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Home My WebLink AboutMCRA-R-08-0002 Legislation• • City of Miami Legislation MCRA Resolution City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 08-00943 Final Action Date: 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, 2008 AND ENDING SEPTEMBER 30, 2009; DIRECTING THE EXECUTIVE DIRECTOR TO TRANSMIT A COPY OF EACH BUDGET TO THE CITY OF MIAMI AND MIAMI-DADE COUNTY. WHEREAS, the Midtown Community Redevelopment Agency ("CRA") is responsible for carrying out redevelopment activities within the Midtown Community Redevelopment Area; and WHEREAS, as a prerequisite to carrying out Fiscal Year 2009 redevelopment activities, it is required that the CRA Board of Commissioners approve the CRA's proposed Fiscal Year 2009 General Operating Budget and Tax Increment Fund Budget; and WHEREAS, pursuant to Interlocal Agreements, a copy of each budget is to be transmitted to the City of Miami and Miami -Dade County; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE MIDTOWN COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF MIAMI, FLORIDA: Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by reference and incorporated herein as if fully set forth in this Section. Section 2. The attached CRA General Operating Budget and Tax Increment Fund Budget for the Fiscal Year commencing October 1, 2008 and ending September 30, 2009 are approved and adopted. Section 3. The Executive Director is directed to transmit a copy of each budget to the City of Miami and Miami -Dade County. Section 4. This Resolution shall become effective immediately upon its adoption. APPROVED AS TO FORM AND CORRECTION: JULIE O. BRU GENERAL COUNSEL City of Miami Page 1 of 1 Printed On: 8/26/2008 Community Redevelopment Agency Midtown Miami Tax Increment Fund Fiscal Year 2009 • • MIDTOWN MIAMI SPECIAL REVENUE FUND BUDGET FY 2008 Approved Budget- Midtown Special Revenue FY 2008 Approved Budget- Midtown Special Revenue FY 2009 Budget - Midtown Special Revenue Revenues ADVALOREM TAXES - CITY OF MIAMI 435,310 478,364 2,098,387 ADVALOREM TAXES - MIAMI DADE COUNTY 300,090 300,103 1,332,561 MISC - INTEREST MISC - NET INCREASE IN FAIR VALUE CARRYOVER FUND BALANCE 400,000 367,971 1,115,409 OTHER NON -OPERATING 20,000 20,000 TOTAL REVENUES 1,155,406 1,166,438 4,546,357 Expenditures ACCOUNTING AND AUDIT 7,000 7,000 7,000 PROFESSIONAL SERVICES - APPRAI PROFESSIONAL SERVICES - LEGAL PROFESSIONAL SERVICES - OTHER OTHER CONTRACTUAL SERVICES CONSTRUCTION IN PROGRESS OTHER GRANTS AND AIDS INTERFUND TRANSFER (City of Miami's Contribution and 1% out of TI F revenue in FY 2009) 27,354 27,354 34,309 INTERFUND TRANSFER BUDGET RESERVE 1,121,052 1,132,084 4,505,048 TOTAL EXPENDITURES 1,155,406 1,166,438 4,546,357 REVENUE LESS EXPENDITURES - - - Community Redevelopment Agency - General Operating (SEOPW, OMNI and Midtowns Fiscal Year 2009 • • • SEOPW, OMNI AND MIDTOWN GENERAL OPERATING FY 2008 Approved July 30, 2007 - Amended Budget General Operating Fund FY 2008 Approved Amended Budget General Operating Fund FY 2009 Budget General Operating Fund, Revenues CARRYOVER FUND BALANCE 400,000 620,667 OTHER INTERFUND TRANSFERS 27,354 27,354 34,309 OTHER INTERFUND TRANSFERS 1,400,000 1,400,000 1,514,810 TOTAL REVENUES 1,827,354 2,048,021 1,549,119 Expenditures REGULAR SALARIES 836,156 836,156 787,420 OTHER SALARIES 52,000 52,000 52,000 FICA TAXES 68,850 68,850 64,216 LIFE AND HEALTH INSURANCE 65,200 65,200 55,200 RETIREMENT CONTRIBUTION 52,237 52,237 50,000 FRINGE BENEFITS 32,400 32,400 OTHER CONTRACTUAL SERVICE 13,730 13,730 13,730 TRAVEL AND PER DIEM 10,000 10,000 8,000 COMMUNICATIONS 8,908 8,908 8,908 UTILITY SERVICE 18,208 18,208 18,532 INSURANCE 23,800 23,800 23,800 OTHER CURRENT CHARGE 10,000 10,000 8,000 SUPPLIES 12,000 12,000 12,000 OPERATING SUPPLIES 8,000 8,000 10,000 SUBSCRIPTION MEMBERSHIP 1,000 1,000 1,000 MACHINERY AND EQUIPMENT 5,000 5,000 5,000 ADVERTISING 40,000 40,000 58,387 RENTAL AND LEASES 200,000 200,000 207,661 POSTAGE 6,500 6,500 6,500 REPAIR/MAINTENANCE - OUTSIDE 2,000 2,000 2,000 INTERFUND TRANSFER 35,000 35,000 35,000 BUDGET RESERVE 326,365 547,032 121,765 TOTAL EXPENDITURES 1,827,354 2,048,021 1,549,119 REVENUE LESS EXPENDITURES - -