HomeMy WebLinkAboutLEGISLATIONFile Number: 10-00937
Final Action Date:
A DISCUSSION OF THE MIAMI CITY COMMISSION REGARDING A
RESOLUTION OF THE MIAMI CITY COMMISSION MAKING APPROPRIATIONS
FROM THE DOWNTOWN DEVELOPMENT DISTRICT AD VALOREM TAX LEVY
AND OTHER MISCELLANEOUS INCOME, FOR THE DOWNTOWN
DEVELOPMENT AUTHORITY ("DDA") OF THE CITY OF MIAMI, FLORIDA
("CITY"), FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2010 AND ENDING
SEPTEMBER 30, 2011; AUTHORIZING THE DDA TO INVITE AND ADVERTISE
REQUIRED BIDS; PROVIDING FOR BUDGETARY FLEXIBILITY; PROVIDING
THAT THIS RESOLUTION BE DEEMED SUPPLEMENTAL AND IN ADDITION TO
THE RESOLUTION MAKING APPROPRIATIONS FOR THE FISCAL YEAR
BEGINNING OCTOBER 1, 2010 AND ENDING SEPTEMBER 30, 2011, FOR THE
OPERATION OF THE CITY.
WHEREAS, the Board of Directors of the Downtown Development Authority of the City of Miami,
Florida has approved and submitted to the City Commission an Estimated Budget of the expenditures
and revenues of the Downtown Development Authority for the Fiscal Year beginning October 1, 2010
and ending September 30, 2011, as prepared by the Executive Director of the Downtown Development
Authority, a copy of said budget having been made available in a newspaper of general circulation of
the City; and
WHEREAS, the City Commission has reviewed the Downtown Development Authority's Budget;
NOW, THEREFORE, BE IT ORDAINED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by
--- - reference -and -incorporated -as fully -set forth in-this-Section.
Section 2. The following appropriations for Fiscal Year 2010-2011 are hereby approved for the
maintenance and for the purpose of financing the operations and other legal and proper purposes of
the Downtown Development Authority of the City of Miami, Florida.
Estimated Revenues
Ad Valorem Tax Levy
Other Revenue
Carryover Funds from Prior Years
Downtown Development Regional Impact (DRI) Funds
GENERAL FUND DRI FUND TOTAL ALL FUNDS
4,903,312 4,903,312
190,000 190,000
2,114,013 2,114,013
500,000 500,000
Total Sources 7,207,325 500,000 7,707,325
City of Miami Page I of 2 File Id. 10-00937 (version: 1) Printed On: 8/30/2010
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Discussion Item
File Number: 10-00937
Final Action Date:
A DISCUSSION OF THE MIAMI CITY COMMISSION REGARDING A
RESOLUTION OF THE MIAMI CITY COMMISSION MAKING APPROPRIATIONS
FROM THE DOWNTOWN DEVELOPMENT DISTRICT AD VALOREM TAX LEVY
AND OTHER MISCELLANEOUS INCOME, FOR THE DOWNTOWN
DEVELOPMENT AUTHORITY ("DDA") OF THE CITY OF MIAMI, FLORIDA
("CITY"), FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2010 AND ENDING
SEPTEMBER 30, 2011; AUTHORIZING THE DDA TO INVITE AND ADVERTISE
REQUIRED BIDS; PROVIDING FOR BUDGETARY FLEXIBILITY; PROVIDING
THAT THIS RESOLUTION BE DEEMED SUPPLEMENTAL AND IN ADDITION TO
THE RESOLUTION MAKING APPROPRIATIONS FOR THE FISCAL YEAR
BEGINNING OCTOBER 1, 2010 AND ENDING SEPTEMBER 30, 2011, FOR THE
OPERATION OF THE CITY.
WHEREAS, the Board of Directors of the Downtown Development Authority of the City of Miami,
Florida has approved and submitted to the City Commission an Estimated Budget of the expenditures
and revenues of the Downtown Development Authority for the Fiscal Year beginning October 1, 2010
and ending September 30, 2011, as prepared by the Executive Director of the Downtown Development
Authority, a copy of said budget having been made available in a newspaper of general circulation of
the City; and
WHEREAS, the City Commission has reviewed the Downtown Development Authority's Budget;
NOW, THEREFORE, BE IT ORDAINED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by
--- - reference -and -incorporated -as fully -set forth in-this-Section.
Section 2. The following appropriations for Fiscal Year 2010-2011 are hereby approved for the
maintenance and for the purpose of financing the operations and other legal and proper purposes of
the Downtown Development Authority of the City of Miami, Florida.
Estimated Revenues
Ad Valorem Tax Levy
Other Revenue
Carryover Funds from Prior Years
Downtown Development Regional Impact (DRI) Funds
GENERAL FUND DRI FUND TOTAL ALL FUNDS
4,903,312 4,903,312
190,000 190,000
2,114,013 2,114,013
500,000 500,000
Total Sources 7,207,325 500,000 7,707,325
City of Miami Page I of 2 File Id. 10-00937 (version: 1) Printed On: 8/30/2010
File Number: 10-00937
Use of Funds
Agency Operating Expenditures
Capital Improvements, Urban Design, Transportation & Services
Marketing & Economic Development
Subtotal
Property Valuation Contingency
Downtown Development Regional Impact (DRI) Expenditures
Total Uses
1,047,122
1,047,122
2,691,900
2,691,900
2,768,303
2,768,303
6,507,325
6,507,325
7,000,000
700,000
500,000
5,000,000
7,207,325 500,000
7,707,325
Section 3. Said appropriations are the anticipated expenditure requirements for the Downtown
Development Authority for the period October 1, 2010 to September 30, 2011, but are not mandatory
should efficient administration of the Downtown Development Authority or altered economic conditions
indicate that a curtailment in certain expenditures is necessary. The Board of Directors of the
Downtown Development Authority is specifically authorized to withhold any of these appropriated funds
from encumbrance or expenditure shall such action appear advantageous to the economic and
efficient operation of the Downtown Development Authority.
Section 4. The Downtown Development Authority is hereby authorized to make transfers between
the detailed accounts comprising any of the amounts appropriated by Section 2 hereof, in order that
the available and required balance in any such account may be used for other necessary and proper
purposes.
Section 5. The Downtown Development Authority is hereby authorized to invite or advertise for
bids for the purpose of any material, equipment or services embraced in the aforementioned
appropriations, for which formal bidding is required, such bids to be returnable as required by law.
Section 6. The Resolution shall be deemed supplemental and in addition to the Resolution making
appropriations for the Fiscal Year beginning October 1, 2010 and ending September 30, 2011 for
operations of the City of Miami.
Section 7. This Resolution shall become effective immediately upon its adoption and signature of
the Mayor. {1)
APPROVED AS TO FORM AND CORRECTNESS:
JULIE O. BRU
CITY ATTORNEY
Footnotes:
{1} If the Mayor does not sign this Resolution, it shall become effective at the end of ten calendar
days from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall
become effective immediately upon override of the veto by the City Commission.
City of Miami Page 2 of 2 File Id. 10-00937 (Version: 1) Printed On: 8/30/2010