HomeMy WebLinkAboutOMNI CRA 2022-09-08 Agenda PacketCity of Miami
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
Omni
C R A
Meeting Agenda
Thursday, September 08, 2022
9:30 AM
(OR THEREAFTER)
City Hall
3500 Pan American Drive
Miami, FL 33133
OMNI Community Redevelopment Agency
Alex Diaz de la Portilla, Chair, District One
Joe Carollo, Vice Chair, District Three
Ken Russell, Board Member, District Two
Manolo Reyes, Board Member, District Four
Christine King, Board Member, District Five
OMNI CRA OFFICE ADDRESS:
1401 N. Miami Avenue, 2"d Floor
Miami, FL 33136
Phone: (305) 679-6868
www.miamicra.com
OMNI Community Redevelopment Agency Meeting Agenda September 8, 2022
CALL TO ORDER
OMNI CRA RESOLUTION(S)
1. OMNI CRA RESOLUTION
12465 A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE OMNI
REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY
("CRA"), WITH ATTACHMENT(S), APPROVING AND ADOPTING THE CRA'S
PROPOSED GENERAL OPERATING BUDGET AND TAX INCREMENT
FUND BUDGET FOR THE FISCAL YEAR COMMENCING OCTOBER 1,
2022, AND ENDING SEPTEMBER 30, 2023; DIRECTING THE EXECUTIVE
DIRECTOR TO TRANSMIT A COPY OF THE BUDGET TO THE CITY OF
MIAMI AND MIAMI-DADE COUNTY.
ADJOURNMENT
OMNI Community Redevelopment Agency Page 2 Printed on 8/23/2022
OMNI Board of Commissioners Meeting
September 8, 2022
1.1
OMNI REDEVELOPMENT DISTRICT
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
Board Chair Alex Diaz de la Portilla Date: August 18, 2022
and Members of the CRA Board
From: H. Bert Gonzalez
Executive Director
File: 12465
Subject: Approving Omni CRA's General
Operating Budget & Tax
Increment Fund Budget for FY
'22-'23
Enclosures: 12465 Exhibit A
BACKGROUND:
It is recommended that the Board of Commissioners of the Omni Redevelopment
District Community Redevelopment Agency ("CRA") approve and adopt the attached
resolution, with attachment(s), adopting the proposed Omni CRA's General Operating
Budget and Tax Increment Fund Budget, for the fiscal year commencing October
1,2022, and ending September 30, 2023, and 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 OMNI CRA to annually prepare a proposed
budget and transmit same to City of Miami and Miami Dade County.
This Resolution fulfills this requirement.
Packet Pg. 3
!ice
Omni
CRA
City of Miami
Legislation
OMNI CRA Resolution
OMNI CRA
1401 N. Miami Avenue
Miami, FL 33136
www.miamicra.com
File Number: 12465 Final Action Date:
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE OMNI
REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY ("CRA"),
WITH ATTACHMENT(S), APPROVING AND ADOPTING THE CRA'S PROPOSED
GENERAL OPERATING BUDGET AND TAX INCREMENT FUND BUDGET FOR THE
FISCAL YEAR COMMENCING OCTOBER 1, 2022, AND ENDING SEPTEMBER 30,
2023; DIRECTING THE EXECUTIVE DIRECTOR TO TRANSMIT A COPY OF THE
BUDGET TO THE CITY OF MIAMI AND MIAMI-DADE COUNTY.
WHEREAS, the Omni Redevelopment District 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 Fiscal Year 2022-2023 redevelopment
activities, the Board of Commissioners must approve the CRA's proposed General Operating
Budget and Tax Increment Fund Budget ("Budget") for the Fiscal Year commencing October 1,
2022, and ending September 30, 2023 ("Fiscal Year"); and
WHEREAS, as part of the approval of the Fiscal Year Budget, the CRA hereby
deobligates the unused portion of the funds allocated to Revran S Maharanie Lincoln for the
property located at 175 NW 14th Street as previously authorized by CRA Resolution No. CRA-
R-17-0033; and regarding the removal of the requirement for tables; and
WHEREAS, the CRA's Budget is in the total amount of $80,460,567.00 for the Fiscal
Year; and
WHEREAS, as part of the Budget, the Executive Director of the CRA shall receive an
annual salary of Two Hundred Thousand Dollars. This adjustment does not increase the total
"Regular Salary" budget amount authorized for the previous year; and
WHEREAS, a copy of the Budget is required to be transmitted to the City of Miami
("City") and Miami -Dade County ("County");
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF
THE OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY 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 herein as if fully set forth in this Section.
Section 2. The Executive Director's salary is adjusted to reflect an annual amount of Two
Hundred Thousand Dollars as stated herein.
Section 3. The Budget for the Fiscal Year, attached and incorporated as Exhibit "A", is
approved and adopted.
1.1
City of Miami Page 2 of 3 File ID: 12465 (Revision:) Printed On: 8/23/2022
Packet Pg. 4
1.1
Section 4. The Executive Director is directed to transmit a copy of the budget to the City
and the County.
Section 5. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND CORRECTNESS:
VICTORIA MENDEZ, GENERAL COUNSEL
City of Miami Page 3 of 3 File ID: 12465 (Revision:) Printed On: 8/23/2022
Packet Pg. 5
EXHIBIT A
1.1.a
OMNI TAX INCREMENT FUND BUDGET
FY 2023
PROPOSED
BUDGET
FY 2022
ADOPTED
BUDGET
BUDGET
VARIANCE
REVENUES
CITY OF MIAMI - TAX INCREMENT
$18,777,937
$18,191,428
$586,509
MIAMIDADECOUNTY- TAXINCREMENT(ORIGINALBOUNDARIES)
$11,488,327
$11,070,284
$418,043
CITY OF MIAMI - TAX INCREMENT (2009 ADDITION EXPANDED BOUNDARIES)
$1,174,451
$923,665
$250,786
MIAMI DADE COUNTY - TAX INCREMENT (2009 ADDITION EXPANDED BOUNDARIES)
$718,388
$562,155
$156,233
Total TIF Revenues $32,159,103
2020 FUND BALANCE LOAN SERIES 2018 A and 2018 B (Funds held by Bank United)
$9,840,547
$11,786,890
($1,946,343)
TRANSFER FROM MIDTOWN CRA (Administration)
$120,324
$114,723
$5,601
RENT INCOME Fire House Market ($14,400/month)
$172,800
$100,000
$72,800
2023 CHILDREN TRUST CONTRIBUTION
$1,256,759
51,150,560
$106,199
2022 ESTIMATED FUND BALANCE
$36,911,034
$22,631,839
$14,279,195
TOTAL -REVENUE
$80,460,567
$66,531,544
$13,929,023
REDEVELOPMENT EXPENDITURES
ACCOUNTING AND AUDIT
$26,700
$15,000
$11,700
PROFESSIONAL SERVICES - OTHER
$425,920
$425,920
$0
OTHER CONTRACTUAL SERVICES
$637,987
$300,000
$337,987
INTERFUNDTRANSFER (Debt Service)
$2,817,970
$2,815,196
$2,774
INTERFUND TRANSFER (Grant)
5812,500
$812,500
$0
OTHER CURRENT CHARGE
$0
50
50
OTHER GRANTS AND AIDS
$37,499,833
$38,322,960
($823,127)
ADMINISTRATIVE EXPENDITURES
REGULAR SALARIES
$930,000
$1,058,540
(5128,540)
FICA TAXES
$71,145
$77,857
($6,712)
LIFE AND HEALTH INSURANCE
$130,000
$130,000
$0
RETIREMENT CONTRIBUTION
$50,000
$50,000
50
FRINGE BENEFITS
$13,200
$54,500
($41,300)
OTHER CONTRACTUAL SERVICE
$140,000
$140,000
50
TRAVEL AND PER DIEM
530,000
$30,000
$0
UTILITY SERVICE
$20,300
$20,300
$0
INSURANCE
$115,000
$115,000
$0
OTHER CURRENT CHARGE
$234,763
5236,617
($1,854)
SUPPLIES
$10,000
$10,000
$0
OPERATING SUPPLIES
$10,000
$10,000
$0
SUBSCRIPTION MEMBERSHIP
$17,000
$17,000
$0
MACHINERY AND EQUIPMENT
525,000
$6,000
$19,000
ADVERTISING
$30,000
$30,000
50
RENTAL AND LEASES
$3,600
$3,600
$0
POSTAGE
$2,000
$2,000
$0
REPAIR/MAINTENANCE - OUTSIDE
$2,000
$2,000
$0
INTERFUND TRANSFER
$18,000
$18,000
$0
Total Administrative Expenditures $1,852,006
RESERVE FOR 2007 GLOBAL AGREEMENT (TUNNEL)
$4,084,633
$4,084,633
$0
2023's RESERVE FOR 2007 GLOBAL AGREEMENT (35 % PAC)
$11,255,686
$0
$11,255,686
2022's RESERVE FOR 2007 GLOBAL AGREEMENT (35 % PAC)
$10,761,636
$10,761,636
50
2023's RESERVE FOR INTERLOCAL CHILDREN'S TRUST
$1,256,759
$1,150,560
$106,199
PAYMENT TO CITY OF MIAMI FOR MAURICE FERRE PARK
$3,000,000
$3,000,000
50
Total Reserve for obligations with other Commas $30,353,714
RESERVE FOR MIDTOWN ADM EXPENDITURES
$120,324
$114,724
$5,600
RESERVE FOR SECURITY DEPOSIT - MEC
$125,000
$125,000
50
RESERVE FOR SECURITY DEPOSIT- 1401 GROUP LLC
$40,000
$40,000
$0
RESERVE FOR CAPITAL EXPENDITURES (Funds collected s1,691,232Ph,.202rsfIre Houle Market Rent $171,800)
$1,864,032
$1,354,349
5509,683
RESERVE - BILLBOARD (RENT COLLECTED)
$284,273
50
$284,273
RESERVE FOR PAYMENT OF PROPERTY TAXES - MEC
$227,763
$229,617
($1,854)
RESERVE FOR UNSOLICITATED PROPOSALS
$25,000
50
$25,000
Total Reserve for Other $2,666.392
2019 BUDGET RESERVE (Budget Surplus)
$28,893
$28,893
$0
2020 BUDGET RESERVE
$406,671
$406,671
$0
2021 BUDGET RESERVE
$532,471
$532,471
$0
2022 BUDGET RESERVE
$654,760
$0
$654,760
2023 BUDGET RESERVE
row enrestrIorted Reserve $3,342,543
$1,719,748
50
$1,719,748
TOTAL FUND BALANCE -
$80,460,567
$66,531,544
$13,929,023
A)
B)
C)
2023 TIF Revenue
2023 TIF Rev for Affordable Housing
% 2023 Budget for Affordable Housing
So
532,159,103
$3,215,910
10%
2023 TIF Revenue $32,159,103
2023 Administrative Expenditures $1,852,008
%Administrative Exp / 2023 TIF Revenue 6%
Budget Reserve (2019, 2020, 2021 and 2023) $3,342,543
Total 2023 Budget $80,460,567
% 2023 Budget Reserve / Total 2023 Budget 4.15%
So
Attachment: 12465 Exhibit A (12465 : Approving Omni CRA's General Operating Budget & Tax Increment Fund Budget for FY '22- 23)
Packet Pg. 6