HomeMy WebLinkAboutLegislation - DDARESOLUTION, NO. 29/2012.
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE. MIAMI.
DOWNTOWN DEVELOPMENT AUTHORITY ("DDA") OF THE CITY OF
MIAMI; FLORIDA. APPROVING THE PRELIMINARY ANNUAL'BUDGET OF
THE MIAMI DOWNTOWN DEVELOPMENT AUT IORITYFORTHE FISCAL,
YEAR BEGINNING OCTOBER 1, 201'2 AND ENDING SEPTEMBER,30,
,REQUESTING THAT THE NIIAMI CITY COMMISSION ESTABLISH' .THE:
MILLAGE TO ' SUPPORT THE FINANCIAL REQUIREMENTS: OF THE.
BUDGET; AUTHORIZING THE EXECUTWE DIRECTOR OF THE MIAMI'
DOWNTOWN DEVELOPMENT AUTHORITY TO .EXPEND FUNDS FOR THE.
BUDGET; DIRECTING'THE EXECUTIVE DIRECTOR TO FILE 'A DETAILED
STATEMENT OF THE 'PROPOSED EXPENDITURES AND ESTIMATED
:REVENUES FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2012.AND
ENDING SEPTEMBER 30, 20.13 WITH THE CITY CLERK.OF TH'E, CITY 'OF
'WW1 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 CITY CLERIC OF'THE
CITY OF MIAMI.
WHEREAS, the:Miaini Downtown Development Authority (DDA):of,the City of Miami„
Florida'las prepared a ;preliminary budget for the Fiscal Year` beginning October 1,, 2012 and
ending.Septernber`-30; 2013; and
WHEREAS, :the Board of:Directors of'the DDA .has' reviewed said. budget, :said budget`
being;: based: on the: Estimated Tax Roll provided by Miami -Dade County;:and
`WHEREAS, the Board of Directors of the DDA. finds that the proposed :biidget,:is:
necessary in order to further the objectives of the Downtown Development Authority, as
authorized by City Ordinance:
NOW THEREFORE, be it resolved by'theBeard of Directors of the Miami Downtown
;Development Authontyof the City,of Mianii, 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 DDA,. as. sub pitted by the .Executive
•Director;; is ;made part; of 'this,'Resolution and is hereby approved and .shall be ;known •as the
`.Annual Budget 'ofAhe, Miami Downtown Development Authority: Fiscal Year October 1, '2012
through: September 30,12013".
Section .3". The ,following appropriations' for the Fiscal Year beginning October :1`,
:2012 and endingSeptember 30 2013:are hereby made for the purpose of financing the operation
and.. other legal and,proper'purposes of the Mian i Downtown Development Authority of, the -City
of Miami, Florida, to wit;
Reso to Approve Budget FY 12-13`
GENERAL FUND DRI TOTALALL FUNDS
Revenue Sources,
Ad Valorem Tax Levy 5,584,506 5,584,506
Other Revenue. 50,000 50,000
Carryover Funds from Prior Years 2,917,090 2,917,090
Downtown Development Regional Impact (DRI) Funds 300,000 300,000
Total Sources 8,551,596 300,000 8,851,596
Use of Funds
Agency Operating Expenditures 1,018,150 1,018,150
CIP, Urban: Design, Transportation & Services 2,677,817 2,677,817
Signage & Wayfinding Program 1,500,000 1,500,000
Marketing&.Economic Development - •2,248,629 2,248,629
Strategic Partnerships &Sponsorships 857,000 857,000 •
Subtotal 8,301,596 - 8,301,596
Property Valuation Contingency
Downtown.Development Regional Impact (DRI) Expenditures
250,000 250,000
300,000 300,000
Total Uses 8,551,596 300,000 8,851,596.,
Section 4. Tise Commission of the City of Miami is requested to adopt said
preliminary budget and establish the millage, authorized by law, to support the financial
requirements of this budget.
Section 5. The Executive Director of the Miami Downtown Development Authority
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, upon the first day of
the -2012-2013 Fiscal Year, October 1, 2012.
Section 6. The Executive Director of the DDA is directed to prepare and file with
the -City Clerk of the City of Miami, Florida detailed statement of the proposed expenditures and,
estimated revenues for the Fiscal Year 2012-201'3, which shall be entitled "Annual Budget of the
Miami Downtown Development Authority: Fiscal Year October 1, 201,2 through September 30,
201'3
Section 7. A copy of this Resolution and the attachment shall be filed with the City
Clerk, of the City of Miami, Florida after adoption of the millage by the City of Miami
Commission.
PASSED AND ADOPTED this 20"' day of July.
Commissioner Marc D. Sara
/
lyce M. obertson, Executive Director
ATTEST:
Secretary to the Board of the Directors
Resoto.Approve -Budget FY 12-13