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Master Report
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 08-01008a
Version: 1
File Name: DDA Millage Rate FY'09
File Type: Discussion Item Status: Filed
Reference: Controlling Body: Office of the City
Clerk
Introduced: 9/12/2008
Requester: Downtown Development Cost: Final Action: 9/25/2008
Authority
Title: FINAL PUBLIC HEARING TO DISCUSS THE MILLAGE RATE AND FINAL BUDGET FOR THE
DOWNTOWN DEVELOPMENT AUTHORITY
THE PROPOSED MILLAGE RATE OF .5 FOR THE MIAMI DOWNTOWN DEVELOPMENT
AUTHORITY FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2008 AND ENDING
SEPTEMBER 30, 2009 IS 4.04 PERCENT HIGHER THAN THE ROLLED BACK RATE OF .4806.
THE MIAMI DOWNTOWN DEVELOPMENT AUTHORITY MILLAGE HAS BEEN SET AT .5
SINCE THE INCEPTION OF THE AGENCY IN 1965.
THE SPECIFIC PURPOSE FOR WHICH AD VALOREM TAX REVENUES ARE BEING
INCREASED IS FOR THE CONTINUED OPERATIONS OF THE MIAMI DOWNTOWN
DEVELOPMENT AUTHORITY INCLUDING CAPITAL IMPROVEMENTS, ENHANCED
SERVICES, MARKETING AND ECONOMIC DEVELOPMENT PROGRAMS.
THE DDA BUDGET FOR THE FISCAL YEAR 2007-2008 WAS BASED ON REVENUES OF
$4,849,209.54. THE PROPOSED DDA BUDGET FOR 08-09 IS BASED ON ESTIMATED
REVENUES OF $5,037,662.74. THIS REPRESENTS AN INCREASE IN REVENUES OF
$188,453.20. (3.9%)
CITY COMMISSION LISTENS AND RESPONDS TO CITIZENS' COMMENTS REGARDING THE
PROPOSED MILLAGE INCREASE AND EXPLAINS THE REASONS FOR THE INCREASE OVER
THE ROLLED BACK RATE.
ACTIONS BY THE CITY COMMISSION:
1. AMEND THE ADOPTED TENTATIVE BUDGET, IF NECESSARY
2. RECOMPUTE THE FINAL MILLAGE RATE, IF NECESSARY
3. PUBLICLY ANNOUNCE THE PERCENT BY WHICH THE RECOMPUTED PROPOSED
MILLAGE RATE EXCEEDS THE ROLLED BACK RATE.
4. ADOPT THE FINAL MILLAGE RATE
5. ADOPT THE FINAL BUDGET OR THE AMENDED FINAL BUDGET AS NECESSARY
Sponsors:
Notes:
Indexes:
Attachments: 08-01008a Discussion Page.pdf,
History of Legislative File
City of Miami Page 1 Printed on 5/15/2017
City of Miami
Master Report
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
Version: Acting Body: Date: Action: Sent To: Due Date: Return Date: Result:
1 City Commission 9/25/2008 DISCUSSED
City of Miami Page 2 Printed on 5/15/2017