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Home My WebLink AboutCRA-R-09-0041 LegislationCity of Miami Legislation GRA Resolution City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 09-00820 Final Action Date: A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST OVERTOWN/PARK WEST 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, 2009 AND ENDING SEPTEMBER 30, 2010; DIRECTING THE EXECUTIVE DIRECTOR TO TRANSMIT A COPY OF EACH BUDGET TO THE CITY OF MIAMI AND MIAMI-DADE COUNTY. WHEREAS, the Southeast Overtown/Park West Community Redevelopment Agency ("CRA") is responsible for carrying out redevelopment activities within the Southeast Overtown/Park West Redevelopment Area; and WHEREAS, as a prerequisite to carrying out Fiscal Year 2010 redevelopment activities, it is required that the CRA Board of Commissioners approve the CRA's proposed Fiscal Year 2010 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 SOUTHEAST OVERTOWN/PARK WEST 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, 2009 and ending September 30, 2010 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. City of Miami Page 1 of 2 Printed On: 7/17/2009 File Number: 09-00820 APPROVED AS TO FORM AND CORRECTNESS: JULIE O. BRU GENERAL COUNSEL NoR6) City of Miami Page 2 of 2 Printed On: 7/17/2009 Community Redevelopment Agency South East Overtown Park West Tax Increment Fund Fiscal Year 2010 • • SEOPW SPECIAL REVENUE FUND BUDGET FY 2008 Approved Amended Budget - SEOPW Special Revenue FY 2009 Approved Amended Budget - SEOPW Special Revenue FY 2010 Proposed Budget - SEOPW Special Revenue Revenues ADVALOREM TAXES - CITY OF MIAMI 3,568,307 4,309,075 4,309,075 ADVALOREM TAXES - MIAMI DADE COUNT 2,228,137 2,705,822 2,705,822 MISC - INTEREST 10,000 MISC - NET INCREASE 1N FAIR VALUE 1,500 INTERFUND TRANSFER - (Reserve for payment of Grand Central Loan - $1.75 million 1,400,000 - due in 2008) CARRYOVER FUND BALANCE 11,804,141 12,571,490 17,513,840 OTHER NON -OPERATING 530,408 TOTAL REVENUES 18,142,493 20,986,387 24,528,737 Expenditures ACCOUNTING AND AUDIT 40,000 33,000 35,000 PROFESSIONAL SERVICES - LEGAL 145,298 200,000 296,069 PROFESSIONAL SERVICES - OTHER 485,203 1,506,800 1,324,050 OTHER CONTRACTUAL SERVICES 547,912 110,429 234,907 CONSTRUCTION IN PROGRESS 12,180,867 12,466,176 16,883,837 OTHER GRANTS AND AIDS 3,518,213 5,186,580 4,669,934 INTERFUND TRANSFER (Debt Service) 410,000 411,239 50,000 INTERFUND TRANSFER (Administration) 700,000 756,350 683,501 OTHER CURRENT CHARGES AND OBLIG 215,813 251,439 BUDGET RESERVE 115,000 100,000 100,000 TOTAL EXPENDITURES 18,142,493 20,986,387 24,528,737 REVENUE LESS EXPENDITURES - - - Community Redevelopment Agency - General Operating (SEOPVV, OMNI and Midtown) Fiscal Year 2010 • • • SEOPW, OMNI, MIDTOWN AND GENERAL OPERATING Revenues CARRYOVER FUND BALANCE OTHER INTERFUND TRANSFERS OTHER INTERFUND TRANSFERS TOTAL REVENUES Expenditures REGULAR SALARIES OTHER SALARIES FICA TAXES LIFE AND HEALTH INSURANCE RETIREMENT CONTRIBUTION FRINGE BENEFITS OTHER CONTRACTUAL SERVICE TRAVEL AND PER DIEM COMMUNICATIONS UTILITY SERVICE INSURANCE OTHER CURRENT CHARGE SUPPLIES OPERATING SUPPLIES SUBSCRIPTION MEMBERSHIP MACHINERY AND EQUIPMENT ADVERTISING RENTAL AND LEASES POSTAGE REPAIR/MAINTENANCE - OUTSIDE INTERFUND TRANSFER BUDGET RESERVE TOTAL EXPENDITURES REVENUE LESS EXPENDITURES FY 2008 Approved Amended Budget General Operating Fund 620,667 27,354 1,400,000 2,048,021 836,156 52,000 68,850 65,200 52,237 32,400 13,730 10,000 8,908 18,208 23,800 10,000 12,000 8,000 1,000 5,000 40,000 200,000 6,500 2,000 35,000 547,032 2,048,021 FY 2009 Approved Amended Budget - General Operating Fund 443,201 34,309 1,512, 700 1,990,210 884,210 53,560 66,422 48,000 50,000 7,200 13,730 8,000 8,908 18,208 23,800 10,000 12,000 8,000 1,000 5,000 58,387 207,661 20,000 1,981 50,000 434,143 1,990,210 FY 2010 Proposed Budget - General Operating Fund 400,000 34,213 1,367,002 1,801,215 884,210 53,560 66,422 48,000 50,000 7,200 13,730 8,000 8,908 18,208 23,800 10,000 12,000 8,000 1,000 5,000 58,387 207,661 20,000 1,981 50,000 245,148 1,801,215