Loading...
HomeMy WebLinkAboutMCRA-R-24-0001 Submittal-Vice Chair Carollo-Presentation3:35aoilla GI A < Anthony Balzebre +13059876573 10:38 AM Thursday, September 19, 2024 Q • • Hi Anthony. I hope you're doing well. Commissioner Carollo would like to meet with you tomorrow in our district office (1300 SW 12 Ave) at 1:30 p.m. in order to prepare for the Midtown CRA budget meeting. Please bring all relevant documentation to the meeting. Thank you. 16531 Submittal -Vice Chair Carollo-Presentation Submitted into the public record in connection with Item 1 on 9/26/2024 Todd B. Hannon Clerk of the Board Ortiz, William Submitted into the public record in connection with Item 1 on 9/26/2024 Todd B. Hannon Clerk of the Board From: Hannon, Todd Sent: Thursday, September 19, 2024 11:16 AM To: Ortiz, William Subject: FW: Midtown CRA FYI Todd B. Hannon City Clerk Office of the City Clerk City of Miami P: 305-250-5366 F: 305-858-1610 E: thannon@miamigov.com W: www.miamigov.com/cityclerk Attention: Al! communications (including email addresses) sent and received through the City of Miami's email system are considered public record. The Florida Public Records Act (FPRA) requires the City to make all public records available for inspection and to provide copies upon request. Please govern yourself accordingly. From: Balzebre, Anthony <ABalzebre@miamigov.com> Sent: Thursday, September 19, 2024 10:44 AM To: Hannon, Todd <thannon@miamigov.com> Cc: Ewan, Nicole <newan@miamigov,com>; Gibbs-Sorey, Domini <DGibbs@miamigov.com> Subject: Midtown CRA Good morning Mr. Clerk, I'd like to make you aware for your records, that this email shall serve as my resignation from the Executive Director position of the Midtown CRA effective September 19, 2024. Thank you, Anthony F. Balzebre i Paid to Executive Director in Midtown CRA FY23-24. • Salary = $40,000 • $3059 = FICA • $2000 = ICMA — Employer's Contribution (PENSION) • $2,400 = CeII Phone Allowance • $6,000 = Car Allowance • $1,153 = Guardian — Health Insurance • $5,623 = APL — Health Insurance • $25,867 = United Healthcare — Health Insurance Total salary and benefits = $86,102 Submitted into the public record in connection with Item 1 on 9/26/2024 Todd B. Hannon Clerk of the Board Salary as Executive Director for Midtown CRA + benefits = $86,102 Salary as Chief of Staff for Commissioner Damian Pardo $150,000 TOTAL = $236,102 Submitted into the public record in connection with Item 1 on 9/26/2024 Todd B. Hannon Clerk of the Board Exhibit "A" SEOPW GENERAL OPERATING TAX INCREMENT FUND BUDGET FY 2025 PROPOSED BUDGET FY 2024 PROPOSED BUDGET BUDGET VARIANCE REVENUES CITY OF MIAMI - TAX INCREMENT (ORIGINAL BOUNDARIES) $26,900,684 $25,078,551 $1,822,133 MIAMI DADE COUNTY - TAX INCREMENT (ORIGINAL BOUNDARIES) $17,261,802 $15,183,020 $2,078,782 CITY OF MIAMI - TAX INCREMENT (EXPANDED BOUNDARIES) $1,720,577 $1,796,294 ($75,717) MIAMI DADE COUNTY - TAX INCREMENT (EXPANDED BOUNDARIES) $1,108,226 $1,087,565 $20,661 CITY OF MIAMI - TAX INCREMENT (PARK WEST ADDITION) $2,072,829 $2,860,199 ($787,370) MIAMI DADE COUNTY - TAX INCREMENT (PARK WEST ADDITION) $1,339,640 $1,731,732 ($392,092) Totar 2025 TIF Ravenna $50,403,758 2024 ESTIMATED CONTRIBUTION FROM THE CHILDREN TRUST FUND $2,017,387 $1,824,080 $193,307 2024 ESTIMATED NON TIF FUND BALANCE $4,833,515 $0 $4,833,515 2024 ESTIMATED FUND BALANCE $43,211,618 $57,127,599 ($13,915,981) TOTAL REVENUE $100,466,278 $106,689,040 .($6,222,762) REDEVELOPMENT EXPENDITURES _ PROFESSIONAL SERVICES - LEGAL $200,000 $217,725 ($17,725) ACCOUNTING AND AUDIT $46,000 $35,000 $10,000 PROFESSIONAL SERVICES - OTHER $768,709 $646,263 $123,446 OTHER CONTRACTUAL SERVICES $1,500,000 $1,021,242 $478,758 DEBT SERVICE PAYMENT $4,502,500 $4,508,000 ($5,500) INTERFUND TRANSFER $15,967,569 $21,978,434 ($6,010,865) LAND $2,000,000 $16,435,000 ($14,435,000) CONSTRUCTION IN PROGRESS $1,641,657 $1,019,181 $622,476 OTHER GRANTS AND AIDS $63,943,606 $54,683,645 $9,259,961 TOTAL REDEVELOPMENT EXPENDITURES $90,569,041 $100,543,491 I ($9,974,450) REGULAR SALARIES (19 staff members) $2,333,188 $1,902,158 $431,1130 FICA TAXES $178,489 $145,515 $32,974 LIFE AND HEALTH INSURANCE $270,921 $245,921 $25,000 RETIREMENT CONTRIBUTION $428,684 $387,177 $41,507 FRINGE BENEFITS $55,700 $50,800 $4,900 OTHER CONTRACTUAL SERVICE $500,000 $120,230 $379,770 TRAVEL AND PER DIEM $65,000 $46,000 $20,000 UTILITY SERVICE $70,000 $69,000 $1,000 INSURANCE $310,626 $170,538 $140,087 OTHER CURRENT CHARGE $180,000 $87,579 $92,421 SUPPLIES $20,000 $20,000 $0 OPERATING SUPPLIES $10,000 $10,000 $0 SUBSCRIPTION M EMBERSHIP/TRAINING $15,000 $15,000 $0 MACHINERY AND EQUIPMENT $3,000 $3,000 $0 ADVERTISING $60,000 $45,000 $15,000 RENTAL AND LEASES 5647,000 $79,000 $568,000 POSTAGE $2,000 $2,000 $0 REPAIRIMAINTENANCE- OUTSIDE $2,000 $2,000 $0' INTERFUND TRANSFER $65,000 $65,000 $0 TOTAL ADMINISTRATIVE EXPENDITURES $5,216,607 $3,464,918 $.1,781,6891 Revenue Shortfall Reserve FY 2016 Carryover Fund Balance (Surplus) $240,000 $240,000 $0 FY 2017 Carryover Fund Balance (Surplus) $272,270 $272,270 $0 FY 2018 Carryover Fund Balance (Surplus) $321,755 $321,755 $0 FY 2019 Carryover Fund Balance (Surplus) $309,727 $309,727 $0 FY 2023 Carryover Fund Balance (Surplus) $748,087 $748,087 $0 FY 2024 Carryover Fund Balance (Surplus) $788,792 $788,792 $0 FY 2025 BUDGET RESERVE $2,000,000 $0 $2,000,000 TOTAL REVENUE SHORTFALL RESERVE $4,680,631 $2,680,631 $2,000,000 TOTAL FUND BALANCE $100,466,278 $106,689,040 ($6,222,762) $0 2025 TIF Revenue $50,403,758 2025 Administrative Expenditures $5,216,607 %© Administrative Exp ! 2025 TIF Revenue 10.35% 2025 Budget Reserve $4,684,631 Total 2025 Budget $100,466,278 % 2025 Budget Reserve / Total 2025 Budget 5% $0 Submitted into the public record in connection with Item 1 on 9/26/2024 Todd B. Hannon Clerk of the Board Exhibit A 11h Budget Update 8/12/202. OMNI TAX INCREMENT FUND BUDGET FY 2025 PROPOSED BUDGET FY 2024 ADOPTED BUDGET BUDGET VARIANCE REVENUES CITY OFMIAMI- TAXINCREMENT $23,653,239 $21,570,693 $2,082,541 MIAMI DADE COUNTY -TAX INCREMENT (ORIGINAL BOUNDARIES) $15,160,791 $13,184,684 $1,976,107 CITY OE MIAM9 -TAX INCREMENT(2009 ADDITION EXPANDED BOUNDARIES) $1,592,823 $1,402,595. $190,228 MiAMIDADE COUNTY - TAX INCREMENT (2009ADDITION EXPANDED BOUNDARIES) $1,023,902 $857,378 $165,524 Total TIF RevenUes 541,430,754 TRANSFER FROM MIDTOWN CRA (Administration) $139,181 $134,363 $4,818 RENT INCOME MECi$8,333/Manth/ $100,000 $100,000 $0 2025's ESTIMATED CHILDREN TRUST CONTRIBUTION $1,601,953 $1,434,138 $167,815 .2024's FUND BALANCE (NON TIF REVENUE SOURCES -FUNDS DERIVE FROM RENT COLLECTIONS) $1,980,073 $0 $1,980,073 2024's ESTIMATED FUND BALANCE $28,393,446 $24,015,373 $4,383,073 TOTAL REVENUE` $73,659,407 - $62,699,229 510951,178 REDEVELOPMENT EXPENDITURES - ACCOUNTINGANDAUDIT $30,000 $26,700 $3,300 PROFESSIONAL SERVICES • OTHER (Available funds for consulting agreements for specific period of tlme) $700,000 $500,926 $199080 OTHER CONTRACTUAL SERVICES (Available funds for service agreements for limited tfme frame to be provided on as needed basis( $700,000 $711,097 ($11,097) INTERFUND TRANSFER (Debt Service) $2,813,062 $2,817,239 ($4,177) INTERFUND TRANSFER (Grant) $812,500 $812,500 $0 LAND 55,009,600 50 $5,000,000 CONSTRUCTION IN PROGRESS $1,519,628 $0 $1,519,528 OTHER GRANTS AND AIDS $27,499,885 $22,641,072 $4,857,813 ADMINISTRATIVE EXPENDITURES REGULAR SALARIES $1,415,220 $886,800 $528,420 FICA TAXES $103,264 $67,840 $40,424 LIFE AND HEALTH INSURANCE $110,000 $80,000 530,090 RETIREMENT CONTRIBUTION $195,000 $50,000 $145,000 FRINGE BENEFITS $4,800 $4,800 $0 OTHER CONTRACTUAL SERVICE $140,000 $140,000 $0 TRAVEL AND PER DIEM $59,000. $30,009 $20,000 UTILITY SERVICE $20,300 $20,300 $0 INSURANCE $430,000 $219,518 $210,4132 OTHER CURRENT CHARGE $259,378 $249,378 $10,000 SUPPLIES $7,006 $7,600 $0 OPERATING SUPPLIES $10,000 $10,000 $0 SUBSCRIPTION MEMBERSHIP $10,000 $10,000 $0 MACHINERY AND EQUIPMENT $50,000 $25,000 $35,000 ADVERTISING $15,000 $15,000 $0 RENTAL AND LEASES $3,600 $3,600 $0 POSTAGE $2,000 $2,000 $0 REPAIR/MAINTENANCE - OUTSIDE $2,000 $2,000 $0 INTERFUND TRANSFER $60,000 $60,000 $0 Tole/ MEminl,tratree Esp endlt,,, $2,901.$53 _ 2025's RESERVE FOR 2007 GLOBAL AGREEMENT (TUNNEL) $3,992,662 $4,084,633 ($91,971) 2925's RESERVE FOR 2007 GLOBAL AGREEMENT (35 %PAC) $14,500,764 $12,955,374 $1,545,390 2025's RESERVE FOR INTERLOCAL CHILDREN'S TRUST $1,601,953 $1,434,138 $167,815 PAYMENT TO CITY OF MIAMI FOR MAURICE FERRE PARR $2,000,000 $5,900,000 ($3,000,000). TolekR Elmo Zen Obllr+noruwflh0lhar Government $22,095.379 Fgemle, RESERVE FOR MIDTOWN ADM EXPENDITURES $139,181 $134,363 $4,818 RESERVE FOR SECURITY DEPOSIT - MEC $125,000 $125,000 $0 RESERVE FOR SECURITY DEPOSIT- 1401 GROUP LLC $40,000 $40,000 $0 RESERVE FOR CAPITAL EXPENDITURES 0,.9n,wu.,,,ra52,saav73/ $1,980,073 $1,988,410 ($8,337) RESERVE • BILLBOARD (RENT COLLECTED( $284,273 5234,273 $0 RESERVE FOR PAYMENT OF PROPERTY TAXES -MEC $234,378 $234,378 $0 RESERVE FOR UNSOLICITATED PROPOSALS roto65n,,,a lo, Olh.1 $2,823.9% $25,000 $25,000 $0 2019 BUDGET RESERVE $28,893 $28,893 $0 2020 BUDGET RESERVE $466,671 $406,671 $0 2021 BUDGET RESERVE $532,471 $532,471 $0 2022 BUDGET RESERVE S654,760 $6$4,760 $0 2023 BUDGET RESERVE $3,108,217 $3,108,217 $0 2024 BUDGET RESERVE $1,764,101 52,269,883 ($505,782) 2025 BUDGET RESERVE ru,e ,grime Sho,lfOIER e, give $6,154465 $255,372 $0 $255,372 TOTAL FUND. BALANCE - - .. $73,650;407 $62,699,228 . $10,951,178 50 50 g0 B) C( 2025 Ti F Revenue 2025 TIF Rev for Affordable Housing % 2025 Budget for Affordable Housing 2025 TiF Revenue 2025 Administrative Expenditures %Adminfstrat£ve Exp / 2025 TIE Revenue Budget Reserve (2019.2023) Teta12025 Budget %2025 Budget Reserve / Total 2025 Budget $41,430,754 $4,143,075 10% $41,430,754 $2,902,563 7% $6,750,485 $73,650,407 9% Submitted into the public record in connection with Item 1 on 9/26/2024 Todd B. Hannon Clerk of the Board INTERFUND TRANSFER $134,363 Submitted into the public record in connection with Item 1 on 9/26/2024 Todd B. Hannon Clerk of the Board Available funds for administration in fiscal year 2024, (1% of total TIF collected $13,436,326) $ 134,363 (40,000) Salary of Executive Director $ (3,060) FICA $ (8,400) Fringe Benefits $ 82,903 Available for Other Adman strative Expenditures OTHER CURRENT CHARGES AND OBLIGATIONS $13,301,963 Available funds to be used to cover the annual debt obligation and carryover shortfall of past debt service obligations (CDD's debt issued/Construction of Parking Garage and Plaza) over available TIF revenues in past years. 2024's TIF COMPUTATION Muitlply By 9$% City Operating 1v11 ge - Current Year County Operating Miltage - Current Year Gross Avalere (City) Gross Avelsre (aunty) City Operating Miloge Caoniy Operating Mlllage ActJusiment By Value Adjustment 8aad Divided By 1000 Multiply By 95313 City Ope aiirg 1Aillegt County Operating hlillagc Adjustment (City) Adjustment (County) City County FY 2023-2024 1,235,287, 02'1 (29,281,592) FY 2023-2024 $1,235.207,921 (29,281,592) 1,206, 008, 329 $1,206,806,329 1.208,006 1,145,785 'T 5539 (39,147100) (39.145) (31,190) 7,5685 $1,20,006 $1,145,706 $5 $0,654, 549 (39,147,605) (39,148) (37,190) 5 (285,119) $5,240;459 (173,563) $8,359,410 $5,055,896 $; 3,436,325 FY 2024 $129,580 Midtown's Share - Administration ($40,000) Salary of Executive Director ($3,059) FICA ($2,000) ICMA - Employer's Contribution PENSION ($ 2,400) Cell Phoner Allowance ($6,000) Car Allowance ($1,1 53) Guardian - Health Insurance ($3,623) APL - Health Insurance ($25 867) United Healthcare - Health Insurance Submitted into the public record in connection with Item 1 on 9/26/2024 Todd B. Hannon Clerk of the Board TOTAL: $34,643 _1 Li_ P Submitted into the public record in connection with Item 1 on 9/26/2024 Todd B. Hannon Clerk of the Board `Political theater says Pardo of Miami Downtown Development's budgetflap Opinion draft b udgets. BY DAM I.AN PARDO UPDATED SEPTEMBER 25, 2024 4:41 PM have been a champion for more transparency from our government. 6