HomeMy WebLinkAboutMemo - Downtown Development AuthorityIIIMIAMIDDA
DOWNTOWN DEVELOPMENT AUTHORITY
Memorandum
To: The �r onorable lVyo,r, and !_embers of the City Commission
From: lyce ; Robertson
Execu i ve Director
Date: 8/18/2016
Subject: Miami DDA FY 2016-2017
Defining and Designating Territorial Limits and Setting Millage for FY 2016-2017
Re: For September 6, 2016 City Commission Meeting —1st Budget Hearing
Recommendation
It is respectfully requested that the City Commission adopt the attached Resolution defining and
designating the territorial limits of the Downtown Development Authority independent taxing district
and setting the millage thereof.
Background
Chapter 14 of the City of Miami Code authorizes the City Commission to levy an additional ad
valorem tax on all real and personal property within the Downtown Development District, not to
exceed 0.475 mills on the dollar valuation of such property for financing the operations of the Miami
Downtown Development Authority ("DDA").
Attached is a Resolution for City Commission approval, which defines and designates the Downtown
Development District boundaries, fixes the millage at 0.4681 mills and levies taxes for the Fiscal Year
beginning October 1, 2016 and ending September 30, 2017.
The proposed millage rate is the same as the current year's rate.
AMR/cdl
Attachments
cc: Victoria Mendez, City Attorney (via email)
John A. Greco, Deputy City Attorney (via entail)
Miriam M. Arcia, Agenda Office (via email)
Miami Downtown Development Authority
200 S. Biscayne Boulevard, Suite 2929
SoutEast Financial Center
Miami, Florida 33131
Tel: 305.579.6675
Fax: 305,371.2423
www.miamidda.com