HomeMy WebLinkAboutExhibit - Original BudgetCity of Miami
Legislation
Resolution: R-17-0436
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 2737
Final Action Date: 9/19/2017
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
ACCEPTING AND ADOPTING THE BUDGET OF THE MIDTOWN COMMUNITY
REDEVELOPMENT AGENCY ("CRA"), ATTACHED AND INCORPORATED AS
EXHIBIT "A", FOR THE FISCAL YEAR COMMENCING OCTOBER 1, 2017 AND
ENDING SEPTEMBER 30, 2018, AS APPROVED BY THE BOARD OF
COMMISSIONERS OF THE CRA.
WHEREAS, an Interlocal Agreement by and among Miami -Dade County, the City of
Miami ("City"), the Midtown Miami Community Development District ("CDD"), and the Midtown
Community Redevelopment Agency ("CRA") requires the CRA to submit an annual budget for
City approval; and
WHEREAS, the Fiscal Year 2017-2018 budget of the CRA was approved by the Board
of Commissioners of the CRA on September 19, 2017 pursuant to Resolution No. MCRA-R-17-
0002; and
WHEREAS, the City Commission wishes to adopt said budget;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION 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 as if fully set forth in this Section.
Section 2. The budget of the CRA, attached and incorporated as Exhibit "A", for the
Fiscal Year commencing October 1, 2017 and ending September 30, 2018, as approved by the
Board of Commissioners of the CRA, is accepted and adopted.
Section 3. This Resolution shall become effective immediately upon its adoption and
signature of the Mayor.'
APPROVED AS TO FORM AND CORRECTNESS:
2
1 If the Mayor does not sign this Resolution, it shall become effective at the end of ten (10) calendar days
from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become effective
immediately upon override of the veto by the City Commission.
City of Miami Page 1 of 1 File ID: 2737 (Revision:) Printed On: 9/10/2018
Midtown Community Redevelopment Agency
City of Miami
Budget Template
FY 2013-14 Actual
FY 2014-15 Actual
FY 2015-16 Actual
FY 2016-17 Budget
FY 2016-17 Projection
FY 2017-18 Proposed
Difference
Notes
Revenues td
i YhFri`
-
tp 11...
iq lli ai i,
_
Ad Valorem Taxes
$3,365,826
$4,365,197
$4,702,260
$5,143,195
$5,143,195
$6,628,404
+$1,485,209
Revenue Grand Total
$3,365,826
$4,365,197
$4,702,260
$5,143,195
$5,143,195
$6,628,404
$1,485,209
$0
Expendituresl
41
.
, i 4 f G i�
', ' a'
II Hit Pl
..
.. . .
Interfund Transfer-Adm
$33,658
$43,652
$47,023
$51,432
$51,432
'�. $66,284
+$14,852
Other Current Charges and Obligations
$3,332,168
$4,321,545
$4,655,237
$5,091,763
$5,091,763
$6,562,120
+$1,470,357
Expenditure Grand Total
$3,365,826
$4,365,197
$4,702,260
$5,143,195
$5,143,195
$6,628,404
$1,485,209
$0
Revenues Minus Expenditures
so
so
$0
$0
so
$0
Printed: 8/11/2017 11:55 AM
$0 $0
Page 1 of 1
IDTQW0
(7001.iM1TY REOUVELO,T4F7iT rikEiACT
INTER-OETICE MEMORNNDUM
Te: Board Chair Francis Suarez
And Members of the CRA Board
Frolfc Pieter Bockweg,
Executive Director
BACKGROUND:
July iF)-: 2.017 F le:
Subjecr: Midtown GRA Proposed •
General Operating & Tax
increment Fund Budget
for Fiscal Yeax 2.018.
Reicionres:
Gnoboul ExhAbt ACRA Rroposad Budget:
It. is recommended. thaL the Board of Commissioners of the Midtown Community
Redevelopment Agency approve the attached Resolution adopting the proposed
Midtown CRA Tax increment Fund audget tor the Fiscal. Year commencing October
1, 2017 and ending- September 30, 2018, and directing the Executive Director
to transmit copies of the Budget to the City of Miami arid Miami -Dade County.
JUSTIFICATION:
The Midtown CRA is required to annually prepare a proposed budget and
txanmit the budget to the. City of Miami and Miemi -Dade County. This
resolution fulfills that requirement.
City of Miami
Legislation
MCRA Resolution
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 2767 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
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 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 the redevelopment activities for Fiscal Year
2017-2018, the Board of Commissioners of the CRA must approve the 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, which the CRA is a party
to, 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 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 Board of Commissioners of CRA hereby approves and adopts the
proposed General Operating Budget and Tax Increment Fund Budget for the Fiscal Year
commencing October 1, 2017 and ending September 30, 2018.
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:
8arnaby L. Min, Deputy City Attorney 8/4/2017
City of Miami Page 1 of 1 File ID: 2767 (Revision:) Printed On; 8/15/2017
MIDTOWN CRA SPECIAL REVENUE FUND BUDGET
FY 2018
Proposed
Budget
Revenues
ADVALOREM TAXES • CITY OF MIAMI
$4,072,446
ADVALOREM TAXES • MIAMI DADE COUNTY
$2,555,958
TOTAL REVENUES
$6,628,484
Expenditures
INTERFUND TRANSFER (Administration 130
out of FY 2018 TIF revenue)
$66,284
OTHER CURRENT CHARGES AND OBLIG
$6,562,120
TOTAL EXPENDITURES
$6,628,404
REVENUE LESS EXPENDITURES
INTERFUND TRANSFER 66,284
Available funds for administration In fiscal year 201B. (1% of total TIF collected)
OTHER CURRENT CHARGES AND OBLIGATIONS $ 6,562,120
Funds to be used for the payment of principal and interest on the bonds.
2018 TIF COMPUTATION
Multiply By 95°A.
City °nettling ivtillage Current Year
County Operating MIllage - Current Year
Gross Advalorem (City)
Gross Advalorem (County)
City Operating ft4Illege (ESTIMATED)
County Operating Wage (ESTIMATED)
Adjustment 8y Value Adjustment Board
Divided By 1000
Multiply By BS%
City Operating MIllage (ESTIMATED)
County Operating Millage (ESTIMATED)
Adjustment (City)
Adjustment (County)
City County
FY 2017.2010 FY 2017-2016
608,607,380 608,607,380
(29,281,592) (29,281,592)
579,325,768 579,325,788
579,326 579,326
550,359 550,359
7.4365
4,6669
$4,092,740
(2,822,743) (2,822,743)
(2,623) (2,823)
(2,882) (2,682)
7.5710
(20,302,44)
4,072,446
4,6669
$2,568,473
(12,614.79)