HomeMy WebLinkAboutPre-LegislationRESOLUTION NO. 20/2007
A RESOLUTION OF THE BOARD OF DIRECTORS OF
THE MIAMI DOWNTOWN DEVELOPMENT
AUTHORITY ("DDA") OF THE CITY OF MIAMI,
FLORIDA, APPROVING THE ANNUAL BUDGET OF
THE MIAMI DOWNTOWN DEVELOPMENT
AUTHORITY FOR THE FISCAL YEAR BEGINNING
OCTOBER 1, 2007 AND ENDING SEPTEMBER 30, 2008,
REQUESTING THAT THE MIAMI CITY COMMISSION
ESTABLISH THE MILLAGE AND ALLOCATE OTHER
FUNDS TO SUPPORT THE FINANCIAL
REQUIREMENTS OF THE BUDGET; AUTHORIZING
THE EXECUTIVE DIRECTOR AND TREASURER OF
THE DOWNTOWN DEVELOPMENT AUTHORITY TO
EXPEND FUNDS UNDER THE NEW BUDGET;
DIRECTING THE EXECUTIVE DIRECTOR TO FILE A
DETAILED STATEMENT OF THE PROPOSED
EXPENDITURES AND ESTIMATED REVENUES FOR
THE FISCAL YEAR BEGINNING OCTOBER 1, 2007 AND
ENDING SEPTEMBER 30, 2008 WITH THE CITY CLERK
OF THE CITY OF MIAMI AFTER ADOPTION AND
ESTABLISHMENT OF THE MILLAGE BY THE MIAMI
CITY COMMISSION; AND FURTHER PROVIDING
THAT A COPY OF THIS RESOLUTION BE FILED WITH
THE CITY CLERK OF THE CITY OF MIAMI.
WHEREAS, the Miami Downtown Development Authority (DDA) of the City of
Miami, Florida has prepared a budget for the Fiscal Year beginning October 1, 2007 and
ending September 30, 2008; and
WHEREAS, the Board of Directors of the DDA has reviewed said budget, said
budget being based on the Estimated Tax Roll provided by Miami -Dade County; and
WHEREAS, the Board of Directors of the DDA finds that the proposed budget is
necessary in order to further the objectives of the Downtown Development Authority, as
authorized by City Ordinance.
20.Approve Budget FY 07.08.doc. Page I of 3
NOW THEREFORE, be it resolved by the Board of Directors of the Miami
Downtown Development Authority of the City of Miami, Florida.
Section 1. The recitals are true and correct and are adopted by reference and
incorporated as if fully set forth in this section.
Section 2. The budget of the DDA, as submitted by the Executive Director, is
made part of this Resolution and is hereby approved as shall be known as the "Annual
Budget of the Miami Downtown Development Authority: Fiscal Year October 1, 2007
through September 30, 2008".
Section 3. The following appropriations for the Fiscal Year beginning
October 1, 2007 and ending September 30, 2008 are hereby made for the maintenance
and for the purpose of financing the operation and other legal and proper purposes of the
Miami Downtown Development Authority of the City of Miami, Florida, to wit:
PERSONNEL SERVICES $1,918,953
PROFESSIONAL SERVICES AND SPECIAL PROJECTS $3,937,547
OPERATING EXPENSES $898,500
TOTAL REQUIRED FUNDS $6,755,000
CONTINGENCIES $150,000
SOURCE OF REVENUE
AD VALOREM TAX LEVY WITHIN THE
DOWNTOWN DEVELOPMENT DISTRICT $4,750,000
MIAMI DDA PROJECTS ACCOUNT $2,155,000
TOTAL REVENUE FOR BUDGET
$6,905,000
20.Approvc Budget FY 07-OS.doc. Page 2 of 3
Section 4. The Commission of the City of Miami is requested to adopt said
budget and establish the millage, authorized by law, to support the financial requirements
of this budget.
Section 5. The Executive Director and the Treasurer of the Miami Downtown
Development Authority are authorized to expend funds, including new salary rates, as
provided in said budget, after adoption and establishment of the millage by the Miami
City Commission, upon the first day of the 2007-2008 Fiscal Year, October 1, 2007.
Section 6. The Executive Director of the DDA is directed to prepare and file
with the City Clerk of the City Miami, Florida detailed statement of the proposed
expenditures and estimated revenues for the Fiscal Year 2007-2008 which shall be
entitled "Annual Budget of the Downtown Development Authority: Fiscal Year October
1, 2007 through September 30, 2008".
Section 7. A copy of this Resolution and the attachment shall be filed with the
City Clerk of the City of Miami, Florida after adoption of the millage by the City of
Miami Commission.
PASSED AND ADOPTED this 15`h day of June, 2
TTEST:
Sandra Hernandez 3
Secretary to the Board of the Directors
J
rman
Dula A. N f ttinOam
Executive Dire or
nchez
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