HomeMy WebLinkAboutMemo - DDAg MIAMI .
DOWNTOWN DEVELOPMENT AUTHORITY
Memorandum
To: The J)lionorabl yo a d Me hers of the City Commission
-
From:-ailyce ljti. Robe -tson, Executive Director
Date: August 11, 2011
Subject: Miami DDA
Appropriations Resolution for FY 2011-2012
Re: For September 15, 2011 City Commission Meeting — 1" Budget Hearing
Recommendation
It is respectfully requested that the City Commission adopt the attached Appropriations Resolution
for the Miami Downtown Development Authority for the Fiscal Year beginning October 1, 2011 and
ending September 30, 2012.
Background
Chapter 14 of the City of Miami Code authorizes the City Commission to levy an additional ad
valorem tax on all real and personal property within the Downtown Development District for the
purpose of financing the operations of the Miami Downtown Development Authority ("DDA").
The DDA budget for the FY 2011-2012 is based on a tax value of $10,996,404,695. The proposed
DDA budget for FY 2011-2012 is based on estimated ad -valorem revenues of $5,256,281.
Attached for City Commission approval is an Appropriations Resolution for the Miami Downtown
Development Authority for the Fiscal Year beginning October 1, 2011 and ending September 30,
2012.
AMR/msr
Attachments
cc: Julie O. Bru, City Attorney (via email)
Veronica Xiques, Assistant City Attorney (via email)
Elvi Gallastegui, Agenda Office (via email)
Miami Downtown Development Authority
200 S. Biscayne Boulevard, Suite 2929
Wachovia Financial Center
Miami, Florida 33131
Tel: 305.579.6675
Fax: 305.371.2423
Web: www.miamidda.com