HomeMy WebLinkAboutSubmittal-DDA Proposed Budget PresentationMIAMIDDA
DOWNTOWN DEVELOPMENT AUTHORITY
FY 13-14 Proposed Operating Budget
September 2013
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SUBMITTED INTO THE
PUBLI RECORD FOR
ITEMON3 .
4' OurMission:
UBMTTED INTO THE
rUBL..: RECORD FOR
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The mission of the Miami Downtown Development Authority
is to grow, strengthen and promote the economic health
and vitality of Downtown Miami.
As an autonomous agency of the City,
the Miami ODA advocates, facilitates, plans and executes
business development, planning and capital improvements,
and marketing and communication strategies.
We commit to fulfill our mission
collaboratively, ethically and professionally,
consistent with the Authority's public purpose.
MIAMIDDA
DOWNTOWN DEVELOPMENT AUTHORtIY
Efficient, Effective, Accountable
MtiAN,1D0A
,mmunicab o �1
to Ole
Board of Di -
mityee
sopNeaaF�+=i.^s��ry
FINANCES. DDA received a clean audit,
with no management recommendations
for the 2nd year in a row
RECOGNITION. DDA named 2012
Public Sector Organization of the Year
by the American Society for Public
Administration (ASPA)
Aerorha. Society faty ublfe AdmlMska:ian
THE
OUISTANDI7 PUBLIC SECTOR
ORGANIZATION AWARD
Mile,
M OAMrWd bdM
Dci Morn diribui ring AUUTeo-4y
+V [mKn.-/ in ►ale Soria.
+..ro u, a.n
SUBMJ
flU6LECORD FOR
{;EM ONoq/iz/i
Real Estate Growth
TAXABLE VALUE. DDA District just surpassed
Coral Gables in total property valuation
(behind only UMSA, Miami Beach and City of
Miami as a whole); DDA district responsible
for 57% of City's increased valuation;
represents 38% of City's tax revenues
e City of Miami
■ DDA
SUBMITTEINTOT'
PUBL$CORDEOR 2°'
GEM i 3 ON/7/.
2011 2012 2013
RECORDED SALES AND OCCUPANCY
\I'.14 Cf)VI)1)1II\II'1[S (1Ifl 11I1R Ix)1ti\'F )WN 4ltt.1
2009
focus
Closed Sales Occupied Units
799E
84%
REAL ESTATE. DDA successfully promoted
DWNTWN as a safe place for real estate
investment during turbulent economic
times, resulting in a current residential
occupancy of 97%, and 100% growth in
population from 40,000 residents in 2000
to over 80,000 residents today
Open for Business
Submitted into the public
recor onnection��� vv.tn.
em a °9(/2
Prlsci A. Thompson
City Ierle.
BUSINESS DEVELOPMENT. DDA is spearheading the
evolution of DWNTWN into an international hub for
technology, entrepreneurship and finance through its
investment and support of the Venture Hive, eMerge
Americas and other technology initiatives; and efforts
to create a "Hedge Fund Row" in DWNWTN
RETAIL. DWNTWN has quickly evolved
into a dining destination, with over 300
new shops and restaurants in the past 5
years, and many more -- Brickell
CityCentre -- on the way
Destination DWNTWN
VISITORS. DDA's marketing and
promotional activities support a host of
new 4-5 star hotels, popular attractions,
and high profile events that draw millions
of visitors to DWNTWN every year
Submitted
recoc P
ttn 2
Into the public
ection i
tona/IizIl.
Priscill
A. Thompson
City Jerk
ARTS & CULTURE. DDA is spearheading the
evolution of DWNTWN into a major arts &
culture destination through the convening of an
Arts & Culture Advisory Group which has led to
the quarterly publication of a comprehensive
Arts & Culture Guide and the creation of an
annual 3-day DWNTWN ArtDays event and
other arts related programming
Advocacy & Community Support
ADVOCACY. DDA initiated successful
advocacy efforts to protect mental health
funding and international banking incentives
under fire in the last state legislative session;
DDA has conducted annual voter outreach
campaigns, resulting in a 33% increase in
voter turnout from '08 —'12.
MIAMI HEAT. DDA provided key logistical,
security, marketing and cleanup support
for the two parades celebrating DWNTWN's
back-to-back champion Miami Heat
Submitted Into the pub1iC
rocoG ±nn nction Wit
1
Pnscil .R A. Thomp4Or
Citytied
Partners in Municipal Services
Traditional Municipal Services 22% = $1,920,000
DDA Charter Functions
78% = $6,665,233
100% = $8,585,233 (total DDA Budget)
Nearly a quarter of DDA Budget
78% goes to pay for services traditionally
provided by municipalities
Submitted Into the public
Greco y ' ection Wi
"MP"
m ___ _�on �Y/2 / ..
PriscA. Thomp�or
City"'Clett
Partners in Municipal Services
Traditional Municipal Services
DDA Charter Functions
22%
11
Submitted Into the public
record in q9rTection yip
Item on 1121
Priscilbl A. Thompson
City Cleric
Traditional Municipal Services provided by
DDA in FY 13-14*
Capital Improvements
Legal Services (Pottinger)
Holiday Banners
White Glove
DET Team
Ambassadors
NEAT Team
Property Incentives
Miami Heat Parade
TOTAL:
27k
75k
30k
200k
405k
425k
145k
345k
25k
$1.92 million
*Excluding event sponsorships, staff
resources, and expenses
2013 BUDGET PREPARATION TIMELINE
March April
•March 9: DDA •Committee
Board Retreat Input
ay
•Committee
Input
•Established
draft
expenses
tale
•June 1:
Preliminary
Roll from
Property
Appraiser
•June 21: DDA
Board
approved
Line Item
Adjustments
for current
year budget
u
•July 1: Final
Roll from
Property
Appraiser
•July 19: DDA
Board
approved FY
13-14 budget
*July 25:
Maximum
millage rate
established at
City
Commission
meeting
Au ust September
•TRIM notices
mailed by
Property
Appraiser
• Sept. 12:
1n City
Commission
budget
hearing
• Sept. 26: Final
adoption of
millage rate
and budget at
2nd hearing
Submitted Into the public;
feco nection� wittv
tem i'• � on j/1l2 .
Pdisci A. Thomp6on
City -Cleric
MIAMI-DADE COUNTY
PROPERTY APPRAISER
JULY 1, 2013 - CERTIFICATION OF TAXABLE VALUE
TAXING AUTORITY
D5 M;A.S"
C1i N8A8!I OCA
C2 MIAMI BEACH
6201 Ai9 NORMA/0Y 13HORE3
R3 CORAL G
Di I•IALEA1.1
05 M.'4 • 877RING6
R6 NORTH MIAMI
MIA}l. SEACK
RB OP,4.=:KA
09'3OVTH °.Vt
ID 1.C-E2,TEAD
1114A 13,3RE13
52 BAL HPF.80UR
'3 BAT HARBOR 131.4.11132
74 3L' a F3.OE
'S'Pi ER17%14441
'16 FLORIDA CITY
7 19•3CA*'. E PARK
-8 EL PORTAL
19 GOLDEN EEAL'H
20 G,r. ECREOT
-.DIAN CREEK
22. M3aLEY
23 N. 8_AGE
24 KEY BISCAYN E
25 SW EET W ATER
26 . F' NIA GARDENS
:7 I4 ALEAP GARDEl43
28 AL'EMT LRA
30 ti. - 9PORA730
3 'L tit,., 135E3 BEACH
32 Y 1A44s LAKES
33 PALMETTO BAT
34 M AM/ GARDENS
35 CORAL
36CUT ER BAY
COUNTY-1W0 E
2012.
PR SLIM DIARY
TAXABLE
Y3_'W'f
31,333 334037
11,683 065 954
23,072.121.980
112..393414
12 023.562932
7,2:... sw 057
376,429,125
2J162 5.25 293
768
637 1:: '53
- S:E 77; 726
?32 3s'3 729
745.826 788
3,173_470 7 34
571,865.315
1,062214225
213 664055
439.106.372
1123 671.327
85 713 61 9
633 1,3 '_27
3,639 3r:
-o..1:s046
- 752,344 746
636„142,982
5,772 E::344
77 5"?751
905 ° "4 474
7,5: -.:
5,s.3Es_,255 998
6,352254.331
2.455. _S55
2,414 961 712
3,383=56,2E;
8 62E 768 4 54
70.5 41 398
2016
TAXABLE VALUE MET MEIN
BEFORE MEN PERCENT TAXABLE
COMSTRUCT1O1 C39ANOE VAL_E
32,643,651,475 4.19% .- .7.
tots
PRELIM WAR Y
TAXABLE
VALUE
PERCENT
CHAN 3E
FRGM 2012
12,462,905,646 6.67% z. -' 1772
24,578,430,867 6.53% 79,5546 G22
125,979,773 7.64% 360012
12236,537,293 1.50% :4.n3.300
5.958,825.514 -3.68% 12.687 313
906,250,31:3.40% 4601.6229
2666,543645 3.17% 18,492,446
1,734,213,0441 -024% 6,785.051
653,441,694 -85C% lid 126
1,415,974,323 '7.369407
1,774,373,325 -1.5834 317.621403
753,819405 1.84% 520.313
1,651,040438 15.09% 1,734215
531,t37 :.J 3.48% 2. 12..057
1,123,35 .777 7.54% 719.173
470 22S% 829A56
412,573,293 -4 50% 4,0213649
112,218,518 227% 171111
MI, ' : 9.4 SD 2.883 250.891
399,524 754 8.61% 5,1E2412
7,739,764719 1 57t 23.340.704
432,616,913 19.' 438,2.55
I.783,834,513 ' 76% 13,323.031
267,15 ,.. 4.87% 1,922.613
4,'15,3 7112 5.84% 35,584.069
1,2'4,852 3.2.98% 2,E2e C7
193,:. 5 F' 0'8% 5 531
901,089,626 -0.53% 6,413278
7,786,949247 3.81% -216349
54 , 384 .7 54, 710 0.0 3% 1,016.129696
6,933,1143.377 10.27% 3,242.515
3,437,475,224 1.1 " « 12,306,143
2,327,757,743 "- 2,334.618
3,315,,49,071 -2.15% 9,131.722
9,80948 533 1.72% 73,053,156
1,753,667,212 2.'9% '6,700.126
199,989,779,271 11 6,179,409,048 2.99% 957,423.991
32.736,569577
12,477.677A39
24,656,576.1119
121,139, 65
1I :8P,770550
2,371 T 1: 847
9102S2.SC5
2 012.026.011
1,740,9911F99
659,711,152
1,413,341.77.7
1101,014,731
784 .12.319
3.652,792 693
602.162.92aC
1,144,071,272
253,9r3...b
• 141691.947
132,79F. 9
MIA.30,3 41
691.711.276
3,737,103.393
431,0716. .
1,737,11754
663,073,743
6.151.9030.
1277,173,344
183.247.173
909,500.904
- 66,432291
55431,1384 106
6,904,006692
2210381,537
2 300,102401
3,324210.793
8,682,534,711
1,769,747,418
117,191686.989
447.
6.904
$A'%
7.35%
2.12%
-3_33N
1 0 74
o 15%
-9 4 8%
= 46%
161%
16.1416
3165%
7.71
-1 97%
iS94
240%
3171.
9 4 514
2.67%
1953%
52%
5..18K
5.46%
3 19%
0.796k.
3,80%
190%
10 3:M4
1.67 5
-0 62%
-1 9294
235%
37714
3.39%
$794 Million Increase (6.8%)
from prior year
•New construction value $14 Million
•57% of the City's taxable value
increase attributable to DDA district;
•DDA district represents 38% of
City's tax revenues
•DDA District valuation larger than
all of Miami -Dade County's 35 cities,
except Unincorporated area (UMSA)
and Miami Beach, having now
surpassed Coral Gables
Submit►ted Into the public
recur illrection,.wt
Ife. # �J ln O 7//2/ l.3PrisciiA. Thomp6on
City"Clerk
Proposed FY 13-14 Budget Advertisement
Revenue Sources
Ad Valorem Tax Levy (0.478 mil)
Other Revenue
Carryover Funds from Prior Years
Downtown Development Regional Impact (DRI) Funds
Total Sources
Use of Funds
Agency Operating Expenditures
CIP, Urban Design, Transportation & Services
Signage & Wayfinding Program
Economic Development, Marketing & PR
Strategic Partnerships & Sponsorships
Subtotal
Property Valuation Contingency
Downtown Development Regional Impact (DRI) Expenditures
Total Uses
GENERAL FUND
5,964,044
1,000,000
1,871,189
8,835, 233
1,086,588
2,761,920
1,500,000
2,291,325
945,400
8,585,233
250,000
8,835,233
DRI
315,000
315,000
315,000
TOTAL ALL FUNDS
5,964,044
1,000,000
1,871,189
315,000
9,150,233
1,086,588
2,761,920
1,500,000
2,291,325
945,400
8,585,233
250,000
315,000
315,000
r
Submitted
reco
Item
Pnscil'•
9,150, 233
1
Into the public
n ectio w
Jn 0ql/z
A. Thompson,
City°Clerle
PriscilI�, A. Thompbo