HomeMy WebLinkAboutO-107594 r ,
J-90-576
7/11/90
ORDINANCE NO. 10759
AN EMERGENCY ORDINANCE APPROPRIATING $490,793
TO THE SOUTHEAST OVERTOWN/PARK WEST
REDEVELOPMENT TRUST FUND FROM AVAILABLE TAX
INCREMENT REVENUES FOR THE PURPOSE OF MAKING
AN INTEREST PAYMENT ON A U.S. HUD SECTION 108
LOAN FOR PHASE I LAND ACQUISITION.
WHEREAS, the Southeast Overtown/Park West Redevelopment
Trust Fund has been established to receive tax increment monies
generated by the Southeast Overtown/Park West Community
Redevelopment Project, from which funds may be appropriated to
cover certain project costs, including project financing costs
and other project implementation expenses; and
WHEREAS, the Southeast Overtown/Park West Redevelopment
Trust Fund contains sufficient balances to allow draws to be made
from said Fund for these specific project activities; and
WHEREAS, the City Commission, by Resolution No. 83-187,
authorized the approval of an Interlocal Cooperation Agreement
between Metropolitan Dade County and the City of Miami requiring
the prior approval of the Dade County Commission for any
expenditures from the Southeast Overtown/Park West Redevelopment
Trust Fund; and
WHEREAS, by Resolution No. 85-742, the City Commission
authorized the execution of a Promissory Note for a Section 108
Loan in the amount of $5,958,400 for Phase I land acquisition for
the Southeast Overtown/Park West Community Redevelopment Project;
and
WHEREAS, an interest payment in an amount not to exceed
$490,793 is due on the aforementioned Section 108 Loan on
August 1, 1990;
NOW, THEREFORE, BE IT ORDAINED BY THE COMMISSION OF THE
CITY OF MIAMI, FLORIDA:
10759
SECTION 1. Funds in the amount of $490,793 are hereby
/to
appropriated the Southeast Overtown/Park West Redevelopment Trust
Fund from available tax increment revenues for the purpose of
making a HUD Section 108 Loan interest payment due August 1,
1990.
SECTION 2. All ordinances or parts of ordinances,
insofar, as they are inconsistent with the provisions of this
Ordinance, are hereby repealed.
SECTION 3. If any section, part of section, paragraph,
clause, phrase or word of this Ordinance is declared invalid, the
remaining provisions of this Ordinance shall not be affected.
SECTION 4. This Ordinance is hereby declared to be an
emergency measure on the grounds of urgent public need for the
preservation of peace, health, safety and property of the City of
Miami, and upon the further grounds of the necessity to make the
required and necessary payments to its employees and officers,
payment of its debt, necessary and required purchases of goods
and supplies, and to generally carry on the functions and duties
of municipal affairs.
SECTION 5. The requirement of reading this Ordinance on
two separate days is hereby dispensed with by a vote of not less
than four -fifths of the members of the Commission.
SECTION 6. This Ordinance shall take effect immediately
upon its passage.
PASSED AND ADOPTED this 12thday of July , 1990.
VIER L. SUA}ZE
-2-
1,0759
BUDGETARY REVIEW & APPROVAL:
FINANCIAL REVIEW & APPROVAL:
DEPARTMENT 6F-oVU GET
PREPARED AND APPROVED BY:
CA S GARCIA, DIRECTOR
DEPARTMENT OF FINANCE
APPROVED AS TO FORM AND
CORRECTNESS:
LINDA K. KEARSON JO GE FERNAN EZ ~�
ASSISTANT CITY AT ORNEY CITY ATTORNE
-3-
10759
CITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
o: Honorable Mayor and Members
of t e City Commission
'Rona : Cesar H. Odio
City Manager
RECOMMENDATION:
DATE : JUL
;U_ 3 1990 FILE :
SUBJECT : Trust Fund Appropriations
Southeast Overtowh/Park
West Redevelopment
Project
REFERENCES:
ENCLOSURE07/ 12/90 Commission Mtg.
It is respectfully recommended that the City Commission adopt the
attached ordinance appropriating $490,793, from the Southeast
Overtown/Park West Redevelopment Trust Fund for the purpose of
making an interest payment on a HUD Section 108 Loan for Phase I
land acquisition; authorizing the City Manager, to seek approval
from the Dade County Commission for use of Redevelopment Trust
Funds.
BACKGROUND:
The Department of Development has analyzed the need for this
action, which represents the use of tax increment revenues
derived from the Southeast Overtown/Park West Community
Redevelopment Area.
By Resolution No. 85-742 (July 5, 1985) the City Commission
authorized the execution of a Promissory Note with the U.S.
Department of Housing and Urban Development (HUD) for a
$5,95.8,400 Section 108 Loan for the purpose of funding the
purchase of Phase I development land. The loan is guaranteed by,
future HUD CDBG entitlement funds and is required to be totally
repaid with the issuance of tax increment revenue bonds.
An.interest payment of $490,793 is due on the -Sect ' iun 108 federal
loan on August 1, 1990 and is a required part ofthe Promissory
Note Ob,ligations.,
The Interlocal' Agreement between the City and Dade County for
this. project, authorized by the City Commission by. Resolution No.
83-187, requires the City to.obtain County approval for any
budgeted appropriations from the Redevelopment Trust Fund.
Attachments:
Tax Increment Revenue Projections
Proposed.Ordinance
SOUTHEAST OVERTOWN/PARK WEST REDEVELOPMENT PROJECT 05/31/90
TAX INCREMENT REVENUE PROJECTIONS
CITY & COUNTY COMBINED
TOTAL
TOTAL
FISCAL
AREA
TOTAL
APPLICABLE*
YEARLY
ARENA RENT
YEARLY
PROJECTED YEAR END
YEAR
VALUATION
INCREMENT
MILLAGE
NET REVENUE
CONTRIBUT.
REVENUE
EXPENSES BALANCE
1982/83=======$78,305,502---Base
---.-----N/A
Year
--------N/A
-----
------0------
----------------0----
N/A
- - 0
----------------------------------------------------------------------
1983/84
$77,8699266
($436,236)
N/A
N/A
--------------------------------------------
0
0
0 0
-----------------------------------------------------------------------------------------------------------------
1984/85
$77,442,148
($863,354)
N/A
N/A
0
0
0 0
-----------------------------------------------------------------------------------------------------------------
1985/86
(1)
$86f762,119
$8,456,617
17.3140
$139,097
1985/86
(2)
$37,461,910
Base Year
N/A
N/A
Total
$86,762,119
$8,456,617
17.3140
$139,097
0
$139,097
0 $139,097
---------------------------------
1986/87
(1)
$97,745,067
--------------------------------------------------------------------------------
$19,419,565
17.1350
$316,442
1986/87
(2)
$46,898,.016
$0,436,106
17.1350
$153,603
Total
$144,643,083
$28,875,671
17.1350
$470,045
0
$470,045
$319,456 $289,686
----------------------------------
(1)
$98,167-1995
:
$19,862,493
16.8945
$318,789
1987/88
(2)
$46,890,953
$9,429,043
16.8945
$151,334
Total
$145,058,948
$29,291.,536
16.8945
$470,123
0
$470,123
$534,449 $225,360
------------------------------------------------------------------=--------------------------------
1988/89
(1)
$98,43.9,287
$20,133,785
16.8885
$323,028
--------------
1988/89
(2)
$46,791,682-
$9,329,772
16.8885
$149,688
Total
$145,230,969
$29,463,557
16.8885
$472,716
$0
$472,716
$490,793 $207,282-
----------------------------
1989/90
(1)
$95,531,415
--------------------------------------------------------------------------------------
$17,225,913
16.9125
$�76,767
1989/90
(2)
$63,226,466
$25,764,556
16.9125
$413,956
Total
---------------------=--------------------=----------------------------------------------------------------------
$158,757,881
$42,990,469
16.9125
$690,722
$300,000
$990,722
$490,793 $707,211
N
1990/91 (3)
$168,945,881
$53,1 8 46
7 9
16.6945
$843,399
$300,000
$1,143,399
$490,793
$1,359,816
1991/92**(4)
$207,741,175
$91,973,763-----16.6945--$1,458,683--$3
00,000---$1,758,683--"
$490,793---$2,627,706--
----------
9993 --
1 2/ (5)
-------- -------==_=-----------------------------
$266,128,234
$150,360,822
16.6945
$2,384,689
$300,000
$2,684,689
$2,476,793
$2,835, 02
1993/94
------------------------------------------------------------------------------------
$279,434,645
$163,667,233
16.6945
$2,595,725
$300,000
$2,895,725
$2,313,195
$3,41 ,132
- -
1994/95
$293 406 378
$177 638,966-----16.6945-
$2 817 314$300,000---$3,117,314r--$2,149,598_-
--
$4,385,848
--
* Applicable millage is (a) County General Fund + (b) City General. Fund.
** City estimates for years after. 1992 are based upon.estimates of a 5% increase in total area valuation per year.
1 1982/83 Original
2 1985/86 Addition
3 Includes
4 Includes
$12,735,000
$12,735,000
valuation
valuation
for
for
the
the
Arena
Arena
Towers.
Towers and $25,200,000 for the Biscayne View Apts.
5 Includes
$60,000,000
valuation
for
the
Phase
I Gran -Central Office Tower.
G
CO
1
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MIAMI REVIEW
Published Daily except Saturday, Sunday and
Legal Holidays
Miami, Dade County, Florida.
STATE OF FLORIDA
COUNTY OF DADE:
Before the undersigned authority personally appeared
Octelma V. Ferbeyre, who on oath says that she Is the
Supervisor of Legal Advertising of the Miami Review, a daily
(except Saturday, Sunday and Legal Holidays) newspaper,
published at Miami in Dade County, Florida; that the attached
copy of advertisement, being a Legal Advertisement of Notice
In the matter of
CITY OF MIAMI LEGAL NOTICE
Ordinance No. 10759.
Inthe......X..X..X............................ Court,
was published In said newspaper In the Issues of
August 3, 1990
Afflant further says that the said Miami Review is a
newspaper published at Miami In sold Dade County, Florida,
and that the said newspaper has heretofore been continuously
published In said Dade County, Florida, each day (except
Saturday, Sunday and Legal Holidays) and has been entered as
second class mail matter at the post office In Miami In said
Dade County, Florida, for a period of one year next preceding
the first publication of the attached copy of advertisement; and
afflenl further says that she has neither paid nor promised any
person or corporation an c nt, rebate, commission
or refynd for the purpose urin this advertisement for
publ atiprl in the said no, r.
�. � �. • • X Q�36vorn�id a�fibed before me this
CJ • bb • w
....3.. � of ; .�l�t� .� �.., A.D. 1g... 9Q .
..... ..... •srF`r' .C��ryl yam- ...... .
it Marmer
ftLPV�cltate-2l Florida at Largo
(SEAL) �''��� ` • •'. Y ```�
My CommietS��expiree�Ap41O1�,\Qi.
MR 114 i��"""toilets
�II Q il 11!
AUG 13
Pill 2: 29
(SEE ATTACHED)
Page 1 of 2
ORDINANCE NO.10761
CITY OF MIAMI, FLORIDA
LEGAL NOTICE
All interested persona will take notice that on the 12th day of
July, 1990, the City Commission of Miami, Florida, adopted the
following titled ordinances:
ORDINANCE NO.10768
AN EMERGENCY ORDINANCE ESTABLISHING A NEW SPECIAL
REVENUE FUND ENTITLED: "MOTORCYCLE GRAND PRIX
1990," APPROPRIATING FUNDS FOR ITS OPERATION IN THE
AMOUNT OF $125,000 FROM THE STATE OF FLORIDA;
DEPARTMENT OF COMMERCE; DIVISION OF ECONOMIC
DEVELOPMENT; CONTAINING A REPEALER PROVISION AND
SEVERABILITY CLAUSE.
ORDINANCE NO. 10767
AN EMERGENCY ORDINANCE AMENDING SECTION 1 OF
ORDINANCE NO. 10642, THE CAPITAL IMPROVEMENT APPRO-
PRIATIONS ORDINANCE, ADOPTED SEPTEMBER 28, 1989, AS
AMENDED, BY DECREASING THE TOTAL APPROPRIATIONS
TO THE CAPITAL PROJECT ENTITLED "SOLID WASTE COL-
LECTION EQUIPMENT — FY'90.91', PROJECT NO. 353010, IN
THE AMOUNT OF $195,445.00, SAID DECREASE BEING MADE
IN FUNDS AVAILABLE FROM PROCEEDS OF CERTIFICATE OF
PARTICIPATION NOTES; CONTAINING A REPEALER PROVISION
AND A SEVERABILITY CLAUSE.
ORDINANCE NO.10766
AN EMERGENCY ORDINANCE AMENDING SECTIONS 3 AND 5
OF ORDINANCE NO. 10648, THE ANNUAL APPROPRIATIONS
ORDINANCE FOR THE FISCAL YEAR ENDING SEPTEMBER 30.
1990, ADOPTED SEPTEMBER 28, 1989, AS AMENDED, BY
INCREASING THE APPROPRIATION FOR THE GENERAL SERV-
ICES ADMINISTRATION: FLEET MAINTENANCE DIVISION, IN
THE AMOUNT OF $287,284 FROM CERTIFICATE OF PARTICI-
PATION NOTES FOR THE PURPOSE OF PURCHASING CITY
VEHICLES; CONTAINING A REPEALER PROVISION AND A BEV-
ERABILITY CLAUSE.
ORDINANCE NO. 10759
AN EMERGENCY ORDINANCE APPROPRIATING $490,793 TO
THE SOUTHEAST OVERTOWNIPARK WEST REDEVELOPMENT
TRUST FUND FROM AVAILABLE TAX INCREMENT REVENUES
FOR THE PURPOSE OF MAKING AN INTEREST PAYMENT ON
A U.S. HUD SECTION 108 LOAN FOR PHASE 1 LAND
ACQUISITION.
ORDINANCE NO. 10780
AN EMERGENCY ORDINANCE ESTABLISHING FOUR (4) NEW
SPECIAL REVENUE FUNDS ENTITLED: "JTPA TITLE HOLDER
WORKER (FY'91)," "JTPA TITLE IIAINEIGHBORHOODS JOBS
PROGRAM (FY'91)." "JTPA TITLE IIIIDISLOCATED WORKERS
(FY'91)" AND "OFFICE OF INTERGOVERNMENTAL LIAISON
(FY'91);" APPROPRIATING FUNDS FOR OPERATION OF EACH
COMPONENT IN THE RESPECTIVE AMOUNTS OF $108,750,
$523,200, $142,8W AND $55,000 FROM U.S., DEPARTMENT OF
LABOR GRANT AWARDS; AND FURTHER AUTHORIZING THE
CITY MANAGER TO ACCEPT THE AFOREMENTIONED GRANT
AWARDS AND ENTER INTO THE NECESSARY AGREEMENTS
WITH THE SOUTH FLORIDA EMPLOYMENT AND TRAINING
CONSORTIUM; CONTAINING A REPEALER PROVISION AND A
SEVERABILITY CLAUSE.
AN ORDINANCE RESCINDING RESOLUTION NO. 82.992,
ADOPTED OCTOBER 28, 1982, AND RESCINDING COMMISSION
POLICY 2100.1 (REVISED) CONCERNING REQUESTS TO THE
CITY COMMISSION FOR CHANGING STREET NAMES OR DES-
IGNATIONS IN THE CITY OF MIAMI; FURTHER, REVISING THE
ALTERNATIVES TO RENAMING STREETS AND ESTABLISHING
NEW CRITERIA AND STANDARDS FOR STREET CODESIGNA-
TION; CREATING A PERMANENT STREET CODESIGNATION
REVIEW COMMITTEE, SETTING FORTH THE PURPOSE AND
FUNCTION OF SAID COMMITTEE, AND SETTING FORTH THE
RULES FOR THE CONDUCT OF PUBLIC HEARINGS OF SAID
COMMITTEE; ESTABLISHING NEW SECTIONS 54-90 THROUGH
54.95 IN THE CODE OF THE CITY OF MIAMI, FLORIDA, AS
AMENDED,
ORDINANCE NO.10762
AN EMERGENCY ORDINANCE AMENDING SECTION 1 OF
ORDINANCE NO. 10642, ADOPTED SEPTEMBER 28, 1989, AS
AMENDED, THE CAPITAL IMPROVEMENTS APPROPRIATIONS
ORDINANCE, BY MODIFYING CERTAIN FUNDING SOURCES
FOR FIFTEEN PARKS AND RECREATION PROJECTS AND BY
INCREASING APPROPRIATIONS TO THE PROJECT ENTITLED
"DOWNTOWN COMPONENT OF METRORAIL, STAGE II —
CONTRIBUTION," PROJECT NO. 343229, IN THE TOTAL
AMOUNT OF $2,100,000; APPROPRIATING FUNDS THEREFOR
FROM GUARANTEED ENTITLEMENT REVENUE BONDS —
FY'89; CONTAINING A REPEALER PROVISION AND A SEVER.
ABILITY CLAUSE.
ORDINANCE NO.10763
AN EMERGENCY ORDINANCE AMENDING SECTIONS 1, 2,3
AND 5 OF ORDINANCE NO. 10848, THE ANNUAL APPROPRIA-
TIONS ORDINANCE FOR THE FISCAL YEAR ENDING SEPTEM-
BER 30, 19W, ADOPTED SEPTEMBER 26, 1989, AS AMENDED,
FOR THE PURPOSE OF IMPLEMENTING BUDGETARY ADJUST-
MENTS TO COMPLY WITH GENERALLY ACCEPTED ACCOUNT-
ING PRINCIPLES AS OUTLINED BY THE CITY'S EXTERNAL
AUDITORS; CONTAINING A REPEALER PROVISION AND A
SEVERABILITY CLAUSE.
ORDINANCE NO.10764
AN ORDINANCE CREATING A COCONUT GROVE SPECIAL
EVENTS DISTRICT BOUNDED ON THE NORTH BY OAK AVE-
NUE, ON THE SOUTH BY THE SHORELINE OF BISCAYNE BAY,
ON THE EAST BY MARY STREET AND KENNETH MEYERS
PARK, AND ON THE WEST BY MACDONALD STREET, COM-
MODORE PLAZA AND PEACOCK PARK; LIMITING THE NUM-
BER OF SPECIAL EVENTS HELD WITHIN SAID DISTRICT;
CREATING AND ESTABLISHING THE COCONUT GROVE STAND-
ING FESTIVAL COMMITTEE; ESTABLISHING A SUPPLEMEN-
TARY USER FEE FOR SAID EVENTS; PROVIDING FOR A
REPEALER PROVISION, SEVERABILITY CLAUSE; AND PROVID-
ING FOR INCLUSION IN THE CITY CODE.
Said ordinances may be Inspected by the public at the Office of
the City Clerk, 3500 Pan American Drive, Miami, Florida, Monday
through Friday, excluding holidays, between the hours of 8-00 a.m.
and 5:00 p.m.
(8925)
NATTY HIRAI
CITY CLERK
8/3 MIAMI, FLORIDA
9a4-080323M
.1
CO
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