HomeMy WebLinkAboutWWNRD-1 Code Section 62-444 and 62-6455/2/22, 11:29 AM Miami, FL Code of Ordinances
Sec. 62-644. - NRD-1 Public benefits trust fund; intent.
It is intended that the "NRD-1 Public Benefits Trust Fund" be established in order to collect cash
contributions made according to the NRD-1 as established in the Miami 21 Code, as amended, the
zoning ordinance of the city, to support reinvestment and supplement affordable/workforce housing,
public parks and open space, and civic space or civil support space within the NRD-1 boundaries.
(Ord. No. 13582, § 2, 12-10-15)
Sec. 62-645. - Established.
(a) There is hereby established a trust fund to be entitled the "NRD-1 Public Benefits Trust Fund,"
into which funds shall be deposited pursuant to this article.
(b) Upon receipt of funds for any project within the NRD-1 boundaries, the city department of
finance shall deposit such funds into the NRD-1 Public benefits trust fund.
(c) The Wynwood Business Improvement District ("BID") shall, through a five -member committee
of the BID to be formed on an annual basis each fiscal year, of which one member shall be
directly appointed by the city commissioner from District 5, one member shall be directly
appointed by the city commissioner from District 2, one member shall be appointed by the
city commission, and two members shall be appointed by the BID Board and submitted to the
city commission for confirmation, allocate within the NRD-1 boundaries funds collected for
purposes consistent with section 62-644. Expenditure of funds and any actions in furtherance
of the expenditure shall be consistent with the powers and duties of the BID, comply with city
procedures for the acquisition of goods and services, and approved within the annual budget
of the BID by the city commission.
(d) A minimum of 35 percent of funds in the NRD-1 Public benefits trust fund shall be allocated
towards affordable/workforce housing on an annual basis, and shall be expended pursuant to
guidelines and procedures established by the city commission.
(e) The NRD-1 Public benefits trust fund shall be established for a period of time commensurate
with the Wynwood Business Improvement District as set forth in section 2-1316, and
thereafter shall be reviewed by the city commission every three years to determine whether
the purposes of the NRD-1 Public benefits trust fund have been satisfied, and upon such
finding, the NRD-1 Public benefits trust fund shall sunset and any funds to be collected and
allocated, pursuant to this article and according to the Miami 21 Code, shall revert to the
Public benefits trust fund, as established in section 62-641 of the City Code.
(Ord. No. 13582, § 2, 12-10-15)
about: bl ank 1 /1