HomeMy WebLinkAboutLegislation - DDARESOLUTION NO. 20/2013
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 AUTHORITY FOR THE FISCAL
YEAR BEGINNING OCTOBER 1, 2013 AND ENDING SEPTEMBER 30, 2013,
REQUESTING THAT THE MIAMI CITY COMMISSION ESTABLISH THE
MILLAGE TO SUPPORT THE FINANCIAL REQUIREMENTS OF THE
BUDGET; AUTHORIZING THE EXECUTIVE 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, 2013 AND
ENDING SEPTEMBER 30, 2014 WITH THE CITY CLERK OF THE CITY OF
MIAMI 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 CLERK OF THE
CITY OF MIAMI.
WHEREAS, the Miami Downtown Development Authority (DDA) of the City of Miami,
Florida has prepared a preliminary budget for the Fiscal Year beginning October 1, 2013 and
ending September 30, 2014; 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 budget is
necessary in order to further the objectives of the Downtown Development Authority, as
authorized by City Ordinance.
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 DDA, as submitted by the 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, 2013
through September 30, 2014".
Section 3. The following appropriations for the Fiscal Year beginning October 1,
2013 and ending September 30, 2014 are hereby made for the purpose of financing the operation
and other legal and proper purposes of the Miami Downtown Development Authority of the City
of Miami, Florida, to wit:
Reso to Approve Budget FY 13-14
Revenue Sources
Ad Valorem Tax Levy
Other Revenue
Carryover Funds from Prior Years
Downtown Development Regional Impact (DRI) Funds
GENERAL FUND
5,964,044
1,000,000
1,871,189
Total Sources 8,835,233
DRI
315,000
TOTAL ALL FUNDS
5,964,044
1,000,000
1,871,189
315,000
315,000 9,150,233
Use of Funds
Agency Operating Expenditures 1,086,588 1,086,588
CIP, Urban Design, Transportation & Services 2,761,920 2,761,920
Signage & Wayfinding Program 1,500,000 1,500,000
Economic Development, Marketing & PR 2,291,325 2,291,325
Strategic Partnerships & Sponsorships 945,400 945,400
Subtotal 8,585,233 - 8,585,233
Property Valuation Contingency
Downtown Development Regional Impact (DRI) Expenditures
250,000 250,000
315,000 315,000
Total Uses 8,835,233
315,000 9,150,233
Section 4. The 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 2013-2014 Fiscal Year, October 1, 2013.
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 2013-2014, which shall be entitled "Annual Budget of the
Miami Downtown Development Authority: Fiscal Year October 1, 2013 through September 30,
2014".
Section 7. A copy of this Resolution and the attachment shall .e_filed with the City
Clerk of the City of Miami, Florida after adoption of the milla,- by the iami
Commission.
PASSED AND ADOPTED this 19th day of July, 2
Alyce Ivf . Robertson, Executive Director
AT EST:
Ji�`�
Madelyne . Raybourn
Secretary to the Board of the Directors
Reso to Approve Budget FY 13-14