HomeMy WebLinkAboutR-91-0693J-91-660
8/6/91
RESOLUTION NO. 9 1 M 693
A RESOLUTION, WITH ATTACHMENT, APPROVING THE
ATTACHED FISCAL YEAR 1991-1992 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, by Resolution No. 1677-82 and Ordinance 82-155, the
Metropolitan Dade County Board of County Commissioners created
the Southeast Overtown/Park West Community Redevelopment District
("District"); and
WHEREAS, by 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 attached Fiscal Year 1992 Budget for the
Southeast Overtown/Park West Redevelopment District Tax Increment
Trust Fund is hereby approved.
Section 2. The City Manager is hereby instructed to submit
said Budget to Metropolitan Dade County for approval.
Section 3. This Resolution shall be in effect immediately
upon its adoption.
ATTACHMENTS
CONTAINED
CITY C+CII_� SSION
WIET'i7KIG OF
T 1991
91-- 693
u
PASSED AND ADOPTED this 26th day of September r 1991.
ATTEST:
MA Y kHIRAII,CLERK
BUDGETARY REVIEW & APPROVAL:
MANOHAR SURANA, DIRECTOR
DEPARTMENT OF BUDGET
PREPARED AND APPROVED BY:
0< 90
LINDA K. KEARS N
ASSISTANT CITY ATTORNEY
-2-
XAVIER L. AREZ,
FINANCIAL REVIEW & APPROVAL:
Y
CARLOS GARCIA, DIRECTOR
DEPARTMENT OF FINANCE
APPROVED AS TO FORM AND
CORRECTNESS 'As OF AUGUST 301 1991:
1 0.
JO GE FE EZ AND
CI Y ATTORNEY
S 1'rY OF MAIM FLG24JDA
WM-OFIFICE
HEMOR1ltVOUM
ti� •t
M,1♦41Ayf Firai
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DATE
FILE
November 26, 1991
lerk
sugaEcr :
Resolution No. 91-693
Scrivener's Error in
Attact-zment
City
,T'he r,="tttmc'hmentt ttaci the subject Resolution entitled "Southeast
,.{��. '..cswn/� s��: West fCovom mi�p Redevelopment Agency - Annual
-a.t_lng Budget Fiscal Year 1990-1991" contains a typographical
er�_cz an the mathematical computation. The year end balance
izar.d be S186.023 rather than $156,023 as typed on the
The revised attachment is enclosed herewith.
tati thee absence of any .impact or effect resulting from
tY21s r- _.:r.ar, ,no further ac-ttion, is deemed necessary or appropriate.
�L�.0 ma.I' wLsb: to Timely this memorandum, on file %-:i_th any
L,&adviqy ammtteriiR l ,you kave in your custody regarding the item.
WtAuedhment
R-9►-693
SOUTHEAST OVERTOWN/PARK. WEST
COMMUNITY REDEVELOPMENT 4SVESCC
ANNUPdj OPERATING, BUDGET
FISCAL YEAR 1990-91 '
(Catty mt=a=tt.ions :
Iftw Zncrratten t Funds $ 6 4 6, 0 4 0
Guaranteed 'En'tiClement Funds $300, 000
County Contributions:
Tax Increment Funds $497,397
Total Annuaa4 :Revenues �� �"�.�. ; 7
EX W t, C
3`9TQ, MIT :B:^ndr Vebt Service
Env :roxutien't!.3 (Cleanup Fees
Professional Services
DRI Application Fees $35,000
'Total Annul 'Expenses ? x11 1 •r
YEAR END ;BALANCE L
k-91-493
DaC�
COMMUNITYTREDEVE OPMENTKAGENCY
ANNUAL OPERATING BUDGET
FISCAL YEAR 1991-1992
'IM
City Contributions:
Tax Increment Funds $648,040
Guaranteed Entitlement Funds $300,000
County Contributions:
Tax Increment Funds $497,397
Total Annual Revenues $1,445,437
EXPENSES:
1991 TIF Bonds Debt Service $1,039,414
Environmental Cleanup Fees $110,000
Professional Services $75,000
DRI Application Fees $35,000
Total Annual Expenses
YEAR END BALANCE $156,023
91-- 693
f
` CITY OF MIAMI, FLORIDAis
INTER -OFFICE MEMORANDUM
Honorable Mayor and Members DATE : AUG 2 Q 199t L JFIM.:
of the City Commission Seopw320.06
SUBJECT : FY 1991. Southeast
Overtown/Park West
Redevelopment Trust
Fund Budget
FROM : Cesar H . O REFERENCES
City Manage
ENCLOSURES .09/11/91 Commission Mtg.
Fqqo)ER, I 0T e►
It is respectfully recommended that the City Commission adopt the
attached Resolution, approving FY 1991 Budget for the Southeast
Overtown/Park West Redevelopment District Tax Increment Trust
Fund.
The Department of Development 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
approval of the respective taxing authorities contributing funds
to this project.
Attachments:
Proposed
Proposed
Budget
Resolution
91- 693