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HomeMy WebLinkAboutBack-Up Documents2018-2019 Wynwood Business Improvement District Budget: INCOME: INCOME: Approved FY'18 Income 10.1 to Projected Total Projected Proposed FY'19 Comments: Budget: 6.30.18: Income 7.1.18 to 2018 Income: Buduet: 9.30.18: BID Assessments: $ 764,206 $ 555,701 $ 238,674 $ 794,375 $ 765,200 FY' 19 The expected collections is 95% of to the amount billed and is based on current rates net of 3 % in regards to discounts and penalties ($820K will be billed in f Y 19 -$24K net discounts/penalties) X 95% expected collections. FY' 18: Wynwood BID expects to collect $794,375 at conclusion of fiscal year. Deterred Collections: $ 45,000 $ 19,294 2�FY' $ _,890 $ 42,184 $ 55,000 I9: Based on previous trends, the BID expects to collect next fiscal year: $25,000 from the fiscal year 2017 (Oaf to -Sep/ 17), $10,000 from IY'16 (Oct/15-Sep/17), $5K from FY'15 (Oct/14-Sepit5), & $5K from FY'14 (Jan/14-Sep/14) Restricted - Parking Waivers: $ 54,000 $ $ 637,200 $ 637,200 r r $ 60I,)60 FY' 19: BID expects $156,000 for 13 waivers for 239 NW 28 St. BID also expects (75) waiver spaces for the Bradley totaling $700,000, thus totaling $856,000, less 10% equals $770,400. In FY' 18 the BID collected $84,000 for (7) spaces at 160 NW 26 St. and $624,000 for (52) spaces for 219 NW 24 St. totaling $708,000„ less 10% equals $637,200. Budgeted Parking Waiver fees reflect net of 10% contribution to the Parking Waiver Trust fund as required by City Ordinance 13556. In FY'19 the BID will use the collected waiver totals of $609,960 to fund projects, outlined in the new parking waiver trust fund expenditure plan, as per ordinance requirements. Parking waiver uses are restricted in nature. Public Benefit "Crust: - $ - $ 656,353 $ 656,353 $ - FY' 19: Please note there are still projects pending 545 WYN WD (Sterling Bay), Wynwood Gateway (Aron Rosenberg), 2200 Garage (Red Sky Capital), 2700 Office (Red Sky Capital), totaling $1,500,000, which equates to $975,000 for the BID once the 35% is taken by City of Miami, if projects move forward. FY'18: The Wynwood BID expects to collect $43I,410.tar Wynwood 25 contribution for 31,582 sq. ft, $490,01 1 for 35,872 sq. ft at Wynwood 25 and 88,352.88 for 6,468 sq. ft. for Wynwood 25 Annex. The total projected Wynwood BID income is $656,353. The intent of "NRD-1 Public Benefits Trust Fund" be established in order to collect cash contributions made according to the NRD-1 as established in the Miami 21 Code, as amended, the zoning ordinance of the city, to support reinvestment and supplement affordable/workforce housing, public parks and open space, and civic space or civil support space within the NRD-I boundaries. A maximum of up to 35% of funds in the NRD- I Public benefits trust fund shall be allocated towards affordable/workforce housing on an annual basis, and shall be expended pursuant to guidelines and procedures established by the City of Miami which equals, up to $353,420. Total Income: $ 863,206 $ 574,905 $ 1,555,117 $ 2,130,112 $ 1,430,160 EXPENSES: H:XPN:NSES: .Approved EY'18 Expenses 10.1 to Projected 'Fetal Projected Proposed FY'19 Comments: Budtet: 6.30.18: Expenses 7.1.18 2018 Expenses: 13utiaet: to 9.30.18: Streetscape: $ $ - $ - $ - $ - FY' 19 - The BID budgeted $15,000 for touch ups of rubber mulching installed along NW 2 Ave & new install on N. Miami Ave, item moved to capital. FY'18: The Wynwood BID accrued $20,000 for rubber mulching along NW 2nd Ave from NW 22 St. to NW 20 St. to assist fixing pedestrians tripping on sidewalk. This expense will not be reflected in year end financials for FY'18 but reflected in form. Security: $ 194,948 $ 132,792 $ 20,000 $ 152,792 $ 68 040 FY'19 - Wynwood BID will move forward with the contracting of(4) ambassadors via piggybacking of other City of Miami agreement totaling $150,000 per year. FY'18: The previous off duty arrangement called for 162 hours of City of Miami Police coverage per week that had decreased from 250 hours week the year before. Decrease is attributed to the cancellation of off -duty police services on April 22, 2018. The Wynwood BID has spent over $800,000 ill off duty police since the BID's inception. Sanitation: $ 113,440 $ 124,982 $ 43,078 $ 168,060 $ (82 160 FY' 19 - Wynwood BID increased cleaning services hours (233) for 50 block District since we are the only entity responsible for cleaning the pubic right of ways in 50 block District on behalf of the City of Miami. We have (6) clean team personnel services consist of approx. 233 weekly hours, 7 days a week. FY'18 - Clean Team is expected to have (2) full time employees shifted to G&A budget via new cleaning contractor schedule. Marketing & Advertising: $ 158,000 110,613 $ 61,483 $ 172,096 $ 190,000 FY' 19: Increase iu fundin for FY' 19 for additional BID events and Tourism initiatives. FY' 18: Expenditures e nditures are over budget due to the g $15,000 settlement agreement that was unexpected in fiscal year. G & A: $ 385,200 $ 221,135 $ 107,166 $ 328,301 $ 377,500 FY' 19: Decrease in totals from previous year are due to the cancellation of contracted office personnel, now that we have hired two full-time employees in 2017-2018. The BID is expected to have full staff, thus health insurance and FICA taxes are expected to be higher than previous year. Please note that rent went from $1,900 per month to $4,900 in 2017 2018. FY' I8: The BID hired a project coordinator on January 16th, 2018 and hired a Marketing Coordinator April 2018, thus a surplus of $39,000 due to hiring date relative to the fiscal year. Contractor admin assistant services were cancelled November 2018, also leaving a surplus of $9,000. Capital Expenses: $ 1 1,618 $ 26,600 $ - $ 26,600 $ 612,460 FY' 19: Wynwood BID has identified various high priority uy projects to coincide with parking trust fund expenditure plan, as per ordinance requirements. Please note that $609,960 of$612,460 are restricted in nature. FY'18: Wynwood BID purchased new furniture for new office and did not move forward with the antenna installation. Total Expenses: $ 863,206 $ 616,122 $ 231,727 $ 847,840 $ 1,430,160 NET OPERATING INCOME: At the conclusion of 2017-2018 there will be a total of $1 293,553 left over. consisting of $656, 353 in Public Benefit h rust Funds and $637,200 in Parking (lust finds, both restricted in nature. Wynwood BID will use funds collected to fulfill Wynwood Parking - rust Fund Total: $ - $ (41,127) $ 1,323,390 $ 1,282,263 $ - expenditure plan. as per ordinance requirements. $656,353 in Public Benefit dollars will be used once the City of :Miami Committee. consisting of Commissioner's representatives from District II and District V, in addition to members of the Wynwood BID are created to oversee expenditures. Wynwood Business Improvement District General & Administration Budget 2018-2019 Expense Approved FY'18 Budget: Projected Expenses 10/1/17 to 6/30/18: Projected Expenses 7/1/18 to 9/30/18: Total Projected 2018 Expenses: Proposed FY'19 Budget: Comments: BID Executive Director $ 116,500 $ 80,385 5 36,615 $ 117,000 $ 117,000 FY'19: Manny Gonzalez, Executive Director was hired May 15, 2017 w/ an employment package totals $104,500, which consists of 104,500 salary and $6,000 Car/phone Allowance. As of July II, 2018 annual evaluation the F.D. is making $ I I7K which is made up $1 1 1 K salary & 6K allowance. Marketing Development Director $ 60,000 $ - $ 24,000 $ 24,000 $ 55,000 FY'19: Marketing Director reflects increase in salary from $50K to $55K at conclusion of first year. Please note that Marketing Coordinator began on April 30, 2018, thus why we are under budget. FY'19: Marketing Director/Business Development position began on April 30th, 2018 and currently makes $50K per year. Project Coordinator $ 40,000 $ 17,500 $ 10,769 $ 28,269 $ 40,000 FY' 19: Project coordinator currently makes S35,000 annually and reflects increase for new fiscal year at $40,000 annually. FY'18: New project coordinator began on January 16, 2018 and is currently making $35,000 annually. The Wynwood BID created a projects coordinator position was requested by the Board of Director's at the August 14, 2017 BID. ContractodProfessional Services $ 20,000 $ 9,064 $ - $ 9,064 $ 2,000 EY'19: budgeted totals w111 be for Inlel'nJhlp opportunities at the BID office FY'18 Professional Services assistance, Gaby Maury works 32 hours weekly at $ 10.00 p/h. $310 weekly. Gabriela resigned November 2018 and the position was not filled since. Payroll Taxes, FICA $ 10,500 $ 12,693 $ 4,533 $ 17,226 $ I5,000 FY'19 - the average payroll taxes per month are $786 per month, based on (3) full time employees. FY'18 - the budget forecasted reflects the total of the previous year. Health Insurance $ 5,800 $ 2,221 $ 3,200 $ 5,421 $ 12,500 FY' I9: Exec Director FY'18 - Executive Director had only denial/vision insurance until Jan 2018 totaling $67.00 per month. Full healthcare was obtained totaling $415 per month since Feb 2018, now totaling $2,490 at conclusion of year. Licenses Fees & Dues $ 7,000 $ 6,078 $ 1,600 $ 7,678 $ 6,000 Annual Registration, annual dues Office Utilities $ 2,400 $ 3,234 $ 2,430 $ 5,664 $ 6,000 FY' I9: Conuast monthly services total $225 per month ($2,700 yearly) , FPL is $200 monthly ($2,400 yearly), Crystal Springs water $300 yearly. BID now has to pay $200 a month of FPL in new office, since moving May 2018, we did not have to pay electricity at prior location. FY'18: Cornetist monthly services total $172 per month, Crystal Springs water $300. Office Equipment & Su lies Supplies $ 5,000 $ 4,390 $ 1,500 $ 5,890 $ 5,000 FY' 19: Line item is for Office Depot orders, monthly printing fees and othergeneral office supplies. FY'18 - I Y 4 b supplies. Budget increase reflects needs for efficient office operations, new office copier was leased for efficient operations. Office Rent $ 58,000 $ 33,094 $ 9,664 $ 42,758 $ 58,000 FY'19 - Office rent was $1,966 per month until April 30th, 2018 and changed to $4,8 32 as of May 1st, 2018 when we moved into the new office. FY'19 - The rent will be $4,832 for fiscal year. Office/D&O Insurance $ 12,000 $ 14,919 $ $ 14,919 $ 12,500 FY'19 - insurance Liability Monthly Premium increased from $765 to $923 in FY'18: Wynwood BID renewed policy in January 2018 and paid the entire year upfront versus monthly. Bookkeeping $ 36,000 $ 27,000 $ 12,000 $ 39,000 $ 36,000 FY' 19: Based on Agreement in place through 2017-2018. Monthly costs associated with assessment collection, auditing preparation & bookkeeping services at $3,000 monthly. Meeting Spaces/Retreat $ 2,000 $ 1,557 $ 355 $ 1,912 $ 2,000 FY'19: BID plans to facilitate same annual retreat as 2017-2018. FY'18: Wynwood BID facilitated annual retreat with City of Miami Director's at the Sonesta Hotel totaling $1,600. Annual Audit $ I0,000 $ 9,000 $ 500 $ 9,500 $ 10,500 FY'19 - Annual audit is about $9,000 per year. The required sub-sequent audit is about $500. Total: $ 385,200 $ 221,135 $ 107,166 $ 328,301 $ 377,500 Wynwood Business Improvement District Streetscape Budget 2018-2019 Expense: Approved FY'18 Budget: Projected Expenses 10/1/17 to 6/30/18: Projected Expenses 7/1/18 to 9/30/18: Total Projected 2018 Expenses: Proposed FY'19 Budget: Comments: Mulching & Weeding $ FY'19 Moved to Capital budget due to allowable use. This initiative was for the installation of rubber mulch within the pubic right of way tree beds to avoid trip and fall incidents that are occurring due to the heavy number of pedestrians in our narrow sidewalks. Pressure Cleaning Initiative $ - $ - $ - $ - Discontinued for FY'19. Total: $ - $ _ $ - $ - $ - Wynwood Business Improvement District Marketing and Advertising Budget 2018-2019 Expense: Approved FY'18 Budget: Projected Projected Total Proposed Comments: Expenses Expenses Projected FY'19 Budget: 10/1/l7 to 7/1/18 to 2018 6/30/18: 9/30/18: Expenses: PR Agency Agreement/Social Media/Website $ 70,000 $ 54,695 $ 27,108 $ 81,803 $ 70,000 FY'19 - Wynwood 131L) will procure I'R services y 1 in new fiscal year via RF FY'f 8 - hivvit PR agency charges $5,000 per month, www.wynwoodmiami.com was created and released during this fiscal year. l'Y' 18 - Wynwood BID is currently charged $5,000 per month on average, not counting, special projects like annual report and tax analysis document creation. Marketing hritiatives/Promotional Materials $ 75,000 $ 21,929 $ 7,500 $ 29,429 $ 30,000 FY-19: Please note that banner initiative has been given its own line item below. FY'18 - The BID installed large 60 ft. banners on 29 St. $5,477 and installation during AlrBasel totaling $6,06.. the W nwood BID will y begin tracking the annual costs associated with our banner and 'lag initiatives throughout the District in 2018- 2019. 1'hc Wynwood BID uses AAA to facilitate the installation of banners throughout the District. 'tourism 1'ravel, Co- Op Advertisements $ 10,000 $ 5,763 $ 3,000 $ 8,763 $ 25,000 FY'19: Digital and print advertisement funds for FY'19. FY'18: Wynwood 1311) placed adds iu Miami Today totaling $2,574 twice dining Basel and Wynwood Neighborhood profile week. BID Events - PNO $ - $ 7,301 $ - $ 7,301 $ 20,000 1'Y' 19: Fashion Night Out is expected to come back again November 2018. P1'18: Fashion Night Out was held in November 2017 and consisted of Fashion Show and Advertisement initiatives centered around 1311) members. l'urkey Give Away with Commissioner I:dm n dson totaled $1,000. Website Maintenance/Ilosting $ $ 4,250 $ 2,550 $ 6,800 $ 5 000 FY'19: New website www.wynwoodmiami.con] has a monthly hosting charge of $75.00 per month, $900 per year. Monthly email costs are $125.00 monthly via Rackspace, $1,500 per year.. Wynwood Market Report - NEW $ $ - $ 20,000 $ 20,000 $ 15,000 FY'19: Funding is for re -certification of Market report that was initiated in 2018, similar to DDA report that is published yearly for their district. FY'18: The Wynwood BID Board agreed to approve Market report totaling $20,000. Wynwood Ballet Event $ $ $ $ $ 10,000 New initiative that was approved at the June 10, 2018 Finance Committee meeting. This ballet show was created and mirrored after visit to Wynwood. Copyright Settlement - NEW $ $ 15,000 $ 15,000 $ - I Y 19: No copyright Settlement is expected in next fiscal year. I l' 18: The Wynwood 1311) settled a copyright infringement case with the assistance of the City of Miami Attomcy's of (ice and agreed to a one-time 815,000 settlement. Photographer Services $ 3,000 $ 1,675 $ 1,325 $ 3,000 $ 15,000 FY'19: General Photography services. The 131D hopes to engage a photographer that will come out weekly to obtain images for website and other BID collateral. FY'18: $1,700 was used for (3) day Art Basel shoot coordinated by the BID. Total: $ 158,000 $ 110,613 $ 61,483 $ 172,096 $ 190,000 Wynwood Business Improvement District Clean Team Budget 2018-2019 Expense: Approved FY'18 Budget: Projected Expenses 10/1/17 to 6/30/18: Projected Expenses 7/1/18 to 9/30/18: Total Projected 2018 Expenses: Proposed FY'19 Budget: Comments: Sanitation Contractors $ 75,397 $ 68,000 $ 24,000 $ 92,000 $ 98,000 FY'19: The contracted (6) person clean team crew currently work 153 total hours, which equates to $1,713 per week, $89,076 per year, and our (2) clean team supervisors work an additional (40) hours each and make $584 and $387 weekly, thus totaling 233 weekly hours. included in a proposed increase of $7,956, which equates to a $1.00 raise for (6) team member staff, some whom had not had a raise in several years. Cleaners are responsible for the cleaning of the District boundaries that consist of 50 blocks. Wynwood BID ZIKA Mosquito Abatement Initiative: NEW $ $ 4,000 $ $ 4,000 $ 4 000 FY'19: BID will continue to purchase material and glue in order to monitor traps for BID members, similar to last year, in addition to monitoring traps every Friday for participating BID members. FY'18: The Wynwood BID entered into a partnership with AP&G, which called for 100 donated mosquito traps to be distributed to BID members via the BID office and monitored by trained clean team stafffor a total of 17 weeks. Clean Team Supervisor - NEW $ 38,043 $ 28,836 $ 9,858 $ 38,694 $ 41,580 FY' 19: Clean team supervisor makes $18.67 hourly, $747 weekly and 38,043 yearly. There is a $1.110 raise represented in increase for 2018-2019. FY' 1 8: Please note that Clean Team supervisors and co supervisor were transferred from G&A budii:et in 2018. FY'17: Clean Team supervisor snakes $16.67 per hour, $667 weekly and $34,647 yearly. Clean Team Assistant - NEW $ $ 18,240 $ 6,720 $ 24,960 $ 27,080 FY'19: Clean Team assistant makes $480 weekly and 25,1)00 annually, this assistant supervisor position was unbudgcted and approved in April 21)17 by previous administration. "There is a $1 00 raise represented in inerwse for 2018-2019. Please note that Clean Team supervisors and co -supervisor were transferred from G&A budget in 21118 Sanitation Supplies (including uniforms) $ - $ 5,906 $ 2,500 $ 8,406 $ 11,500 FY' 19: Wynwood BID will pay for new uniforms for clean team staff in order to bring them up to compliance. FY'18: BID supplies are being purchased by BID office but will be handed off once contracted provider signs off in July 2018. Total: $ 113,440 $ 124,982 $ 43,078 $ 168,060 $ 182,160 VVY OOP Wynwood Business Improvement District Security Budget 2018-2019 Expense: Approved FY'18 Budget: Projected Expenses 10/1/17 to 6/30/ 18: Projected Expenses 7/1/18 to 9/30/ 1 8: Total Projected 2018 Expenses: Proposed FY'19 Budget: Comments: Police Off -Duty Services/Block By Block Ambassador Services $ 158,168 $ 132,792 $ - $ 132,792 $ - FY' 19: The Wynwood BID does not expect to re -start the off duty program that was cancelled April 22, 2018, which represents a savings of $ I4,000 a month. FY'18: Off Duty Police to work about 96 hours weekly, $3,041 weekly, taking into account the raises that took effect. On April 22, 2018 the Wynwood BID cancelled the off -duty police program after consulting with City of Miami PD and Chief. Hospitality Ambassador Program: $ 36,780 $ $ 20,000 $ 20,000 $ 68,040 Approved at July 11, 2018 Board of Director's meeting for the funding of hospitality ambassadors to interact with thepublic andprovide maps, directions, parking options p P b P and way finding services for visitors of the area. We suffer from a high number of visitors in the area that are always lost due to not being familiar with the area. Total: $ 194,948 $ 132,792 $ 20,000 $ 152,792 $ 68,040 4, Wynwood Business Improvement District Capital Budget 2018-2019 Expense: Approved FV 18 Budget: Projected Expenses 10/1/17 to 6/30/18: Projected Expenses 7/1/18 to 9/30/18: 'Total Projected 2018 Expenses: Proposed F1'19 Budget: Comments: Neighborhood SignageiWayfinding: $ _ $ _ $ 5,000 FY' (9: Wynwood waylnding and signor e study l r the Wynwood BID District that consists of (50) blocks betor actual ignagexpenditures are sought. 'het is need for parking and general directions in the neighborhood due to the large number of international visitors to the area. Traffic Study - NEW $ - $ - $ - $ - $ 25,000 The Wynwood BID approved the tacilitat ion of a traffic study to obtain detailed totals of vehicles traversing the District. Wynwood suffers from an overload of vehicular activity and the Board warns to proactively address potential issues before the next wave of residents coming to the area. Wynerf NW 3 Ave Initiative: $ _ $ _ $ _ $ - $ - This is a City of Miami and Wynwood BID partnership project that is currently in the design phase. The project encompasses NW 3rd Avenue front NW 25 St, to NW 2)St. Wynwood BID Parking Study & Associated Parking$ Initiatives' _ $ _ $ - $ - $ 125,000Pr the Wynwood BID has approved funding for a parking study to evaluate theinventory of the District, recommend parking trust fund pricing, and funding for b P g b facilitation of recommended action items from report. Road Impact Fee Study: $ $ $ $ $ 25 000 Requested at Finance Meeting on July 10, 2018 for the study of road impact fees that are assessed by Miami Dade County. Wynwood is checking to s , if our status as a development zone can off set some of the expenses we are feeling when it coins to road impact dues, License Plate Reader camera initiative: - $ - $ - $ - $ 157,000 "he Wynwood BID met with City of Miami Police provider in Mach 2018 about the possibility of piggybacking on current agreement and installing cameras within the District. Police contractor is Cintas. Project will encompass cameras with pedestrian counting software and license plate readers. City of Miami Police will maintain use of program moving forward. Office Furniture -Equipment: $ 6,b I8 $ 6,600 $ - $ 6,600 $ 2-500 As of May 1, 2018 the Wynwood BID moved into new office located at 2751 North Miami Ave and purchased conference rence room table. I 1 conference room chairs, two computers and (5) desks, to allow to flex sealing (2) and (3) staff desks. City of Miami Streetscape Project Contribution: $ - $ - $ - $ - $ 50,000 The Wynwood BID agreed to donate $50,000 towards the City of Miami Master Planning Initiative at the January 10, 201 S BID Board Meeting The City of Mlani Planning Department is spearheading the initiative with Arquitectonica to plan the installation of trees within the District in addition to a tree palette. Quick Build Program with Miami Dade Count Y: $ - $ - $ - $ - $ I5,000 FY' 19. The Wynwood BID agreed to partner with the Bicycle Collaborative and Miami Dade County for matching funds associated with this initiative for NW 3 St. in FY' I8 but the roll out will not happen until November 2019. Pedestrian Counter Technolo by $ - $ - $ - $ - $ 30,000 Approved initiative to allow the meshing of pedestrian monitoring technology for installation with the new cameras and license plate readers in 2018-2019 Transit Study Initiative: $ $ _ $ _ $ _ $ 25.000 initiative that began at April 26, 2018 Board of Director's m 0 0tnc tocheck thefeasibility of the creation of a `I r r Rail station within NW 29 St and NW 20 Si. The study will look at current d •mographic s, number of schools, residents, projected development and other statistics that were requested by the TPO. Public Sidewalk Rubber Mulch Initiative to prevent trip & falls $ - $ 20,000 $ - $ 20,000 $ 15,000 FY'19 Requested funds are touch up of rubber mulching throughout II • District The e Wynwood BID will facilitate a walk through of North Miami Ave to locate sidewalk areas that need rubber mulching installed in light o1 the reconstruction of street. F Y' I3: fhe exp rues are an FY 17 accrual of installation of rubber mulct that was installed on NW 2 Ave from NW 29 St. to NW 22 St, to combat tripping issues on public right of way due to decaying tree beds. Hospitality Ambassador Program $ 87960 Approved at July 1 I 018 Board of Director's e e n ti roe for the funding of hospitality atnl ssadors to interact with the public and provide maps, directions, parking options and way finding services for visitors of the area. We suffer from a high number of visitors inthe area that are always lost due to not being familiar with the area, Wynwood Way Finding Bannerspatinas $ $_ $ _ $ 'S 000 FY'19: l I v6ymtroud BID r trendy has I I q 11I -ce9 bat oo s ustalled within the- Distr : huuuda ics that will reed to be ul fated to rcllut e wet r n 11-" I9J. W reword RID also with Io<ul busiucses throughout the yeah Employee Parking Subsidy: $ 25 000 Subsidy program for employee parking in Wynwood. The MPA currently provides an employee parking program and the BID is seeking to expand the project in light of the growth the neighborhood has experienced, Antenna'Security Radio Network: $ SA00 $ - $ _ $ _ $ - Initiative cancelled due to incoming provider security provider, This was for the installation of a seurity antenna for the radio communications amongst clean team members. Total: $ 11,618 $ 26,600 $ - $ 26,600 $ 612,460