HomeMy WebLinkAboutMemo - DDA14
011M IAM I DDA
DOWNTOWN DEVELOPMENT AUTHORITY
Memorandum
To: Theonorable M or an em rs of the City Commission
From: Alyce Robertson, Executive Director
Date: July 28, 2015
Subject: Miami DDA
Appropriations Resolution for FY 2015-2016
Re: For September 10, 2015 City Commission Meeting
Recommendation
It is respectfully requested that the City Commission adopt the attached Appropriations Resolution
for the Miami Downtown Development Authority for the Fiscal Year beginning October 1, 2015 and
ending September 30, 2016.
Background
Chapter 14 of the City of Miami Code authorizes the City Commission to levy an additional ad
valorem tax on all real and personal property within the Downtown Development District for the
purpose of financing the operations of the Miami Downtown Development Authority ("DDA").
The DDA budget for the FY 2014-2015 was based on ad valorem revenues of $ 6,417,242. The
proposed DDA budget for FY 2015-2016 is based on estimated ad valorem revenues of $7,187,129.
This represents an increase in ad valorem revenues of $769,887.
Attached for City Commission approval is an Appropriations Resolution for the Miami Downtown
Development Authority for the Fiscal Year beginning October 1, 2015 and ending September 30,
2016.
Attachments
A: Proposed Resolution Re: the Adoption of DDA Appropriations for FY 15-16. (Millage)
B: DDA Board Resolution No. 14/2015 in support of proposed budget for FY 15-16
cc: Victoria Mendez, City Attorney (via email)
Joseph A. Ruiz, Assistant City Attorney, City of Miami (via email)
Julia D. Hernandez, City of Miami - Agenda Coordinator (via email)
Todd Hannon, City Clerk — (via email)
Miami Downtown Development Authority Tel: 305.579.6675
200 S. Biscayne Boulevard, Suite 2929 Fax: 305.371.2423
Wachovia Financial Center Web: www.miamidda.com
Miami, Florida 33131