HomeMy WebLinkAboutPre Legislation 2RESOLUTION NO. 34/2005
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
MIAMI DOWNTOWN DEVELOPMENT AUTHORITY ("DDA")
OF THE CITY OF MIAMI, FLORIDA INCREASING THE FY
2005-2006 BUDGET TO THREE MILLION FIVE HUNDRED
EIGHTY THOUSAND THREE HUNDRED SIXTY-TWO
DOLLARS ($3,580,362) REFLECTING THE FINAL AMOUNT IN
THE CERTIFICATION OF TAXABLE VALUE FOR FY 2005-
2006 FROM MIAMI-DADE COUNTY.
WHEREAS, the approved FY 2005-2006 Budget was based on an estimated Ad Valorem
Tax Levy within the Downtown Development District in the amount of Three Million Five
Hundred Fifty Thousand Dollars ($3,550,000); and
WHEREAS, that amount has been increased to a final amount of Three Million Five
Hundred Eighty Thousand Three Hundred Sixty-two Dollars ($3,580,362) reflected in the
Certification of Taxable Value for FY 2005-2006 from Miami -Dade County; and
WHEREAS, the DDA recommends increasing the Professional Services and Special
Projects line items in the DDA FY 2005-2006 Budget from Eight Hundred Ten Thousand Six
Hundred Ninety-eight Dollars ($810,698) to Eight Hundred Forty-one Thousand Sixty Dollars
($841,060) in order to increase the total budget amount to Three Million Five Hundred Eighty
Thousand Three Hundred Sixty-two Dollars ($3,580,362) as follows:
PER.SONNEI.,. SER.VICiS $1,785,501.00
PROFESSIONAL SERVICES ANI) SPECIAL PROJECTS $841,060.00
OPERATING EXPENSES $903,801.00
TC) i`Ai.: REQUIRED FUNDS $3,530,362.00
(.'')N'I'I.NGENCII: S $50,000.00
SOURCE OF REVENUE
AI.) VALO1.I:IVl "I"AX. .I:.ANY WITHIN I -'I -II
1)OWN'I'OWN DEVELOPMENT .I.),IS`i'RICT $3,580,362.00
TOTAL REVENUE FOR BUDGET $3,580,362.00
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
MIAMI DOWNTOWN DEVELOPMENT AUTHORITY OF THE CITY OF MIAMI,
FLORIDA.
34 ncreaae 06 Bdgi $3,580,362.doc, Pap I of 2
Section l . The recitals are true and correct and are adopted by reference and incorporated
as if fully set forth in this Section.
Section 2. The DDA Board of Directors approves increasing the FY 2005-2006 Budget to
Three Million Five Hundred Eighty Thousand Three Hundred Sixty-two Dollars ($3,580,362)
reflecting the final amount in the Certification of Taxable Value for FY 2005-2006 from Miami -
Dade County.
PASSED AND ADOPTED this 15'h day .1_uly, 2005.
o issioner Johnny L. Winton
airman
a A. of ngham
Executive D rector
Sandra Hernandez
Secretary to the Board of Directors
34 ncrease 06 8dgr $3,580,362.docPage 2 of 2