HomeMy WebLinkAboutPre-LegislationRESOLUTION NO. 017/2019
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE MIAMI
DOWNTOWN DEVELOPMENT AUTHORITY OF THE CITY OF MIAMI,
FLORIDA ("MIAMI DDA") APPROVING THE PRELIMINARY ANNUAL
BUDGET OF THE MIAMI DDA FOR THE FISCAL YEAR BEGINNING
OCTOBER 1, 2019 AND ENDING SEPTEMBER 30, 2020; REQUESTING THAT
THE MIAMI CITY COMMISSION ESTABLISH THE MILLAGE TO SUPPORT
THE FINANCIAL REQUIREMENTS OF THE BUDGET; AUTHORIZING THE
EXECUTIVE DIRECTOR OF THE MIAMI DDA TO EXPEND FUNDS FOR THE
BUDGET; DIRECTING THE EXECUTIVE DIRECTOR TO FILE A DETAILED
STATEMENT OF THE PROPOSED EXPENDITURES AND ESTIMATED
REVENUES FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2019 AND
ENDING SEPTEMBER 30, 2020 WITH THE CITY CLERK OF THE CITY OF
MIAMI ("CLERK") AFTER ADOPTION AND ESTABLISHMENT OF THE
MILLAGE BY THE MIAMI CITY COMMISSION; AND FURTHER PROVIDING
THAT A COPY OF THIS RESOLUTION BE FILED WITH THE CLERK.
WHEREAS, the Miami Downtown Development Authority of the City of Miami, Florida
("Miami DDA") has prepared a preliminary budget for the Fiscal Year beginning October 1, 2019
and ending September 30, 2020 ("Fiscal Year"); and
WHEREAS, the Board of Directors of the Miami DDA has reviewed said budget on the
Estimated Tax Roll provided by Miami -Dade County; and
WHEREAS, the Board of Directors of the Miami DDA finds that the proposed budget is
necessary in order to further the objectives of the Miami DDA, as authorized by the Code of the
City of Miami, Florida, as amended;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
MIAMI DOWNTOWN DEVELOPMENT AUTHORITY OF THE CITY OF MIAMI, FLORIDA:
Section 1. The recitals are true and correct and are adopted by reference and
incorporated as if fully set forth in this Section.
Section 2. The preliminary budget of the Miami DDA, as submitted by the Executive
Director is made part of this Resolution and is hereby approved and shall be known as the "Annual
Budget of the Miami Downtown Development Authority: Fiscal Year October 1, 2019 through
September 30, 2020".
Section 3. The following appropriations for the Fiscal Year BEGINNING October 1,
2019 and ending September 30, 2020 are hereby made for the purpose of financing the operations
and other legal and proper purposes of the Miami DDA:
GENERAL FUND
Revenue Sources
Ad Valorem Tax Levy $ 9,920,000
Other Revenue 365,000
Total Sources 10,285,000
Carryover Funds from Prior Years 2,413,087
Total Revenues and Balances 12.698.087
Use of Funds
General Expenses
Leadership, Advocacy and Operations
Urbanism
Enterprise
Fund Balances/Reserves
Subtotal
Total Uses
3,577,152
1,020,200
4,883,250
1,920,750
11,401,352
1,296,735
12 698 087
Section 4. The Executive Director is directed to submit a copy of this preliminary
budget as well as this Resolution to the Miami City Commission and to request the Miami City
Commission to adopt said preliminary budget and establish the millage, authorized by law, to
support the financial requirements of this budget.
Section 5. The Executive Director is authorized to expend funds, including new
salary rates, as provided in said budget, after adoption and establishment of the millage by the
Miami City Commission, beginning October 1, 2019.
Section 6. The Executive Director is directed to prepare and file with the City Clerk
of the City of Miami, Florida ("Clerk") a detailed statement of the proposed expenditures and
estimated revenues for the Fiscal Year 2019-2020, which shall be entitled "Annual Budget of the
Miami Downtown Development Authority: Fiscal Year October 1, 2019 through September 30,
2020".
Section 7. A copy of this Resolution and the attachment(s) shall be filed with the
Clerk after adoption of the millage by the Miami City Commission.
Section 8. This Resolution shall become effective immediately upon its adoption.
PASSED AND ADOPTED this 19th of + ly, 2 i 19.
, Chairman
yce M. Robertson, Executive Director
Ivonne de la Vega
Secretary to the Board of the Direct