HomeMy WebLinkAboutR-86-0619J-88-874
7/24/86
RESOLUTION N0.
86-61
A RESOLUTION IDENTIFYING AND DESIGNATING THE
FOLLOWING SOURCES OF FUNDING FOR CAPITAL
IMPROVEMENTS TO CITY PARKS: REVENUE BONDS,
UTILIZING REVENUES GENERATED FROM THE BAYSIDE
SPECIALTY CENTER AND PARKING GARAGE; PROCEEDS
OF THE DADE COUNTY SEAPORT LAND EXCHANGE
SETTLEMENT; INTEREST EARNED ON THE CITY'S 22
MILLION GENERAL OBLIGATION BOND ISSUE; AND UP
TO 6.1 MILLION AVAILABLE FROM THE PROCEEDS OF
THE LAND SALE FOR THE NEW PORT BRIDGE;
FURTHER DIRECTING THE CITY MANAGER TO
FORTHWITH TAKE ALL NECESSARY STEPS AND
APPROPRIATE ACTIONS FOR THE IMMEDIATE
APPROPRIATION OF FUNDS AS INDICATED HEREIN;
AND DIRECTING THAT AN EQUAL AMOUNT COLLECTED
FOR BAYFRONT PARK BE ALLOCATED TO RENOVATE
NEIGHBORHOOD PARKS
WHEREAS, The City of Miami intends to oomplete the
redevelopment of Bayfront Park a000rding to the Noguohi design;
and
WHEREAS, on June 26, 1986, the City Commission adopted by
passage of Motion No. 86-517, the Ad Hoo Committee Report on
Bayfront Park speoifioally recommending a oommunity based Not -
For -Profit Corporation as the management entity for Bayfront
Park; and
WHEREAS, The City of Miami also intends to renovate its
neighborhood parks; and
WHEREAS, the City Commission desires to a000mplish these
oapital improvements to pity parks without any extra oost to City
taxpayers; and
WHEREAS, the amount of funds required to improve these parks
is 18.6 million; and
WHEREAS, these funds will be shared equally on a dollar for
dollar basis between Bayfront Park improvements and Neighborhood
Parks improvements; and
WHEREAS, one-half of the amount oolleoted will be allooated
for the Bayfront Park Redevelopment Projeot; and
CITY CoM Sit
MEETING OF
JUL 24 190
oil M.l GIM61,
WHEREAS, the remaining one-half of the amount collected will
be allocated for Neighborhood Parks improvements;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY
OF MIAMI, FLORIDA:
Section 1. The following funds are hereby identified and
designated as sources of funding for Capital Improvements to City
Parks: Revenue Bonds, utilizing revenues generated from the
Bayside Specialty Center and Parking Garage; from the proceeds of
the Dade County Seaport Land Exchange Settlement; interest earned
on the City's 22 million General Obligation Bond Issue; and up to
6.1 million, available from the proceeds of the land sale for the
new Port Bridge.
Section 2. The City Manager is hereby directed to forthwith
take all necessary steps and appropriate actions for the
immediate appropriation of funds as indicated herein and
directing that an equal amount collected for Bayfront Park be
allocated to renovate neighborhood parks.
PASSED AND ADOPTED this 24th day of July, 986.
ATTEST: IER L. SUAR , MAYOR
MA Y HIRAI
CITY CLERK
s
PREPARED AND APPROVED BY:
ROBS T F.
CHIEF DE-- Y CITY ATTORNEY
i
i
APPROVED 0 TO
LUCIA? A. DOUG
CITY ATTORNEY
RFC/wp0/0m/rr/X191
AND CORRECTNESS:
1
CITY OF MIAM1. FLORIDA
.�
INTER -OFFICE MEMORANDUM y:1 �� � � , .:�;
56
1:L`.. 37
TO: Cesar Odio DATE: 7 / 17 / 86 FILE:
City Manager
SUSPECT: Bayfront Park
FROM: REFERENCES: '
Rosario Kennedy
Commissioner /� ENCLOSURES:
Please place on the July 24 agenda at 11:00 A.M.
the disgussion on the source of funding for Bayfront
Park.
CC: Mr. Al Ruder