HomeMy WebLinkAboutLegislationCity of Miami
Legislation
Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 08-01010b Final Action Date:
A RESOLUTION OF THE MIAMI CITY COMMISSION MAKING APPROPRIATIONS
FROM THE DOWNTOWN DEVELOPMENT DISTRICT AD VALOREM TAX LEVY
AND OTHER MISCELLANEOUS INCOME FOR THE DOWNTOWN
DEVELOPMENT AUTHORITY ("DDA") OF THE CITY OF MIAMI, FLORIDA
("CITY"), FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2008 AND ENDING
SEPTEMBER 30, 2009; AUTHORIZING THE DDA TO INVITE AND ADVERTISE
REQUIRED BIDS; PROVIDING FOR BUDGETARY FLEXIBILITY; PROVIDING
THAT THIS RESOLUTION BE DEEMED SUPPLEMENTAL AND IN ADDITION TO
THE RESOLUTION MAKING APPROPRIATIONS FOR THE FISCAL YEAR
BEGINNING OCTOBER 1, 2008 AND ENDING SEPTEMBER 30, 2009 FOR THE
OPERATIONS OF THE CITY.
WHEREAS, the Board of Directors of the Downtown Development Authority of the City of Miami,
Florida, has approved and submitted to the City Commission an Estimated Budget of the expenditures
and revenues of the Downtown Development Authority for the Fiscal Year beginning October 1, 2008,
and ending September 30, 2009, as prepared by the Executive Director of the Downtown Development
Authority, a copy of said budget having been made available in a newspaper of general circulation of
the City of Miami; and
WHEREAS, the City Commission has reviewed the Downtown Development Authority's Budget;
NOW, THEREFORE, BE IT ORDAINED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are hereby
adopted by reference thereto and incorporated herein as fully set forth in this Section.
Section 2. The following appropriations for Fiscal Year 2008-2009 are hereby approved for the
maintenance and for the purpose of financing the operations and other legal and proper purposes of
the Downtown Development Authority of the City of Miami, Florida
Appropriations Amount
4gency Operating Expenses $1,330,960
:apital Improvements, Urban Design and Transportation $1,762,220
Marketing & Economic Development $1,440,611
policy & Program Development $530,986
:ontingency Reserve $587,663
Subtotal $5,652,440
Multi -Year Projects (Approved in Prior Years) $2,056,459
Escrow $560,821
Downtown DRI Expenses $605,024
Subtotal $3,222.30
City of Miami Page 1 of 2 Printed On: 9/15/2008
File Number: 08-01010b
TOTAL APPROPRIATED FUNDS $8,874.743
Source of Revenue
4d Valorem Tax Levy within the Downtown Development District $4,785,780
Revenue from other agencies $760,024
sash Carryover $711,659
Escrow $560,821
Multi -Year Projects Funding (Approved in Prior Years) $2,056,459
TOTAL REVENUE FOR BUDGET $8,874.743
Section 3. Said appropriations are the anticipated expenditure requirements for the Downtown
Development Authority for the period October 1, 2008 to September 30, 2009, but are not mandatory
should efficient administration of the Downtown Development Authority or altered economic conditions
indicate that a curtailment in certain expenditures is necessary. The Board of Directors of the
Downtown Development Authority is specifically authorized to withhold any of these appropriated funds
from encumbrance or expenditure shall such action appear advantageous to the economic and
efficient operation of the Downtown Development Authority.
Section 4. The Downtown Development Authority is hereby authorized to make transfers between
the detailed accounts comprising any of the amounts appropriated by Section 2 hereof, in order that
the available and required balance in any such account may be used for other necessary and proper
purposes.
Section 5. The Downtown Development Authority is hereby authorized to invite or advertise for
bids for the purpose of any material, equipment or services embraced in the aforementioned
appropriations, for which formal bidding is required, such bids to be returnable as required by law.
Section 6. The Resolution shall be deemed supplemental and in addition to the Resolution making
appropriations for the Fiscal Year beginning October 1, 2008 and ending September 30, 2009 for
operations of the City of Miami.
Section 7. This Resolution shall become effective immediately upon its adoption and
signature of the Mayor.{1}
APPROVED AS TO FORM AND CORRECTNESS:
JULIE O. BRU
CITY ATTORNEY
Footnotes:
{1} if the Mayor does not sign this Resolution, it shall become effective at the end of ten (10) calendar
days from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become
effective immediately upon override of the veto by the City Commission.
City of Miami Page 2 of 2 Printed On: 9/15/2008