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HomeMy WebLinkAboutExhibits 2s 6 & 19 have been removed from this map. 5 J H. E 2 VIIAVW- 5,0 5 J H. E 2 VIIAVW- 5 J H. E Exhibit "B" Budget/Year 1 BID COCONUT GROVE BID Budget, Year 1, BID Income Parking Waiver Revenue $ 394,000 City of Miami General Fund $ 200,000 Parking Surcharge Revenue $ 287,000 Sp. Events Supplemental Fees $ 25,000 Sidewalk Caf6 Fees $ 62,000 Banner Fees $ 3,000 City Streams of Revenue $ 971,000 Projected BID Assessment Rev. $ 490,379 Total Projected Income $ 1.461.379 Expenses Income Sources Sanitation $ 180,000 D (131,5oo) A (48,soo) Security $ 251,500 A (251,500) Marketing $ 234,789 D (90.789) C(90,00o) A(54,000) Event Development $ 102,000 D (102,000) Retenanting of Grove $ 78,000 D (78,000) Streetscape Development & Maint. $ 287,000 B (2.87,000) Parking Waiver Reserve $ 40,000 A (40,000) General & Administrative $ 288,000 D (88,000), A (200,000) Total Projected Expenses $ 1,461,289 Proposed Sources of Income to Pay Expenses "A" Parking Waiver ($394,000): Security ($251,500), Parking Waiver Reserve ($40,000) Marketing ($54,000) Sanitation (48,500) "A" Miami General Fund ($200,000): Genera] & Administrative ($200.000) "B" Parking Surcharge ($287,000): Streetscape and Maintenance ($287,000) "C" Sidewalk, Banner, and Supplemental Fees ($90,0oo): Marketing ($90,000) "D" BID assessments ($490,379): Sanitation ($131,500) , Marketing ($90,789), Event Dev. ($102,000), Retenanting Grove ($78,000), Gen. & Administrative ($88,000) Composite Exhibit "C" ASSESSMENT (7-15-08) Year One Properties (Sectors 1-18) Area (Sq. Ft.) Rate Total Retail/Restaurant 361,997 0.26 * $ 94,119.22 Office 376,857 0.26 * 97,982.82 Total 738,854 $ 192,102.04 Maior Properties (more than 200,000 Sq. Ft) Rate Assessment CocoWalk 196 120.18 18,000.00 **** Retail/Restaurant/Office 197,000 0.26 * $ 51,220.00 Parking 353,669 0.05 ** 17,683.45 Other Adjusted Square Footage 139,639 0.26 * 36,306.14 Total Assessment 105,209.59 75% Cap of Total CocoWalk Assessmen 78,907.19 Ma air Retail/Restaurant 118,461 0.26 * $ 30,799.86 Office 138,534 0.26 * 36,018.84 Parking 482,334 0.05 * 24,116.70 Other Adjusted Square Footage 37,887 0.26 * 9,850.62 Total Assessment $100,786.02 75% Cap of Total Mayfair Assessmen 75,589.52 Parking (with bldg.) The Knife (rear) 8,700 0.05 ** $ 435.00 Allure -Aladdin (rear) 14,100 0.05 ** $ 705.00 Oak Avenue Garage 141,001 0.05 ** $ 7,050.05 Total 163,801 $ 8,190.05 Parking (without bldg.) Paradise Pkg. (Playhouse) 45,875 0.15 *** $ 6,881.25 Commodore Plaza Pkg. 1,843 0.15 *** 276.45 Commodore Plaza Pkg. 2,824 0.15 *** 423.60 Commodore Plaza Pkg. 2,500 0.15 *** 375.00 3100 Florida Avenue 7,068 0.15 *** 1,060.20 3140 Grand Avenue 17,530 0.15 *** 2,629.50 Coconut Grove Bank 53,388 0.15 *** 8,008.20 Coconut Grove Bank 81,675 0.15 *** 12,251.25 Amer. Carparks (Sonesta) 90,000 0.15 *** 13,500.00 Total 302,703 $ 45,405.45 Office Bldas. In Sector 20 Office in the Grove 105,062 0.15 *** $ 15,759.30 2675 South Bayshore Dr. 10,560 0.15 *** 1,584.00 Grand Bay Tower (102 folios) 133,443 0.15 *** 20,016.45 Total 249,065 $ 37,359.75 Hotels Room Count Rate Assessment DoubleTree Hotel 196 120.18 18,000.00 **** Grand Bay Hotel 177 120.18 18,000.00 **'* Residence Inn by Marriott 140 120.18 16,825.20 **' Total $ 52,825.20 Total Assessment -37- $ 490,379.20