Good afternoon and welcome to the downtown special assessment public caring for the City of Boca Raton. It is Monday, September 9th of 2024. The time is 2.08 pm or first item of business is the Pledge of Allegiance. We'll have one, please rise and join in. I pledge allegiance to the flag of the United States of America and to the Republic for which it stands one nation under God Indivisible with liberty and justice for all Missed and smooth. Please call the roll mayor singer here deputy mayor drucker here councilmember necklace here councilmember Thompson Thank for being here councilmember wickter still here all president Councilmember Naclas? Here. Councilmember Thompson? Thank you. Councilmember Wichter. Still here. All present. Thank you. Today's public hearing is for us to consider Resolution 85 2024, which I will now ask Miss Siddons to please read. Resolution number 85 2024. A resolution of the City of Boca Raton equalizing the assessments, loving the same assessments against benefited properties within the downtown special assessment district, City of Boca Raton equalizing the assessments, loving the same assessments against benefited properties within the downtown special assessment district, City of Boca Raton, Florida, directing the City Clerk to record assessments in the improvement lean book, establishing priority of lean and payment of principle and interest, providing for severability, providing for appeal or providing an effective date. Thank you, Mr. Brown. Thank you, Mayor. Stephen Timberlake, Special Project financial services department will make the presentation on the downtown special assessment. Thank you Mr. Timberlake. Good afternoon. Thank you. Mr. Brown may our members of council. Before you is the adoption of the downtown special assessment for 2025. The city council first adopted the special assessment methodology so that downtown property owners would pay for certain infrastructure projects that specifically benefit those properties. The special assessment is required to fund the debt service and administrative cost for the special assessment revenue bonds. The downtown special assessment covers the downtown area also the CRA area boundaries. The purpose of this meeting is to hear and consider any and all complaints as to the special assessments. Recommendations will be made concerning adjustments and equalization of the special assessment and the total special assessment amounts will not change regardless of what is decided, only the pro-rata share for each parcel was available for adjustment. So this resolution 85, 2024 equalizes and adopts a special assessment for the downtown for 2025. The 2025 special assessment is calculated based on the latest certified tax role, which is the 2023 role from the Palm Beach County Propriet Prazer's Office. The 2025 special assessment, role details the market value, the special benefit and the installment amount due for each property on or before January 1st of 2025. To calculate our payment, we take the required bond payment, divided by the total downtown market value equals our assessment rate. So the assessment rate for 2025 is .00106, which is an 8.3 reduction from our 24 rate. The rate decreased again as property value is continued to increase within the downtown, going up nearly 220 million for the year, 22 compared to 23. So what does that mean? Our historical assessment rates have dropped significantly from when the program began. Our 25 number is there on the very low at the end. Correspondingly, the value of the benefit properties is increased, which is the beneficiary for everyone. So what does that mean? For your average 2025 assessment, the market value of $300,000 a year assessment would be 32 versus compared to 35 of last year. We've received no objection letters this year as we haven't in several years. So our recommendation is to prove this resolution as it stands equalizing and adopting the special assessment rates for downtown for 2425. And I would be happy to answer any questions. Thank you, Mr. Termalay. Council members, any questions? Seeing none, Mr. Mayor. Mr. Mayor. Public hearing. I do have one car. Mr. Mayor, sorry. I didn't see that. Very good. Sorry. When will the downtown special assessment be terminated pursuant to its terms? So the final bond payment is June of 2030, so the last one will be 2030. We'll do it. So you've got five more after this one. And obviously we saw the amount has been paid down significantly. It must be 87 or 90% from its original. Yeah, the original was three or four different bonds. They were refinanced several times. Currently there is one bond left. And that final payment is June of 2030. Is there any financial benefit to the city and the taxpayers if the bonds were to be paid off early? I don't believe you can due to the bond covenants. Very good. Just checking. Thank you. Thanks very much. No further questions? I better look this time alright thank you we'll now open up the public hearing. I'll invite first Mr. Eddie Weinstein to come forward please give your name and address in the over the three minutes welcome your excellency. Good afternoon my name is Eddie Weinstein I live at 500 southeast my shoulder of our town's in place. My name is Eddie Weinstein. I live at 500 Southeast Mysterblvard Townsend Place. I've lived in the city for approximately 30 years and I do love this city. I'm a city guy originally from Washington DC. I live in Georgetown for a lot of years. I enjoy walking to places and I just have no objection of assessing anybody to improve things in the city. I want to state that right now. But I'm here perhaps to heighten your awareness of a few things. One of the biggest problems we have in the city is parking. Some of the responsibilities fall to the feet of developers. We allow developers to build multi-million dollar condos for people paying a million, two, three, five, seven million for an apartment. And those apartments only have 1.75, I think that's the number, parking spaces for apartments. So anybody here think someone who spends $5 million for apartment has 1.75 cars or if they do they have a maid everyday They have workmen coming the building has a lot of employees that they need to find parking and They need to find it on the property So one of the problems, not the only problem, is getting the developers to add more parking spaces on their property site. So that reduces the amount of people parking elsewhere as we have now. Another thing that will help parking and we know there was some discussion about parking meters. Well, we put maybe a hundred parking meters or more on the area that is bordering from federal to Dixie and going north to south from Palmetta, Camino. On those side streets, on any given day, no more than 70 percent or I should say 30% of the spaces are being used, but people are avoiding those spaces because for whatever reason they're not parking. I've driven that snake around there many times. I don't know, we don't need parking. We want people to come into the city and find a place to park and they don't want to pay for it perhaps whatever their reasons but it's convenient for them to park on these side streets we're not getting a lot of money from from the meters so that's something to be considered. We need clarification on what benefits people like me have from this assessment. I can well afford it and most of the people in Taza place. It's not that But we're having problems we've had for many years. And I think part of the problem is the city has done many surveys, studies, example, they did a study years ago about putting shade trees am I out of town? Time? You've been over. Well, yeah, as bit if you'll please, I'll give you a little extra hobby if you please conclude we'll answer your question. Thank you. Well, example, shade trees are needed, so people will walk in comfort instead of driving. People in towns and plays drive across the street. Two reasons, there's no speed limit on Minds and Boulevard. There's practically no enforcement whatsoever. J-walking is rampant in the city. You all see J-walkers all over the city. We don't have enough crosswalks. And they're not well marked. I'll end this and not trying to be a big complainer, but there's a lot of moving parks to this that have to be considered. If I'm going to be benefit by living near Meijler Park, I want to go there. Well, thank you for your time. Thank you, Mr. Weinstein. Anyone else wishing to speak on this matter? Mr. Anjane? Jonathan Anjane, 65-01 Congress Avenue. So I took a look at the report for what some downtown property owners are being assessed and looked at some of the property values. One being, I believe it was the mark. And the mark, when I looked at on the property appraiser, was paying based on a market value assessment of I believe it was $82 million. And understanding this part of town, which is not nearly as profitable as the downtown, I've seen similar units that are units per acre or properties that again I got to imagine 209 units at 80 million dollars. I don't think that's what the mark is going for. So I think that some of these numbers that are going into this assessment are inaccurate in terms of their contribution, which would then bring down the numbers for the individual property owners versus these big conglomerates that have not fair market values for their properties. For instance, when you look at a 10 year of their tax and what the market values were for I believe it was the mark it's almost stagnant from where it was 10 years ago still the same market value. I'm sure they got people that fight pretty hard to keep that number down for tax purposes that they don't give this city it's fair share. But my office building that's 60,000 square feet, I'm about 50% more in taxes from where I was 10 years ago in terms of my market value. I went from about $150,000 to now $240,000 a year in taxes. So looking comparatively as a residential market, I believe, has done even better than commercial. I just have questions for the people that are affected by this, whether these large multi-family units that especially are rentals and not ownership, whether they're being assessed at a fair share. So just maybe something to look at. And I know you can say that's probably based on the tax appraisers office and everything else that you may say as to what the market value is, but obviously this city has a financial stake and basis for many levels beyond just this assessment in terms of its tax proportionality that it gives to the city to operate and it's based on that number. And I think that the city should be fighting for its fair share. Thank you. Anyone else wishing to speak? Last call for public comment on resolution 852024. And then second half for one question. Sorry, Mr. Weinstein. But we're going to try to respond to at least one of the questions you asked and some more, which we'll do now because public comment is closed and I'll turn to Mr. Brown. Could you share with everyone's benefit that really the origin of this, the fact that what your, what the residents are seeing is largely already unfolded and more about some of this particular concerns because the shade trees, crosswalks, we're constantly working on those. The initial downtown special assessment was put in place for what was called Visions 90, which was a major infrastructure project in the downtown. Those who were here at the time will remember that downtown Boca Raton was dug up for three years while we improved drainage and the rest of the infrastructure in the downtown to promote redevelopment that has since occurred. So the money that is being paid off at this point was for bonds that were floated at that time based upon revenue coming in, a special assessment, to cover the costs of the Vision's 90 project, which included the creation of Miserable of Art as it is today, among other things. It was a two-lane golf you drive before it became M sir Bollard. So those were the improvements that were made back in the 90s, the early 90s. As far as shade trees, that is part of what we're looking at as part of our mobility and connectivity throughout the downtown. You're gonna be many areas that will be improved in that way over time. It's not something we can just go in and impose at one time. And as we talked about a little bit earlier, Mr. Weissing, we're looking at the parking meters and the whole parking system. The purpose of it is to promote turnover in the spaces so that people don't just go park, you know, someone who works in a shop goes in parks in front of the shop all day and the shop doesn't have convenient outside parking. The parking code is the parking code that we have. The formulas are based upon national standards and some of the newer condominiums are actually adding more parking than is required by code we have seen. I think that covers most of the issues and in terms of crosswalks those are also part of the mobility enhancements we're looking at. So they're all on our radar. Thank you and Mr. Ron it wasn't just the special the special assessment the improvements that were made in the early 90s weren't the only ones that came as a result of the special assessment they'd been improved we've had improvements throughout the year. Yes that's correct, we've had improvements throughout the year. Yes, that's correct. We've done other improvements over the years. Those that were funded initially as well as things that we have funded subsequently. Right. For example, you all were recall that we had turn lanes at Meister Boulevard and Palmetto Park Road. They were removed and then they were replaced based upon the traffic needs. And is these downtown special assessment of the fact that owners have been paying for all those years in this particular area perhaps one of the different reasons why there may have been more infrastructure improvements in this part of the city than others because other taxpayers are not so assessed. That is correct. It's a special assessment for a benefited area and the improvements that were paid for that occurred in that area Okay any other questions then we'll entertain a motion to adopt resolution 85 2024 Thank you motion and by Ms. Nagel second by mr. Wigger any further discussion Just one more question mr. Brown. I think I just want to highlight it a weird some concerns of mr. Weinstein other than what we heard today We did not receive any letters back from any of the correct. All right, great. Or the comments. No objections received. All right, well thank you. There's no further discussion. Then miss it, please. Trucker? Yes, necklace? Yes. Thompson? Yes. Wickeder? Yes. Singer. Yes motion passes five votes to zero. Thank you. That concludes the matters on the downtown special assessment Public hearing in a moment we will adjourn and then we will resume for our regularly scheduled city council workshop We are adjourned from this session at 226