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Home My WebLink AboutOMNI Executive Director's Substitution MemoOMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY INTER -OFFICE MEMORANDUM Honorable Mayor Date: August 31, 2020 and Members of the City Commission Subje, September 10th, 2020 Virtual City Commission Meeting Agenda - Substitution of Exhibit "A" Omni CRA Fiscal Year Budget 2020-2021 Jason Walker References Executive Director Enclosures Agenda Item BH. 8 on September 10t'', 2020 City Commission Agenda is being substituted to include the attached substitute Exhibit "A", the "Omni CRA FY Budget 2020-2021" as adopted by the Omni CRA Board on August 31' 2020. The City's agenda submission deadline passed before the finalization of the Omni CRA Board Meeting. As a result please find the Omni CRA FY 2020-2021 budget as adopted by the board. cc. Jason Walker, Executive Director Miriam Santana, Agenda Coordinator 7 791 OMNI Executive Director's Substitution Memo Omni CRA OMNI Community Redevelopment Agency Legislation OMNI CRA Resolution: CRA-R-20-0011 OMNI CRA 1401 N. Miami Avenue Miami, FL 33138 www.miamicra.com File Number: 7797 Final Action Date: 8/31/2020 A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE OMNI REDEVELOPMENT DISTRICT 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, 2020 AND ENDING SEPTEMBER 30, 2021; DIRECTING THE EXECUTIVE DIRECTOR TO TRANSMIT A COPY OF THE BUDGET TO THE CITY OF MIAMI AND MIAMI- DADE COUNTY. WHEREAS, the Omni Redevelopment District 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 Fiscal Year 2020-2021 redevelopment activities, the Board of Commissioners must approve the CRA's proposed General Operating Budget and Tax Increment Fund Budget ("Budget") for the Fiscal Year commencing October 1, 2020 and ending September 30, 2021 ("Fiscal Year"); and WHEREAS, the CRA's Budget is in the total amount of $62,856,996.00 for the Fiscal Year, and WHEREAS, unused portions of line items 3 and 23 of the Fiscal Year 2019-2020 Budget will be rolled over to the CRA's Fiscal Year Budget; and WHEREAS, a copy of the Budget is required to be transmuted to the City of Miami ("City") and Miami -Dade County ("County"); NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF MIAMI, FLORIDA: Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by reference and incorporated herein as if fully set forth in this Section. Section 2. The Budget for the Fiscal Year, attached and incorporated as Exhibit "A", is approved and adopted. Section 3. The Executive Director is directed to transmit a copy of the budget to the City and the County. Section 4. This Resolution shall become effective immediately upon its adoption. City of Miami Page I of 2 Rig 1D: 7797 (Revision: A) Prkrted On: a'3/2020 Flle ID: 7797 Enactment Number. CRAM20.0011 APPROVED AS TO FORM AND CORRECTNESS: Bamaby L. Min, Deputy City Attorney 9/3/2020 City of Mend Page 2 of 2 File ID: 7797 (Revision: A) Printed on: 9/3/2020 EXHIBIT A Me DOCUMENT I$ A SUBSTITUTION TO ORIGINAL. $ACKUP ORIGINAL CAN BE BEEN AT END OP THIS DOCUMENT. Ofella TAX INCRIMENT;FUND BUDGET , FY 2021 PROPOSED BUDGET FY 2020 ADOPTED BUDGET BUDGET VARIANCE REVENUES CITY OF MIAM I -TAX INCREMENT $18.726,124 S16.975.009 $1.751,115 MIAMI DARE COUNTY -TNT INCREMENT (ORIGBIALBOUNDARIES) $11,401,481 $10,465,562 $935`919 CITY OF MIAMN -TAX INCREMENT (2009 ADDft10N EXPANDED BOUNDARIES) $650,015 $531,657 $118.323 MIAMIDADECOUNTY - TAX INCREMENT (7.009ADDITIONEXPANDED BOUNOARIES) 5395.021 $327.756 $67,265 ToldTIFResenees M1.171pi t , 2020 FUND BALANCE LOAN SERIFS 2018 A and 2016 B (Funds held by Bar# Linked) $11,767,372 $11,755,752 $11,620 TRANSFER FROM MIDTOWN CRA (Aderinlst»tlon) $914467 $88,837 $9,630 RENT INCOME $60,000 $101,461 -$21,411 2020 CHRDREN TRUST CONTRIBUTION $1,246,906 $1.132,001 $114,903 2020 ESTIMATED FUND BALANCE (RIndedes the 515v2.500-Poliem ersemer*from Leen ..... ... - $18,491,610 $12,667,306 $5,824,304 .. J 4,9P 54JI14 3 $4811,6051 1 ;4Wa .,:;q *: ACCOUNTING AND AUDIT $15,000 $15,000 $0 PROFESSIONAL SERVICES -OTHER $325,920 5603,384 -$277,464 OTHER CONTRACTlAL SERVICES $300,00D $638,692 433002 INTERFUNDTRN6FER(Debt Service) $2,824,140 $7,046,026 -$4,231.886 INTERFUMDTRANSFER (Groot) $812.500 $4501,723 -$1,689,2234 OTHER CURRENT CHARGE $1,500,000 $9,905,005 -$8,05,005 • t :e tr75 D D $35,501.708 $28,633,6 37,268,065 mtinst REGULAR SALARIES $913,640 $842,540 $71.100 RCA TAXES $16,893 $64;,454 $5,439 LIFE AND HEALTH INSURANCE $120,000 $90,000 $30,000 RETIREMENT CONTRIBUTION $50,000 $50,000 $0 FRINGE BEIEFTTS $54,500 $54,500 $0 OTHER CONTRACTUAL SERVICE $130,000 $94000 $40,000 TRAVEL AND PER DIEM $30,000 $30,11 • $0 UTILITY SERVICE $20.300 $ • ' , $0 INSURANCE $115,000 $104,166 $10,834 OTHER CURRENT CHARGE $216.667 $ 99,596 $17,2n SUPPLIES $10,000 $14000 SO OPERATING SUPPLIES $10,003 $10,000 $0 SUBSCRIPTION MEMBERSHIP $17,000 $17,000 SO M AO4INEtYAND EQUIPMENT $6.000 $24,000 $14,000 ADVERTISING $10,000 $34000 $0 RENRAL AND LEASES $8,600 $3,600 SD POSTAGE $2.000 $2,000 $0 REPAIR/MAINTENANCE-OUTSIDE $2,000 $2,000 $0 INTERNAM TRANSFER $1$,100 518,000 S0 • - rrwtweeuwwwwwsvew wove RESERVE FOR 2007GLOBAL AGREEMENT (TUNNEL) $4,232,000 SO $*1231,000 RESERVE FOR 2007GLOBAL AGREEMENT (95%PAC) 510,910,424 $0 $10,910,424 RESERVE FOR OARRLOCAI, CHI DREN'S TRUST S1,246,906 $0 $1,246,906 RESERVE FOR MIDTOWN ADM EXPENDITURES $98f467 $88.817 $9,630 RESERVE FOR SECURITY DEPOSIT- MLEC 5125,000 5125,000 $0 RESERVE FOR SECURITY DEPOSIT-1f01 GROUP LLC $40,000 $44100 $0 RES81VE FOR CAPITAL OIPEID TURES $1,311,442 $1,280,659 $30,783 RESERVE - BILLBOARD IINCOME GENERATED) $90.322 $0 $80,322 RESERVE FOR PAYMENT OF PROPERTY TAXES - MEC $209,867 $192.596 $17,271 RESERVE FOR LOAN PROCEEDS SERIES 2019 A A B $47,500 $47,500 $0 RESERVE FOR UIGOUCITATED PROPOSALS $54000 $54000 $0 2019 BUDGET RESERVE (Budget Surplus) $28.893 $94,702 -$66,809 2020 BUDGET RESERVE $249,298 $1,119,471 -$870,173 BUDS R $719A09 )0 $739,A09 ! . . ,. 9Ar� . ....Y t $6 .$1 11.601 nit AdeegaQbgsrtduewith respect toMuseum Park wider the GthInteerrllock?k emdl8ere the wNeetofctgv Ooeettonbetween the thy r d aims e srterlowf Agrrem,.r tmt 0..I etu b1*dde TM amounts payable n orzondonee .8* the whilval te,ms of the 6labdkWabadAgreemett andursudtotherwnoentosshodbedetanMrsdbytheresdudonelSedtonpabepdbcusion Matto noevent MMawaxed tbeanoints puUableunder the repo /terms of the Mold Interlaced Agreement wkh respect to Mange Pork) p) WTI TIP Revenue 2021T1P Rev for Affordable Hottdag % 2021 Budget for Affordeble Horsing e) $31,1721,641 $6117,1114 1BL 2021 TIF Reerenue $31,172.31 2021 AdatInlexeMee Expenditures $11,81U00 %Adel, Istsetive 60/ 2022 T1F Ream. S% CI audio Ressrve(2010,2DEO end NM) Tote! 1021 Budget % 2011 Beiste Rsepve / Total 2021 Budget 7797 Exhibit A -SUB 1 $018,000 $91,85411M 1..V% EXHIBIT A . r' If11W'lJ17IDlOR L4ENTFU$Ip 11DBET -• a . • . • .. ' FY1623 PROPOSED BUDGET F1(2020 Ammo BUDGET auxin- VARIANCE' BIYNRIl1 r CITY OF MIAM I -TAX INCREMENT $18,726,124 $16,975,009 $1,751,115 MIAMI DADE OOUNTY-TAX INCREMENT ENT (ORIGINAL BOUNDARIES) $11,401.481 $10,465 562 $935,919 CITY OFMIME - TAX INCREMENT (2ee9 ADDITION EXPANDED BOUNDARIES) $65g015 $531,687 $118,328 MAN DAOE COUNTY -TAX INCREMENT PON AMMON EXPANDED BOUNDARIES) $395,021 $327,756 $67,26$ Total TIF Revenues *4174141 • ` 2020FUND BALANCE I0 NSERIES2021Aend20188(FordshellbyBankUnked) $11,767,372 $11,755,752 $11,• 'P TRANSFER FROM MIDTOWN CRA (Adntlnlstratlon) 598,487 $88,837 ,Ft I RENT INCOME $80,000 $101,481 1,481 2029CIILDREN TRUST CONTRIBUTION 51,246.90E $1,132.001 - 14,905 2020E5i1MATEDFUND6AUINCEIR1neludss The$4,552, -RelmbarsementWorn tom $18,491,810• $12467,301 ,304 Swiss20 1 p I $' I . : ^ . •._ '. .. y , .�.}'.. • '`_ �✓ $M.os _ 1,685 T'Tit ,515,000 ACCOUNTING'AND AUDIT ,0001 $0 PROFESSIONAL seRVICES - OTHER $325,920 t :,314 4277,464 OTHER ODNTRACTUILLS $300,000 $638,692 4338,692 INIERFUNDTRANSFER (Debt Service) $7,045,1 $7,046,026 -$118 '' '. - .''• $2,501,723 $442,317 INTERFUND TRANSFER (Grant) OTHER CURRENT CHARGE $10 ' , 4 $9,905,005 $1,005,419 (i(1P4TSANpAIDS $37 :708 $7491.53, S1,7t019 }.. at REGUTAR SAIARIFS $913,640 $842,540 $71,100 FICA TAXES $69,893 $64,454 $5,439 LIFE AND HEALTH INSURANCE $120.000 $90,000 990,000 RETIREMENT CONTRIBUTION $50,000 $50,000 $0 FRINGE BENEFITS $554 $54500 $0 OTHER OONTRACTUALSERVICE $130A00 $90,0E0 540,000 TRAVEL AND PER DIEM $30,000` $30,000 $0 UTILITY SERVICE $20,300 $20,300 $0 INSURANCE $115,000 $104,166 $10,834 OTHER CURRENT CHARGE $216,867 $199,596 $17,211 SUP$'UES $10.000 330,000 $0 OPERATING SUPPLIES $10,000 $10,000 $0 SUBSCRIPTION MEMBERSHIP $17,000 $17.0D0 $0 MACHINERY AND EQUIPMENT $6,000 $24,000 -$13,000 ADVERTISING $30,000 $30,000 $0 RENTAL AND LEASES $3,600 $3,000 $0 POSTAGE $2,000 $2,000 $0 REPAIR/MAINTENANCE • OUTSIDE $2,000 $2,002 $0 INTERFUND TRANSFER 13840pp , , .- RESERVE FOR MIDTOWN ADM EXPENOT11JRE5 $98,467 58807 $9 RE.5Ei1VE FOR SECURITY DEPOSIT' MEC $12S,000 $ RESERVE FOR SECURITY DEPOSIT -14011 GROU' i $40A00 $0 RESERVE FOR CAPITAL EXPENDITURES $1,311,442 $1,280,659 $30,783 RESERVE - BILLBOARD (INCO ME GENERA .. $80,322 $0 $80,322 RESERVE FOR PAYMENT OF PROPERTY T - . - MEC $209,867 $192596 $17,271 RESERVE FOR LOAN PROCEEDS SERI , ',19 A & 9 $47,800 $47,800 RESERVE FOR UNSOUCITAT ED P • s ' ,: 47 $8 2019BUDGET RESERVE (0udset ) $28,893 $9E,702 2020 BUDGET RESERVE $749,294 $1,119,471 -$870,173 .,, • 0667 $739,809 The AOryrNfs olii ihaAgraw The oinks eecbmiser the anted aspect so Muse an Perk under the Global haerbaatAQnrewnt are, the seh►eetaf weep discussion between the City and ApnementObllBpdonr bn#nde the mounts mishit in accordance whh the Mend term Wks abbe! 'imbed Agreement as shppbe determined by the resobtbn q/eta ongoing dlscr sIone (but in no event Mei eased the amounts payable under of the slobol leterloml Armament with respect to Museum Pak) 4) 81 7021 TIP Revenue 2021 urRar for ANfordabla Rowatns % 2021 Modest for AfFordebIs limning 683,377.641 $B,117,264 ldli 2021 T1F %worm 381,112,641 202s Adminlwaeve Expo ndlt as $1,I2e,I00 %Administtatbe E Ip/ 2021 TIP 1Neeenua I% 81$19St Reserra 12819, 2020 and 2021) $1.018,088 119111 2021 %Mot $12, 5 ,IN% %2821 Suit Rosereeo / rots1207t 0e1494t 1.82% 1 Omni CRA OMNI Community Redevelopment Agency Master Report Enactment Number CRA-R-20-0011 OMNI CRA 1401 N. Miami Avenue Miami, FL 33136 htio://miamicra.com File Number: 7797 File Type: OMNI CRA Resolution Revision: A File Name: Approving Omni CRA's General Operating Budget & Tax Increment Fund Budget for FY'20-'21 Requesting Dept: OMNI Community Redevelopment Agency Status: ADOPTED WITH MODIFICATION(S) Controlling Body: OMNI Community Redevelopment Agency Introduced: 8/21/2020 Final Action Date: 8/31/2020 Title: A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE OMNI REDEVELOPMENT DISTRICT 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, 2020 AND ENDING SEPTEMBER 30, 2021; DIRECTING THE EXECUTIVE DIRECTOR TO TRANSMIT A COPY OF THE BUDGET TO THE CITY OF MIAMI AND MIAMI-DADE COUNTY. Notes: Emile: Attachments: 7797 Exhibit A -SUB (PDF) History of Legislative File: Revision: Acting Body: Date: Action: Result: Bamat , L. Min 8/21/2020 OMNI Community 8/31/2020 Redevelopment Agency OMNI Community 8/31/2020 Redevelopment Agency A Bamaby L. Min 9/3/2020 A City Clerk's Office 9/3/2020 Approved Form and Correctness Meeting ADOPTED WITH MODIFICATIONS) Approved Form and Correctness with Modliication(s) Rendered Completed Completed Passed Completed Completed City of Miami Page 1 of 1 Printed on: 9/32020 OMNI TAX, INCREA NTfUND BUDGET t ..... - FY 2021 PROPOSED BUDGET' FY 2020 ADOPTED BUDGET • BUDGET VARIANCE REVENUES CITY ofIMAM I- TAX INCREMENT $16,726,124 $16,975,005 S1,751,115 MIAMI DADE COUNTY • TAX INCREMENT (ORIGINAL BOUNDARIES) $11,401,481 $10,465,562 5935,919 CITY OFMIAMI- TAX INCREMENT (2W9 ADDITION EXPANDED BOUNDARIES) $650,015 $531,687 $118,328 MIAMI DADE COUNTY - TAX INCREMENT (2009 ADDITION EXPANDED BOUNDARIES) $395,021 $327,756 $67,265 Total TIE Revenues 141•172 et1 2020 FLNO BALANCE MAN SERIES 201E A and 2018 9 (Funds held by Banc United) $11,767,372 $11,755,752 $11,620 7RAMSEER FROM MIDTOWN CAA (Administration) $98,467 $88,837 $9,630 RENT INCOME $80,000 $101,481 -$21A81 2020 CHILDREN TRUST CONTRIBUTION $1,246,906 $1,132,001 $114,905 2020 ESTIMATED FUND NUANCE (It Includes the $4,552,500 - Reimbursement from Loan $18,491,610 $12,667,306 $5,824,304 Sevin 2018A TOTAL' -562,055,996 -454,045,191 $8.811,605 Wit f/ 41 ENDF,•FURES.. , ACCOUNT84G AND AUDIT $15,000 $15,000 $0 PROFESSIONAL SERVICES• OTHER $325,920 $503,384 -$17704 OTHER CONTRACTUAL SERVICES $300,000 $638,692 •$338,692 INTERFUND TRANSFER (Debt Service) $2,814,L40 $7,046,026 -$4,231,886 INTERFUND TRANSFER (Giant) $812,500 $2,501,723 -$1,689,223 OTHER CURRENT CHARGE $1,500020 $9,905,005 -$8,405,005 OTHER GRANTS AND AIDS $35,902,708 528,633,6394 $7,268,069 OM INITRATIVE E)( NDFIURJa • ' REGULAR SALARIES $913,640 $842,540 $71,100' RCA TAXES $69,893 $66,454 $5,439 UPEAND HEALTH INSURANCE $120,000 $90,003 $30,000 RETIREMENT CONTRIBUTION $50,000 $50,000 SO FRINGE BENEFITS $54500 $54,500 SD OTHER CONTRACTUAL SERVICE $130,003 $90,000 $40,000 TRAVEL AND PER DIEM $30,000 $30,000 $0 UTILITY SERVICE 520,300 $20,300 $0 INSURANCE $115,000 $104,166 $10,834 OTHER CURRENT CHARGE $216,867 $199,596 $17,271 SUPPUES $10,000 $10,000 $0 OPERATING SUPPLIES $14000 $10,000 $0 SUBSCRIPTION MEMBERSHIP $17,000 $17,000 $D MACHINERY AND EQUIPMENT $6,000 $24,000 -$18,000 ADVERTISING $30,000 $30,000 $0 RENTAL AND LEASES $3,600 $3,600 $0 PO5I'AGE $2,000 $2,030 $0 REPAIR/MAINTENANCE-OUTSIDE $2,000 $2,000 $0 INTERFUND TRANSFER SY4m $1$000 518.000 $0 rotdneneeee,.a,e OAMati RESERVE FOR 2007 GLOBAL AGREEMENT (TUNNEL) 54 231,000 $0 $4,231,000 RESERVE FOR 2007GLOBAL AGREEMENT (3.5%PAC) $10,910,424 $0 $10,910,424 RESERVE FOR INTERLOCAL CHILDREN'S TRUST $1,246,906 So $1,246,906 RESERVE FOR MIDTOWN ADM EXPENDITURES $98,467 $88,837 $9,630 RESERVE FOR SECURITY DEPOSIT- MEC $125,000 $125,000 $0 RESERVE FOR SECURITY DEPOSIT-1401 GROUP LLC $40,000 $40,000 $0 RESERVE FOR CAPITAL EXPENDITURES $1,311,442 $1,280,659 $30,783 RESERVE• BILLBOARD (INCOME GENERATED) $80,322 $0 $20,322 RESERVE FOR PAYMENT OF PROPERTY TAXES - MEC $209,867 $192,596 $17,271 RESERVE FOR LOAN PROCEEDS SERIES 201E A & B $47,500 $47,500 $0 RESERVE FOR UNSOUCITATED PROPOSALS $50,060 $50,000 SO 2019 BUDGET RESERVE (Budget Surphts) $28,893 $95,702 -$66,809 2020 BUDGET RESERVE $249,298 S1,119,471 -$870,173 2021BUDGET $739,809 50 S739809 ITNILALINCF .,; .... ,,.-1,11`4 ... $62,856,956:'$54045,391 58,811.605 The ABenays ob3ga0o4 with respect to Museum Pork under the Globol Mtertanl Agreement are the subject of ongoing discussion between the CIO and dreAgrncy. Thekarriocol Agreement Obligations include the amounts payable in riccordanar MMth the MONO terns of the ebbed kderloralAprcerstent and/or such other amount asshalt be determined by the resolution of such ongoing dbcvalon+and b' no went shoal exceed the amours pnFobk under the original tears of the Glob" 3, celAgreement with respect to Museum pork.) p) 2021TIF Revenue 202111F Rev for Affordable Homan/ % 2021 Budget for Affordable Housing S31,172.641 S3,117,264 1O% B) 202111F Revenue $31,172,641 2021 AdminIstrelive Expenditures $1,818,800 % AdrsInis tatbe Esrp / 1021 TIF Revenue Gal C) Budget Reserve (2019. 2020 and 1021) $1,016,000 Total 2021 Budget $61,156,996 % 2021 Budget Reserve / Total 1021 Bddeet 1.62%