HomeMy WebLinkAboutMCRA-R-10-0004 Legislation 10-14-2010City of Miami
Legislation
MCRA Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 10-01202 Final Action Date:
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE MIDTOWN
COMMUNITY REDEVELOPMENT AGENCY ("CRA") APPROVING THE
APPLICATION OF DDR MIAMI AVE, LLC, WITH THE CITY OF MIAMI, FOR AN AD
VALOREM TAX EXEMPTION ON TANGIBLE PERSONAL PROPERTY PURSUANT
TO SECTION 56-112 OF THE CODE OF THE CITY OF MIAMI, FLORIDA;
FURTHER FINDING NO FISCAL IMPACT ON THE CRA REDEVELOPMENT
TRUST FUND.
WHEREAS, DDR Miami Ave, LLC ("DDR") operates a business within the Midtown Community
Redevelopment Area; and
WHEREAS, DDR has filed, with the City of Miami, an application for an ad valorem tax
exemption pursuant to Section 56-112 of the Code of the City of Miami, Florida; and
WHEREAS, new or expanding businesses located within a community redevelopment area are
eligible for ad valorem tax exemptions on tangible personal property; and
WHEREAS, pursuant to City Code Section 56-112(f), applicants for an ad valorem tax
exemption must obtain approval from the board of the CRA within which their business is located ; and
WHEREAS, DDR now comes before this Board for the approval of its application with the City
of Miami; and
WHEREAS, the tax exemption, if granted, will have no impact upon the tax increment revenues
to be paid into the CRA's redevelopment trust fund, as required by Section 163.387(1)(a), Florida
Statutes; and
WHEREAS, the Board of Commissioners wishes to approve, within the meaning of Section
56-112(f) of the Code of the City of Miami, DDR's application for an ad valorem tax exemption on its
tangible personal property;
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 application of DDR Miami Ave, LLC, with the City of Miami, for an ad valorem
tax exemption pursuant to Section 56-112 of the Code of the City of Miami, Florida, is approved.
Section 3. The Board finds that a grant from the City of Miami to DDR Miami Ave, LLC, of an ad
valorem tax exemption on tangible personal property has no fiscal impact on the CRA redevelopment
City of Miami Page 1 of 2
File Id: 10-01202 (Version: 1) Printed On: 10/6/2010
File Number: 10-01202
trust fund.
Section 4. This resolution shall become effective immediately upon its adoption .
APPROVED AS TO FORM AND CORRECTNESS:
JULIE O. BRU
GENERAL COUNSEL
Cify of Miami Page 2 of 2 File Id: 10-01202 (Version: 1) Printed On: 10/6/2010