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HomeMy WebLinkAboutAgenda Item Summary Formo y� AGENDA ITEM SUMMARY FORM II ° File ID: #9252 JL F I0K`p\ Date: 06/15/2021 Requesting Department: Downtown Development Authority Commission Meeting Date: 07/22/2021 Sponsored By: District Impacted: All Type: Resolution Subject: Proposed Millage for FY'21 -'22 DDA Purpose of Item: Section 200.065(2)(a)1, Florida Statutes (2010) ("Statute"), requires each taxing authority to establish a proposed millage rate. The Miami Downtown Development Authority of the City of Miami ("MIAMI DDA") is proposing its FY21-22 proposed millage for the City of Miami Commission's consideration. Background of Item: Section 200.065(2)(a)1, Florida Statutes (2010) ("Statute"), requires each taxing authority to establish a proposed millage rate. The Statute stipulates that the proposed millage rate be submitted to the Miami -Dade County Property Appraiser and the Tax Collector; and The proposed millage rate reflects the levy necessary to realize property tax revenues anticipated in the Fiscal Year 2021-2022 Budget for the Downtown Development Authority of the City of Miami ("MIAMI DDA"); Budget Impact Analysis Item has NO budget impact Item is NOT Related to Revenue Item is NOT funded by Bonds Total Fiscal Impact: N/A Reviewed By Downtown Development Authority Christina Crespi Office of Management and Budget Pedro Lacret Office of Management and Budget Leon P Michel City Manager's Office Fernando Casamayor City Manager's Office Arthur Noriega V Legislative Division Valentin J Alvarez Office of the City Attorney Xavier Alban Office of the City Attorney Barnaby L. Min Office of the City Attorney Victoria Mendez City Commission Nicole Ewan Office of the Mayor Mayor's Office Office of the City Clerk City Clerk's Office Department Head Review Completed 07/01/2021 2:37 PM Budget Analyst Review Completed 07/07/2021 10:40 AM Budget Review Completed 07/13/2021 3:35 PM Assistant City Manager Review Completed 07/13/2021 3:45 PM City Manager Review Completed 07/13/2021 8:28 PM Legislative Division Review Completed 07/13/2021 8:44 PM ACA Review Completed 07/13/2021 8:58 PM Deputy City Attorney Review Completed 07/13/2021 9:05 PM Approved Form and Correctness Completed 07/13/2021 9:48 PM Meeting Completed 07/22/2021 9:00 AM Signed by the Mayor Completed 08/02/2021 4:42 PM Signed and Attested by the City Clerk Completed 08/02/2021 4:54 PM Office of the City Clerk City Clerk's Office Rendered Completed 08/02/2021 4:55 PM GSY v City of Miami City Hall LeLegislation 3500 Pan American Drive g Miami, FL 33133 R Resolution www.miamigov.com Enactment Number: R-21-0317 File Number: 9252 Final Action Date:7/22/2021 A RESOLUTION OF THE MIAMI CITY COMMISSION COMPUTING A PROPOSED MILLAGE RATE FOR THE MIAMI DOWNTOWN DEVELOPMENT AUTHORITY OF THE CITY OF MIAMI, FLORIDA ("MIAMI DDA") FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2021 AND ENDING SEPTEMBER 30, 2022; AUTHORIZING THE EXECUTIVE DIRECTOR OF THE MIAMI DDA TO SUBMIT SAID PROPOSED MILLAGE RATE AND STATUTORILY DEFINED ROLLED -BACK RATE TO THE MIAMI-DADE COUNTY PROPERTY APPRAISER AND TAX COLLECTOR TOGETHER WITH THE DATES, TIMES, AND LOCATIONS OF THE PUBLIC HEARINGS AT WHICH THE CITY COMMISSION WILL CONSIDER THE PROPOSED MILLAGE RATE, THE MIAMI DDA'S TENTATIVE BUDGET, THE TENTATIVE MILLAGE, THE FINAL MILLAGE, AND THE FINAL BUDGET FOR SAID FISCAL YEAR. WHEREAS, Section 200.065, Florida Statutes ("Statute"), sets forth requirements for the "Truth in Millage" ("TRIM") notice and requires each taxing authority to establish a proposed millage rate and to determine the statutorily defined rolled -back rate; and WHEREAS, the Statute requires that the proposed millage rate and statutorily defined rolled -back rate be submitted to the Miami -Dade County Property Appraiser ("Property Appraiser') and the Miami -Dade County Tax Collector ("Tax Collector'); and WHEREAS, the proposed millage rate will reflect the levy necessary to fund the Miami Downtown Development Authority of the City of Miami, Florida's ("MIAMI DDA") tentative budget other than the portion of the budget to be funded from sources other than ad valorem taxes; and WHEREAS, the Statute defines the "rolled back millage rate" as a millage rate which, with certain specified exclusions, will provide the same ad valorem tax revenue for each taxing authority as was levied during the prior year less the amount, if any, paid or applied as a consequence of an obligation measured by the dedicated increment value; and WHEREAS, the exclusions to the rolled back millage rate are "new construction, additions to structures, deletions, increases in the value of improvements that have undergone a substantial rehabilitation which increased the assessed value of such improvements by at least one hundred percent (100%), property added due to geographic boundary changes, total taxable value of tangible personal property within the jurisdiction in excess of one hundred fifteen percent (115%) of the previous year's total taxable value, and any dedicated increment value"; and WHEREAS, the proposed millage rate submitted to the Property Appraiser and the Tax Collector is not binding but is necessary for the purpose of preparation of TRIM notices; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by reference and incorporated herein as if fully set forth in this Section. Section 2. The MIAMI DDA's rolled back rate is 0.4570 mills. Section 3. The proposed millage rate for the MIAMI DDA for the Fiscal Year beginning October 1, 2021 and ending September 30, 2022 is 0.4681 mills, which is 2.43% more than the rolled back rate. Section 4. The Executive Director is hereby authorized' to submit the rolled back rate and the proposed millage rate for the MIAMI DDA to the Property Appraiser and to the Tax Collector together with the dates, times, and locations at which the City Commission will hold public hearings to consider the proposed millage rate, the MIAMI DDA's tentative budget, the tentative millage, the final millage, and the final budget for said fiscal year as follows: September 13, 2021 at 5:05 P.M. in the Commission Chambers at City Hall, 3500 Pan American Drive, Miami, Florida, and September 23, 2021 at 5:05 P.M. in the Commission Chambers at City Hall, 3500 Pan American Drive, Miami, Florida, or such other times, dates, and locations as determined by the City Commission, provided to the Property Appraiser and Tax Collector, and publicly noticed by the City Clerk in accordance with Florida laws. Section 5. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.2 APPROVED AS TO FORM AND CORRECTNESS: l i ria i �-ndez, Cify Nttor iey 7/13/2021 The herein authorization is further subject to compliance with all legal requirements that may be imposed, including but not limited to, those prescribed by applicable City Charter and City Code provisions. Z If the Mayor does not sign this Resolution, it shall become effective at the end of ten (10) calendar days from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become effective immediately upon override of the veto by the City Commission.