HomeMy WebLinkAboutAppropriations Pre LegislationRESOLUTION NO. 33/2008
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
MIAMI DOWNTOWN DEVELOPMENT AUTHORITY ("DDA")
OF THE CITY OF MIAMI, FLORIDA REVISING THE FY 2008-
2009 BUDGET REFLECTING THE FINAL AMOUNT IN THE
CERTIFICATION OF TAXABLE VALUE FOR FY 2008-2009
FROM MIAMI-DADE COUNTY.
WHEREAS, the DDA Board of Directors by DDA Resolution Number 30/2008,
approved and adopted on June 27, 2008, approved the FY 2008-2009 Budget based on an
estimated Ad Valorem Tax Levy within the Downtown Development District; and
WHEREAS, the FY 2008-2009 Budget, approved by DDA Resolution Number 30/2008,
is amended to adjust revenue sources which are available to the DDA; and
WHEREAS, that amount has been revised to reflect the Certification of Taxable Value
for FY 2008-2009 from Miami -Dade County; and
WHEREAS, the budget revisions also incorporate changes to revenue and expenditures
pursuant to Florida Statute 200.065; and
WHEREAS, the DDA recommends revising the line items in the DDA FY 2008-2009
Budget as follows:
Estimated Revenues
Ad Valorem Tax Levy within the Downtown Development District $ 4,785,780
Revenue from other agencies $ 760,024
Cash Carryover $ 711,659
Escrow $ 560,821
Multi -Year Projects Funding (Approved in Prior Years) $ 2,056,459
Total Sources $ 8,874,743
Use of Funds
Agency Operating Expenses $ 1,330,960
Capital Improvements, Urban Design,
Transportation & Services $ 1,762,220
Marketing & Economic Development $ 1,440,611
Policy & Program Development $ 530,986
Contingency Reserve $ 587,663
Subtotal $ 5,652,440
33.Certification of Tax Value FY 09 Budget.doc, Page 1 of 2