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HomeMy WebLinkAboutBack-Up DocumentsOMNI Board of Commissioners Meeting July 27, 2017 OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY INTER -OFFICE MEMORANDUM To: Board Chair Ken Russell Date: July 21, 2017 and Members of the CRA Board From: Jason Walker Executive Director File: 2688 Subject: Approving the Omni CRA's General Operating Budget & Tax Increment Fund Budget for Fiscal Year '17-18 Enclosures: 2688 Exhibit A BACKGROUND: It is recommended that the Board of Commissioners of the Omni Redevelopment District Community Redevelopment Agency ("CRA") approve and adopt the attached resolution, with attachment(s), adopting the Omni CRA's General Operating Budget and Tax Increment Fund Budget, for the fiscal year commencing October 1, 2017, and ending September 30, 2018, and further directing the Executive Director to transmit a copy of each budget to the City of Miami and Miami Dade County. JUSTIFICATION: The Interlocal Agreement requires the OMNI CRA to annually prepare a proposed budget and transmit same to City of Miami and Miami Dade County This Resolution fulfills this requirements. RtAt City of Miami City Hadi 3500 Pan American Drive Legislation Miami, FL 33133 www.miamigov.com OMNI CRA Resolution CRA-R-17-0043 File Number: 2688 Final Action Date: 7/27/2017 A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY ("CRA"), WITH ATTACHMENT(S), APPROVING AND ADOPTING THE CRA'S PROPOSED GENERAL OPERATING BUDGET AND TAX INCREMENT FUND BUDGET FOR THE FISCAL YEAR COMMENCING OCTOBER 1, 2017 AND ENDING SEPTEMBER 30, 2018; DIRECTING THE EXECUTIVE DIRECTOR TO TRANSMIT A COPY OF EACH BUDGET TO THE CITY OF MIAMI AND MIAMI- DADE COUNTY. WHEREAS, the Omni Redevelopment District 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 2017-2018 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, 2017 and ending September 30, 2018; and WHEREAS, pursuant to an Interlocal Agreement, as amended, a copy of each budget is to be transmitted to the City of Miami and Miami -Dade County; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE OMNI REDEVELOPMENT DISTRICT 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, 2017 and ending September 30, 2018 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, This Resolution shall become effective immediately upon its adoption. APPROVED AS TO FORM AND CORRECTNESS: Barnaby L. Min, Deputy City Attorney 7/21/2017 City of Miami Page 1 of 1 File ID: 2688 (Revision:) Printed On: 8/11/2017 FY 2018 PROPOSED BUDGET 7/2172017 OMNI TAX INCREMENT FUND BUDGET FY2018 PROPOSED BUDGET FY2017 AMENDED BUDGET BUDGET VARIANCE REVENUES CITY OF MIAMI - TAX INCREMENT 511,065,494 $10,574,483 $491,011 MIAMI DADE COUNTY - TAX INCREMENT (ORIGINAL BOUNDARIES) $6,749,405 $6,453,941 $295,464 CITY OF MIAMI - TAX INCREMENT (2009 ADDITION EXPANDED BOUNDARIES) 5316,848 $240,252 $76,596 MIAMI DADE COUNTY - TAX INCREMENT (2009 ADDITION EXPANDED BOUNDARIES) $193,354 $146,633 $46,721 Tatar TIF Revenues S18,325,101 ESTIMATE LOAN PROCEEDS (with Bank United) 525,000,000 $0 $25,000,000 TRANSFER FROM MIDTOWN CRA(Administration) $46,632 $46,632 $0 RENT INCOME - MEC $100,000 $100,000 $0 OTHER INCOME - MEC (REIMBURSEMENT FOR 2017 PROPERTY TAXES( $178,177 $178,177 $0 RENT INCOME - 1401 LLC $101,481 $101,481 $0 LAND $0 $0 $0 ESTIMATE CHILDREN TRUST CONTRIBUTION $733,004 $713,820 $19,184 2017 UNADIUSTED FUND BALANCE $8,903,477 $7,779,059 $1,124,418 TOTAL REVENUE $53,387,872 526,334,478 $27,053,334 REDEVELOPMENT EXPENDITURES ACCOUNTING AND AUDIT $15,000 515,000 $0 PROFESSIONAL SERVICES - OTHER $732,300 5354,700 $377,600 OTHER CONTRACTUAL SERVICES $371,177 $671,657 -$300,480 INTERFUND TRANSFER (Debt Service) $6,699,867 $4,249,500 $2,450,367 INTERFUND TRANSFER (Grant) $1,564,307 $1,455,033 $109,274 PURCHASE OF REAL ESTATE $7,370,363 $2,000,000 $5,379,363 OTHER CURRENT CHARGE $6,413,765 $6,095,358 $318,427 OTHER GRANTS AND AIDS $25,896,113 $7,232,765 $18,663,348 ADMINISTRATIVE EXPENDITURES REGULAR SALARIES 5535,231 $532,060 53,171 FICA TAXES $40,945 $40,703 $242 LIFE AND HEALTH INSURANCE $48,000 $48,000 $0 RETIREMENT CONTRIBUTION $21,950 520,600 $3,350 FR/NGE BENEFITS $19,500 $24,150 -$4,650 OTHER CONTRACTUAL SERVICE $20,000 $20,000 $0 TRAVEL AND PER DIEM $30,000 $30,000 $0 COMMUNICATIONS $0 $0 50 UTILITY SERVICE $20,300 $20,300 $0 INSURANCE $104,166 $104,166 $0 OTHER CURRENT CHARGE 5193,400 5214,272 -$20,872 SUPPLIES $5,000 S5,000 $0 OP ERATI NG SU PP UES 55,000 $5,000 50 SUBSCRIPTION MEMBERSHIP 517,000 517,000 $0 MACHINERY AND EQUIPMENT $24,000 $24,000 $0 ADVERTISING 530,000 530,000 $0 RENTAL AND LEASES 53,600 $3,600 $0 POSTAGE $2,000 $2,000 $0 REPAIR/MAINTENANCE-OUTSIDE $2,000 $2,000 $0 INTERFUNDTRANSFER 517,500 $17,500 50 Tate AdmInI,tratl,W Ecpnrdturaa $1, 141,5132 RESERVE FOR MIDTOWN ADM EXPENDITURES 545,632 546,637 $0 RESERVE FOR SECURITY DEPOSIT- MEC $125,000 5125,000 50 RESERVE FOR SECURITY DEPOSIT - 1401 GROUP LLC $40,000 $40,000 $0 RESERVE FOR CAPITAL EXPENDITURES 5503,616 $377,135 $226,48.1 RESERVE FOR PAYMENT OF PROPERTY TAXES -MEC $173,177 $1713,177 $0 BUDGET RESERVE 52,180,943 $2,333,170 -5152,227 TOTAL FUND BALANCE 553,387,872. $26,334,478 $27,053,394 A) B} C) 2018 TIE Revenue 2018 TIF Rev for Affordable Housing % 2018 Budget for Affordable Housing SD S© Se $18,325,101 51,832,510 Rotor to Itam 9 • other Oran and Aldo 101.6 2018 TIF Revenue $18,325,101 2018 Administrative Expenditures $1,141,592 %Administrative Exp / 2018 TIF Revenue 6% 2018 Budget Reserve 52,180,943 Total 2018 Budget $53,387,872 % 2018 Budget Reserve / Total 2018 Budget 4% Description Accounting and Audit External Auditing Services to the OMNI CRA 5anson, Kline, lacomino, Tendoc & Ga mars, LLP `Professional Services - Other 2 Lobbyists 3 4 5 Available for Other Professional Services Financial Support Consultant 2018 Omni Redevelopment Plan & FON Category Approval Date Reso e Administration 7/29/2016 16-003B Adm€nistratio Administration Administration 12/14/2016 City of Mterni Procurement Code NR 16-0064 Amount Budgeted $35,000 $116,150 $42,850 Amount Expended Redevelopment NR Planning Administration NR 6 Branding, Website, PR $350,000 $0 50 50 $28,700 So Remaining Balance 515,000 $35,000 5118,150 $14,150 5350,000 $70,000 $0 $70,000 Quickbuild-Protected Bike Lanes Redevelopment NR Planning 560,000 $0 $60,000 8 Traffic Study/Design-N Mia mi Ave & 14th Street Redevelopment NSF Planning $65,000 $0 $65,000 9 'Historic Designations Other Contractual Services 10 Horsepower Street Light Maintenance 11 Available for Landscaping Service Redevelopment NR Planning Quality of Life NR Quality of Life NR $20,000 525,000 $25,000 50 59,029 $3,700 $20,000 515,971 $21,300 12 Urban Temporary Park • Maintenance a ed SecDPliy Administration NR 5125,000 $0 $125,000 13 14 CRA Consultants Available for Other Contractual Services - Proposed Budget $250,00D - 5150,000 allocated to Other Consultants - Interest Revenue Co}fected on 4/19/17 $41,180.52, Interest Revenue 5/18/17.513,414,87 Subtotal Administration NR Administration NR $150,000 $58,906 SL 159, 906 50 $0 $41,429 $150,000 558,905 $1,114477 Total Budget Amount (Professional Services -legal, Accounting and Audit, Professional Services - Other and Other Contractual NR - No CRA Resolution R - CRA Resolution Passed 51,0E9,327 $29,150 $1,118,477 Funding Source Carryover FY 2618 $25M Loan Fund Balance TIF Proceeds Revenue 515,000 50 $o $35,000 50 50 5118,191 So 5D $14,150 $o SD 5312,286 537,714 50 50 $70,000 $0 50 $eo,0oo SD 50 $65,000 $0 $o Szo,o0o So 515,971 $0 $0 $21,300 50 $0 $0 5125,000 $0 5150,000 $0 $0 558,906 $0 $0 $740,763 $377,714 $0 5740,763 $377,714 $0 11,116,477 $15,000 $732,300 $171,177 2 Description Category Approval Date. Res° Amount Budgeted Amount Expended Remaining Balance leterfund Transfer IDebt S. rke) 1 2 2018 Transfer Out to the City of Miami for the payment of the Port of Miami Tunnel Series 2012 Loan with Bankunited - Es0mated principal amount $25M Debt lervice Dec-07 Other Current Charges and Obligations 2007 Global Agreement Debt Service $4,249,500 $2,450,367 $0 $0 54,249,500 52,450,367 3 Estimated 2007 Global Agreement Payment - Performing Art Center infrastructure Dec-07 2007 Global Agreement $6,413,785 5 $6,413,785 Purchase of Real Estate 4 Second Payment- 1367 flank 8uiiding Infrastructure JuI.17 17-0020 52,879,363 50 $2,879,363 5 Purchase of real estate property located at 1990 N Miami Ave Infrastructure tun-17 17.0035 $4,500,000 SO $4,500,000 InterfundTransfer (Grant) 2015.20€6 Policing Services - City of Miami Quality of Life 10/22/2015 15.0043 5710,000 $468,787 $241,213 7 a 9 2017 Grant to the City of Miami Police Department for the Expanded Police Program 2018 Grant to the City of Miami Police Department for the Expanded Police Program 2018 Children Trust Contribution Quality of Life 12/14/2016 Quality of Life uality of Life Dec-07 16.0063 NR lnterlocal Agreement $500,000 $500,000 $733,004 $469,910 $0 50 $90,090 $500,000 $733,004. Subtotal $22,936,019 $876,697 $22,057,123 Total Budget Amount (lnterfund Transfer [Debt Service}, Debt Service, Purchase of Land and lnterfund Transfer (Grant) NR- No CRA Resolution R - CRA Resolution Passed S7,879,363 514,177,959 $22,057,323 Funding Source Carryover FY 2018 S25M Loan fund Balance TIF Proceeds Revenue $0 $4,249,500 $0 SO $2,450,367 50 50 $6,413,785 SO $33,582 SO $2,845,775 SO SO 54,500,000 $241,213 $0 50 590,090 $O $0. $0 $500,DeD $0 $0 $733,004 $0 6364,890 $14,346,656 57,345,776 $364,890 $14,346,656 57,345,776 S22,057,323 $6,699,867 $6,413,785 S7,379,363 $1,564,307 3 Fusading Source Description Category Approval Date Resat Amount Budgeted Amount Expended Remaining Balance Carryover Fund Balance FY20I8 TIF Revenue $2564 Loan Proceeds Other Grants and Aids 1 Grant to the Perez Art Museum of Miami Dade County for various community benefits to the redevelopment area. Art and Culture 7/25/2016 16-0039 51,000,000 $850,000 $150,000 $150,000 $0 $0 2 1401 Rest LLC - Lessor's Contribution to leasehold improvements - Grease Trap and Hood System lob Creation 6/13/2013 13-0036 $60,000 $0 $80,000 $60,000 50 SD 3 Grant to Chapman House for Facade Improvement Program Infrastructure 12/14/2016 16.0058 $60,000. S60,000 $0 $0 $O $0 4 Guitars Over Guns Art and Culture - NR $185,000 $0 $185,000 $185,000 SO SD 5 Matching funds obligation under the Florida holden Navigation District Grant for Phase 2 - Miami Woman's Club Baywaik Project - CIP Project infrastructure 3/28/2013 13-0017 $150,000 $26,214 $123,786 $123,786 $0 $0 6 Dorsey Library - Project Coat - CIP Project - Funds derived from sale of land - 14th 5t DEV IL( - $1,253,649 - CRA R- 15- 0021 infrastructure CIP Approved Project $850,000 50 $850,000 S650,000 $0 50 2017 Available for Affordable Housing (ID% of 2017 TIF Revenues} 7 Available TIF funds for Affordable Housing Projects - Original Amount 51,741,530.90 Affordable Housing 9/13/2016 16.0040 $1,041,531 50 61,041,531 51,041,531 $0 $0 8 Grant to Rebuilding Together Miami -Dade Inc. to provide partial funding for a home improvement facade and quality life program. Affordable Housing 12/14/2015 16-0061 $700,0 0 $69.642 $610,358 5610,358 $0 $0 2018 Available for Affordab e Housing (10% of 2018 TIF Revenues) 9 Available TIF funds for Affordable Housing Projects Affordable Housing 2018 Budget 16-0040 S1,632,510 $0 51,832,510 50 S1,832,516 0 10 Grant to Legido Management Services , Inc to provide funding for "Business Rehabilitation Grant Programs" Affordable Housing 12/14/2016 16-0062 6905,000 $351,471 $553,529 $553,529 $0 $0 11 Grant to Camillus House, Inc. for the "Miami Shelter Program" Quality of Life 12/14/2016 16.0059 - S175,000 $175,000 50 SO $0 50 12 2617 Miami Downtown Development Authority to expand the Downtown Enhancement Team (Purple Shirts) Quality of Life 12/14/2016 16-0057 $50,000 $4,753 S45,247 $45,247 $0 $0 13 2018 Miami Downtown Development Authority to expand the Downtown Enhancement Team (Purple shirts) 04uality of Life NR S100,000 $0 S100,060 SO $100,000 50 14 Museum Park Remediation Project 8-3053B. CEP Project funded with OMNI TIE Funds. infrastructure CIP Approved Project $175,000. $150,343 $24,657 $24,657 $0 $0 4 i5 Execute Lease Agreement with a Five (5) year initial term with two (2) one (1) year options to renew between the CRA and Revran 5 Llincoln at 175 NW 14th St. Base amount $2,850 per month with a three (3 %I percent annual Inrrea e Job Creation/ quality of life 6/21/21317 17-0033 5150,040 $5,700 5144,300 5144,300 $0 50 16 Contribution to the City of Miami - TRI Rail Project Infrastructure 6/25/2015 5/26/2016 15-0022 $3,750,000 $2,488,662 51,261,338 $1,261,338 50 $0 17 50 NW 14th Parking Lot Lining Quality of life NR $300,000 50 $300,000 $0 $360,000 S0 18 School Soard Parking Lot Enhancements Quality of Life NR $10,000 $0 $10,000 $o $10,000 $0 19 Urban Gardens Quality of Life NR $400,000 $0 $400,000 $0 $400,000 $0 20 Business improvement Grants Quality of Life NR $49,633 $0 $49,633 $0 $49,633 S0 21 130 NW 14tJt Street Rehab & Activation Quality of Life NR 5400,000 $0 $400,000 50 $400,000 $0 22 Community initiatives Quality of Llfe NR $100,000 $0 $100,000 $0 $100,000 $0 23 Affordable Housing, Real Estate Acquisition, Other Capita( Improvement Projects Affordable Housing NR $17,654,224 $0 $17,654,224 $0 50 $17,654,224 Subtotal $34093,898 54,201,785 $25,8561I3 55,049,746 $3192,143 $17,b;aj74 I _, S5,049,746 53,192,143 517,654,224 Total Budget Amount Other Grants and Aids NR - No CAA Resolution R - CRA Resolution Passed $19,198,857 $6,697,256 525,896,113 525,896,113 5 Positie Executive Director - OMNI Executive Director - Midtown (Reimbursed by Midtown CRA) Assistant Executive Director Chief Legal Officer Director of Polity and Planning Assistant to the Executive Director Community Liaison intern ($10/Hear) intern ($20/30 hours) Compensated Absences Regular Salaries Pica taxes Health/7ental/Vision knot -once OMNI CRA Staff Contingency Life and Health Insurance Retirement Contribution (401K) Executive Director Assistant Executive Director Assistant to the Executive Director Community Liaison Chief Legal Officer Director of Policy and Planning Retirement Contribution Car Allowance Executive Director - OMNI Executive Director • Midtown (Reimbursed by Midtown CRA( Chief Legal Officer Cell Phone Allowance Executive Director - OMNI Executive Director - Midtown (Reimbursed by Midtown CPA) Assistant Executive Director Chief Legal Officer Director of Policy and Planning Fringe Benefits ADP -Payroll Processing Fee (26 payroll periods X. $150) Janitorial Service / Supplies Circle Security Solutions Comcast OTIS Elevator Maintenance Service Other Contractual Services OMNI 5120,000 $2,740 $75,000 $70,000 $57,000 $43,000 $42,000 $20,800 $31,200 $13,491 $535,231 1 $40,945 I $40,9451 $48,000 $5,000 1 $48,9001 $9,600 $3,750 $2,150 $2,100 $3,500 $2,850 $23,950I $3,600 $6,000 52,400 $1,200 $2,400 $1,500 $1,200 $1,200 1 $19,5001 $3,900 59,000 $2,700 52,400 $2,000 $20,000 To include cost for travel out of the city for conferences and travel allowances. $50,000 Travel and Per Diem FPL- Fire House Miami Water and Sewer Contingency Utility Service Property Insurance/General/Liability insurance (MEC) Property Insurance/General/Liability insurance (Fire Station No 2) Workers Compensation )CRA Staff) Insurance To include the cost of food associated to CRA Meetings/Ribbon Cutting To include the cost of miscellaneous supplies. Sale Tax - 1401 Rest LLC Sale Tax - SUE / Screen Gems LTD, Inc MEC 2017 MEC Property Taxes Other Current Charges To Include supplies necessary for use in the operation of an office, such as copy Supplies 1 $30,000 $10,800 53,500 $6,000 $20,300 $71,166 $28,000 $5,000 $104,1661 $5,000 $2,000 $8,223 $0 $128,177 $193,4001 $5,000 1 $s,000 l 6 To include other supplies not office related. Ex. Misc, Project Construction and Operating Supplies $5,000 f ss,000 To include the cost of memberships to organization, Microsoft license, and $17,000 Subscription Membership Purchase of Vehicle To include the cost of new computers Machinery and Equipment $17,000 $18,000 $e,000 $24,000 To include the expenses of placing advertisements in the newspapers or other $30,000 Advertising I, $30,0001 Konica Minolta Copier $3,600 Rental and Leases I $1600I To include the cost of cramps or other related item. Distribution of newsletter Postage $2,000 To include the cost associated to any office/truck repair. $2,000 Repair / Maintenance - Outside 1 $2,0001 To include transfer of funds to the City of Miami Office of the City Clerk far lnterfund Transfer Total FY 2618 Proposed Budget • Recurrent Expenditures $17,500 I $17,500I $1,141,592 7