HomeMy WebLinkAboutCover MemoAflIM10MI DDA
=r-- DOWNTOWN DEVELOPMENT AUTHORITY
09-009113
Memorandum
To: The onorable yWVT!=117�
Commission
From: lyce Robe tson
Execut' a Director
Date: August 20, 2009
Subject: Miami DDA FY 2009-2010
Establishing Territorial Limits and Setting Millage for FY 2009-2010
Re: For September 10, 2009 City Commission Meeting
Recommendation
It is respectfully requested that the City Commission adopt the attached Ordinance establishing the
territorial limits of the Downtown Development Authority independent taxing district and setting the
millage therefor.
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, not to
exceed five -tenths (.5) mills on the dollar valuation of such property for financing the operations of
the Miami Downtown Development Authority ("DDA"). The DDA millage has been set at .5 mills
since the inception of the DDA in 1965.
Attached is an Ordinance for City Commission approval, which establishes the Downtown
Development District boundaries, fixes the millage at five -tenths (.5) mills and levies taxes for the
Fiscal Year beginning October 1, 2009 and ending September 30, 2010.
The proposed millage rate is 14.19% less than the rolled -back rate.
AMR/sh
Attachments
Cc: Julie O. Bru, City Attorney (via email)
Veronica Xiques, Assistant City Attorney (via email)
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