HomeMy WebLinkAboutMemo - DDA FR9,11 M I AMI D DA
DOWNTOWN DEVELOPMENT AUTHORITY
To: The onorable Mayor pd etn'bers ofthe City Commission
CA -
From:
-From: lyce M. obert on, + xecutive Director
Date: July 28th, 2015
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Subject: Miami DDA FY 2015-2016
Establishing Territorial Limits and Setting Millage for FY 2015-2016
Re: For September 10, 2015 City Commission Meeting —1St Budget Hearing
Recommendation
It is respectfully requested that the City Commission adopt the attached Ordinance establishing the
territorial limits of the Downtown Development Authority independent taxing district and setting the
millage thereof.
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, not to
exceed 0.475 mills on the dollar valuation of such property for financing the operations of the Miami
Downtown Development Authority ("DDA").
Attached is an Ordinance for City Commission approval, which establishes the Downtown
Development District boundaries, fixes the millage at 0.475 mills and levies taxes for the Fiscal Year
beginning October 1, 2015 and ending September 30, 2016.
The proposed millage rate is lower than the previous year's rate of 0.478.
Budget Highlights
The proposed FYI 5-16 budget of $8,996,159 represents a 3.9% increase over the previous year, and
includes funding for additional projects and enhanced services, including:
• DDA contribution towards the Tri -Rail Downtown Miami Link (representing a greater share
of our overall budget (7.2% o) than any other contributing agency)
• Baywalk expansion and enhancements
• Staffing and Outreach for "Pit Stop" portable toilet program
• Event Traffic Management
• Tech initiatives
• Enhanced research products
Attachments
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