The URL can be used to link to this page

Home My WebLink AboutBack-Up DocumentsOMNI Board of Commissioners Meeting July 27, 2017 OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY INTER -OFFICE MEMORANDUM To: Board Chair Ken Russell Date: July 21, 2017 File: 2688 and Members of the CRA Board Subject. Approving the Omni CRA's General Operating Budget & Tax Increment Fund Budget for Fiscal Year'17-18 From: Jason Walker Enclosures: 2688 Exhibit A Executive Director BACKGROUND: It is recommended that the Board of Commissioners of the Omni Redevelopment District Community Redevelopment Agency ("CRA") approve and adopt the attached resolution, with attachment(s), adopting the Omni CRA's General Operating Budget and Tax Increment Fund Budget, for the fiscal year commencing October 1, 2017, and ending September 30, 2018, and further directing the Executive Director to transmit a copy of each budget to the City of Miami and Miami Dade County. JUSTIFICATION: The Interlocal Agreement requires the OMNI CRA to annually prepare a proposed budget and transmit same to City of Miami and Miami Dade County This Resolution fulfills this requirements. City of Miami City Hail +, 3500 Pan American Drive -�, - Legislation Miami, FL 33133 k 'RSA ttg< <ixi K fifi www.miamigov.com OMNI CRA Resolution CRA -R-17-0043 File Number: 2688 Final Action Date: 7/27/2017 A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY ("CRA"), WITH ATTACHMENT(S), APPROVING AND ADOPTING THE CRA'S PROPOSED GENERAL OPERATING BUDGET AND TAX INCREMENT FUND BUDGET FOR THE FISCAL YEAR COMMENCING OCTOBER 1, 2017 AND ENDING SEPTEMBER 30, 2018; DIRECTING THE EXECUTIVE DIRECTOR TO TRANSMIT A COPY OF EACH BUDGET TO THE CITY OF MIAMI AND MIAMI- DADE COUNTY. WHEREAS, the Omni Redevelopment District 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 Fiscal Year 2017-2018 redevelopment activities, the Board of Commissioners must approve the CRA's proposed General Operating Budget and Tax Increment Fund Budget for the Fiscal Year commencing October 1, 2017 and ending September 30, 2018; and WHEREAS, pursuant to an Interlocal Agreement, as amended, 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 OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY 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 herein as if fully set forth in this Section. Section 2. The attached CRA General Operating Budget and Tax Increment Fund Budget for the Fiscal Year commencing October 1, 2017 and ending September 30, 2018 are approved and adopted. Section 3. The Executive Director is directed to transmit a copy of each budget to the City of Miami and Miami -Dade County. Section 4, This Resolution shall become effective immediately upon its adoption. APPROVED AS TO FORM AND CORRECTNESS: Barnaby L. Min, Deputy City Attorney 7/21/2017 City of Miami Page 1 of 1 File ID: 2688 (Revision:) Printed On: 8/11/2097 FY 2018 PROPOSED BUDGET 7/21!2017 2018 TIF Revenue 2018 TIF Rev for Affordable Housing % 2018 Budget for Affordable Housing 2018 TIF Revenue 2018 Administrative Expenditures %Administrative Exp / 2018 TIF Revenue 2018 Budget Reserve Total 2018 Budget %2018 Budget Reserve / Total 2018 Budget $18,325,301 $1,832,51(1 rrprer ro xA9, s • omasfirmrrr and ard� 10% $18,325,101 $1,141,592 61A $2,180,943 $53,387,872 4% IFY2018 FY 2017 BUDGET OMNI TAX INCREMENT FUND BUDGET PROPOSED AMENDED VARIANCE BUDGET BUDGET REVENUES CITY OF MIAMI - TAX INCREMENT $11,065,494. $10,574,483 $491,011 MIAMI DADE COUNTY - TAX INCREMENT (ORtGINAL BOUNDARIES) $6,749,405 $6,453,941 $295,464 CITY OF MIAMI - TAX INCREMENT (2009 ADDITION EXPANDED BOUNDARIES) $316,648 $240,252 $76,596 MtAMI DADE COUNTY -TAX INCREMENT (2009 ADDITION EXPANDED BOUNDARIES) $193,354 $146,633 $46,721 Total TIF Revenues $18,725,101 ESTIMATE LOAN PROCEEDS (with Bank United) $25,000,000 $0 $25,000,000 TRANSFER FROM MIDTOWN CRA (Administration) $46,632 $46,632 $0 RENT INCOME - MEC $100,000 $100,000 $0 OTHER INCOME - MEC (REIMBURSEMENT FOR 2017 PROPERTY TAXES) $178,177 $178,177 $p RENT INCOME - 1401 LLC $101,481 $101,481 $0 LAND $0 $0 $0 ESTIMATE CHILDREN TRUST CONTRIBUTION $733,004 $713,820 $19,184 2017 UNADIUSTED FUND BALANCE $8,903,477 $7,779,059 $1,124,418 TOTAL REVENUE $53,397,8721 $26,334,478 $27,053,334 REDEVELOPMENT EXPENDITURES ACCOUNTING AND AUDIT $15,000 $15,000 $0 PROFESSIONAL SERVICES - OTHER $132,300 $354,700 $377,600 OTHER CONTRACTUAL SERVICES $371,177 $671,657 -$300,480 1 NTERFUND TRANSFER (Debt Service) $6,699,867 $4,249,500 $2,450,367 1 NTERFUND TRANSFER (Grant) $1,564,307 $1,455,033 $109,274 PURCHASE OF REAL ESTATE $7,379,363 $2,000,000 $5,379,363 OTHER CURRENT CHARGE $6,413,765 $6,095,358 $318,427 OTHER GRANTS AND AMS $25,896,1131 $7,232,765 $18,663,348 ADMINISTRATIVE EXPENDITURES REGULAR SALARIES $535,231 $532,060 $3,7.71 FICATAXES $40,945 $40,703 $242 LIFE AND HEALTH INSURANCE $48,000 $48,000 $0 RET IREMENTCONTRIBUTION $23,950 $20,600 $3,350 FMNGE BENEFITS $19,500 $24,150 -$4,650 OTHER CONTRACTUAL SERVICE $20,000 $2U,000 $0 TRAVEL AND PER DIEM $30,000 $30,000 $0 COMMUNICATIONS $0 $0 $0 UTILITY SERVICE $20,300 $20,300 $0 INSURANCE $104,166 $104,166 $0 OTHER CURRENT CHARGE $193,400 $214,272 -$20,872 SUPPLIES $5,000 $5,000 $0 OPERATINGSUPPL€ES $5,000 55,000 $0 SUBSCRIPTION MEMBERSHIP $171000 $17,000 $0 MACHINERY AND EQUtPMENT $24,000 $24,000 $0 ADVERTISING $30,000 $30,000 $0 RENTAL AND LEASES $3,600 $3,600 $0 POSTAGE $2,000 $2,000 $0 REPAIR/MAINTENANCE - OUTSIDE $2,000 $2,000 $0 INTERFUND TRANSFER $17,500 $17,500 $0 T1tsf Ad.W.Wt 1w Exp -d[-. $1,141,592 RESERVE FOR MIDTOWN ADM EXPENDITURES $45,632 $46,632 $D RESERVE FOR SECURITY DEPOSIT -MEC $125,000 $125,000 $O RESERVE FOR SECURITY DEPOSIT - 1401 GROUP LLC $40,000 $40,000 $0 RESERVE FOR CAPITAL EXPENDITURES $603,616 $377,135 $226,48.1 RESERVE FOR PAYMENT OF PROPERTY TAXES - MEC $178,177 $178,177 $0 BUDGET RESERVE 52,180,943 $2,333,170 -5152,227 TgTAL FUND BALANCE $53,387,$72 $26,334,478 $27,053,394 2018 TIF Revenue 2018 TIF Rev for Affordable Housing % 2018 Budget for Affordable Housing 2018 TIF Revenue 2018 Administrative Expenditures %Administrative Exp / 2018 TIF Revenue 2018 Budget Reserve Total 2018 Budget %2018 Budget Reserve / Total 2018 Budget $18,325,301 $1,832,51(1 rrprer ro xA9, s • omasfirmrrr and ard� 10% $18,325,101 $1,141,592 61A $2,180,943 $53,387,872 4% Description Category Approval Date Peso t Amount Amount Remilning Budgeted Emended Balance Accounting and Audit $35,000 1 External Auditing Services to the Administration 7/29/2015 1fr9038 515,000 $o $15,000 $6 OMNI CPA- Sanson, Kline, 5312,286 $37,714. $0 50 $70,000 lacomino, Tandoc & Ga mars, $0 $60,000 SD $0 $65,000 LLP $C $20,000 $0' `Professional Services - Other $15,971 $0 $0 2 Lobbyists Administration City of Miami $35,000 54 $35,000 $150,000 $0 Procurement $58,906 $0 $D - $744763$3q,.7]* Code 3 Ava€fable for Other Professional Administration NR $118,150 $0 $118,150 Services 4 Financia€ Support Consultant Administration 12/14/2016 16-0064 $42,850 $29,700 $14,350 5 2018 Omni Redevelopment Plan Redevelopment NR $350,000 $6 $350,000 & PON Planning 6 Branding, Website, PR Administration NR $70,000 $0 $70,060 7 Quickbuild-Protected Bike Lanes Redevelopment NR $64,000 $0 $60;000 Planning 8 Traffic Study/Design-N Miami Redevelopment NR $65,OW $6 $65,000 Ave & 14th Street Planning 9 Historic Designations Redevelopment NR $20,000 $4 $20,000 Planning other Contractual Services 10 Horsepower Street tsght Quality of Life NR 525,000 $9,029 515,971 Maintenance Quality of Life NR 11 Available for Landscaping Service $25,000 $3,700 $21,300 12 Urban Temporary Park � Administration NR $125,000 $G $125,CC0 Maintenance and Security 13 CRA Consufrants Administration NR 1 $150,000 $0 $150,000 14 Available for Other Contractual Administration NR $58,906 $0 $58,906 Services - Proposed Budget $250,000 - $150,0GO a €located to Other Consultants - interest Revenue CoTieeted on 4119/17 .$41,180.52, Interest Revenue 5/18/17•$13,414,37 - Subtotnf - $L159,5006 $41429E $1,119477 Total Budget Amount (Pro€esslunal Services -legal, Accounting and Audit, Professional Services - Other and Other Contractual NR - No CRA Resolution $1,D89,327 R . CRA Resolution Passed $29,150 $1,118,477 51,118 477 $15,DOC $732,300 $371,177 Fundin Source Carryover Fund Salience FY 2018 TIF Revenue MM Loan Proceeds $15,000 $0 $0 $35,000 $0 $0 $118,150 So $O $14,150 $6 $o 5312,286 $37,714. $0 50 $70,000 $0 $0 $60,000 SD $0 $65,000 $0 $C $20,000 $0' $15,971 $0 $0 $21,300 So $0 $0 $125,{}64 $0 $150,000 $0 $o $58,906 $0 $D - $744763$3q,.7]* 4 P7 7ffi $3 $0 51,118 477 $15,DOC $732,300 $371,177 j Description Category Approval Date' Reis iR Amount Amount Remaining j j $0 $4,249,500 $0 Budgeted Upended Balance lint erfunCTransfer DebtSeMce 50 $6,413,785 $0 1 2018 Transfer Out to the City of Debt Service Dec -07 2007 Glo6f $4,249,500 $0 54,249,500 Miami for the payment of the $241,213 $0 Agreement $90,490 $D $0. $D Port of Miami Tunnel Series $o $0 $733,904 $0 $364,890 S14,346,656 $7,347,776 2012 $364,890 $14 656 $45,776 2 Loan with Banktlnited - Debi Service Debt Service $2,450,361 $0 $2,450,367 Estimated principal amount $25M Other Current Charges and Obli ations 3 Estimated 2007 Global infrastructure Dec -07 2007 Global 56,413,785 so $6,413,785 Agreement Payment - 1 Agreement Performing Art Center Purchase of Real Estate 4 Second Payment - 1367 Bank Infrastructure duk17 17.0020 $2,879,363 $0 $2,879,363 Building 5 Purchase of real estate Infrastructure dun -17 17.0035 $4,500,000 SO $4,500;000 property located at 1990 N Miami Ave InterfunciTransfer (Grant) 6 2015.20€6 Policing Services- Quality of Life 10/12/2015rAgreement $710,000 $468,787 $241,213 City of Miami 7 2017 Grant to the City of Miami quality of Life 12(14(201fi $50€3,OGO $409,910 $90,090 Police Department for the Expanded Police Program 8 2018 Grant to the City of Miami Quality of Life $500,000 $0 $500,000 Police Department for the Expanded Police Program 9 2018 ChildrenTnrst Quality of Life Dec -07 $733,004 5o $733,004 Contribution StabtoMi $22436,019 $VII,697 $22,057,323 Total Budget Amount Ilnterfund Transfer (Debt $ervicej, Debt Service, Purchase of Land and fnterfund Transfer (Grant) NR- No CRA Resolution $7,87!063 R - CRA Resolution Passed $14,177,959 $22,057,323 unding Source Carryover fund Balance FY 2018 TIF Revenue ST5MLoan Proceeds $0 $4,249,500 $0 SO $2,450,367 $fl 50 $6,413,785 $0 $33,581 50 $2,845,776 Sfl' $tl 54,500,000 $241,213 $0 5o $90,490 $D $0. $D $500,000 $o $0 $733,904 $0 $364,890 S14,346,656 $7,347,776 $364,890 $14 656 $45,776 522- $6,699,867 $6,413,785 $7,379,363 $1,564,307 F,a,ilna Son Description Category Approval Date Resoa Amount Amount Remmaiirl Carryover FT 2418 $25MLnan Budgeted F>pertded Balance Fund Balance TIF Proceeds itevenue Othe•Grants and Alds 1 Grant to the Perez Art Art and Culture 7/29/2016 16-0039 $1,000,060 $850,000 $150,040 $150,000 $0' $6 Museum of Miami Dade County for various community benefits to the redevelopment area. 2 1401 Rest LLC- Lessor's )oh Creation 6/13/2013 13-0036 $60,060 $0 $66,000 $60,D00 SO $0 Contribution to leasehold improvements -Grease Trap and Hood System 3 Grant to Chapman House Infrastructure 12/14/2016 16.0058 $60,000 S60,000 $0 $0 $6 $0 for Facade Improvement Program 4 Guitars Over Guns Art and Culture NR $185,000 $0 $185,000 $185,000 $6 So 5 Matching funds obligation infrastructure 3/28/2013 13-0017 $150,000 $26,214 $123,786 $123,786 $0 $0 under the Ffarids Inidan Navigation District Grant for Phase 2 -Miami Woman's Club 8aywalk Project - CIP Project 6 Dorsey Library- Project infrastructure UP $850,000 50 $850,000 5850,000 $0 $0 Cost -CIP Project - Funds Approved derived from sale of land - Project 14th St DEV CLC - 51,259,649 - CRA R- 15- 0021 2017 Available for Affordable Housing (10% of 2017 TIF Revenues) 7 Available TIF funds for Affordable 9/1312016 16.0040 $1,041,531 50 $1,041,531 51,041,531 $0 $0 Affordable Housing Projects Housing - Original Amount $1,741,536.90 8 Grant toRebuildirg Affordable 12/14/2016 16-0061 $70D,000 $69.642 $610,35a 5616,358 $£7 $0 Together Miami•Dade Inc. Housing to provide partial funding for a home improvement facade and quality life program. 2018 Available for Affordable Housing (10% of 2018 TIF Revenues) 9 Available TIF funds For Affordable 2018 Budget 16-0040 $1,632,510 $0 $1,832,510 SD $1,832,516 6 Affordable Housing Projects Housing 10 Grant toLegido Affordable 12/14/2016 16-0062 $905,000 $351,471. $553,529 $553,529 $0 $0 Management Services, Inc Housing to provide Funding for "Business Rehabilitation Grant Programs" i 11 Grant to Camillus House, Quality ofUfe 12/14/2015 16.0059 $175,000 $175,096 50 So $0 $0 Inc. for the "Miami Shelter pro ram" 12 2617 Miarnl Downtown Quality of Life 12/14/2016 16.0057 $50,000 $4,753 $45,241 $45,247 $o $0 Development Authority to expand the Downtown Enhancement Team (Purpfe Shirts) 13 2018 Miami Downtown Quality of Life NR $100,000 $0 Sim,= $0 $100,006 50 Development Authority to expand the Downtown Enhancement Team (Purple Shirts) 14 Museum Park Romediation infrastructure CIP $175,000 $150,343 $24,651 $24,657 $fl $0 Project 0-30538. CIP Project Approved Funded with OMNI TIF Project funds. 15 Execute Lease Agreement Job creation 1 6/21/2077 17-0833 $150,000 $5,700 5144,300 $144,300 $0 $0 with a Five (5) year initial quality of Life term with two (2) one (1) year options to renew between the CRA and Revran 5 Uincaln at 175 NW 14th St. Base amount $2,650 per month with a three (3 %1 percent annual 16 Contribution to the City of In€rastructure 6125/2015 15.0022 $3,750,000 $2,488,662 $1,261,338 $1,261,338 $0 $0 Miami -TRI Rail Project 5/26/2016 17 50 NW 14th Parking Lot Quality of fife NR $300,000 $0 $300,000 $0 $30O,Ooo $0 Lining 18 School Board Parking Lot Quality of Life NR $10,000 $0 $10,000 $o $10,000 $0 Enhancements NR 19 Urban Gardens Quality of Life $400,000 $0 $400,000 $0 $400,000 so 20 Business improvement Quality of We NR $49,633 $0 $49,633 $u $49,633 $o Grants 21 130 NW 14th Street Rehab Quality of Life NR $400,000 $0 $400,000 $0 $40O,i700 $0 & Activation 22 Community initiatives Quality of Life NR $100,000 $0 $100,000 $0 $100,000 $0 23 Affordable Housing, Real Afforda bin NR $17,654,224 $0 $17,554,224 $0 $0 $17,654,224 Estate Acquisition, Other Housing Capital improvement Projects Subtotal $34097838 $4,201,785 $?5:896;113 $1969,746. $3192.143 $17,654,126 $5,049.746 1 S3,192,1431 $17,634,224 Total Budget Amount Other Grants and Aids NR - No CAA Resolution $19,198,857 R - CRA Resolution Passed $6,697,256 525,896,113 $25,89&.133 OMNI (Position ( $3,900 Executive Dsrector - OMNI $120,000 Executive Director - Midtown (Reimbursed by Midtown CRA) $2,740 Assistant Executive Director $75,000 Chief legal Officer $70,000 Director of Polity and Planning $57,000 Assistant to the Executive Director $43,000 Community Liaison S42,000 intern ($10/Hour) $20,800 intern ($20/30 hours) $31,200 Compensated Absences $73,491 Regular Salaries $335,131 Pica taxes $40,945 $40,945 HealthloentatIVisfon insurance OMNI CRA Staff $48,000 Contingency $5,000 Life and Health Insurance $48,000 Retirement Contribution (401K) Executive Director $9,600 Assistant Executive Director $3,750 Assistant to the Executive Director $2,150 Community Liaison $2,100 Chief Legal Officer $3,500 Director of Policy and Planning $2,850 Retirement Contribution F $237950 Car Alfowance $3,900 Executive Director - OMN 1 $3,500 Executive Director - Midtown (Reimbursed by Midtown CRA) $6,000 Chief Legal Officer $2,400 Cell Phone Allowance $2,000 Executive Director - OMNI $1,200 Executive Director - Midtown (Reimbursed by Midtown CRR) $2,400 Assistant Executive Director $11500 Chief Legal Officer $1,200 Director of Policy and Planning $1,200 Fringe Benefits 1 $19,300 ADP -Payroll Processing Fee (26 payroll periods k $150) $3,900 Janitorial Service/ Supplies $9,000 Circle Security Solutions §2,700 Comcast $2,400 OTIS Elevator Maintenance Service $2,000 Other Contractual Services 1 $20,000 To include cost for travel out of the city for conferences and travel allowances. $30,000 Travel and Per Diem 1 $30,000 FPL- Fire House $10,800 Miami Water and Sewer $3,500 Contingency 61000 Utility Service 1 $20,300 Property Insurance/General/Liability insurance (MEC) $71,1116 Property Insurance/General/Liability insurance (Fire Station No 2) $28,000 Workers Compensation (CRA Staff) $5,000 Insurance 104,16& To include the cost of food associated to CRA Meetings/Rlhbon Cutting $5,000 To include the cost of miscellaneous supplies. $2,009 Sale Tax - 1401 Rest LLC $8,223 Sale Tax - €LIE / Screen Gems LTO, Inc MEC $0 2017 MEC Property Taxes $178177 Other Current Charges 793,40A To Include supplies necessary for use in the operation of an office, such as copy5,000 Supplies $S 000 To include other supplies not office related. Ex. Misc, Project Construction and $51€300 Operating Supplies 1 $s,aoo To include the cost of memberships to organization, Microsoft license, and $17,000 Subscription Membership I $1;F,000 Purchase of Vehicle $18,000 To include the cost of new computers $6,000 Machinery and Equipment $24,040 To include the expenses of placing advertisements in the newspapers or other $30003 Advertis€ng 1 $30 000 Konica Minolta Copier $3 6043 Rental and Leases $3,600 To include the cost of stamps or other related item. Distribution of newsletter $2,000 Postage L..__12,000 To include the cost associated to any office/truck repair. $2,000 Repair / Maintenance - Outside $02,000 To Include tfansfer of funds to the City of Miami Office of the City Clerk for $17,500 lnterfund Transfer 1 $17,500 Total FY 2018 Proposed Budget • Recurrent Expenditures $1,141,592