CRA Annual Report FY 2021-2022

Below is an online version of the Annual Report.  To download a pdf of the actual report, click the link at the bottom of the page.

LAKE CLARKE SHORES

COMMUNITY REDEVELOPMENT AGENCY

ANNUAL REPORT

2021/2022

For the fiscal year ending September 30, 2022

THE LCS CRA

EXECUTIVE SUMMARY

This report covers the operation of the Lake Clarke Shores (LCS) Community Redevelopment Agency (CRA) beginning October 1, 2021 and concluding September 30, 2022.

During this reporting period the Town received $30,860 in revenue from Palm Beach County for the CRA. The Town contributed $40,530, for a total of $71,390. The initial assessment was established by the Property Appraiser at $24,686,639.

THE MISSION

To optimize the future value of property within the Community Redevelopment Area by creating a prioritized strategy for redevelopment, including investing in capital infrastructure that will support the CRA and improvements desired by the Town and the residents of the community.

POWER OF THE CRA

The CRA continues to improve the area surrounding Forest Hill Boulevard. The CRA is guided by efforts of the Town Council (serving as the CRA Board of Commissioners) to revitalize the commercial corridor. The CRA receives no state or town general fund dollars. It is funded by rising property values within its borders.

When the CRA was established, property tax amounts paid on the properties within the CRA were frozen. As the CRA improves the area and property values increase, all property tax revenue over the frozen amount are used to fund the CRA. The CRA, which is seven years old, is significantly improving the town. Growth in the CRA outpaces growth elsewhere. Incentives and other programs help attract or expand businesses. The CRA is open for business, and open to business.

NEW BUSINESSES

• Theraphy with Nichole LLC,  1825 Forest Hill Blvd #103, Clinical Social Worker
• Prime HealthCare Center, 1495 Forest Hill Blvd #A3, Doctors Offices
• ABA Therapy of Palm Beach LLC, 1800 Forest Hill Blvd #102, Therapist
• Rechant Coins & Precious Metals, 1825 Forest Hill Blvd #102, Retail coins, metals, etc
• Rescue Impact, Inc, 1495 Forest Hill Blvd #119, Home Health Care Agency
• Robinson Realty & Property Management, Inc, 1850 Forest Hill Blvd #204, Property Management
• Home Safe, 1825 Forest Hill Blvd #101, Mental Health
• Lilac Beauty Spa LLC, 1800 Forest Hill Blvd #B6, Massage Therapy/Facials
• Royal Home Care Agency, Inc, 1495 Forest Hill Blvd #C1, Home Health Care Agency
• Travel Jimempire & Services LLC, 1521 Forest Hill Blvd #B1, Travel agency

EXPANDED BUSINESSES

The following businesses expanded within the CRA in 2021/2022:

• The Grantham Law Firm, 1860 Forest Hill Blvd #105, Attorney
• FEC Exchange Services LLC, 1860 Forest Hill Blvd #105, Admin Office
• New Health Chiropractic & Wellness Center, 1501 Forest Hill Blvd #103, Chiropractor
• Dr. Finley Medical Center, Inc, 1840 Forest Hill Blvd #200, Doctors Offices

BACKGROUND

The Town of Lake Clarke Shores, established in 1957, is a full- service municipality located in central Palm Beach County (PBC). The Town is situated on both sides of Forest Hill Boulevard, which is a primary commercial corridor and contains some of the oldest building stock in the community. The Florida Community Redevelopment Act provides for redevelopment in defined areas that suffer from blight and disinvestment. The Act also allows for coastal and tourist areas to be included if they are, among other things, deteriorated or have outdated building density patterns.

The Town of Lake Clarke Shores Community Redevelopment Agency (CRA) area is generally located west of I-95 on both sides of Forest Hill Boulevard, extending from roughly Interstate 95 to Florida Mango Road. Highlights in the Area include:

• A total of 53.4 acres or 8% of the Town of Lake Clarke Shores total land area of 667.3acres.
• Approximately 32% of the Town’s multi-family residential property and 100% of the commercial property is located within the CRA. The CRA is almost entirely built-out, with no free-standing vacant parcels available for redevelopment.

Palm Beach County completed the “Heart of Palm Beach County” Joint City/County Economic Opportunities Analysis. This study, which focused on the seven municipalities in Palm Beach County District 3, Lake Clarke Shores, Atlantis, BoyntonBeach, Greenacres, Lake Worth, Lantana, and Palm Springs, was initiated by concerns regarding economic development impediments in this central area of the county. Following months of analysis and facilitated discussions, the study identified a significant lack of investment and declining property values throughout the area, including dilapidated commercial corridors like Forest Hill Boulevard. These conclusions helped highlight the need for a CRA to be established in the Town of Lake Clarke Shores. The creation of the Lake Clarke Shores CRA was consistent with the priorities identified in this County-led study and implements the study’s recommendations.

LOCATION, LEADERSHIP & LEGISLATION

The CRA Board

The Town Council sits as the Board of Directors of the LCS CRA established by Resolution. The Mayor is the Chair of the Board and the Vice-Mayor is the Vice-Chair. The initial Board of Commissioners consisted of Robert M. W. Shalhoub, Chair; Thomas C Mayes, Jr., Vice-Chair, Malcolm Lewis, Gregory Freebold, and Valentin Rodriguez, Jr, Commissioners.

Board of Commissioners

Paul R. Shalhoub, Chair

Robert M. W. Shalhoub, Vice-Chair

Gregory Freebold, Commissioner

Valentin Rodriguez, Jr, Commissioner

Robert O. Gonzalez, Commissioner

Meetings Held & Actions Taken

The following 2021/2022 activities were performed by the Lake Clarke Shores Community Redevelopment Agency Board of Commissioners:

• November 9, 2021 – approved Resolution 2020-04 adopting the 2022 CRA meeting schedule.
• March 1, 2022 - Mr. Clark presented the 2021/2022 CRA Annual Report, which was approved by the CRA Board of Commissioners.
• July 12, 2022 – Presented Proposed Budget for 2022/2023 Fiscal Year to CRA Board Members.
• September 6, 2022 - approved Resolution 2022-01 submitting the 2022/2023 Fiscal Year budget to the Town of Lake Clarke Shores Town Council for adoption on September 27, 2022.

MEETINGS & ACTIONS

MEETINGS HELD & ACTIONS TAKEN

The following 2022/2023 activities were performed by the Lake Clarke Shores Community Redevelopment Agency Board of Commissioners:

• November 15, 2022 – approved Resolution 2022-02 adopting the 2023 CRA meeting schedule.
• February 28, 2023 - Staff presented the 2022/2023 CRA Annual Report, which was approved by the CRA Board of Commissioners.
• July 11, 2023 – Joseph F. Lo Bello, CPA, Executive Director presented Proposed Budget for 2023/2024 Fiscal Year to CRA Board Members.
• September 12, 2023 - approved Resolution 2023-01 submitting the 2023/2024 Fiscal Year budget to the Town of Lake Clarke Shores Town Council for adoption on September 27, 2023.

BUDGET

Revenues and Expenditures for the fiscal year ending September 30, 2022 (Unaudited)

ESTIMATED REVENUE

Taxes - PBC TIF - $30,860

Taxes - Town TIF - $40,530

Interest income - $610

Other Misc. revenue - $0

TOTAL - $72,000

APPROPRIATED EXPENDITURES

Consulting Financial Professional - $3,000

Legal - $5,000

Redevelopment Advocacy Prgm - $15,000

Business Development Incentive Program - $45,000

Books, Dues, Education - $4,000

TOTAL - $72,000

NEXT YEAR

Anticipated actions in 2022/2023:

We continue having discussions with property owners about more new businesses coming to the CRA.

We will maintain our existing programs for Infrastructure Reimbursement and Beautification.

Staff is proposing a Redevelopment Incentive Program which will include developing a CRA specific development code allowing for changes to density, height, and land use within the limited commercial zoning areas.

In addition, Community Park will be developing two new Pickle Ball Courts enhancing our neighborhood and CRA amenities.

TOWN OF LAKE CLARKE SHORES

COMMUNITY REDEVELOPMENT AGENCY

1701 Barbados Road, Lake Clarke Shores, Florida 33406