CRA Annual Report - 2024-2025

CRA (2024-25) ANNUAL REPORT DAYTONABEACH.GOV/REDEVELOPMENT

2024-25 CRA Annual Report | A | Return to Table of Contents

TABLE OF CONTENTS

DaytonaBeach.gov/Redevelopment

MESSAGE FROM MAYOR DERRICK L. HENRY Community Redevelopment Areas (CRAs) are one of the most important tools we have to reinvest in Daytona Beach’s neighborhoods and commercial corridors. By law, every additional dollar of property tax value generated in a CRA must stay in the same area as it was generated. In Daytona Beach, our five CRAs – Ballough Road, Downtown, Main Street, Midtown and South Atlantic – together cover less than 4% of the city’s land area, yet they are our most promising opportunities for economic development. Our CRAs exist for one reason: to create places where people want to live, work, invest and visit. The careful stewardship of tax-increment funds is part of a long-term strategy to strengthen Daytona Beach’s economic foundation while honoring its history and culture. I am proud of the progress we have made together and

grateful to my peers on the CRA Board, our staff team, residents and our many community partners for their tireless work. We are investing in projects that position our CRAs for future growth. At the same time, targeted grants from hurricane recovery assistance for residents and small businesses to ongoing facade, landscape and commercial improvement programs are helping property owners upgrade buildings, preserve historic structures and bring new life to our commercial corridors. The Redevelopment and Neighborhood Services team, led by Director Ken Thomas, is committed to progress and has been intentional about addressing concerns and moving projects forward. We will continue to use every resource available to attract quality investment, support local businesses, expand housing opportunities and enhance quality of life in each of our redevelopment areas. Thank you for your continued support and belief in the future of world-famous Daytona Beach.

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The City of Daytona Beach’s Community Redevelopment Agency (CRA) plays a key role in advancing revitalization efforts within designated redevelopment areas. The CRA Board, composed of the City Commission, works collaboratively to fund, implement and oversee projects that enhance quality of life and support economic development. Zone 1 Commissioner Monica Paris Zone 2 Commissioner Ken Strickland Zone 3 Commissioner Quanita May Zone 4 Commissioner Stacy Cantu Zone 5 Commissioner Dannette Henry Zone 6 Commissioner Paula R. Reed MEET THE CRA BOARD Members of the CRA Board Include: Mayor Derrick L. Henry

The board meets regularly to review budgets, approve projects and guide the implementation of redevelopment plans across Daytona Beach’s five Community Redevelopment Areas.

Citizens and staff are encouraged to stay informed and engaged. CRA meeting agendas, minutes and livestreams are available online. DaytonaBeach.gov/Agendas

DaytonaBeach.gov/Redevelopment

The City of Daytona Beach City Commission serves as the Community Redevelopment Agency (CRA). The CRA is responsible for approving the annual CRA budget, funding redevelopment projects and programs and overseeing the implementation of the five adopted Redevelopment Plans. The CRA meets monthly and may call special meetings or workshops as needed to carry out its responsibilities. All meetings are held in the City Commission Chambers at City Hall. CRA MISSION & GOALS

Board Listing

Staff Listing

Downtown & Ballough Rd. Redevelopment: Meet first Tues. of each month Pete Zahn (Chair), John Kamchan (Vice Chair),

Deric C. Feacher City Manager 386-671-8010

Sheryl Cook, Javier Benavente, Scott Lawson and Mark Karet

Ken Thomas, MPA, FRA-RA Director of Redevelopment & Neighborhood Services 386-671-8188 Michele Toliver, FRA-RA Redevelopment Project Manager 386-671-8185 Angela Armstrong, FRA-RA Redevelopment Project Manager 386-671-8196

Beachside Redevelopment: Includes Main & S. Atlantic Meet second Wed. of each month

Amy Pyle (Chair), Gary Koliopulos (Vice Chair), Tom Caffrey, Timothy Kostidakis, William Bittorf, Helen Humphreys, Laura Murphy and Vernon Weatherholtz (Ex-Officio)

Midtown Redevelopment Meet second Tues. of each month

Eddie Lake (Chair), Lynn Thompson (Vice Chair), Tangela Brown Hardy, Cathy Washington (Ex- Officio), Davita Bonner, Joan Sheppard and Renee Richardson

Phebe Fuqua, FRA-RA Redevelopment Project Manager 386-671-8127

Jessica Rodriguez Office Specialist III 386-671-8124

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Redevelopment A CRA

Ballough Ro Downtown Main Street Midtown Re South Atlan

VERMONT AV

GOODALL ST

BRADDOCK AV

REVILO BLVD

RIBAULT AV

CR 4050 (SILVER BEACH AV)

BOSTWICK AV

HILLSIDE AV

OCEAN DUNES RD

DUNDEE RD

Miles

TENNY DR

Redevelopment Areas CRA

5 CRAs REVILO BLVD VERMONT AV BRADDOCK AV GOODALL ST VERMONT AV

Ballough Road Redevelopment Area Downtown Redevelopment Area Main Street Redevelopment Area Midtown Redevelopment Area South Atlantic Redevelopment Area

RIBAULT AV

CR 4050 (SILVER BEACH AV)

BOSTWICK AV

HILLSIDE AV

REDEVELOPMENT AREA

The City of Daytona Beach includes five designated Community Redevelopment Agency Areas (CRAs). The boundaries of each CRA were established through a Finding of Blight study and are outlined in a Community Redevelopment Plan approved by the City Commission. These plans detail the specific redevelopment goals, policies and objectives for each area, as well as the projects and programs intended to drive revitalization.

Revenue generated from increases in property values within each CRA is reinvested directly back into projects and programs within the same area.

The City of Daytona Beach covers approximately 44,507 acres, with the combined total of the five CRAs accounting for 1,755 acres—less than 4% of the city’s total area.

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Redevelopment Areas CRA

5 CRAs REVILO BLVD VERMONT AV BRADDOCK AV GOODALL ST VERMONT AV

Ballough Road Redevelopment Area Downtown Redevelopment Area Main Street Redevelopment Area Midtown Redevelopment Area South Atlantic Redevelopment Area

RIBAULT AV

CR 4050 (SILVER BEACH AV)

BOSTWICK AV

HILLSIDE AV

The BALLOUGH ROAD REDEVELOPMENT AREA is located on the mainland, between Second Street and Fairview Avenue, between Riverside Drive and the Intercoastal Waterway, as indicated on the following map in blue.

OCEAN DUNES RD

Redevelopment Plan: Amended August 4, 2010

The DOWNTOWN REDEVELOPMENT AREA is located on the mainland, between the railroad tracks and the Intercoastal Waterway, between Fairview Avenue and South Street, as indicated on the following map in red: DUNDEE RD TENNY DR 1 inch = 2.27 miles

Daytona These

Beach

Map

Disc

maps an produced by the City of Daytona Beach They are provided for reference o and are not intended to show map s accuracy or all inclusive map featu were developed As indicated, the accuracy of the m has not been verified and it should used for informational purposes on Any possible discrepancies should brought to the attention of City Engine and or Development Services. Projection: GCS_North_American_1983. Map Produced by James R. Benderson, Principal P

20Miles

Redevelopment Plan: Amended August 4, 2010

DaytonaBeach.gov/Redevelopment

The MAIN STREET REDEVELOPMENT AREA is located on the beachside, between the Atlantic Ocean and the Intercoastal Waterway, between Oakridge Boulevard and International Speedway Boulevard, as indicated on the provided map.

Redevelopment Plan: Amended February 15, 2012

The MIDTOWN REDEVELOPMENT AREA is located on the mainland, between the railroad tracks on the east and extending to the west as far as Frederick Avenue to the west, between a little north of George W. Engram Boulevard to Shady Place, as indicated on the provided map in green.

Redevelopment Plan: Amended December 19, 2012

The SOUTH ATLANTIC REDEVELOPMENT AREA is located on the beachside, between International Speedway on the north, extending slightly south of Silver Beach Avenue to the south. It primarily runs along the Atlantic Ocean, as indicated on the provided map in orange.

Redevelopment Plan: Amended December 18, 2013

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ACCOMPLISHMENTS DOWNTOWN

RIVERFRONT ESPLANADE <<

RIVERFRONT ESPLANADE (Ongoing) Location: Riverfront, Downtown Daytona Beach

What began as a community vision rooted in memory has become a reality with the grand opening of the Riverfront Esplanade. Re-imagined through the leadership and generosity of J. Hyatt and Cici Brown—alongside strong support from the City of Daytona Beach and its residents—the transformation was celebrated through a series of opening events that marked the official debut of the Esplanade’s southern section. Stretching from Main Street to Orange Avenue, the 22.5-acre linear park offers a wide variety of amenities and experiences. Visitors can relax in nature, enjoy riverfront views, or get active on the soft, blue-cushioned trail that runs the length of the park along the Halifax River. The southern portion, between International Speedway Boulevard and Orange Avenue, features an elaborate splash pad, botanical gardens—including a rose garden—a restroom facility, sculpted ponds with color-changing fountains and a venue lawn designed for community events.

Total Project Cost: $35,000,000 CRA Funds Allocated: $800,000, Annually (2019-2024) CRA Funds Allocated: $1.2 Million, Annually (2025)

STREETSCAPE ENHANCEMENTS (2020–2025) Location: Beach Street & ISB Gateway Streetscape improvements included widened

sidewalks, brick crosswalks, ADA accessibility upgrades, landscaping, benches, lighting enhancements and corridor beautification along Beach Street, South Beach Street and the ISB Downtown Gateway. These upgrades enhanced pedestrian safety, accessibility and the overall aesthetic of the Downtown CRA area.

CRA Funds Allocated: $20,000.00 (2020) $13,826.97 (2021) $180,327.30 (2022) $113,731.76 (2023) $225,937.05 (2024) $238,959.96 (2025)

STREETSCAPE ENHANCEMENT <<

FRAMEWORK LUXURY APARTMENTS Housing & Neighborhood Revitalization Projects Location: 400 S. Beach Street Construction of Class-A residential units will increase population density and economic activity in the Downtown CRA. Located on the Halifax River in the heart of downtown Daytona Beach, residents will enjoy sweeping water views and walkability to shops and restaurants—all only a short walk or bike ride to the world-famous Daytona Beach. This 6-story development has been designed to maximize views and provide abundant light to every unit. 400 Beach is currently under construction.

FRAMEWORK LUXURY APARTMENTS <<

CRA Incentives: Funded through Downtown CRA housing initiatives $7.5 Million

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HOLIDAY ACTIVATION & PUBLIC PLAZAS (Annual) Location: Beach Street

CRA investments funded Christmas lights, tree-lighting ceremonies, fireworks and the activation of public plazas for pop-up markets, seasonal events and vendor opportunities, enhancing community engagement and dissemination of information.

CRA Contribution: Approximately $10,000 (Annually)

ORANGE AVE. TRAIL (SUN TRAIL / SWEETHEART TRAIL) (2019-2024) Location: Downtown Daytona Beach Supporting bicycle and pedestrian connectivity. CRA Funds Allocated: $22,276.75 (2019) $27,048.11 (2020) $11,598.21 (2021) $844.93 (2023) $1,570.07 (2024) ACCENT DAYTONA – DELTA WEST Housing & Neighborhood Revitalization Projects Location: Former Baptist Church Site This downtown development includes 310 total units, with 50 designated as workforce housing for persons at 120% of the area’s median income. The project also includes commercial spaces, landscaping and pedestrian improvements to support mixed-income housing and downtown population growth.

HOLIDAY ACTIVATION DOWNTOWN <<

CRA Incentives: 80% of TIF until 2036. CRA Funds Allocated:

ACCENT DAYTONA - DELTA WEST <<

DaytonaBeach.gov/Redevelopment

ACCOMPLISHMENTS MAIN STREET

MAIN STREET COQUINA ARCH RESTORATION <<

MAIN STREET COQUINA ARCH RESTORATION (Completed 2025) Location: Main Street, Daytona Beach The Daytona Beach Main Street Coquina Arch, an iconic landmark linking the boardwalk and pier since 1936, has been restored. Built as part of the Works Progress Administration, the arch underwent restoration after city staff identified significant structural issues, including cracking and deterioration of steel and concrete that led to the closure of surrounding pedestrian areas. The city partnered with engineering firm Graef-USA Inc. to develop a repair and preservation plan. Crews repaired the damage, replaced deteriorated materials and installed new stonework to match the original design. The project was completed this summer, preserving the arch’s historic character while strengthening its structure and bringing new life to one of Daytona Beach’s most recognizable landmarks.

CRA Contribution: $785,622.69 $104,979.75 (2024) | $680,642.94 (2025)

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LAND ACQUISITION (2021-2025) Location: Main Street Redevelopment Area

Under Florida’s Community Redevelopment Act, the CRA is authorized to acquire property within the Main Street Redevelopment Area for public improvements, sites for public facilities, elimination of unsafe conditions, removal of non-conforming uses and facilitation of private investment. 29 South Ocean | 210 N. Peninsula Dr. | Corbin Building, 777 Main St.

CRA Expenditure: $2,186,350.48 $6,095.40 (2021) | $3,130,208.38 (2022) $865,526.19 (2023) | $2,186,350.48 (2025)

LAND ACQUISITION CORBIN BUILDING<<

SENOR FROG’S BUILDOUT <<

SENOR FROG’S BUILD OUT CONTRIBUTION (Ongoing) Location: Main Street, Daytona Beach

The city negotiated a 50-year lease with Senor Frog’s, including a $500,000 buildout contribution. Half is payable 30 days after permits are secured; the remaining half 30 days after the Certificate of Occupancy. The city will replenish the Main Street CRA fund over five years following opening.

CRA Allocation: $500,000 (2024)

DaytonaBeach.gov/Redevelopment

BOARDWALK EXTENSION TO HARVEY DESIGN Location: Breakers Park to Harvey Avenue

The city approved design, permitting, bidding assistance and construction administration for a 295- foot extension of the boardwalk and seawall from Breakers Park south to Harvey Avenue, including survey, geotechnical investigations, environmental assessments and technical specifications.

CRA Expenditure: $170,237.50

MAIN STREET STREETSCAPE DESIGN (Completed 2025) Location: Peninsula Drive to the beach The streetscape project developed illustrative cross- sections of the streetscape reflecting various design and cost options for future construction.

CRA Expenditure: $59,100

146 & 148 S. GRANDVIEW (FY2024–2025) Location: 146 & 148 S. Grandview Avenue Roofing, windows replacement, exterior painting, fascia and gutters, railings, mold remediation, interior cleaning, concrete stairs, termite fumigation and other property improvements.

MAIN STREET STREETSCAPE <<

CRA Expenditure: $34,811.50

EAST ISB STREETSCAPE (2022,2023,2025) This safety and beautification project, led by FDOT, upgraded eight blocks of roadway between Halifax and Atlantic avenues. The city completed the undergrounding of power and secondary power conversions as part of the corridor improvements.

CRA Contribution: $102,612.70 $52,911.10 (2022) | $44,758.44 (2023) $4,943.16 (2025)

PROPERTY IMPROVEMENT <<

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MAIN STREET HOLIDAY LIGHTING AND DECORATIONS (Annual) Location: Main Street, Halifax to Ocean Avenue Approximately 80 palm trees are wrapped with Christmas lights each year. CRA Expenditure: $30,720 (Christmas lights) $7,152 (yearly improvements)

MAIN STREET HOLIDAY LIGHTING & DECOR <<

BOARDWALK AMUSEMENT OVERHEAD SIGN (Completed 2024) Location: Main Street Boardwalk Installation of new acrylic letter faces to replace missing or damaged letters due to hurricane damage.

CRA Expenditure: $2,340

ACCOMPLISHMENTS SOUTH ATLANTIC LAND ACQUISITION Under Florida’s Community Redevelopment Act, redevelopment agencies may acquire property within designated areas to support public improvements, provide sites for public facilities, eliminate unsafe conditions, remove nonconforming uses and encourage private investment.

CRA investment: $263,933

DaytonaBeach.gov/Redevelopment

ACCOMPLISHMENTS MIDTOWN LAND ACQUISITION (2023-2025)

Under Florida’s Community Redevelopment Act, the CRA is authorized to acquire property within the Midtown Redevelopment Area for public improvements, sites for public facilities, elimination of unsafe conditions, removal of non-conforming uses and facilitation of private investment. Locations: 558 W. ISB | 562 W. ISB | 551, 543 Dr. MLK Blvd. and Four Vacant Lots | 125 & 127 N. Helme Place | 537, 539 & 540 Dr. MMB Blvd | Walnut Street Vacant Lots 537 Dr. MLK Blvd, Vacant Lot | 133 N. Helme Place, Vacant Lot | 875, 877 Dr. MMB Blvd, 236 Desoto St and 2 Vacant Lots | 240 Desoto St and One Vacant Lot

NEW MIXED-USE DEVELOPMENT 240 DESOTO ST.

CRA Loan Expenditure: $2,808,197.93 $968,646.43 (2023) $903,023.25 (2024) $936,528.25 (2025)

MIDTOWN SUNDAYZ Daisy Stocking Park, 555 Dr. Mary McLeod Bethune Blvd., serves as a vibrant hub for entertainment and community gatherings in Midtown. The renovated space features a playground, walking areas, pavilions, open green space, and an amphitheater, providing a welcoming environment for residents of all ages. Additional events contributed to activating the park. Through this ongoing programming, CRA Midtown has contributed funds to support activities and events at the park, reinforcing its commitment to enhancing quality of life in the Midtown area. CRA Expenditure: $6,000.00 (2025)

MIDTOWN SUNDAYZ

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FRAMEWORK: VALENCIA SQUARE APARTMENTS Location: 544 Orange Avenue This development includes 62 units, with 50 designated as affordable housing units. Twelve (12) units for household at 80% area median income, and 38 units for household at 120% of the area median income. The project will include landscaping, pedestrian improvements and a park area to support the mixed-income housing development. CRA Incentives: Land Donation and 95% of TIF until 2036 CRA Funds Allocated: CRA Funds Allocated: $955,000

LAND ACQUISITION CORBIN BUILDING<<

DaytonaBeach.gov/Redevelopment

Engagement

CHOICE NEIGHBORHOOD Community engagement efforts for the Midtown revitalization initiative included a design charrette workshop that invited residents and stakeholders to help shape the future of the area. Held at the John H. Dickerson Center, the interactive session focused on gathering input for Caroline Village, Palmetto Park and surrounding neighborhoods.

Participants collaborated in a hands-on environment to develop ideas and build conceptual 3D models, providing valuable insight into community priorities for redevelopment. Feedback from the workshop will help guide planning efforts aimed at creating a more vibrant and connected Midtown. The initiative is supported by a $500,000 federal Choice Neighborhoods Planning Grant awarded by the U.S. Department of Housing and Urban Development. The grant, secured through a partnership between the city and the Housing Authority, will support planning efforts to transform key housing sites and surrounding areas. COMMUNITY MEETINGS • July 22 – 23, 2024: Public Meeting at Dickerson Center – Introduce Choice Neighborhood Grant to the community • September 24,2024: Public Meeting at Dickerson Center – Public Input on housing needs • February 22, 2025: Public Meeting at Dickerson Center – Kick-off for Icons Paving the Way Project • August 8, 2025: Public Meeting at Dickerson Center – Final Presentation to Transform the Housing Authority Properties

CRA Expenditure: $250,000 (2025)

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Grants The City of Daytona Beach continues to support investment and revitalization in its five redevelopment areas—Ballough Road, Downtown, Main Street, Midtown and South Atlantic— through a variety of grant programs for residential and commercial property owners. In 2025, a total of $818,134.74 was allocated to enhance accessibility and support a wider range of projects. AVAILABLE GRANTS / INCENTIVE PROGRAMS INCLUDE: • Commercial Property Improvement & Professional Design Assistance Program: Matching grant for exterior and interior improvements. Business owners may receive up to $50,000, or 80% of project costs. Loans are forgivable after two years. • Lease Subsidy Grant Program: Matching grant to subsidize up to three months of rent for new or expanding businesses, capped at $1,500 per month. • Historic Preservation Grant (Residential/Commercial): Matching grant for improvements to buildings located within designated historic districts. • Upper Floor Residential Grant: Assists property owners in adding upper-story residential units in commercial buildings. • Landscape Improvement Grant: Provides funding for landscaping enhancements along key corridors to improve aesthetics and curb appeal. • Small Project / Commercial & Business Incentive Grant Program: Supports interior and exterior improvements. Existing businesses may receive up to $15,000, while new or expanding businesses can qualify for up to $20,000. • Residential Facade Grant: Matching grant to assist homeowners to improve the exterior of their homestead property.

BEFORE & AFTER RESIDENTIAL GRANTS <<

DaytonaBeach.gov/Redevelopment

Grants FY 2024-25

SOUTH ATLANTIC $30,835.00

DOWNTOWN $426,376.12

MAIN STREET $258,920.58

MIDTOWN $102,003.04

Grants are part of the city’s broader effort to promote economic development, neighborhood beautification and historical preservation.

RESIDENTIAL FENCE

506-508 MAIN STREET - FACADE BEFORE & AFTER <<

140 S. GRANDVIEW - AFTER <<

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FINANCIALS (2024/25)

The finances of the Downtown Redevelopment Area are recorded in a separate fund in the general ledger of the City of Daytona Beach.

REVENUES

The primary revenue of the Downtown Redevelopment District is generated by the portion of property taxes generated by taxable property values above the base level of $ 49,000,577 established when the CRA was created, as generated by the City of Daytona Beach, Volusia County, Halifax Hospital, and the Downtown Development Agency. In FY 2024/25, the CRA’s TIF revenues (excluding the Downtown Development Agency) totaled $2,492,692. The budgeted equivalent TIF revenues for the current year total $ 2,705,484. The TIF revenues generated by the Downtown Development Agency have been transferred back to the Downtown Development Agency. As such, these amounts are not included in the discussion of revenues or expenditures.

DaytonaBeach.gov/Redevelopment

$300

The chart provided indicates the total taxable value, segregated into the base and increment. The base represents the taxable value when the CRA was established in 1982. The district is scheduled to expire in 2036.

$250

$200

Increment Base

$150

$100

$50

FY 2017/18

FY 2018/19

FY 2019/20

FY 2020/21

FY 2021/22

FY 2022/23

FY 2023/24

EXPENDITURES - FUND 130

The expenditures for FY 2024/25 included the following: • $ 238,960 for capital expenditures related to the Beach Street Redevelopment project.

• $ 237,831 for scheduled bond payments. • $ 136,885 for personal services and benefits • $ 2,259,527 for operating expenditure.

The largest operating expenditures were for other contractual services ($1,204,971), capital outlay – leases ($329,820), grant expenditures ($430,276), projects ($50,131), and utilities ($66,704).

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FINANCIALS 2024/25

DaytonaBeach.gov/Redevelopment

REVENUES

The primary revenue of the Main Street Redevelopment District is generated by the portion of property taxes generated by taxable property values above the base level of $ 68,695,639 established when the CRA was created, as generated by the City of Daytona Beach, Volusia County, and Halifax Hospital. In FY 2024/25, the CRA’s TIF revenues totaled $6,323,156. The budgeted equivalent TIF revenues for the current year total $6,707,244. MAINSTREET REVENUES

Main Street Taxable Property Values

0 100,000,000 200,000,000 300,000,000 400,000,000 500,000,000 600,000,000 700,000,000

Increment Base

FY 2018

FY 2019

FY 2020

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

The chart provided indicates the total taxable value, segregated into the base and increment. The base represents the taxable value when the CRA was established in 1981. The district is scheduled to expire in 2036. EXPENDITURES The expenditures for FY 2024/25 included the following: • $2,508,905 for scheduled bond payments • $2,186,350 for land acquisitions • $682,020 for expenditures related to the Main Street Coquina Arch Repair project • $4,943 for East ISB Streetscape • $ 279,269 for personal services and benefits • $ 499,516 for operating expenditures. The largest operating expenditures were for grant expenditures ($239,705), projects ($122,286) information systems internal charges ($ 31,961), other contractual services ($33,599), and maintenance and repair ($15,621). EXPENDITURES – FUND 302 • The Main Street CRA refinanced its existing bonds in 2023, which resulted in an additiona $ 5,155,756 in available funds which are maintained in a separate fund. There is a remaining balance of $2,118,296. No expenses were attributed to this debt in FY 2024/25.

EXPENDITURES The expenditures for FY 2024/25 included the following: • $2,508,905 for scheduled bond payments • $2,186,350 for land acquisitions • $682,020 for expenditures related to the Main Street Coquina Arch Repair project • $4,943 for East ISB Streetscape • $ 279,269 for personal services and benefits • $ 499,516 for operating expenditures. The largest operating expenditures were for grant expenditures ($239,705), projects ($122,286), information systems internal charges ($ 31,961), other contractual services ($33,599), and maintenance and repair ($15,621). EXPENDITURES – FUND 302 • The Main Street CRA refinanced its existing bonds in 2023, which resulted in an additional $ 5,155,756 in available funds which are maintained in a separate fund. There is a remaining balance of $2,118,296. No expenses were attributed to this debt in FY 2024/25.

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FINANCIALS 2024/25

The finances of the Midtown Redevelopment Area are recorded in a separate fund in the general ledger of the City of Daytona Beach.

Redevelopment – Midtown.

Additionally, a recent debt issuance for the area has not been completely expended. The remaining proceeds of this debt issuance are recorded in a separate fund, number 303 in the general ledger.

DaytonaBeach.gov/Redevelopment

REVENUES

The primary revenue of the Midtown Redevelopment District is generated by the portion of property taxes generated by taxable property values above the base level of $ 60,641,706 established when the CRA was created, as generated by the City of Daytona Beach, Volusia County, and Halifax Hospital. In FY 2024/25, the CRA’s TIF revenues totaled $ 1,228,020. The budgeted equivalent TIF revenues for the current year total $ 1,367,508. MIDTOWN REVENUES

Midtown Taxable Property Values

The chart provided indicates the total taxable value, segregated into the base and increment. The base represents the taxable value when the CRA was established in 1997. The district is scheduled to expire in 2036.

0 20,000,000 40,000,000 60,000,000 80,000,000 100,000,000 120,000,000 140,000,000 160,000,000 180,000,000

Increment Base

FY 2018FY 2019FY 2020FY 2021FY 2022FY 2023FY 2024FY 2025

EXPENDITURES

EXPENDITURES The expenditures for FY 2024/25 included the following:

The expenditures for FY 2024/25 included the following: • $ 321,173 for scheduled bond payments. The bonds will be paid off in 2028 and 2036. • $ 157,988 for personal services and benefits • $ 321,477 for operating expenditures. The largest operating expenditures were for grant expenditures ($109,303), projects ($65,286), professional services – other ($84,576), demolitions and condemnations ($18,572) and utilities ($12,123). EXPENDITURES – FUND 303 The expenditures for FY 2024/25 consisted of the following: • The Midtown CRA issued a bond in 2023, which resulted in an additional $6,452,500 available funds which are maintained in a separate fund. There is a remaining balance of $1,196,200. And there were expenditures of $3,510,075 using this debt in Fy 2025 for capital improvements.

• $ 321,173 for scheduled bond payments. The bonds will be paid off in 2028 and 2036. • $ 157,988 for personal services and benefits • $ 321,477 for operating expenditures. The largest operating expenditures were for grant expenditures ($109,303), projects ($65,286), professional services – other ($84,576), demolitions and condemnations ($18,572) and utilities ($12,123). EXPENDITURES – FUND 303 The expenditures for FY 2024/25 consisted of the following: • The Midtown CRA issued a bond in 2023, which resulted in an additional $6,452,500 available funds which are maintained in a separate fund. There is a remaining balance of $1,196,200. And there were expenditures of $3,510,075 using this debt in Fy 2025 for capital improvements.

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FINANCIALS 2024/25

The finances of the South Atlantic Redevelopment Area are recorded in a separate fund in the general ledger of the City of Daytona Beach.

This fund is numbered 134: Redevelopment – South Atlantic.

DaytonaBeach.gov/Redevelopment

REVENUES

The primary revenue of the South Atlantic Redevelopment District is generated by the portion of property taxes generated by taxable property values above the base level of $ 63,521,382 established when the CRA was created, as generated by the City of Daytona Beach, Volusia County, and Halifax Hospital. In FY 2024/25, the CRA’s TIF revenues totaled $515,379. The budgeted equivalent TIF revenues for the current year total $463,932. SOUTH ATLANTIC REVENUES The primary revenue of the South Atlantic Redevelopment District is generated by the portion of property taxes generated by taxable property values above the base level of $ 63,521,382 established when the CRA was created, as generated by the City of Daytona Beach, Volusia County, and Halifax Hospital. In FY 2024/25, the CRA’s TIF revenues totaled $515,379. The budgeted equivalent TIF revenues for the current year total $463,932.

South Atlantic Taxable Property Values

The chart provided indicates the total taxable value, segregated into the base and increment. The base represents the taxable value when the CRA was established in 2000. The district is scheduled to expire in 2036.

120,000,000

100,000,000

80,000,000

Increment Base

60,000,000

40,000,000

20,000,000

FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025

EXPENDITURES - FUND 130 The expenditures for FY 2024/25 included the following:

$263,933 for Lang Acquisition

•

• $ 4,769 for personal services and benefits • $ 48,442 for operating expenditures. The largest of these expenditures were for grant expenditures ($30,835), maintenance and repair ($ 3,775), professional services – other ($7,441) demolitions and condemnations ($6,100).

EXPENDITURES - FUND 130

The expenditures for FY 2024/25 included the following: • $263,933 for Lang Acquisition • $ 4,769 for personal services and benefits • $ 48,442 for operating expenditures.

The largest of these expenditures were for grant expenditures ($30,835), maintenance and repair ($ 3,775), professional services – other ($7,441) demolitions and condemnations ($6,100).

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FINANCIALS (2024/25)

The finances of the Ballough Road Redevelopment Area are recorded in a separate fund in the general ledger of the City of Daytona Beach.

This fund is numbered 132: Redevelopment – Ballough Road.

DaytonaBeach.gov/Redevelopment

REVENUES

The primary revenue of the Ballough Road Redevelopment District is generated by the portion of property taxes generated by taxable property values above the base level of $ 9,086,882 established when the CRA was created, as generated by the City of Daytona Beach, Volusia County, and Halifax Hospital. In FY 2024/25, the CRA’s TIF revenues totaled $286,242. The budgeted equivalent TIF revenues for the current year total $299,652. BALLOUGH ROAD REVENUES The primary revenue of the Ballough Road Redevelopment District is generated by the portion of property taxes generated by taxable property values above the base level of $ 9,086,882 established when the CRA was created, as generated by the City of Daytona Beach, Volusia County, and Halifax Hospital. In FY 2024/25, the CRA’s TIF revenues totaled $$286,242. The budgeted equivalent TIF revenues for the current year total $ $299,652.

Ballough Road Taxable Property Values

The chart provided indicates the total taxable value, segregated into the base and increment. The base represents the taxable value when the CRA was established in 1985. The district is scheduled to expire in 2036.

$40,000,000

$35,000,000

$30,000,000

$25,000,000

Increment Base

$20,000,000

$15,000,000

$10,000,000

$5,000,000

FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025

The chart provided indicates the total taxable value, segregated into the base and increment. The base represents the taxable value when the CRA was established in 1985. The district is

scheduled to expire in 2036. EXPENDITURES – FUND 132 The expenditure for FY 2024/25 included the following:

• $164,141 for personal services and benefits • $49,039 for a developer grant – TIF agreement payment • $24,029 for operating expenditures.

EXPENDITURES - FUND 132

The largest operating expenditures were for professional services ($10,300), information systems internal charges ($6,130), car allowance ($4,650), and employment services internal charges ($545).

The expenditures for FY 2023/24 included the following: • $164,141 for personal services and benefits • $49,039 for a developer grant – TIF agreement payment • $24,029 for operating expenditures.

The largest operating expenditures were for professional services ($10,300), information systems internal charges ($6,130), car allowance ($4,650), and employment services internal charges ($545).

2024-25 CRA Annual Report | 29 | Return to Table of Contents

BUDGETARY NOTES An annual budget is adopted by the Agency’s Board on a basis consistent with U.S. generally accepted accounting principles. All annual appropriations lapse at fiscal year-end; however, valid outstanding encumbrances for contractual performance expected in the next fiscal year are re-appropriated by budget amendment and become a part of the subsequent year’s budget pursuant to state regulations. The City Manager is authorized to transfer all or part of an unencumbered balance between departments within the fund. The legal level of budgetary control (i.e., the level at which expenditures may not legally exceed appropriations) is the fund level. The Agency’s Board made several supplemental budgetary appropriations during the year. The Agency uses encumbrance accounting. Open commitments are recognized as expenditures in the period in which the actual goods or services are received and a liability is incurred. Encumbrances (e.g., contracts) outstanding at year end for unfulfilled obligations are canceled and re-appropriated in the succeeding year’s budget. Accordingly, there were no encumbrances outstanding at year end.

DaytonaBeach.gov/Redevelopment

City of Daytona Beach, FL CRA Financial Summary Data FINANCIAL SUMMARY DOWNTOWN

DOWNTOWN

2019 ACTUAL

2020 ACTUAL 2021 ACTUAL 2022 ACTUAL 2023 ACTUAL 2024 ACTUAL 2025 ACTUAL*

INTERGOVERNMENTAL CHARGES FOR SERVICE LICENSES & PERMITS INCOME ON INVESTMENTS

601,605

646,313

724,746

1,077,598 1,142,132

1,258,555

1,401,093

- -

703

434

2,152 3,929

2,020

9,460

6,344

4,461

42,348

66,296

35,597

MISC

611,769 $

653,096 $

730,828 $ 1,082,147 1,186,500 $ $

1,324,851 $ 1,436,690

OPERATING

322,112 22,277

423,019 2,620,766

1,294,171 1,273,604

1,451,151

2,103,791

CAPITAL OUTLAY

27,048

25,425

180,327

275,607

227,507

238,960

344,389 $

450,067 2,646,191 $ $ 1,474,498 1,549,211 $ $

1,678,658 $ 2,342,751

ISSUANCE OF DEBT

159,281 873,818 (234,252) 798,847

TRANSFERS IN

515,085 (172,401) 342,684

529,325 (173,100) 356,225

539,007 (172,639) 366,368

772,344 (172,037) 600,307

985,222 (236,186) 749,036

1,222,141 (172,223) 1,049,918

TRANSFERS (OUT) - DEBT SERVICES

NET CHANGE IN FUND BALANCE

610,064 $

559,254 (1,548,995) $ $

207,956 $

436,136 $

395,229 $

143,857

FUND BALANCE BEGINNING

City of Daytona Beach, Florida Budget Summary, Fund Level

1,217,751 1,827,815 1,827,815 2,387,069

2,387,069

838,074 1,046,030 1,046,030 1,482,166

1,482,166

1,877,395

ENDING

838,074

1,877,395 2,021,252.00

FUND SUMMARY

*As of 12/05/2025, FY 2025 amounts are preliminary and have not been finalized or audited

FUND NUMBER 130

REDEVELOPMENT - DOWNTOWN

ADOPTED BUDGET

AMENDED BUDGET

$3.0M

EXPENSE

REVENUE

YTD TOTAL

FINAL PROJECTION

YTD TOTAL

FINAL PROJECTION

Sources: 2019 2020 CoDB ACFR, 2021 - 2024 CRA Audited Financial Statments, 2025 Trial Balance Report

$61.5K

$257.4K

VARIANCE $

VARIANCE %

VARIANCE $

VARIANCE %

$2.7M

91.34%

$3.0M

100.00%

BURN RATE *

ENCUMBERANCES

YTD Expense by Category

$210.4K

0.69%

PERSONNEL SERVICES 41%

YTD Actual to Budget

OTHER EXPENSES 0%

$- $100,000.00 $200,000.00 $300,000.00 $400,000.00 $500,000.00 $600,000.00 $700,000.00 $800,000.00

CAPITAL 0%

OPERATING 59%

October

November

December

Actual

Budget

2024-25 CRA Annual Report | 31 | Return to Table of Contents Executive Notes: 1. Majority of budgeted revenues are from Ad Valorem tax payments. Historically, these payments are not posted until December of the fiscal year. As of this report, they have not been posted. 2. Prior year project budget will be amended at a later date after fiscal year has been closed. As of this report the following projects has funds available to roll from FY 2025: 601732 - Orange Ave Trail: $23,925.64 151925 - Beach Street Redevelopment: $1,536,586.49

ADOPTED BUDGET DOWNTOWN The City of Daytona Beach, Florida Downtown CRA - Line Item Adopted Budget Detail

Object *

Description

2026

512001 - Regular Salaries & Wages

$ $ $ $ $ $ $ $ $ $ $ $

96,950.32 7,416.70 24,471.49

521001 - Fica Taxes

522005 - State Retirement

522006 - Deferred Comp Contribution 522006 - Deferred Comp Contribution 523008 - Group Health Insurance 523009 - Group Life Insurance 524001 - Workers' Compensation (IS) 532001 - Accounting & Auditing 523001 - Ad & D 532001 - Accounting & Auditing 534900 - Other Contractual Services 534900 - Other Contractual Services 534900 - Other Contractual Services 534900 - Other Contractual Services 534900 - Other Contractual Services 534900 - Other Contractual Services 534900 - Other Contractual Services 534900 - Other Contractual Services 534019 - Projects 534900 - Other Contractual Services 534900 - Other Contractual Services 534900 - Other Contractual Services 534900 - Other Contractual Services 534900 - Other Contractual Services 534900 - Other Contractual Services 540003 - Care And Subsistence 541001 - Cell Phone Stipend 542001 - Postage & Freight 543001 - Utilities - Electricity 543003 - Utilities - Water & Sewer 543003 - Utilities - Water & Sewer 544006 - Lease/Rent - Public Parking 540001 - Car Allowance

Executive Benefit - Jeff Brown Executive Benefit - Ken Thomas

100.00 250.00

23.27

15,107.27

127.97 756.73

CRA Audit Contract to comply with new Statute changes

1,270.00

CRA AUDIT AND REPORT ACFR

686.00

Holiday Lighting

50,000.00

Esplanade

$ 800,000.00 $ 100,000.00 $ 100,000.00

CRA Expansion study

Parking Study

Catalyst Design Group (East MMB to Beach street Streetscape)

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

70,000.00 20,000.00 50,000.00 20,000.00 10,000.00 75,000.00 70,000.00 25,000.00 50,000.00 40,000.00

Appraisals Demolition

Environmental Report

Water Taxi

Transit Solution ( Free ride like Freebee, Rider, Etc.

Ambassador Program (clean Street)

Downtown Branding

Mural program

Architecture & Engineering

Security

$ 125,000.00

2,535.00 1,200.00

Redevelopment Board Meetings

399.00 300.00

REDEV - DOWNTOWN ~ postage & freight

Funds to pay FPL for use of electricity for Downtown parking lot lights, decorative street

67,000.00 1,000.00 22,000.00 64,000.00 2,230.00 316.00 5 9,850.00 34,360.00 10,000.00 2,000.00 75,000.00 2,000.00

New property acquisitions

Finance Estimate

Lease/Rent - Public Parking-Assumes Burgoyne renews contract

544007 - Lease/Rent - Other 544007 - Lease/Rent - Other The City of Daytona Beach, Florida Downtown CRA - Line Item Adopted Budget Detail 546001 - Maintenance And Repair

Palmetto Ave Rent for parking lot

PLANTERS MAINTENANCE

$ $ $ $ $ $ $ $ $ $ $ $ $ $

546001 - Maintenance And Repair 546001 - Maintenance And Repair 547001 - Printing & Binding 548005 - Promo - Marketing 549002 - Advertising Legal/Recruiting 549501 - Safety Administration (IS) 549502 - Employee Benfits Admin (IS) 549503 - Employment Services (IS) 549702 - Fixed Cost - Info Sys (IS) 549401 - Facade Grant 554002 - Subscriptions & Publications 555001 - Education And Training 338003 - Increment - Downtown Redev 345900 - Payment From Component Unit 381005 - Transfer - General Fund 329506 - Sidewalk Café Permits CITY OF DAYTONA BEACH, FLORIDA CRA PROJECT FUNDING 551001 - Office Supplies 554001 - Memberships

Pressure Cleaning Downtown Sidewalks/Dumpster Areas

Redev-Downtown ~ M&R Property Maintenance & Parking lot improvement

REDEV - DOWNTOWN ~ printing & binding

Outdoor Cafe Grant Program To lease properties held by CRA

Commercial, Residential, Historic Preservation Grants, Murals and others

$ 450,000.00

155.42 147.35 803.33

Internal Service - Information Technology (Updated 8/12/2025)

19,600.88 4,500.15 2,000.00 1,000.00 8,000.00

Office Supplies, Giveaways and Uniforms

FRA & CRA| FDEO| Individual Professional Memberships such as APA, IEDC, ICSC, NCDA, ETC.

REDEV - DOWNTOWN ~ subscriptions & publications

NCDA, SHIP, FRA, FCDA, PRESERVATION ON MAIN STREET, FLORIDA HOUSING

Ad Valorum Calculation Update this July 2025 Ad Valorum Calculation

$ 1,379,016.00 $ 147,291.00 $ 1,326,468.00

DOWNTOWN CRA Account Number

Project Number

Project Desc.

2025 Rollover

2026 Budget

2026 YTD Encumbered

Available Amount

130-150001-552-565000-151925 130-600000-572-565000-601732 130-600000-541-565000-602601

151925 601732 602601

Beach Street Redevelopment Orange Ave Trail (Sun Trail) Beach St. Bat to Michigan PH2

$ 1,536,586.49 (1,258,945.00) $

$ $ $

- - -

$ 63,572.34

$ $ $ $

214,069.15 23,925.64 266,377.00 504,371.79

$ $

23,925.64

$ 1,526,105.00

$ 1,259,728.00

TOTAL PROJECT FUNDING

MAIN STREET CRA Account Number

Project Number * Project funding is available for reallocation based on Commission discretion Project Desc. 2025 Rollover 2026 Budget

2026 YTD Encumbered

Available Amount

602405 150904 151406 152505 152506 152309

Main St Coquina Arch Repair

$ $ $ $ $

- - - - -

$ $ $ $ $ $

- - - - - -

$ $ $ $ $ $

- - - - - -

131-150001-529-565000-602405 131-150001-552-561000-150904 131-150001-552-565000-151406 131-150001-552-565000-152505 131-150001-552-565000-152506 131-150001-552-582000-152309

Land Acquisition East ISB Streetscape Boardwalk Extension Main St Streetscape

$ 1,206,457.52

$ 1,206,457.52 $ 3,018,166.53 $ 1,900,000.00 $ 5,200,000.00

60,586.53 2,957,580.00 $

$ 1,900,000.00 $ 5,200,000.00

Incentive Agreement Senor Frog

500,000.00

$ $

500,000.00 11,824,624.05

TOTAL PROJECT FUNDING

Total

BALLOUGH ROAD CRA Account Number

Project Number

Project Desc. Land Acquisition

2025 Rollover

2026 Budget

2026 YTD Encumbered

Available Amount $ 1,401,255.86

132-150001-552-561000-151006

151006

$ 1,145,488.86 $

255,767.00

$ $ $ $

- - - -

$ $ $ $

- - - -

DaytonaBeach.gov/Redevelopment 132-150001-552-565000-150903 150903 132-150001-552-565000-151109 151109

Ballough Streetscape/Beautification Ballough Bridge/Streetscape North Beach St Improvements

$ $ $

115,561.76 369,354.17 350,000.00

$ $ $

- - -

$ $ $ $

115,561.76 369,354.17 350,000.00 2,236,171.79

132-600000-541-565000-602308

602308

Total

TOTAL PROJECT FUNDING

MIDTOWN CRA Account Number

Project Number

Project Desc. Land Acquisition

2025 Rollover

2026 Budget

2026 YTD Encumbered

Available Amount

152204 151213

356,854.15

$ $

- -

$ $

- -

$ $

- -

356,854.15

133-150001-552-561000-152204 133-150001-552-565000-151213

West ISB Streetscape

$ 1,980,606.46

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