The URL can be used to link to this page

Home My WebLink AboutR-90-0887J-90-687 9 0 ... 887 8/27/90 RESOLUTION NO. _ A RESOLUTION, WITH A'ITAC:IIMENT, APPROVING THE DEPARTMENT OF OFF-STREET PARKING FIVE YEAR STRATEGIC AND FINANCIAL OPERATIONS PLAN, AS AMENDED, SAID PLAN BEING BASED ON IMPLEMENTATION OF RATE ORDINANCE NO. 10641. WHEREAS, on January 14, 1988 the City Commission (Motion No. 88-90) approved in principle the Department of Off -Street Parking Five Year Strategic and Financial Operations Plan (dated May, 1987); and WHEREAS, the Department of Off -Street Parking Five Year Strategic and Financial Operations Plan is reviewed and updated on an annual basis in order to incorporate new capital projects and to reflect the current status of capital projects previously included; and WHEREAS, amendments are proposed to the Plan which incorporate increased expenditures for capital projects and garage repairs, maintenance, and security; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The Five Year Strategic and Financial Operations Plan, as amended, for the Department of Off -Street Parking is hereby approved as attached, said Plan being based on the City Commission's previous adoption. of Rate Ordinance No. 10641 on September 28, 1989. PASSED AND ADOPTED this 8th day of November_, 1990. A T MATrTHIRAI, CITY CLERK PREPARED AND APPROVED BY: APPROVED AS TO FORM AND CORRECTNESS: G. MIRIAM MAER JO E L. FERN DEZ,ICITY ATTORNE CHIEF ASSISTANT CITY ATTORNEY ATTACHMENTS CONTAINED 021 M G OF, Nov 8 two 90- 887 RESQL1f�td1 A0. DEPARTMENT OE OEW — STREET PARK S NG E = VE YEAR STRATEG I C AN17 F'INANC=AL OPERATIONS PLAN FOR THE YEAR S 1991 — 1995 --A JOHN J. MULVENA [YP(utke Director August 6, 1990 Honorable Mayor and Members of the City Commission: FIVE YEAR STRATEGIC AND FINANCIAL OPERATIONS PLAN Background During November 1983, members of the Off -Street Parking Board and senior staff held a retreat to discuss the future direction of capital and operational programs for the Department of Off -Street Parking. The purpose of this effort was to consider a number of options for the future, both in terms of capital construction necessary to meet parking needs as well as operational programs which were necessary for the Department to assume an appropriate role in the balanced transportation system. In attendance were John Brophy, of Brophy and Associates, to discuss the single responsibility center concept for on -street parking management, and Howard May, of Conrad Associates East, to discuss the capital programs of the Department. The result of the process was the development of a Five Year Strategic and Financial Operation Plan which was adopted by the Board on February 16, 1984. This document was in turn forwarded to the City Administration and City Commission for their review and was adopted on June 14, 1984. Since 1984, the updated Five Year Strategic and Financial Operations Plans have been submitted each year to the City Commission as a companion item to the annual fiscal year budget. M Goals The initial Five Year Strategic and Financial Operations Plan included six major goals, a capital program based upon the commitment to maintain 1.5 debt service coverage, and implementation strategies for various operational programs. The six major goals included: 1) utilization of parking regulations to improve traffic flow; 2) orientation of certain Department parking activities to support public transit; 3) utilization of the Department's bonding capacity and ,y expertise to support the economic development goals of the City of Miami; 4) expansion of the Department's activities to support the City of Miami affirmative action and minority business goals; 5) adoption of a capital plan which ensures sufficient parking to meet the growth of downtown and various " neighborhoods; and, 6) accomplish the above while maintaining the financial stability of the Department. The financial stability was insured by the City Commission and the Off -Street Parking Board agreeing to maintain a minimum �. reserve of $1.5 million and a minimum debt service coverage ratio of 1.5. I Department of Off Street Parking . 190 N.E. Third Street e Miami, Florida 33132 • Tel: 305-373-6789 • Fax: 305-371-9451 90-- 887 3a -1 0 A Assumptions Each fiscal year before the Budget and Five Year Plan are submitted, the assumptions which underpin the Plan are analyzed, evaluated and amended when necessary. During the FY 87/88 Budget and Five Year Plan review by the City Commission and Off -Street Parking Board, the assumption of permitting the installation of five hundred additional parking meters per year for the next four years was replaced by an increase in parking system rates or utilization sufficient to achieve a six percent (6%) revenue increase per year. The FY 89/90 Budget and Five Year Strategic and Financial Operations Plan, as reviewed and approved by the City Commission and Off -Street Parking -- Board, assumed operating revenues would increase at five percent (5%) per annum, operating expenses would increase at four percent (4%) per annum, the subordinated debt of $3.5 million would be refinanced, the Garage No. 2 _ addition at $4.0 million would be financed in FY 90/91 and the Coconut Grove Garage and Garage No. 2 addition would open in FY 91/92 and be utilized at — 80% of capacity. The FY 90/91 Budget and Five Year Strategic and Financial Operations Plan contain all the assumptions of the FY 89/90 Budget and Five Year Plan except that operating revenues and operating expenses are projected to remain relatively constant. The Fiscal Year 90/91 projected net income will provide sufficient funds, in conjunction with available reserves, to continue development of a capital -- program which is designed solely to meet existing commitments. In order to _ achieve the required income projections, the FY 90/91 Department of Off -Street Parking Budget reflects a reduction in operating expenditures of $13, 408 below the FY 89/90 expenditure level. Based upon the "floors and ceilings" capital project implementation process developed by the Finance Committee, sufficient data is available to inform the City Commission of the need for new revenue sources at the appropriate time. Components The Five Year Strategic and Financial Operations Plan has four components: Revenues and Expenses, Debt Service Coverage, Cash Flow, and Capital Requirements. In addition, the Financial Advisor to the Department regularly prepares a projected debt capacity schedule, especially when the issuance of bonds is being considered. The Five Year Strategic and Financial Operations Plan allows a comparative analysis of operating revenues, operating expenses, operating income after depreciation and amortization, non -operating income and expense and net Income (loss) from FY 80/81 through FY 88/89 to document trends. The Plan also projects the same information from FY 89/90 through FY 94/95. 90- 887 3--)- I The Flve Year Plan compares income available for debt service from FY 80/81 through FY 94/95 and calculates debt service ratios for senior bonds, subordinated bonds and senior and subordinated combined. The Plan also { ' projects the beginning and ending cash and investment balances for each j year, and the operating and maintenance requirement for each of the five years. i� The final schedule in the Plan details the capital requirements of the ' Department for FY 90/91 through FY 94/95. The schedule indicates if the projects are expected to utilize Department of Off -Street Parking reserves Fand/or new borrowings. i Respectfully submitted, John J. Mulvena Executive Director Department of Off -Street. Parking JJM/pf 90-- 887 3a -t i f _t � f i � � � _� _ �• CG O uo I 9 I DEPARTMENT OF OFF-STREET PARKING PAGE 1 MIAMI, FLORIDA ASSUMPTIONS -- FIVE YEAR PLAN 1991-1995 ALTERNATIVE 91A1 GENERAL (1992.1995): 1) OPERATING REVERIES INCREASE AT 5% PER ARUM (INCLUDES RATE Ni UTILIZATION INCREASES ON ALL FACILITIES) 2) OPERATING EXPENSES INCREASE AT 4x PER ANM 1991 1) •FINANCING OF GARAGE 2 ADDITION U-0 MILLION 2) CONSTRUCTION OF COCOMIT GROVE GARAGE $6,5 MILLION 1992 1) OPENING OF COCONUT GROVE GARAGE '*COCOGRNI5'f 2) OPENING OF GARAGE 2 ADDITION 1993 199�. 1995 I 0 �f7 DEPARTIENT 01' OFF-STREET PARKING NIA111, FLORIDA STATEIENT OF REVENUES AND OWENSES TEARS ENDED SEPTENBER 30 FIVE.VEAR PLAN PROJECTIONS ALTERNATIVE 91A1 OPERATING REVENKS: PARKING FACILITIES PARKING LOTS ON -STREET FACILITIES ANnf.EIENT i MIN FEES, NET OF RELATED W WJM OTNER TOTAL OPENATIM REVEMN:S OPESALARIES & Flinn REPAIRS AND PAINTENANCE SECUR i TT UTILITIES PRORTTT PET RENTAL/REV. SNARING PARKING PETER PARTS i INSTALLATION LEGAL A PROFESIONAL SUPPLIES AND HISCELLANEOW SPECIAL ASSESMENT EGU)PNENT RENTAL, TOTAL OPERATING EXPENSES OPERATING INCONE BEFORE DEPRECIATION Am AMORTIZATION DEPRECIATION 4 ANOKTIZATION OPERATING INCOIE NON -OPERATING INCOE(EXPENSESU INTEREST INCONE: CINRRENT INVESTIENTS .� RESTRICTED INVESTMENT! DISPOSAL OF PROPERTY INTEREST EXPENSE CONTRACTUAL SERVICES -DOA TOTAL NON -OPERATING INCOE(EXPENSE) IN00NE BEFORE EXTRAORDINARY ITEM EXTRAORDINARY ITEM - GAIN(LOSS) ON DEBT REFINANCING Q(j OPERATING TRANSFER • CITY car: NET INOOME (LOSS) 6/20/90 02-Ji-I.90 MAWS PN PANS: 2 DRAFT •...� ACTUAL _ __ ••__.19di__•...1985....../�_.•.....19dJ........1�.- •...1 PROJECTED •-___1991------------ •_..t • • .. ._ ._ ......... --------- ..-1995-. ...1951.. 1,197.011 .........1 1,977,622 2,400,917 2,S37.007 2.521.421 2.218.252 2.504.411 2.366,487 2.229,477 2,943,945 2 251 864 3:130,948 2,152 096 4.070,792 2,347,dOS 4,507,455 2 20 650 4,796,"0 3 282 263 5,036,283 3,494,738 5,286,097 3 697,569 5.552,502 S 911 986 S,530,127 901,814 837.469 t,Z00,216 "J.248 1.565,735 1,186,422 1.928.505 1.490.009 1.693,832 1.623,033 104,708 1,944,2A6 252,853 1,922,759 325,42E 1,99d,942 319,295 2,301,950 318,565 2.205,355 308,000 2,315,623 323,400 2,t11,t04 339,570 2,552,97< 356.549 2,374 376 374,376 10,000 44,4" 10,000 79.21d 22,919 194,703 241.572 108,342 235,396 109,061 185,345 215,"T 66,740 65,928 145,31d 45.300 260.213 268,22i 276:635 285.t67 �2'ggp,ra..�' .jpl. .6.T77.962. 6,M,964, 7.5d6.458• 7.719,769_ 11-217.751- 11,d22,032- 12,436,22d- 13,Od2_STR '3.370.596..6.305.435- •8,605_053. -9,621,091_ .9,603,765- •738,953 911,308 1,205.916 1,990,525 2,066,292 2,252,65S "B'"5 2,452,324 516.071 2.%8,227 535,764 2.994.26d 681,209 3.033,853 605.921 3.151.627 621.994 3.3%,126 693,231 3,529.891 720.960 3,671-W7 749,7" 3.817 m 779,790 455,59d 129,378 S69,827 i49,370 728.982 219,062 416,876 242,731 501,679 247,578 261,926 291.679 351,293 259,444 405,841 255,d63 326.m 287,265 320.420 262.4/6 391,685 309,007 407,352 321,36T 64 i23,6 334,222 <40,592 347,5 160,425 46.681 20d,081 49,022 190,Sd3 52.752 242.510 71,358 245.489 151.687 251.69d 158.412 241.25d 192,711 375,556 497,232 360,068 911,141 425,805 821,094 337,15T 604,600 36T,643 62d,78t 653,935 653.935 3V7.6t3 6d0,093 4f3,5<9' % ; 707,2623 26,290 60.507 28,061 265,464 3d.S47 286,342 92.003 63,092 198,891 58,927 210,625 13,121 680.972 33,9" 0 18,003 207.898 2,500 208,250 12,500 255,000 /3.000 265,200 13,520 275,808 it,061 Z8b,840 1i,314 29d,314 89,391 34,580 140,535 127.414 97.484 99,578 107:974 22S.93d 69,925 140,495 1Z7,495 159,464 167,005 259.462 230.940 179.481 230,038 295.428 94.150 238,166 266,850 270,201 266,d50 2" 369 Z66,$50 301,983 Z66,850 31t,063 266,Nt50 0 0 0 0 0 0 0 0 75,065 13,569 73,001 17,496 TS,4d0 13,651 76,068 17,584 100,502 27,922 32,600 20.050 ZO.d52 21,656 22.554 23.456 .2.919,296• -3,453.007• 3,T69,S96_ •4,OS2,S3d• 4927 .,,603• -5,097,699, 6.192.753• _6.133.746..6'090'780..b_?2V'S7d• -6,8d4,Od7• -T,14d_777 � 4,054 .1,741,703 1.249, _2.449,Od2_ 1 IRIS 2 451.300 2 852428 3,OOd,366 2.731A" 2.658.855 2,622,160 2,412,300 (1.857,972) 3,4d7,345 (2,040,146) 3,512,965 (1,950,956)-(2,2d5_492)•(2,3d7,917)-(2_495,463).(2_60d_3d7 4,50,203 4,937,945 5,287,451 5,6" 524 1408.2d7) 09.029 16652) ZS01.867) 1930:343) (1,078.332) (1,114:371) (1,161,320) (1,160,176) ... a40,7�2_.1,195,570...1,649,433.._1,922,085...1,930,034...1,617,075...1,497.?3?...1,i61,96t...._SS4.328...1.K7 .............029•_ ................................_ 137 ......... 65.316 74.980 56'"1 284,179 344,577 333,550 306,092 130,355 239.99 16616 172 O59 1% 10T 156 260 125,0 250,000 150,000 250 000 184;0 O 250,000 1d4.0 O 250 000 184;� 250.000 164;� 806.490 (15.912) 478,500 0 Mau (12.705) 345,504 5,175 (1,489,2 244,316 5,5% (1,383,1220) 359,925 IT,229) (1F 35,542 (1,328,16�) ' 0 (1,40d,1SDI O (1.631,0620) O (t.620.500) (1,660.270) (2,441,t30) (2,4t4,4500) (2,3d4,7500) (2,352,200 (40d,70'p) (1,316,i3o) (1,339, O) 0) ; � ........... -"?.IN •(762,953) ••(922.S33) •(d54.3d/) � (---------- (7d8,715) (1,079,431) (1,000,672) -----•- •- -- --•... ----------- ---------- ---------- -----I----- -----------(1,900,36" -- --- ----------- ---------- - - ........_.. 726,900 1,067,704 ---------- t,141,319 --------- - 537,bK •.(856,172) ----.... - 61,363 --------- 461,312 (706,568) 109,951 301,731 295,367 569,659 841,319 1,132,019 1,287,9St 432,617 O 0 O 0 0 0 799,966 0 (2,S68,725) 0 (212.132) 0 0 0 0 0............ ----69,659 - ----...- ------- - - ....................... 1.287.031 432,617 .......... 726,900 ......................................_............_................ ..__.659 1,W?.670 1"141,319 (2,031,001) 641,363 249,180 . (706,S6d) 109,951 301,751 -•--_._.•.. 295.367 560, 841.319 1.132.019 SCHEDULE OF DEBT SERVILE COVERAW TEARS ENDED SEPTEMBER 30 IMPARTMENT OF OFF-STREET PARKING MIANI FLORIDA FIVE fFOR FLAN F>1UMIONS ALTERNATIVE 91AI 02-AA-90 01:43:36 PN PACE 3 a � ACTUAL PROJECTED ...............................................................---.----•...-------- ...........................................................•.....----.^.---_..----•----------- 1981 1982 /9B3 19. 1985 1986 1987 19m 1989 MO 19" 1992 /993 19% 1995 --------- --------- --------- --------- --------------------------- --------- --------- --------- --------- --------- --------- --------- --------- I P AVAILIABLE FOR DEBT SERVICE 12.120,835 ffiffffffO�f�Ofif�fffffffff� 12,3Sa,702 S2,881.203 13,412.111 13,597,259 $3.424,921 OffdfblQf®f 53,095,302 13.029,6m S2.782.466 13,770,606 13.912,915 SS,022,289 SS,372, DEBT SERVICE: INTEREST 01 SENIOR BONDS 1,329,920 0 1,302,138 0 1,325,436 0 1."7.357 0 1,360,S47 0 1.446.342 0 1.181.329 90.247 1,171,538 172.301 1,293,511 239,200 1,127.452 395.600 1,105.252 435.000 1."1,190 862.734 1,414,215 02.754 1.384,515 862.786 1,351,964 862.784 INTEREST ON SUBORDINATED SOIDS ANDRITIZATION BONDISSUE COST 16,004 14.295 14.24 21,885 22,575 24,48a S6.5m 64,311 9a,351 97,456 97.456 97.456 97,456 97.456 97.456 TOTAL IMTENE:T E70'EIRE ................................................................................ 1,346,OOi 1,316,433 1,339.731 1.ta9,242 ................................................................................................... 1,381,122 1.470,830 1,328.160 1.408.150 1.01.062 1.620,SOB 1.637.708 2.401.430 2,374.45S 2.34A,755 2.312.204 PRINCIPAL ON SENIOR BONDS 000 155,0m 170,090 155,000 160.000 90,000 315,000 330.000 345.000 370.000 38S.000 415.000 "0.000 46S.000 5oO.000 0 PRINCIPAL ON IIBORDINATED BONDS 0.......... �.......... �.......... �.......... �.......... �---------- ---------- -- .--- -- -.....---._ ----------- �.--..•••._ TOTAL PRINCIPAL ..........0....._._.. 150,000 1SS,000 170,000 iS5.000 160.000 90,000 ..... 315,000 330.000 345.000 3?0.000 30.000 415.000 -S1,854.215 440,000 40.000 .11,849,515 SO0,000 DEBT SERVICE a1 SENIOR SONDa •$1.479.920 0 S1,4S7.135 0 11.495.436 0 �11,622.3S7 0 .S1.S20,547 $1.536.342 0 0 11.496,329 90,247 11,501 S39 �S1,63a,S/1. 172,301 239,200 $1.497.452 39S.600 D1.490,2S2 43S.000 $1,856.190 862.734 mz.7a4 a62.784 11,851,964 J "�.,784 DEBT SERVILE 01 SUBORDINATED 8=9 TOTAL OEt1' SERVICE PRINCIPAL 8 INTEREST 1 [7ygzo �•i as7,i3t • i,L99,436 �1,622,357-I,S20,9t7 fOffl�ffffObYlOffffflff ffffO 1,S36,S42 1,9eb,i76 f�� • 1,67l,aT9 fffiiffifffff�. ••i.an,711 •1.a9s,OS2 -1,925,252 •-2.718.974 ••2.716,999 -2,712.299 - %jJta DEBT SERVICE COVERAGE RATIO ON ' SENIOR /0101 (a) 1.43 1.62 1.93 2.1S 2.37 2.23 2.07 2.02 1.70 2.52 2.63 2.71 2.90 3.09 3.29 DENT SERVICE COVERAGE RATIO ON SUBORDINATED NOW (a) 0.00 0.00 0.00 0.00 0.00 0.00 17.72 8.57 4.78 5.75 5.57 3.67 4.08 4.49 4.92 DEST SERVICE COVERAGE RATIO oN SENIOR BONDS AND SUBORDINATED SONDt (a) 1.43 1.62 1.93 2.15 2.37 2.23 1.95 1.81 1." 1.9! 2.03 t.as 1.96 2.11 2.24 ADDITIONAL (EXCESS) REVENUES TO MEET 1.5 (sla,a79) 34.100 (931.027) c1.025,107) c943.82B) (1.296,532) (1.653,009) (2.020.48B DEBT SERVICE COVERAGE ON ALL DEBT ADDITIONAL OT7[CESS) REVS S TO NEST 1.25 (937.339) (43S.327) (1.404.290) (1.S06.420) (1,623,572) (1.975.782) (2.331.163) (2.699,175 DEST SERVICE COVERAGE ON ALL OUT 6) INTEREST ENCLIDEt APMLWS CAPITALIZED MIND CONSTRIX110M. I Q0 1 DEPARTMENT OF OFF-STREET PARKING MIAMI, FLORIDA TEARS ENDED SEPTEMBER 30 CASH FLOW STATEMENT ALTERNATIVE 91A1 BEGINING CASH i INVESTMENT BALANCES (INCLUDES ALL UNURESTRICTED FUNDS) BEGINING CASH i INVESTMENT BALANCES RESTRICTED (DOESNOT INCLUDE RESTRICTED DEBT RESERVES) ADDITIONS: NET INCOME (LOSS) DEPRECIATION i AMORTIZATION GAINCLOSS) ON DISPOSAL OF PROPERTY AMORTIZATION OF BOND DISCOUNT AND ISSUE COST ADDITION TO LONG TERM DEBT PREPAID EXPENSES RECOVERED FROM BOND ISSUANCE -COCONUT GROVE OTHER DEBT FINANCING PROCEEDS FROM SALE OF LOT 3 SUBTRACTIONS: ADDITIONS OF PROPERTY PLANT i EQUIPMENT DEBT SERVICE (PRINCIPAL ONLY) RECOGNITION OF DEFERRED REVENUES CONTRIBUTION TO RETIREMENT PLAN ENDING CASH i INVESTMENT BALANCES (INCLUDES ALL UNURESTRICITED FUNDS) 0 J< M REQUIREMENT 2 O I 00 ,` 00 t 02-Jul-90 01:43:33 PM PAGE 4 PROJECTED -------•--------- ------------ ---------------------- -------------- ------- 1990 1991 1992 1993 1994 1995 ------------------------------------------------------ $1,538,763 92,959,316 $2,302,479 S2,733,794 S3,566,826 $4,754,064 109,951 301,751 295,367 569,659 541,319 1,132,019 2,040,1 1,950,956 2,285,4922 2,387,9177 21495,4633 2,608,3877 0 97,456 97,456 97,456 0 97,456 0 97,456 0 97,456 0 1.100,000 9,400,000 0 0 0 0 0 0 300,000 0 0 0 0 0 ------------------------------------------------------------------------ 3,647,553 ------------------------------------------------------------------------ 11,750,163 2,678,315 3,055,032 3,434,238 3,837,862 1,775000 11,940000 1,800,000 1,750000 1,750,000 1,750,000 370:000 385:000 415,000 440:000 465,000 500,000 32,000 32,000 32,000 32,000 32,000 32,000 50,000 50,000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -----------------------•-------•--------------...-----...------......... 2.227.000 12,407,000 2,247.000 2,222,000 2,247,000 2,282,000 2,959.316 2,302,479 2,733,794 3,566,826 4,754,064 6,309,927 1,022,291 1,015,130 1,104,930 1,147,348 1,191,463 1,237,342 .amssna�::snsasmnssurnss:::� I' DEPARTMENT OF OFF-STREET PARKING MIAMI FLORIDA CAPITAL BUDGET CAPITAL REQUIREMENTS ----.--•-••__-•---.-_ SOURCE PAGE 5 ALTERNATIVE 91A1 ^ -----------.---.-__.._N »..AIDING ................ PROJECT COST • DOSP RESERVES EW NEW BORROWINGS BORROWINGS 1.0 PROJECT OTHER TOTAL FT1991 _.._ •••-__-• .......... ..................................... MUNICIPAL GARAGE NO. 1 OVERHAUL ELEVATORS f EXTERIOR IMPROVEMENTS 125,000 75.000 125,000 75.000 125,000 TOP DECK - WATERPROOF COATING AND JOINTS 75�Ogp 75,000 � MUNICIPALGARAGE AGEREPNO. 2ELECTRI � 000 PURCHASE TV SURVEILLANCE EQUIPMENT MAJOR 100.000000 100;� 15,000 OVERHAUL TO ELEVATOR EQUIPMENT GARAGE *2 ADDITION 125,000 125,000 100,000 125,000 GARAGE EXPANSION FEASIBILITY STUDY PURCHASE EMERGENCY GENERATOR 4`000'OW 50,000 25 ,000 4.00Q.000 4,000,000 25,0M 50,000 50 50,000 50,000 MUNICIPAL GARAGE MD. 3 - ` PURCHASE EMERGENCY GENERATOR (ELEVATORS AND OFFICE AREA) INSTALL ELEVATOR COMMUNICATION SYSTEM 75,000 75 000 75,ON 25,000 25:000 25,000 GARAGE i LOT REPAIRS VEHICLE . MAJOR REPAIRS i REPLACEMENTS GUTS 1.500.000 100,000 1,500,000 100,000 T,500,000 PARKING LOT COCONUT GROVE PLAYHOUSE GARAGE 250,000 5,400,000 250,000 0 100,000 TOTAL 1991 ................................................ 5,400,000 •• 5 400, 000 , ..................... 11,940,000 .......----•..........•-• 2,5,000 40 0 9,400.000 ..............:0 11,940,000 FT 1992 GARAGE ALOT REPAIRS METERS AND METER PARTS 1,50D,000 1,500,000 1,500,000 VEHICLE MAJOR REPAIRS i REPLACEMENTS GARAGE N0. 1 - EMERGENCY GENERATOR SYSTEM 150,000 100,000 150,000 100,000 150,000 100.000 50,000 ..... ............................................................... 50,000 50,000 TOTAL1992 •- -` 1,800,000 0 0 1,800.000 _ ---•......................•-------•....--•••-•--.......---••------ I Uo I DEPARTMENT OF OFF-STREET PARKING MIAMI FLORIDA CAPITAL REQUIREMENTS ALTERNATIVE 91A1 FT 1993 GARAGE Z LOT REPAIRS METERS AND METER PARTS VEHICLE MAJOR REPAIRS i REPLACEMENTS TOTAL 1993 ! FT 1994 GARAGE i LOT REPAIRS METERS AND METER PARTS VEHICLE MAJOR REPAIRS i REPLACEMENTS TOTAL 1994 FT 1995 GARAGE i LOT REPAIRS METERS AND METER PARTS VEHICLE MAJOR REPAIRS i REPLACEMENTS TOTAL 1995 TOTAL FOR THE FIVE YEAR PERIOD 1991-1995 t a PAGE 5o CAPITAL BUDGET FUNDING SOURCE ..................... .............................................. NEW PROJECT DOSP NEW BORROWINGS COST RESERVES BORROWINGS 1.0 PROJECT OTHER TOTAL ........................................ ---............................ 1.500, E , 1,500E 1,500;000 150 000 100,000 100,000 100. ---------------------------- ------------------------------------ ... 1.750,000 1,750,000 0 0 0 1.750.000 ............................ 1,500,000 1,500,000 1,500,000 150,000 150:000 15500•000000 -- 1�=-----000 100:000------------- ---------------- ------------------- 1,750,000 1,750,000 0 0 0 1,750,000 •-------------•-----•--............................................... 1,500ODD 1,500,000 1,500,000 150:000 150:000 150:000 100,000 100,000 100,000 ---:------------------------ 0 1 750 000 1 750 000 0 0 1,750,000 18,990,000 9,590,000 0 9,400,000 0 18,990,000 assssss:::::s:es: id 9 F TO: Aurelio Perez-Lugones DATE: August 7, 1990 Legislative Administrator FROM: John J. Mulvena SUBJECT: FY 90/91 Budgets for Inclusion Executive Direc r in the September 7, 1990 City Department of 0 -Street Par ing Commission Meeting Agenda Attached are 10. copies of the Department of Off -Street Parking FY 90/91 Budget, FY 90/91 G&O Enterprise Fund Budget and the 1991-1995 Department of Off -Street Parking Strategic and Financial Operations Plan for inclusion in the September 7, 1990 City Commission meeting agenda. Also attached are executed copies of Off -Street Parking Board Resolution Nos. 90-833, 90-834 and 90-837 approving and adopting the respective FY 90/91 budgets and five year plan, as stipulated in the City of Miami Charter 23(g). JJM/pfw attachments 90- 88'7 3a -/ F RESOLUTION NO. 90-837 A RESOLUTION APPROVING AND ADOPTING THE DEPARTMENT OF OFF-STREET PARKING FIVE YEAR STRATEGIC AND FINANCIAL OPERATIONS PLAN, AS AMENDED, AND ATTACHED HERETO. WHEREAS, on January 14, 1988 the City Commission (Motion No. 88-90) approved in principle the Department of Off -Street Parking Five Year Strategic and Financial Operations Plan (dated May, 1987); and WHEREAS, the Department of Off -Street Parking Five Year Strategic and Financial Operations Plan is reviewed and updated on an annual basis in order to incorporate new capital projects and to reflect the current status of capital projects previously included; and WHEREAS, amendments are proposed to the Plan which incorporate increased expenditures for capital projects and garage repairs, maintenance ` and security; - NOW,- THEREFORE, BE IT RESOLVED BY THE -OFF-STREET PARKING BOARD OF THE CITY OF MIAMI, FLORIDA: Section 1. The Five Year Strategic and Financial Operations Plan for the Department of Off -Street Parking is hereby approved as attached, said plan is Lased on the approval of the City Commission's previous adoption of _-- Rate Ordinance No. 10641 on September 28, 1989. PASSED AND ADOPTED this 13th day of July, 1990. / DIANNE SAULNEY SMITH, hairperson PATRICIA WEITZNER, Secp6iary SEAL 90- 887