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Home My WebLink AboutR-95-0563.t V It J-9S-640 7/,6 /95 RESOLUTION NO. 9 5 1T6 A RESOLUTION AUTHORIZING THE DOWNTOWN DEVELOPMENT AUTHORITY ("DDA") TO ESTABLISH A PROPOSED MILLAGE RATE OF ONE-HALF ('/2) MILL FOR THE DOWNTOWN DEVELOPMENT DISTRICT OF THE CITY OF MIAMI, FLORIDA, FOR THE FISCAL YEAR BEGINNING OCTOBER 1,1995 AND ENDING SEPTEMBER 30, 1996; AND AUTHORIZING AND DIRECTING COMMUNICATION OF SAID PROPOSED MILLAGE RATE TO THE DADE COUNTY TAX COLLECTOR TOGETHER WITH THE DATE, TIME AND PLACE OF THE PUBLIC HEARINGS AT WHICH THE CITY COMMISSION WILL CONSIDER THE PROPOSED MILLAGE RATE AND THE DDA TENTATIVE BUDGET FOR SAID FISCAL YEAR. WHEREAS, Section 14-34 of the Code of the City of Miami and General Law authorizes the levy of an additional one-half (1/2) mill per dollar value of downtown property for purposes of funding the operations of the Downtown Development Authority ("DDA"); and WHEREAS, Section 200.065(2)(a)1, Florida Statutes (Sapp. 1992) ("TRIM BILL"), requires each taxing authority to establish a proposed millage rate; and CITY COMMISSION WHEREAS, said law stipulates that the proposed mil age MC41W OF JU L 1 3 1995 Aeaolution No. 95- 563 �i submitted to the Metropolitan Dade County Property Appraiser ("Property Appraiser") and the Tax Collector; and WHEREAS, said rate reflects the levy necessary to realize property tax revenues anticipated in the FY196 Budget; and WHEREAS, the TRIM BILL requires that the proposed tax rate be included on tax notices; and WHEREAS, the proposed millage rate submitted to the Property Appraiser is not binding but is necessary for the purpose of preparation of tax notices; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The recitals and findings contained in the Preamble to this Resolution are hereby adopted by reference thereto and incorporated herein as if fully set forth in this Section. Section 2. The DDA is hereby authorized to establish a proposed millage rate of one-half (1/2) mill for the Downtown Development District of the City of Miami, Florida, for the Fiscal Year beginning October 1, 1995 and ending September 30,1996. Section 3. The DDA is hereby authorized to submit forthwith said 95- 563 proposed miillage rate for the DDA to the Dade County Property Appraiser and to the Dade County Tax Collector together with the date, time and place at which the City Commission will hold public hearings to consider said millage rate and the DDA's tentative budget for said fiscal year, as follows; September 14 ,1995, at 5:05 PM and September 28 ,1995, at 5:05 PM in the Commission Chambers at City Mall, 3500 Pan American Drive, Dinner Key, Miami, Florida. Section 4. This Resolution shall become effective immediately upon its adoption. PASSED AND ADOPTED this day of July 91995. ATTEST: � i STEP N P. CEARK, YOR 95- 563 CITY OF MIAMI, FLORIDA INTER -OFFICE MEMORANDUM87 To ' The honorable Mayor and^TE JUIJ 2 1995 FILE Members of the City Commission SUBJECT: Proposed DDA Millage Rate for FY196 FROM Cesa REFERENCES: For July 13, 1995 City ger ENCLOSURES :City Commission Meeting Recommendation It is respectfully requested that the City Commission approve the attached Resolution establishing the FY196 Millage Rate for the Downtown Development District of the City of Miami, Florida. Background In 1980, the State of Florida Legislature enacted house Bill-41) entitled "Truth in Millage" ("TRIM BILL") which has been incorporated into the Florida Statutes under Section 200. The TRIM BILL also stipulates that the proposed millage rate be submitted to the Property Appraiser and the Tax Collector and included in the City's tax notices mailed to property owners. The City Commission is authorized under Chapter 14, Section .14-34 of the City of Miami Code to levy an additional ad valorem tax on all real and personal property in the Downtown Development District, not to exceed one- half (%) mill, for the purpose of financing the operations of the DDA. The proposed Millage Rate for the DDA for the Fiscal Year beginning October 1,1995 and ending September 30, 1996 is .5 mills. The City Commission must also establish the dates and times of the first and second public hearings in connection with the DDA FY196 proposed Millage Rate and Budget. As in past years, the DDA's public hearings should be scheduled for the same dates as the City's. 95— 563 g 7'/ L St li4��% ell) 6/95 RESOLUTION NO. /95 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE DOWNTOWN DEVELOPMENT AUTHORITY ("DDA") OF THE CITY OF MIAMI, FLORIDA; AUTHORIZING THE EXECUTIVE DIRECTOR TO ESTABLISH A PROPOSED MILLAGE RATE FOR THE DOWNTOWN DEVELOPMENT DISTRICT OF THE CITY OF MIAMI, FLORIDA FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 1995 AND ENDING SEPTEMBER 30,1996. WHEREAS, Section 200.065(2)(a) I F.S. (TRIM BILL) requires each taxing authority to establish a proposed millage rate; and WHEREAS, said law stipulates that the proposed millage rate be submitted to the Property Appraiser and the Tax Collector; and WHEREAS, said rate shall reflect the levy necessary to realize property tax revenues anticipated in the Fiscal Year 1996 Budget; and WHEREAS, the TRIM BILL requires that the proposed tax rate be included on tax notices; and WHEREAS, the proposed millage rate submitted to the Property Appraiser is not binding but is necessary for the preparation of tax notices. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE DOWNTOWN DEVELOPMENT AUTHORITY OF kf , THE CITY OF MIAMI, FLORIDA: Section 1. The Executive Director of the DDA is hereby authorized to establish a proposed millage rate for the Downtown Development District of the City of Miami, Florida for the Fiscal Year beginning October 1,1995 and ending September 30,1996 at.5 mills. Section_2. The Executive Director of the DDA is instructed to submit said proposed rate for the Downtown Development District to the Property Appraiser and Tax Collector. PASSED AND ADOPTED this day of 1995. Commissioner Wifredo Gort Chairman Patricia Allen Executive Director 95- 563 a~- 6\95 RESOLUTION NO. /95 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE DOWNTOWN DEVELOPMENT AUTHORITY ("DDA") OF THE CITY OF MIAMI, FLORIDA APPROVING A PRELIMINARY ANNUAL BUDGET OF THE DDA FOR THE FISCAL, YEAR BEGINNING OCTOBER 1, 1995 AND ENDING SEPTEMBER 30,1996; REQUESTING THE MIAMI CITY COMMISSION REVIEW SAID BUDGET AS PER CHAPTER 14 OF THE CITY OF MIAMI CODE; REQUESTING THAT THE MIAMI CITY COMMISSION ESTABLISH THE MILLAGE AND ALLOCATE OTHER FUNDS TO SUPPORT THE FINANCIAL REQUIREMENTS OF THE BUDGET; AUTHORIZING THE EXECUTIVE DIRECTOR AND THE TREASURER OF THE DDA TO EXPEND FUNDS UNDER THE NEW BUDGET; DIRECTING THE EXECUTIVE DIRECTOR TO FILE A DETAILED STATEMENT OF THE PROPOSED EXPENDITURES AND ESTIMATED REVENUES -FOR THE 1996 FISCAL YEAR WITH THE CITY CLERK OF THE CITY OF MIAMI, FLORIDA AFTER APPROVAL, ADOPTION AND ESTABLISHMENT OF THE MILLAGE BY THE MIAMI CITY COMMISSION; AND PROVIDING THAT A COPY OF THIS RESOLUTION BE FILED WITH THE CITY CLERK OF THE CITY OF MIAMI. WHEREAS, the DDA of the City of Miami, Florida has prepared a, Preliminary Annual Budget for the Fiscal Year beginning October 1, 1995 and ending September 30,1996; and WHEREAS, the Board of Directors of the DDA of the City of Miami, Florida has reviewed a Preliminary Budget, said Budget being based on the 95- 563 �I Estimated Tax Roll provided by Metropolitan Dade County; and WHEREAS, Ordinance No. 7370, as amended, of the City of Miami, Florida requires that the City Commission make appropriations for the operations of the DDA by ordinance; and WHEREAS, the Board of Directors of the DDA finds that the proposed Budget is necessary in order to further the objectives of the DDA, as authorized by City Ordinance. i NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE DOWNTOWN DEVELOPMENT AUTHORITY OF THE CITY OF MIAMI, FLORIDA; Section 1. The Preliminary Budget of the DDA, as submitted by the Executive Director, is made part of this Resolution as Attachment "A" and is hereby approved and shall be known as the "Preliminary Annual Budget of the Downtown Development Authority: Fiscal Year October 1, 1995 through'September 30,199611. Section 2. The City of Miami Commission is requested to review said Budget as per Chapter 14 of the City of Miami Code and, establish the millage, authorized by law, to support the financial requirements of the Budget. Section 3. The Executive Director and the Treasurer of the DDA are 35- M t { authorized to expend funds, including new salary rates, as provided in said Budget, after approval, adoption and establishment of the millage by the Miami City Commission, upon the first day of the 1996 Fiscal Year; October 111995.' Section 4. The Executive Director of the DDA is directed to prepare and file with the City Clerk of the City of Miami, a detailed statement of the proposed expenditures and estimated revenue for the Fiscal Year 1996 which shall be entitled "Preliminary Annual Budget of the Downtown Development Authority: Fiscal Year October 1,1995 through September 30, 1996". Section 5. A copy of this Resolution and the attachment shall be filed with the City Clerk of the City of Miami, after approval, adoption and establishment of the millage by the Miami City Commission. PASSED AND ADOPTED this day of 1995. Commissioner Wifredo Gort Chairman ATTEST: Patricia Allen Executive Director ATTACHMENT "A:' PRELIMINARY ANNUAL BUDGET OF THE DOWNTOWN ]DEVELOPMENT AUTHORITY: FISCAL YEAR OCTOBER 1, 1995 THROUGH SEPTEMBER 30,1996. BUDGET CATEGORIES ANNUAL BUDGET % REVENUES Ad Valorem Taxes Grants & Contracts Interest Miscellaneous TOTAL REVENUES $ 1,328,500 95.5 50,000 3.6 7,500 .5 5,000 .4 $1,391,000 100.0 EXPENDITURES Personnel Services $ 600,000 43.1 Professional Services 30,000 2.2 Operating Expenses 257,250 18.5 Special Projects 4539750 32.6 Contingencies 50,000 3.6 TOTAL EXPENDITURES $113919000 100.0 563