HomeMy WebLinkAboutMemo - DDAMemorandum
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DOWNTOWN DEVELOPMENT AUTHORITY
To: 6The.onorable ay a d 1t9ersof the City Commission
CFrom: . Rob rtson
e Director
Date: June 1,6, 2015
Re: Items for Jany 23, 2015 City Commission Meeting
Recommendation
It is respectfully requested that the City Commission approve the attached Resolution establishing
the FY 2015-2016 millage rate for the Downtown Development Authority ("DDA") of the City of
Miami, Florida.
IBac!Wouaud
In 1980, the State of Florida Legislature enacted House Bill 4-D entitled "Truth in Millage" (TRIM
BILL), which has been incorporated into the Florida Statutes tinder Section 200, The TRIM BILL
also stipulates that the proposed millage rate be submitted to the Property Appraiser and. Tax
Collector, and included in the City's tax notices mailed to property owners.
The City Commission is authorized tinder Chapter 14 of the City of Miami Code to levy an
additional ad valorem tax on all real and personal property in the Downtown Development District,
not to exceed 0.475 mil Is, for the purpose of financing the operations of the DDA.
The proposed millage rate for the DDA for the fiscal year beginning October 1, 2015 and ending
September 30, 2016 is 0.475 mills, which is % less/more than the roll back rate of %.
The Miami City Commission must also establish the dates and times of the first and second public
hearings in connection with the DDA FY 2015.2016 proposed millage rate and budget._ As in past
years, the DDA's public hearings should be scheduled for the same date as the City's.
Attachments
cc: Victoria Mendez, City Attorney (via email)
Julia D. Hernandez -- Agenda Coordinator
Todd Hannon — City Clerk
Miami Downtown Development Authority Tei: 305.579.6675
200 S. Biscayne Boulevard, Suite 2929 Fax: 305.371.2423
Wachovia Financial Center Web: www.miamidda.com
Miami, Florida 33131