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MOM! DDA
DOWNTOWN DEVELOPMENT AUTHORITY
Memorandum
To: The .notable Mayoy and Membgrs of the City Commission
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From: yce '. Roberts din, Interim Executive Directo
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Date: September 16, 2008
Subject: DDA FY 08-09
Appropriations Resolution
Re: For September 25, 2008
City Commission Meeting
Recommendation
It is respectfully requested that the City Commission adopt the attached Appropriations
Resolution for the Downtown Development Authority for the fiscal year beginning
October 1, 2008 and ending September 30, 2009.
Background
Chapter 14 of the City of Miami Code authorizes the City Commission to levy an
additional ad 'valorem tax on all real and personal property within the Downtown
Development District for the purpose of financing the operations of the Downtown
Development Authority.
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%)
Attached for City Commission approval is an Appropriations Resolution for the
Downtown Development Authority for the Fiscal Year beginning October 1, 2008 and
ending September 30, 2009.
Encl.
AMR/mjn
MiA I DOWNTOWN DEVELOPMENT AUTHORITY 200 S. Biscayne Boulevard, Suite 2929
Wachovia Financial Center
Miami, Florida 33131
?hone 305.579-6675 lweirwww_miamidda-com
Fax 305-371-2423