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HomeMy WebLinkAboutBack-Up Documents�er I IW 11 w: W11W ru If w 11 ow 11 w Il y L go - City o MIAMI FORElfER GENERAL OBLIGATION BOND City of Miami Commission July 9, 2020 Tranche 1 Status MIAM100 ft BUILDING MIAMI FOREVER MIAIFOREVER GENERAL OBLIGATION BOND r Miami Forever Bond Status Report Total Approved Tranche 1 Projects 33 Funds Allocated to Tranche 1 $58,653,339 Infrastructure = $43,653,339 Affordable Housing = $15,000,000 MIAM100 BUILDING MIAMI FOREVER Planning ASE 4 Selection 5 I a Construction 7 City wide projects completed: ✓ 66 Backflow Valves Under T1 + 21 with FDEP Funds ✓ 11 Spot Drainages ✓ 3 Park Roofs ✓ 4 Playgrounds ✓ 24 Parks Access and Mobility Renovations ✓ 11 Designs Next three months: ■ 6 projects go into bidding for construction ■ 5 into design ■ 4 into construction *03 MIAMI FOREVER GENERAL OELIGA7ION BOND Miami Forever Bond Expenditures Status Tranche 1 funding is split in two; Infrastructure and Affordable Housing: Infrastructure Only Total MFB Funds Tranche 1 Actual (Spent) Encumbrances Percent for Actual (Spent) Percent for Actual (Spent) + Encumbrances Total MFB Funds Tranche 1 Actual (Spent) Encumbrances Percent for Actual (Spent) Percent for Actual (Spent) + Encumbrances $0.00 0% 0% Encumbrances Percent for Actual (Spent) Percent for Actual (Spent) + Encumbrances $58,653,339.00 $5,697,859.34 $6,845,670.02 10% 21% $400,000,000.00 $5,697,859.34 $6,845,670.02 1.45% 3.14% MIAMI00 ft BUILDING MIAMI FOREVER MIAIFOREVER 4 GENERAL OBLIGATION BOND AffordableInfrastructure and $43,653,339.00 Total MFB Funds Tranche 1 $5,697,859.34 Actual (Spent) $6,845,670.02 Encumbrances 13% Percent for Actual (Spent) 29% LPercent for Actual (Spent) + Encumbrances i Totals Miami Forever Bond $15,000,000.00 Total MFB Funds $0.00 Actual (Spent) $0.00 0% 0% Encumbrances Percent for Actual (Spent) Percent for Actual (Spent) + Encumbrances $58,653,339.00 $5,697,859.34 $6,845,670.02 10% 21% $400,000,000.00 $5,697,859.34 $6,845,670.02 1.45% 3.14% MIAMI00 ft BUILDING MIAMI FOREVER MIAIFOREVER 4 GENERAL OBLIGATION BOND Project Selection Process MIAM100 ft BUILDING MIAMI FOREVER MIAIFOREVER GENERAL OBLIGATION BOND Guiding Themes & Funding Categories Five Guiding Themes are developed by the Task Force to create a stronger, more resilient and innovative future for Miami by assessing city-wide requirements and citizen input, orchestrating a deliberate and objective project selection process, and optimizing all available resources GUIDING THEMES FUNDING CATEGORIES REMAINING •••.• $181,705,072 SEA -LEVEL RISE & FLOOD PREVENTION (+=) = $52,651,771 PARKS & CULTURAL FACILITIES ---I W $6,580,000 PUBLIC SAFETY (A) 1 $15,409,818 ROADWAYS @) -1 $85,000,000 AFFORDABLE HOUSING M IAM IOCI ft BUILDING MIAMI FOREVER MIAIFOREVER 6 GENERAL OBLIGATION BOND Project Sources Project sources are master plans identified to select projects for each Bond category. Master Plans provide a vision for capital project investments and are used as decisions to select projects that will address city's needs for short-term solutions and long-term strategies. MIAM100 BUILDING MIAMI FOREVER SEA -LEVEL RISE & FLOOD PREVENTION Capital Improvements Plan Demonstration Projects Stormwater Master Plan Shorecrest Area Plan Local Mitigation Strategy Urban Lan Institute Waterfront Designs City Master Plans PARKS & CULTUKA.. Capital Improvements Plan Parks Heat Map Parks Master Plan O PUBLIC SAFETY Fire Station 10 Programing ROADWAI Capital Improvements Plan Pavement Condition Index (PCI) Assessment A AFFORDABLE HOUSING Affordable Housing Master Plan Pipeline Application Public -Public Public Private (P4) *I MIAMI FOREVER 7 GENERAL OELIGF719N EONU Project Selection Process STEP 1 GUIDING THEMES ALIGNMENT EXAMPLE: Project identified to be funded with MFB funds must be aligned with Guiding Themes M, STEP 2 FUNDING CATEGORY ALIGNMENT When a project meets guiding themes goals and criteria it must meet each respective category's goal and objectives STEP 3 PROJECT SCORING & PRIORITIZATION w 0 0 11 VO nnrr Project Sources 10 Prioritization MIAMIQ0 * BUILDING MIAMI FOREVER MIAMI FOREVER 8 GENERAL OELIGA7ION BOND Project Selection Map, I"6 @AAI@U @ @6 INPUTS la IMPLEMENTATION OUTPUTS _________--------------, Project Planning Lessons Learned Sources I Design I WBidcr, Infrastructure - - - - - - Selection I — — Construction I I Process Complete Benefits u I I I I I I I U 1 Y -- �I- 3YR •------ - - - - -- I I Ir -- — — — — — — — — — — — — — — — — — — PROJECT SOURCES a PROJECT SELECTION PROCESS BENEFITS INFRASTRUCTURE LESSONS LEARNED `w SEA -LEVEL RISE & FLOOD PREVENTION Capital Improvements Plan Demonstration Projects Stormwater Master Plan Shorecrest Area Plan Local Mitigation Strategy Urban Lan Institute Waterfront Designs City Master Plans PARKS & CULTURAL FACILITIES Capital Improvements Plan Parks Heat Map Parks Master Plan © PUBLIC SAFETY Fire Station 10 Programing t 1, ROADWAY' Capital Improvements Plan Pavement Condition Index (PCI) Assessment AAFFORDABLE HOUSING Affordable Housing Master Plan Pipeline Application Public -Public Public Private (P4) MIAM100 BUILDING MIAMI FOREVER 4 5 O O ■ Increased Safety ■ Positive Environmental Impacts ■ New/Improved Infrastructure ■ Developed Building Standards ■ New Policies ■ Improved Bond Rating ■ Capability Bond ■ Matched Bond Funding ■ Strengthened / New Partnerships ■ Economic Return for the City ■ Return on Investment /Triple Bottom Line ■ MFB 2 ■ Improve Park Accessibility ■ Build New park recreational centers ■ Build seawalls and other natural based solutions to prevent flooding ■ Build / improve Affordable housing units ■ Build new Fire Station 10 ■ Improve cultural facilities ■ Building Capacity ■ Growing Credibility ■ Gaining Knowledge ■ Establishing Credibility ■ Creating Partnerships ■ Matching Funding ■ Establish Support Policies ■ Establish Standards MIAMI FOREVER GENERAL OBLIGATION BOND 9 Timeline MIAMI00 ft BUILDING MIAMI FOREVER MIAIFOREVER 10 GENERAL OBLIGATION BOND Project Selection and Initiation Timeline Selection Model No ✓ Define guiding themes ✓ Identify criteria ✓ Refine category goals and objectives ✓ Develop quantitative Start selection model December '19 — January 2020 Submit Project List for Commission Approval ✓ Identify project City Leadership Approval sources/Requirements ■ ■ Submitt project list for ■ Screen &evaluate projects commission Agenda ■ Pursue + capture Matching funding 20 October — December 2020 E ■ Assess enterprise and OCI capacity: Increase CPMSS capacity Project Selection ■ Modify if needed ■ Commission approve list — move to execution ■ Set expectations Commission Project Approval 1 ■ bi • Initiation Confirm cost Confirm schedule Assign Project Identify procurement method Execute MIAMI00 ft BUILDING MIAMI FOREVER MIAIFOREVER 11 GENERAL OBLIG-ON BOND