HomeMy WebLinkAboutAgenda Item Summary FormAGENDA ITEM SUMMARY FORM
File ID: #16452
Date: 08/05/2024
Commission Meeting Date: 09/26/2024
Requesting Department: Downtown
Development Authority
Sponsored By:
District Impacted:
Type: Resolution
Subject: Approve Annual Budget FY '25 - Downtown Development Authority
Purpose of Item:
The Downtown Development Authority of the City of Miami ("Miami DDA") requests that
the City Commission adopt the attached Appropriations Resolution for the fiscal year
beginning on October 1, 2024 and ending September 30, 2025.
Background of Item:
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 Miami DDA for the
purpose of financing the operations of the Miami DDA.
The Miami DDA budget for FY2023-2024 was based on ad valorem tax revenues of
$12,970,000. The final Miami DDA budget for FY2024-2025 is based on the estimated
ad valorem tax revenues of $13,550,000. This represents an increase in ad valorem tax
revenues of $580,000.
Attached for City Commission approval is an Appropriations Resolution for the Miami
DDA for fiscal year beginning October 1, 2024 and ending September 30, 2025.
Budget Impact Analysis
Item is Related to Revenue
Item has NOT an Expenditure
Item is NOT funded by Bonds
Total Fiscal Impact:
N/A
Downtown Development Authority
Office of Management and Budget
Office of Management and Budget
City Manager's Office
City Manager's Office
City Manager's Office
Legislative Division
Office of the City Attorney
Reviewed B
Christina Crespi
Pedro Lacret
Marie Gouin
Larry M. Spring
Natasha Colebrook -Williams
Arthur Noriega V
Valentin J Alvarez
Xavier Alban
Department Head Review
Budget Analyst Review
Budget Review
Assistance City Manager
Deputy City Manager Review
City Manager Review
Legislative Division Review
ACA Review
Completed
Completed
Completed
Completed
Completed
Completed
Completed
Completed
09/09/2024 8:31 AM
09/09/2024 10:31 AM
09/09/2024 12:26 PM
09/09/2024 4:48 PM
09/10/2024 11:34 AM
09/11/2024 1:54 PM
09/13/2024 12:08 PM
09/17/2024 9:23 AM
Office of the City Attorney
City Commission
Office of the Mayor
Office of the City Clerk
Legislative Division
Office of the City Attorney
Office of the City Attorney
Office of the City Clerk
George K. Wysong III
Maricarmen Lopez
Mayor's Office
City Clerk's Office
Valentin J Alvarez
Xavier Alban
George K. Wysong III
City Clerk's Office
Approved Form and Correctness Completed
Meeting Completed
Signed by the Mayor Completed
Signed and Attested by the City Clerk Completed
Legislative Division Review Completed
ACA Review Completed
Approved Form and Correctness with Modification(s)
Rendered Completed
09/17/2024 11:43 AM
09/26/2024 5:05 PM
09/27/2024 11:04 AM
09/27/2024 11:06 AM
09/27/2024 3:13 PM
09/27/2024 3:20 PM
Completed
09/27/2024 4:03 PM
City of Miami
Legislation
Resolution
Enactment Number: R-24-0386
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 16452 Final Action Date:9/26/2024
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
APPROVING AND ADOPTING THE FINAL ANNUAL BUDGET OF THE DOWNTOWN
DEVELOPMENT AUTHORITY OF THE CITY OF MIAMI, FLORIDA ("MIAMI DDA"),
ATTACHED AND INCORPORATED IN AMENDED COMPOSITE EXHIBIT "A," IN THE
TOTAL AMOUNT OF $20,499,700.00, AND MAKING APPROPRIATIONS FROM THE
DOWNTOWN DEVELOPMENT DISTRICT AD VALOREM TAX LEVY AND OTHER
MISCELLANEOUS INCOME FOR THE MIAMI DDA, FOR THE FISCAL YEAR
BEGINNING OCTOBER 1, 2024, AND ENDING SEPTEMBER 30, 2025;
AUTHORIZING THE MIAMI DDA TO MAKE TRANSFERS BETWEEN ACCOUNTS
FOR NECESSARY AND PROPER PURPOSES; AUTHORIZING THE MIAMI DDA TO
INVITE AND ADVERTISE REQUIRED BIDS; PROVIDING THAT THIS RESOLUTION
BE DEEMED SUPPLEMENTAL AND IN ADDITION TO THE RESOLUTION MAKING
APPROPRIATIONS FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2024, AND
ENDING SEPTEMBER 30, 2025, FOR THE OPERATIONS OF THE CITY OF MIAMI.
WHEREAS, Section 14-59 of the Code of the City of Miami, Florida, as amended ("City
Code"), provides that the Downtown Development Authority of the City of Miami, Florida ("Miami
DDA") shall submit its final annual budget for its operations to the City Commission for approval;
and
WHEREAS, the Board of Directors of the Miami DDA approved and adopted the Miami
DDA's proposed annual budget for Fiscal Year 2024-2025 on July 12, 2024, pursuant to Miami
DDA Resolution 015/2024, in the total amount of $21,738,700.00 as set forth in Amended
Composite Exhibit "A," attached and incorporated; and
WHEREAS, on September 7, 2024, pursuant to Resolution No. R-24-0314, the Miami
City Commission ("City Commission") approved the Miami DDA's proposed annual budget for
Fiscal Year 2024-2025 in the total amount of $21,738,700.00 to become the Miami DDA's
tentative budget; and
WHEREAS, on September 26, 2024, the Miami DDA proposed an amended reduced
annual budget for the Fiscal Year ("FY") commencing October 1, 2024, and ending September
30, 2025, in the total amount of $20,499,700.00; and
WHEREAS, the Miami DDA requests the City Commission's approval of the tentative
budget to become the final annual budget for the Fiscal Year ("FY") commencing October 1,
2024, and ending September 30, 2025, in the total amount of $20,499,700.00, as set forth in
Amended Composite Exhibit "A," attached and incorporated;
NOW, THEREFORE, BE IT RESOLVED, BY THE COMMISSION 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 as if fully set forth in this Section.
Section 2. The Miami DDA tentative annual budget, attached and incorporated in
Amended Composite Exhibit "A," in the total amount of $20,499,700.00, for the operations of the
Miami DDA to become the final annual budget, for the Fiscal Year commencing October 1,
2024, and ending September 30, 2025, is approved and adopted, and appropriations are made
from the Downtown Development District ad valorem tax levy and other miscellaneous income
for the Miami DDA.
Section 3. The abovementioned operating expenditures are merely anticipatory and
thus, the Board of Directors of the Miami DDA is hereby authorized to withhold any of these
appropriated funds from encumbrance or expenditure should such action appear advantageous
to the economic and efficient operation of the Miami DDA.
Section 4. The Miami DDA is authorized' to make transfers between the detailed
accounts comprising any of the amounts appropriated in Section 2 above so that any available
and required balance in such accounts may be used for other necessary and proper purposes.
Section 5. Subject to Chapter 18 of the City Code, the Miami DDA is further authorized'
to solicit bids for the purposes of procuring any materials, supplies, equipment, and services
embraced in the amounts appropriated in Section 2 above for which formal bidding is required
with such bids being returnable as required by law.
Section 6. This Resolution shall be deemed supplemental and in addition to the
Resolution making appropriations for the operations of the City of Miami for the Fiscal Year
commencing October 1, 2024, and ending September 30, 2025.
Section 7. This Resolution shall become effective immediately upon its adoption and
signature of the Mayor.2
APPROVED AS TO FORM AND CORRECTNESS:
rge
ng II , C y ttor -y 9/17/2024
1 The herein authorization is further subject to compliance with all legal requirements that may be
imposed, including but not limited, to those prescribed by applicable City Charter and City Code
provisions.
2 If the Mayor does not sign this Resolution, it shall become effective at the end of ten (10) calendar days
from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become effective
immediately upon override of the veto by the City Commission.