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Home My WebLink AboutSEOPW-CRA-R-02-0146SEOPW/.CRA 'ITEM 7A 02- 146 RESOLUTION NO. A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SOUTHEAST OVERTOWN/PARK WEST 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 Southeast Overtown/Park West Community Redevelopment Plan pursuant to Resolution Nos. 82-755 and 85-1247; and WHEREAS, the CPA is responsible for carrying out community redevelopment activities and projects in the Southeast Overtown/Park West 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), requires the CRA to provide copies of its budgets to the City of Miami and Miami -Dade County. SEopim 02- 146 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE SOUTHEAST OZTERTOWN/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 hereby accepts, approves and adopts the proposed Operating and Tax Increment Financing Budgets for the CPA 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. �0-pf CRA Page 2 of 3 w 146 PASSED AND ADOPTED this 26th day of September, 2002. ATTEST: PRISCILLA A. THOMPSON CITY CLERK APPROVED AS AND CORRE-E7f ORNEY PW/CRA R-02-146:ELF ARTHUR E. TEELE, JR., CHAIRMAN Page 3 of 3 02-- 146 ITEMIM 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 SEOPW/ CRA Fiscal Year Ending - September 30, 2003 From: Annette Lewis References: Acting Executive Director Enclosures: Resolutions RECOMMENDATION It is respectfully recommended that the CRA Board of Directors approve the attached resolution adopting the proposed CRA Operating and TIF Budgets for SEOPW/CRA Fiscal Year Ending September 30, 2003 and authorizing transmission to the City of Miami and Miami -Dade County JUSTIFICATION Annual fiscal requirement General Source: N/A Account Number: N/A SEOPW / CRA 02- 146 CRA AGENDA September 12, 2002 CITY OF MIAMI COMMUNITY REDEVELOPMENT AGENCY OPERATING BUDGET FOR FISCAL YEAR 2002-2003 Budgeted Funding Source Description Amount General Fund SEOPW OMM Salaries & Benefits: Classified 126,726 126,726 - - Unclassified 494,336 494,336 - - Allowances 63,600 - 31,800 31,800 Severance Pay 6,211 - 3,106 3,106 Social Security Contribution 52,852 45,626 3,613 3,613 Group Health Insurance 45,000 - 22,500 22,500 Workers Compensation 1,553 - 776 776 Unemployment Compensation 6,211 - 3,105 3,105 Tuition Reimbursement 4,000 - 2,000 2,006 Employee Parking 14,625 - 7,313 7,3I3 815,113 666,688 74,213 74,213 Administrative Expenses: Clerk of the Board 49,000 - 24,500 24,500 General Counsel (with support) 160,646 - 80,323 80,323 Special Counsel (incl.litigation) 110,000 - 55,000 55,000 Professional Services 125,000 - 62,500 62,500 - Other Coactractual 25,000 12,500 w 12,500 Accounting (non audit related) 35,000 - 17,500 17,500 Accounting & Audting Svcs. 40,000 - 20,000 20,000 Insurance -Liability 25,000 - 12,500 12,500 Rent -Buildings 99,150 - 49,575 49,575 Communication Expenses 15,000 - 7,500 7,500 Visitors Parking 5,375 - 2,688 2,688 Travel Training /Per Diem 15,000 - 7,500 7,500 704,171 352,085 352,085 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 - 500 500 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 5,000 - 2,500 2,500 Miscellaneous supplies 5,000 2,500 2,500 SEOPW/ Page I of 2 116 ()2- CITY OFMIAMI COMMUNITY REDEVELOPMENT AGENCY OPERATING BUDGET FOR FISCAL YEAR 2002-2003 Budgeted Funding Source Amount General Fund SEOPW OMK 50,000 - 25,000 25,000 10,000 - 51000 5,000 290,500 - 140,250 140,250 1,799,784 666,698 566,548 566,548 Page 2 of 2 ,S`-Bo-p YY ! CR 02 - 146 CRA rV03 Proposed Budget SEOPW TIF FY'02 FY'03 Amended Proposed Revenues Additional Description 026006 749 Gain/Loss Investments 055006 001 Taxes Real current City portion of the tax increment 897,741 1,587,461 070 Rental Properties Block 56- Vectour site 32,880 094 Interest on investment Interest on existing cash reserces 81,456 60,000 264 Property Sale Sales of the Park Place leasehold interest 2,213,500 310 Contribution from Other -County County poriton of the tax increment 548,451 1,014,932 749 Gain/loss on investments Gain/loss on investment of cash reserves 12,000 - 990 Other -non operating Other non specified 287 Appropriated Fund Balance 500,000 - 4,306,315 2,662,413 Total revenues 4,306,315 2,662,413 Expenditures 010 Salaries unclassified CRA employees & City Unclassified employees - - 100 Social Security Contrib. social Security @ 7.65% - - 220 Professional svc. - appriasal Appraisal Services 5,000 10,000 230 Professional svc. - Architectual (Planning) Planning & Architectural services 665,000 240 Professional svc. -Engineering Engineering services - 100,000 250 Professional svc. - legal Outside legal services 85,000 270 Professional svc. - other . Services not otherwise specified 884,935 80,000 280 Professional svc. - accounting Accounting and Auditing services 40,000 - Cj ER87 Advertising Required public notices & advei'hising 5,000 Z,.D 89 Special Svc. - miscellaneous City Clerk costs (outsourced) - - 1 Page.1 of 2 CRA rY03 Proposed Budget SEOPW TIF 340 Other contractural Svcs, Other non professional services xxx Fannie Mae loan application fee xxx Fannie Mae - collateral acct (restricted cash) 602 Interest expense CRA's portion of debt service pmt. For 1990 Bonds 610 Rent of equipment - outside Operating lease agreement for equipment 690 Promotional activities Promotional activities related to programs/projects 810 Land Property acquisition expenses 840 Equipment New equipment purchses 860 Construction in progress Construction expenses (bricks & mortar) 940 Other grants and aids Authorized grants to community buisness/groups etc. xxx Contribution to Commercial Revitalization Proj+ Res 00-74 for $420,000 in grants to 3 businesses 945 Loans Authorized loans to community business/groups etc. xxx Contribution to CRA Operations CRA Operations 996 Budget Reserve Budgeted reserves from tax increment proceeds Total expenditures Revenue minus expenditures FY'02 FY'03 Amended Proposed 150,000 75,000 6,000 - 57,675 67,000 25,000 2,420,000 1,500 - 600,000 306,879 51,000 165,000 - 150,000 55,000 - - 543,172 30,205 390,362 4,306,315 2,662,413 0 0 Notation: Although not reflected as an appropriation, the CRA will at a later date appropriate the return of an advance to FDOT in the amount of $500,000 The CRA anticipates minimum carryovers from the FY'02 in the amount of $2,146,137 Land acquisition 2,060,932 Budget Reserve 85,205 2,146,137 per,•... . - Revenues 055012 Fund Balance Contribution SEOPW TIP 44`1 Parking Rental 094 Interest on Investments' 749 Gain/Loss on investments Total revenues Expenditures 550013- T.C.O.TA. 550015 -Commercial Revitalization Program 940 Grants in aid 996 Budget reserve Total expenditures Revenue minus expenditures CRA FYt03 Proposed Budget (SEOPW) Project and Programs FY 02 F1°03 Amended Proposed Additional Description 329,000 150,000 375,000 6,000 - 2,000 375,000 487,000 375,000 375,000 Authorized grants to community buisness/groups etc 420,000 t Budgeted reserves from tax increment proceeds 67,000 487,000 1 Pursuant SEOPW R-00-74 adopted June 2000 for Commercial Revitalization grants in the amount of S420,000 Un Additional funding may be required - reservations against advance to FOOT of. SS00,000 Wiil be may to provide any additional funding requirements C) CITY OF MIAMI COMMUNITY REDEVELOPMENT AGENCY Community Development Funding Commitment Project - 799126 FV'03 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 I (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 Total " "'01 FY'01 FV'02 Funding Butiaet Actual YTD Proiected Proected 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,OW 1 City commitment in FY'oo 5 years 5 million (City Ordinance 11736) 5,000,000 5,000,000 5,000,000 1 City commitment in FV'00 5 yar: 5 million (City Ordinance 11736) - - 5,000,000 5,000,000 1 Ciq• commitment in FY00 5 years 5 million (CiN Ordinance 1 1736) - - - 5,000,000 1 City commitment in FY'00 5 years 5 million (City Ordinance 11736) 3,000,000 996,426 1,800,000 3,213,269 2 Combined balance of $3.0 M priorty business corridor + $2.0M (City Reso 96-592) 16,249,770 1,815,661 18,116,222 23,978,595 Totat net of CDBG commitments 5,978,595 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 provide funding based upon obtaining a section 108 Loan up to an appropriate amount 1 Balance reamed for Jrd Avenue hxtWtoo ot91h Sued Mall onsuul appropnanom pr=mW brims•'. Portion expended from original $2.0 of HUD appropriation 548,584 CRA expended from $3.OM 3rd Avenue Corridor 1,024,824 Balance of $3.OM & $2.OM reallocated to CIP 3,426,592 S2/3, 323.32 expendedfor pahse I of underground placement -balance reflected above $ 5,000,000 M I� 0 Fiy C'� II7 Q.. UJ 0 AGENCY NAME: Commuunity Redevelopment Agency PROGRAM: All TO 28TH YEAR Original Total mount Balance o Budget Drawn Project PROJECT TITLE CRA- HOME PRIOR YEAR 786,966.00 ?'" :''- - 786,966.00 CRA- HOME 28TH YEAR 262,322.00' ' 262,322.00 CRA- HOME 27TH YEAR 262,322.00.--..'. - 262,322.00 OPERATING - 28TH YEAR 379,900.00 ::: 379,900.00 OPERATING - 27TH YEAR 379,000.00 .. 276,95-4.03 102,045.97 OPERATING -26TH YEAR 379,000.00 379,000.00 - OPERATING - 25TH YEAR 379,000.00 ;;.:':''; 379,000.00 - CRA - CLUC90 PRIOR YEAR 300,000.00 ':' , - 300,000.00 CRA - CLUC90 28TH YEAR 100,000.00 100,000.00 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 '<''.:;: 548,583.61 - CRA-HISTORIC OVERTOWN 1,024,824.49 1,024,824.49 - CapitalImrpovement 3,426,591.90 -.:, :,; 213,323.32 3,213,268.58 TOTALS $8,895,17.00 $2,824,200.45 $6,070,926.55 ITEM14 RESOLUTION NO. SEOPW/CRA R- 1'4(a A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SOUTHEAST OVERTOWN/PARK WEST (SEOPW) COMMUNITY REDEVELOPMENT AGENCY (CRA) ADOPTING THE PROPOSED OPERATING AND TIF BUDGETS FOR SEOPW/CRA FISCAL YEAR ENDING SEPTEMBER 30, 2003 AND AUTHORIZING ITS TRANSMISSION TO THE CITY OF MIAMI AND MIAMI-DADE COUNTY. F WHEREAS, the City of Miami approved and adopted the Southeast Ovegown/Park West Community Redevelopment Plan pursuant to Resolution Nos. 82-755 an'd 85-1247 (the Redevelopment Plan"); and WHEREAS, the CRA is responsible for carrying out community redevelopment activities and projects in the South East Overtown/Park West 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 SEOPW 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 SEOPW/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. Priscilla A. Thompson Clerk of the Board APPROVED AS TO FORM AND CORRECTNESS: Alejandro Vilarello CRA General Counsel Arthur E. Teele, Jr., Chairman SEOPW/CRA 02- 146 CRA AGENDA September 12, 2002