HomeMy WebLinkAboutSubstitution Memo from Bayfront Park Management TrustMILDRED AND CLAUDE PEPPER
BAYFROIT PARK
MANAGEMENT TRUST
301 N. BISCAYNE BOULEVARD, MIAMI, FL 33132
TELEPHONE: (305)358-7550 FAX: (305) 358-1211
TO: Honorable Mayor and Members of the City mmission
FROM: Raul Miro, Jr., Interim Executive Directo
DATE: September 19, 2025
RE: Substitution of Item BH.7 on the Septembe 25, 2025, City Commission
Second Budget Hearing Meeting: Resolution - Approve Annual Budget FY
2025-2026 for the Bayfront Park Management Trust
File No.: 17968
Item BH.7 on the September 25, 2025, City Commission Second Budget
Hearing Meeting Agenda proposes to approve and adopt the annual budget of the
Bayfront Park Management Trust for Fiscal Year 2025-2026.
The Resolution and Exhibit "A" to the Legislation is being substituted to update
certain line items with updated figures to reflect additional revenues and expenditures.
The attached memorandum titled "Summary of Changes to Budget Variance,
Comparison, Budget Overview and notes" dated September 17, 2025, provides additional
detail on the updated figures.
Enclosure(s)
cc. Arthur Noriega V, City Manager
Marie Gouin, Director, Office of Management & Budget
Miriam Santana, Agenda Coordinator
Todd B. Hannon, City Clerk
George K. Wysong Ill, City Attorney
I -1-q(ag SJoS w Mo,nA.o frnr C/14104 pi (vwvs -Tte-c-si
MILDRED AND CLAUDE PEPPER
BAYFRONT PARK
MANAGEMENT TRUST
301 N. BISCAYNE BOULEVARD, MIAMI, FL 33132
TELEPHONE: (305)358-7550 FAX: (305) 358-1211
MEMORANDUM
To: To the Honorable Mayor and the Members of the City Commission
From: Joseph Sosa:. Chief Financial Officer/ Deputy Executive Director
Date: September 17, 2025
Subject: Summary of Changes to Budget Variance, Comparison, Budget Overview and Notes
This memorandum outlines the revisions made to the Budget Variance, the year-to-year comparison, and the Budget
Summary by month for the proposed FY 2025/2026 budget.
1. Budget Variance and Comparison
• Income:
o BPMT — Concession (Line 3, Column 3) updated to $1,617,600, reflecting a increase of
S418,000 compared to the previously approved budget.
• Expenses:
o BPMT — Sponsored Events and Entertainment (Column 3) revised to $3,200,000, reflecting an
increase of $1,817,000 compared to the previously approved budget.
2. Budget Overview
• Income:
o BPMT — Concession (Row, Column 15) updated to $1,617,600, reflecting a increase of
$418,000 compared to the previously approved budget.
• Expenses:
o BPMT — Sponsored Events and Entertainment (Row, Column 15) revised to $3,200,000,
reflecting an increase of $1,817,500 compared to the previously approved budget.
3. Notes to the Proposed Budget
• General Revenue: Expanded details were added for each line item to provide greater clarity as requested.
• Administrative Expenses: Under BPMT — Sponsored Events and Entertainment, a budget adjustment
was made to the New Year's Eve event line item, increased to $2,800,000
Summary:
The primary changes consist of adjustments to BPMT Concession revenues (increased by $418,000) and
BPMT Sponsored Events and Entertainment expenses (increased by $1,817,500). Additional detail was
incorporated into the General Revenue notes, and a significant increase was made to the New Year's Eve
budget line item under Administrative Expenses.
a:.
0/ Deputy Executive Director
Raul Miro Jr.
Executive Dir ctor
City of Miami
Resolution
Legislation
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 17968 Final Action Date:
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
APPROVING AND ADOPTING THE AMENDED ANNUAL BUDGET AND
MASTERPLAN OF THE BAYFRONT PARK MANAGEMENT TRUST, IN THE
TOTAL AMOUNT OF THIRTY-ONE MILLION, FORTY-ONE THOUSAND,
SEVEN HUNDRED FIFTY-TWO AND 00/100 DOLLARS ($31,041,752.00),
ATTACHED AND INCORPORATED AS EXHIBIT "A," TO PROVIDE FOR THE
MANAGEMENT, OPERATIONS, MAINTENANCE, AND CAPITAL
IMPROVEMENTS OF THE MILDRED AND CLAUDE PEPPER BAYFRONT
PARK AND MAURICE A. FERRE PARK FOR THE FISCAL YEAR
COMMENCING OCTOBER 1, 2025, AND ENDING SEPTEMBER 30, 2026.
SPONSOR(S): Commissioner Miguel Angel Gabela
WHEREAS, the Bayfront Park Management Trust ("Trust") is a limited agency and
instrumentality of the City of Miami ("City") created pursuant to Ordinance No. 10348 adopted
November 19, 1987, as subsequently amended from time to time; and
WHEREAS, the Trust is responsible for directing, operating, managing, and maintaining
all aspects of Mildred and Claude Pepper Bayfront Park and Maurice A. Ferre Park (collectively,
"Parks"); and
WHEREAS, Section 38-109 of the Code of the City of Miami, Florida, as amended,
provides that the Trust shall submit its annual budget for the management, operation,
maintenance, and capital expenditures of the Parks to the City Commission for approval; and
WHEREAS, the governing body of the Trust reviewed and approved the Trust's annual
budget for Fiscal Year 2025-2026 in the total amount of Thirty Million, Six Hundred Twenty -
Three Thousand, Seven Hundred Fifty -Two and 00/100 Dollars ($30,623,752.00), on July 30,
2025 pursuant to Trust Resolution No. 25-55, for the management, operation, maintenance, and
capital expenditures for the Parks; and
WHEREAS, the Trust requests the approval by the City Commission of the amended
Budget, attached and incorporated as Exhibit "A," for Fiscal Year 2025-2026 in the total amount
of Thirty -One Million, Forty -One Thousand, Seven Hundred Fifty -Two and 00/100 Dollars
($31,041,752.00); and
WHEREAS, on July 10, 2025, the City Commission adopted Ordinance No. 14382
abolishing the Bayfront Park Management Trust effective January 1, 2026, and at such time the
powers and duties of the Trust shall revert to the City and the City shall resume responsibility for
the maintenance, operation and management of the Parks, and any funds budgeted, allocated,
appropriated, received, or contributed to the Trust for management, maintenance, and
operations of the Parks for Fiscal Year 2025-2026 shall be transferred to the City;
City of Miami
Page 1 of 2 File ID: 17968 (Revision:) Printed On: 9/17/2025
Flle ID: 17968 Enactment Number.
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION 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 as if fully set forth in this Section.
Section 2. The Trust's amended Budget and Masterplan for the management,
operation, maintenance, and capital improvements of the Parks in the total amount of Thirty -
One Million, Forty -One Thousand, Seven Hundred Fifty -Two and 00/100 Dollars
($31,041,752.00), attached and incorporated as Exhibit `A,° for the Fiscal Year commencing
October 1, 2025, and ending September 30, 2026, is approved and adopted.
Section 3. This Resolution shall become effective immediately upon its adoption and
signature of the Mayor.'
APPROVED AS TO FORM AND CORRECTNESS:
I If the Mayor does not sign this Resolution, it shall become effective at the end of ten (10) calendar days
from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become effective
immediately upon override of the veto by the City Commission.
City ofMann
Page 2 of 2 File ID: 17968 (Revision:) Printed on: 9/17/2025
Exhibit A
File ID 17968
BAYFRONT PARK
MIAMI
BAYFRONT PARK MANAGEMENT TRUST
OPERATING BUDGET
FISCAL YEAR 2025/2026
BAYFRONT PARK
MIAMI
TABLE OF CONTENTS
1. MEMBERSHIP
2. LETTER OF INTRODUCTION
3. RESOLUTION ADOPTING NEW BUDGET FOR
FISCAL YEAR 2025/2026
4. BUDGET VARIANCE AND COMPARISON FROM
PREVIOUS YEAR
5. BUDGET SUMMARY BY MONTH
6. NOTES TO PROPOSED BUDGET
7. CAPITAL IMPROVEMENT BUDGET
61
BAYFRONT PARK
MIAMI
CHAIRMAN
Commissioner Miguel Angel Gabela
TRUST MEMBERS
Christopher Penelas
Javier Banos
Marie Loussaint
Carlos Martell
Steven Smith
Pat Santangelo
Horacio Stuart Aguirre
Ana Matos
INTERIM EXECUTIVE DIRECTOR
Raul Miro
MIIDRED AND CLAUDE PEPPER
BAYFRONT PARK
MANAGEMENT TRUST
301 N. BISCAYNE BOULEVARD. MIAMI. FL 93132
TELEPHONE: (305)358-7550 FAX: (305) 358-1211
July 30, 2025
SUBJECT; Submission of the Bayfront Park Management Trust Operating Budget for
Fiscal Year 2025- 2026- Beginning October 1, 2025 and ending on September 30, 2026.
Dear City of Miami Commission:
Pursuant to Section 38-109 of the Code of the City of Miami, the Bayfront Park Management
Trust submits its annual operating and maintenance budget for Bayfront Park and Maurice
A. Ferre Park to the City Commission for approval.
Attached for your review and approval Is the Trust's Operating Budget for Fiscal Year 2025-
2026, covering the period from October 1, 2025, through September 30, 2026.
Please feel free to contact me if you have any questions.
Sincer
Rau'Miro
Inte m Executive Director
RMiroCalmiamigov.com
r,)
MILDRED AND
C L A
PEPPER
�7 l • `_
_ 1 - 3 ,fit
MANAGEMENT TRUST
301 N. BISCAYNE BOULEVARD, MIAMI, FL 33132
TELEPHONE: (305)35e-7550 FAX: (305) 358-1211
Resolution No. 25-55
A RESOLUTION OF THE BAYFRONT PARK MANAGEMENT TRUST ("TRUST") OF
THE CITY OF MIAMI, FLORIDA ("CITY"), APPROVING AND ADOPTING THE
PROPOSED ANNUAL BUDGET, ATTACHED AND INCORPORATED AS EXHIBIT A, IN
THE AMOUNT OF THIRTY MILLION, SIX HUNDRED TWENTY-THREE THOUSAND,
SEVEN HUNDRED FIFTY-TWO AND 00/100 DOLLARS ($30,623,752.00) TO PROVIDE
FOR THE MANAGEMENT, OPERATIONS, MAINTENANCE, AND CAPITAL
IMPROVEMENTS OF THE MILDRED AND CLAUDE PEPPER BAYFRONT PARK AND
MAURICE A. FERRE PARK FOR THE FISCAL YEAR COMMENCING OCTOBER 1,
2025, AND ENDING SEPTEMBER 30, 2026; DIRECTING THE EXECUTIVE DIRECTOR
TO TRANSMIT A COPY OF THIS RESOLUTION TO THE CITY OF MIAMI FOR
PLACEMENT ON THE CITY COMMISSION'S SEPTEMBER 13, 2025 FIRST BUDGET
HEARING MEETING AGENDA FOR THE CONSIDERATION AND APPROVAL BY THE
CITY COMMISSION OF THE TRUST'S PROPOSED BUDGET PURSUANT TO
SECTION 38-109 OF THE CODE OF THE CITY OF MIAMI, AS AMENDED.
Dated this 30th day of July, 2025
Comssioner Miguel Angel Gabela
Ch man, Bayfront Park Management Trust
BAYFRONT PARK
MIAMI
"EXHIBITA & B"
BUDGET VARIANCE AND COMPARISON FROM
PREVIOUS YEAR
Bayfront Park Management Trust Corporation
Operating Budget
October 2026 - September 2026
"Exhibit A"
Budget Variance
Actual 0911 2024 - Forecast July 1 2023 - Proposed Budget Approved Budget Proposed vs Prior
June 30, 2025 !bpi 30, 2023 2025/202$ 2024/2025 Year Budget
bcan
BPMT - ANPNREATNER OPERATIONS & MOMT. 577,206.01 259,73522 1002241.00 1,002,1/1.00
BPMT- BOAT DOCK INCOME 011,357A2 27,757.00 792,00100 79201000
BPMT -CONCESSIONS 1,000A114.51 299.099.97 101700.0 1,190.0000 410.000/0
BPMT- EVENT RENTAL INCOME 2044,14400 • 2,412,501.00 2,402.500.N
BPMT - RU0 4 VIDEO LOCATION RENTAL 7,00000 30,00000 30 000.00
BRIT- GLOBAL AGREEMENT RE INARIRSEMENT 2,000A10.00 _ 2,000 0100 200000000
BPMT-GRANTS 561,74100 5,900.00 00,74100 000000.00 03,741.00
BPMT - MARQUEE REVENUE 174,73202 7000.00 30,00000 30,000.00
BPMT- NMCEUANEOUS REVENUES 256,114.07 3,75000 15,00104 16000.00
BPMT- PARKING OPERATION INCOME 1,100,421.17 32100000 132200000 1,22200000
BPMT- SKIVER SURCHARGE 210.56402 105,010.00 42000004 420,000.00
RUT -SPECIAL EVENT SPONSORSHIP 14000000 - 120,090.04 • 120,00000
Reaaw Ti,ses6Funds 20,310,070.0 20,300,970A0
Genesal Fend N0,000 0 - g5S,00000
1000Intone 1 10,114,1460 $ 1020.142.11 $ 31,041,1110 5 20.900110 1 1001,24101
Gross Prom $ 10,11404000 1 1.01,142.19 1 31041,702.0 $ 2009901110 $ /OM,74100
Expenses
BPMT-AUTOMOBLE EXPENSES 17076.13 6510.47 21,042.0 20,042.0
SPRIT • EQUIPMENT RENTAL 1022119 9,499.7 3600000 300011.0
SPAT- LAND5CAPINO & TREE MAINTENANCE 22100.39 03,12407 100,500.00 10000.00
BPMT-UCENUES 5 PERMITS 11j1509 3,000.00 12000.00 1200000
BRIT- OFFICE & ORAL ADMIN. EXPENSES 110.00.77 34,104.17 142,0000 142040.0
BP0T- OTHER BUSINESS EXPENSES 27,732.1S 12250.03 73,0100 7300009
OPIR - PAYROLL BENEFITS AND EXPENSES 1300.14.02 70.40103 202,72401 202,73400
SPIT • PAYROLL SALARIES & WAGES 77200.32 321,024.17 1,305011.00 1,306110.00
SPIT - PROFESSIONAL FEES 07,31140 203,17000 1,172,700.00 1.172,70000
BPMT • REPARS 4 MAINTENANCE 5110097S 41,552.91 10201200 102012.0
SPOT - SPONSORED EVENTS 4 ENTERTAINMENT 1,312001.10 300,000.00 3,200000.00 1,312,0000 1017,50000
BRIT • SU►PIES & MATERIALS 51079.21 15,539.91 62,1000 02,100.00
BPMT-UTIJIIES 613, 02.40 211,424.97 SI0,5000 /40.1000
CIF 41 Rani 5000000 509,00000
FICA Tam 114,71000 114,7000
ReOrama CatriOudons 155,00000 15600000
0040. 0 ay Resmva - TAIL 24100 104,24100
WWI apron 1 4,574,04255 $ 1,395,4011.40 3 4,11470101 1 5.702,7100 $ 3,451,41111
Nat Cperaee0Ineome $ $0211092.90 $ 130132021) $ 2101111,9111.01 1 240007310 4 a.20.2100 )
Other I eeme
Inbred bane 5 Dividends 519,415.90 241,25.03 1.04/00LN 1,0460011
016 r Imam
Taal 00wr5,come $ 110,4150 $ 251,019.03 1 1.040.000.00 0 1.010,10400 1
oweE panes
770017010 200 ERR/Ise 301,54513 10721250/ er173/01 171,73110
Total OSrrEspaues $ 201044.23 5 117,932.0 1 Q1,73Les $ ssmsa0 5 -
Qap4l ExpeMeaas 22004700 5 21,611.0010/ 1 2203001000 5530.01004)
NN OSae arcane $ p.12ms..$.1) $ 93,11635 S 421,317,71f/4 $ 52220,734001 1 SWIM
rM Income $ 2,10,02102 4 (27000906) 4 5011a/0.01 1 2.000000 1 (1,0070AQ
Bayfront Park Management Trust
Budget Template FY 2025-26 Proposed Budget
FY 2022-23 Actuali FY 2023-24 Actual
FY 2024-25 Adopted
FY 2024-25 Projection
FY 2025-26 Proposed
OifferencelNotes
Number of Full -Time Positions
16
15
16
21
17
+6
Are any positions funded In other budgets?
No
No
No
No
NO
If so, how much is in this budget?
No
No
No
No
No
If so, how much Is In the other budget?
No
No
No
No
N0
- -
Revenues
Amphiteather Operations & Mgt
5931,802
$993,373
$1,002,941
$1,002,941
$1,002,941
S0
Boat Dock Income
5576,881
$712,979
$792,000
$792,000
$792,000
-.
S0
Concessions
$802,257
$539,738
$1,199,600
$1,199,600
$1,617,600
'
-5418,000
Event Rental Income
$2,718,125
$3,032,326
$2,402,500
$2,402,500
$2,402,500
,;
•
50
Film & Video Location Rental
$41,391
528,500
$30,000
$30,000
$30,000
S0
Global Agreement Reimbursement
$2,000,000
$2,000,000
$2,000,000
$2,000,000
$2,000,000
SO
Grants
$1,112,951
$540,786
5535,000
$588,741
$588,741
-553,741
Micellaneous Revenues
Marquee Revenue
Parking Operation Income
Special Event Sponsorship
Reserve Transfer Funds
General Fund
Skyview Surcharge
$507,773
$532,263
$15,000
$15,000
515,000
SO
$15,000
$125,557
$30,000
530,000
$30,000
S0
$1,303,903
$1,412,399
$1,222,000
$1,222,000
$1,222,000
SO
$155,200
$165,150
50
$120,000
$120,000
-$120,000
58,106,221
.- __ _-_ _ -
516,198,244
$645,419
$20,300,970
$420,000
$20,300,970
$420,000
S20,300,970
$500,000
50
-5500,000
Return $500k to the City of Miami
$247,512
5420,000
50
Revenue Grand Total
$18,519,016 $26,926,734 $29,950,011
530,123,752 531,041,752
-51,091,741
Expenditures
Regular Salary and Wap,,es
$763,174 51,010,798
$1,305,0981
51,305,098
$1,305,098
`
$0
Payroll Benefits and Expenses
$164,486 i $206,488
5282,724
5282,724
$282,724
$0
City of Miami
$500,000
-5500,000
Return $500k to the City of Miami
FICA Taxes
-
-
Retirement Contributions
Ufe and Health Insurance
Workers' Compensation
Unemployment
, -
-
Professional Services
$506,379
$690,736
$1,172,700
$1,172,700
$1,172,700
$0
Sponsored Events & Entertainment
$1,270,174
$1,362,217
51,382,500
51,782,500
$3,200,000
-$1,817,500
Other Contractual Services
I
-'
-� s
Office &Gral Admin. Expensesants
$191210�
183,080
5142.040
$142 040 $142,040'
SO
Communications and Related Services
1
0
$374,186
$426,468
$162,012
5162,012
Postage
$162,012
Rentals and Leases
Repair and Maintenance Services
$0
Maintenance -Landscape
$71,541
$122,247
S198,500
$198,500
$198500
50
Utilities
5468,031
$623,317
5846,500
$846,500
$846,500
$0
Promotion Expense
Interest Income & Dividends
$0
$1,056,243
-$1045,000
-$1,045,000 -$1,045,000
$0
De.reciation Expense
5469,551
5509,488
$671,735
$671 735 $671,735
•
$0
Office Su.. lies:_
$67,838
$62,160
$62,160 $62,160
Operating Supplies
$32,283
S0
Automobile Expenses
$24,471
$32,736
$26,042
$26,042 $26,042
50
Uniforms/clothing
Landscape Related Supplies
F
Bayfront Park Management Trust
Budget Template FY 2025-26 Proposed Budget
FY 2022-23 Actual
FY 2023-24 Actual J FY 2024-25 Adopted] FY 2024-25 Projection] FY 2025-26 Proposed
Difference Notes
Number of Full -Time Positions
16
15
16
21
17
+6
Are any positions funded in other budgets?
No
No
No
No
N0
If so, how much is in this budget?
No
No
No
No
No
If so, how much Is In the other budget?
No
No
No
No
N0
Permits and Licenses
$399
56,504
512,000
$12,000
$12,000 S0
Equipment Rental
$11,292
$22,791
$38,000
S38,000
S38,000 $0
Contingency Reserve
$0
52,090,000
51,863,741
$864,241 S0
Other Business Expenses
$158,901
5236,671
573,000
S73,000
$73,000 S0
Capital Expenditures
S11,650,000
516,156,078
526,077,873
532,635,495
522,530,000
529,950,011
22,530,000
$30,123,752
522,530,000 $0
Expenditure Grand total _
531,041,752-52,317,500
BAYFRONT PARK
MIAMI
BUDGET SUMMARY BY MONTH
Bayfront Park Management Trust Corporation
Budget Overview: Budget_FY28J2&L - FY28 P&L
00101071020• 010100100$ 1020 1101001 16111110
bawl 0M1201• MUM July 110I• PMp1WOwl gal A/Me0W SWIM P600010 in Odor
Am* NU 00011111116 011261I 0111 SUSS ONM00 Jan 2M1 PMOMI MA1Y'1 10UMM May MM AM0011 AIM MOMS II40121 201410311 MOM Vow bailed
1PM1•/W/AIA1KII 0P1M,17011101MM7. A7,pJH 1A.T200 M,O/IAS M00M 0MI.02 01760 11,611.0 13,6700 00112 11./71.02 0$100 0,010I2 101170I2 13110,11 1.016011.00 1p1M/A0
11117•1100110CK MOM 011301q 0,7040 0,14110 11711210 172,10000 10,20.00 0010 71,0710 10020 6111100 1,11141 101/0M 1411160 0100 010400 7811010
WIT •00MC0110M 1600060.01 20310,17 11111010 10101.0 10010.06 10143110 1010.0 110000 110.10001 10p00 1141111.03 1000031 0400.6 1001040 1.11131100.00 1,000016 01600000
DPW •IV1171MI7ALI1M:0111 20434440 0030.0 1101100 0.11141 • 201,000 2021100
MIT •1011VIM LOCA11Wa1174L 7000 13340 110.00 1,000 20406 21000 21101/0 1,10616 210/0 2.00113 0611./1 2.100 DOOM 111/1100 111016
IP117. 0.000L4OK01MMN110100A1n 110006/1 2p000M . • • • 1.I10,60101 0001001
' PM •MAIM 1010110 ►.MOM 113I00.0 • , .. 114701M o,761.0 11010000 61J0/00
OMIT • 111110:1= 11W0* /7071212 7,110.0 2100p 2M/M 2,MI10 2,I081 230,03 2,11010 236101 UM/0 OWN LIMN 2,101.00 2.M0M 21110W 10101N
11MT• 10001111,161001.161101010161 MAUI 0/00M 11088 1.21110 1,3000 1100 1,2010 1,2110 10010 1100 14100 1,0000 1.10.60 1,111130 101020 1/100
I101T•0100$30/0MA10M moor 1.110g1.17 111600/0 101~6 717.11010 MAMA 107/M.M 10703010 46p010 167,II6M /071011 I00110M 167080/1 WPM 1070161 1111,00 1.010.01
1IM7.OKVM(AM3*000101 21011410 10,0010 31611.0 MINA 10100.01 216000 101000 081030 101016 0600100 0,010.00 AMA 1030110 AMU 0060011 020.0010
I►MT-/616300 IVIMT kOM01201► 14010000 /1110/0 0040 04100 1006116 1000.0 10.110.61 16.1106.111 11000 1010.01 14110.00 101010 f01048 10,100a0 1200001
11•000073.00000010 • 3001.00.0 0401700
1a11MM Puns • 111610.11 • 10011140
70Y14600 1 10.101*11 6 1101010 $ 012700 6 00/10Y $ 1100140 $ 711111.11 I 41734761 1 2112.0631 5 11116.711.0 110,1041 0 01011041 $ 41610171.1 6 117.1000 1 0M7/111 0 MM1.70M $ 20110411.10 $ 10111740
00•0•Pell 1 10.114.10116 6 1.10/0.10 1 1107110 1 00.710/2 6 1180.0240 6 70100141 / 417647A0 / 13701010 5 0074142 $ 0148141 6 010100 / 4407042 I 107,101.01 6 M0T01.M 0 1166171100 $ 11 01a1.M $ 1107414o
1y1111
11011•4170110000001111 0000 MA LO 011.17 1,100 010.17 4171.1/ 01017 01017 01017 017417 011017 01017 017017 017411 0000 111011
O M .104M0M7 001711. 0.010. 110011 4100 0,11617 1,1060 01017 1.100 1.100 01017 07017 01047 0101 07010 1,11011 70,0010 00101
OPMT• 1.11101310140 0Mel 100701000 1111011.36 0104? 111010 11010 1030/4? 11116146 1101.17 100117 1/14.6030 102110 16010 100011 1010141 1001117 1111111111 1111,6111106
1PIIT• MINUS 0PIIMT6 11211.11 11040 1101.0 140010 110011 11010 11100 1,1066 110,01 1,0116 1000 111110 110010 110.0 1210100 1210001
I1/1T • 00IC11000 AtMMl. 6211001 1161M.0 MAKI/ 11,116/7 11J1117 11.111.67 110117 111410 H,0011 11p117 11.316./7 1111117 11.661.61 11111M 1166111 1M1006 /M,OMII
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BAYFRONT PARK
MIAMI
NOTES TO PROPOSED BUDGET
MILDRED AND CLAUDE PEPPER
BAYFRONT PARK
MANAGEMENT TRUST
301 N. BISCAYNE BOULEVARD, MIAMI, FL 33132
TELEPHONE: (305)358-7550 FAX: (305) 358-1211
1 of 3
Subject: Detailed Breakdown of Revenue Line Items for FY 2025-2026 Proposed Budget
To the Honorable Mayor and the Members of the City Commission,
The Bayfront Park Management Trust Finance Department has provided more in-depth
information about the revenues in the proposed 2025-2026 budget compared to the previous
information submitted to the City of Miami Commission. This comprehensive report details all
revenue sources, including General Revenue, Other Income, and significant reserve transfer to
support the proposed budget total of $31,041,752. Each line item is supported by detailed
explanations of its sources. This enhanced transparency ensures the City Commission has a clear
understanding of the Trust's financial strategy to sustain operations, fund capital improvements,
and meet obligations for Bayfront Park and Maurice Ferre Park.
General Revenue
These represent the core operating revenues from park operations, events, agreements, and other
sources.
• Amphitheater Operation & Management (202): $1,002,941 This revenue it based on
the management agreement with Live Nation, which outlines operational and
management fees for the amphitheater. The total amount accounts for expected monthly
contributions (approximately $83,578 per month, adjusted for the full year), derived from
event hosting, ticketing, and facility management services provided under the contract.
No other sources contribute to this line item.
• Boat Dock Income (101): $792,000 Revenue based on North and South docks rental at
Bayfront Park and Maurice Ferre Park. The total is projected from lease agreements with
boat operators and users, including seasonal and year-round dockage fees. Breakdown
includes approximately $360,000 from Bayfront Park docks (based on usage patterns and
rates) and $432,000 from Maurice Ferre Park docks, reflecting higher demand or capacity
in the latter. Sources are solely from rental contracts, with no grants or external funding
included.
• Concessions (105): $1,617,600 Use fee based on agreements with park concessionaires
(Food Trucks), Billboards, and Antenna towers. This encompasses revenue from short-
term food truck vendors (approximately $177,600 from Bayfront Park concessions) and
long-term agreements (approximately $1,200,000 from billboards Worldwide Amherst
Media LLC and Crown Castle tower for $$240,000). Sources include percentage -based
use fees, fixed rental payments, and revenue shares from advertising and telecom
structures, projected from prior years' performance and contract terms.
• Event Rental Income (201): $2,402,500 Event Rental income is based on revenue
generated by the Ultra Music Festival as well as returning and other fitness events. The
MILDRED AN
CLAUDF PEPPER
BAYFRONT PARK
MANAGEMENT TRUST
301 N. BISCAYNE BOULEVARD, MIAMI, FL 33132
TELEPHONE: (305)358-7550 FAX: (305) 358-1211
2 of 3
total is derived from park rental fees (under sub -line 201.1), including base rentals, set-
up/load-out surcharges, and event -specific charges. Key sources include major events like
Ultra (contributing the bulk in March at approximately $2,080,000) and smaller recurring
events (e.g., $22,500 in April), with projections based on historical attendance, ticket
sales shares, and negotiated rental rates at Bayfront Park.
• Film and Video Location Rental (103): $30,000 Revenue based on prior years'
experience with film, video, and photo shoots in the parks. The total assumes monthly
rentals of approximately $2,500, sourced from location fees charged to production
companies for using park spaces. This includes permits for filming in scenic areas, with
no additional surcharges or grants; projections account for steady demand from media
productions in the Miami area.
• Global Agreement Reimbursement (311): $2,000,000 Funds to be used for Capital
Improvement only for Maurice Ferre Park, based on the agreement with different
Miami -Dade County and the Omni CRA. This total is a one-time or annual
reimbursement from intergovemmental agreements, where the Trust receives funds in
exchange for park enhancements that benefit the broader community. Sources are
exclusively from these public entity partnerships, with no private contributions.
• Special Events Grants (222): $588,741 Represents grants received for special events
from the City of Miami, Miami -Dade County, and the Miami DDA. The total is projected
from grant applications and awards for events like New Year's Eve and Fourth of July,
including funding for production costs, marketing, and community outreach. Sources
include municipal budgets (e.g., City of Miami contributions), county tourism grants, and
DDA economic development funds, calibrated to match historical grant levels and event
scales.
• Marquee Revenue (106): $30,000 Revenue based on prior years' experience with
marquee signage and displays in Bayfront Park. The total assumes monthly revenue of
approximately $2,500, sourced from advertising fees or sponsorships for prominent park
marquees. This includes contracts with advertisers for visibility during events and daily
operations, with no overlap from other concession or event lines.
• Miscellaneous Revenue (104): $15,000 Revenue based on previous years' experience
with various small sources not fitting other categories. The total is projected from ad -hoc
items like minor reimbursements (approximately $1,250 monthly), without specific
contracts but grounded in historical miscellaneous inflows.
• Parking Operation Income (107): $1,222,000 Revenue projection based on parking
operation and the agreement with the City of Miami for street parking. The total includes
fees from park lots and adjacent street spaces, sourced from daily/hourly rates, event
parking surcharges, and revenue -sharing with the City. Projections account for traffic
volume, event -driven spikes, and operational agreements.
• Skyview Surcharge: $420,000 Use fees based on surcharge agreement for the Skyview
wheel or similar attractions. The total is derived from percentage -based surcharges on
MILDRED AND CLAUDE PEPPEA
BAYFRONT PARK
MANAGEMENT TRUST
301 N. BISCAYNE BOULEVARD, MIAMI, FL 33132
TELEPHONE: (305)358-7550 FAX: (305) 358-1211
3 of 3
ticket sales or operations, sourced from the operator's agreement with the Trust. This
reflects projected visitor numbers and attraction popularity.
• Special Event Sponsorship (108): $120,000 Represents income received by an
organization, often nonprofits, government agency, or event organizer in exchange for
promotional benefits. The total is from sponsorship deals for events, including branding
rights, logos on materials, and on -site activations. Sources include corporate, nonprofit,
and public sponsors supporting park events.
Total General Revenue: $10,240,782 This aggregate represents the sum of all proposed general
revenue line items, providing the primary funding for operations before expenses.
NOT INCLUDING THE RESERVE TRANSFER FUNDS AND GENERAL FUND
• Return Fund to the City of Miami (BPRMT - Return Fund to the City of Miami): Proposed
$500,000. The amount is approved by the board to return the funds to the city from last
year's donation.
• Reserve Transfer Funds (Transfers Funds) — Proposed $20,300,970
Final Conclusion
The proposed budget for the Bayfront Park Management Trust for FY 2025-2026 totals
$31,041,752 fully supported by the comprehensive inclusion of all revenue line items. Each
revenue line item is derived from the provided budget documents and notes, with sources and
amounts validated to ensure accuracy, and a reserve transfer is included to align with the
specified total. This conclusion integrates the operational revenues, and a reserve transfer funds
to meet the Trust's financial needs for operations, capital improvements, and obligations.
•hS.sa:
0/ Deputy Executive Director
Date: September 16, 2025
Raul Miro 1r.
Executive Direc r
Administrative Expenses
BPMT-AUTOMOBILE EXPENSES
3326 Park Vehicle Maintenance and Repairs: Proposed $4,000. These funds will be used for
routine maintenance and repairs of the Park's pick-up trucks. This will include tires, tune-ups
and complete vehicle maintenance.
3330 Gator Maintenance & Repairs: Proposed $14,842. These funds will be used for
maintenance and repair of the Trust's five John Deere Gators.
3326.1 Park Vehicle Gas: Proposed $7,200. These funds will be used for gas expenses for all
our fleet.
BPMT-EQUIPMENT RENTAL
3328.1 Equipment Leasing & Rentals: Proposed $15,000. These funds will cover the cost of a
wide range of equipment rentals necessary for the ongoing maintenance of Bayfront and
Maurice Ferre Park.
3328.2 Equipment Repairs: Proposed $13,000. These funds will cover the cost of a wide
range of equipment repairs necessary for the ongoing maintenance of Bayfront and Maurice
Ferre Park.
3329 Miscellaneous Supplies: Proposed $10,000. These funds will allow designated staff
members to purchase miscellaneous supplies as the need arises.
BPMT-LANDSCAPING & TREE MAINTENANCE
3313.1.1 Tree Health Monitoring: Proposed $15,000 for Bayfront Park and Maurice Ferre
Park. These funds will be used to pay for professional services to monitor the health of our
trees.
3313.1.2 New Plants and Shrubs: Proposed $15,000. for Bayfront Park and Maurice Ferre
Park. These funds will be used to replace damaged or dying plants as needed.
3318 Fertilizer & Chemicals: Proposed $15,000. These funds will be used to fertilize the turf,
palms, shrubs and deciduous trees in Bayfront and Maurice Ferre Park.
3356 Facilities Cleaning Contractor: Proposed $88,500. Cleaning services are provided for
both parks.
4500 Landscaping Services: Proposed $85,000. Landscaping Maintenance for both parks.
BPMT-LICENSES AND PERMITS
5506 Permits: Proposed $12,000. For services provided to request permits for the office and
events.
BPMT-OFFICE AND GRAL. ADMIN. EXPENSES
1112 Computer Supplies and Software: Proposed $3,240. For the annual renewal of the
accounting software and other required add-ons.
1113 Courier: Proposed $500. These funds will be used to procure courier services.
1115 Equipment Rental/Maintenance: Proposed $3,000. These funds will be used for office
equipment rental, lease and maintenance contracts. Includes the postage machine and the
copier.
1116 Postage: Proposed $1,200. These funds will be used to purchase postage and the ren
1117 Printing: Proposed $2,500. These funds will be used to pay expenses related to printing.
1118 Office Supplies: Proposed $8,000. These funds will be used to purchase office supplies.
1119 Telephone and Cable Services: Proposed $5,800. These funds will be used to procure
telephones.
1125 Meeting Expenses: Proposed $16,800. These funds will be used for expenses
associated with the monthly Board Meetings and employee's appreciation meetings of the
Bayfront Park Management Trust.
1127 Business Expenses: Proposed $3,000. These funds will be used for general business
expenses.
1129 Property Insurance: Proposed $50,000. These funds will be used to purchase Property
Insurance for Trust property not adequately covered by the City of Miami Self Insurance Fund.
2222 Website Production and Design: Proposed $30,000. These funds will be used to pay for
website production and design services for the Bayfront Park Management Trust website.
3325 Uniforms: Proposed $12,000. These funds are used to purchase and maintain uniforms
for the park maintenance staff.
1111 Miscellaneous Expenses: Proposed $6,000. These funds will be used for miscellaneous
purchases of goods or services required during the year.
BPMT-PAYROLL BENEFITS AND EXPENSES
1106 Worker's Compensation Insurance: proposed $33,241. These funds will be used to
purchase workers' compensation insurance for Trust administrative employees.
1107 Health & Dental Insurance Contribution: Proposed $154,000. These funds will be used
to purchase health, dental and vision insurance for Trust employees.
1108 Life Insurance & Disability Contribution: Proposed $5,958. These funds will be used to
purchase life and disability insurance for Trust employees.
3308.1 Employees' Retirement Plan: Proposed $35,525. These funds will be used for the
Executive Director and employees' retirement plan.
3308.2 Employees Expense Allowance: Proposed $54,000. These funds will be used to give
each employee an allowance of $300.00 monthly to help with the rising cost of living.
BPMT-PAYROLL SALARIES AND WAGES
1100 Salaries and Wages Admin.: Proposed $463,358. This includes the salary of the
administrative employees who provide overall management for the Bayfront Park Management
Trust. Payroll costs of the administrative employees are proposed for $79,509.
2200 Salaries and Wages - Sp. Events: Proposed $123,492. This includes the salary of the
Special Events Manager as well as the consideration of a new Event Coordinator. Payroll costs
of the Event Dept. employees is proposed for $9,447.
2201 Salaries and Wages Maintenance: Proposed $484,623. This includes the potential hiring
of 3 new maintenance technicians and a new tree and garden expert. Payroll Cost is proposed
for $54,669, which includes the cost for the proposed overtime of $90,000.
BPMT-PROFESSIONAL FEES
1131 Bookkeeping Services: Proposed $95,800. These funds will be used for the Bayfront
Park Management Trust bookkeeping service.
1132 Audit: Proposed $27,500. These funds will be used to procure the annual audit of the
Trust's finances.
1138 Parking Attendant Service: Proposed $78,000. These funds will be use to pay extended
time for parking service.
3337 Alarm Monitoring Services: Proposed $2,400. These funds will be used for alarm
monitoring services in the administrative offices.
3352 Private Security: Proposed $725,000. These funds will be used to hire private secuaty
from an existing City of Miami contractor to provide 24-hour security in Bayfront Park and
Maurice Ferre Park.
3800.1.1 40 Year Recertification: Proposed $150,000 to be allocated for the 40 Year
Recertification due for the building at Bayfront Park.
3800.1.2 Board meeting Transcript Services: Proposed $12,000 to pay for the transcript
services provided at the board meetings.
3800.1.3 Land Surveys and Appraisals: Proposed $40,000. Funds to be allocated for land
assessments and surveys as required.
Merchant Processing Fees: Proposed $42,000. These funds are deducted from parking lot
income from the merchant company that services our card reading machines.
BPMT-REPAIRS & MAINTENANCE
3315 Fence and Site Improvements: Proposed $3,000. These funds will be used for expenses
associated with the maintenance of the fence around the property.
3317 Exterminator: proposed $3,500. These funds will be used for a contract exterminator, to
keep rodents and insects to a minimum in Trust facilities.
Sculptures Maintenance proposed $9,000. These funds will be used to maintain and upgrade
Bayfront and Maurice Ferre Parks' sculptures.
3324 Painting and Accessories: Proposed $20,000. These funds will be used to contract a
painting service provider and painting materials to paint the Bayfront Park Offices and around
both parks.
3331 Park Electrician Ongoing Maint.: Proposed $12,000. These funds will be allocated for
the need of electrical work around the office and Parks.
3332 Lift Station and Pump Services: Proposed $12,600. These funds will be allocated for
expenses related to the lift station and the pumps around both Parks.
3333 Electrical Maintenance Material: Proposed $18,000. These funds will be used for
receptacles and miscellaneous hardware related to the Bayfront Park electrical system. This will
cover most receptacles within park buildings, admin. Offices, service buildings and
amphitheater.
3349 General Plumbing Repair and Maintenance: Proposed $9,779. These funds will be
used for plumbing repair and maintenance throughout Bayfront Park, all restrooms, toilets,
sinks, and showers in the amphitheater, south end service building, light tower complex, and
administrative offices.
3350 Maintenance of Irrigation Pumps: Proposed $12,000. These funds will be used to
maintain the Park's irrigation pumps, located in the pump station adjacent to the Mildred &
Claude Pepper Fountain and the south -end service building.
3359 Repairs & Maintenance: Proposed $62,133. These funds will be used for unforeseen
expenses associated with both parks caused by rain, strong winds, etc.
BPMT-SPONSORED EVENTS & ENTERTAIMENT
Fourth of July: Proposed $400,000. These funds will be allocated for the 4th of July event.
New Year's Eve: Proposed $2,800,000 These funds will be allocated for the New Years event.
BPMT-SUPPLIES AND MATERIAL
3319 Signage: Proposed $6,000. These funds will be used for maintenance of existing signage
in Bayfront Park and Maurice Ferre Park.
3329 Miscellaneous Supplies: Proposed $12,000. These funds will be used to purchase
supplies and other materials needed around the office and parks.
3346 Cleaning Supplies: Proposed $9,000. These funds will be used to purchase cleaning
supplies and other materials needed to keep the park's administrative offices clean.
3346.1 Trash Bags: Proposed $9,000. These funds will be used to purchase trash bags for all
park needs.
3346.2 Hand Towels: Proposed $4,000. These funds will be used to purchase hand towels for
use in the park's restrooms.
3346.3 Toilet Tissue: Proposed $3,000. These funds will be used to purchase toilet tissue for
use in the park's restrooms.
3346.4 Hand Soap: Proposed $2,000. These funds will be used to purchase hand soap for use
in the park's restrooms.
3346.5 Bleach: Proposed $500. These funds will be used to purchase bleach for use in the
park's restrooms.
3346.5 Doggy Bags: Proposed $9,491. These funds will be used to purchase doggie bags for
use in park's common areas.
3351 Turf and Irrigation Supplies: Proposed $7,169. These funds will be used to maintain and
upgrade Bayfront and Museum Parks' turf and irrigation system.
BPMT-UTILITIES
3338 Miami -Dade County Water and Sewer: Proposed $650,000. These funds will be used for
all water and sewage services supplied by Miami -Dade County Water & Sewer Department.
3339 FP&L Utilities: Proposed $196,500. These funds will be used to purchase electrical
services from FP&L and include an increase to cover projected rate changes.
BPMT-OTHER BUSINESS EXPENSES
33340 Other Business Expenses: Proposed $73,000. These funds will be used for ordinary
and necessary costs of operating the business that does not fall under standard expenses.
BPMT- Return Fund to the City of Miami: $500,000.
BAYFRONT PARK
MIAMI
BAYFRONT PARK MANAGEMENT TRUST
CAPITAL IMPROVEMENT BUDGET
FISCAL YEAR 2025/2026
Bayfront Park Management Trust
Capital Improvements Funds Report
Fiscal Year 2025/2026
Total Capital Improvements Funds: $21,691,000
1. Bayfront Park Projects
Description Amount Notes
Landscaping $150,000
General Improvements at Bayfront Park $1,500,000 Lighting, Monuments, Promenade
Office Building Improvements $9,500,000
Dock Repairs $3,200,000
Promenade $3,000,000
Total — Bayfront Park $17,350,000
2. Maurice Ferre Park Projects
Description Amount
Play Area Fencing $275,000
New Playground/Gym equipment $800,000
Lighting $750,000
Landscape Design $300,000
Seawall Repair $800,000
Power/Water Treatment Dockage $1,000,000
Storage Facility Maintenance $416,000
Total — Maurice Ferri Park $4,341,000
Total Capital Improvements Funds Allocated: $21,691,000