HomeMy WebLinkAboutMCRA-R-12-0003 04-26-12 Legislation with AttachmentCity of Miami
Legislation
CRA Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 12-00406 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 SECOND AMENDED SPECIAL
REVENUE FUND BUDGET AND GENERAL OPERATING BUDGET FOR THE
FISCAL YEAR COMMENCING OCTOBER 1, 2011 AND ENDING SEPTEMBER 30,
2012; FURTHER DIRECTING THE EXECUTIVE DIRECTOR TO TRANSMITA
COPY OF THE AMENDED BUDGETS TO THE CITY OF MIAMI AND MIAMI-DADE
COUNTY.
WHEREAS, the Board of Commissioners of the Midtown Community Redevelopment Agency,
by Resolution No. MCRA-R-11-0006, passed and adopted on July 28, 2011, approved and adopted the
CRA's Special Revenue Fund Budget and General Operating Budget for the fiscal year commencing
October 1, 2011 and ending September 30, 2012; and
WHEREAS, the Board of Commissioners, by Resolution No. MCRA-R-12-0001, passed and
adopted on February 27, 2012, approved and adopted the Amended Special Revenue Fund Budget
and General Operating Budget for Fiscal Year 2012 based the amount of tax increment funds actually
received; and
WHEREAS, it is necessary to amend the budget as per the Interlocal Cooperation Agreement,
dated June 30, 2005, the Second Amended Special Revenue Fund Budget and General Operating
Budget for Fiscal Year 2012, reflects the correction requested by Miami Dade County. The funds that
were listed under line item "Other Grants and Aids", has been removed and allocated to the line item
for "Administration"; and
WHEREAS, the Board of Commissioners wishes to approve and adopt the CRA's Second
Amended Special Revenue Fund Budget and General Operating Budget for the fiscal year
commencing October 1, 2011 and ending September 30, 2012;
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 CRA's Second Amended Special Revenue Fund Budget and General Operating
Budget for the fiscal year commencing October 1, 2011 and ending September 30, 2012, as attached,
is approved and adopted.
Section 3. The Executive Director is directed to transmit a copy of the amended budgets to the
City of Miami and Miami -Dade County.
Ciry of Miami Page 1 of 2 File Id: 12-00406 (Version: 1) Printed On: 9/18/2012
File Number. 12-00406
Section 4. This resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND CORRECTNESS:
JULIE O. BRU
GENERAL COUNSEL
City of Miami Page 2 of 2 File Id: 12-00406 (Version: 1) Printed On: 4/18/2012
MIDTOWN SPECIAL REVENUE FUND BUDGET
FY 2012
Amended
Budget -
MIDTOWN
Special
Revenue
Revenues
* AD VALOREM - CITY OF MIAMI
$1,001,196
* AD VALOREM - MIAMI DADE COUNTY
$635,531
MISC -INTEREST
CARRYOVER FUND BALANCE
TOTAL REVENUES
$1,636,727
Expenditures
PROFESSIONAL SERVICES - LEGAL
$0
ACCOUNTING AND AUDIT
$3,000
PROFESSIONAL SERVICES - OTHER
$0
OTHER CONTRACTUAL SERVICES
$0
INTERFUND TRANSFER (Administration)
$13,367
INTERFUND TRANSFER (Grant)
$0
OTHER CURRENT CHARGES AND OBLIG
$1,620,360.
INTERFUND TRANSFER (Debt Service)
$0.
CONSTRUCTION IN PROGRESS
$0
OTHER GRANTS AND AIDS
$0:
BUDGET RESERVE
$0
TOTAL EXPENDITURES
$1,636,727
REVENUE LESS EXPENDITURES
$D
* Taxable Value in the.CRA District - (DR.422)
LessBase. Vaiue.(2004)
Tax increment Value
Divided'by
Multiplied by
City Millage.(estimate)
County Kline (estimate)
Gross Ad 'Valorem -City of Miami
Gross Ad Valorem - Miami Dade County
FY 2010 Estimated Ad Valorem Value Adjustment
Divided by
MUItlplied.by
City Miliage (estimate)
County Millage (estimate)
FY 2010 Estimated Ad Valorem Adjustment (City of Miami)
FY 2010Estimated Ad Valorem Adjustment (Miami Dade County)
Net Ad Valorem - City of Miami
Net Ad Valorem - Miami Dade County
1
$172,216,084
($29,281,592)
$142,934,432
51,000
95%
7.571
4.805
$1,028,049
5652,460
$3,683,437
$1,000
95%
7.674
4.8379
(26,853.36)
(16,929.09)
$1,001,196
$635,531