HomeMy WebLinkAboutMemos -SEOPWCity of Miami Board of Commissioners Meeting
September 6, 2016
SOUTHEAST OVERTOWN/PARK WEST
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: City of Miami Commissioners Date: August 3, 2016 File:
From: Clarence E. Woods, III
Executive Director
6,J
Subject: SEOPW CRA Proposed General Operating &
Tax Increment Fund Budget for Fiscal Year
2017.
References:
Enclosures: Supporting Documentation; Legislation
BACKGROUND
It is recommended that the Board of Commissioners of the City of Miami approve the attached Resolution
accepting and adopting the proposed budget of the Southeast Overtown/Park West Community Redevelopment
Agency ("SEOPW CRA") for the fiscal year commencing October 1, 2016 and ending September 30, 2017.
JUSTIFICATION
The SEOPW CRA is required to annually prepare a proposed budget and transmit said budget to the City of
Miami and Miami -Dade County. This resolution fulfills that requirement.
SUPPORTING
DOCUMENTATION
SEDPWBoard of Commissioners Meeting
July 2O,201O
SOUTHEAST DVERTOVVNAPARKWEST
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair KonnHardemon
and Members ofthe CRABoard
From: Clarence E.VVuodu, U|
Executive Director
Date: July 15.2018 FUe:18-00Q70
Subject: SEOPWORAProposed General Operating &
Tax Increment Fund Budget for Fiscal Year l
2017.
References:
Enclosures: Legislation
BACKGROUND:
It is recommended that the Board of Commissioners of the Southeast West Community
Redevelopment Agency (1SEOPVVCRA") approve the attached Resolution adopting the proposed SEOPVVCRA
Gowana| Operating and Tax Increment Fund Budget for the Fiscal Year commencing October 1. 2016ond
ending September 30, 2017, and directing the Executive Director to transmit copies of the Budget to the City of
Miami and Miami -Dade County.
The 8EOPWCRA is required to annually prepare a proposed budget and transmit the budget to the City of
City of Miami
Legislation
CRA Resolution: CRA-R-16-0029
File Number: 16-00979
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
Final Action Date: 7/25/2016
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("CRA"),
WITH ATTACHMENT(S), APPROVING AND ADOPTING THE CRA'S PROPOSED
GENERAL OPERATING AND TAX INCREMENT FUND BUDGET FOR THE FISCAL
YEAR COMMENCING OCTOBER 1, 2016 AND ENDING SEPTEMBER 30, 2017
SET FORTH IN ATTACHMENT "A"; DIRECTING THE EXECUTIVE DIRECTOR TO
TRANSMIT A COPY OF SAID BUDGET TO THE CITY OF MIAMI AND MIAMI-DADE
COUNTY.
WHEREAS, the Southeast Overtown/Park West Community Redevelopment Agency ("CRA")
is responsible for carrying out community redevelopment activities and projects within its
Redevelopment Area in accordance with the 2009 Southeast Overtown/Park West Redevelopment
Plan ("Plan"); and
WHEREAS, as a prerequisite to carrying out redevelopment activities for Fiscal Year
commencing October 1, 2016 and ending September 30, 2017 (" FY 2017"), it is required that the
CRA's Board of Commissioners approve the CRA's proposed Fiscal Year 2017 General Operating
Budget and Tax Increment Fund Budget; and
WHEREAS, pursuant to Interlocal Agreements, a copy of CRA's budget is required to be
transmitted to the City of Miami and Miami -Dade County; and
WHEREAS, all the expenses included in the budget are in accordance with state law, Interlocal
Agreements, and the Plan; and
WHEREAS, the Board of Commissioners wishes to approve and adopt the CRA's proposed
General Operating and Tax Increment Fund Budget for the FY 2017 set forth in Attachment "A";
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE
SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY OF THE CITY
OF MIAMI, FLORIDA.
Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted
by reference and incorporated herein as if fully set forth in this Section.
Section 2. The Southeast Overtown/Park West Community Redevelopment Agency's General
Operating and Tax Increment Fund Budget for the Fiscal Year commencing October 1, 2016 and
ending September 30, 2017, set forth in Attachment "A," are hereby approved and adopted.
Section 3. The Executive Director is directed to transmit a copy of said budget to the City of
Miami and Miami -Dade County.
Section 4. This Resolution shall become effective immediately upon its adoption .
City of Miami Page 1 of 2 File Id: 16-00979 (Version: 2) Printed On: 8/3/2016
File Number: 16-00979 Enactment Number: CRA-R-I6-0029
City of Miami Page 2 of File Id: 16-00979 (Version: 2) Printed On: 8/3/2016
,,010 MiteSW0PgetPAVISMetf ,,,Atiltitt
§o, trotoltiotiAti4 ' clit " u146:B(JD9FT,,
p,
y�17'
t
F3vPd92E,P,,,t
T,,;.i,i9,9g-fi,,,
,,d,,,Ar,
11'F,Y.,4203,QA
:;,orrsyrpor-,,-po:
'i''M,y3L'12,7',.
niiiTi4vi6,:i:
%;;','14,4?2!,7;)
iAiA4 ?
011,31',7 ilii,
REVENUES
CITY OF MIAMI -TAX INCREMENT (ORIGINAL BOUNDARIES) 1
MIAMI DADE COUNTY -TAX INCREMENT (ORIGINAL BOUNDARIES)
CITY OF MIAMI - TAX INCREMENT (EXPANDED BOUNDARIES)
MIAMI DADE COUNTY - TAX INCREMENT (EXPANDED BOUNDARIES)
CITY OF MIAMI - TAX INCREMENT (PARK WEST ADDITION)
MIAMI DADE COUNTY - TAX INCREMENT (PARK WEST ADDITION)
2016 CONTRIBUTION FROM THE CHILDREN TRUST FUND
GRANT FROM EDA (FEDERAL GOVERNMENT)
2016 UNAUDITED FUND BALANCE
$10,527,913
$6,424,109
$483,761
$295,185
$364,043
$222,061
$32,689,516
$9,289,271
$5,793,212
$342,425
$233,394
$347,349
$211,998
$0
$0
$34,858,127
$1,238,642
$630,897
$141,336
$61,791
$16,694
$10,063
$0
$0
-$2,168,611
TOV)tR0:1,61SW;',,MItPIPA,ARON.WHO.,0#0461,4,ZAVAtaBfgAMID M'f,'Wg,i
'Z't $,S1006;588
It51;075,776,
'76/1,469).1138
REDEVELOPMENT EXPENDITURES
Wca,414,40
Vattgan
pf,",:i41,::,.,41q,,,,,
PROFESSIONAL SERVICES - LEGAL
$319,996
294,696
$25,300
ACCOUNTING AND AUDIT
$31,200
30,000
$1,200
PROFESSIONAL SERVICES - OTHER
$3,036,834
1,840,978
$1,195,856
OTHER CONTRACTUAL SERVICES
$390,000
292,759
$97,241
LAND
$1,653,794
1,535,968
$117,826
INTERFU ND TRANSFER (Grant)
$2,325,297
2,146,571
$178,726
DEBT SERVICE PAYMENT
$11,450,659
8,152,609
$3,298,050
CONSTRUCTION IN PROGRESS
$176,984
6,486,161
-$6,309,177
OTHER GRANTS AND AIDS
$28,171,988
27,529,840
$642,148.
Abmisii ift'Ativt. tip ti,',1 bjto RE :NW:=0.4,M.:14';"
REGULAR SALARIES
$1,083,306
976,163
$107,143
FICA TAXES
$82,873
74,676
$8,197
LIFE AND HEALTH INSURANCE
$173,014
163,191
$9,823
RETIREMENT CONTRIBUTION
$102,079
92,818
$9,261
FRINGE BENEFITS
$18,300
38,300
-$20,000
OTHER CONTRACTUAL SERVICE
$92,566
90,030
$2,536
TRAVEL AND PER DIEM
$30,000
40,000
-$10,000
COMM U N [CATIONS
$0
5,500
-$5,500
UTILITY SERVICE
$64,401
10,000
$54,401
INSURANCE
$139,555
64,500
$75,055
OTHER CURRENT CHARGE
$59,000
26,000
$33,000
SUPPLIES
$12,000
12,000
$0
OPERATING SUPPLIES
$12,000
12,000
$0
SUBSCRIPTION MEMBERSHIP/TRAINING
$15,000
15,000
$0
MACHINERY AND EQUIPMENT
$3,000
3,000
$0
ADVERTISING
$35,000
35,000
$0
RENTAL AND LEASES
$67,000
7,000
$60,000
POSTAGE
$2,000
2,000
$0
REPAIR/MAINTENANCE - OUTSIDE
$2,000
2,000
$0
INTERFUND TRANSFER
$30,000
30,000
$0
FY 2017 BUDGET RESERVE - ADMINISTRATION
$240,000
240,000
$0
BUDGET RESERVE - OTHER (Revenue Shortfall Reserve)
a) FY 2013 Carryover Fund Balance (Surplus)
$314,134
314,134
$0
b) FY 2014 Carryover Fund Balance (Surplus)
$512,015
512,882
-$867
c) FY 2015 Carryover Fund Balance (Surplus)
$360,593
$360,593
TOTAI:FUNOBALANcEiiMOMMOROIOMMWRIMPfeRirk:'alibMat
J6$$I:,,006,89
i.,$51.,075,7,76
j,f,i,,lt*$69,187
$0
2017 TIF Revenue $18,317,072
2017 Administrative Expenditures $2,023,094
%Administrative Exp/ 2017 TIF Revenue 11%
2017 Budget Reserve $1,426,742
Total 2017 Budget $51,006,589
% 2017 Budget Reserve / Total 2017 Budget 3%
$0