The URL can be used to link to this page

Home My WebLink AboutMCRA 2006-07-31 Marked Agenda• City of Miami Marked Agenda City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com Midtown Community Redevelopment Agency Michelle Spence -Jones, Chair Angel Gonzalez, Commissioner Linda M. Haskins, Commissioner Joe Sanchez, Commissioner Tomas Regalado, Commissioner ************************** CRA OFFICE ADDRESS: 49 NW 5th ST, SUITE 100, Miami, FL 33128 Phone: (305) 679-6800, Fax: (305) 679-6835 Monday, July 31, 2006 5:00 PM ICE PALACE (AT BIG TIME PRODUCTIONS) 59 NW 14TH STREET MIAMI, FLORIDA 33136 On the 31st day of July 2006, the Board of Directors of the Midtown Community Redevelopment Agency (MCRA) for the Midtown District of the City of Miami met in regular session at the Ice Palace, 59 Northwest 14th Street, Miami, Florida 33136. The meeting was called to order by Vice Chair Spence -Jones at 5:44 p.m. and was adjourned at 5:48 p.m. Present: Commissioner Linda Haskins, Commissioner Tomas Regalado and Commissioner Michelle Spence -Jones Absent: Commissioner Angel Gonzalez and Commissioner Joe Sanchez ALSO PRESENT: Frank Rollason, Executive Director, CRA, City of Miami Jorge L. Fernandez, General Counsel, CRA James Villacorta, Assistant General Counsel, CRA Priscilla A. Thompson, Clerk of the Board Pamela E. Burns, Assistant Clerk of the Board FINANCIALS 1. 06-01250 MCRA RESOLUTION A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE MIDTOWN COMMUNITY REDEVELOPMENT AGENCY ("CRA"), WITH ATTACHMENT(S), APPROVING AND ADOPTING THE CRA'S PROPOSED GENERAL OPERATING BUDGET AND TAX INCREMENT FUND BUDGET FOR THE FISCAL YEAR COMMENCING OCTOBER 1, 2006 AND ENDING SEPTEMBER 30, 2007; AND DIRECTING THE EXECUTIVE DIRECTOR TO TRANSMIT A COPY OF EACH BUDGET TO THE CITY OF MIAMI AND MIAMI-DADE COUNTY. cover memo 06-01250.pdf, back-up.pdf, Legislation.pdf MCRA-R-06-0002 MOVED: Tomas Regalado SECONDED: Linda Haskins Motion that this matter be ADOPTED PASSED by the following vote. AYE: Commissioner Regalado, Commissioner Michelle Spence -Jones and Commissioner Haskins City of Miami Page 1 Printed on 8/24/2006 Midtown Community Redevelopment Agency Marked Agenda July 31, 2006 ABSENT: Commissioner Gonzalez and Commissioner Sanchez Chair Spence -Jones: Ready to start. Missing anybody? Sanchez and Gonzalez aren't here? Frank Rollason (Executive Director, Community Redevelopment Agency): I know Commissioner Sanchez -- Chair Spence -Jones: Are we ready? Mr. Rollason: -- is not going to be here tonight. Chair Spence -Jones: Are we ready? All right. Good evening and welcome to the Monday, July 31 meeting for the Midtown CRA (Community Redevelopment Agency) and the Southeast Overtown/Park West Omni CRA meeting. We're going to open up first -- and I'm going to turn it over to our director for the CRA, Mr. Frank Rollason, to open us up with the first item. Mr. Rollason: Right. This is a meeting -- this first meeting is just the Midtown CRA, and then we'll adjourn to start the other meetings, and the only item on the agenda is the budget for '07, and the budget reflects the TIF (Tax Increment Fund) that we're anticipating coming in for '07, and the expenditure of that TIF would be to the CDD (Community Development District) in the event that they qualify to get TIF money this year to retire the bonds on the parking garage, so there's very little in the way of administrative expenses. In fact, the City has to give us general fund money to be able to pay the portion of the administrative expenses for the Midtown because we're restricted by one percent in the agreement for administrative money, and it doesn't generate enough to cover the portion of the executive director's salary, and the office, and all that, so the contribution from the general fund is about $41,000 that you see there, and then the rest of the money is appropriated to make the payment for the -- to retire the bonds_ , if the CDD meets the criteria to get the payment. Chair Spence -Jones: Any questions on this item? Commissioner Regalado: No question. Madam Chairman, there's no question on this budget because -- (UNINTELLIGIBLE). Commissioner Haskins: Frank, what general fund is contributing the money for this? Mr. Rollason: What general fund? Commissioner Haskins: Um -hum. Mr. Rollason: The City's general fund. Commissioner Haskins: Can we set that up as a receivable so that when the TIF is great enough to cover that money, the general fund is paid back? It should be great enough next year, after all these -- the retail is CO'd (Certificate of Occupancy). Mr. Rollason: The problem with that is that we're limited to one percent; otherwise, it could cover it now, so it -- once it gets above the amount of money that we need -- we could reimburse, that's not a problem, but right now, I can't reimburse -- Commissioner Haskins: Yeah. That's what I'm saying; just set it up as a liability, and then the general fund would get it back when the TIF is enough -- Mr. Rollason: In subsequent years. 'Commissioner Haskins: -- to generate -- um -hum. Chair Spence -Jones: Any other question? Is there a motion at all on this item? City of Miami Page 2 Printed on 8/24/2006 Midtown Community Redevelopm�fit Agency Marked Agenda July 31, 2006 Commissioner Regalado: Move it. Chair Spence -Jones: Any second? Commissioner Haskins: Second. Chair Spence -Jones: OK. All in favor? The Commission (Collectively): Aye. Chair Spence -Jones: Any opposed? OK. The motion carries, so we're going to move to -- we're going to have to close -- Mr. Rollason: You have to adjourn -- Chair Spence -Jones: -- on Midtown -- Mr. Rollason: -- this meeting. Chair Spence -Jones: -- CRA. Mr. Rollason: Right. City of Miami Page 3 Printed on 8/24/2006