HomeMy WebLinkAboutDDA ResolutionRESOLUTION NO. 23/2014
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, 2014 AND ENDING SEPTEMBER 30, 2015,
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, 2014 AND
ENDING SEPTEMBER 30, 2015 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, 2014 and
ending September 30, 2015; 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, 2014
through September 30, 2015".
Section 3. The following appropriations for the Fiscal Year beginning October 1,
2014 and ending September 30, 2015 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:
BM: 7/18/2014
Reso#23/2014
GENERAL FUND
DRI TOTAL ALL FUNDS
Revenue Sources
Ad Valorem Tax Levy
Other Revenue
Carryover Funds from Prior Years
Downtown Development Regional Impact (DRI) Funds
6,417,242 6,417,242
1,500,000 1,500,000
739,914 739,914
315,000 315,000
Total Sources 8,657,156
Use of Funds
Agency Operating Expenditures
CIP, Urban Design, Transportation &Services
Signage & Wayfinding Program
Economic Development, Marketing & PR
Strategic Partnerships & Sponsorships
Subtotal
Downtown Development Regional Impact (DRI) Expenditures
315,000 8,972,156
1,152, 860 1,152, 860
2,705,435 2,705,435
1,485,000 1,485,000
2,363,461 2,363,461
950,400 950,400
8,657,156 - 8,657,156
Total Uses 8,657,156
315,000 315,000
315,000 8,972,156
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 2014-2015 Fiscal Year, October 1, 2014.
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 2014-2015, which shall be entitled "Annual Budget of the
Miami Downtown Development Authority: Fiscal Year October 1, 2014 through September 30,
2015".
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 1y of Ju
AT EST:
Madelyn Ra bou
Madelyn Raybou
to the Board of the Directors
'
issioner Marc D. S,afn9
/ G°e'
Ct.
airman
lyce M. obertson, Executive Director
BM: 7/18/2014
Reso#23/2014