Page 14 - annual report

FINANCIALS A REPORT

FROM THE TREASURER DESCRIPTION AMOUNT DESCRIPTION AMOUNT

The Downtown Development Authority’s Financial AD VALOREM TAX $1,048,205 ECONOMIC VITALITY, $777,326
Statement of revenues and expenditures for fiscal $82,573 PLACEMAKING,
year 2018-2019, which ran from October 1, 2018 SPONSORSHIPS $252 POSITION MARKETING $434,099
through September 30, 2019, are shown here. INTEREST $23,250 $3,500
EARNINGS GENERAL OPERATING
The DDA team continued to promote, strengthen MISCELLANEOUS
and support all the businesses and stakeholders CAPITAL OUTLAY
in the DDA district. Our efforts for the three areas
of responsibility — Economic Vitality, Placemaking TOTAL REVENUE $1,154,280 TOTAL EXPENDITURES $1,209,925
and Position Marketing have proven to continue
to be successful. We hope that you find this For a complete copy of the Audited
2018– 2019 Annual Report of our progress to be Financial Report, contact the City of Delray
informative. Please contact the DDA team with any Beach or the DDA. Caler, Donten, Levine,
questions or comments. Cohen, Porter & Veil, P.A.

Mark Denkler –DDA Auditor
Owner, Vince Canning Shoes and Tootsie’s
Treasurer, Downtown Development Authority

DISTRICT VALUE GROWTH

1200 DID YOU KNOW?

1000 The DDA is funded through an Ad Valorem tax
levied on all property within the DDA District
800 by the Palm Beach County Tax Appraiser. The
current tax rate is 1MIL (.001) on each dollar
600 2015 2016 2017 2018 2019 of the tax base.

The purpose of the tax is to reinvest the funds
back into the District through operations,
economic vitality, placemaking and position
marketing programs.

District Value Growth for 2019 was $1,048,205, an increase of 59% since 2015.

14 Annual Report | 2018–2019