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Home My WebLink AboutOMNI-CRA-R-01-0021OMNI/CRA ITEM 7 RESOLUTION NO. erf 21 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE OMNI COMMUNITY REDEVELOPMENT AGENCY ("CRA") APPROVING AMENDMENTS PROPOSED TO THE CRA'S BUDGET FOR FISCAL YEAR 2002 AND AUTHORIZING TRANSMITTAL OF THE AMENDED BUDGET (ATTACHED "EXHIBIT A") TO THE CITY OF MIAMI. WHEREAS, the City of Miami approved and adopted the Omni Area Redevelopment Plan pursuant to Resolution Nos. 86-868 and 86-607 (the "Redevelopment Plan"); and WHEREAS, the CRA is responsible for carrying out Community Redevelopment activities and projects in the CRA Redevelopment Area (the "Redevelopment Area") established pursuant to the Redevelopment Plan; and WHEREAS, the CRA desires to amend its Budget for Fiscal Year 2002 and transmit the Amended Budget to the City of Miami. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE OMNI COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF MIAMI, FLORIDA: ®/CRA 01- 21 Section 1. The recitals and findings contained in the Preamble to this Resolution are incorporated herein as if fully set forth in this Section. Section 2. The CRA Board of Directors hereby approves the amendments proposed to the CRA's Budget for Fiscal Year 2002 and authorizes transmittal of the Amended Budget (attached "Exhibit A") to the City of Miami. Section 3. The Resolution shall be effective upon its adoption. PASSED AND ADOPTED on this 30th day of July, 2001. ARTHUR E. TEELE, JR., CHAIRMAN ATTEST: WALTER J. FOEMAN CITY CLERK ,-'- APPROVED A,�s TO ORM Al�D CORRECTNESS J,,a' ND 0 VILARELLO TY ND Page 2 of 2 OA]I/CRA 01— 1 EXHIBIT "A" ITEM 7 OMNI/CRA 01. 21 CITY :�AAMI COMMUNITY REDEVELOPMENT AGENCY RW..d Jill, 2001 OMNI Trust Fund - Fiscal Year 2002 Adopted Modified Estimate Difference Difference Funding Sources `FY 2001 FY 2001 FY 2002 Est - Adp, Est. - Mod. Tax Increment Revenues -City $ '624.295 S 624,295 $1,015,786 $ 391,491 $ 391,491 Tax Increment Revenues -County 403,172 393,449 $ 649,448 246,276 255.999 City of Miami- Parking Revenue - - - - - Permitting & Developmental Fees - 3MP - - - - - Interest on Investment 25,000 35,000 35,000 10,000 Rental - - - - - Guaranteed Entitlement - - - - - City of Miarni - - - - - Interlocal Agreement - General Assistance - 85,000 - - (85,000) Interlocal A 1reement - CDBG Support - - - - - Prior year carryover and reimbursement 150,000 533,566 1,632,803 1,482.803 1,099,237 3rd Avenue Business Corridor - - - - - HOPWA - - - - CDBG Projects - - - - 1995 Special Non Ad Valorem Revenue Bonds - - - - Section 108 Loan - - - - - Transfers - 1,005.237 - - (1,005.237) Florida Inland Navigation District Grant/SAFE - - - - - CLUC Project (Laredo/Re-Use Plan) - - - HOME (Homeownership Counseling & Qualification) - - - - Grants to Existing Businesses - - - - - Community Development Block Grant -Year 1 - Unfunded - - - - Community Development Block Grant -Year 2 - Unfunded - - - - - Fannie Mae - - - Sale of Townhomes Allowance for Property Adjustment Board (City & County) (83,262) (83,262) (83,262) Total Funding $1,202,467 $2.676.547 $3,249,776 $2,D47,309 $ 573,229 Expenditures Salaries & Fringe Benefits $ 68,353 $ 25,000 $ - $ (68,353) $ (25,000) Operating Expenses (See Notes) - 1,000 - - (1,000) Furniture, Fixtures and Equ pment - - - - Projects and Programs - 1.632,803 1.632.803 1,632,803 - County Interlocal Agreeme . 1,027,467 1,017,7" 1,400,000 372,533 382,256 Debt Service - - - - - Budget Reserve 106.647 - - (106,647) - Fannie Mae Transfers - Total Expenditures $1,202,467 - 216,973 216,973 216,973 $2,676.547 $3,249,776 $2,047,309 $ 573,229 Funding Sources over (Under) Expenditures $0 $0 $0 $0 $0 7118/2001 4:09 PM 4 C) CITY;.. ,.- ;MI COMMUNITY REDEVELOPMENT AGENCY NM�O .Me I1, ]001 Adopted Modified Estimate Difference Difference FUNDED SEOPW OMNI BONDS 3 - Line Item Detail Pr 2001 FP 2001 FP 2002 Eat - Ad . Est - Mod. CDBG UNFUNDED TRUST TRUST HOME CLUC LOANS HOPWA TOTAL Master planning. Design and Construction of Margaret Pace Perk 0.01 S 976,450 S 1,551,70 S 1,551,796 $ 575,346 $ - $1,551.796 - 1,551,796 Planning and Coordlnstlon of the North Beyshore \ extension and the Venetian Causeway approach 0.01 - - - - - - - - - - - - - - - manning and designof the Baywak behind the International Fine hits College 0.01 - - - - - - - - - - - - - - Modification of OMNI Redevelopment Plan 0.01 - 31.007 31,007 31,007 - - 31,007 - - 31,007 Firehouse Assessment 50,000 50,000 50,0()0 501m0 50.000 Totals $ 976,450 $ 1.632,803 $1,632.803 $ 656,353 $ 1,632,803 1,632,803 Page 1 of 1 CITY OF MIAMI COMMUNITY REDEVELOPMENT AGENCY Re*Ad: June 11, 2WI Line Item Detail Master Planning, Design and Construction of Margaret Pace Park Planning and Coordination of the North Bayshore extension and the Venetian Causeway approach Planning and design of the Baywalk behind the International Fine Arts College Modification of OMNI Redevelopment Plan Firehouse Assessment Totals Adopted Modified Estimate Difference Difference FY' 2001 FY' 2001 FY' 2002 Est - Ad . Est. - Mod. 0.005 $ 976,450 $ 1,551,796 $ 1,551,796 $ 575,346 $ - 0.006 - - - - - 0.007 - - - - - 0.008 - 31,007 31,007 31,007 - 50,000 50,000 50,000 - $ 976,450 $ 1,632,803 $ 1,632,803 $ 656,353 $ - Page 1 of 1 O/C RA 01- 21 ITEM 7 RESOLUTION NO. OMNI/CRA A RESOLUTION OF THE BOARD OF DIRECTORS OF THE COMMUNITY REDEVELOPMENT . AGENCY ("CRA") ACCEPTING AND TRANSMITTING THE ESTIMATED FISCAL YEAR 2002 BUDGET ATTACHED HERETO AS EXHIBIT "A" MADE A PART HEREOF (THE "BUDGET"), TO THE CITY OF MIAMI. WHEREAS, the City of Miami approved and adopted the Omni Area Redevelopment Plan pursuant to Resolution Nos. 86-868 and 86-607 (the "Redevelopment Plan"); and WHEREAS, the CRA is responsible for carrying out community redevelopment activities and projects in the Omni Redevelopment Area (the "Redevelopment Area") established pursuant to the Redevelopment Plan; and WHEREAS, the CRA desires to accept and transmit to the City of Miami the Estimated FY'2002 Budget. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF MIAMI, FLORIDA: Section 1. The recitals and findings contained in the Preamble to this Resolution are incorporated herein as if fully set forth in this Section. Section 2. The Board of Directors of CRA hereby accepts the FY'2002 Estimated Budget attached as Exhibit A and incorporated herein by reference. Section 3. The resolution shall be effective upon its adoption. PASSED AND ADOPTED on this 30`h of July, 2001. ATTACHMENT M CONTAINED Arthur E. Teele, Jr., Chairman oumic"w , � 1- 21 ATTEST: Walter J. Foeman, City Clerk APPROVED AS TO FORM AND CORRECTNESS: Alejandro Vilarello City Attorney MIAI #985965 v] ITEM 7 OM%/M, 01- 21 EXHIBIT "A" ITEM 7 01 - 21 CITY . ..dAMI COMMUNITY REDEVELOPMENT AGENCY OMNI Trust Fund - Fiscal Year 2002 R.vl..d My 10, 2001 Adopted Modified Estimate Difference Difference Fundina Sources FY 2001 FY 2001 FY 2002 Est - Adp. Est. - Mod. Tax Increment Revenues -City $ 624,295 $ 624,295 $1,015,786 $ 391,491 $ 391,491 Tax Increment Revenues -County 403,172 393,449 $ 649,448 246,276 255,999 City of Miami- Parking Revenue - - - Permitting & Developmental Fees - 3MP - - - - ' Interest on Investment 25,000 35,000 35,000 10,000 Rental - " Guaranteed Entitlement City of Miarni - - " Interlocal Agreement - General Assistance - 85,000 (85,000) Interlocal Agreement - CDBG Support - - Prior year carryover and reimbursement 150.000 533,566 1,632,803 1.462,803 1.099,237 3rd Avenue Business Corridor - - - - ' HOPWA ' CDBG Projects 1995 Special Non Ad Valorem Revenue Bonds - - Section 108 Loan - " Transfers 1,005,237 - (1,005,237) Florida Inland Navigation District Grant/SAFE - CLUC Project (Laredo/Re-Use Plan) HOME (Homeownership Counseling & Qualification) - - Grants to Existing Businesses - Community Development Block Grant -Year 1 - Unfunded - - - - Community Development Block Grant -Year 2 - Unfunded - - Q Fannie Mae Sale of Townhomes Allowance for Property Adjustment Board (City & County) - - (83,262) (83,262) (83,262) Total Funding $1,202,467 $2.676,547 $3,249,776 $2,047,309 $ 573,229 Expenditures Salaries & Fringe Benefits $ 68,353 $ 25,000 $ $ (68,353) $ (25,000) Operating Expenses (See Notes) - 1,000 (11000) Furniture, Fixtures and Equ pment - - - - - Projects and Programs - 1,632,803 1,632,803 1,632,803 - �.ds County Interlocal Agreeme 1,027,467 1.017.744 1,400,000 372.533 382,256 Debt Service - _ - Budget Reserve 106,647 _ (106.647) Fannie Mae - - - - - Transfers 216,973 216,973 216,973 Total Expenditures $1 202,467 $2,676.547 $3,249,776 $2,047,309 $ 573,229 Funding Sources over (Under) Expenditures $0 $0 $0 $0 $0 7/18/2001 4:09 PM CITY IMI COMMUNITY REDE1res-OPMENT AGENCY Adopted Modified Estimate Difference Difference FUNDED Line item Detail FY 2001 FY' 2001 FY 2002 Est - Ad . Est. - Mod. CDBG Master Planning, Design and Construction of Margaret Pace Park 0.01 $ 976,450 S 1.551,796 $1,551,796 $ 575,346 $ Planning and Coordination of the North Bayshore extension and tie Venetian Causeway approach 0.01 - - - - - - Planning and design of tie Baywak behind the International Fine Arts College 001 - - - - - - Modification of OMNI Redevelopment Plan 0.01 - 31.007 31.007 31.007 Firehouse Assessment 50,000 50,000 50,000 Total* $ 976.450 $ 1,632.803 $1,632,803 $ 656.353 $ Page 1 of 1 SEOPW OMNI )ED TRUST TRUST HOM $1.551,796 31,007 50,000 1 0.12 8fti BONDS 3 JC LOANS HOPWA TOTAL 1,551.796 31,007 50,000 1 932.803 CITY OF MIAMI COMMUNITY REDEVELOPMENT AGENCY Rented: Am 11, 2001 Line Item Detail Master Planning, Design and Construction of Margaret Pace Park Planning and Coordination of the North Bayshore extension and the Venetian Causeway approach Planning and design of the Baywalk behind the International Fine Arts College Modification of OMNI Redevelopment Plan Firehouse Assessment Totals Adopted FY' 2001 Modified FY' 2001 Estimate FY' 2002 Difference Est - Ad . Difference Est. - Mod. 0.005 $ 976,450 $ 1,551,796 $ 1,551,796 $ 575,346 $ - 0.006 - - - - - 0.007 - - - - - o,008 - 31,007 31,007 31,007 - - 50,000 50,000 50,000 - $ 976.450 $ 1.632,803 $ 1,632,803 $ 656,353 $ - Page 1 of 1 t% i r 21 ®�I��, CITY OF MIAMI, FLORIDA %,,.-- INTER -OFFICE MEMORANDUM ',..w., ITEM 7 Chairman Teele and Members of the CRA Board FROM: Dipak M. Parekh Executive Directoi DATE: July 30, 2001 FILE: SUBJECT: OMNI/CRA Budget FY 2002 REFERENCES: Resolution and Budget ENCLOSURES:' RECOMMENDATION It is recommended that the Community Redevelopment Agency (CRA) Board, accept the attached resolution, which outlines the Budget estimate for fiscal year 2001 for the OMNI Community Redevelopment Agency (OMNI CRA), and transmit to the City of Miami. BACKGROUND The proposed budget for fiscal year 2002 is $3,249,776, an increase of $573,229 over the fiscal year 2000 modified budget, which is based upon an increase in tax increment revenues in the OMNI area. The proposed budget provides the maximum contribution to the County for the Performance Center Bonds at $1,400,000, and provides the carryover in an amount of $1,632,803 towards projects approved previously by the CRA Board. Funding Source: N/A Account Number: N/A OMM/Cm