HomeMy WebLinkAboutPre-LegislationRESOLUTION NO. 015/2024
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE DOWNTOWN
DEVELOPMENT AUTHORITY OF THE CITY OF MIAMI, FLORIDA ("MIAMI
DDA") APPROVING THE PRELIMINARY ANNUAL BUDGET OF THE MIAMI
DDA FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2024 AND ENDING
SEPTEMBER 30, 2025; REQUESTING THAT THE MIAMI CITY COMMISSION
ESTABLISH THE MILLAGE TO SUPPORT THE FINANCIAL REQUIREMENTS
OF THE BUDGET; AUTHORIZING THE CEO/EXECUTIVE DIRECTOR OF THE
MIAMI DDA TO EXPEND FUNDS FOR THE BUDGET; DIRECTING THE
CEO/EXECUTIVE DIRECTOR TO FILE A DETAILED STATEMENT OF THE
PROPOSED EXPENDITURES AND ESTIMATED REVENUES FOR THE
FISCAL YEAR BEGINNING OCTOBER 1, 2024 AND ENDING SEPTEMBER 30,
2025 WITH THE CITY CLERK OF THE CITY OF MIAMI ("CLERK") AFTER
ADOPTION AND ESTABLISHMENT OF THE MILLAGE BY THE MIAMI CITY
COMMISSION; AND FURTHER PROVIDING THAT A COPY OF THIS
RESOLUTION BE FILED WITH THE CLERK.
WHEREAS, the Downtown Development Authority of the City of Miami, Florida ("Miami
DDA") has prepared a preliminary budget for the Fiscal Year beginning October 1, 2024 and ending
September 30, 2025 ("Fiscal Year"); and
WHEREAS, the Board of Directors of the Miami DDA has reviewed said budget on the
Estimated Tax Roll provided by Miami -Dade County; and
WHEREAS, the Board of Directors of the Miami DDA finds that the proposed budget is
necessary in order to further the objectives of the Miami DDA, as authorized by the Code of the
City of Miami, Florida, as amended;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
MIAMI 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 preliminary budget of the Miami DDA, as submitted by the
CEO/Executive Director is made part of this Resolution and is hereby approved and shall be known
as the "Annual Budget of the Miami Downtown Development Authority: Fiscal Year October 1,
2024 through September 30, 2025".
Section 3. The following appropriations for the Fiscal Year beginning October 1,
2024 and ending September 30, 2025 are hereby made for the purpose of financing the operations
and other legal and proper purposes of the Miami DDA:
GENERAL FUND
Revenue Sources
Ad Valorem Tax Levy 0.4505 Miliege per$1000 $ 13,550,000
Reimbursements 3,019,490
Total Revenues 16,569,490
Reserve and Carryover 5,169,210
Total Revenues and Balances 21,738,700
Operating Expenditures
General Expenses 3,854,710
Leadership, Advocacy and Operations 2,116,000
Quality of Life & Enhanced Services 7,355,490
Arts, Culture & Entertainment 1,225,000
Urbanism 2,800,000
Business Development 3,710,000
Total Operating Expenditures 21,061,200
Fund Balances and Reserves 677.500
Total Expenditures, Reserves, and Balances 21,738,700
Section 4. The CEO/Executive Director is directed to submit a copy of this
preliminary budget as well as this Resolution to the Miami City Commission and to request the
Miami City Commission to adopt said preliminary budget and establish the millage, authorized by
law, to support the financial requirements of this budget.
Section 5. The CEO/Executive Director is authorized to expend funds, including new
salary rates, as provided in said budget, after adoption and establishment of the millage by the
Miami City Commission, beginning October 1, 2024.
Section 6. The CEO/Executive Director is directed to prepare and file with the City
Clerk of the City of Miami, Florida ("Clerk") a detailed statement of the proposed expenditures
and estimated revenues for the Fiscal Year 2024-2025, which shall be entitled "Annual Budget of
the Miami Downtown Development Authority: Fiscal Year October 1, 2024 through September
30, 2025".
Section 7. A copy of this Resolution and the attachment(s) shall be filed with the
Clerk after adoption of the millage by the Miami City Commission.
Section 8. This Resolution shall become effective immediately upon its adoption.
PASSED AND ADOPTED this 12th day of July, 2024.
ATTEST:
Commissioner
anolo Reyes, Chairman
Chris pi, CEO/Executive Director
Executive Secretary to the Board of the Directors
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RESOLUTION NO. 014/2024
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, 2024 AND ENDING SEPTEMBER 30, 2025 AT
0.4505MILLS.
WHEREAS, Section 200.065(2)(a)1, Florida Statutes (2017) ("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 2024-2025 Budget for the Downtown Development Authority of the City of
Miami ("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;
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 Miami DDA Board of Directors hereby authorizes the CEO/Executive
Director to establish a proposed millage rate for the Downtown Development District of the City of Miami,
Florida ("District") for the Fiscal Year beginning October 1, 2024 and ending September 30, 2025 at 0.4505
mills.
Section 3. The CEO/Executive Director of the Miami DDA is instructed to submit said
proposed millage rate for the Downtown Development District of the City of Miami, Florida to the Miami -
Dade County Property Appraiser and Tax Collector.
Section 4. This Resolution shall become effective immediately upon its adoption.
PASSED AND ADOPTED this 12th day of July, 2024.
ATTEST:
Elvira Manon
Executive Secretary to the Board of Directors
Manolo Reyes
istina Crespi, CEO/Executive Director
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