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Home My WebLink AboutSEOPW-CRA-M-02-0020ITEM 5B RECEIVED RESOLUTION NO.OMNI/CRA R 02-20 MAY 0 8 2 ,` CITY OF MIA, k1l CIr.1 A RESOLUTION OF BOARD OF DIRECTORS OF THE OMNI COMMUNITY REDEVELOPMENT AGENCY ("CRA") AUTHORIZING THE CRA EXECUTIVE DIRECTOR TO REMIT $1,430,000 OF OMNI TAX INCREMENT FUNDS TO MIAMI-DADE COUNTY FOR THE PURPOSE OF PAYING DEBT SERVICE ON THE PERFORMING ARTS CENTER BONDS. WHEREAS, the OMNI Community Redevelopment Agency (the "CRA") desires to remit $1,430,000 of OMNI Tax Increment Funds to Miami -Dade County for the purpose of paying debt service on the Performing Arts Center Bonds; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE OMNI 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 Executive Director is authorized to remit $1,430,000 of OMNI Tax Increment Funds to Miami -Dade County for the purpose of paying debt service on the Performing Arts Center Bonds. Section 3. This Resolution shall be effective upon its adoption. PASSED AND ADOPTED on this 251h day of February, 2002 W Arthur E. Teele, Jr., Chairman ATTEST: Sylvi Scheider, Acting Clerk of the Board APPROVED AS TO FORM i i c 02 - 20 1,,W IUMW J0 A' 11'1 CITY OF MIAMI Noz 8 0 CITY ATTORNEY'S OFFICE MEMORANDUM �� ~ TO: Annette Lewis, Acting Executive Director Community Redevelopment Agency FROM: Ilene Temchin, Assistant City Attorney J „ DATE: May 7, 2002 RE: Board Resolutions Your Memorandum of April 1, 2002 Attached are Items 5B and 6 from the February 25, 2002 CRA Board Meeting, revised as appropriate and approved by the City Attorney. Your memorandum of April 1, 2002 transmitting these items for execution by the City Attorney states that "there were no modifications made to the resolutions". This statement is inaccurate, as indicated below: • Item 513, Resolution 02-20: This Resolution was not presented for consideration at the meeting. Chelsa Arscott agreed to prepare the Resolution post -meeting. Thus, the item was "new". • Item 6, Resolution 02-38: Significant changes to this item were made on the floor, as indicated later in your memorandum. Since we did not receive from your office the transcript of the meeting referenced in your memorandum, we requested and received a copy of the transcript directly from the Clerk's Office. Please call me if you have any questions regarding the attached. IT/rmm Enclosure(s) cc: Alejandro Vilarello, City Attorney IT-CRA-Lewis memo 5-7-02 Ay �o q Cay q Mom.;. JZekVt4f*jkt4 Agwy MEMORANDUM DATE: February 15, 2001 TO: Honorable Arthur E. Teele, Jr. and Members of the CRA Board of Directors FROM: Annette E. Lewis, Acting Executive Director SUBJECT: Notice of Intent of the CRA to remit OMNI TIF to Miami -Dade County for the purpose of the Performing Arts Bond Issue This memorandum serves to notify you that the Acting Executive Director of the CRA intends to remit the maximum required by Interlocal Agreement between the Omni CRA and Miami -Dade County dated June 24, 1996, of $1.43 million of Omni TIF proceeds to the Performing Arts Center for the purpose of paying debt service. Below is the specific language from the Agreement indicating our liability. Excerpt from Section C (1) "PROJECT Financing" ".... . In furtherance of such expeditious utilization of such funds for the Performing Arts Center, the CRA shall remit to the COUNTY no later than March 31" each year, beginning with the first calendar year in which the COUNTY has bonds outstanding as of January I of such year, where issued for the purpose of financing the cost of construction of the Performing Arts Center ("the Performing Arts Center Bonds), up to, but not more than the first one million four hundred thirty thousand dollars ($1.43 million) of tax increment trust fund revenue for the purpose of paying debt service on the Performing Arts Center Bonds (the "County Debt Service Payment'), provided those funds are available in the Fund. The CRA's obligation to pay the $1.43 million each year shall cease at such time the COUNTY has no Performing Arts Center Bonds outstanding. If the COUNTY shall sell bonds or incur indebtedness with regard to the Performing Art Center, the COUNTY shall ensure that all documentation relating to such indebtedness or bonds shall limit the liability of the CRA to OW/CRA '02- 20 300 Biscayne Boulevard Way • Suite 430 9 Miami, Florida 33131 • Phone (305) 579-3324 9 Fax (305) 372-4646 Sep-19-2001 10:51 From-MDCPA 305-375-3024 T-461 P-003/003 F-525 Omni Final Tax Roll Values September 19, 2001 Year To al Value Taxa le V._alue 1986 277,510,225 246,898,862 1987 356,526,591 325,786,583 1988 348,752,760 319,954,647 1989* 352,654,773 323,613,930 1990 354,509,939 323,774,360 1991 352,593,935 320,976,606 1992 353,286,379 319,093,486 1993 333,689,218 299,565,666 1994 326,163,641 292,733,497 1995 321,532,238 284,102,844 1996 329,669,069 289,633,596 1997 329,802,457 288,386,684 1998 335,700,633 292,794,482 1999 348,642,393 299,609,822 2000* 370,869,577 319,956,451 2001* 430,103,965 365,770,339 *Preliminary Tax Roll Value 0M/& 02- 20 SECURITY FEATURES INCLUDE., VOID PAN PH, ERASABLE INK IN AMOUNTAREA AND BLEE U ARABIC AND MICR NUMBERING.- -. MIAm-DADE COUNTY, FLOR.IDA IAMI•DADE GENERAL OPERATING ACCOUNT ID OVER $618, 663. 00 %f UNION NATIONAL BANK OF FLORIDTHE SUM OF a b 18,6 b 3 dol s 0 0 cts AIAMI, FLORIDA FLORID 33131 SIX HUNDRED EIGHTEEN THOUSAND SIX HUNDRED, SIXTY THREE DOLLARS AND NO CENTS CITY OF MIAMI PO BOX 025441 M I AM I FL .33102- 5441 DATE CHECK NUMBER 12/ 14/20 000589-95 63-643 AMOUNT VOID AFTER 6 MONTHS s •'MIANI—DADS COUNfY..y:••:•. . MAYOR .• II'000S139:9S11' 1'0P.70064321:2P.962066'9CA6-910 12/14/2001 108 -00058995 DOCUMENT NUMBER DOC REF NUMBER AMOUNT DESCRIPTION VEBU02CIi )i 25 01 WR371 l-.06 618,663.00 FY2001-0 (TAX-YEAR2£)01) OMNI TAX INCREMENT -- VEBU0r200025 02 WR371606 .ISO `-DISTRICT PAYMENT �86 0 l 1 2/i4/2001 61L ,C.l-3.00 CITY OF M-FA;1I PO BOX %0221544-1 02— 20 SECURITY FEATURES INCLUDE- VOID PAN APH, ERASABLE INK IN AMOUNT AREA AND BLEED -MU ARABIC AND MICR NUMBERING MIAm-DADE COUNTY, FLORIDA AMI•DADE GENERAL OPERATING ACCOUNT ID OVER $548, 451. 00 NION NATIONAL BANK OF FLORIDAFL0D33131 A 4MI, LORIDA THE SUM OF a 5 4 8, 4 51 dol s 0 0 c is FIVE HUNDRED FORTY EIGHT THOUSAND FOUR HUNDRED, FIFTY ONE DOLLARS AND NO CENTS CITY OF MIAMI PO PDX 025441 MIAMI FL 3=:10-2-5441 c 89 DATE CHECK NUMBER J. 0005.:8-93 AMOUNT 63-643 670 *** *548 , 451 , 00 VOID AFTER 6 MONTHS k� ■ +: NIAMI= BADE COUHiY'.';`.`. couli vw .:`r�::.t � . ,..•� CLERK :;; 1160005897311' �� 06700643 2�� 269fi 0 6~95.68i81�' 596000375 06 12113/2001 108 -0005189., DOCUMENT NUMBER DOC REF NUMBER AMOUNT DESCRIPTION VEBU02 i0021'0 01 1 WR37I 607 548,451.00 •FY*X"2'001-0 (TAX -YEAR 2001) SEOTPW TAX INCREMENT— VE8U0 . 2 0 2O 02 WR3716 U7 .00 "-DISTRICT PAYMENT Do I 1.�/1:=:12-ml001 548,451 -00 CITY OF MIAMI PO PO 0-254t41 02— 20