HomeMy WebLinkAboutInv# 151 - SHAWN MITCHELL - 03/21/2022Shawn Mitchell
2299 Rose Walk Drive
Alpharetta, GA 30005
(470) 235-9079 cell
March 21, 2022 shawn.fms@gmail.com
K. Michael Chen, Executive Director
Dania Beach Community Redevelopment Agency
100 W. Dania Beach Boulevard
Dania Beach, FL 33004
Dear Mr. Chen:
Please find attached hereto my invoice for services rendered pursuant to the
review, analysis, and updating of CRA Annual Reporting data sets (including
State Reporting guidelines) for the Dania Beach Community Redevelopment
Agency
I have included the following documentation:
• Invoice
• Deliverable
Thank you for allowing me the opportunity to work with your organization and
please let me know if any additional information is needed.
Sincerely,
Shawn Mitchell
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Tax-Base The following table provides a summary of historical taxable property values and incremental property values for the CRA as of January 1st of each year. While this report generally pertains to FY 2021 activity, the following section also includes FY 2022 property valuation data to highlight current trends. The CRA experienced positive tax base gains in FY 2022 due to strong growth in the residential, commercial, and industrial market segments (25%, 9% and 5% growth respectively).
TAXABLE PROPERTY VALUES
A B =A-B
TAX ROLL
YEAR
FISCAL
YEAR TAXABLE VALUE
% CHANGE
OVER
PRIOR YEAR
BASE YEAR
TAXABLE VALUE
INCREMENTAL
TAXABLE VALUE
% CHANGE
OVER
PRIOR YEAR 2021 2022 1,235,867,510 14.1% 555,988,910 679,878,600 29.0% 2020 2021 1,083,147,040 6.4% 555,988,910 527,158,130 14.2% 2019 2020 1,017,542,200 21.1% 555,988,910 461,553,290 62.4% 2018 2019 840,265,840 10.5% 555,988,910 284,276,934 39.1% 2017 2018 760,320,310 15.6% 555,988,910 204,331,400 100.9% 2016 2017 657,675,940 8.5% 555,988,910 101,687,030 102.7% 2015 2016 606,167,390 7.9% 555,988,910 50,178,480 735.6% 2014 2015 561,994,300 8.0% 555,988,910 6,005,390 116.8% 2013 2014 520,192,680 2.8% 555,988,910 (35,796,230) 28.3% 2012 2013 506,048,220 (3.1%) 555,988,910 (49,940,690) (48.7%)
Taxable Values by Use Type The segmentation of taxable values within the CRA highlights a diversified tax-base consisting of Commercial, Residential, and Industrial use properties representing 49%, 37%, and 13% of taxable value respectively.
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A balanced and diversified tax-base helps insulate the CRA from value declines occurring in particular market segments. The diversification has remained relatively stable for the ten-year period ending with FY 2022.
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Taxpayer Concentration An important analysis to consider when discussing property values pertains to taxpayer concentration, or more specifically, the percentage of total tax increment generated from the CRA’s principal taxpayers. Taxpayer concentration is a measure of revenue risk for the CRA. A low taxpayer concentration indicates a diverse base of taxpayers and a stronger ability to adapt to the loss of any one taxpayer.
PRINCIPAL TAXPAYERS
TAXPAYER PROPERTY USE FY 2022 TAXABLE
VALUE
% OF FY 2022
TAXABLE VALUE DANIA LIVE 1748 II LLC COMMERCIAL; RESIDENTIAL 125,321,710 10.1% DANIA LIVE 1748 LLC COMMERCIAL 83,555,700 6.8% DANIA ENTERTAINMENT CENTER COMMERCIAL; RESIDENTIAL 56,894,760 4.6% DAWSON JOHNSON OPERATIONS LLC RESIDENTIAL 34,011,830 2.8% BROWARD INTERNATIONAL COMMERCE COMMERCIAL; INDUSTRIAL 28,485,370 2.3% BRE POLYGON PROPERTY OWNER LLC COMMERCIAL 27,547,560 2.2% STIRLING INDUSTRIAL PARK INDUSTRIAL 25,824,070 2.1% S3 HOSPITALITY MIAMI LLC COMMERCIAL 20,603,560 1.7% ROBERT D DERECKTOR & CO COMMERCIAL 19,701,120 1.6% RK DANIA LLC COMMERCIAL 14,022,850 1.1% DANIA AIRPORT HOTELS LLC COMMERCIAL 13,003,740 1.1% TOTAL 448,972,270 36.4%
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Performance Data The following section provides performance data in accordance with F.S. §163.371 as of September 30, 2021 (most recent data available).
• F.S.§163.371
Total number of activities started and completed and the estimated cost for each activity;
Total expenditures from the Redevelopment Agency Trust Fund;
Original assessed real property values within the boundaries of the CRA as of the creation date (base year);
Total assessed real property values of property within the boundaries of the CRA as of January 1 of the reporting year;
Total amount expended for affordable housing for low-income and middle-income residents; and
A summary indicating Redevelopment Plan achivements. Within the framework of this data, the redevelopment activities are categorized by achievement.
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Community Engagement
CRA Plan (Section 9)
9.1, 9.2, 9.3, 9.4, 9.5
9.1, 9.4, 9.5
Identical to Local Governing Authority
Yes
The following is a summary of this community redevelopment agency's achievement of its redevelopment
plan's goals.
679,878,600.00$
Total amount expended for low and middle income affordable housing -$
Current Year Tax Increment Value
Current Year Taxable Value in CRA 1,235,867,510.00$
1
Revenue
Actual expended from Redevelopment Trust Fund
Local Governing Authority
Date Created / Established
Creation Documents
Tuesday, June 25, 2002
City Ordinance 2002-032
(954) 924-6801
(954) 921-2604
mchen@daniabeachfl.gov
Base Year Taxable Value in CRA
Telephone
Fax
Email
Website
County(ies)
www.DaniaBeachCRA.org
Broward
Total number of Activities started and/or ongoing
Board Selection
Authority to Issue Bonds
City of Dania Beach
Municipality Contributions
Dania Beach Community Redevelopment Agency
Florida Department of Economic Opportunity Special District Accountability Program ID
Mailing Address
Office Address
1827
Mr. K. Michael Chen
100 West Dania Beach Boulevard Dania Beach, FL 33004
100 West Dania Beach Boulevard
Registered Agent
1,555,862.00$
555,988,910.00$
ACHIEVEMENT
Economic Development
Monday, January 11, 2021
7
Total number of Activities completed
Most Recent Update
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Financial Statements The CRA Annual Report for the fiscal year ending September 30, 2021, has been prepared in accordance with F.S.§163.371 and 163.387(8).
• F.S.§163.371 This Annual Report has been prepared in accordance with F.S. §163.371 including a financial statement setting forth its income/expenses.
• F.S.§163.387(8) The Financial Statements included herein are sourced from the Annual Comprehensive Financial Report (“Financial Report”) for the fiscal year ending September 30, 2021. The Financial Report is under its annual independent audit review and will be issued within State mandated timelines. Once issued, copies can be obtained electronically from the website: http://www.daniabeachcra.org/about-us/plans
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DBCRA (both Areas)
Taxroll Year 2021
Taxbase Statistics
Owner 1**
Residential 461,012,750 37.3%2,294 74.2%399 33.3%PUBLIC LAND 78 6.5%- 0.0%
Commercial 598,542,760 48.4%357 11.6%364 30.4%DANIA LIVE 1748 II LLC 59 4.9%125,321,710 10.1%
Industrial 164,622,780 13.3%168 5.4%102 8.5%CITY OF DANIA BEACH 49 4.1%749,160 0.1%
Institutional 7,053,760 0.6%48 1.6%50 4.2%DANIA ENTERTAINMENT CENTER 49 4.1%56,894,760 4.6%
Miscellaneous 4,629,000 0.4%192 6.2%198 16.5%BROWARD COUNTY 40 3.4%- 0.0%
Governmental 6,460 0.0%31 1.0%86 7.1%SOUTH FLORIDA WATER MANAGEMENT 38 3.1%- 0.0%
1,235,867,510 100.0%3,090 100.0%1,198 100.0%DANIA LIVE 1748 LLC 33 2.8%83,555,700 6.8%
FLORIDA POWER & LIGHT CO 32 2.7%4,404,600 0.4%
BROWARD INTERNATIONAL COMMERCE 25 2.1%28,485,370 2.3%
FLORIDA EAST COAST RAILWAY LLC 24 2.0%- 0.0%
SCHOOL BOARD OF BROWARD COUNTY 17 1.4%- 0.0%
Single-Family 176,167,110 38.2%1,266 55.2%205 51.4%ROBERT D DERECKTOR & CO 16 1.3%19,701,120 1.6%
Multi-Family 258,559,540 56.1%652 28.4%137 34.4%PARK OCEAN LLC 14 1.2%2,612,690 0.2%
Condo 7,929,370 1.7%92 4.0%1 0.1%STIRLING INDUSTRIAL PARK 12 1.0%25,824,070 2.1%
Vacant 12,864,880 2.8%190 8.3%52 13.1%SEABOARD WAREHOUSE TERMINALS 10 0.9%1,810,510 0.1%
Other 5,491,850 1.2%94 4.1%4 1.0%760 TAYLOR LANE LLC 10 0.9%9,941,770 0.8%
461,012,750 100.0%2,294 100.0%399 100.0%CITY OF FORT LAUDERDALE 10 0.8%- 0.0%
SORMI INC 9 0.8%7,851,210 0.6%
PALM BEACH POLO HOLDINGS INC 9 0.7%8,966,000 0.7%
AMERICAN MARITIME OFFICERS 9 0.7%5,927,260 0.5%
543 45.4%382,045,930 30.9%
Retail 220,358,130 36.8%78 21.8%121 33.2%
Mixed-Use 19,749,650 3.3%27 7.6%8 2.2%
Office/Business 43,809,050 7.3%50 14.0%25 6.9%
Restaurants 12,938,230 2.2%20 5.6%8 2.2%
Entertainment 60,220,800 10.1%5 1.4%37 10.2%
Hotel/Motel 113,602,970 19.0%24 6.7%16 4.4%
Airport 68,181,440 11.4%14 3.9%66 18.1%
Vacant 41,507,780 6.9%85 23.8%54 14.8%Owner 1**
Other 18,174,710 3.0%54 15.1%29 8.0%DANIA LIVE 1748 II LLC Total 59 4.9%125,321,710 10.1%
598,542,760 100.0%357 100.0%364 100.0%DANIA LIVE 1748 LLC Total 33 2.8%83,555,700 6.8%
DANIA ENTERTAINMENT CENTER Total 49 4.1%56,894,760 4.6%
DAWSON JOHNSON OPERATIONS LLC Total 2 0.2%34,011,830 2.8%
BROWARD INTERNATIONAL COMMERCE Total 25 2.1%28,485,370 2.3%
BRE POLYGON PROPERTY OWNER LLC Total 2 0.1%27,547,560 2.2%
Manufacturing 3,978,140 2.4%4 2.4%6 6.2%STIRLING INDUSTRIAL PARK Total 12 1.0%25,824,070 2.1%
Warehouse 156,372,170 95.0%137 81.5%78 77.1%S3 HOSPITALITY MIAMI LLC Total 1 0.1%20,603,560 1.7%
Open Storage 1,579,950 1.0%11 6.5%4 4.4%ROBERT D DERECKTOR & CO Total 16 1.3%19,701,120 1.6%
Vacant 2,692,520 1.6%16 9.5%13 12.3%RK DANIA LLC Total 9 0.7%14,022,850 1.1%
164,622,780 100.0%168 100.0%102 100.0%DANIA AIRPORT HOTELS LLC Total 1 0.1%13,003,740 1.1%
MIRANJALI LLC Total 1 0.1%12,088,730 1.0%
JSF STIRLING ROAD EX LLC Total 1 0.1%11,399,790 0.9%
DANIA BEACH HOSPITALITY Total 1 0.1%10,887,690 0.9%
760 TAYLOR LANE LLC Total 10 0.9%9,941,770 0.8%
PALM BEACH POLO HOLDINGS INC Total 9 0.7%8,966,000 0.7%
LUCKEYS MOTEL INC Total 0 0.0%8,238,700 0.7%
G6 HOSPITALITY PROPERTY LLC Total 4 0.3%8,051,980 0.7%
SORMI INC Total 9 0.8%7,851,210 0.6%
MAD PROPERTY HOLDINGS LLC Total 3 0.2%7,668,600 0.6%
247 20.6%534,066,740 43.2%
Taxbase Composition (Industrial)
Taxable Value (2021)# of Parcels Acreage
** Sorted by NAME1 field from County file. Please Note: there are slight variations in owner name that make it hard to know
for sure if they are separate entities or just a variation of County data input.
Top-20 Sorted by Taxable Value (2021)
Land Area
(Acres)
% of Total
Acreage
Taxable Value
(2021)
% of Total Taxable
Value (2021)
Taxbase Composition (Residential)
Taxable Value (2021)# of Parcels Acreage
Taxbase Composition (Commercial)
Taxable Value (2021)# of Parcels Acreage
Taxbase Composition (Rollup)Top-20 Sorted by Acreage
Land Area
(Acres)
% of Total
Acreage
Taxable Value
(2021)
% of Total Taxable
Value (2021)Taxable Value (2021)# of Parcels Acreage
1,468, 64%
826, 36%
% of Homesteaded Residential Properties
No HX HX
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