HomeMy WebLinkAboutMCRA 2019-09-12 Agenda PacketCity of Miami
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
Meeting Agenda
Thursday, September 12, 2019
12:00 PM
(OR THEREAFTER)
City Hall
3500 Pan American Drive
Miami, FL 33133
Midtown Community Redevelopment Agency
Manolo Reyes, Chair, District Four
Wifredo (Willy) Gort, Vice Chair, District One
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, 2nd Floor, Miami 33136
Phone: (305) 679-6868
www.miamicra.com
Midtown Community Redevelopment Agency
Meeting Agenda September 12, 2019
CALL TO ORDER
APPROVING THE MINUTES OF THE FOLLOWING MEETING(S):
1. MIDTOWN COMMUNITY REDEVELOPMENT AGENCY - REGULAR - SEP
27, 2018 12:00 PM
MCRA RESOLUTION(S)
1. MCRA RESOLUTION
6227 A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE MIDTOWN
COMMUNITY REDEVELOPMENT AGENCY ("CRA"), WITH
ATTACHMENT(S), ACCEPTING AND APPROVING THE 2020 PROPOSED
BUDGET OF THE CRA, ATTACHED AND INCORPORATED AS EXHIBIT "A",
IN THE AMOUNT OF $8,883,704.00, FOR THE FISCAL YEAR
COMMENCING OCTOBER 1, 2019 AND ENDING SEPTEMBER 30, 2020;
DIRECTING THE EXECUTIVE DIRECTOR TO TRANSMIT A COPY OF
EACH BUDGET TO THE CITY OF MIAMI AND TO MIAMI-DADE COUNTY.
ADJOURNMENT
Midtown Community Redevelopment Agency Page 2 Printed on 8/26/2019
Midtown Board of Commissioners Meeting
September 12, 2019
1.1
MIDTOWN COMMUNITY REDEVELOPMENT DISTRICT
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Manolo Reyes
and Members of the CRA Board
From:
Pieter A. Bockweg
Executive Director
Date: August 5, 2019 File: 6227
Subject: Midtown CRA's Proposed Budget for
FY '19-'20
Enclosures: 6227 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 2020 proposed budget of the Midtown
Community Redevelopment Agency in the amount of $8,883,704, for the fiscal year
commencing October 1, 2019 ending September 30, 2020. Further directing the
Executive Director to transmit a copy of the 2020 proposed 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
OMNI CRA
1401 N. Miami Avenue
Miami, FL 33136
www.miamicra.com
File Number: 6227 Final Action Date:
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE MIDTOWN
COMMUNITY REDEVELOPMENT AGENCY ("CRA"), WITH ATTACHMENT(S),
ACCEPTING AND APPROVING THE 2020 PROPOSED BUDGET OF THE CRA,
ATTACHED AND INCORPORATED AS EXHIBIT "A", IN THE AMOUNT OF
$8,883,704.00, FOR THE FISCAL YEAR COMMENCING OCTOBER 1, 2019 AND
ENDING SEPTEMBER 30, 2020; DIRECTING THE EXECUTIVE DIRECTOR TO
TRANSMIT A COPY OF EACH BUDGET TO THE CITY OF MIAMI AND TO 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, 2019 ending September 30, 2020; and
WHEREAS, pursuant to an Interlocal Agreement dated May 28, 2004, as amended, on
June 30, 2005, which the CRA is a party to, a copy of each budget is to be transmitted to the
City of Miami and to Miami -Dade County;
NOW, THEREFORE, BE IT RESOLVED BY THE MIDTOWN COMMUNITY
REDEVELOPMENT AGENCY ("CRA") 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 the CRA hereby approves and adopts the
2020 proposed budget for the fiscal year commencing October 1, 2019 ending September 30,
2020.
Section 3. The Executive Director is directed to transmit a copy of the 2020
proposed budget to the appropriate officials of the City of Miami and of Miami -Dade County.
Section 4. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND CORRECTNESS:
(24)
VICTORIA MENDEZ, GENERAL COUNSEL
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1.1.a
MIDTOWN CRA SPECIAL REVENUE FUND BUDGET
FY 2020
Proposed
Budget
FY 2019
Proposed
Budget
Budget
Variance
Revenues
ADVALOREM TAXES - CITY OF MIAM I
$5,494,758
$4,221,173
$1,273,585
ADVALOREM TAXES - M IAM 1 DADE COUNTY
$3,388,946
$2,597,084
$791,862
TOTAL REVENUES
$8,883,704
$6,818,257
y
$2,065,447
Expenditures
INTERFUND TRANSFER (Administration - 1% out
of FY 2020 TIF revenue)
$88,837
$68,183
$20,654
OTHER CURRENT CHARGES AND OBLIG
$8,794,867
$6,750,074
$2,044,793
TOTAL EXPENDITURES
$8,883,704
$6,818,257
$2,065,447
REVENUE LESS EXPENDITURES
1
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1.1.a
1NTERFUND TRANSFER $ 88,837
Available funds for administration in fiscal year 2020. (1% of total TIF collected)
OTHER CURRENT CHARGES AND OBLIGATIONS $ 8,794,867
Funds to be used for the payment of principal and interest on the bonds.
2020 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)
City County
FY 2019-2020 FY 2019-2020
795,441,747 795,441,747
(29,281,592) (29,281,592)
766,160,155 766,160,155
766,160
727,852
7.5665
(1,774,406)
(1,774)
(1,686)
7.4365
766,160
727,852
4.6669
$5,507,293
(1,774,406)
(1,774)
(1,686)
4.6669
(12,536)
$3,396,813
(7,867)
$ 5,494,758 $ 3,388,946 $ 8,883,704
2
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