116
Total Professional Services 12,254 16,290 200,000 8.1% 16,290 0 0 0 0
Some rounding error may occur.
No CPA provides any assurance on these financial statements.
