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City of Miami
Legislation
MCRA Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 10-00157 Final Action Date:
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE MIDTOWN
COMMUNITY REDEVELOPMENT AGENCY ("CRA") AUTHORIZING PAYMENT, IN AN
AMOUNT NOT TO EXCEED 83,862,462, TO THE MIDTOWN MIAMI COMMUNITY
DEVELOPMENT DISTRICT, IN ACCORDANCE WITH THE SECOND AMENDMENT
TO THE INTERLOCAL AGREEMENT DATED MAY 28, 2004; FUNDS TO BE
ALLOCATED FROM THE MIDTOWN TAX INCREMENT FUND, "OTHER CURRENT
CHARGES AND OBLIGATIONS," ACCOUNT CODE NO.
10000.920101.549000.0000.00000.
WHEREAS, the Midtown Community Redevelopment Agency ("CRA") is responsible for carrying
out community redevelopment activities and projects in accordance with its Redevelopment Plan ("Plan");
and
WHEREAS, on September 23, 2008, the City of Miami ("City"), Miami -Dade County ("County"), the
Midtown Miami Community Development District ("CDD") and the CRA executed a Second Amendment to
the Interlocal Agreement dated May 28, 2004 ("Second Amendment"); and
WHEREAS, the Second Amendment provides that the tax increment revenues being held by the
CRA shall be paid to the CDD each year to repay the bonds issued to finance the "Parking Garage Project;"
and
WHEREAS, the Board of Commissioners wishes to authorize payment to the CDD in accordance
with the Second Amendment;
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 as if fully set forth in this Section.
Section 2. Payment of tax increment fund revenues, in an amount not to exceed $3,862,462, to the
Midtown Miami Community Development District, in accordance with the Second Amendment to the
Interlocal Agreement dated May 28, 2004, is authorized.
Section 3. Funds to be allocated from the Midtown Tax Increment Fund, "Other Current Charges
and Obligations," Account Code No. 10000.920101.549000.0000.00000.
Section 4. This Resolution shall become effective immediately upon its adoption.
City of Miami
Page 1 of 2 File Id: 10-0015 (I ersioii: 0 Printed On: 2/5/2010
File Number.- 10-00157
APPROVED AS TO FORM AND CORRECTNESS:
JULIE O. BRU
GENERAL COUNSEL
City gf.tiieln
Page 2 af? Filed: 10-0015'(l'ersion: l) Printed Ora: 2;5;2010