HomeMy WebLinkAboutExhibitBUDGET SUMMARY
The Downtown Development Authority of the City of Miami, Florida
Fiscal Year 2016-2017
THE PROPOSED OPERATING BUDGET EXPENDITURES OF THE DOWNTOWN DEVELOPMENT AUTHORITY
OF THE CITY OF MIAMI ARE 1.9% MORE THAN LAST YEAR'S TOTAL OPERATING EXPENDITURES
Revenue Sources
Ad Valorem Tax Levy
Total Sources
0.4681 Millage per $1000
Fund Balances/Reserves
Downtown Development Regional Impact (DRI) Funds
Total Revenues and Balances
TOTAL ALL
GENERAL FUND DRI FUNDS
7,808,726 7,808,726
7,808,726
1,255,374
9,064,100
150,000
7,808,726
1,255,374
150,000
150,000 9,214,100
Operating Expenditures
Leadership, Advocacy & Operations 1,116,700 1,116,700
Arts, Culture & Entertainment 1,030,450 1,030,450
Business Development & Marketing 1,965,950 1,965,950
Quality of Life 2,392,800 2,392,800
Urban Placemaking 1,191,600 1,191,600
Transit, Connectivity & Mobility 1,066,600 1,066,600
Tri-Rail Downtown Link 300,000 300,000
Total Operating Expenditures 9,064,100 - 9,064,100
Fund Balances/Reserves
Downtown Development Regional Impact (DRI)
150,000 150,000
Total Expenditures, Reserves and Balances 9,064,100 150,000 9,214,100
RESOLUTION NO. 20/2016
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, 2016 AND ENDING SEPTEMBER 30, 2017,
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, 2016 AND
ENDING SEPTEMBER 30, 2017 WITH THE CITY CLERK OF THE CITY OF
MIAMI AFTER ADOPTION AND ESTABLISHMENT OF THE MILLAGE .BY
THE MIAMI CTTY 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, 2016 and
ending September 30, 2017; 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 I. 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, 2016
through September 30, 2017".
Section 3. The following appropriations for the Fiscal Year beginning October 1,
2016 and ending September 30, 2017 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:
GENERAL FUND DRI TOTALALIFUNDS
Revenue Sources
Ad Valorem Tax Levy 7,923,830 7,923,830
Total Sources 7,923,830 7,923,830
Fund Balances/Reserves
Downtown Development Regional Impact (DRI) Funds
Use of Funds
1,140,270 1,140,270
150,000 150,000
Total Revenues and Balances 9,064,100 150,000 9,214,100
Leadership, Advocacy & Operations 1,116,700 1,116,700
Arts, Culture & Entertainment 1,030,450 1,030,450
Business Development & Marketing 1,965,950 1,965,950
Quality of Life 2,392,800 2,392,800
Urban f lacemaking 1,191,600 1,191,600
Transit, Connectivity & Mobility 1,066,600 1,066,600
Trl-Ralf Downtown Link 300,000 300,000
Subtotal 9,064,100 9,064,100
Fund Balances/Reserves
Downtown Development Regional Impact (DRI) Expenditures
150,000 150,000
Total Uses 9,064,100 150,000 9,214,100
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 201 6-2017 Fiscal Year, October 1, 2016.
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 2016-2017, which shall be entitled "Annual. Budget of the
Miami Downtown Development Authority: Fiscal Year October 1, 2016 through September 30,
2017".
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 15tb day of July, 2016.
us ell, Chairman
Alyce ` . Robertson, Executive Director
ATTEST:
Kar y rav
Secre ary to the Board of the Directors
sit ,or
CERTIFICATION OF TAXABLE VALUE
DR-420
R, 5/12
Rule 12D-16,002
Florida Administrative Code
Effective 11 /12
Year: 2016
County: MIAMI-DADE
Principal Authority :
Dade Co, Downtown Dev, Authority
Taxing Authority :
DADE CO DOWNTOWN DEV AUTH
SECTION I : COMPLETED BY PROPERTY APPRAISER
1,
Current year taxable value of real property for operating purposes
$• 15,674,01.8,974
(1)
2,
Current year taxable value of personal property for operating purposes
$ 1,006,821,449
(2)
3,
yearcentrallyproperty p g purposes
Current taxable value of assessed.for operating
$ 9.06,321
(3)
4,
Current year gross taxable value for operating purposes (Line 1 plus Line 2 plus Line 3)
$ 16,681,746,744
(4)
5,
Current year net new taxable value (Add new construction, additions, rehabilitative
improvements increasing assessed value by at least 100%, annexations, and tangible
personal property value over 115% of the previous year's value. Subtract deletions.)
$ 356,021,949
(5)
6.
Current year adjusted taxable value (Line 4 minus Line 5)
$ 16,325,724,795
(6)
7,
Prior year FINAL gross taxable valuefrom prior year applicable Form DR-403 series
$ 14,836,077,075
(7)
8,
Doesthe taxing authority include tax increment financing areas? If yes, enter number
of worksheets (DR-420TIF) attached. If none, enter 0
YES
Number
.0
(8)
NO
9,
Does the taxing authority levy a voted debt service millage or a millage voted for 2
years or less under s. 9(b), Article VII, State Constitution? If yes, enter the number of
DR-420DEBT, Certification of Voted Debt Millage forms attached, If none, enter 0
E YES
Number
0
(9)
v' N0
SIGN
HERE
Property Appraiser Certification I certify the taxable values above are correct to the best of my knowledge,
Signature of Property Appraiser:
Electronically Certified by Property Appraiser
Date
7/1 /2016 10:15 AM
SECTION II COMPLETED BY TAXING AUTHORITY
If this portion •ofthe 'form is not completed In FULL your taxing authority will be dented TRIM certification and
possibly lose its millage levy privilege for the tax year. If any line is not applicable, enter -0-,
10'
Prior year operating millage levy (If prior year millage was adjusted then use adjusted
millage from Form DR-422)
0.4681 per $1,000
(10)
11.
Prior year ad valorem proceeds(Line 7 multiplied by Line 10, divided by 1,000)
$ 6,944,768
(11)
12
Amount, if any, paid or applied in prior year as a consequence of an obligation measured by a
dedicated Increment value (Sum of either Lines 6c or Line 7a for all DR-420TIF forms)
$ 0
(12)
13,
Adjusted prior year ad valorem proceeds (Line 11 minus Line 12)
$ 6,944,768
(13.).
14.
Dedicated increment value, If any (Sum of either Line 6b or Line 7e for all DR-420TIF forms)
$ 0
(14)
15,
Adjusted current year taxable value (Line 6 minus Line 14)
$ 16,325,724,795
(15)
16,.
Current year rolled -back rate (Line 13 divided by Line 15, multiplied by 1,000)
0.4254 per $1000
(16)
17.
Current year proposed operating millage rate
0,4681 per $1000
(17)
18
Total .taxes to be levied at proposed millage rate (Line 17 multiplied byLine 4, divided
by 1,000)
$ 7,808,726
(18)
Continued on page 2
DR-420
n.5/1z
Page 2
��\
TYPE ofpdOc����ut��dtv(chec��n*)
-' -~ `- -'
||
County
|�i
/ '
independent Spoda|�btdo
' `
Water Management District
(19)
20.
Applicable ta>Ungauthority (check one)
L4pdndpa|Au��odt --
�� --
—1 M%TU |
Dependent
| water Management District Basin
(20
21.
|omU|agelevied |nmore than one county? (check one) Yes
-- No
(21)
'
Zl
Enter the total adjusted prior year advalorem proceeds vf the principal authority, all
dependent special districts, and M5TUslevying amDlago. (Tm»umofUney3ftoxnu0DR-420
form
$ 6,944,768
(22
23'
Current year aggregate �o||ed-bockrate (Line 23divided byLine /5,multiplied hy/,000)
O,4254 par$1,80V
(23)
24'
CurrentyearogQragatoro||ed'beoktoxas(Lino4multip0edbyLinol3,oYWdodby/,000)
$ 7/Q96,415
(24)
25.
Enter total of all operating ad valorem taxes proposed to be levied by the principal
taxing authority, all dependent districts, and MSTUs, If any, (The sum of Line 18.from all
DR-420fonnd `
'
$ 7/808726
.
(25)
20.
Current year proposed egQegatemNogerat*(Line25dkvidedhYU»«4,mud1p0«d
hy�00�
U�6D1 par$l�OO
�§)
27.
^ ~
Current year as
Line 23, MMUS 1,multiplied by
10.0496
(27)
�
First public
budget hearing
Date:
9/8/ O18
Time:
S:05pKAEST
Place
Miami City Hall. 3500Pan American Drive, Miami, pL35133
S
G
N
H
E
K»
E
Taxing Authority Certification
-
| certify the 0U|agesand rates are correct tothe best ofmyknowledge,
The millages comply with the provisions of s. 200,065 and the provisions of
either o.2001]71ors.20U�R1,F.S.
Signature ofChief Administrative Officer:
Electronically Certified byTaxing Authority
Date�
7/15/2016 12:21 PK4
Title:
ALY[EK4. R08EKTSON' EXECUTIVE DIRECTOR
Contact Name and Contact Title:
CAROL|NAbONQ0N{\MANAGER, ACCOUNTING AND
FINANCE
Mailing Address:
200S.D|SCAYNEBLV[\8TE2929
Physical Address
2UVS.8|S[AYNE8LVD~SUITE 2029
Ch�State, Zip:
/N|Ak4| FL "
Phone Number;
(305)579-0075
Fax Number:
(305)371-2423
Instructions on page 3
FLORIDA
MAXIMUM MILLAGE LEVY CALCULATION
PRELIMINARY DISCLOSURE
For municipal governments, counties, and special districts
Print�.orm �;
DR-420MM-P
R. 5/12
Rule 12D-16,002
Florida Administrative Code
Effective 11/12
Year: 2016
County: MIAMI-DADE
Principal Authority :
Dade Co, Downtown Dev. Authority
Taxing Authority:
DADE CO DOWNTOWN DEV AUTH
1
Is your taxing authority a municipality or independent special district that has levied
ad valorem taxes for less than 5 years?
Yes
❑ No
(1)
IF YES, ' " P STOP HERE. SIGN ANO SUBMIT. You are not subject to a millage limitation.
2.
Current year rolled -back rate from Current Year Form DR-420, Line 16
0,4254 per $1,000
(2)
3.
Prior year maximum millage rate with a majority vote from 2015 Form DR-420MM, Line 13
0,4255 per $1,000
(3)
4,
Prior year operating millage rate from Current Year Form DR-420, Line 10
0,4681 per $1,000
(4)
%
-r t ti j + is a lt1 \ .r N } + fr i, �1 h sa➢
ih... /F••. .�,i
@ . 15fY' ( C S. ,, : .. f 7 - },�?i 1. L }} CFy -.21 (v kS^ +
3et•: <M ��.-_rYQ,u,1t 4 � x�. �t�:r+Z } Q�B'J1. :r1�d,.,,,5.� W t.�ia :i'^.�tl. s� t i�t'�
5 _ h
;t 1!�`Y.ptt S lMr E'''•F } j:. hLS D +P l wf�,<� �::.'
^}.fit!?Le t" x!4'lli•�,:e�'11Q: at PY✓N afY ^r L�, �...l id. Ys'.s s, fir..{,. }+r, £iYA
Adjust rolled -back rate based on prior year majority -vote maximum millage rate
5.
Prior year final gross taxable value from Current Year Form DR-420, Line 7
$ 0
(5)
6'
Prior year maximum ad valorem proceeds with majority vote
(Line 3 multiplied by Line 5 divided by 1,000)
$ 0
(6)
7
Amount, if any, paid or applied in prior year as a consequence of an obligation
measured by a dedicated Increment value from Current Year Form DR-420 Line 12
$ 0
(7)
8,
Adjusted prior year ad valorem proceeds with majority vote (Line 6 minus Line 7)
$ 0
(8)
9,
Adjusted current year taxable value from Current Year form DR-420 Line 15
$ 0
(9)
10.
Adjusted current year rolled -back rate (Line 8 divided by Line 9, multiplied by 1,000)
0.0000 per $1,000
(10)
Calculate maximum millage levy
11.
Rolled -back rate to be used for maximum millage levy calculation
(Enter Line 70 if adjusted or else enter Line 2)
0r4254 per $1,000
(11).
12,
Adjustment for change in per capita Florida personal income (See Line 12 Instructions)
1.0375
(12)
13,
Majority vote maximum millage rate allowed (Line 11 multiplied by Line 12)
0,4414 per $1,000
(13)
14,
Two-thirds vote maximum millage rate allowed (Multiply Line 13 by 140)
0,4855 per $1,000
(14)
15.
Current year proposed millage rate
0,4681 per $1.,000
(15)
16.
Minimum vote required to levy proposed millage: (Check one)
(16)
a
a. Majority vote of the governing body: Check here If Line 15 is less than or equal to Line 13, The maximum millage rate Is equal
to the majority vote maximum rate, Enter Line 13 on Line 17.
f
b. Two-thirds vote of governing body: Check here if Line 15 is less than or equal to Line 14, but greater than Line 13. The
maximum millage rate is equal to proposed rate. Enter Line 75 on Line 17.
Hc. Unanimous vote of the governing body, or 3/4 vote if nine members or more: Check here If Line 15 Is greater than Line 14,
The maximum millage rate is equal to the proposed rate. Enter Line 15 on Line 17.
❑ d. Referendum: The maximum millage rate is equal to the proposed rate. Enter Line 15 on Line 17.
17,
The selection on Line 16 allows a maximum millage rate of
(Enter rate indicated by choice on Line 16)
0,4681 per $1,000
(17)
18.
Current year gross taxable value from Current Year Form DR-420, Line 4
$ 16,681,746,744
(18)
Continued on page 2
Taxing Authority:
DADE{DDOWNTOWN oEVAUTH
DR~420NM-f
R. 5U2
Page
19,
Current year proposed taxes (Line Y5multiplied hyLine 1÷d 6y1,D0C)
7,808,726
(19)
2D
Total taxes |eWedmtthe maximum m|||mgarate (Line 77mu/�mVod6��oo7��dh�deJ
by 1,000)
$ 7,808,720
(20)
gi
21
'
Enter the cunentymarproposed taxes ofall de d special
r~'~''t
om|||age.(The sum vfall Lines Y9 from each district's Form DR-420M8Yf)
$ O
(21)
22.
Total current year proposed taxes (Line Y9plus Line 2Y)
$ 7,808,726
(22)
rotaiMaximum Taxes
�3
'
Enterthetaxes atthe maximum m|||uQeofaUdependentspodk� special
|avy|ngom||[age (The sum uyall Lines 2Vfrom each district's Form QR-420/N8Vf)
$ 0
{2�
24.
Total taxes otmaximum m|Uagerate (Line 20plu Line 23) `
$ 7,808,726
(24)
Total Maximum Versus Total Taxes Levied
23
'
Are total cunantyaorpmpunedtameonUno22aqum|tonr�ethentot |tmxeootthe
maximum mU|oga�teonUne247(Check one)
� YES �l NO
/ /
<2�
1
��
�
m
E
Taxing Authority Certification
�
I certifythe millages and rates are correct tnthe best ufmyknowled8eThemIl|u0e»
comply with the provisions ofa2NlOb5and the provisions ofeither x.2VO.071 vru
anOo81 F.S.�
. 'F.
Signature of Chief Administrative Officer:
Electronically
. '.~.~.�
Date�
7/15/201012�1PM
Title:
ALYCEM.RODERTSON,EXECUTIVE DIRECTOR
Contact Name and Contact Title:
CAROLINAL0NDDN{\MANAGER, ACCOUNTING AN D
FINANCEE
Mailing Address:
200S.8|SCAXNEBLVDSTE2929
Physical Address /
2OUS.BISCAYNEBLVD,SUITE 2929
City, State, Zip:
KA|Ak4I, rL33l31
Phone Number:
Fax Number:
Complete omdsmbuitth/sform DR~42Maximum Millage Levy to
Instructions on page 3