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DOWNTOWN DEVELOPMENT AUTHORITY
Memorandum
To: The onorable ayo an 1 Me bers of the City Commission
From: 41yce M iobe tso , Executive Director
Date: June 23, 2014
Subject: Proposed DDA Millage Rate for FY 2014-2015
Re: Items for July 24, 2014 City Commission Meeting
Recommendation
It is respectfully requested that the City Commission approve the attached Resolution establishing
the FY 2014-2015 millage rate for the Downtown Development Authority ("DDA") of the City of
Miami, Florida.
Background
In 1980, the State of Florida Legislature enacted House Bill 4-D entitled "Truth in Millage" (TRIM
BILL), which has been incorporated into the Florida Statutes under Section 200. The TRIM BILL
also stipulates that the proposed millage rate be submitted to the Property Appraiser and Tax
Collector, and included in the City's tax notices mailed to property owners.
The City Commission is authorized under Chapter 14 of the City of Miami Code to levy an
additional ad valorem tax on all real and personal property in the Downtown Development District,
not to exceed one-half (0.5) milI, for the purpose of financing the operations of the DDA.
The proposed millage rate for the DDA for the fiscal year beginning October I, 2014 and ending
September 30, 2015 is mill, which is % less/more than the roll back rate of %.
The Miami City Commission must also establish the dates and times of the first and second public
hearings in connection with the .DDA FY 2014-2015 proposed millage rate and budget. As in past
years, the DDA's public hearings should be scheduled for the same date as the City's.
AMR/cd1
Attachments
cc: Victoria Mendez, City Attorney (via email)
Warren Bittner, Deputy Emeritus (via email)
Julia Hernandez, Agenda Office (via email)
Miami Downtown Development Authority
200 S. Biscayne Boulevard, Suite 2929
Wachovia Financial Center
Miami, Florida 33131
Tel: 305.579.6675
Fax: 305.371.2423
Web: www,miamidda.com