HomeMy WebLinkAboutBack-Up DocumentsMidtown Uftard 01Commissioners Meeting
September 8, 2016
IVIIDTOWN REDEVELOPMENT DISTRICI
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE NIEMORANDUM
To: Board Chair Francis Suarez
and Members of the CRA Board
From; Pieter A. I3oekweg
Executive Direotor
BACKGROUND:
/74
Date: August I 1, 2016
Subjoct: Midtown CRA's Proposed General
Operating Budget & Tax Increment
Fond Budget for Fiscal Year 2016-17
References:
Enclosures: Attachment and Legislation
It is recommended that the Board of C011111thiSi011eVS of the Midtown Redevelopment District Community
Redevelopment Agency ("CRA") approve and adopt the attached Resolution, with attachment(s), adopting
the proposed Midtown CRA's General Operating Budget and Tax Increment Fund Budget, for the Fiscal
Year commencing October 1, 2016, and ending September 30, 2017, and further directing the Executive
Director to transmit a copy of each budget to the City of Miami and Miami -Dade County.
jUSTIFICAT1ON:
The Interlocal Agreement requires the Midtown CRA to annually prepare a proposed budget and transmit
same to the City of Miami and Miami -Dade County.
This Resolution fulfills this requirement.
City of Miami
Legislation
CRA Resolution
Clty Haft
3600 Pan American
Dive
Miami, FL33133
www.mlamlgov,com
File Number: 16-011.98
Final Action Date;
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE MIDTOWN
COMMUNITY REDEVELOPMENT AGENCY ("CRA"), WITH ATTACHMENT(S),
APPROVING AND ADOPTING THE CRA'S PROPOSED GENERAL OPERATING
BUDGETAND TAX INCREMENT FUND BUDGET FOR THE FISCAL YEAR
COMMENCING OCTOBER 1, 2016 AND ENDING SEPTEMBER 30, 2017;
DIRECTING THE EXECUTIVE DIRECTOR TO TRANSMITA COPY OF EACH
BUDGET TO THE CITY OF MIAMI AND MIAMI-DADE COUNTY.
WHEREAS, the Midtown Community Redevelopment Agency ("CRA") Is responsible for carrying
out community redevelopment activities and projects within its Redevelopment Area; and
WHEREAS, as a prerequisite to carrying out Fiscal Year 2016-2017 redevelopment activities, the
Board of Commissioners must approve the CRA's proposed General Operating Budget and Tax
Increment Fund Budget for the Fiscal Year commencing October 1, 2016 and ending September 30,
2017; and
WHEREAS, pursuant to an Interlocal Agreement, as amended, a copy of each budget is to be
transmltted to the City of Miami and Miami -Dade County;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE
MIDTOWN 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 attached CRA General Operating Budget and Tax Increment Fund Budget for the
Fiscal Year commencing October 1, 2016 and ending September 30, 2017 are approved and
adopted.
Section 3, The Executive Director is directed to transmit a copy of each budget to the City of
Miami and Miami -Dade County.
Section 4. Thi,Resolutio shall become effective immediately upon its adoption.
APPRO6-ED AS TO • I ANDTOi RECTNESS;
I'CTORIA MEND7,,,,O,ERACOOUNSEL
f
City of Miami
Page 1 of 1 File Id:16.01198 (Version: 1) Printed On: 8/16/2016
REVENUE
MIDTOWN SPECIAL REVENUE FUND
2016-17 Budget
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Estimated
CITY OF MIAMI - Tax Increment Funds 3,300,456.00
MIAMI DADE COUNTY - Tax Increment Revenue 2,013,097.26
Fund Balance FY'16 32,000,00
TOTAL REVENUE 5,345,553.26
EXPENDITURE
PROFESSIONAL SERVICES 5,000.00
INTERFUND TRANSFER
Regular Salaries and 2,750.00
Fringe Benefits 8,399.82
Fica Taxes 210.37
INTERFUND TRANSFER (Grant)
OTHER CURRENT CHARGES AND OBLIGATION 5,260,949.00
OTHER GRANTS AND AIDS
Fund Reserve 68,243.47
TOTAL EXPENDITURES 5,345,552.66
REVENUES LESS EXPENDITURES (0.00)
6/30/2016
MIDTOWN SPECIAL REVENUE FUND
Estimated 2016-2017 Budget
DESCRIPTION
Category
Authorization
Funding Source 2016-17
Carryover Fund
Balance
FY 2016-17
TIF Revenue
PROFESSIONAL SERVICES - OTHER
1
FY 2014/15 External Audit -
Sanson Kline Jacomino & Company, LLP
Admin.
FY 2015/16
Budget
5,000.00
Regular Salaries and
Fringe Benefits
Fica Taxes
Other Current Charges and Obligation
2,750.00
8,399.82
210.37
FY 2014/15 Midtown CDD -
Debt Services
Infrast
Interlacal
Agreement
5,260,949.00
pg 2 of 2 6/30/2016 2:54 PM