HomeMy WebLinkAboutMemo - Downtown Development AuthorityIIIMIAMIDDA
DOWNTOWN DEVELOPMENT AUTHORITY
Memorandum
To: The Jionorable Mayor i Me a, bers of the City Commission
From: lyce . Rober son
Execue Director
Date: 8/18/2016
Subject: Miami DDA
Appropriations Resolution 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 Appropriations Resolution for
the Miami Downtown Development Authority for the Fiscal Year beginning October 1, 2016 and
ending September 30, 2016.
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 for the
purpose of financing the operations of the Miami Downtown Development Authority ("DDA").
The DDA budget for the FY 2015-2016 was based on ad valorem revenues of $7,082,727. The
proposed DDA budget for FY 2016-2017 is based on estimated ad valorem revenues of $7,808,726.
This represents an increase in ad valorem revenues of $725,999.
Attached for City Commission approval is an Appropriations Resolution for the Miami Downtown
Development Authority for the Fiscal Year beginning October 1, 2016 and ending September 30,
2017.
Attachments
A: Proposed Resolution Re: the Adoption of DDA Appropriations for FY 16-17
B: DDA Board Resolution No.20/2016 in support of proposed budget for FY 16-17
C: TRIM forms DR-420 and DR420MM-P completed by the DDA
cc: Victoria Mendez, City Attorney (via email)
John A, Greco, Deputy City Attorney (via email)
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
Web: www.miamidda.com