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Home My WebLink AboutOMNI-CRA-R-02-0072OMNI/CKA ITEM 7B RESOLUTION N002- 072 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE OMNI COMMUNITY REDEVELOPMENT AGENCY ("CRA") ACCEPTING, APPROVING AND ADOPTING THE PROPOSED OPERATING AND TAX INCREMENT FINANCING BUDGETS FOR THE CRA FOR FISCAL YEAR ENDING SEPTEMBER 30, 2003 AND AUTHORIZING THE EXECUTIVE DIRECTOR TO TRANSMIT COPIES OF THE BUDGETS TO THE CITY OF MIAMI AND MIAMI-DADE COUNTY. WHEREAS, the- City of Miami approved and adopted the OMNI Community Redevelopment Plan pursuant to Resolution Nos. 86-868 and 86-607; and WHEREAS, the CRA is responsible for carrying out community redevelopment activities and projects in the OMNI Redevelopment Area established pursuant to the Redevelopment Plan; and WHEREAS, the Interlocal Agreement between the City of Miami and the Community Pedevelopment Agency, dated March 13, 2000, Section 6.1(b), requires the CRA to provide copies of its budgets to the City of Miami and Miami -Dade County. ONM/CRA 02- 072 t 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 Board of Directors hereby accepts, approves and adopts the proposed Operating and Tax Incasement Financing Budgets for the CRA for fiscal_ year ending September 30, 2003, and, further, authorizes the Executive Director to transmit copies of the budgets to the City of Miami and Miami -- Dade County. Section 3. This resolution shall be effective immediately upon its adoption. Page 2 of 3 0jaw au 02- 0r 'I PASSED AND ADOPTED this 26 1-h day of September,'2002. ATTEST: PRISCILLA A. THOMPSON CITY CLERK APPROVED AS TG AND CORREOT-NES X-JAI RO VILARELLO TYYTTORNEY /CRA R-02--72:ELF ARTHUR E, TEBLE, JR, CHAIRMAN Page 3 of 3 ()wfl-u/cplA 02- 072 ITEM V RESOLUTION NO. OMNI/CRA R- O a - 7 A A RESOLUTION OF THE BOARD OF DIRECTORS OF THE OMNI COMMUNITY REDEVELOPMENT AGENCY (CRA) ADOPTING THE PROPOSED OPERATING AND TIF BUDGETS FOR OMNI/CRA FISCAL YEAR ENDING SEPTEMBER 30, 2003 AND AUTHORIZING ITS TRANSMISSION TO THE CITY OF MIAMI AND MIAMI-DADS COUNTY WHEREAS, the City of Miami approved and adopted the OMNI Community 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 Interlocal agreement between the City of Miami and the Community Redevelopment Agency, dated March 13, 2000 Section 6.1(b), which requires transmission of same. 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 CRA Board of Directors hereby adopts the proposed Operating and TIF Budgets for OMNI/CRA Fiscal Year Ending September 30, 2003 and authorizes its transmission to the City of Miami and Miami -Dade County Section 3. This resolution shall be effective immediately upon its adoption. PASSED AND ADOPTED this 12th day of September, 2002. Arthur E. Teele, Jr., Chairman Priscilla A. Thompson Clerk of the Board APPROVED AS TO FORM AND CORRECTNESS: Alejandro Vilarello OMM/CRA. CRA General Counsel- 0 2 - 72 CRA AGENDA September 12, 2002 ITEM CITY OF MIAMI, FLORIDA INTER -OFFICE MEMORANDUM To: Chairman Arthur E. Teele, Jr. and Date: August 26, 2002 File: Members of the CRA Board Subject: CRA Proposed Operating and TIF Budgets for OMNI/ CRA Fiscal Year Ending September 30, 2003 From: Annette Lewis References: Acting Executive irector Enclosures: Resolutions RECOMMENDATION It is respectfully recommended that the CRA Board of Directors approve the attached resolution adopting the proposed Operating and TIF Budgets for OMNUCRA Fiscal Year Ending September 30, 2003 and authorizing its transmission to the City of Miami and Miami -Dade County JUSTIFICATION Annual fiscal requirement General Source: N/A Account Number: NIA OMNI/CRA 02- 72 CRA AGENDA September 12, 2002 CITY OF MIAM1 COMMUNITY REDEVELOPMENT AGENCY OPERATING BUDGET FOR FISCAL YEAR 2002-200, Budgeted Funding Source Descriptio Amount General Fund SEOPw OMN9 Salaries & Benefits: Classified 1 26, 726 126.726 Unclassified 494,336 494,336 Allowances 63,600 - 33,072 30,528 Severance Pay 6,211 - 3,230 2,981 Social Security Contribution 52,852 45,626 3,757 3.468 Group Health Insurance 45,000 23,400 21,600 Workers Compensation 1,553 807 745 Unemployment Compensation 6,211 3,230 2,981 Tuition Reimbursement 4,000 2,080 1,920 Employee Parking 14,625 7,605 7,020 815,113 666,688 77,181 71,244 - - Administrative Expenses: Clerk of the Board 49,000 29,400 19,600 General Counsel (with support) 160,646 96,388 64,258 Special Counsel (incl. litigation) - - - Profe-sional Services 125,000 65,000 60,000 y Other Conctractual 25,000 13,000 12,000 Accounting (non audit related) 35,000 18,200 16,800 Accounting & Audting Svcs. 40,000 20,800 19,200 Insurance -Liability 25,000 13,000 12,000 Rent - Buildings 99,150 51,558 47,592 Communication Expenses 15,000 7,800 7,200 Visitors Parking 5,375 2,795 2,580 Travel Training /Per Diem 15,000 7,800 7,200 594,171 325,741 268,430 Operating Expenses: Printing/Binding 45,000 22,500 22,500 Advertising 107,100 53,550 53,550 Equipment Rental/Leases (Operating) 35,000 17,500 17,500 Equipment Rental/Leases (Capital) - - - Postage 1,000 Soo Soo Delivery Services 8,500 4,250 4,250 Repairs/Maintenance 5,400 2,700 2,700 Office Supplies 8,500 4,250 4,250 Food/Beverages S,000 2,500 2,500 Miscellaneous supplies 5,000 2,500 2,500 ONI/CRA Page l of 2 c I CITY OF MIAMI COMMUNITY REDEVELOPMENT AGENCY OPERATING BUDGET FOR FISCAL YEAR 2002-2003 Budgeted Description mount General Fund Materials and Supplies 50,000 Books, Publication Memberships 10,000 290,500 1,689,784 666,688 Funding Source SEOPW 25,000 5,000 140,250 543,172 OMNI 25,000 5, OOo 140.250 479,924 0MINII / CRA 02- '72 Page 2 of 2 CRA FY'03 Proposed Final Budget OMNI TIF FY'02 FY'03 Amended Proposed Revenues Additional Description 059320 001 Taxes real current City of Miami portion of tax increment 1,015,786 2,014,417 Contribution from gov't - County County portion of tax increment 618,663 1,287,9S2 310 Appropriated Fund Balance Carryover of prior year fund balance 900,000 - Index 059320 2,534,449 3,302,369 059322 094 Interest on Investments 23,934 30,000 749 Gain/Loss on investments (4.339) (5,400) 19,595 24,600 Total revenues 2,554,044 3,326,969 Expenditures 590320 010 Salaries unclassified CPA employees & City Unclassified employees _ _ 100 Social Security Contrib. Social Security @ 7.65% _ 220 Professional svcs. - Appraisal Appraisal services - 5,000 230 Professional svcs. -Architectural Planning & Architectural services - 253,328 240 Professional scvs. -Engineering Engineering services 50,340 250 Professional scvs. -Legal Outside legal services 40,000 270 Professional Svcs. -other Services not otherwise specified 10,000 12,577 280 Professional Svcs. -Accounting & auditing Accounting and Auditing services _ _ 287 Advertising Required public notices & advertising 289 Special Svc. - miscellaneous City Atry/City Clerk costs (outsourced) _ _ 470 Entertainment Per diem expenses for invited guests of the Omni CF 2,450 5,000 �o 690 Promotional activities Promotional activities related to programs/projects 352,460 r 860 Construction in progress Construction expenses (bricks & mortar) i' 805,8S6 52,850 Contrib. to Performing Arts Center Bonds per 1996 (� 905 Intergovernmental charges Interlocal Agreement 1,430,000 1,430,000 Page 1 of 2 Revenues 940 Grants in aid (Business incentive program) Contribution to CRA Operations 996 Budget reserve Total expenditures Revenue minus expenditures CRA FY'03 Proposed Final Budget OMNI TIF Additional Description Authorized grants to community buisness/groups e General operating expenses Budgeted reserves from tax increment proceeds FY'02 Amended FY'03 Proposed t 80,000 150,135 z - 479,924 225,739 495,355 2,554,045 3,326,969 (0) Notation: The CPA anticipates minimum carryovers from the FY102 in the amount of $225,000 Budget Reserve 225,738 225,738 OMNI - Promotional/Respositioning Initiatives (a) Jazz and Blues District activity pending final recommendation from the City's Planning Department and final action by City Commission (b) Promotion & Incentives for film activity & special events within OMNI i.e. use of Big Time Studios {CRA Omni Reso. # 02-341 (c ) Marketing Campaign to position/re-position CRA as a Jaz & Blues desitination (i) Advertising in Jazz & Blues industry publications (ii) Re -positioning is designed to achieve pluralistic & cultural diversity in the Omni z Business Incentive Program - provides assitance to local business owners to defray costs i.e. WASA & FPL assessments I (0) Page 2 of 2 CITY OF MIAMI COMMUNITY REDEVELOPMENT AGENCY Community Development Funding Commitment Project - 799126 Source Revenues US Dept of HUD (28th Year) US Dept of HUD (27th Year) Prior year revenue approp. Micro Loan HOPWA US Dept of HUD/CLUC Prior year revenue approp./CLUC Job Creation (27th Year) Job Creation (prior years) CDBG Program Income HOME CDBG-Year l(Unfunded - FY'00) CDBG - Year 2 (Unfunded - FY 01) CDBG - Year 3 (Unfunded - FY'02) CDBG - Year 3 (Unfunded - FY'03) US Dept of HUD/Capital Improvement 00 FY'03 FY'01 FY'01 FY'02 Funding Budeet Actual YTD Projected Projected 379,000 270,651 379,900 379,900 - 102,046 1,000,000 548,584 250,000 - 500,000 - 500,000 471,770 1,000,000 500,000 100,000 100,000 100,000 200,000 300,000 400,000 500,000 500,000 - 524,000 786,322 1,311,610 3,000,000 3,000,000 3,000,000 1 Cth comm"mem m FY'0o 5 years 5 million (Cih Ordinance 11736) 5'000,000 5,000,000 5,000,000 1 Cih comrmtmeln in FY'00 5 years 5 million (City Ordinance 11736) - - 5,000,000 5,000,000 1 City commitment in FY'oo 5 pears 5 million (Cit., Ordinance 1 1736) - - 5,000,000 1 Cih, commitment in FY'00 5 leers 5 million (Cih ordinance 11736) 3 000 000 996 426 1800 2 0 Total 3,213,269 Combined balance of $3.0 M priorty business corridor + s2 oM (Cm Reso 99.592) 16,249,770 1,915,661 18,116,222 23,978,595 Total net of CDBG commitments 5,979,595 The budget presented above requires final verificaiton by the City's Community Development Department 1 The CRA has requested the Department of Community Development to pro% ide funding based upon obtaining a Section log Loan up to an appropriate amount L bala= rexrvaa for Ad A%wm hatenaton of 9ta street Mail onguW appropriations pnsentm bet — Portion expended from original $2.0 of HUD appropriation 548,584 CPA expended from $3.0M 3rd Avenue Corridor 1,024,824 Balance of $3.OM & $2.OM reallocated to CIP 3,426,592 S213, 323.32 expended for pabse 1 of undergroundplacement -balance reflected above $ 5,000,000 O F La a w co AGENCY NAME: Commuunity Redevelopment Agency PROGRAM: All TO 28TH YEAR Original � ota mount Balance o Budget Drawn Project PROJECT TITLE tr �� CRA- HOME PRIOR YEAR 786,966.00 ..,`` - Y 786,966.00 CRA- HOME 28TH YEAR 262,322.00 :d 262,322.00 CRA- HOME 27TH YEAR 262,322.00.; a - 262,322.00 OPERATING - 28TH YEAR 379,900.00 379,900.00 OPERATING - 27TH YEAR 379,000.00 µ'= 276,954.03 y;. E: 102,045.97 OPERATING -26TH YEAR 379,000.00v<4; 379,000.00j: - OPERATING - 25TH YEAR 379,000.00- 379,000.00- CRA - CLUC90 PRIOR YEAR 300,000.00 .'fir - 'T 300,000.00 CRA - CLUC90 28TH YEAR 100,000.00 s '' ` 100,000.00 CRA - CLUC90 27TH YEAR 100,000.00 - 100,000.00 OVERTOWN OPTIMIST CLUB 94,847.00 : 2,515.00 -- 92,332.00 MICRO LOAN - PRIOR YEAR 471,770.00 - 471,770.00 CPA - Southeast Overtown Park 548,583.61 ., r 548,583.61 = - CRA-HISTORIC OVERTOWN 1,024,824.49 £ 1,024,824.49 " - CapitalImrpovement 3,426,591.90 213,323.32 ,<t: 3,213,268.58 $8,895,1 a7.00 $2,824,200.45 $6,070,926.55 TOTALS :. +;