HomeMy WebLinkAboutMCRA 2026-09-10 Agenda PacketCity of Miami
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
Meeting Agenda
Thursday, September 10, 2026
10:05 AM
(OR THEREAFTER)
City Hall
3500 Pan American Drive
Miami, FL 33133
Midtown Community Redevelopment Agency
Christine King, Chair, District Five
Rolando Escalona, Vice Chair, District Three
Miguel Angel Gabela, Board Member, District One
Damian Pardo, Board Member, District Two
Ralph "Rafael" Rosado, Board Member, District Four
MIDTOWN CRA OFFICE ADDRESS:
1401 N. Miami Avenue, 2nd Floor
Miami, FL 33136
Phone: (305) 679-6868
www.miamicra.com
Midtown Community Redevelopment Agency
Meeting Agenda September 10, 2026
CALL TO ORDER
APPROVING THE MINUTES OF THE FOLLOWING MEETING(S)
1. MIDTOWN COMMUNITY REDEVELOPMENT AGENCY - EMERGENCY
MEETING - NOV 20, 2025 10:15 AM
MCRA RESOLUTION
1. MCRA RESOLUTION
19791 A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE MIDTOWN
COMMUNITY REDEVELOPMENT AGENCY ("CRA"), WITH
ATTACHMENT(S), ACCEPTING AND APPROVING 2026 PROPOSED
BUDGET OF THE MIDTOWN COMMUNITY REDEVELOPMENT AGENCY,
ATTACHED AND INCORPORATED AS EXHIBIT "A", IN THE AMOUNT OF
SIXTEEN MILLION, EIGHT HUNDRED SEVENTY-EIGHT THOUSAND, NINE
HUNDRED SIXTY-EIGHT DOLLARS AND ZERO CENTS ($16,878,968.00)
FOR THE FISCAL YEAR COMMENCING OCTOBER 1, 2026 AND ENDING
SEPTEMBER 30, 2027 RESPECTIVELY; DIRECTING THE EXECUTIVE
DIRECTOR, OR HIS DESIGNEE TO TRANSMIT A COPY OF THE BUDGET
TO THE CITY OF MIAMI AND MIAMI-DADE COUNTY.
ADJOURNMENT
Midtown Community Redevelopment Agency Page 2 Printed on 9/1/2026
Midtown Board of Commissioners Meeting
September 10, 2026
1.1
MIDTOWN COMMUNITY REDEVELOPMENT DISTRICT
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
Board Chair Christine King
and Members of the CRA Board
From: Erica T. Paschal Darling
Assistant City Manager/CFO
Date: August 28, 2026 File: 19791
Subject: Midtown CRA's Proposed Budget for
FY '26-'27
Enclosures: 19791 Exhibit A
BACKGROUND:
It is recommended that the Board of Commissioners of the Midtown Community Redevelopment
Agency (CRA) approve the attached resolution adopting the proposed Midtown CRA Tax
Increment Fund Budget for the fiscal year beginning October 1, 2026, and ending September
30, 2027. Additionally, directing the Executive Director to send copies of the budget to the City
of Miami and Miami -Dade County.
JUSTIFICATION:
The Midtown CRA must annually develop a proposed budget and submit it to the City of Miami
and Miami -Dade County. This resolution meets that requirement.
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1.1
City of Miami
Legislation
Midtown CRA Resolution
Midtown CRA
1401 N. Miami Avenue
Miami, FL 33136
www.miamicra.com
File Number: 19791 Final Action Date:
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE MIDTOWN
COMMUNITY REDEVELOPMENT AGENCY ("CRA"), WITH ATTACHMENT(S),
ACCEPTING AND APPROVING 2026 PROPOSED BUDGET OF THE MIDTOWN
COMMUNITY REDEVELOPMENT AGENCY, ATTACHED AND INCORPORATED AS
EXHIBIT "A", IN THE AMOUNT OF SIXTEEN MILLION, EIGHT HUNDRED SEVENTY-
EIGHT THOUSAND, NINE HUNDRED SIXTY-EIGHT DOLLARS AND ZERO CENTS
($16,878,968.00) FOR THE FISCAL YEAR COMMENCING OCTOBER 1, 2026 AND
ENDING SEPTEMBER 30, 2027 RESPECTIVELY; DIRECTING THE EXECUTIVE
DIRECTOR, OR HIS DESIGNEE TO TRANSMIT A COPY OF THE BUDGET TO THE
CITY OF MIAMI AND MIAMI-DADE COUNTY.
WHEREAS, the Midtown 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 the redevelopment activities for Fiscal Year
2026-2027, the Board of Commissioners of the CRA must approve the proposed Tax Increment
budget ("Budget") for the fiscal year commencing October 1, 2026 ending September 30, 2027
("Fiscal Year"); and
WHEREAS, the Budget is in the total amount of Sixteen Million, Eight Hundred Seventy -
Eight Thousand, Nine Hundred Sixty -Eight Dollars and Zero Cents ($16,878,968.00) for the
Fiscal Year; and
WHEREAS, pursuant to an Interlocal Agreement, as amended, which the CRA is a party
to, a copy of each budget is to be transmitted to the City of Miami and Miami -Dade County;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF
THE MIDTOWN COMMUNITY REDEVELOPMENT AGENCY:
Section 1. The recitals and findings contained in the Preamble to this Resolution are
approved by reference and incorporated as if fully set forth in this Section.
Section 2. The Budget for the Fiscal Year commencing October 1, 2026, and ending
September 30, 2027, attached and incorporated herein as Exhibit "A", is hereby approved and
adopted.
Section 3. The Executive Director, or his designee is directed to transmit a copy of the
Budget to the City of Miami and Miami -Dade County.
Section 4. This Resolution shall become effective immediately upon its adoption.
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1.1
APPROVED AS TO FORM AND CORRECTNESS:
GEORGE K. WYSONG I , GENERAL COUNSEL
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EXHIBIT "A"
1.1.a
MIDTOWN CRA SPECIAL REVENUE FUND BUDGET
FY 2027
Proposed Budget
FY 2026
Adopted
Budget
Budget
Variance
Revenues
ADVALOREM TAXES - CITY OF MIAMI
$9,123,598
$8,737,880
$385,718
ADVALOREM TAXES - MIAMI DADE COUNTY
$5,871,270
$5,600,452
$270,818
2025's CARRYOVER FUND BALANCE
$1,884,100
$1,437,957
$446,143
TOTAL REVENUES
$16,878,968
$15,776,289
$1,102,679
Expenditures
INTERFUND TRANSFER (Administration - 1% From TIF
149,949
$143,383
$6,565
OTHER CURRENT CHARGES AND OBLIG (Note 1)
$15,702,206
$14,606,093
$1,096,113
2026's BUDGET RESERVE
$1,026,813
$1,026,813
$0
TOTAL EXPENDITURES
16,878,968
$15,776,289
$1,102,678
REVENUE LESS EXPENDITURES
$0
$0
$0
Note 1
1) Contribution towards Midtown CDD's Debt Service
2) FY 2026's estimated transfer to the City Of Miami
3) FY 2026's estimated transfer to the County
Note 2
$4,765,813
$6,561,836
$4,374,557
$15,702,206
1) Funds to be used towards the payment of debt service due on 11/1/2026. $1,026,813
Attachment: 19791 Exhibit A (19791 : Midtown CRA's Proposed Budget for FY'26- 27)
1
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