HomeMy WebLinkAboutR-22-0081City of Miami
Resolution R-22-0081
Legislation
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 11140 Final Action Date: 2/24/2022
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
APPORTIONING THE REMAINING MIAMI FOREVER BOND LIMITED AD
VALOREM ("MIAMI FOREVER BOND") FUNDS ALLOCATED TO SEA LEVEL
RISE MITIGATION AND FLOOD PREVENTION ("SLRMFP") IN THE TOTAL
NOT TO EXCEED OF AMOUNT OF ONE HUNDRED SEVENTY-SEVEN
MILLION, EIGHT HUNDRED SIXTY-FIVE THOUSAND, SEVENTY-TWO
DOLLARS ($177,865,072.00) TO EACH COMMISSION DISTRICT AS
INDICATED IN EXHIBIT "A," ATTACHED AND INCORPORATED, FOR THE
COMMISSIONER OF EACH DISTRICT TO ALLOCATE AND APPROPRIATE
BY FUTURE RESOLUTION(S) TO ELIGIBLE PROJECTS; FURTHER
APPORTIONING FIVE MILLION DOLLARS ($5,000,000.00) FROM EACH
COMMISSION DISTRICT'S APPORTIONMENT FOR A TOTAL AMOUNT OF
TWENTY-FIVE MILLION DOLLARS ($25,000,000.00) TO FUND CITY-WIDE
SLRMFP PROJECTS AS INDICATED IN EXHIBIT "A," ATTACHED AND
INCORPORATED, FOR THE CITY COMMISSION TO ALLOCATE AND
APPROPRIATE BY FUTURE RESOLUTION(S) TO ELIGIBLE CITY-WIDE
PROJECTS; ALL ALLOCATIONS OF MIAMI FOREVER BOND FUNDS BY THE
CITY COMMISSION TO ELIGIBLE PROJECTS ARE SUBJECT TO THE CITY
OF MIAMI TAKING ANY AND ALL NECESSARY ACTIONS TO AMEND THE
MULTI -YEAR CAPITAL PLAN AND COMPLIANCE WITH ALL APPLICABLE
LAWS, RULES, REGULATIONS, AND AUTHORIZATIONS, INCLUDING BUT
NOT LIMITED TO, FEDERAL LAWS, STATE LAWS, THE CHARTER OF THE
CITY OF MIAMI, FLORIDA, AS AMENDED, THE CODE OF THE CITY OF
MIAMI, FLORIDA, AS AMENDED, AND THE MIAMI FOREVER BOND
VALIDATION ORDER.
SPONSOR(S): Commissioner Ken Russell, Commissioner Manolo Reyes
WHEREAS, on November 7, 2017, the registered voters of the City of Miami ("City")
approved by referendum ballot for the City to issue General Obligation Bonds in an aggregate
principal amount not to exceed Four Hundred Million Dollars ($400,000,000.00) with interest
payable at or below the maximum rate allowed by law payable from ad valorem taxes levied on
all taxable property in the City, provided that the capital projects' debt millage not exceed the
current rate of 0.5935, for capital projects to reduce flooding risks; improve stormwater
infrastructure; enhance public safety; and improve affordable housing, economic development,
parks, cultural facilities, streets, and infrastructure ("Miami Forever Bond"); and
WHEREAS, One Hundred Ninety -Two Million Dollars ($192,000,000.00) of the Miami
Forever Bond funds were allocated for Sea Level Rise Mitigation and Flood Prevention projects
intended to mitigate the most severe current and future effects of sea level rise, flooding risks,
and vulnerabilities through strategic infrastructure investments ("SLRMFP Funds"); and
City of Miami Page 1 of 3 File ID: 11140 (Revision:) Printed On: 6/9/2025
File ID: 11140 Enactment Number: R-22-0081
WHEREAS, the City's objectives for the use of the SLRMFP Funds are to minimize
flooding frequency, severity, duration, and impacts; protect critical infrastructure and high -use
areas; and reduce financial and economic vulnerability; and
WHEREAS, Ten Million, Two Hundred Ninety -Four Thousand, Nine Hundred Twenty -
Eight Dollars ($10,294,928.00) of the SLRMFP Funds have already been allocated by the City
Commission for eligible projects; and
WHEREAS, one of the themes that the City has developed and implemented for the
Miami Forever Bond is Equity with the purpose of ensuring that the benefits of the Miami
Forever Bond are fairly distributed across the City and all income levels, maintaining the
cohesiveness of the City's social fabric and diversity; and
WHEREAS, the Commissioner for each City Commission District is best situated to
know and understand the needs of his or her respective District; and
WHEREAS, the City Commission believes it is in the best interest of the City to
apportion the remaining One Hundred Seventy -Seven Million, Eight Hundred Sixty -Five
Thousand, Seventy -Two Dollars ($177,865,072.00) of SLRMFP Funds to the five (5)
Commission Districts as indicated in Exhibit "A," attached and incorporated; and
WHEREAS, the City Commission additionally believes it is in the best interest of the City
to apportion Five Million Dollars ($5,000,000.00) from each Commission District's apportionment
for a total of Twenty -Five Million Dollars ($25,000,000.00) to fund City-wide SLRMFP projects
as indicated in Exhibit "A," attached and incorporated;
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 City Commission hereby apportions the remaining Miami Forever Bond
SLRMFP Funds in an amount not to exceed One Hundred Seventy -Seven Million, Eight
Hundred Sixty -Five Thousand, Seventy -Two Dollars ($177,865,072.00) equally between the five
(5) Commission Districts as indicated in Exhibit "A," attached and incorporated, for the
Commissioner of each District to allocate and appropriate by future resolution(s) to eligible
projects, subject to the City taking any and all necessary actions to amend the Multi -Year
Capital Plan and to comply with all applicable laws, rules, regulations, and authorizations,
including but not limited to, federal laws, State laws, the Charter of the City of Miami, Florida, as
amended ("City Charter"), the Code of the City of Miami, Florida, as amended ("City Code"), and
the Miami Forever Bond Validation Order.
Section 3. The City Commission hereby further apportions Five Million Dollars
($5,000,000.00) from each Commission District's apportionment for a total amount of Twenty -
Five Million Dollars ($25,000,000.00) to fund City-wide SLRMFP projects as indicated in Exhibit
"A," attached and incorporated, for the City Commission to allocate and appropriate by future
resolution(s) to eligible City-wide projects, subject to the City taking any and all necessary
actions to amend the Multi -Year Capital Plan and to comply with all applicable laws, rules,
regulations, and authorizations, including but not limited to, federal laws, State laws, the City
Charter, the City Code, and the Miami Forever Bond Validation Order.
City of Miami Page 2 of 3 File ID: 11140 (Revision:) Printed on: 6/9/2025
File ID: 11140
Enactment Number: R-22-0081
Section 4. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND CORRECTNESS:
City of Miami Page 3 of 3 File ID: 11140 (Revision:) Printed on: 6/9/2025