MEMO

To: Rick Reikenis, Chairman

William Jacobson, Vice Chairman

Samantha Bratter

Varisa Lall Dass

Daryl Houston

Cynthia Nalley

Bob Sanders

From: Vivian Ryland, Director of Administration

RE: Preliminary Budget Discussion FY 2024

Date: June 20, 2023

On June 1st the Palm Beach County Property Appraiser notified the DDA of the district’s estimated FY 2024 taxable value of $3,622,597,256, which includes new construction estimated at $62,941,525. This represents an increase of 14.5% over FY 2023’s taxable value of $3,163,465,735.

The FY 2024 budget process will be affected by significant changes to core programs, and by increased demand for services and programs that the DDA provides. Part of this process will include making the necessary amendments to the interlocal agreement between the DDA, City and CRA to reflect these changes.

Some of the changes proposed for the ILA which will affect the DDA budget are:

• Removal of references to the trolley because of discontinuation of the program at the end of May

• The request from the City for DDA funding to support the newly launched Ride West Palm Beach transportation system, covering downtown and the northwest neighborhood. Although, there has been no formal request for funding or an amount, staff has budgeted $975,000 which was last year’s budget line item.

• Reallocation of funding from Homelessness Services to create a Homeless Relief Fund, which could be used flexibly to provide solutions in partnership with the Police Department, City, and non-profit partners This could include temporary shelter, transportation back to family or guardians, or other expenses that will help homeless people move from the public space to treatment and shelter

• Increase reimbursable landscape expenses under the ILA by 2.5% to align with the DDA’s landscape contract.

• Increase reimbursable cleaning expenses under the ILA by 3% to align with the DDA’s cleaning contract.

• Budget for the management and/or participation in the design and activation of the Visitor Center and Waterfront.

• Hardscape repairs and reconfiguration.