HomeMy WebLinkAboutBoard ResolutionRESOLUTION NO.27/2009
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
MIAMI DOWNTOWN DEVELOPMENT AUTHORITY ("DDA")
OF THE CITY OF MIAMI, FLORIDA REVISING THE FY 2009-
2010 BUDGET REFLECTING THE FINAL AMOUNT IN THE
CERTIFICATION OF TAXABLE VALUE FOR FY 2009-2010
FROM MIAMI-DADE COUNTY.
WHEREAS, the DDA Board of Directors by DDA Resolution Number 26/2009,
approved and adopted on June 19, 2009, approved the FY 2009-2010 Budget based on an
estimated Ad Valorem Tax Levy within the Downtown Development District; and
'WHEREAS, the FY 2009-2010 Budget, approved by DDA Resolution Number 26/2009,
is amended to adjust revenue sources which are available to the DDA; and
WHEREAS., that amount has been revised to reflect the Certification of Taxable Value
for FY 2009-2010 from Miami -Dade County; and
WHEREAS, the budget revisions also incorporate changes to revenue and expenditures
pursuant to Florida Statute 200.065; and
WHEREAS, the DDA recommends revising the line items in the DDA FY 2009-2010
Budget as .follows:
Estimated Revenues
Ad Valorem Tax Levy $ 5,242,778
Revenues from other agencies $ 1,135,000
Fund Balance $ 3,016,251
Total Sources $ 9,394,029
Use of Funds
Agency Operating Expenses $ 907,551
Capital Improvements, Urban Design, Transportation & Services $ 3,164,668.
Marketing & Economic Development $ 2,709,713
Policy & Program Development $ 426,459
Contingency Reserve $ 100,000
Subtotal
Downtown DRI .Expenses
Future Years' Reserve
Total Uses
27.Certifeation of Tax Value YY 2C09_2oiD,rloe; Page 1 of 2
$ 7,308,391
$ 650,000
$ 1.435,638
$ 9,394,029
NOW THEREFORE, be it resolved by the Board of Directors of the Miami .Downtown
Development Authority of the City of Miami, Florida.
Section 1. The recitals are true and correct and are adopted by reference and incorporated
as if fully set forth in this Section.
Section 2. The DDA Board of Directors approves revising the FY 2009-2010 Budget to
levy $5,242,778 in Ad Valorem and collect revenues as delineated above for a total of
$9,394,029.
PASSED AND ADOPTED this 17tb day Lilly, 2009.
Commissioner Joe ly' anchez
Chairman
Alyce '. Robdrtson
Execu e Director
Sandra Hernandez
Secretary to the Board of Directors