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Home My WebLink AboutExhibitFY 201B Prt0IPO$5U ITUOGET Bf29r2o18 OMNI TAX INCREMENT FUND BUDGET FY 2019 PROPOSED BUDGET I FY 2018 AMENDED BUDGET BUDGET VARIANCE. REVENUES CITY OF MIAMI TAX INCREMENT MIAMI DADE. COUNTY -TAX INCREMENT' (ORIGINAL BOUNDARIES) CITY OF MIAMI - TAX INCREMENT (2009 ADDITION EXPANDED BOUNDARIES) MIAMI DADE COUNTY - TAX INCREMENT (2009 ADDITION EXPANDED BOUNDARIES) '... Total'.. TIF Revenues. '619,141,991 2019 FUND BALANCE LOAN SERIES 2018 A and 201,8 B (Funds held by Bank United) TRANSFER. PROM MIDTOWN CRA (Administration) RENT INCOME • MEC OTHER INCOME - MEC (REIMBURSEMENT FOR, 2019 PROPERTY TAXES) RENT INCOME • 1401 LLC FITH'AMENDMENT TO MAX MIAMI ECONOMICIN(:ENT'IV'E AGREEMENT 2019CHILDREN '!RUST CONTRIBUTION 2019 ESTIMATED FUND BALANCE, (It ➢nc+modes the $4552,500 - Reimbvcserr enp @rormr goon Series 2018A) $1.1,525,122 $7,092,694 $386,218 $237,877 $11,659,393 $64,282 $100,000 $178,177 $101,481 $0 $769,676 $11,793,068 510,735,670 $6,249,406 $312',,667 5193,354 510,000,000 $64,282 $100,000 $177,257 $101,481 $1,537,802 $735,572 $3,555,164 $789,452 $343,288 $73,551 $44,523 $1„659,393 $0 $0 $920 $0 -51,537,802 $34,104' $8,237,904 TOTAL REVIENUE $43,907,989 $$4,262,655 $9,645,33:3 REDEVELOP ENTEXPENDITURES ACCOUNTING AND AUDIT $15,000 515,000 S0 PROFESSIONAL SERVICES - OTH,ER $457,800 5650,417 -$192,617 OTHER CONTRACTUAL SERVICES $462,660 $475,884 ,$13,224 INTERIUNDTRANSFER (Debt Service) 57,047,838 $6,699,867 $347,971, INTERFUND TRANSFER (Grant) $.1„726,104 $1,334,695 $391,409 OTFIER CURRENT CHARGE $6,734„669 $6,296,884 $437,78$ OTHER GRANTS AND AIDS 1 24 004,31.2 $15,926 0301 $8,078,282', ADMINISTRATIIVEEXPENDITUIRES 1 1 REGULAR SALARIES I $607,540 $580,231 _ $27,309 FICA TAXES $46,477' $44,388 $2,089 LIFE AND HEAU.,TFI INSURANCE $48,000 $48,000 $0 RETIREMENT' CONTRIBUTION $2',6,200 $26,200 $0 FRINGE BENEFITS $54,500 $19,500 535,000 OTHER CONTRACTUAL SERVICE $20,000 $20,000 $0 FRAVEL AND PER DIEM $30,000 $30,000 $0 COMMUNICATIONS $0 50 50 U'TILlTYSERVICE $20,300 $20,300 $0' INSURANCE 5104,166' 5104,166 $0'' OTHER CURRENT" CHARGE $185,177 $1.93,400 58',223 SUPPLIES $5,000 55,000 S0 OPERATING SUPPLIES $5,000, $5,000 $0 SUBSCRIPTION MEMBERSHIP $17,000' $17,000 S0 MACHINERY AND EQUIPMENT $24,000 $24„000 $0 ADVERTISING $30,000 $30,000 $0 RENTAL AND LEASES $3,600 $3,600 $0 POSTAGE $2,000'' $2,000 $0 REPAIR/MAINTENANCE . OUTSIDE $2,000 '... $2,000 50 INTERFLIND TRANSFER $18,0 $17,500 'Mai NMMnWroWni 0.t+n401r',tn $1,1111y900 RESERVE FOR, MIDTOWN ADM EXPENDITURES 564,282 $64,282 $0 RESERVE TOR, SECURITY DEPOSIT - MEC $125,000 $125,000 $0. RESERVE FOR SECURITY DEPOSIT • 1401 GROUP LLC $4.0,000 $40,000 $0 RESERVE FOR CAPITAL EXPENDITURES 51,089„165 $685,113 $404,052 RESERVE FOR, PAYMENT OF PROPERTY "'TAXES • MEC $1.77,257' $177,257 50 RESERVE FOR LOAN PROCEEDS SERIES 2019 A & 8 547,500 50 $47,500 RESERVE FOR UNSOLICITATED PROPOSALS $50,000 50 $50,000 BUDGET RESERVE 5627,442 $579,942 $37,500 TOTAL FUND OAEANCE $43,907,989 $34,262„6S5 $9,645,333 The Ayers relspect to a4fltseedrV Pork under the I3Iobot lnrerl'arcuMyra Agency, The InterhstaIAgreement CNbl4gya1lans Include the amounts payab such other amount as shall be detrrrralned Dy rIs rRsoletian ofsc orltainal terms of the Global lnlerlacnl Agreement with respect to Museum Pork) A) B) C) 2019 TIE Revenue 2019 TIF Rev for Affordable Housing % 2019 Budget for Affordable Housing 2019 T1F Revenue 2019 Administrative Expenditures % Administrative Exp / 2019 TIF Revenue 2019 Budget Reserve Total 2019 Budget % 2019 Budget Reserve / Total 2019 Budge Se SO 50 sub'ecr of ongoing di cession between he City and the he artgioaf terms of the Gibbol interfaca,Ag eemenr and/or in shall exceed the amounts payable under the $19,241,911 $1,924,191 10% $19,241,911 $617,442 $43,907,985 1.41'% ounting Amount Budgeted Funding Source Descrip on and Audit Category(ategory Approval Date Reso 0 Amount Expended Remaining Balance Carryover Fund Balance FY 2019 TIF -Roan ite- 201.0 ExternatExternal Auditing Services to the OMNII CRA i Sanson, Kline, lacominot landor & Garrafra, LLP Adohnistration , i 2 16.0038. 515,000 $1S,000 50 0000, Profeton&Srvk 2 • Other Financial Support Consultant JulAdministration 2017dul 2018 12/1lf201E 16-0064 42, AO SO $42,800 .11 SO S42,000 Other 2010 Omni Redevelopment Plan FON ran-d-irTg: Webbte, PR Rec1crprrrnI I NR Planning $S0000 $70,000 50 25 , 570,000 . 50 5LT $2000420 ......._ 570,000 $60,000 525,000 Administration Nit Redevelopment NR Planning QuickbuildiPretected elke I. ones $60,000 535,000 50 50 6 , 535,000,000 Traffic Study/Design-Pi/ Miami Ave & lilth Street Redevelopment NR Planning Con1r8tuI Services i 7 9 10 i - - _.,..._ Horsepower Street tight Maintenance 20113.2019 Quefltp ul Life Per Citits Procurement Code 525,000 50 525,000 50 'Available for Landscaping Serirrce 2(118-2019 Qulrty of Life Per City' Procurement Code 525,4200 $50,000 50 50 $25,000 550,000 $ 50 $25,000 550,000 2018 Urban Tem,Porary Park • Maintenance and Securlty Administration Assigned FOnds tor the Genre) Mtlntenence CRA Consultants lAkertnan LLP, 'Frank Schnidman andDoug, litute.1,_ Administration MR 5150,000 550,000 $100,000 5262,660 SO 50 5100,000 -...--. 5262,660 $R,31,46 ,Available for Other Contractual Services Administration NR 5295,601 1,018,401 $32,941 ----,---_ Subtotol $02,941 ....._ __$93§,460 __P) 50 $935,460 Total Budget Amount (Proles.slonal Services - legal, Accountin,g and Audit, Professional Services - Other and Other Contractual NR - No CRA ResoluiionfAssigend Funds R CRA Resolution Passed / Assigned Funds $77/,660 $157,6,00 $935,460 $935,460 $15,000 $457,800 $462,660 Description laterlund Transferlabt ServIc,e) 2019 Transfer Out to the City Debt Service of Miami for the payment of the Port of Miami Tunnel Series 2012 n virth BankUnited Estdrnated principal al1104jAlt $25M Category Approval Dale Reso Amount Budgeted Debt Service uuent Char es and 0§1Igat ons 019 Estimated Payment !Infrastructure Inleal Agreement), Performing Aft Center rant) -2016 Poking Services Quality al Life ot Miani Grant to the City of Duality al Lk Miami Police Department for the Expanded Police Program 019 Grant to the (Ay of Quality of tife arni Police Department far he Expanded Police Program 2019 Children Trost Quiilrty of tile Contribution Subtotal Dec 07 2007 Global 54,239,000 Agreement Debt Service 52,913,838 2007 Global 56,734,669 Agreement Dec,07 $710,000 intertocal $769,676 Agreemen Funding Source Amount r6emaIntrig Carryover FY 2019 Reimbursement Expended Balance f end Balance 1IF from Loan Series Revenue 20186 $9,651.500 S619„211 $6,734,669 90,70 134361 $ 50 5907,000 50 $76 ,6 7 $753,572 Total Budget Amount (Inter lund transfer 'Debt Service), Debt Service, Purchase of Land and Interfund transfer (Grant) MR - No CRA Resolution/Assigend Funds R CRA Resolution Passed 5500000 $15,008,011 $15,508,811, 5,63 50 54234,00 50 57813,, $90,789 5355,639 5769,676 1,216,104 2 4 $6,714,669 50 $0 $500,0(701 50 $0 $13,782,506 $ 500 ,00-01 $13,782,506 $5_0.1qpg_ 7,047,838 6,734,669 $1,726,104 Fund Source Description Category Approval Date Reso 8 Amoui1 Budge ed Amount Expended Rernain ng Balance Carryover Fund Balance FY 2019 TIF Revenue Loan Series 2018 A 8. 8. 83e1mbwaemant horn Loan Series 20186 - $4,552,500 Other Grants and Alds 1401 Rest 1.1.C- Lessor's Contribution to leasehold improvements - Grease Trap and Hood System lob Creation 6/13/2013 13-00 6 $60,000 50 560,000 560,000 $0 2 Matching funds obligation under the Florida InIclan Navigation District Grant for Phase 2 - Miami Woman's Club Baywaik Project - CIP ro'ect infrastructure 3/28/2013 13-0017 5150000 926,234 5 2 ,786 5123,786 50 $0 50 3 Dorsey Library - Project Coal - OP Project . Funds derived from sale of land - 14th St OEV ITC - 1,253„649 -CRA-R -15, 21 tnfrastruclure CIP Approved Project $850,000 5352,722 5692,278 5646,485 $50,793 $0 50 6 Corner LLCAffordable Housing Projects Affordable Housing 1/17/2018 12/14/2016 10-0008 16-0063 53,1300,030 _ 5700000 $2 „OW 502,117 $1,5.00,000 - 5197,683 $ ,500,000 $197,883 $0 50 50 - 50 50 - - rant to Rebuilding Together Miami -Dade Inc. to provide partial funding for a home improvement facade and quality Me program. Affordable Housing • 2018 Grant to Rebuilding Together Miami -Dade Inc. to provide, partie0 funding, for a home improvement facade and quality life program. Affordable Housing 1/17/2018 18.0028 5600,000 50 5600,000 $600,000 50 $0 $0 50 $0 $0 $0 50 $0 ----- 50 50 8 10 Carryover of ensued funds for Affordable Housing Projects Rehabilitation, 0094 of TIF Revenue) (Irant to legido Management Services , Inc to provide funding for 'Business Rehabilitation Grant Programs" Affordable Housing Affordable Housing CluulItyol Life 12/14/2016 12/14/2016 18-0040 $503,744 50 $800,386 527,855 5503744 , 9503,744 $104,614 522,145 16,0062 -0057 5505,000 950,000 5104,614 522,145 2017 Miami Downtown Development Authority to expand the Downtown Enhancement Team Worple Shirts) 50 11 7018 Miami Downtown Development Authority to expand the Downtown Enhancement Team (Purple sirmnn) quiilily of Life 1/17/2018 8.0007 NR 5100,000 5100,000 511,234 $0 586,766 5100,000 $86,766 50 YO 50 50 12 2019 Miami Downtown velopment Authority to expand the Downtown Enhancement Team (Purple Shirts) Quulily of Life $100„000 50 50 13 018 Available for Business In,provemenls and Alstancn Grant Program lob Creation / Quality or Life 4 19 201 6/21/2017 180023 5500000 $0 $500,000 5500,000 50 50 50 Museum Park Rernediation Project 8-30538, CIP Project funded wl4h OMNI TIF lnlruttructure 17-0022 $175,0 0 9150,000 51511,341 546,712 524,657 5103,288 $24,657 5103,288$0 $0 ..-_- 50 „,_ 50 50 50 Execute Lease Agreement with a Five (5) year initial term with two (2) one (I) year options to renew between the CRA and Revran 5 LIrncoln at 175 NW 141153 , Base amount 2,850 per month with .3 three (3 %( percent annual lob Creation / Quality of life 17-0033 Description ther rants and Aids 6 Contribution to the City of —infrastructure Miami - 191 Rail Project 17 ,Doen Space Initiative Quality of Life Category Approval Date 30 NW 1411, 571reel Rehab Activation (Morgans) 19 Str;etscape17npro—verrent CluaiIt o Lie 20 2019 Reserve for Affordable Infrastructure Workforce Housing 110% of 2019 Total TIF $19,241,910) 22 Reserve for Renovation of infrastructure Bank Building (Loan Sere 2018 Ai 22 Reserve for Affordable Affordable Housing Projects Roan Housing Series 2018 8) 3 2019 Business Improvement and Assistance Grant Program 24 2019 Rebuilding Together Residential Rehab Program iobCreati;Ti Quatity of Life loh Creation / Quality of Life 5 2019 Camillus House Miami Quality of life Shelter Program 6 Huildlng 6ehab,11qtoric Historic reservation , Capital Preservation rupravernent Pi ojects 7 At I -fordable Housing Affordable Development and Housing Acquisition ^^^^^^^^ Subrotai Total Budget Amount Other Grants and Alds NR • No CRA Flesolidlon/Assigend Funds R CRA Resolution Passed Reso 8 6/25/2015 !150022 5/26/2016 NR 1114027 NR Amount Amount Remaining Compver Budgeted Upended Balance Fund Balance Fundln Sourn FY 200 1,080 Series Reimbursement 111 2018 from Loon Revenue A & 6 Series 2018A $4,552,500 53,750000 53143,433 5,567 5603567 5700,000 $0 $700,0 5400020 50 5400,000 5400,000 1„300,000 50 51,300000 $ =0040 11-0020 NR NR NR NR NR NR 51,924,191 SO 51,924,191 50 $4,322,500 $500,00 5500„000 $175,000 5015,000 5800,000 0 S4,32,300 SO 50 50 31,16432 7,163O2 $13,026,893 $10,977,419 $24,004,312 57,336,89 5 ,000 $175,000 5815,0 $800,000 50 50 13,224,3 5,61' 5,479,935 so "1650 50 SO SO 50 $0 50 SO 1ifl4,984 1,65 0 5000,000 7,336,893 SO $500,000 5500,000 $175,000 50 $3,274,984 111,659,393 $24,004,312. joj 5 Position Executive Director r OMNI Executive Director Midtown fReimbursed by Prildtowo CRAP Assistant Executive Director Chief Legal Officer Assistant to lire Chief Legal Officer Olrectot of Policy and Planning Assistant to the Executive OlfeClOr Inter ($10/Hoor) 1099 Employee 1099 Employee Compensated, Absences Regular Salaries Flea taxes OMNI I 5120,000 $2,740 590,000 590,000 542,000 $60,000 $50,000 $10,400 $31,200 $31,200 580000 $607,5401 546,477 I $46,4'771 Health/Dentoi/Vision insurance OMNI CRA Staff 548,000 Contingency $5,000 Life and Health Insurance I $48,000 I Retirement Contribution (401K) Executive Director Assistant Executive Director Assistant 10 the Executive Director Chief Legal Officer Director of Policy and Planning Assistant to the Chief Legal Office; Retirement Contribution Car Allowance Executive Director OMNI Executive Director - Midtown (Reimbursed by Midtown (KA) Chief Legal Officer Cell Phone Allowance Executive Director OMNI Executive Director i Midtown (Reimbursed by Midtown CRA) Assistant Executive Director Chief Legal Officer Director of Policy and Planning Employer provided educational assistance Fringe Rene -Its ADP Payroll Processing lee (26 payroll periods X $150) Janitorial Service / Supplies Cade Security Solutions Conicast ()DS Elevator Maintenance Service Other Contractual Services To include cost for travel out of e city for conferences and travel allowances Traver and Per Plena 59,500 54,500 $2,500 $4,500 53,000 $2,100 r $26,2001 53,600 56,000 $2,400 51,200 $2,400 $1,500 51,200 51,200 35 000 ,500 53,900 59,900 $2,700 $2,400 $2,000 $20,000 FPL r Fire House $10,800 Miami Water arKi Sewer $3,500 Contingency 55,000 Utility Service [_520,300 Property Insurance/General/Liability Insurance, IMEC) Property Insurance/Generar/Liability Insurance (Eire Station No 2) Workers Compensation ICRA Staff) insurance To include the cost of food associated to ERA Meetings/Ribbon Cutting To include the cost of miscellaneous supplies. 2019 MEC Property Taxes (Estimated) Other Current Charges to include supplies necessary for use in the operation of an office, such as copy Supplies To include other sepoiles not office related. Ea. Mist Preect Construction and Operating Supplies 571,166 528,000 $000 52,000 5178,177 I $185,1771 :55,000 To include the cost of memberships to organization, Microsoft license, and $17,000 Subscription Membership F $17,000 I Purchase of Vehicle $19,000 To include tire cost of new computers $6,000 Machinery and Equipment I $24,000 To include the expenses of placing advertisements in the newspapers or othei Advertising L1&99 Konica Minolta Copier Rental and Leases To include the cost of stamps or other related Item Distribution of newsletter Postage To include the cost associated to any office/truck repair, Repair / Maintenance - Outside o include, transfer of funds to the. City ol Miami Office of the CityClerk for interfund Transfer Total FT 2019 Administrative Budget __$3„.600, 6001 $2,000 $4000 '7