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Home My WebLink About12776 Submittal-OMNI CRA-Funding for PAC Streetscape• • • SEOPW & Omni Board of Directors Meeting October 27, 2005 Item # 14 SOUTHEAST OVERTOWN/PARK WEST AND OMNI COMMUNITY REDEVELOPMENT AGENCIES INTER -OFFICE MEMORANDUM Chairman Johnny L. Winton and Members of the CRA Board Date: 10/21/05 File: 05-01200 Subject: Approval of Additional Funding for PAC Streetscape Pilot Project From: Frank K. Rollason Refercnc-es: Executive Director RECOMMENDATION: It is recommended that the Board of Directors of the Omni Community Redevelopment Agency (CRA) approve and adopt the attached Resolution authorizing the Executive Director to expend funds not to exceed an additional $3,500,000.00 for the Streetscape Improvement Pilot Project for the Performing Arts Center of Greater Miami; further, authorizing the Executive Director to disburse said funds either directly to vendors of the City of Miami Capital Improvement Projects (CIP) Department as determined by the Executive Director; further, amending CRA Resolution No. CRA-R-0021 to permit the Executive Director to allow the City CIP Department to access Omni Tax Increment Funds (TIF) on a Purchase Order basis as approved by the Executive Director which would, in turn, permit the City Finance Department to make payments directly to vendors as approved by both the City CIP Department and the Omni CRA. JUSTIFICATI9N: On May 25, 2005, the Omni Community Redevelopment Agency (CRA) Board of Directors approved and adopted CRA Resolution No. CRA-R-05-0021 (copy attached) which approved the expenditure of an initial $500,000 to get the project into the design phase and beginning construction phase. Since that time, the initial design and selection of treatments have taken place by City Capital Improvements Project (CIP) with a total estimate to complete the job of $4,000,000.00. Therefore, authorization is being sought for the appropriation of an additional $3,500,000.00 for this project. In addition, the initial CRA Resolution only allowed for the CRA to make payments directly to vendors. It has since been determined that the best way to handle the finances Is for the City CIP Department to issue the Purchase Orders and make the approved payments to the vendors through the City Finance Department. To accomplish this payment method, the Executive Director will permit City CIP to access Omni CRA Tax Increment Fund (TIF) accounts on a purchase order by purchase order basis and once that funding has been encumbered, City CIP will be able to make the payments to the vendor(s), directly. As a control mechanism, Omni CRA staff will be required to approve all invoices for payment prior to processing by the City Finance Department. FUNDING SOURCE: $3,500,000.00 Omni TIF Account No. 686001.590320.6 .860 entitled Omni Construction in Progress Enclosures: Supporting Documentation; Legislation FKR/eh Todd B. Hannon Clerk of the Board 7l6) SJbnI-d-DM\Jj au-1- f vv c SEOPW CRA or OMNI=CRA (if applicable) CRA Board Meeting Date: October 3E' 2005 CRA Section: Finance Brief description of C,A, Agenda Item: The Executive: Director requests the authorization..to.ex end funds not to exceed an additional $33500 000 for=the Streetscape ImtrovementsPilot Project for the. Performing Art_Center of Greater Miami Project Numlier- o YES, there are sufficient funds in Line Item: Account Code: 686001.590320.6.860 Amount: $3.500.000.00 a pike lle): ❑ NO (Complete the following source of funds .information): Amount budgeted in the line item: $ Balance in the line item: Amount needed in the line item: $ Sufficient funds will be transferred from the following line items: ACTION I ACCOUNTNUMBER T+ Project No./Index/Minor Object From To From To Comments: Approved by: G 2? ��" � Date: 1 CRA Executive Director/Designee APPROVAL or-- Todd B. Hannon Clerk of the Board Submitted into the public record in connection with Item NA.1 on 10/13/2022 Todd B. Hannon Clerk of the Board Legend PAC STREETSCAPEIMPPROVEMENTS �. ff CRA(FUNDED)-CIP FDOT FDOT (FUNDED) - CIP I" IPAC • PROJECT BUDGET STUS=! Original Estimated Budget $500,000.00 Project Name: PAC Streetscape.Pilot Project, Proiect Status: Design Phase Date of Report: 10/13/2005' Budget Revision and Date 5/262005 $4,000,000.00 Funding Source OMNI TIF OMNI TIF Funding Amount $500 000.00 $3 500 000.00 Appropriation, Ord./ Reso. No. and Date CRA-R-05-0021 on 5/26/05 Pending Board:approval on 10/21/05 Submitted into the public record in connection with Item NA.1 on 10/13/2022 Todd B. Hannon Clerk of the Board Expenditure -to -Date: _Remaining, "Fund€Balance Submitted into the public record in connection with Item NA.1 on 10/13/2022 Todd B. Hannon Clerk of the Board C Hall 500,Pan American Drive FL 33133 www.Cl.mtarnl ft us File,Nnmberi 05.01200 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY AUTHORIZING THE; EXPENDITURE OF ADDiTIONALFUNDS, iN,AN NOT TO EXCEED $3,30,0,0A0, FOR A NOT TO EXCEED PROJECT TOA AL OF 000iaga,A5tVittit STREETSCApE IMPROVEMENTS WITHIN AN OF $4, APPROXIMATE TWO BLOCK AREA URROUNDING THE P RFOART , CENTER OF GREATER MIAMI; RMING S DISBURSE SA;iD FUNDS AT` HIS DICRETiON, DIRECT Y TfJi V NDORTORTO` THROUGH PURCHASE ORDERS ISSUED BY THE CITY OF MIAMI ``` SOR DEPARTMENT OF CAPITAL IMPROVEMENT CPROJECTS, AMENDING RESOLUTION NO RA 05-O021 TO PROVIDE THAT $500,000' PREVIOUSLY.ALLOCATED MAYBE DISBURSED IN -fig!SAM ALLOCATING FUNDS FROM OMNI TAX INCREMENT FUND, "OMjNNER CONSTRUCTION IN'PROGRESS ACCOUNT CODE NO. 68t 001,59032 WHEREAS, the Omni Redevelopment District Community Redevelopment:A gene.' "C uI responsible for supporting and carrying out community, redevelopment activities and pro is ), is redevelopment area in accordance with the approved redevelopment plan ("Redevelo and projects within its pment Plan")'" WHEREAS, Section V.B. of the redevelopment plan, entitled "Capital imp t Paragraph;3, provides for "[p]ubiic infrastructure Improvements including, but not limited to util' i streets, sidewalks, parks, landscaping and upgrading of publicly -acquired sements » Projects, at , hies, cp easements; ;;and WHEREAS, on May 26, 2005, by Resolution No. CRA,R-05-0021, the Board authorized the expenditure of Directors of funds, in an amount not to exceed $500,000, to initiate the design and construction phase for streetscape improvements in the approximate two=block area immediately surrounding the Performing Arts Center of Greater Miami (the 'Project"); and exceed $3,500,000 to complete the Project; and WHEREAS, the Board of Directors wishes to authorize additional funding in an amount not to WHEREAS, the Board of Directors wishes to authorize the executive. Director to `issued by the City of Miami. Department Capital Improvement Projects; project funds directly to vendors or through purchase ordersa disburse all P ent of NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS REDEVELOPMENT AGENCY OF THE CITY MiAMi, FLORIDA: REDEVELOPMENT DISTRICT COMMUNITY ROF THE OMNI OF Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by City ofMTam! Final Action Date: Page 1 af2 Primed On: 10/15/2005 File Number 0501200.- reference and incorporated herein as if fully set forth in this Section Submitted into the public record in connection with Item NA.1 on 10/13/2022 Todd B. Hannon Clerk of the Board Section 2 The expenditure of additional funds, man amount not to exceed $3;5.00,000, fora not to exceed project total of $4,000,000, for the streetscape improvements within an approximate two=block area surrounding the Performing Arts Center of Greater Mlent is authonzed • Section 3, The Executive Director is authorized to disburse said funds, at his discretion, directly to vendors or through purchase orders issued by the City of Miami Department of Capital-Improvenint Projects. Section 4. CRA Resolution No. CRA-05 0021 is amended to provide that the $500,000 previously allocated may be disbursed in the same manner:` Section 5. Funds are to be allocated from OMNI Tax Increment Fund, "Omni Construction in Progress," Account Code No. 686001.590320.6.860: Section 6. This Resolution shall become effective immediately upon its adoption. APPROVED AS TO FORM AND CORRECTNESS: JORGE ER ANDEZ GENERAL COUNSEL City ofM Monti Page 2 of? Printed On: 10/l5/205