HomeMy WebLinkAboutR-20-0283City of Miami
Resolution R-20-0283
Legislation
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 7749 Final Action Date: 9/10/2020
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
APPROVING AND ADOPTING THE ANNUAL BUDGET OF THE VIRGINIA KEY
BEACH PARK TRUST ("TRUST"), ATTACHED AND INCORPORATED AS
COMPOSITE EXHIBIT "A", IN THE AMOUNT OF $812,000.00 IN ANTICIPATED
REVENUE, $300,000.00 FROM CITY OF MIAMI OPERATING FUNDS,
$423,000.00 FROM TRUST CARRYOVER FUNDS, $5,000.00 FROM TRUST
CASH WITH FISCAL AGENT, AND $1,000,000.00 FROM 2021 ULTRA MUSIC
FESTIVAL, FOR A TOTAL AMOUNT OF $2,540,000.00, TO PROVIDE FOR
THE MANAGEMENT, OPERATION, AND MAINTENANCE OF THE TRUST
FOR THE FISCAL YEAR COMMENCING OCTOBER 1, 2020 AND ENDING
SEPTEMBER 30, 2021.
WHEREAS, the Virginia Key Beach Park Trust ("Trust") is a limited agency and
instrumentality of the City of Miami ("City") created pursuant to Ordinance No. 12003 adopted
December 14, 2000; and
WHEREAS, the Trust in cooperation with the City is guided by its vision to preserve the
Historic Virginia Key Beach Park property in a manner consistent with the environmental health,
public use, historical importance of the park, and the aspirations of the African American
community; and
WHEREAS, Section 38-237 of the Code of the City of Miami, Florida, as amended,
provides that the Trust shall submit its annual budget for its management, operation,
maintenance, and capital expenditures to the City Commission for approval; and
WHEREAS, the governing body of the Trust reviewed and approved the Trust's budget
for Fiscal Year 2020-2021 in the total amount of $2,540,000.00, attached and incorporated as
Composite Exhibit "A", on June 15, 2020; and
WHEREAS, the Trust requests the approval of the budget for Fiscal Year 2020-2021 in
the amount of $300,000.00 from the City's operating funds, $423,000.00 from the Trust's
carryover funds, $5,000.00 from the Trust's Cash with Fiscal Agent, $812,000.00 in anticipated
revenue, and $1,000,000.00 from 2021 Ultra Music Festival for a total amount of $2,540,000.00,
attached and incorporated in Composite Exhibit "A" ("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 Trust's Fiscal Year 2020-2021 Budget, attached and incorporated as
Composite Exhibit "A", is approved and adopted.
City of Miami Page 1 of 2 File ID: 7749 (Revision:) Printed On: 5/6/2025
File ID: 7749 Enactment Number: R-20-0283
Section 3. This Resolution shall become effective immediately upon its adoption and
signature of the Mayor.'
APPROVED AS TO FORM AND CORRECTNESS:
endez, City Httor10/21/2020
1 If the Mayor does not sign this Resolution, it shall become effective at the end of (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 commission.
City of Miami Page 2 of 2 File ID: 7749 (Revision:) Printed on: 5/6/2025