HomeMy WebLinkAboutR-08-0554City of Miami
Legislation
Resolution: R-08-0554
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 08-01010b Final Action Date: 9/25/2008
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
Dapital Improvements, Urban Design and Transportation $1,762,220
Marketing & Economic Development $1,440,611
Policy & Program Development $530,986
contingency 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 File Id: 08-01010b (Version: 1) Printed On: 5/16/2017
File Number: 08-01010b Enactment Number: R-08-0554
TOTAL APPROPRIATED FUNDS $8,874,743
Source of Revenue
4d Valorem Tax Levy within the Downtown Development District $4,785,780
evenue from other agencies $760,024
Cash 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}
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 File Id: 08-01010b (Version: 1) Printed On: 5/16/2017