23% of the Deerfield Beach CRA budget goes to “other expenses.”

Chaz StevensPolitics


Our review of the Broward County study, “The Future of Redevelopment Funding,” as it pertains to the Deerfield Beach CRA, revealed $9.2M ($8.8M in TIF) in revenue, and $16.2M in expenditures, with the $7M difference made up with loans and IOUs.

Like other “very expense heavy” CRAs, Deerfield’s is no different:

  • $16.2M in expenses (excludes principal repayment)
  • $2.5M on interest
  • $11.7M on capital/projects
  • $2.1M on “other” expenses

$2.1M is approximately 23% of the total budget; a very high overhead rate, likely eaten up mostly by salaries.

Luckily, Deerfield doesn’t plant tomato gardens, as done by the Lauderdale Lakes CRA.

While details on the $11.7M in capital improvements are lacking:

  • In 2012, the CRA spent $8.6M against revenue of $2.1M (the $6.5M difference made up by past loan fund balances)
  • Of that $8.6M spent, almost $7M went to capital and $700k transferred to the General fund for debt/interest

Details, as mentioned, were scarce, but we did note $6.8M in “streetscape” improvements. So, it’s hard to tell if the $18M bought any “solid capital improvements.”

Finally, the Deerfield Beach CRA has a fund balance of $2,659,188, which I would assume goes to debt service.

Broward County CRA Plan Deerfield Beach Financials

Chaz Stevens

Chaz Stevens

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