CRA What is it and how can it help me? What defines a CRA AreaWhat defines a CRA Area and how was it formed? CRA Goals and ObjectivesCRA Goals and Objectives How is the CRA funded?How is the CRA funded? History of Tax Increment FinancingHistory of Tax Increment Financing Current CRA ProgramsCurrent CRA Programs What is Affordability?What is Affordability? Small Business TrainingSmall Business Training

What defines a Community Redevelopment Area (CRA) and how was it formed? CRA Boundaries I-95 to NE 14 Ave (East/West) Pembroke Rd to County Line Rd (North/South)

What defines a Community Redevelopment Area (CRA) and how was it formed? Broward County Commission accepted the CRA Plan in November 1996 City Commission voted to establish Trust Fund in December of 1996

CRA Goals & Objectives The Community Redevelopment Agency Plan sets three goals and objectives: Continue to maintain and enhance it’s current projects Implement projects and programs addressing targeted needs Conduct business in accordance with Florida Statutes, City Ordinance, and the CRA Plan.

How is the CRA Funded? The practice of TIF is conceptually simple: an area that has been blighted or is otherwise in need of an economic boost is designated as a CRA. The taxable value of the CRA is then frozen to the value it was on the day of the declaration. The frozen value is usually called the base. All jurisdictions that had taxing authority over the TIF district still have taxing authority over the base. As the district develops, the incremental value of taxes that would have been collected by all of the taxing authorities is retained by the city to carry out the goals of the CRA Plan. This new value is generally called the increment. Who contributes to TIF? Broward County General Fund – 95% City General Fund – 95% Hospital District Children Services Council

History of Tax Increment Financing 1997: $246, : $646, : $886, : $1,200, : $1,606, : $2,186, : $3,255, : $4,461, : $5,827, : $9,390, : $9,959,814

CRA Programs Affordable Housing Neighborhood Improvement Program Business Incentive/Enticement Commercial Code Compliance Façade Improvement Storm Shutter Emergency Assistance Free Paint Youth Assistance Housing Emergency Sidewalk Repairs DPW Community Sod Replacement DPW Cash for Trash DPW Adopt-A-Street DPW Hepburn ext 1460 Public ext 1600 Public ext 1618 Public ext 1608 Please contact the extensions below regarding the related program:

Housing First Time Home Buyers Program An applicant, depending on income, can receive between $25,000 and $35,000 to contribute to the purchase of a home An additional $5,000 is available for Public Service Employees Income requirements are based on Broward County median income levels

Broward County Median Income Your annual income must be equal or less than the following current income limits (amended from time to time by Broward County): Family Size80% Area Median120% Area Median 1$39,850$59,760 2$45,550$68,400 3$51,250$76,920 4$56,950$85,440 5$61,500$92,280 6$66,050$99,120 7$70,600$105,960 8$75,150$112,800 80% and below qualify for $35, % and below qualify for $25,000

What is Affordability in Hallandale Beach? Median family income = $35, % of the median = $42,600 Housing affordability = $142,000 With a City contribution of $25,000 Targeted price should be between $167,000 and $175,000 Monthly payments ($167,000) = $1,316/month (Principal + Interest) + Taxes + Insurance = Monthly Payments  $997 + $169 + $150 = $1,316 The median income in Hallandale Beach is $35,500 Assuming family income of $35,500 the housing affordability gap is $54,600 *The last 9 closings averaged $182,00 for SFH and $143,000 for condos.

Neighborhood Improvement Program Single families (5 units or less) $6,500 for parking, landscaping and general repair $4,000 for roof repair/replacement $1,500 exterior cleaning and painting $5,000 for on-site drainage Up to $18,500 is available You pay back 60% of the loan over 10 years with zero interest - 40% grant $1,500 Supplemental (100% payback) $ Application Fee Multi-Family (6 or more dwellings) $10,000 for parking, landscaping and general repair $4,000 for roof repair/replacement $2,500 exterior cleaning and painting $5,000 for on-site drainage Up to $24,000 is available You pay back 60% of the loan over 10 years with zero interest - 40% grant $2,500 Supplemental (100% payback) $ Application Fee

Business Incentive/ Enticement Program A business can receive up to $200,000 to build or expand their office. 15% is a grant and the rest is payable over a 10 year period at 4% interest Focus is on job creation Application Fee of $750

Small Business Training Small Business Workshop ScheduleOne-on-One Business Analyst Would you like to have a FREE one-on-one business counseling session with a Business Analyst to help you improve your business’ bottom line? The City of Hallandale Beach has partnered with the City of Hollywood and FAU to sponsor FREE one-on-one business counseling sessions with a Business Analyst to promote business success. During each private session, the participant will be able to discuss any issue impacting their business. All current and potential business owners are encouraged to take advantage of this opportunity. An appointment must be scheduled to meet with the Business Analyst. July 10, 2008 July 17, 2008 August 14, 2008 For additional information or to schedule an appointment, contact the Department of Business & Economic Development at , Monday through Friday 8:00 am—5:00 pm. 10:00 am — 5:00 pm Hollywood Branch Library 2600 Hollywood Blvd. August 21, 2008 September 11, 2008 September 18, 2008 Workshop Discussion DateLocation Marketing Your Service Business 7/10/2008Hollywood Branch Library Successful Event Planning for Small Business 8/7/2008Hallandale Beach Cultural Center Get Some Press!9/11/2008Hollywood Branch Library Human Resources10/9/2008Hallandale Beach Cultural Center Basics of Import/Export 11/13/2008Hollywood Branch Library Tax Tips12/11/2008Hallandale Beach Cultural Center The City of Hallandale Beach has partnered with the City of Hollywood and FAU to sponsor the following workshops : To register to attend the training or to obtain additional information, contact the CRA Department at:

Commercial Code Compliance Loan Programs A business can receive up to $100,000 to repair code violations on an existing commercial property 15% is a grant The rest is payable in 10 years at a 4% interest rate Application fee is $750 A business can receive up to $75,000 to repair code violations on an existing commercial property on Foster Rd 50% of the first $15,000 is a grant The remaining 50% is paid at 0% interest The rest is payable in 10 years at a 4% interest rate Application fee is $750 General Code Compliance LoanFoster Rd Code Compliance Loan

Façade Improvement Program A business can receive up to $50,000 in loans to repair the exterior of a commercial property even if there are no code deficiencies 15% is a grant the rest is payable over 10 years at 4% interest Application fee is $125

Hurricane Shutters Program Homeowner can receive up to $5,000 for installation of shutters $1,500 is a grant. The remaining $3,500 is payable at 4% interest Loan is payable over 10 years

Questions? Please contact the CRA Department with any additional questions: CRA Manager: Bobby Robinson Community Redevelopment Specialist: Mark Leibowitz