The URL can be used to link to this page

Home My WebLink AboutSEOPW-CRA-R-02-0113SEOPW/CRA ITEM 1 SEOi'WIC RESOLUTION NO. 0 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SOUTHEAST/OVERTOWN 'PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("CRA") APPROVING AN AMENDMENT TO THE FISCAL YEAR 200� BUDGET, ATTACHED AS EXHIBIT " A",.AND AUTHORIZING THE EXECUTIVE DIRECTOR TO TRANSMIT THE AMENDED BUDGET FOR FISCAL YEAR 2002 TO MIAMI-DADE COUNTY. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE SOUTHEAST OVERTOWN/PARK WEST 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 approves an amendment to the fiscal year 2002 budget, attached as Exhibit A", and authorizes the Executive Director to transmit the amended budget for fiscal year 2002 to Miami -Dade County. Section 3. The Resolution immediately upon its adoption. shall be effective SEOPW/CRA, 02, — 113 PASSED AND ADOPTED this 13th day of June 2002. ATTEST: PRISCILLA A. THOMPSON, CITY CLERK APPROVED AS TO FORM AND.. COS 4CTW SS: EJ DRU VILARELLO, CI ATTORNEY S'OPW/CRA R-02-113: ELF ARTHUR E. TEELE, JR., CHAIRMAN Page 2 of 2 0- l i SEOPW AND OMNI/CRA CITY CLERK'S REPORT MEETING DATE: June 13, 2002 ITEM 1 A RESOLUTION OF THE BOARD OF DIRECTORS OF COMMUNITY REDEVELOPMENT AGENCY (CRA) APPROVING AN AMENDMENT TO THE FISCAL YEAR 2002 BUDGET (AMENDED BUDGET) ATTACHED HERETO AS EXHIBIT " A", AND TRANSMIT TO M?AMI DADE COUNTY. ITEM 1 Direction to the CRA Executive Director: by Chairman Teele to schedule on the next regular agenda the request for qualifications or a competitive process for the external auditor; further requesting the City Manager to chair that committee. Vice Chairman Winton further requested to have the auditors present during the next meeting. Note for the Record: Chairman Teele requested the., City Manager to arrange a meeting including Mayor biaz before June 241h regarding the CRA boundaries. Page No. 6 SEOPW/CRA RESOLUTION 02-113 OMNI/CRA RESOLUTION 02-48 MOVED: WINTON SECONDED: SANCHEZ UNANIMOUS SEOPW / CRA, o - 113 June 13,2002 CITY OF MIAMI, FLORIDA INTER -OFFICE MEMORANDUM. ITEM I Chairman Arthur E. Teele, Jr. and June 13, 2002 ro; Members of the CRA Board DATE: FILE: Annette E. Lewis :ROM:Acting Executive Director, RA SUBJECT: FY '02 budget amendment REFERENCE., Resolution, supporting documents ENCLOSURES: RECOMMENDATION It is respectfully recommended that the CRA Board of Directors approve the attac4ed resolution amending the Southeast Overtow.n Park West operating budget and authorizing its transmittal to Miami Dade County the adjusted budget for fiscal year 2002. BACKGROUND The modifications are based upon the completion audit work for fiscal years 2000 and 2001, as it relates to beginning balances. The proposed amendments are substantially "roll overs of beginning TIF balances and consideration of subsequent events (post September 2001).that were not contempl ated in the original budget forecasts. AdoRted Amended Difference Comments TIF. $ 2,088,785 $ 6,336,960 $4,248,175 Sale of Park Place, Fannie Mae Loan, Fund Balance, Vectour lease. General Fund: $ 5,166,764 $1,688,388 ($3,478,376) Sale'ofPownhomes, Rollover fund balance, Vectour lease. SEOPW/CRA 02- 1-13 CITY OF MIAAMI COMMUNITY REDEVELOPMENT AGENCY Southeast Overtown Park West Tax Increment Project - 689001 FY'01 FY'02 Budget Budget Source GaimUss Investment Revenues SEOPWRedevelopment -TiTaxes Real Current 574,104 852,854 Rental Property 90,155 Interest on Investment - 65,000 Transfer in from CD - 0 Park Place - 2,213,500 1995 Special Non-Advalorem Revenue Bc 2,000,000 - Contr. From Other Govt. Cnty. 370,758 548,451 Carryover Fund Balance 1,000,000 Gain/Loss Investment -8,000 Fannie Mae Loan proceeds 1,575,000 2,944,862 6,336,960 Expenditures Professional Services - Legal - 300,000 Professional Services -Other 200,000 661,108 Professional Services - Accounting - 50,000 Other Contractual Services 134,000 137,177 Interest Expense 56,600 57,675 Land 61,200 1,500,000 Equipment Construction in Progress 493,062 1,200,000 Fannie Mae (ApplicationFee) - 6,000 Fannie Mae Collateral. Account 393,750 Construction in Progress -Grants 1,181,250 Adminstative Bldg 2,000,000 - Grants in Aid 850,000 Budget Reserve - - w 2,944,862 6,336,960 --d 05/02 . 1� 513=002e:09 AM CITY OF MIAMI COMMUNITY REDEVELOPMENT AGENCY Southeast Overtown Park West General Operating Project - 689004 FY'01 FY'02 Budget Budget Source Revenues Gen. Oper. Rental Properties 90,155 - Interest on Investment 90,000 21,000 Transfer from CD' 379,000 - Contribution from Gen. Fnd.-General Fund supporl 279,488 279,488 Carryover Fund Balance 1,460,948 - Contrib. from Guaranteed Entitlement 300,000 Contrib. from Off Street Parking 150,000 Impact Fees 150,000 - General Fund Human Resources Support - - - Sale of Townhomes - 1995 Special Non-Advalorem Revenue Bonds 2,000,000 - Contribution from CD Admin 487,900 Appropriatied Fund Balance 900,000 4,899,591 1,688,388 Expenditures Salaries -Class. Perm. FT. 111,805 125,749 Earned Time Payoff 1,000 1,000 Salaries-Unclassfied 590,000 402,872 Expenses Allowance 18,000 18,000 Car Allowance 16,000 16,000 Social Security Contrib. 49,500 43,117 Group Insurance Contrib. 18,695 19,533 Worker's Compensation 58,323. 290 Unemployment Compensation - - M Severance Pay 10,000 8,500 Tuition Reimbursement 51000 5,000 Professional Services- Architect 50,000 16,300 l Professional Services- Legal 302,884 163,200 5/30/20028:50 AM CITY OF MIAMI COMMUNITY REDEVELOPMENT AGENCY Southeast Overtown Park West General Operating Project - 689004 0 C.� 5/30/20028:50 AM Source Professional Services- Other Professional Services- Acct'g Advertising Taxes Other Contractual Services Travel and Per Diem - Training Travel and Per Diem - Other Parking Expenses Communications Serv. Telephone Postage Delivery Services Utility Services -Water Interest Expense Rent of Equipment - Outside Rent Building Insurance Liability Repair/Maintenance - Outside Printing/Binding - Outside Promotional Activities Office Supplies Food Miscellaneous Supplies Books and Publication Land Equipment - New Office Furniture - New Equipment Lease - Purchased Construction in Progress Intrafund Loan to OMNI Personal Services Materials and Supplies FY'01 I Y'02 Budget Budget 35,700 403,000 55,000 23,300 99,000 95,000 4,000 2,500 344,000 50,000 6,000 3,000 15,000 10,690 8,500 25,000 12,000 49,000 4,000 1,500 6,500 7,094 3,000 9,800 300,000 - 15,000 17,000 51,000 88,000 15,500 5,700 14,500 12,500 58,583 20,000 40,000 95,000 35,000 15,000 24,000 12,343 2,000 1,500 7,000 8,800 19,000 - 15,500 5,00.0 15,000 15,000 10,000 - 272,738 50,000 - - 30,000 60,000 CITY OF MIAMI COMMUNITY REDEVELOPMENT AGENCY Southeast Overtown Park West General Operating project - 689004 Source Other Grants and Aids Rehabilitation Grant Awards Allocation to City Clerk & Attorney Budget Reserve FY'01 FY'02 Budget Budget 15,000 95,000 - 15,000 100,000 6,583 - 2,915,311 1,580,388 } C 1 � 1� Ct? &30/20028:50 AM C 1 � 1� Ct? &30/20028:50 AM r r CITY OF MIAMI COMMUNITY REDEVELOPMENT AGENCY Southeast Overtown Park West Redevlopment Projects Project-689005 Revenues Expenditures Revised 05/02 6 0 w 00/20028.43 AM CITY OF MIAMI COMMUNITY REDEVELOPMENT AGENCY Southeast Overtown Park West Redevlopment Projects Project-689005 Revenues Expenditures Revised 05/02 6 0 w 00/20028.43 AM FY'01 FY'01 . FY'02 Budget Actual YTD Projected Source Interest on Investments - 13,213 13,213 Transfer from Community Deve - 184,172 - Fannie Mae - 1,200,000 - Carryover Fund Balance 375,000 - 833,520 375,000 1,397,385 846,733 Construction in Progress - (7,762) 13,213 Aid to Private Organizations 375,000. 375,000 - - 1,200,000 933,520 Budget Reserve - - - 375,000 1,567,238 846,733 CITY OF MIAMI COMMUNITY REDEVELOPMENT AGENCY Community Development Funding Commitment Project- 799126 FY'02 FY'01 Funding Bud ¢et Proiected Source Revenues US Dept of HUD 379,000 487,900 Prior year revenue approp. 1,000,000 250,000 Prior year revenue approp./Micro Loan 471,770 - US Dept of HUD 225,000 - Prior year revenue approp. 350,000 - Micro Loan 500,000 500,000 *`Funds repined HOPWA 1,000,000 500,000 US Dept of HUD/CLUC 100,000 100,000 Prior year revenue approp./CLUC 200,000 300,000 CDBG Program Income 500,000 500,000 HOME 524,000 786,322 CDBG-Year l(Unfunded - FY'00) 3,000,000 3 3,000,000 CDBG- Year 2 (Unfunded - FY 01) 5,000,000 5,000,000 2 CDBG - Year 3 (Unfunded = FY'02) - 5,000,000. 2 US Dept of HUD 3,000,000 1,800,000 16,249,770 18,224,222 Expenditures Rehabilitation Grant Awards 319,000 Contribution to Spec. Revenue - - Prior Year Cost Allocation/CD funds 1,000,000 250,000 Prior Year Cost Allocation/Micro Loan 471,770- Rehabilitation Grant Awards 225,006 - Prior Year Cost Allocation 350,000 - Prior Year Cost Allocation/HOPWA 1,000,000 - Rehabilitation Grant Awards/CLUC 100,000 100,000 Prior Year Cost Allocation/CLUC 200,006 200,000 Contribution to Spec. Revenue/CDBG 885,086 - Prior Year Cost Allocation/CDBG 2,114,914 1,800,000 Transfer out/admin support 487,900 Projects & Programs - 15,386,322 6,725,770 18,224,222 '.CDBG Unfunded amount of S3M from prior year 2 Source of funding not yet determined by Community Development 5/30120028:54 AM Revised 9117101 V.-tronic Excel Form City of Miami Southeast Overtown Park West (SEOPW) railable call 305-375-5143 Community Redevelopment Agency 5k for Tom FY 2001 - 2002 Proposed Budget (round all dollars to nearest $100) Y 01-02 begins October 1, 2001) FY 99-00, FY 99-00 FY 00-01 FY 00-01 FY 01-02 �Y� � �i�+ t z� i 7 � � � ' 1 � '4�J � §� 3 t td. .✓� � f k P } 'M� " '� 1 � Y k I �a�i T�`i`�-' 4�r r ��' °r� tP ��yl :�+ A��n�a�: Sia!:� Y ��'r �' -W �:Cit �'� C: "`': 1Gs � �i5'f�Y 1 �, 5 Y 4� yX xi�: LJ j'E'a �i��`u''��fll.�h� � 1 /{ A S�F�W'•U: ,V' rii t ' r��f':id � AC.�{i .. �,i�'�� !.C, i' 'u� y � �k g �� a �r � ;' �}hi i � '^ �_... '�Sz.z, �%•�� <.,fl ��x�L ,::.�'� rTax Increment Revenue aunty Tax Increment Revenue arryoverfrom prior year ale of leasehold interest Dntal income ansfers in from others (name) and proceeds-COM 1995 Admin Bldg. terest earnings 1 zrnSeg iG' � 7h"� ' fiYr�t x` '� (5 F��Y�� Snr. J� fir+ �. , } ,1 � i11tF 'l�':}1 �� I :. M. I � i7� �.++wnl.ia7.:.xh`:Ra:.aNa: &'i...:rs M. ...lh'.:i_... $352,718 $353,879 $574,104 $574,104 $801,316 $217,103 $283,409 $370,758 $370,758 $548,451 $2,151,696 $0 $1,000,000 $6,155 $2,213,500 $75,000 -$9,375 $90,155 $634,439 $1,575,000 $2,000,000 $2,250,000 $44,615 $98,550 $42,000 zy�� /n kk� 3' � t3 � `''�, Y' _.: ., �P ;.r .. _. �fi� - 1 if § �., ... .¢ 1' � i� 1 ..F. i i:w� �� .L �}} y{�� s " 'N� , T IV F, -- 1 .:., !� J +' r� '"i' �2f -_f;,u: t, .. ,, 1 ra. s'= ninistrative Expenditures,SO Employee salary and fringe ,ontractual services Insurance Audits and studies Printing and publishing Marketing Advertising and notices Travel Rent/lease costs Df6ce equipment and furniture ether Admin. Exps (attach list) total Admin Expenses ng. Expenditures:.. employee salary and fringe Contractual services Insurance Audits and studies Printing and publishing Marketing Special events. -egal services/court costs -and/building acquisitions nfrastructure improvements 3uilding construction & improves Debt service payments Redevelopment grants given out Redevelopment loans issued out transfers out to others Dther Oper. Expenses (attach list) Subtotal Open Expenses. Reserve/Contingency EMMMI. - w 1 ui 0 i s Ix $91,476 $26,465 $0 $100,000 $100,000 $20,000 i $0 $50,000 `,x.:9� , $0 $264,000 $264,000 $696,747 $0 $0 $0 $15, 000 $0 $300,000 $61,200 $61,200 $1,893,750 $1,181,250 $463,062 $463,062 $1,200,000 $175,979 $56,600 $56,600 $63,675 $650,000 $200,000 $2,289,353 $1,073,011 $2,289,353 $1,248,990 $844,862 $844,862 $6,200,422 $460,297 $0 $0 $0 $0 . Y3#� r0�i n n , ��, � ,�+'a {�1 �xv�t it ,�'z #.. yp�' . �S,hl� ii 5'. �'ls.:4.Y IY(Wt5 fI t F`. lSlf�n if �e/7Cp he �3 a �°? � � >+rr_11.N' w t�l_. } '. Six. T.1'.:. l '' ...._ n ,,. •1a... :.�• .... � �i �' `�� 1 .. ,,, x� #x' .'i ,... _.»� �",�i i�s,.tl`T . �. f., 1.. Redevelopment Projects List FY 99-00 FY '99-00 FY 00-01 FY 00-01 FY 01-02 Planned. Actual Planned Projected Proposed ect narhe;include begin/end dates ject name;include begin/end dates Ject name;include begin/end dates ect name;include begin/end dates ',itional projects - attach list CRA audit work papers CITY OF MIAMI SOUTHEAST OVERTOWN PARK WEST REDEVELOPMENT REDEVELOPMENT AGENCY Balance Sheet Special Revenue Fund Balance as of Balance as of Balance as of Balance as of 9/30/2000 913012000 9/30/2001 9/30/2001 General TIF General TIF Assets: Equity in pooled cash 2,025,031 1,939,316 2,447,697 1,156,565 Due from other fund 50,340 353,649 - 375,000 Due from other governments - 60,000 - - Note receivable - 63,427 - - Reserve for note receivable - (63,427) - Interest receivable - 12,220 17,246 45,003 Restricted cash - Fixed assets - - - - Other debits - - - - Amounts available in dabs service -special - - - - obligation bonds and loans - Amount to provided for retirement of - - - - special obligation bonds and loans - - - Total assets and other debits 2,075,371 2,365,185 2,464,943 1,676,568 ,iabilities & Fund Balances. .. Accounts payable and accrued liabilities 224,540 293,576 1,084,343 135,248 Due to other funds . 353,649 50,340 375,000 - Due to other government - 663,895 3,100 528,636. Debt Service payment payable - - - - Interest payable - - - Special obligation bonds and loans - - - Total liabilities.and fund balance 578,189 1,007,811 1,462,443 663,884 4. Fund balances and other credits: - Investment in general fixed assets - - - Fund balance reserved for encumbrances - - - •., Reserved for debt service - - - - Unreserved: - - - • Designated for future capital projects - - Undesignated 1,497,182 1,357,374 1,002,500 912,684 . Total fund balance (deficit) and other credits 1,497,182 1,357,374 1,002,500 912,684 Total liabilities, fund balance and other credits 2,075,371 2,365,185 2,464,943- 1,576,568 June 13, 2002 ITEM 1 RESOLUTION NO. SEOPW/CRA R- 0 2- 113 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SOUTHEAST OVERTOWN PARK WEST (SEOPW) COMMUNITY REDEVELOPMENT AGENCY (CRA) APPROVING AN AMENDMENT TO THE FISCAL YEAR 2002 BUDGET (AMENDED BUDGET) ATTACHED HERTO AS EXHIBIT " A", AND TRANSMIT TO MIAMI DADE COUNTY. 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 of the CRA approves the amended budget attached as Exhibit A and incorporated herein by reference. Section 3. This resolution shall be effective immediately upon its adoption. PASSED AND ADOPTED this 30th day of May, 2002. Priscilla Thompson Clerk of the Board APPROVED AS TO FORM AND CORRECTNESS: Alejandro Vilarello CRA General Counsel r' Arthur E. Teele, Jr., Chairman SEOPW/CRA 02- 113 June 13, 2002 CITY OF MIAMI, FLORIDA INTER -OFFICE MEMORANDUM rO. Chairman Arthur E. Teele, Jr. and Members of the CRA Board Annette E. Lewis -ROM, Acting Executive Director, PRA ITEM 1 June 13, 2002 DATE: FILE: SUBJECT: FY '02 budget amendment REFERENCES: Resolution, supporting documents ENCLOSURES: RECOMMENDATION It is respectfully recommended that the CRA Board of Directors approve the attached resolution amending the Southeast Overtown Park West operating budget and authorizing its transmittal to Miami Dade County the adjusted budget for fiscal year 2002. BACKGROUND The modifications are based upon the completion audit work for fiscal years 2000 and 2001, as it relates to beginning balances. The proposed amendments are substantially "roll overs" of beginning TIF balances and consideration of subsequent events (post September 2001) that were not contemplated in the original budget forecasts. Adopted Amended Difference Comments TIF: $ 2,088,785 $ 6,336,960 $4,248,175 Sale of Park Place, Fannie Mae Loan, Fund Balance, Vectour lease. General Fund: $ 5,166,764 $1,688,388 ($3,478,376) Sale of Townhomes, Rollover fund balance, Vectour lease. SEOPW / CRA 02- 113 CITY OF MIAMI COMMUNITY REDEVELOPMENT AGENCY Southeast Overtown Park West Tax Increment Project - 689001 FY'01 FY'02 Budget Budget Source Gain/Loss Investment Revenues SEOPW Redevelopment - Tt Taxes Real Current 574,104 852,854 Rental Property 90,155 Interest on Investment - 65,000 Transfer in from CD 0 Park Place - 2,213,500 1995 Special Non-Advalorem Revenue Br 2,000,000 - Contr. From Other Govt. Cnty. 370,758 548,451 Carryover Fund Balance 1,000,000 Gain/Loss Investment -8,000 Fannie Mae Loan proceeds 1,575,000 2,944,862 6,336,960 Expenditures e.m cb C Re, ised 05/02 mow,+ 5/30/20029 09 AM Professional Services - Legal Professional Services- Other Professional Services - Accounting Other Contractual Services Interest Expense Land Equipment Construction in Progress Fannie Mae (ApplicationFee) Fannie Mae Collateral Account Construction in Progress -Grants Adminstative Bldg Grants in Aid Budget Reserve - 300,000 200,000 661,108 - 50,000 134,000 137,177 56,600 57,675 61,200 1,500,000 493,062 1,200,000 - 6,000 393,750 1,181,250 2,000,000 - 850,000 2,944,862 6,336,960 F r I CITY OF MIAMI COMMUNITY REDEVELOPMENT AGENCY Southeast Overtown Park West General Operating Project - 689004 Revenues Gen. Oper Expenditures d G 5/30/20028:50 AM FY'01 FY'02 Budget Budget Source Rental Properties 90,155 Interest on Investment 90,000 21,000 Transfer from CD 379,000 - Contribution from Gen. Fnd.-General Fund supporl 279,488 279,488 Carryover Fund Balance 1,460,948 - Contrib. from Guaranteed Entitlement 300,000 - Contrib. from Off Street Parking 150,000 - Impact Fees 150,000 - General Fund Human Resources Support - - Sale of Townhomes _ 1995 Special Non-Advalorem Revenue Bonds 2,000,000 - Contribution from CD Admin 487,900 Appropriatied Fund Balance - 900,000 4,899,591 1,688,388 Salaries -Class. Perm. FT. 111,805 125,749 Earned Time Payoff 1,000 1,000 Salaries-Unclassfied 590,000 402,872 Expenses Allowance 18,000 18,000 Car Allowance 16,000 16,000 Social Security Contrib. 49,500 43,117 Group Insurance Contrib. 18,695 19,533 Worker's Compensation 58,323 290 Unemployment Compensation - - Severance Pay 10,000 8,500 Tuition Reimbursement 5,000 5,000 Professional Services- Architect 50,000 16,300 Professional Services- Legal 302,884 163,200 CITY OF MIAMI COMMUNITY REDEVELOPMENT AGENCY Southeast Overtown Park West General Operating Project - 689004 FY'01 FY'02 Budget Budget Source Professional Services- Other 35,700 403,000 Professional Services- Acct'g 55,000 23,300 Advertising 99,000 95,000 Taxes 4,000 2,500 Other Contractual Services 344,000 50,000 Travel and Per Diem - Training 6,000 3,000 Travel and Per Diem - Other 15,000 10,690 Parking Expenses 8,500 25,000 Communications Serv. Telephone 12,000 49,000 Postage 4,000 1,500 Delivery Services 6,500 7,094 Utility Services -Water 3,000 9,800 Interest Expense 300,000 - Rent of Equipment - Outside 15,000 17,000 Rent Building 51,000 88,000 Insurance Liability 15,500 5,700 Repair/Maintenance - Outside 14,500 12,500 Printing/Binding - Outside 58,583 20,000 Promotional Activities 40,000 85,000 Office Supplies 35,000 15,000 Food 24,000 12,343 Miscellaneous Supplies 2,000 1,500 Books and Publication 7,000 8,800 Land 19,000 - Equipment - New 15,500 5,000 Office Furniture - New 15,000 15,000 Equipment Lease - Purchased 10,000 - Construction in Progress 272,738 - Intrafund Loan to OMNI - _ Personal Services 50,000 - Materials and Supplies 30,000 60,000 5/30/20028:50 AM CITY OF MIAMI COMMUNITY REDEVELOPMENT AGENCY Southeast Overtown Park West General Operating Project - 689004 FY'0I FY'02 Budget Budget Source Other Grants and Aids 15,000 Rehabilitation Grant Awards 95,000 - Allocation to City Clerk & Attorney 15,000 100,000 Budget Reserve 6,583 - 2,915,311 1,580,388 5/30/20028:50 AM FA CITY OF MIAMI COMMUNITY REDEVELOPMENT AGENCY Southeast Overtown Park West _Redevlopment Projects Project - 689005 FY'01 FY'01 FY'02 Budget Actual YTD Proiected Source Revenues Interest on Investments - 13,213 13,213 Transfer from Community Deve - 184,172 - Fannie Mae - 1,200,000 - Carryover Fund Balance 375,000 - 833,520 375,000 1,397,385 846,733 Expenditures Construction in Progress - (7,762) 13,213 Aid to Private Organizations 375,000 375,000 - - 1,200,000 833,520 Budget Reserve - - - 375,000 1,567,238 846,733 Revised 05/02 O � rGb G 5/30/20028:43 AM If 4 CITY OF MIAMI COMMUNITY REDEVELOPMENT AGENCY Community Development Funding Commitment Project - 799126 Revenues " Funds replaced Expenditures G-1 Ct! Source US Dept of HUD Prior year revenue approp. Prior year revenue approp./Micro Loan US Dept of HUD Prior year revenue approp. Micro Loan HOPWA US Dept of HUD/CLUC Prior year revenue approp /CLUC CDBG Program Income HOME CDBG-Year I(Unfunded - FY'00) CDBG - Year 2 (Unfunded - FY 01) CDBG - Year 3 (Unfunded - FY'02) US Dept of HUD Rehabilitation Grant Awards Contribution to Spec. Revenue Prior Year Cost Allocation/CD funds Prior Year Cost Allocation/Micro Loan Rehabilitation Grant Awards Prior Year Cost Allocation Prior Year Cost Allocation/HOPWA Rehabilitation Grant Awards/CLUC Prior Year Cost Allocation/CLUC Contribution to Spec. Revenue/CDBG Prior Year Cost Allocation/CDBG Transfer out/admin support Projects & Programs FY'02 FY'01 Funding Bud¢et Projected 379,000 487,900 1,000,000 250,000 471,770 - 225,000 350,000 - 500,000 500,000 1,000,000 500,000 100,000 100,000 200,000 300,000 500,000 500,000 524,000 786,322 3,000,000 ' 3,000,000 1 5,000,000 5'000,000 z - 5'000,000 Z 3,000,000 1,800,000 16,249,770 18,224,222 379,000 1,000,000 250,000 471,770 - 225,000 350,000 t 000 000 100,000 100,000 200,000 200,000 885,086 - 2,114,914 1,800,000 487,900 - 15,386,322 6,725,770 18,224,222 0 h�d! rl CDBG Unfunded amount of $3M from prior year Source of funding not yet determined by Community Development 5/30/20028:54 AM Revised 9/17101 ectronic Excel Form City off -Miami Southeast Overtown Park West (Sr')PW) milable call 305-375-5143 imunity Redevelopment Agency 3k for Tom FY 2001 - 2002 Proposed Budget (round all dollars to nearest $100) Y 01-02 begins October 1, 2001) FY 99-00 FY 99-00 FY 00-01 FY 00-01 FY 01-02 venues Budget Budget Budget Budget Budget Adopted Actual Adopted Projection Proosed Tax Increment Revenue )unty Tax Increment Revenue arryover from prior year ale of leasehold interest mtal income ansfers in from others (name) and proceeds-COM 1995 Admin Bldc terest earnings venue Total penditures Iministrative Expenditures: Employee salary and fringe Contractual services Insurance Audits and studies Printing and publishing Marketing Advertising and notices Travel Rent/lease costs Office equipment and furniture Other Admin. Exps (attach list) 4Subtotal Admin Expenses ating Expenditures: cmployee salary and fringe Contractual services Insurance Audits and studies Printing and publishing Marketing Special events Legal services/court costs Land/building acquisitions Infrastructure improvements Building construction & improves Debt service payments Redevelopment grants given out Redevelopment loans issued out Transfers out to others Other Oper. Expenses (attach list) Subtotal Oper. Expenses Reserve/Contingency penditure Total (A+B+C) $352,718 $353,879 $574,104 $574,104 $801,316 $217,103 $283,409 $370,758 $370,758 $548,451 $2,151,696 $0 $1,000,000 $6,155 $2,213, 500 $75,000 -$9,375 $90,155 $634,439 $1,575,000 I. $2,000,000 $2,250,000 $44,615 $98,550 $42,000 $2,841,132 $1,367,057 $2,944,862 $3,194,862 $6,270,422 $91,476 $26,465 $0 $100,000 $100,000 $20,000 $0 $50,000 $91,476 $26,465 $100,000 $100,000, $70,000 $0 $264,000 $264,000 $696,747 $0 $0 $0 $15,000 $0 $300,000 $61,200 $61,200 $1,893,750 $1,181,250 $463,062 $463,062 $1,200,000 $175,979 $56,600 $56,600 $63,675 $650, 000 $200, 000 $2,289,353 $1,073,011 $2,289,353 $1,248,990 $844,862 $844,862 $6,200,422 $460,297 $0 $0 $0 $0 $2,841,1261 $1,275,4551 $944,8621 $944,862 $6,270,422 sh Position (Rev-Exp) Redevelopment Projects List FY 99-00 FY 99-00 FY 00-01 FY 00-01 FY 01-02 Planned Actual Planned Projected Proposed cts: ject name;include begin/end dates ject name;include begin/end dates ject name;include begin/end dates ject name;include begin/end dates iitional projects - attach list Expenditures Expenditures Expenditures Expenditures Expenditures CRA audit work papers CITY OF MIAMI SOUTHEAST OVERTOWN PARK WEST REDEVELOPMENT REDEVELOPMENT AGENCY Assets: Equity in pooled cash Due from other fund Due from other governments Note receivable Reserve for note receivable Interest receivable Restricted cash Fixed assets Other debits Amounts available in debs service -special obligation bonds and loans Amount to provided for retirement of special obligation bonds and loans Total assets and other debits ,• Liabilities & Fund Balances Accounts payable and accrued liabilities Due to other funds Due to other government Debt Service payment payable Interest payable Special obligation bonds and loans Total liabilities and fund balance 1 Fund balances and other credits: Investment in general fixed assets Fund balance reserved for encumbrances Reserved for debt service Unreserved: Designated for future capital projects Undesignated Total fund balance (deficit) and other credits Balance Sheet Special Revenue Fund Balance as of Balance as of Balance as of Balance as of 9/30/2000 9/30/2000 9/30/2001 9/30/2001 General TIF General TIF 2,025,031 1,939,316 2,447,697 1,156,565 50,340 353,649 - 375,000 - 60,000 - - 63,427 - - (63,427) - - 12,220 17,246 45,003 2,365,185 2,464,943 2,075,371 1,576,568 224,540 293,576 1,084,343 135,248 353,649 50,340 375,000 - - 663,895 3,100 528,636 1,007,811 1,462,443 578,189 663,884 1,497,182 1,357,374 1,002,500 912,684 1,497,182 1,357,374 1,002,500 912,684 Total liabilities, fund balance and other credits 2,075,371 2,365,185 2,464,943 1,576,568 SEOPW / CRA 02-4 1,13 June 13, 2002 Chairman Arthur E. Teele, Jr. and Members of the CRA Board Annette E. Lewis Acting Executive Director, CRA ITEM 1 May 30, 2002 FY '02 budget amendment Resolution, supporting documents RECOMMENDATION It is respectfully recommended that the CRA Board of Directors approve the attached resolution amending the OMNI operating budget and authorizing its transmittal to Miami Dade County the adjusted budget for fiscal year 2002. BACKGROUND The modifications are based upon the completion audit work for fiscal years 2000 and 2001, as it relates to beginning balances and the allocation of $2.5M from the City of Miami Homeland Defense Bond Fund proceeds. Adopted Amended Difference Comments $ 4,054,015 $6,377,505 $2,323,490 City of Miami Homeland Defense Bond Funding SEOPW / CRA O2_.�