HomeMy WebLinkAboutM-87-027559
TO: Honorable Mayor and Members
of the City Commission
FROM: Leslie Panting Sr.
Chairman
Off -Street Parking NBo
RECOMMENDATION
DATE: February 27, 1987
SUBJECT: DEPARTMENT OF OFF-STREET PARKING
CAPITAL PROGRAM
It is recommended that the City Commission review and accept the first
quarterly report of the Off -Street Parking Board regarding the Department of
Off -Street Parking capital program.
CAPITAL PROGRAM: A CITY-WIDE COMMITMENT
The Department of Off -Street Parking maintains a capital program which is
incorporated in the city-wide Capital Improvement Program. The De;.�e�rtment's
program is reviewed quarterly by the Off -Street Parking Board and adopted
annually by the City Commission during the budget public hearings. The
capital program has been oriented over the past five years to support the
City's community development efforts and neighborhood economic development
activities. The capital program reflects a geographical distribution of
proposed capital investments which ensures that neighborhoods throughout the
City benefit.
The Fiscal Year 86/87 capital plan includes projects in many areas of the
City including Edison/Little River, Little Havana, Coconut Grove, Design
District, Allapattah, Civic Center, Overtown/Parkwest, Central Downtown, and
Brickell. Neighborhood parking advisory committees have been formed in the
Coconut Grove, Little Havana, Allapattah, Overtown, and Biscayne Boulevard
areas to increase citizen participation in parking policy development. Due
to the success of these initial neighborhood committees, Department staff
will continue to establish similar neighborhood advisory committees in other
areas where parking related issues are apparent.
In support of the community development goals of the City Commission, the
capital budget includes $14.84 million of projects including parking lots at
the Knight Center walkway site, Southwest 17th Avenue sites in Little Havana,
Jackson Memorial Hospital, Black Grove area in cooperation with GUTS, and an
Arena parking program. Completion of Phase II of the Data Processing Master
Plan and maintenance projects in the existing lots and garages are included
In the capital budget. A graphics and signage upgrade program for Flagler
Street and feasibility studies for garages at the proposed Little Havana
Specialty Center and MDCC Medical Campus are also included in the capital
budget. The largest cost centers are the Coconut Grove Playhouse garage
construction, the acquisition of the Watts and Blate parcels to expand
Municipal Garage Nos. 1 and 2 in the future, and the initial cash flow
s9-1
�oTi o�
s7-27S
necessary for the Olympia Building redevelopment program. The Allapattah
Industrial area economic development contribution and a reserve for
additional neighborhoods completes the capital program.
The capital program by neighborhood is reflected in Attachment 1a and 1b.
The capital program by nature of project is reflected in Attachment 2. The
"Source and Uses" of the funds necessary to finance the projects including an
analysis of the Department reserves is reflected in Attachment 3.
Should the above referenced capital projects be completed during Fiscal Year
86/87, the total number of spaces under management by the Department will
increase to 199770 from the 18,358 spaces projected to be operational at the
beginning of the current fiscal year. The end of the year projected number
Of spaces includes the Bayside Garage which is scheduled to open in April,
1987. This increase continues an expansion of approximately 9,900 spaces
(50 percent) during the past five years.
REQUEST FOR`CITY COMMISSION INVOLVEMENT IN ALLOCATION OF EXCESS REVENUES
The Off -Street Parking Board recognizes that it has an obligation to utilize
legally available funds generated through parking operations in cooperation
with the City Commission and in a manner which will not jeopardize the fiscal
solvency (bond rating) of the Department. These monies would be in addition
to the $1.1 million annually transferred to the City through parking fine
collections, the $120,000 projected to be transferred from the Municipal Lot
No. 24 (FEC) parking facility and other financial support (e.g., $300,000
Downtown Development Authority and advance funding for the Coconut Grove
traffic study) that the Department provides the City throughout the year. An
example of this utilization of available funds is the Department's current
financial assistance for the Miami Design District marketing program as
suggested by the City Commission at the February 12, 1987 City Commission
meeting. The intent of the Off -Street Parking Board is embodied in
Resolution No. 87-870 (Attachment 4).
® Through the implementation of a comprehensive Five Year Strategic and
Financial Operations Plan which was approved by the City Commission on
June 14, 19849 installation of state-of-the-art computerized systems,
appropriate rate adjustments, and an efficiently managed operation the
Department is able to provide important transportation related services while
generating funds beyond bond requirements and prudent establishment of
reserves.
It is the intention of the Off -Street Parking Board to develop an appropriate
mechanism for utilizing these available funds in cooperation with the City
Commission and City Manager. With preparation of the Fiscal Year 87/88
budget soon to be underway, the Off -Street Parking Board is requesting that
the City Manager meet with the Off -Street Parking Board and Department staff
in order to provide direction in the allocation of these available funds. It
is estimated that approximately $500,000 will be available next fiscal year
for discussion as to alternative projects.
V
9
DESIRE TO PARTICIPATE IN DISCUSSION PERTAINING TO REORGANIZATION
The Off -Street Parking Board recently held a special meeting with financial/
legal advisors and City staff to review legal and financial requirements
unique to the organization and operation of the Department of Off -Street
Parking and to review how such constraints would impact a reorganization of
the Department with other development related agencies. The conclusion of
the meeting as expressed in Resolution No. 87-870 (Attachment 4) is that the
Off -Street Parking Board is fully prepared to participate in and cooperate
with the City in discussion of a reorganization which maintains the fiduciary
responsibilities of the Department and improves the ability of the City to
deliver an effective community development program. It is the Off -Street
Parking Board's intent that discussions freely continue with the City
regarding any organizational, financial, or philosophical issues related to
the Department and its activities.
SUMMARY
The goal of this presentations is two -fold. The first is to present the City
Commission with a revised capital program and quarterly update as requested
by the City Commission during the July 109 1986 budget hearing for the
Department of Off -Street Parking. The capital program is equitably
distributed through the city neighborhoods and ensures that parking needs are
addressed in a responsible manner while ensuring the fiscal solvency of the
Department. The net financial impact of the capital program assuming that
the Department generates the projected level of surplus operational revenues
is to allow the sharing of approximately $500,000 during the upcoming fiscal
year.
The second goal is to express the full willingness of the Off -Street Parking
Board to continue discussions with city officials regarding reorganization
and future relationships of the city development oriented programs.
Att: 4
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CAPITAL PROGRAM BY PROJECT
ATTACHMENT 2
Municipal Garages
(Coconut Grove Playhouse Garage;
Improvements to Garage Nos. 19 2, and
3 exclusive of Land Acquisition) .................... $ 79006,234
Land Acquisition Costs ................................ 6,200,000
Municipal Parking Lot Improvements
(exclusive of Land Acquisition) ...................... 451,001
Meters/Neighborhood Economic Development .............. 375,000
Gusman Redevelopment Program 272,766
Signage Program, Feasibility Studies,
and Traffic Studies
(exclusive of garage studies) ........................ 2289000
Data Processing Program ............................... 220,000
Other ................................................. 895
Total $14,8449896
2/87
59-1 6
87-275
DEPARTMENT OF OFF-r,TREGT PARKING
MIAMI, FLORIDA
PROJECTED CAST( FLOW STATMCNT FOR THE
YEAR ENDED SEPTEMBER 30, 1987
BEGINNING CASH A INVESTMENT BALANCES
(INCLUDES ALL UNRESTRICTED FUNDS)
ADDITIONSt
NET INCOME
DEPRECIATION
AMORTIZATION OF RENTAL ADVANCES
AMORTIZATION OF BOND DISCOUNT AND ISSUE COSTS
BOND PROCEEDS (B,C)
OTHER BORROWINGS
PROCEEDS FROM LONG TERM SPACE LEASING
SUBTRACTIONS:
ADDITIONS OF PROPERTY PLANT t EQUIPMENT
TRANSFERS TO CONSTRUCTION ADVANCES
DEBT SERVICE (PRINCIPAL ONLY)
ADDITIONS TO CONSTRUCTION FUND (C)
NET CHANGE IN CURRENT ASSETS i LIAB.
(OTHER THAN CASH AND INVESTMENTS)
, !1
ATTACHMENT 3
First
Second
Third
Fuurtts
Quarter
Quarter
Quarter
ANNUAL
4,194,097
3,944,267
3,875,834
3,96.2,9'aG
4,194,097
123,35a
156,269
156,269
156,269
592,157
265,216
252,288
252,323
252,323
1,022,15a
(4,319)
5,239
5,239
5,241
I1,400
8,780
11,920
I1,920
11,920
44,540
�,aaa,aaa
0
7,a0a,a00
9,ea0,000
2,300,000
2,300,000
a
0
160,aaa
0
160,000
----^-------. -.-----------------------------------
G, 393, 027
------------------------------------------
425, 716
2,885,751
-----
7, 45, 75 .3 -
--13, 1 ^0, 247 -
2,417,690
415,399
2,719,929
2,491,Sao
8,044,897
(86,677)
(86,677)
70,750
78,750
78,750
78,750
315, 0a'a
6,Bela, aa0
C.,Soho, 000
a
233,a94
-----•----------
Z33,094
-----------c---------------------------
2,642,857
494,140
2,798,679
9,37(6,63e-----15,306,314---------------------------------------------------------------------
ENDING CASH i INVESTMENT BALANCES
(INCLUDES ALL UNRESTRICTED FUNDS) 3,944,267 3,878,834 3,962,906 2,018,030 2,010,030
a
NOTES:
A) SCHEDULE ASSUMES THAT CURRENT ASSETS (OTHER THAN CASH A INVESTMENTS AND CURRENT LIABILITIES
WILL REMAIN CONSTANT IN THE SECOND, THIRD, AND FOURTH QUARTERS.
B) DECEMBER BOND PROCEEDS (WATTS TRANSACTION) - NOT A CASH TRANSACTION
C) AUGUST BOND PROCEEDS (COCONUT GROVE) WILL BE PLACED IN A RESTRICTED CONSTRUCTION FUND.
a.:
Utz
i
f
qw
ft
061
C
ATTACHMENT 4
RESOLUTION NO. 87-780
RESOLUTION INFORMING THE HONORABLE MAYOR AND
MEMBERS OF THE CITY COMMISSION OF THE OFF-
STREET PARKING BOARD'S DESIRE TO PARTICIPATE IN
DISCUSSIONS REGARDING A POSSIBLE REORGANIZATION
INVOLVING THE DEPARTMENT OF OFF-STREET PARKING9
THE OFF-STREET PARKING BOARD'S WILLINGNESS TO
ENTER INTO ANY OTHER DISCUSSIONS THAT THE MAYOR
AND COMMISSION MAY DEEM APPROPRIATE;
FURTHERMORE ALERTING THE CITY COMMISSION OF THE
OFF-STREET PARKING BOARD'S INTENTION TO DEFINE,
IDENTIFY. AND UTILIZE EXCESS FUNDS IN A PROCESS
ACCEPTABLE TO THE CITY COMMISSION.
WHEREAS. the City of Miami is considering a reorganization involving
the Department of Off -Street Parking with the Downtown Development Authority
and eventually the Department of Development; and
WHEREAS, the Off -Street Parking Board is interested in participating in
such discussions and is desirous of cooperating to the extent possible given
certain legal requirements; and
WHEREAS. the Off -Street Parking Board is prepared to enter into any
other discussions that the Mayor and City Commission may deem appropriate;
and
WHEREAS9 the Off -Street Parking Board recognizes that it has a
responsibility to define and identify any excess funds and that it has an
obligation to utilize such funds in a form acceptable to the City of Miami:
NOW THEREFORE BE IT RESOLVED BY THE OFF-STREET PARKING BOARD OF THE
CITY OF MIAMI9 FLORIDA:
Section 1. The Off -Street Parking Board hereby informs the Mayor and
the City of Miami Commission of the Board's willingness to cooperate and
enter into discussions regarding reorganization or any other topics deemed
appropriate by the City Commission.
Section 2. The Off -Street Parking Board will begin to define and
Identify excess funds and utilize said funds in a form acceptable to the
City Commission and to the Department's Legal Counsel and Bond Trustees.
PASSED AND ADOPTED this 27th Day o
ATTEST: i
S SAN J. SMT,7H, Secrete
SEAL
872 75
w. w