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Home My WebLink AboutCRA-R-08-0015 Legislation• City of Miami Legislation GRA Resolution City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 08-00197 Final Action Date: A JOINT RESOLUTION OF THE BOARDS OF COMMISSIONERS OF THE SOUTHEAST OVERTOWN/PARK WEST AND OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCIES ('CRAS"), WITH ATTACHMENTS, APPROVING AND ADOPTING THE CRAS' AMENDED TAX INCREMENT FUND AND GENERAL OPERATING BUDGETS FOR THE FISCAL YEAR COMMENCING OCTOBER 1, 2007 AND ENDING SEPTEMBER 30, 2008; DIRECTING THE EXECUTIVE DIRECTOR TO TRANSMIT A COPY OF THE AMENDED BUDGETS TO THE CITY OF MIAMI AND MIAMI-DADE COUNTY WHEREAS, the Southeast Overtown/Park West, and Omni Redevelopment District Community Redevelopment Agencies ("CRAs"), pursuant to Resolution Nos. CRA-R-07-0024 and CRA-R-07-0025 adopted on July 30, 2007, approved and adopted the CRAs' FY '08 General Operating and Tax Increment Fund Budgets; and WHEREAS, it has become necessary to amend the budgets to reflect the amount of tax increment funds actually received in January 2008 and the actual timing of expenditures; and WHEREAS, the Boards of Commissioners wish to approve and adopt the CRAs' Amended Tax Increment Fund and General Operating Fund Budgets for the Fiscal Year commencing October 1, 2007 and ending September 30, 2008. NOW, THEREFORE, BE IT RESOLVED BY THE BOARDS OF COMMISSIONERS OF THE SOUTHEAST OVERTOWNIPARK WEST AND OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCIES 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. The attached CRAs' Amended Tax Increment Fund and General Operating Budgets for the Fiscal Year commencing October 1, 2007 and ending September 30, 2008 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 CORRECTNESS: JULIE O. BRUT 0 GENERAL COUNSEL City of ttliar►r i Page 1 of 2 Printed On: 3/25/2008 File Number: 08-00197 • • City of Miami Page 2 of 2 Printed On: 3/25/2008 Community Redevelopment Agency South East Overtown Park West Tax Increment Fund Fiscal Year 2008 • SEOPW SPECIAL REVENUE FUND BUDGET FY 2007 ° Approved Amended Budget - SEOPW Special Revenue FY 2008 Approved July 30, 2007 - Budget - SEOPW Special Revenue FY 2008 Proposed Amended Budget - SEOPW Special Revenue Revenues ADVALOREM TAXES - CITY OF MIAMI 2,995,946 3,407,794 3,568,307 ADVALOREM TAXES - MIAMI DADE COUNTY 2,410,430 2,228,086 2,228,137 MISC - INTEREST 10,000 10,000 10,000 MISC - NET INCREASE IN FAIR VALUE 1,500 1,500 1,500 CARRYOVER FUND BALANCE 6,573,475 10,541,547 11,804.141 OTHER NON -OPERATING 2,100,000 530,408 TOTAL REVENUES 14,091,351 16,188,927 18,142,493 Expenditures ACCOUNTING AND AUDIT 45,000 46,000 40,000 PROFESSIONAL SERVICES - APPRAI - - - PROFESSIONAL SERVICES - LEGAL 247,664 230,045 145,298 PROFESSIONAL SERVICES - OTHER 705,721 535,860 485,203 OTHER CONTRACTUAL SERVICES 319,646 375,106 547,912 CONSTRUCTION IN PROGRESS 5,865,665 10,341,916 12.180.867 OTHER GRANTS AND AIDS 2,594,935 3,085,000 3.518,213 INTERFUND TRANSFER 410,000 760,000 410,000 INTERFUND TRANSFER 700,090 700,000 700,000 BUDGET RESERVE 3,202,720 115,000 115,000 TOTAL EXPENDITURES 14,091,351 16,188,927 18,142,493 REVENUE LESS EXPENDITURES - - - 3/25/20084:28 PM 1 Community Redevelopment Agency Omni Tax Increment Fund Fiscal Year 200E • OMNI SPECIAL REVENUE FUND BUDGET FY 2007 Approved Amended Budget OMNI Special FY 2008 Approved July 30, 2007 Budget OMNI Special Revenue FY 2008 Proposed Amended Budget OMNI Special Revenue Revenues AD VALOREM - CITY OF MIAMI 6,221,593 7,049,571 7,444,383 AD VALOREM - MIAMI DADE COUNTY 5,288,712 4,652,245 4.652,351 MISC -INTEREST 20,000 20,000 20,000 CARRYOVER FUND BALANCE 9,943,481 15,374,783 18,739,032 MISC -NET INCREASE IN FAIR VALUE 1,500 1,500 1,500 TOTAL REVENUES 21,475,286 27,098,099 30,857,266 Expenditures ACCOUNTING AND AUDIT 25,000 23,500 18,500 PROFESSIONAL SERVICES - LEGAL 48,675 43,600 25,300 PROFESSIONAL SERVICES - OTHER 417,155 450,606 422,588 OTHER CONTRACTUAL SERVICES - 200,000 200,000 CONSTRUCTION IN PROGRESS 9,463,778 19,145,557 20.102,995 OTHER GRANTS AND AIDS 5,268,126 4,999,922 3,411,873 INTERFUND TRANSFER 700,000 700,000 700.000 INTERFUND TRANSFER 42,500 12,500 BUDGET RESERVE 4,080,052 92,414 634,148 AIDS TO GOVERNMENT AGENCIES 1,430,000 1,430,000 5,341.862 TOTAL EXPENDITURES 21,475,286 27,098,099 30,857,266 REVENUE LESS EXPENDITURES - - - 3/25/20084:27 PM 1 Community Redevelopment Agency - General Operating (SEOPW, OMNI and Midtown) Fiscal Year 2008 SEOPW, OMNI AND MIDTOWN GENERAL OPERATING FY 2007 Approved AmendedJuly Budget - General Operating Fund FY 2008 Approved 30, 2007 - Amended Budget General Operating Fund FY 2008 Proposed Amended Budget General Operating Fund Revenues CARRYOVER FUND BALANCE 419,000 400,000 620.667 OTHER INTERFUND TRANSFERS 22,561 27,354 27,354 OTHER INTERFUND TRANSFERS 1,404,000 1,400,000 1,400,000 TOTAL REVENUES 1,841,561 1,827,354 2,048,021 Expenditures REGULAR SALARIES 1,028,270 836,156 836,156 OTHER SALARIES 96,835 52,000 52,000 FICA TAXES 64,200 68,850 68,850 LIFE AND HEALTH INSURANCE 48,150 65,200 65,200 RETIREMENT CONTRIBUTION 53,500 52,237 52,237 FRINGE BENEFITS 37,450 32,400 32,400 OTHER CONTRACTUAL SERVICE 14,001 13,730 13,730 TRAVEL AND PER DIEM 6,420 10,000 10,000 COMMUNICATIONS 10,700 8,908 8.908 UTILITY SERVICE 30,074 18,208 18,208 INSURANCE 16,050 23,800 23,800 OTHER CURRENT CHARGE 17,013 10,000 10,000 SUPPLIES 7,490 12,000 12,000 OPERATING SUPPLIES 10,700 8,000 8,000 SUBSCRIPTION MEMBERSHIP 1,284 1,000 1,000 MACHINERY AND EQUIPMENT 1,605 5,000 5,000 ADVERTISING 64,200 40,000 40.000 RENTAL AND LEASES 219,765 200,000 200,000 POSTAGE 6,070 6,500 6,500 REPAIR/MAINTENANCE - OUTSIDE 2,140 2,000 2,000 INTERFUND TRANSFER 40,660 35,000 35,000 BUDGET RESERVE 64,984 326,365 547,032 TOTAL EXPENDITURES 1,841,561 1,827,354 2,048,021 REVENUE LESS EXPENDITURES - - -