HomeMy WebLinkAboutExhibit AExhibit A:
Wynwood BID FY 2024-2025 Proposed Budget
Wynwood Business Improvement Distric
FY �
Actual
Actual
�
Amen
p
5/11,2a
1/24t
92
Estimated Year
-
ranBudget
cants
Comments
Number of Office Full-Timerosians
5
5
3
5
5
4
5
0
FY25, the Wyvwood wishes to in crease staffing to office personnel and(1)dear, team member, with other being promoted to local Wyvwood Hotel, after a decade +of service
BID Assessments
774,407
821,356
$ 850,000
$ 1,4/4,000
1,297,897
240,38$
1,a38,29a
$ 1,561,000$
(8T,000)385tcWofohS�[Insob$'o4m24amv
areIts
m���Wynwood BID has Increased
wtroll as wosew developments
tleuarsaretluete an nerasevfmiovaMusvce®nassessmentfiom$ entsv2ol3to$ocevtFY'24,Bastep(sB$mB3s1uscegesesfwUplpoery®r r®eval
te(Jfroom26os1q3whmvv2o3w
assessmentWynwoodB ID vAll contmue to use Miami Dade County for the collectmn of annual assessments, unth a 2, charge, for annual tmns
Deferred Collections
$ -
$ -
$ 50000
$ 25000
$ -
$ 200
$ 20000
$ 15000
$ 1000
FV25: The WynwoodB ID have almost $500,000 outstaning before puffing our assessments on Dade County Tax Roll T Legal
to try to collect the reaming assessments from $25,000em outtandmgasassssessment fees from 2013 to 2021 nowthatMiami Dade County are
cone g A e1y$5OK, massessments placed from 2013-2021. Please note that the Wynwood BIDh Halls FYY3: Based on trends, the Wynwcotl Bch expects to mllerlappmximat
Valorem tax
m past due assessments, since 2019, whim Is the largest collection of past assessments duet° mitt. e by B ID, City of Miami Legal and Bookkeepmg office
Tree Tat/Parking Waivers - Restricted
$ 468,000
$ 993,000
$ 366,000
$ 187,000
$ 1,902,000
$ 504,00
$ 2,406,000
$ 340,000
$ (317,000)made
FYTS: The Wynwood BID arerag $1,000,000 or more as per hlsWvmmery l trends and budgeted nsafiThe e1y $2,405,00, w.th two depos is
fills fiscal year The BID have been able to collect waivers that now total$9,405,420. 00. P1 ePa g Waiver Trust fimtla q c
Crty lmance 13556. Each p Is currentlyp dat$112,000 perspaceParking waiver expense uses are restncted m matureoth
Fund-ood Works(2023 reaper) Pubh c Benefit Trust
Affordable Houang Income
$ 3500000
$ 1165298
$ -
$ 1165298
$ 2
$ (2,34"102)
2/2022 on December 22, 2022: 2035 North Miami Avenue Wyvwood Works for new construction of 12-story mixed use bwlNng All on
H vtDy `129 Pr tle o xtr vmmeHousmo tls pvtl us3,V
m
eusme p to eNItD1 q evts(tlefivetlbeaow)fivunghwttheARortlability PeriodF otl BlD Fvatlame g Decernber2 ,2022 pp yn tlWodcs 5 ,mthC
ofMranu Ho g dLegal
VIew 29(2024 Reaper) Pubh c Benefit Trust Fund -
Affordable Housing Income NEW
$ _
9
$ 4000000
$ 0,000,000)
FY25. The BIDS Pubhc Benefit Commits nof$4;000,000 lhture development called View 29,1omied 2901NW 2vdAve 33127 for afforda
housmg D-1 Wynwood Public B enefit subrnes and working m tandem w.th the y of Miami Housmg Dep.ment
Other Revenue Interest Income - NEW
$ 19,240
$ 7,370
$ 35,000
$ 20,000
$ 244,714
$ 165,286
$ 410,000
ssg000
$ (145286)
FV25: The edB ID are expecting a wire of $4,000,000 for view 29 and wul allow more interest income to accumulate, whim Is around $800,000 but we budgeted convervafively at TO Bank with Us
�r tanf towS2aaE of Interest formepubucbevent wnfunaana treefund wynweea staff coe�almateatheivtene
come when we ser of$45Ka month, totalmg$about 400K at end of fiscal yar.F h yn eodB ID curter
has $14,000Din the Wyvwood Tree TNbsH®mingb$66a month, and$1,197,000 m Parking Tmst Fund that averages$11671 yearly, based on recent dep rats T
Revenue sand Total
suss,6as
S 1,821,726
$ 1,301,000
$ 5,206,000
$ 4,609909
$ 929,684
$ 5,539,593
$ 8,800,702
$ (7,871,018)
Emml _res
D Office staff (2) Clean Tam Members, and contracted
seances, BID dean team admmisranve services and
Ivtemships.
$ 439,510
$ 424,304
$ 248,700
$ 295,000
$ 226,496
$ 120,265
$ 346,761
$ 310,500
$ (15,500)
and $150 for phone allowance pc
to
F The vanance Is due to a ay, annual 30 hours a wdthepapostl Kannvayaratly are submittedtheeam e officethus iswas19 not p/hreflected and
g r2024. ) Ce.$81K�two weeks ns, no 'vaafienOVKete�ia Baca ams$450 weekly, working 30 heursaweek totaling 23K ammually. '1lmerearetwe Clean Team p y making$19 p/hantl l6
Insurance
$ 12,972
$ 8,995
$ -
$ -
$ -
$ -
$ -
$ -
Moved to hne Item belowm FY 22
Office Rent supplies, Clearing and utilities
$ 75,252
$ 81,586
$ 206,700
$ 193,000
$ 158,419
$ 26,039
$ 184,458
$ 197,000
$ (4,000)
FY,: We are currently rag $5k monthly unW November 2023, B ID wd1 seek space the calm of current rates on ground level fioodng for access to publicThe Wyvwood BID' s list of expenses are for offi
ufihfies$6K, egwpment and supphes7K,D&A Insurance $13,100, FICA, Health are$12K, Licenses, B ookkeepmg$4. and annual ault clues l21Y'23:-The WynwoodB ID's list of expenses are for office
ufihfies $5K, egwpment and supplies 6K, rent $60K, Omiture $10K, DffiO Insurance$12,100, FICA, Health are $12K, Licenses, B ookkeepmg $4. and annual ault clues
Pro fession, Mgmt Fees Audit
$ 29,76/
$ 12,863
$ -
$ -
$ 9,487
$ 2,000
$ 11,487
$ 13,500
$ (13,500)
FY25 Annual ault cost
y ood Cleaning Team
$ 87,516
$ 122,511
$ 198,000
$ 305,000
$ 105,881
$ 36,011
$ 141,892
$ 540,000
$ (23, 00)
FY'25: The Wynwood BID vAll Increase Its clean team total make$1200 p/h to$15. 00p
hour, all w.11 reserve Increasesduet exp ov to$r2.00 dollarforall current personnel mN 4 at per horEV23.3WeClean team o currently has(7)tl team personnel, working
apprommately almost 200 hours per week for the cleaning of the 50 blo.DIstnet, seven days a wee
Wyvwood Cl anivgTam Supplies
$ -
$ -
$ -
$ 39000
'tops,
$ 9518
$ 5122
$ 15000
$ -
$ 39000
FY25. The ain cleaning and safety matevals, atllfion to the purchasing of any Items needed to help w.th them...ance of public dght ormys, trash can re es cep
p g cufo sas needed We wIll also be m charge ofpamtmgwaus on builings that have een vandalized, flee of charge w.th the expansion of the clan tam services.
sewnry
$ -
$ -
$ -
$ -
$ -
$ 20,000
$ 20,000
$ 440,000
$ (440,0oo)
On Apnl,2024the Y" otl BID Board approved the domatmn of$20000 for(2)Miami Police Horses as per Commander Valdes' request for assisrancew.th tuning for morewynwood coverage This warm
prevmusly budgeted
Cap. Initiatives:
$ 251,152
$ 51 105
$ 205,000
$ 324,000
$ -
$ 170,000
$ 170,000
$ 300,000
$ 24,000
ffi-25: The wood BID are expecting to confiwe donatmns to the City of Miami Police Department procurement of signageand mfrastaetureplanning, rain stoles, rubber mulching and other Items of need fo
community The BID expects$150K m camera donatlovs,$20K m mbbermWtlilng expenses, VMA agnage donatmns to PD for Basel and any other event needed$SK for sound machines to be used by Code
Comphance, for plot program m FY 23. The BID also installs banners throughout the lstrra on street thoroughfares throughout the year for events within Drslnet
Marketing&Advertisement
$ 245,129
$ 116,516
$ 361,600
$ 400,000
$ 209,745
$ 115,255
$ 325,000
$ 500,000
$ (100,000)
FV25: The Wynwood BID vAll seek an Increase m expendrtures for next fiscal year, for the bundlmg of PR agency, local media and photography. The WynwoodB ID vAll also Increase Its presence on the Intern.
and domes. markets, wrthrts new agency lacober Creattve, ta RFP that was concluded m 2022 The WynwoodB ID's seonces are to help promote and assIst .ebusmesses We vAll also contmue expanIng th,
banner unde branIng thF roughout the fifty block lseietY23v The mg$21KK The
are here to asast with cultural events for the Istnet Smce early 2022„ the Wynwood BID has been usmglacober creattve to ass.. unth the Wynwood newsletter, photography and purchasmg of advertHements, to h
foster the Image of a self multt use community that welcomes all We also allocated filming for the WynwoodB ID's reneml
Mural Festival - NEW
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ 40,000
$ (40,000)
FY25. Proposed Mural Fes December 25.Mktoallow the BID to permit, procureana workw.th City to ensure event Is properly conducted and run assorting to code
4Public Benefit Trust Fund-
Affordable Housmg Income - Mandatory NEW
$
$
$
$
$
$
$ 4000
000OOg000)
$ (4,
T
FY25. The B ID bh s Puc B enefit Committee p es rol a ofien of$3,5M for Oture development ailed View 29, for affordable housingNRD-1 Wynweod PubllcB enefit subsiles.ere
a torel$500K that an be added to the ongma1 a11oaton If mtena are met h
wood Works(202 ens) Public Benefit Trust
Fund - AffoNableHeusivglvcome -Mandatory
$
$
$
$ 3,500,000
$ 1,165,298
$ -
$ 1,165,298
$ 2,334,702
$ 1,165, 29
bite Benefit Committee adopted resolutmn No. 02/2022 on December 22, 2022: 2
hundred nttyy(120)Pro, eet units are set alias for occupancy by Extremely Low Income Households (mcludmgmd dualstran timgoout of homelessness), Very Low fIncme H oumseholds, and Low Income
Households pursu.t to the NRD-1 Requmements(definedbele) throughout the Affordability Period FY'23: Themotl BID had ame g on December23, 2022 to approveyn dWorlrs Pro, ect,wrtthC
ofMranu Housmg andLegal
street p
$
$ 250000
'
$ 81000
$ 150,000
$ 15098
$ 13065
$ 2a163
$ 125000
$ 25000
FV25: The BID vAll seek Input from the stakeholders to contmuemffiatves from previous year,1 e pressure of trash bms, adevalks, possIble donatmns to publm works or other and graffitt related remov
FY23. 'm yn otl BID donated$5,000 for the City of Miami Code Enforcement sound meters,552- trash can tlsforthe Cuy of Miami publm works dep.ment,(4) small matchinggrantsan eq p tforr
paintmg of trash cans and Imls,p sure cleaning machine for the clan tam to help the Crty of Miami public nght of ways.
Exp enditure Grand Total
S 1,141,358
$ 106,880
$ 1,301,000
$ 5,206,000
$ 1900,301
$ 507,57
$ 2,aos,058
$ 8800,702
$ (8,292,945)
$ (94,490)
Revenues Minns zpenditures
S 120,289
$ 53,846
$ -
$ -
$ 2,709,6O8
$ 421,927
$ 3,131,535
$ -
$ 421927