HomeMy WebLinkAboutM-87-0389BAYFRONT PARK REDEVELOPM.�
PROJECTED REVENUES AND EXPENDITURES
REVENUES:
National Endowment for the Arts
$ 509000
Bandshell Parking Revenues
759000
Virginia Key Landfill Sale
2009000
FPAL Franchise Revenues
5259000
1972 Parks Bonds
550000
U.S. Interior Conservation Grant
456,000
Capital Improvement Fund Balance
4569000
Community Development Block Grant
1009000
Florida Recreation Program
2009000
Rouse - Miami Contribution
1,000,000
J L Knight Foundation Contribution
.6589000
UDAG Grant
690139000
Lee b Tina Hills Fund
1109000
1980 G.O. Bonds Interest
5009000
Various Private Donations
1539000
Dade County Land Exchange
5109000
New Port Bridge Land Sale
299509000
Proposed Bond Sale
493509000
Expected Future Priv to D vr.
� �'
967,000
Total Revenues �/'RX.�yrnNN
1993289000
EXPENSES:
*
*
*
*
Phase I - Construction MtV 6-eovi aw/�rr�.�d� 2,692,400
Phase II - Construction it It 89587,166
Phase III - Amphitheater uli/lam aftadd I"I"'w
Phase IV - Chopin Plaza l a.sTJA4 Tab. °f''e� 814 84 i rr sj ,r m%
Phase V - Pepper Fountain �r�texT ����09 2, 1 , 2 �,t;,�
Other Costs 15 6L a a+dc� 1,804:835 ,TiD
Total Expenses 229233,669 R;e:
SHORTFALL
$ 2 , 905 , 669d,—'
* Same amounts totalling $8,310,000 have also been appropriated
for Neighborhood Parks.
35
CITY OF MIAMI, FLORIDA
INTER-O"ICE MEMORANDUM
TO. Honorable Mayor and Members
of the City Commission
FROM: Cesar H. Odio
City Manager
DATL. - APR 211987 inLE:
SUSUECT: Discussion. Item Regarding
Participation in Loan Pool
Program
REFERENCEC i ty Commission Meeting of
April 30, 1987
ENCLOSURES:
The Finance Department has been examining the most efficient
means of financing the 8ayfront Park Redevelopment Project and
the City-wide Parks Improvement Program.
The financing mechanism which, upon initial examination, seems to
provide the most economical financing are the currently
established "loan pools" which were created prior to the
enactment of the Federal Tax Reform Act. The City of Miami is
eligible to participate in these loan pools.
The loan pools available to the City provide long term loans at
an initial variable rate that is convertible to a fixed rate at
the City's option. The expenses associated with the issue are
very low due to the pool concept.
The City Administration will return to the City Commission for
approval of the necessary documents associated with the
participation in the Loan Pool Program.
cc: Law Department