HomeMy WebLinkAboutMemoAtIMICIMI DDA BH.6
Memorandum
DOWNTOWN DEVELOPMENT AUTHORITY
To: The op norable Mr y�n Me b the City Commission
From: lyce M Robe son
Executi a Director
Date: September 15, 2009
Subject: Miami DDA FY 2009-2010
Appropriations Resolution for FY 2009-2010
Re: For September 24, 2009 City Commission Meeting
Recommendation
It is respectfully requested that the City Commission adopt the attached Appropriations Resolution
for the Miami Downtown Development Authority for the Fiscal Year beginning October 1, 2009 and
ending September 30, 2010.
Background
Chapter 14 of the City of Miami Code authorizes the City Commission to levy an additional ad
valorem tax on all real and personal property within the Downtown Development District for the
purpose of financing the operations of the Miami Downtown Development Authority ("DDA").
The DDA budget for the Fiscal Year 2008-2009 was based on revenues of $8,874,743. The proposed
DDA budget for FY 2009-2010 is based on estimated revenues of $9,394,029. This represents an
increase in revenues of $519,286 (5.85%).
Attached for City Commission approval is an Appropriations Resolution for the Miami Downtown
Development Authority for the Fiscal Year beginning October 1, 2009 and ending September 30,
2010.
The attached budget incorporates salary concessions proffered at the September 10, 2009 public
hearing.
AMR/sh
Attachments
Cc: Julie O. Bru, City Attorney (via email)
Veronica Xiques, Assistant City Attorney (via entail)
Elva Gallastegui, Agenda Office (via email)
Vanessa Lopez, Agenda Office (via email)
Miami Downtown Development Authority Tel: 305.579.6675
200 S. Biscayne Boulevard, Suite 2929 Fax: 305.371.2423
Wachovia Financial Center Web: www.miamidda.com
Miami, Florida 33131