HomeMy WebLinkAboutComposite Exhibit AEXHIBITA
Wynwood Business Improvement District
FY 2025-2026 Proposed Budget
BUDGET ITEM
FY 25/26 BUDGET
(PROPOSED)
COMMENTS
BID Assessments
$1,650,000
FY'26Assessment roll based on estimated folios
Deferred Collections
$50,000
FY'26: Since the Wynwood Bid assessments is included in the Dade County Tax Roll the revenue received is
much higher that before. The Bid has outstanding folio assessment going back to 2023 and they can not be
collected and should be erased, as per City of Miami Legal Department.
Tree Trust/Parking Waivers
$420,000
FY'26: Based on puchase of 35 parking waivers at $12K each
Wynwood Works - 2023 PBTF Recipient (Affordable Housing)
$175,000
FY'26: The Wynwood works would receive $175,000 in FY'26 , the final retainer fee for the construction loan.
Total amount paid $3,500,000
View 29 - 2024 PBTF Recipient (Affordable Housing)
$4,000,000
FY'26: The BID's Public Benefit Committee adopted resolution vias Public Benefit Committee for the allocation
of $4,000,000 future development called View 29, located at 2901 NW 2nd Ave, 33127, for affordable housing
NRD-1 Wynwood Public Benefit subsidies and working in tandem with the City of Miami Housing Department.
Public Benefit Trust Fund (Publiic Space)
$6,553,200
FY 26 Revenue from developer contribirtions to the PIIFT
Other Revenue
$540,000
FY'26: revenue increase based on interest rate paid by Banesco
REVENUE GRAND TOTAL
$13,388,200
_. .
BID Office Staff and 2 Clean Team Members
$598,826
FY'26 includes salaries, taxes and benefits for Executive Director, Project Manager, Marketing Assistant,
Administrative Assistant, Planning Intern and 2 Clean Team members.
Insurance
$22,500
Office Rent, Supplies, Cleaning and utilities
$108,500
Professional Mgmt Fees, Audit
$60,000
FY'26: Bookkeeping and Annual Auditor Fees
Wynwood Clean Team
$195,959
Wynwood Clean Team Supplies
$40,000
Sidewalk Maintenance
$210,000
FY'26: Powerwashing, landscape care, illegal dumping, donations to public works, othersidewalk maintenance
Capital Initiatives
$7,497,415
FY'26: Land purchase, design services, permits, construction for two new plazas
Marketing & Advertisement
$480,000
FY'26: Marketing Strategy, Neighborhood and Business Promotion, Public Relations, Advertising, Events, Social
Media, Graphic Design, Collateral
Wynwood Works (Affordable Housing)
$175,000
FY'26: The Wynwood works would receive $175,000 in FY'26, the final retainer fee for the construction loan.
Total amount paid $3,500,000
View 29 (Affordable Housing)
$4,000,000
FY'26: The BID's Public Benefit Committee adopted resolution vias Public Benefit Committee for the allocation
of $4,000,000 future development called View 29, located at 2901 NW 2nd Ave, 33127, for affordable housing
NRD-1 Wynwood Public Benefit subsidies and working in tandem with the City of Miami Housing Department.
EXPENDITURE GRAND TOTAL
$13,388,200
Revenue Minus Expenditures
so
Wynwood Business Improvement District Proposed Budget 2025 2026
FY2021222Actual
, "42022-23Actual
... FY2023-24Actual
.- FY2024-25 Adopted
FY 2024-25 Projection
-FY2025.26 Proposed ...
Diiiereric
Number of Office Full -Time Positions
5
5
5
4
4
5
+1
Revenues
BID Assessments
$821,356
$850,000
$1,422,243
$1,496,353.00
$1,496,353.00
$1,650,000.00
$153,647.00
Deferred Collections
$0
$50,030
$156,028
$0.00
$0.00
$50,000.00
$50,000.00
Tree Trust/Parking Waivers - Restricted
$993,000
$366,000
$187,000
$0.00
$0.00
$420,000.00
5420,000.00
Wynwood Works (2023 recipient) Public Benefit Trust Fund - Affordable
Housing income
S0
$0
$0
$2,521,800.00
$2,521,800
$175,000
-$2,345,800.00
View 29 (2024 Recipient) Public Benefit Trust Fund - Affordable Housing
income NEW
$D
$0
$a
$0.00
$0.00
$4,000,000.00
$4,000,000.00
Public Benefit Trust Fund - Restricted
SD
$0
$0
$0
$0
$6,553,200
$6553,200.00
Other Revenue Interest Income - NEW
$7,370
$35,000
$23,000
$446,472.00
$446,472.00
$540,000.00
$93,528.00
RevenueErendiatat
$1,821,126
$1,301000:::
$1,.785,271.
4464 6225.0.0I•••:
$4,464,.525
$13,388,2170
$0,92.3,575
Expenditures
BID Office Staff, and (2) Clean Team Members
$424,334
$298,566
$295,000
S597,259.53
$597,260
$598,826
$1,566
Insure rice
$8,995
$0
$0
$21,383.00
$21,383
$22,500
Office Rent, Supplies, Cleaning and Utilities
581,586
$206,700
$193,000
$103,471.70
$65,000
$108,500
$5,028
Professional Mgmt Fees, Audit
$12,663
$0
$0
$99,976.00
$99,976
$60,000
-$39,976
Wynwood CJea Wing Team
$122,511
$198,000
$305,000
$183,180.93
$183,181
$195,959
$12,778
Wynwood Cleaning Team Supplies
$0
$0
$39,000
$23,334.58
$23,335
$40,000
$16,665
Sidewalk Maintenance
$250,000
$81,000
$150,000
$126,205,00
$126,205
$210,000
$83,795
Capital Initiatives:
$51,105
$205,000
$324,030
$102,500.00
$102,500
$7,497,415
$7,394,915
Marketing & Advertisement
$116,516
$361,600
$400,000
$365,700.56
$365,701
$480,000
$114,299
Wynwood Works (2023 recipient) Public Benefit Trust Fund -Affordable
Housing Income - Mandatory
$0
$0
$0
$2,571,800.00
$2,521,800
$175,000
-$2,346,800
View 29 (2024 recipient) Public Benefit Trust Fund - Affordable Housing
l ncome - Mandatory NEW
$0
$o
$o
$0.00
$0
$4,000,000
$4,000,000
Expenditure trandTotul
$1,067i884
$1,850,066
$1;706 oeo
$4,144,811.40
$4,106,340
$13,388,200
$9,243;389
Revenues Minus Expetidtures•
$753,846 ' .
$49;a6'6
$73,271
$319;814
:.$358,2285.-
$
-$319,814 ..
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Wynwood Business Improvement District Agenda
The Doris Suites - 114 NW 25 St. Miami, FL 33127
Date: August 21, 2025, at 3:00 PM
Board Members Present
Daniel Whyte, Vice Chairman
Amro Zakarni
David Lerner
Matthew Kuscher
Matthew Thomson
Board Members Absent
David Lombardi, Chairman
Dana Rhoden
Oliver Gross
Bruce Fischman
Others in Attendance
Jihan "Gigi" Soliman, City Attorney
William Kelley, Wynwood BID Executive Director
Bianca Ramos y Ramos, Wynwood BID
Kayla Ulloa, Wynwood BID
Pablo Delgado, Social4Wynwood
1. Roll Call of Directors
2. Approval of Previous Minutes- August 1st
• Minutes for the August 1st board meeting were reviewed and approved.
3. Public Comments
• No public comments were made at this time.
4. Introduce William Kelley: New WB1D Executive Director
• Daniel Whyte introduced William Kelley as the newly appointed Executive Director of the
Wynwood Business Improvement District. Mr. Kelley provided an overview of his professional
background and prior experience with the Village Alliance BID in Greenwich Village and
subsequently a Community Development Corporation in Manhattan, highlighting the skills and
knowledge he brings to the role. He expressed his enthusiasm for beginning his tenure in
Wynwood this week and shared his commitment to supporting the district's continued growth and
success.
5. Approval of Annual BID Budget 2025-2026
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• The budget for Fiscal Years 25/26 was reviewed and will be presented to the commission on
September l Oth, with a deadline of September 2nd for submissions.
• William Kelley discussed the revenue line items, focusing on interest from switching to Banesco
Bank and projections for disbursements and the Public Benefit Trust Fund. He clarified that the
interest is calculated across all accounts, including the Public Benefit Trust Fund, which is used
for specific projects like pocket parks and affordable housing initiatives. He also addressed the
projected increase in developer contributions to the Public Benefit Trust Fund and the need to
review upcoming projects for potential additional costs. He noted that assessment revenues are
static and not subject to increase this year, while insurance rates have been rising due to increased
coverage requirements.
• Matthew Thomson motioned to approve the fiscal year budget and send to the City Commission.
Matthew Kuscher seconded that motion.
6. New Business: Art Walk Event Budget
• David Lerner reported on the success of recent art walks, highlighting increased attendance and
gallery participation following improvements in marketing and organization. He presented a
budget overview of $5,300 covering advertising, influencer marketing, materials, and staffing,
and proposed additional funding to support street performances, DJs, live art, and expanded
marketing efforts. The board discussed the importance of enhancing the events to revitalize the
cultural scene, with Pablo Delgado and David agreeing to explore further strategies.
• Mr. Lerner noted the effectiveness of influencer marketing and content creation, with six
influencers reaching businesses who actively repost content. He emphasized the need for more
flyers, branding, and PR, with Dana confirming media coverage and agreeing to recirculate the
PR report. The board discussed repurposing flyers for the season (rather than for individual
weeks) and potentially hiring a local artist to design them.
• Matt Thomson motioned a one -month trial budget of $10,000 for marketing and art events, with
plans to review its effectiveness and determine whether to continue the monthly allocation
through December. David Lerner seconded the motion.
• A marketing committee meeting is scheduled for August 29 at 2:00 PM to further discuss
strategies, including business involvement, space -sharing opportunities, and the rollout of a QR
code program to highlight event activities.
7. Ratification of Reimbursement to BOXR Gym for Police Athletic League Title Fight: Sponsored by D5
Commissioner King
• City Attorney Jihan Soliman recommended ratifying the reimbursement to BOXR Gym for their
Police Athletic League event. William Kelley presented the matter, noting that the event took
place in May and that the BID had previously committed to a $10,000 sponsorship. Matt
Thomson made a motion to ratify the reimbursement, which was seconded by Amro Zakarin.
8. Adjournment