HomeMy WebLinkAboutR-92-0561RESOLUTION NO. 9 2 - 561
A RESOLUTION, WITH ATTACHMENT, APPROVING THE
ATTACHED FISCAL YEAR 1992-1993 BUDGET FOR THE
SOUTHEAST OVERTOWN/PARK WEST REDEVELOPMENT
DISTRICT TAX INCREMENT TRUST FUND; INSTRUCTING
THE CITY MANAGER TO SEEK APPROVAL OF SAID
BUDGET BY METROPOLITAN DADE COUNTY.
WHEREAS, pursuant to Resolution No. 1677-82 and Ordinance
No. 82-155, the Metropolitan Dade County Board of County
�- Commissioners created the Southeast Overtown/Park West Community
Redevelopment District ("District"); and
WHEREAS, pursuant to Resolution No. 83-187, the City
Commission approved an Interlocal Cooperation Agreement
("Agreement"), between the City of Miami and Metropolitan Dade
County, for the implementation and day-to-day management of the
District; and
WHEREAS, the Agreement requires the Community Redevelopment
Agency ("CRA") to prepare a yearly budget for the District's
trust fund and submit the budget to all taxing authorities for
approval;
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 attached Fiscal Year 1992-93 Budget for the
Southeast Overtown/Park West Redevelopment District Tax Increment
Trust Fund is hereby approved.
Section 3. The City Manager is hereby instructed to submit
said budget to Metropolitan Dade County for approval.
Section 4. This Resolution shall become effective
immediately upon its adoption.
PASSED AND ADOPTED this loth day of September, 1992.
- 2 -
FINANCIAL REVIEW & APPROVAL:
CARLOA GARCIA, DIRECTOR
DEPARTMENT OF FINANCE
APPROVED AS TO FORM AND
CORRECTNESS:
Q i
J S, III
CITY ATT Y
52-- 561
N
SOUTHEAST OYERTOWN/PARK WEST
COMMUNITY REDEVELOPMENT AGENCY
ANNUAL OPERATING BUDGET
FISCAL YEAR 1992-93
REVENUES:
City Contributions:
Tax Increment Funds
Guaranteed Entitlement Funds
County Contributions:
Tax Increment Funds
Total Annual Revenues
Fund Balance at end of
Fiscal Year 1991-92*
i Funds Available
._i EXPENSES:
1990 TIF Bonds Debt Service
,j Administrative Expenses
Miami Arena Security
7 & 9 Street Malls Security &
Maintenance
Vacant Property Maintenance
Audit Fees
Total Annual Expenses
$609,255
$300,000
$463,629
$1,372,884
$1,125,731
$1,121,523
$200,000
$60,000
$50,000
$10,000
$5,000
@nUUopff4
$2 JM 615
l
CITY OF MIAMI, FLOPIDA
INTER -OFFICE MEMORANDUM
4
26
Honorable Mayor and Members 2199Z
To : of the City Commission DATE : Seop%520. 06
FROM : Cesar H. 0
City Manage
FY 1993 Southeast
SUEUECT : Overtown/park West
Redevelopment Trust
Fund Budget
REFERENCES:
ENCLOSURES' 9 / 10 / 9 2 Commission Mtg.
It is respectfully recommended that the City Commission -adopt the
attached Resolution, approving FY 1992-93 Budget for the
Southeast Overtown/Park West Redevelopment District Tax Increment
Trust Fund.
The Department of Development and Housing Conservation recommends
the approval of the attached Resolution to satisfy the terms of
the Interlocal Cooperation Agreement ("Agreement") signed between
the City and Metropolitan Dade County.
The Agreement requires the Community Redevelopment Agency (City
of Miami) to prepare a budget for the trust funds and seek ap-
proval of the respective taxing authorities contributing funds to
this project.
Attachments:
Proposed Budget
Proposed Resolution
92-b�
s
.2 6 -��