Consultants: removing Singer Island from Riviera Beach CRA would cut about $55 million in TIF over 10 years; residents urge protections for scale and ecology

Summary

Consultants told the Riviera Beach CRA on Aug. 27 that removing Singer Island from the CRA could cost the agency about $5.5 million a year in TIF revenue, roughly $54–55 million over 10 years, while public comment focused on concerns that high‑rise development would harm community character and the local dive economy.

Riviera Beach CRA consultants on Aug. 27 told the agency that removing Singer Island from the CRA boundary would reduce tax‑increment financing (TIF) revenues to the CRA by an estimated $54–55 million over 10 years, based on current assessed values and a conservative growth assumption.

The presentation: Albert Waters of E.L. Waters & Company and Corey Ann Delaine of Oral Group presented a preliminary fiscal analysis showing Singer Island’s taxable base at about $450,000,000. Using a 1% annual growth assumption and a 95% typical CRA capture rate, they estimated roughly $5.49 million in annual TIF revenue from the Singer Island portion; over a flat 10‑year projection that yields approximately $54–55 million in TIF captured by the CRA.

Methodology and cautions: Consultants said the estimate used standard state methodology for TIF and current millage rates, and that the number is sensitive to future appraisal growth, capture rate and any…

Consultants: removing Singer Island from Riviera Beach CRA would cut about $55 million in TIF over 10 years; residents urge protections for scale and ecology

Summary

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