HomeMy WebLinkAboutMemo SRSecond Reading Ordinance
minmi
DOWNTOWN DEVELOPMENT AUTHORITY
Memorandum
To: The Honorable Mayor and Members of the City Commission
From: Alyce M. Robertson
Interim Executive Director
Date: August 15, 2008
Subject: DDA FY 08-09
Millage Ordinance
Re: For September 11, 2008
City Commission Meeting
BH.5
Recommendation
It is respectfully requested that the City Commission adopt the attached Ordinance
establishing the territorial limits of the Downtown Development Authority independent
taxing district and setting the millage therefore.
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, not to exceed five -tenths (.5) mills on the dollar valuation of such
property of financing the operations of the Downtown Development Authority ("DDA").
The DDA millage has been set at .5 mills since the inception of the DDA in 1965.
Attached is an Ordinance for City Commission approval which establishes the
Downtown Development District boundaries, fixes the millage at five -tenths (.5) and
levies taxes for the Fiscal Year beginning October 1, 2008 and ending September 30,
2009.
Encl.
AMR/dv
DOWNTOWN DEVELOPMENT AUTHORITY 200 S. Biscayne Boulevard, Suite 2929 305-579-6675
Wachovia Financial Center 305-371-2423
Miami, Florida 33131
www.miamidda.com