Approval of the Amendment to Resolution No. R26-02 Adopting the CRA Amended Budget for Fiscal Year 2026-2027

This item presents the CRA’s Fiscal Year 2026-2027 Amended Budget for Board approval and adoption. The purpose is to approve the Amended Budget to the original Adopted CRA Budget following approval of the City of Boynton Beach’s millage rate reduction from 7.4257 to 7.2052. This rate change impacted Total CRA Revenue by approximately $0.5M. In addition, there was a slight change in previously assessed values that impacted the County’s contribution by approximately $6K; the County millage rate remains unchanged at 4.5000.

Total Revenues for the Amended Budget are $29,860,161, down from the Original Adopted Budget of $30,367,228, representing a decline of ($507,067) in revenue due primarily to the reduction of the City’s millage rate. New Tax Increment Revenue (TIR) is $26,052,161 versus the original TIR of $26,559,228. The County millage remains unchanged at 4.5000, while the City millage decreases from 7.4257 to 7.2052. Tax Assessed Values remained relatively unchanged at $2,676,319,716.

The revenue reduction will be offset by a corresponding reduction in previously budgeted Marina Sea Wall (-500k) and Placemaking Initiative ($-6k) expenditures in order to maintain a balanced budget.

Upon approval by the CRA Board, the Fiscal Year 2026-2027 Amended Budget will be forwarded to the Boynton Beach City Commission for ratification and adoption, anticipated to occur at their November 5, 2026 meeting.

Adoption of the CRA's Fiscal Year 2026-2027 Amended Budget has not fiscal impact other than what was identified in the millage rate reduction.

2026 Boynton Beach Community Redevelopment Plan

Approve the Amendment to Resolution No. R26-02 adopting the Boynton Beach Community Redevelopment Agency’s Fiscal Year 2026-2027 Amended Budget, subject to ratification by the Boynton Beach City Commission at their meeting to be held on November 5, 2026.