HomeMy WebLinkAboutFR/SR MEMO DDA/U Ua �3,6
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DOWNTOWN OEVELOPrviENT AUTHORITY
Memorandum
To: Th ionorable Mayor and Mm hers of the City Commission
From: -Alyce Rob 1-t so
Execu ' e Director
Date: August 13, 2010
Subject: Miami DDA FY 2010-2011
Establishing Territorial Limits and Setting Millage for FY 2010-2011
Re: For September 14, 2010 City Commission Meeting
Recommendation
It is respectfully requested that the City Conunission adopt the attached Ordinance establishing the
territorial limits of the Downtown Development Authority independent taxing district and setting the
millage therefore.
Background
Chapter 14 of the City of 1vliaini Code authorizes the City Conunission 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 mulls
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, 2010 and ending September 30, 2011.
The proposed millage rate is 9.42% less than the rolled -back rate.
AMRJsh
Attaclunents
Cc: Julie 0. Bru, City Attorney (via email)
Veronica Xiques, Assistant City Attorney (via entail)
Elva Gallastegui, Agenda Office (via amain
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