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HomeMy WebLinkAboutAgenda Item Summary FormAGENDA ITEM SUMMARY FORM File ID: #4694 Date: 08/24/2018 Commission Meeting Date: 09/27/2018 Requesting Department: Downtown Development Authority Sponsored By: District Impacted: Type: Resolution Subject: Adopt Final Budget FY'19 - Downtown Development Authority Purpose of Item: The DDA requests that the City Commission adopt the attached Appropriations Resolution for the fiscal year beginning October 1, 2018 and ending September 30, 2019. Background of Item: Chapter 14 of the City of Miami Code authorizes the City Commission to levy an additional ad valorem tax on all real and personal property within the DDA for the purpose of financing the operations of the DDA. The DDA budget for FY2017-2018 was based on ad valorem revenues of $8,791,683. The proposed DDA budget for FY2018-2019 is based on estimated ad valorem of $9,120,000. This represents an increase in ad valorem of $328,317. Attached for City Commission approval is an Appropriations Resolution for the DDA for fiscal year beginning October 1, 2018 and ending September 30, 2019. Budget Impact Analysis Total Fiscal Impact: N/A Downtown Development Authority Office of Management and Budget Office of Management and Budget Office of Management and Budget City Manager's Office City Manager's Office Legislative Division Office of the City Attorney Office of the City Attorney City Commission Office of the Mayor Office of the City Clerk Office of the City Clerk Reviewed B Alyce Robertson Jacques Joseph Carolina Aguila Christopher M Rose Fernando Casamayor Nikolas Pascual Valentin J Alvarez Valentin J Alvarez Victoria Mendez Nicole Ewan Mayor's Office City Clerk's Office City Clerk's Office Department Head Review Budget Analyst Review Budget Analyst Review Budget Review Assistant City Manager Review City Manager Review Legislative Division Review Deputy City Attorney Review Approved Form and Correctness Meeting Completed Completed Skipped Completed Completed Completed Completed Skipped Completed Completed Signed by the Mayor Completed Signed and Attested by the City Clerk Completed Rendered Completed 08/24/2018 2:33 PM 08/24/2018 4:35 PM 09/06/2018 11:53 AM 09/17/2018 1:59 PM 09/18/2018 9:59 AM 09/18/2018 11:52 AM 09/18/2018 2:08 PM 09/18/2018 12:07 PM 09/18/2018 5:29 PM 09/27/2018 5:05 PM 09/27/2018 10:37 PM 09/27/2018 10:40 PM 09/27/2018 10:41 PM City of Miami Legislation Resolution Enactment Number: R-18-0419 City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 4694 Final Action Date:9/27/2018 A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), APPROVING AND ADOPTING THE FINAL ANNUAL BUDGET OF THE DOWNTOWN DEVELOPMENT AUTHORITY OF THE CITY OF MIAMI, FLORIDA ("DDA"), ATTACHED AND INCORPORATED, IN THE TOTAL AMOUNT OF $12,436,000.00, AND MAKING APPROPRIATIONS FROM THE DOWNTOWN DEVELOPMENT DISTRICT AD VALOREM TAX LEVY AND OTHER MISCELLANEOUS INCOME FOR THE DDA, FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2018, AND ENDING SEPTEMBER 30, 2019; AUTHORIZING THE DDA TO MAKE TRANSFERS BETWEEN ACCOUNTS FOR NECESSARY AND PROPER PURPOSES; AUTHORIZING THE DDA TO INVITE AND ADVERTISE REQUIRED BIDS; PROVIDING THAT THIS RESOLUTION BE DEEMED SUPPLEMENTAL AND IN ADDITION TO THE RESOLUTION MAKING APPROPRIATIONS FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2018, AND ENDING SEPTEMBER 30, 2019, FOR THE OPERATIONS OF THE CITY OF MIAMI. WHEREAS, Section 14-59 of the Code of the City of Miami, Florida, as amended ("City Code"), provides that the Downtown Development Authority of the City of Miami, Florida ("DDA") shall submit its annual budget for its operations to the City Commission for approval; and WHEREAS, the Board of Directors of the DDA approved and adopted the DDA's preliminary budget for Fiscal Year 2018-2019 on July 20, 2018, pursuant to DDA Resolution 24/2018 in the total amount of $12,436,000.00; and WHEREAS, the City Commission approved and adopted the DDA's tentative budget for the Fiscal Year ("FY") commencing October 1, 2018 and ending September 30, 2019, pursuant to City Commission Resolution No.18-0385 adopted on September 13, 2018, in the total amount of $12,436,000.00; and WHEREAS, the DDA requests the approval of the final annual budget, attached and incorporated as Exhibit "A," for the FY commencing October 1, 2018, and ending September 30, 2019, in the total amount of $12,436,000.00; 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 DDA's final annual budget, attached and incorporated as Exhibit "A," in the total amount of $12,436,000.00, for the operations of the DDA for the FY commencing October 1, 2018 and ending September 30, 2019, is approved and adopted, and appropriations are made from the Downtown Development District ad valorem tax levy and other miscellaneous income for the DDA. Section 3. The abovementioned operating expenditures are merely anticipatory and the Board of Directors of the DDA is hereby authorized to withhold any of these appropriated funds from encumbrance or expenditure should such action appear advantageous to the economic and efficient operation of the DDA. Section 4. The DDA is authorized' to make transfers between the detailed accounts comprising any of the amounts appropriated in Section 2 above, so that any available and required balance in such accounts may be used for other necessary and proper purposes. Section 5. Subject to Chapter 18 of the City Code, the DDA is further authorized to solicit bids for the purposes of procuring any materials, supplies, equipment, and services embraced in the amounts appropriated in Section 2 above for which formal bidding is required with such bids being returnable as required by law. Section 6. This Resolution shall be deemed supplemental and in addition to the Resolution making appropriations for the operations of the City of Miami for the FY commencing October 1, 2018 and ending September 30, 2019. Section 7. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.2 APPROVED AS TO FORM AND CORRECTNESS: nd City Att©r ey 9/18/2018 1 The herein authorization is further subject to compliance with all requirements that may be imposed by the City Attorney, including but not limited to, those prescribed by applicable City Charter and City Code provisions. 2 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.