HomeMy WebLinkAboutComposite Exhibit A SUBTHIS ITEM IS A SUBSTITUTION. THE
ORIGINAL CAN BE FOUND AT THE
END OF THIS DOCUMENT.
COMPOSITE EXHIBIT A:
1. Resolution No. MCRA-R-19-0001, adopted on September 12, 2019, by the Board
of Commissioners of the Midtown Community Redevelopment Agency approving
and adopted the Midtown CRA's Proposed Budget for the fiscal year
commencing October 1, 2019 and ending September 30, 2020 in the amount of
$8,883,704.00; and
2. Proposed Budget Attachment from Midtown CRA Staff; and
3. Fiscal Year 2019-2020 Budget Template from City's Budget Department
FILE NO. 6303
Midtown
Community Redevelopment Agency
Legislation
MCRA Resolution: MCRA-R-19-0001
Midtown CRA
1401 N. Miami Avenue
Miami, FL 33136
www.miamicra.com
File Number: 6227
Final Action Date: 9/12/2019
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE MIDTOWN
COMMUNITY REDEVELOPMENT AGENCY ("CRA"), WITH ATTACHMENT(S),
ACCEPTING AND APPROVING THE 2020 PROPOSED BUDGET OF THE CRA,
ATTACHED AND INCORPORATED AS EXHIBIT "A", IN THE AMOUNT OF
$8,883,704.00, FOR THE FISCAL YEAR COMMENCING OCTOBER 1, 2019 AND
ENDING SEPTEMBER 30, 2020; DIRECTING THE EXECUTIVE DIRECTOR TO
TRANSMIT A COPY OF EACH BUDGET TO THE CITY OF MIAMI AND TO
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
2018-2019, the Board of Commissioners of the CRA must approve the proposed Tax Increment
budget for the fiscal year commencing October 1, 2019 ending September 30, 2020; and
WHEREAS, pursuant to an Interlocal Agreement dated May 28, 2004, as amended, on
June 30, 2005, which the CRA is a party to, a copy of each budget is to be transmitted to the
City of Miami and to Miami -Dade County;
NOW, THEREFORE, BE IT RESOLVED BY THE MIDTOWN COMMUNITY
REDEVELOPMENT AGENCY ("CRA") OF THE CITY OF MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are
approved by reference and incorporated as if fully set forth in this Section.
Section 2. The Board of Commissioners of the CRA hereby approves and adopts the
2020 proposed budget for the fiscal year commencing October 1, 2019 ending September 30,
2020.
Section 3. The Executive Director is directed to transmit a copy of the 2020
proposed budget to the appropriate officials of the City of Miami and of Miami -Dade County.
Section 4. This Resolution shall become effective immediately upon its adoption.
City of Miami Page 1 of 2 File ID: 6227 (Revision:) Printed On: 9/12/2019
File ID: 6227
Enactment Number: MCRA-R-19-0001
APPROVED AS TO FORM AND CORRECTNESS:
City of Miami Page 2 of 2 File ID: 6227 (Revision:) Printed on: 9/12/2019
Midtown
Community Redevelopment Agency
Master Report
Enactment Number: MCRA-R-19-0001
Midtown CRA
1401 N. Miami Avenue
Miami, FL 33136
http //rniamic-ra:corn
File Number: 6227 File Type: MCRA
Resolution
Revision:
File Name: Midtown CRA's Proposed Budget for FY'19-'20
Status: ADOPTED
Controlling Body: Midtown Community
Redevelopment Agency
Introduced: 7/15/2019
Requesting Dept: Midtown Community Redevelopment Agency Final Action Date: 9/12/2019
Title: A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE MIDTOWN
COMMUNITY REDEVELOPMENT AGENCY ("CRA"), WITH ATTACHMENT(S),
ACCEPTING AND APPROVING THE 2020 PROPOSED BUDGET OF THE CRA,
ATTACHED AND INCORPORATED AS EXHIBIT "A", IN THE AMOUNT OF
$8,883,704.00, FOR THE FISCAL YEAR COMMENCING OCTOBER 1, 2019 AND
ENDING SEPTEMBER 30, 2020; DIRECTING THE EXECUTIVE DIRECTOR TO
TRANSMIT A COPY OF EACH BUDGET TO THE CITY OF MIAMI AND TO MIAMI-
DADE COUNTY.
Notes:
Links:
Attachments: 6227 Exhibit A (PDF)
History of Legislative File:
Revision: Acting Body: Date:
Action: Result:
Victoria Mendez
Midtown Community
Redevelopment Agency
Midtown Community
Redevelopment Agency
City Clerk's Office
8/13/2019
9/12/2019
9/12/2019
9/12/2019
Approved Form and
Correctness
Meeting
ADOPTED
Rendered
Completed
Completed
Passed
Completed
City of Miami Page 1 of 1 Printed on: 9/12/2019
FY 2020
FY 2019
Budget
MIDTOWN CRA SPECIAL REVENUE FUND BUDGET
Proposed
Proposed
Variance
Budget
Budget
Revenues
ADVALOREM TAXES - CITY OF MIAMI
$5,494,758
$4,221,173
$1,273,585
ADVALOREM TAXES- MIAMI DADE COUNTY
$3,388,946
$2,597,084
$791,862
TOTAL REVENUES
$8,883,704
$6,818,257
$2,065,447
Expenditures
INTERFUND TRANSFER (Administration - 1% out
of FY 2020 TIE revenue)
$88,837
$68,183
$20,654
OTHER CURRENT CHARGES AND OBLIG
$8,794,867
$6,750,074
$2,044,793
TOTAL EXPENDITURES
$8,883,704
$6,818,257
$2,065,447
REVENUE LESS EXPENDITURES
1
INTERFUND TRANSFER
Available funds for administration in fiscal year 2020, (1% of total TIF collected)
$ 88,837
OTHER CURRENT CHARGES AND OBLIGATIONS $ 8,794,867
Funds to be used for the payment of principal and interest on the bonds,
2020 TIF COMPUTATION
Multiply By 95%
City Operating Miliage - Current Year
County Operating Miliage - Current Year
Gross Advalorem (City)
Gross Advalorem (County)
City Operating Miliage
County Operating Miliage
Adjustment By Value Adjustment Board
Divided By 1000
Multiply By 95%
City Operating Miliage
County Operating Miliage
Adjustment (City)
Adjustment (County)
City County
FY 2019-2020 FY 2019-2020
795,441,747 795,441,747
(29,281,592) (29,281,592)
766,160,155 766,160,165
766,160
727,862
7,5665
(1,774,406)
(1,774)
(1,686)
7,4365
766,160
727,852
4.6669
$5,507,293
(1,774,406)
(1,774)
(1,686)
4.6669
(12,536)
$3,396,813
(7,867)
$ 5,494,758 $ 3,388,946 $ 8,883,704
2
SUBSTITUTED.
COMPOSITE EXHIBIT A:
1. Resolution No. MCRA-R-19- , adopted on , 2019, y the
Board of Commissioners of the Midtown Community Redevelopment gency
approving and adopted the Midtown CRA's Proposed Budget for the f cal year
commencing October 1, 2019 and ending September 30, 2020 in thv amount of
$8,883,704.00; and
2. Proposed Budget Attachment from Midtown CRA Staff; and
3. Fiscal Year 2019-2020 Budget Template from City's Budget De..rtment
SUBSTITUTED.
MIDTOWN CRA SPECIAL REVENUE FUND BUDGET
FY 7020
Proposed
Budget
FY 7019
Proposed
Budget
Budget
Variance
Revenues
ADVALOREM TAXES - CITY OF MIAMI
$5,494,758
$4,221,17
$1,273,585
ADVALOREM TAXES - MIAMI DADE COUNTY
$3,388,946
$2,597,0 4
$791,862
TOTAL REVENUES
$8,883,704
$6 18,257
$2, ,447
Expenditures
INTERFUND TRANSFER (Administration - 1% out
of FY 2020 TIE revenue)
$88, 7
$68,183
$20,654
OTHER CURRENT CHARGES AND OBLIG
$8, 4,867
$6,750,074
$2,044,793
TOTAL EXPENDITURES
8,883,704
$6,818,257
$2,065,447
REVENUE LESS EXPENDITURES
INTERFUND TRANSFER
Available funds for administration In fiscal year 2020, (1% of total TIF collected)
OTHER CURRENT CHARGES AND OBLIGATIONS
Funds to be used for the payment of principal and interest on the bonds,
2020 TIF COMPUTATION
Multiply By 95%
City Operating Millage - Current Year
County Operating Millage - Current Year
Gross Advalorem (City)
Gross Advalorem (County)
City Operating MIliage
County Operating Millage
Adjustment By Value Adjustment Board
Divided By 1000
Multiply By 95%
City Operating MIllage
County Operating Millage
Adjustment (City)
Adjustment (County)
City
FY 2010-2020
795,441,747
(29,201,592)
766,160,155
766,160
727,852
7.5666
$5 407,203
SUBSTITUTED.
88,837
,794,867
County
FY 2019-2020
795,441,747
(29,281,592)
766,160,156
766,160
727,862
4.6669
(1,774,406, (1,774,406)
(1,7 ) (1,774)
(,680) (1,686)
.4365
(12,536)
4,8669
$3,396,813
(7,667)
5,494,758 $ 3,388,946 8,883,704