HomeMy WebLinkAboutMCRA 2018-09-27 Agenda PacketCity of Miami
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
Meeting Agenda
Thursday, September 27, 2018
12:00 PM
(OR THEREAFTER)
City Hall
3500 Pan American Drive
Miami, FL 33133
Midtown Community Redevelopment Agency
Manolo Reyes, Chair
Wifredo Gort, Vice Chair
Ken Russell, Board Member, District Two
Joe Carollo, Board Member, District Three
Keon Hardemon, Board Member, District Five
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OMNI and MIDTOWN CRA OFFICE ADDRESS:
1401 N. Miami Avenue, 2"d Floor, Miami 33136
Phone: (305) 679-6868
www.miamicra.com
Midtown Community Redevelopment Agency
Meeting Agenda September 27, 2018
CALL TO ORDER
MCRA RESOLUTIONS
1. MCRA RESOLUTION
4755 A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE MIDTOWN
COMMUNITY REDEVELOPMENT AGENCY ("CRA"), WITH
ATTACHMENT(S), ACCEPTING AND APPROVING THE 2018 AMENDED
BUDGET OF THE MIDTOWN COMMUNITY REDEVELOPMENT AGENCY,
ATTACHED AND INCORPORATED AS EXHIBIT "A", IN THE AMOUNT OF
$6,628,202, FOR THE FISCAL YEAR COMMENCING OCTOBER 1, 2017
AND ENDING SEPTEMBER 30, 2018; DIRECTING THE EXECUTIVE
DIRECTOR TO TRANSMIT A COPY OF EACH BUDGET TO THE CITY OF
MIAMI AND MIAMI-DADE COUNTY.
2. MCRA RESOLUTION
4756 A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE MIDTOWN
COMMUNITY REDEVELOPMENT AGENCY ("CRA"), WITH
ATTACHMENT(S), ACCEPTING AND APPROVING THE 2019 PROPOSED
BUDGET OF THE MIDTOWN COMMUNITY REDEVELOPMENT AGENCY,
ATTACHED AND INCORPORATED AS EXHIBIT "A", IN THE AMOUNT OF
$6,818,257, FOR THE FISCAL YEAR COMMENCING OCTOBER 1, 2018
AND ENDING SEPTEMBER 30, 2019; DIRECTING THE EXECUTIVE
DIRECTOR TO TRANSMIT A COPY OF EACH BUDGET TO THE CITY OF
MIAMI AND MIAMI-DADE COUNTY.
ADJOURNMENT
Midtown Community Redevelopment Agency Page 2 Printed on 9/17/2018
Midtown Board of Commissioners Meeting
September 27, 2018
1.1
MIDTOWN COMMUNITY REDEVELOPMENT DISTRICT
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
Board Chair Manolo Reyes Date: August 31, 2018
and Members of the CRA Board
Pieter A. Bockweg
Executive Director
File: 4755
Subject: Midtown CRA Amended Budget for
FY '17-'18
Enclosures: 4755 Exhibit A
BACKGROUND:
It is recommended that the Board of Commissioners of the Midtown Redevelopment District
Community Redevelopment Agency ("CRA") approve and adopt the attached Resolution, with
attachment(s), adopting the 2018 amended budget of the Midtown Community Redevelopment
Agency in the amount of $6,628,202.00 for the fiscal year commencing October 1, 2017 ending
September 30, 2018. Further directing the Executive Director to transmit a copy of each budget
to the City of Miami and Miami -Dade County.
JUSTIFICATION:
The Interlocal Agreement requires the Midtown CRA to annually prepare a proposed budget
and to amend the budget so as to reflect the actual tax increment funds received in the fiscal
year.
This Resolution fulfills this requirement.
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1.1
City of Miami
Legislation
Midtown CRA Resolution
File Number: 4755
OMNI CRA
1401 N. Miami Avenue
Miami, FL 33136
www.miamicra.com
Final Action Date:
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE MIDTOWN
COMMUNITY REDEVELOPMENT AGENCY ("CRA"), WITH ATTACHMENT(S),
ACCEPTING AND APPROVING THE 2018 AMENDED BUDGET OF THE MIDTOWN
COMMUNITY REDEVELOPMENT AGENCY, ATTACHED AND INCORPORATED AS
EXHIBIT "A", IN THE AMOUNT OF $6,628,202, FOR THE FISCAL YEAR
COMMENCING OCTOBER 1, 2017 AND ENDING SEPTEMBER 30, 2018;
DIRECTING THE EXECUTIVE DIRECTOR TO TRANSMIT A COPY OF EACH
BUDGET TO THE CITY OF MIAMI AND MIAMI-DADE COUNTY.
WHEREAS, the Midtown Community Redevelopment Agency ("CRA") is responsible for
carrying out community redevelopment activities and projects within its Redevelopment Area;
and
WHEREAS, it is necessary to amend the 2018 budget to reflect the actual tax increment
funds received in the 2017-2018 Fiscal Year; and
WHEREAS, pursuant to an Interlocal Agreement, as amended, which the CRA is a party
to, a copy of each budget is to be transmitted to the City of Miami and Miami -Dade County;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF
THE MIDTOWN COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF MIAMI,
FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are
approved by reference and incorporated as if fully set forth in this Section.
Section 2. The Board of Commissioners of CRA hereby approves and adopts the 2018
amended budget for the fiscal year commencing October 1, 2017 ending September 30, 2018.
Section 3. The Executive Director is directed to transmit a copy of each 2018 amended
budget to the City of Miami and Miami -Dade County
Section 4. This Resolution shall become effective immediately upon its adoption
APPROVED AS TO FORM AND CORRECTNESS:
VICTORIA MENDEZ, GENERAL COUNSEL
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1.1.a
MIDTOWN CRA SPECIAL REVENUE FUND BUDGET
FY 2018
Amended
Budget
FY 2018
Proposed
Budget
Budget
Variance
Revenues
ADVALOREM TAXES - CITY OF MIAMI
$4,072,244
$4,072,446
-$202
ADVALOREM TAXES - MIAMI DADE COUNTY
$2,555,958
$2,555,958
$0
TOTAL REVENUES
$6,628,202
$6,628,404
-$202
Expenditures
INTERFUND TRANSFER (Administration - 1%
out of FY 2018 TIF revenue)
$66,282
$66,284
-$2
OTHER CURRENT CHARGES AND OBLIG
$6,561,920
$6,562,120
-$200
TOTAL EXPENDITURES
$6,628,202
$6,628,404
-$202
REVENUE LESS EXPENDITURES
Attachment: 4755 Exhibit A (4755 : Midtown CRA Amended Budget for FY '17 '18)
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1.1.a
INTERFUND TRANSFER $ 66,282
Available funds for administration in fiscal year 2018. (1% of total TIF collected)
OTHER CURRENT CHARGES AND OBLIGATIONS $ 6,561,920
Funds to be used for the payment of principal and interest on the bonds.
2018 TIF COMPUTATION
Multiply By 95%
City Operating Miliage - Current Year
County Operating Millage - Current Year
Gross Advalorem (City)
Gross Advalorem (County)
City Operating Millage
County Operating Miliage
Adjustment By Value Adjustment Board
Divided By 1000
Multiply By 95%
City Operating Millage (ESTIMATED)
County Operating Miliage (ESTIMATED)
Adjustment (City)
Adjustment (County)
City
FY 2017-2018
608,607,380
(29,281,592)
County
FY 2017-2018
608,607,380
(29.281,592)
579,325,788 579,325,788
579,326
550,359
7.4365
(2,822,743)
(2,823)
(2,682)
7.5710
579,326
550,359
4.6669
$4,092,748
(2,822,743)
(2,823)
(2,682)
4.6669
(20,504.44)
$2,568,473
(12,514.79)
$ 4,072,244 $ 2,555,958 $ 6,628,202
Attachment: 4755 Exhibit A (4755 : Midtown CRA Amended Budget for FY '17 '18)
2
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Midtown Board of Commissioners Meeting
September 27, 2018
1.2
MIDTOWN COMMUNITY REDEVELOPMENT DISTRICT
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
Board Chair Manolo Reyes Date: August 31, 2018
and Members of the CRA Board
Pieter A. Bockweg
Executive Director
File: 4756
Subject: Midtown CRA's Proposed Budget for
FY '18-'19
Enclosures: 4756 Exhibit A
BACKGROUND:
It is recommended that the Board of Commissioners of the Midtown Redevelopment District
Community Redevelopment Agency ("CRA") approve and adopt the attached Resolution, with
attachment(s), adopting the 2019 proposed budget of the Midtown Community Redevelopment
Agency in the amount of $6,818,257.00 for the fiscal year commencing October 1, 2018 and
ending September 30, 2019. Further directing the Executive Director to transmit a copy of each
budget to the City of Miami and Miami -Dade County.
JUSTIFICATION:
The Interlocal Agreement requires the Midtown CRA to annually prepare a proposed budget.
This Resolution fulfills this requirement.
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1.2
City of Miami
Legislation
Midtown CRA Resolution
File Number: 4756
OMNI CRA
1401 N. Miami Avenue
Miami, FL 33136
www.miamicra.com
Final Action Date:
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE MIDTOWN
COMMUNITY REDEVELOPMENT AGENCY ("CRA"), WITH ATTACHMENT(S),
ACCEPTING AND APPROVING THE 2019 PROPOSED BUDGET OF THE MIDTOWN
COMMUNITY REDEVELOPMENT AGENCY, ATTACHED AND INCORPORATED AS
EXHIBIT "A", IN THE AMOUNT OF $6,818,257, FOR THE FISCAL YEAR
COMMENCING OCTOBER 1, 2018 AND ENDING SEPTEMBER 30, 2019;
DIRECTING THE EXECUTIVE DIRECTOR TO TRANSMIT A COPY OF EACH
BUDGET TO THE CITY OF MIAMI AND MIAMI-DADE COUNTY.
WHEREAS, the Midtown 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 the redevelopment activities for Fiscal Year
2018-2019, the Board of Commissioners of the CRA must approve the proposed Tax Increment
budget for the fiscal year commencing October 1, 2018 ending September 30, 2019.
WHEREAS, pursuant to an Interlocal Agreement, as amended, which the CRA is a party
to, a copy of each budget is to be transmitted to the City of Miami and Miami -Dade County;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF
THE MIDTOWN COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF MIAMI,
FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are
approved by reference and incorporated as if fully set forth in this Section.
Section 2. The Board of Commissioners of CRA hereby approves and adopts the 2019
proposed budget for the fiscal year commencing October 1, 2018 ending September 30, 2019
respectively.
Section 3. The Executive Director is directed to transmit a copy of 2019 proposed budget
to the City of Miami and Miami -Dade County
Section 4. This Resolution shall become effective immediately upon its adoption
APPROVED AS TO FORM AND CORRECTNESS:
VICTORIA MENDEZ, GENERAL COUNSEL
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1.2.a
MIDTOWN CRA SPECIAL REVENUE FUND BUDGET
FY 2019
Proposed
Budget
FY 2018
Amended
Budget
Budget
Variance
Revenues
ADVALOREM TAXES - CITY OF MIAMI
$4,221,173
$4,072,244
$148,929
ADVALOREM TAXES - MIAMI DADE COUNTY
$2,597,084
$2,555,958
$41,126
TOTAL REVENUES
$6,818,257
$6,628,202
$190,055
Expenditures
INTERFUND TRANSFER (Administration - 1%
out of FY 2019 TIE revenue)
$68,183
$66,282
$1,901
OTHER CURRENT CHARGES AND OBLIG
$6,750,074
$6,561,920
$188,154
TOTAL EXPENDITURES
$6,818,257
$6,628,202
$190,055
REVENUE LESS EXPENDITURES
Attachment: 4756 Exhibit A (4756 : Midtown CRA's Proposed Budget for FY '18-'19)
1
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1.2.a
INTERFUND TRANSFER
Available funds for administration in fiscal year 2019. (1% of total TIF collected)
OTHER CURRENT CHARGES AND OBLIGATIONS
Funds to be used for the payment of principal and interest on the bonds.
2019 TIF COMPUTATION
Multiply By 95%
City Operating Millage - Current Year
County Operating Millage - Current Year
Gross Advalorem (City)
Gross Advalorem (County)
City Operating Millage
County Operating Millage
Adjustment By Value Adjustment Board
Divided By 1000
Multiply By 95%
City Operating Millage
County Operating Millage
Adjustment (City)
Adjustment (County)
$ 68,183
$ 6,750,074
City County
FY 2018-2019 FY 2018-2019
622,745,350 622,745,350
(29,281,592) (29,281,592)
593,463,758 593,463,758
593,464
563,791
7.5865
(7,684,625)
(7,685)
(7,300)
7.6465
593,464
563,791
4.6669
$4,277,197
(7,684,625)
(7,685)
(7,300)
4.6669
(56,024.46)
$2,631,154
(34,070.21)
$ 4,221,173 $ 2,597,084 $ 6,818,257
Attachment: 4756 Exhibit A (4756 : Midtown CRA's Proposed Budget for FY '18-'19)
2
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