HomeMy WebLinkAboutLegislation-DDA FR/SRRESOLUTION,NO. 30 /2011
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
DOWNTOWN DEVELOPMENT AUTHORITY OF THE CITY OF
MIAMI, FLORIDA, AUTHORIZING THE EXECUTIVE DIRECTOR
TO ESTABLISH A PROPOSED MILLAGE RATE FOR THE
DOWNTOWN DEVELOPMENT DISTRICT OF THE CITY OF
MIAMI, FLORIDA FOR THE FISCAL YEAR BEGINNING
OCTOBER 1, 2011 AND ENDING SEPTEMBER 30, 2012 AT THE
ROLLED -BACK RATE OF .4780 MILLS.
WHEREAS, Section 200.065(2)(a)1, Florida Statutes (2010) ("Statute"), requires each taxing authority
to establish a proposed millage rate; and
WHEREAS, the Statute stipulates that the proposed millage rate be submitted to the Miami -Dade
County Property Appraiser and the Tax Collector; and
WHEREAS, the proposed millage rate reflects the levy necessary to realize property tax revenues
anticipated in the Fiscal Year 2011 Budget for the Downtown Development Authority of the City of Miami
("DDA"); and
WHEREAS, the Statute requires that the proposed tax rate be included on tax notices; and
WHEREAS, the proposed millage rate submitted to the Property Appraiser is not binding but necessary
for the purpose of preparation of tax notices; and
WHEREAS, in consideration of extraordinary and unique economic conditions, the Miami DDA has
chosen to not pursue the maximum .5 millage rate it has historically operated under, but will instead operate
under the rolled -back rate of .4780 for the upcoming fiscal year.
NOW THEREFORE, be it resolved.by the Board of Directors of the Downtown Development Authority
of the City of Miami, Florida.
Section 1. The recitals are true and correct and are adopted by reference and incorporated as if fully set
forth in this Section.
Section 2. The DDA Board of Directors hereby authorizes the Executive Director to establish a
proposed millage rate for the Downtown Development District of the City of Miami, Florida for the Fiscal Year
beginning October 1, 2011 and ending September 30, 2012 at the rolled -back rate of .4780 mills.
Section 3. This Resolution shall substitute and render null and void any previously adopted Resolutions
of the DDA establishing a proposed millage rate for the Fiscal Year beginning October 1, 2011 and ending
September 30, 2012.
Section 4. The Executive Director of the DDA is instructed to submit said proposed rate for the
Downtown Development District of the City of Miami, Florida to the Miami -Dade County Property Appraiser
and Tax Collector.
PASSED AND ADOPTED this 22nd day of July, 2011
IATTEST:
lyce M. ' obertson, Executive Director
Madelyn Raybourn t
Secretary to the Board of Directors