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M IAM I DDA
DOWNTOWN DEVELOPMENT AUTHORITY
Memorandum
To: The onorable layo ► ambers of the City Commission
From: yce s . Robertson
Executi =e Director
Date: August 11, 2011
Subject: Miami DDA FY 2011-2012
Establishing Territorial Limits and Setting Millage for FY 2011-2012
Re: For September 15, 2011.City Commission Meeting — ls` Budget Hearing
Recommendation
It is respectfully requested that the City Commission adopt the attached Ordinance establishing the
territorial limits of the Downtown Development Authority independent taxing district and setting the
millage thereof.
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, not to
exceed five -tenths (.5) mills on the dollar valuation of such property for financing the operations of
the Miami Downtown Development Authority ("DDA"). The DDA millage has been set at .5 mills
since the inception of the DDA in 1965.
Attached .is an Ordinance for City Commission approval, which establishes the Downtown
Development District boundaries, fixes the millage at the rolled -back rate of .478 mills and levies
taxes for the Fiscal Year beginning October 1, 2011 and ending September 30, 2012.
The proposed millage rate is the rolled -back rate.
AMR1msr
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