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HomeMy WebLinkAboutPre-LegislationCity of Miami Resolution R-22-0310 Legislation City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 12355 Final Action Date: 9/10/2022 A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), APPROVING AND ADOPTING THE PROPOSED ANNUAL BUDGET OF THE DOWNTOWN DEVELOPMENT AUTHORITY ("MIAMI DDA") OF THE CITY OF MIAMI, FLORIDA ("CITY"), ATTACHED AND INCORPORATED AS EXHIBIT "A," IN THE TOTAL AMOUNT OF $18,725,000, AND MAKING APPROPRIATIONS FROM THE DOWNTOWN DEVELOPMENT DISTRICT AD VALOREM TAX LEVY AND OTHER MISCELLANEOUS INCOME FOR THE MIAMI DDA, FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2022, AND ENDING SEPTEMBER 30, 2023; AUTHORIZING THE MIAMI DDA TO MAKE TRANSFERS BETWEEN ACCOUNTS FOR NECESSARY AND PROPER PURPOSES; AUTHORIZING THE MIAMI DDA TO INVITE AND ADVERTISE REQUIRED BIDS; PROVIDING THAT THIS RESOLUTION BE DEEMED SUPPLEMENTAL AND IN ADDITION TO THE RESOLUTION MAKING APPROPRIATIONS FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2022, AND ENDING SEPTEMBER 30, 2023, FOR THE OPERATIONS OF THE CITY. WHEREAS, Section 14-59 of the Code of the City of Miami, Florida, as amended ("City Code"), provides that the Downtown Development Authority ("Miami DDA") of the City of Miami, Florida ("City") shall submit its proposed annual budget for its operations to the City Commission for approval; and WHEREAS, the Board of Directors of the Miami DDA approved and adopted the Miami DDA's proposed annual budget for Fiscal Year ("FY") 2022-2023 on July 15, 2022, pursuant to Miami DDA Resolution 025/2022 in the total amount of $18,725,000.00; and WHEREAS, the Miami DDA requests the approval of the proposed annual budget for the FY commencing October 1, 2022, and ending September 30, 2023 in the total amount of $18,725,000.00; 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 Miami DDA tentative annual budget, attached and incorporated as Exhibit "A," in the total amount of $18,725,000.00, for the operations of the Miami DDA to become the tentative annual budget, for the FY commencing October 1, 2022 and ending September 30, 2023, is approved and adopted, and appropriations are made from the Downtown Development District ad valorem tax levy and other miscellaneous income for the Miami DDA. City of Miami Page 1 of 2 File ID: 12355 (Revision:) Printed On: 9/12/2022 File ID: 12355 Enactment Number: R-22-0310 Section 3. The abovementioned operating expenditures are merely anticipatory and thus, the Board of Directors of the Miami DDA is hereby authorized' to withhold any of these appropriated funds from encumbrance or expenditure should such action appear advantageous to the economic and efficient operation of the Miami DDA. Section 4. The Miami DDA is authorized' to make transfers between the detailed accounts comprising any of the amounts appropriated in Section 2 above so that any available and required balance in such accounts may be used for other necessary and proper purposes. Section 5. Subject to Chapter 18 of the City Code, the Miami DDA is further authorized' to solicit bids for the purposes of procuring any materials, supplies, equipment, and services embraced in the amounts appropriated in Section 2 above for which formal bidding is required with such bids being returnable as required by law. Section 6. This Resolution shall be deemed supplemental and in addition to the Resolution making appropriations for the operations of the City for the FY commencing October 1, 2022, and ending September 30, 2023. Section 7. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.2 APPROVED AS TO FORM AND CORRECTNESS: ndeez, ty 'ttor ey 8/29/2022 1 The herein authorization is further subject to compliance with all legal requirements that may be imposed, including but not limited, to those prescribed by applicable City Charter and City Code provisions. 2 If the Mayor does not sign this Resolution, it shall become effective at the end of ten (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 City Commission. City of Miami Page 2 of 2 File ID: 12355 (Revision:) Printed on: 9/12/2022 City of Miami Resolution R-22-0309 Legislation City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 12354 Final Action Date: 9/10/2022 A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), PROPOSING AN ADDITIONAL TENTATIVE MILLAGE RATE FOR AD VALOREM TAXATION PURSUANT TO SECTION 200.065, FLORIDA STATUTES; DEFINING AND DESIGNATING THE TERRITORIAL LIMITS OF THE DOWNTOWN DEVELOPMENT DISTRICT ("DISTRICT") OF THE CITY OF MIAMI, FLORIDA ("CITY"); LEVYING AN ADDITIONAL AD VALOREM TAX ON ALL REAL AND PERSONAL PROPERTY IN THE DISTRICT AT THE RATE OF 0.4681 MILLS ON THE DOLLAR OF TAXABLE VALUE OF SUCH PROPERTY IN THE DISTRICT FOR THE PURPOSE OF FINANCING THE OPERATION OF THE MIAMI DOWNTOWN DEVELOPMENT AUTHORITY OF THE CITY OF MIAMI, FLORIDA ("MIAMI DDA") FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2022, AND ENDING SEPTEMBER 30, 2023; PROVIDING THAT THE MIAMI DDA TENTATIVE MILLAGE SHALL BE IN ADDITION TO THE MILLAGE ADOPTED BY THE CITY COMMISSION PURSUANT TO ARTICLE VII, SECTION 9 OF THE FLORIDA CONSTITUTION AND SECTION 166.211, FLORIDA STATUTES, AS WELL AS ANY SPECIAL ASSESSMENTS IMPOSED BY THE SAME; PROVIDING THAT THIS RESOLUTION SHALL NOT BE DEEMED AS REPEALING OR AMENDING ANY OTHER RESOLUTION OR ANY ORDINANCE FIXING MILLAGE OR LEVYING TAXES, BUT SHALL BE DEEMED SUPPLEMENTAL AND IN ADDITION THERETO; CONTAINING A SEVERABILITY CLAUSE; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the Miami City Commission ("City Commission") pursuant to Chapter 65- 1090, Laws of Florida; Section 189.056, Florida Statutes ("F.S."), and Section 14-60 of the Code of the City of Miami, Florida, as amended ("City Code"), is authorized to levy an additional ad valorem tax on the taxable value of all real and personal property in the Downtown Development District, the boundaries of which are established in Section14-27 of the City Code attached and incorporated as Exhibit "A" ("District"), not exceeding 0.5125 mills on the dollar valuation of such property for the purpose of financing the operation of the Miami Downtown Development Authority of the City of Miami, Florida ("Miami DDA") as affirmed in Milan Investment Group v. City of Miami, 172 So. 3d 458 (Fla. 3rd DCA 2015); and WHEREAS, Section 200.065, F.S., sets forth the method of computing, proposing, and fixing a millage rate for ad valorem taxation; and WHEREAS, on July 1, 2022, the Miami -Dade County Property Appraiser ("Property Appraiser") pursuant to Section 200.065(1), F.S., certified to the Miami DDA the taxable value of property within the territorial limits of the District at $24,602,533,803 as set forth in attached and incorporated Composite Exhibit "B"; and City of Miami Page 1 of 3 File ID: 12354 (Revision:) Printed On: 9/12/2022 File ID: 12354 Enactment Number: R-22-0309 WHEREAS, the Miami DDA prepared a proposed budget for the Fiscal Year ("FY") beginning October 1, 2022, and ending September 30, 2023, and computed a tentative millage rate of 0.4681 mills, which is necessary to fund the proposed budget, other than the portion of the Miami DDA's budget to be funded from sources other than ad valorem taxes; and WHEREAS, on July 28, 2022, the City Commission adopted Resolution No. R-22-0287, attached and incorporated as Exhibit "C", wherein it directed the Executive Director of the Miami DDA to submit to the Property Appraiser and the Miami -Dade County Tax Collector the tentative millage rate of 0.4681 mills, together with other required information set forth in Section 200.065(2)(b), F.S., and WHEREAS, Section 200.065(5)(a)(1), F.S., requires that the now tentative millage rate of 0.4681 mills would further require, at the time of a second hearing, a four -fifths (4/5ths) affirmative vote of the City Commission on the final determination to adopt such tentative millage rate; and WHEREAS, Section 200.065(2)(c), F.S., requires the City Commission to hold a first budget public hearing on the proposed budget and the tentative millage rate, and such first budget public hearing has occurred earlier today in this meeting; 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. There shall be levied an additional ad valorem tax on the taxable value of all real and personal property within the District at a rate of 0.4681 mills on the dollar of the taxable value of such property for the purpose of financing the operation of the Miami DDA for the FY beginning October 1, 2022 and ending September 30, 2023. Section 3. The Miami DDA's tentative millage rate herein adopted is 10.24% greater than the rolled -back rate of 0.4246 mills. Section 4. The Miami DDA's tentative millage rate adopted, and the ad valorem taxes levied pursuant to this Resolution shall be in addition to the fixing of the tentative millage rate adopted and ad valorem taxes levied by the City Commission, pursuant to Article VII, Section 9 of the Florida Constitution and Section 166.211, F.S., as well as in addition to any special assessments imposed by the same. Section 5. This Resolution shall neither repeal nor amend any other resolution or ordinance adopting tentative millage or levying ad valorem taxes for the FY beginning October 1, 2022, and ending September 30, 2023, but shall be deemed supplemental and in addition thereto. Section 6. If any section, part of a section, paragraph, clause, phrase, or word of this Resolution is declared invalid, the remaining provisions of the Resolution shall not be affected. City of Miami Page 2 of 3 File ID: 12354 (Revision:) Printed on: 9/12/2022 File ID: 12354 Enactment Number: R-22-0309 Section 7. This Resolution shall become effective immediately upon its adoption and signature of the Mayor. APPROVED AS TO FORM AND CORRECTNESS: ndez, City ttor ey 8/29/2022 1 If the Mayor does not sign this Resolution, it shall become effective at the end of ten (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 City Commission. City of Miami Page 3 of 3 File ID: 12354 (Revision:) Printed on: 9/12/2022 City of Miami Certified Copy 0 City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 12070 Enactment Number: R-22-0287 A RESOLUTION OF THE MIAMI CITY COMMISSION COMPUTING A PROPOSED MILLAGE RATE FOR THE MIAMI DOWNTOWN DEVELOPMENT AUTHORITY OF THE CITY OF MIAMI, FLORIDA ("MIAMI DDA") FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2022, AND ENDING SEPTEMBER 30, 2023; AUTHORIZING THE EXECUTIVE DIRECTOR TO SUBMIT SAID PROPOSED MILLAGE RATE AND STATUTORILY DEFINED ROLLED -BACK RATE TO THE MIAMI-DADE COUNTY PROPERTY APPRAISER AND MIAMI- DADE COUNTY TAX COLLECTOR TOGETHER WITH THE DATES, TIMES, AND LOCATIONS OF THE PUBLIC HEARINGS AT WHICH THE CITY COMMISSION WILL CONSIDER THE MIAMI DDA'S PROPOSED MILLAGE RATE, TENTATIVE BUDGET, TENTATIVE MILLAGE, FINAL MILLAGE, AND FINAL BUDGET FOR SAID FISCAL YEAR. WHEREAS, Section 200.065, Florida Statutes ("Statute"), sets forth requirements for the "Truth in Millege" ("TRIM") notice and requires each taxing authority to establish a proposed millage rate and to determine the statutorily defined rolled -back rate; and WHEREAS, the Statute stipulates that said proposed millage rate and statutorily defined rolled -back rate be submitted to the Miami -Dade County Property Appraiser ("Property Appraiser") and the Miami -Dade County Tax Collector ("Tax Collector"); and WHEREAS, said proposed millage rate will reflect the levy necessary to fund the Miami Downtown Development Authority of the City of Miami, Florida's ("MIAMI DDA") tentative budget other than the portion of the budget to be funded from sources other than ad valorem taxes; and WHEREAS, the Statute defines the "rolled back millage rate" as a millage rate which, with certain specified exclusions, will provide the same ad valorem tax revenue for each taxing authority as was levied during the prior year less the amount, if any, paid or applied as a consequence of an obligation measured by the dedicated increment value; and WHEREAS, the exclusions to the rolled back millage rate are "new construction, additions to structures, deletions, increases in the value of improvements that have undergone a substantial rehabilitation which increased the assessed value of such improvements by at least one hundred (100%), property added due to geographic boundary changes, total taxable value of tangible personal property within the jurisdiction in excess of one hundred fifteen percent (115%) of the previous year's total taxable value, and any dedicated increment value"; and WHEREAS, the proposed millage rate submitted to the Property Appraiser and the Tax Collector is not binding but is necessary for the purpose of preparation of TRIM notices; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: City of Miami Page 1 of 2 R-22-0287 File Number: 12070 Enactment Number: R-22-0287 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 MIAMI DDA's rolled back rate is 0.4246 mills. Section 3. The proposed millage rate for the MIAMI DDA for the Fiscal Year beginning October 1, 2022 and ending September 30, 2023 is 0.4681 mills, which is 10.24% more than the rolled back rate. Section 4. The MIAMI DDA Executive Director is hereby authorized' to submit forthwith the rolled back rate and the proposed millage rate for the MIAMI DDA to the Property Appraiser and to the Tax Collector together with the dates, times, and locations, at which the City Commission will hold public hearings to consider the MIAMI DDA's proposed millage rate, tentative budget, tentative millage, final millage, and final budget for the Fiscal Year beginning October 1, 2022 and ending September 30, 2023 as follows: First Public Budget Hearing on Saturday, September 10, 2022, at 10:00 A.M. in the City Commission Chambers at City Hall, 3500 Pan American Drive, Miami, Florida, 33133, and the Second Public Budget Hearing on Thursday, September 22, 2022, at 5:05 P.M.in the City Commission Chambers at City Hall, 3500 Pan American Drive, Miami, Florida 33133, or such other times, dates, and locations as determined by the City Commission, provided to the Property Appraiser and Tax Collector, and publicly noticed by the City Clerk in accordance with applicable laws, rules, and regulations. Section 5. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.2 DATE: 7/28/2022 RESULT: ADOPTED MOVER: Alex Diaz de Ia Portilla, Commissioner SECONDER: Manolo Reyes, Commissioner AYES: Christine King, Joe Carollo, Ken Russell, Alex Diaz de Ia Portilla, Manolo Reyes DATE: 8/5/2022 ACTION: Signed by the Mayor 1, Todd B. Hannon, City Clerk of the City of Miami, Florida, and keeper of the records ther:of, do hereby certify that this constitutes a true and correct copy of Resolution No. R- 22-1287, passed by th- Commission on 7/28/2022. City • erk, Deputy City Clerk. (for •dd annon, City Clerk) August 8, 2022 Date Certified 1 The herein authorization is further subject to compliance with all legal requirements that may be imposed, including but not limited to, those prescribed by applicable City Charter and City Code provisions. 2 If the Mayor does not sign this Resolution, it shall become effective at the end of ten (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 City Commission. City of Miami Page 2 of 2 R-22-0287 City of Miami Master Report Enactment Number: R-22-0287 City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com Fite Number: 12070 File Type: Resolution Status: ADOPTED Revision: Controlling Body: City Commission File Name: Proposed Millage for FY '22 -'23 DDA Introduced: 6/6/2022 Requesting Dept: Downtown Development Authority Final Action Date: 7/28/2022 Title: A RESOLUTION OF THE MIAMI CITY COMMISSION COMPUTING A PROPOSED MILLAGE RATE FOR THE MIAMI DOWNTOWN DEVELOPMENT AUTHORITY OF THE CITY OF MIAMI, FLORIDA ("MIAMI DDA") FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2022, AND ENDING SEPTEMBER 30, 2023; AUTHORIZING THE EXECUTIVE DIRECTOR TO SUBMIT SAID PROPOSED MILLAGE RATE AND STATUTORILY DEFINED ROLLED -BACK RATE TO THE MIAMI-DADE COUNTY PROPERTY APPRAISER AND MIAMI-DADE COUNTY TAX COLLECTOR TOGETHER WITH THE DATES, TIMES, AND LOCATIONS OF THE PUBLIC HEARINGS AT WHICH THE CITY COMMISSION WILL CONSIDER THE MIAMI DDA'S PROPOSED MILLAGE RATE, TENTATIVE BUDGET, TENTATIVE MILLAGE, FINAL MILLAGE, AND FINAL BUDGET FOR SAID FISCAL YEAR. Notes: Links: Attachments: 12070 Back -Up Documents (PDF) 12070 Pre -Legislation (PDF) 12070 Back -Up from Law Dept (PDF) History of Legislative File: Revision: Acting Body: Date: Action: Result: Marie Gouin 6/23/2022 Budget Review Completed Victoria Mendez 7/10/2022 Approved Form and Completed Correctness City Commission 7/28/2022 Meeting Completed City Commission 7/28/2022 ADOPTED Passed Mayor's Office 8/5/2022 Signed by the Mayor Completed City Clerk's Office 8/5/2022 Signed and Attested by the City Completed Clerk City Clerk's Office 8/5/2022 Rendered Completed City of Miami Page 1 of 1 Printed on: 8/8/2022 RESOLUTION NO. 023/2022 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE DOWNTOWN DEVELOPMENT AUTHORITY OF THE CITY OF MIAMI, FLORIDA AUTHORIZING THE EXECUTIVE DIRECTOR TO ESTABLISH A PROPOSED MILLAGE RATE FOR THE DOWNTOWN DEVELOPMENT DISTRICT OF THE CITY OF MIAMI, FLORIDA FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2022 AND ENDING SEPTEMBER 30, 2023 AT 0.4681 MILLS. WHEREAS, Section 200.065(2)(a)1, Florida Statutes (2017) ("Statute"), requires each taxing authority to establish a proposed millage rate; and WHEREAS, the Statute stipulates that the proposed millage rate be submitted to the Miami -Dade County Property Appraiser and the Tax Collector; and WHEREAS, the proposed millage rate reflects the levy necessary to realize property tax revenues anticipated in the Fiscal Year 2022-2023 Budget for the Downtown Development Authority of the City of Miami ("Miami DDA"); and WHEREAS, the Statute requires that the proposed tax rate be included on tax notices; and WHEREAS, the proposed millage rate submitted to the Property Appraiser is not binding but necessary for the purpose of preparation of tax notices; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE 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 Miami DDA Board of Directors hereby authorizes the Executive Director to establish a proposed millage rate for the Downtown Development District of the City of Miami, Florida ("District") for the Fiscal Year beginning October 1, 2022 and ending September 30, 2023 at 0.4681 mills. Section 3. The Executive Director of the Miami DDA is instructed to submit said proposed millage rate for the Downtown Development District of the City of Miami, Florida to the Miami -Dade County Property Appraiser and Tax Collector. Section 4. This Resolution shall become effective immediately upon its adoption. PASSED AND ADOPTED this 24th day of June, 2022. CommissionVM.anolo Reyes Christina Crespi, Executive Director Ivonne de la Vega Secretary to the Board of Directors RESOLUTION NO. 025/2022 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, 2022, AND ENDING SEPTEMBER 30, 2023; 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 AS PROVIDED IN 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, 2022, AND ENDING SEPTEMBER 30, 2023, 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, 2022, and ending September 30, 2023, ("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 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 preliminary budget of the Miami Downtown Development Authority of the City of Miami, Florida ("Miami DDA"), as submitted by the Executive Director, is made part of this Resolution, is hereby approved, and shall be known as the "Annual Budget of the Miami Downtown Development Authority: Fiscal Year October 1, 2022, through September 30, 2023." Section 3. The following appropriations for the Fiscal Year beginning October 1, 2022, and ending September 30, 2023, are hereby made for the purpose of financing the operations and other legal and proper purposes of the Miami DDA: BUDGET SUMMARY The `cx,t v:n Development Authority or the City of Miami. Florida swear tear 2022-2021 GENERAL FUND Revenue Sources Ad 4alo-em Tax Levy u.east Mataae par 11000 $ 11,520,000 Reimbursements 4,942,000 Total Revenues 16.462.000 Reserve and Carryover 2.263.000 Total Revenues and Balances 18,725,000 Operating Expels:Ewes General Expenses 4,334,500 Leaderstap, Advocacy and Operation, 1,281.500 Nbaniam 9,193,000 Enterprise 3,355.000 Total Operating Expenditures 18.149.000 Fund Balances and Reserves 576,000 Total Expenditures, Reserves, and Baiances 18.725.000 The tentative, adopted, end/or final budgets are on file in the office of the above referenced taxing authority a: a public record 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 as 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 for the Fiscal Year beginning October 1, 2022. Section 6. The Executive Director is directed to prepare and file with the City Clerk of the City of Miami ("Clerk") a detailed statement of the proposed expenditures and estimated revenues for the Fiscal Year 2022-2023, which shall be titled "Annual Budget of the Miami Downtown Development Authority: Fiscal Year October 1, 2022, through September 30, 2023." Section 7. The Executive Director is directed to forward a copy of this Resolution and the attachments to 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 15th day of July, 2022. Commissioner Manolkf Reyes, Chairman Christina Crespi, Executive Director T: Ivonne de la Vega Secretary to the Board of the •i ctors