HomeMy WebLinkAboutCover Memoimiorni DDA
DOWNTOWN DEVELOPMENT AUTHOR
IMemorandum
To: The Honorable Mayor and Members of the City Commission
From: Dana A. Nottingham
Executive Director
Date: June 12, 2007
Subject: Proposed DDA Millage Rate for FY 2007-2008
Re: For July 10, 2007 City Commission Meeting
Diktgtw-
Recommendation
It is respectfully requested that the City Commission approve the attached Resolution establishing
the FY 2007-2008 Millage rate for the Downtown Development Authority of the City of Miami,
Florida.
Background
In 1980, the State of Florida Legislature enacted the House Bi11-4D entitled "Truth in Millage"
("TRIM BILL"), which has been incorporated into the Florida Statutes under Section 200. The
TRIM BILL also stipulates that the proposed millage rate be submitted to the Property Appraiser
and Tax Collector and included in the City's tax notices mailed to property owners.
The City Commission is authorized under Chapter 14 of the City of Miami Code to levy an
additional ad valorem tax on all real and personal property in the Downtown Development
District, not to exceed one-half (1/2) mill, for the purpose of financing the operations of the
Downtown Development Authority.
The proposed millage rate for the DDA for the Fiscal Year beginning October 1, 2007 and ending
September 30, 2008 is .5 mill.
The Miami City Commission must also establish the dates and times of the first and second
public hearings in connection with the DDA FY 2007-2008 proposed Millage Rate and Budget.
As in past years, the DDA's public hearings should be scheduled for the same dates and the
Ctiy's.
DAN/sh
Attachments
Cc: Jorge L. Fernandez, City Attorney (via email)
Priscilla Thompson, City Clerk (via email)
Miami Downtown Development Authority
200 S. Biscayne Boulevard, Suite 2929
Wachovia Financial Center
Miami, Florida 33131
Tel: 305.579.6675
Fax: 305.371.2423
Web: www.miamidda.com