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Home My WebLink AboutExhibitrY 2018 PROPOSED BUDGET 712V2017 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 Zola Budget % 2018 Budget Reserve /Total 2018 Budget $18,325,101 #1,832,510 i�afar ro trm s -Ofnu orant and Araa 10'% $18,325,101 $1,141,592 6% $2,180,943 $53,387,872 4% FY 2018 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 (ORIGINAL BOUNDARIES) $6,749,405 $6,453,941 $295,464 CITYOF MIAMI - TAX INCREMENT (2009 ADDITION EXPANDED BOUNDARIES) $316,846 $240,252 $76,596 MIAMI DADE COUNTY - TAX INCREMENT (2009 ADDITION EXPANDED BOUNDARIES) $193,354 $146,633 $46,721 Tool TIF Revenues $18,326,101 ESTIMATE LOAN PROCEEDS ("Ath 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) $176,177 $178,177 $0 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 REVF tUE $53,397.9721 $26,334,478 $27,053,394 REDEVELOPMENT EXPENDITURES ACCOUNTING AND AUDIT $15,000 $15,000 $0 PROFESSIONAL SERVICES - OTHER $732,300 $354,700 $377,600 OTHER CONTRACTUAL SERVICES $371,177 $671,657 -$300,480 INTERFUNDTRANSFER (Debt Service) $6,699,867 $4,749,500 $2,450,367 INTERFUNDTRANSFER (Grant) $1,564,307 $1,455,033 $109,274 PURCHASE OF REAL ESTATE $7,379,363 $2,000,000 $5,379,363 OTH ER CU BRENT CHARGE $6,413,785 $6,095,358 $318,427 OTHER GRANTS AND AIDS $25,896,113 $7,232,765 $18,663,348 ADMINISTRATIVE EXPENDITURES REGULAR SALARIES $535,231 $532,060 $3,171 FICA TAXES $40,945 $40,7()3 $242 LIFE AND HEALTH INSURANCE $48,000 $48,000 $0 HETIREMENTCONTRIBUTION $23,950 $20,600 $3,350 FRINGE BENEFITS $19,500 $24,150 -$4,650 OTHER CONTRACTUAL SERVICE Wxo $20,000 $0 TRAVEL AND PER DIEM $30,000 $34,000 $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 OPERATING SUPPLIES $5,000 $5,000 $0 SUBSCRIPTION MEMBERSHIP $17,000 $17,000 $0 MACHINERY AND ECILRPMENT $24,000 $24,000 SO ADVERTISING $30,GD0 $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 T.W Ada W.tl dw Expartddte $1,947,582 RESERVE FOR MIDTOWN ADM EXPENDITURES $46,632 $46,632 $0 RESERVE FOR SECURITY DEPOSIT- MEC $125,000 $125,000 $0 RESERVE FOR SECURITY DEPOSIT -1401 GROUP LLC $40,000 $40,000 $0 RESERVE; FOR CAPITAL EXPENDITURES $603,616 $377,135 $226,481 RESERVE FOR PAYMENT OF PROPERTY TAXES- MEC $178,1771 $178,177 $0 BUDGET RESERVE $2,180,9431 $2,333,170 -$152,227 TOTAL FUND BALANCE 1 $53,397,11721 $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 Zola Budget % 2018 Budget Reserve /Total 2018 Budget $18,325,101 #1,832,510 i�afar ro trm s -Ofnu orant and Araa 10'% $18,325,101 $1,141,592 6% $2,180,943 $53,387,872 4% Description Category Approval Date Res@ 4 Amount Amount Remalning $15,060 $0 IBudgeted Expended Balance Accounting and Audit $35,000 $0 $D $118,150 - 1 External Auditing Services to the Administration 7/29/2016 16-0038 $15,000 So $15,000 $o OMNI CRA - Sanson, Kline, $o 50 $60,000 $0 $0 $65,000 }accmino, Tandoc & Cramarra, $o $20,000 $0 LLP $0 $0 $21,300 $0 $0 Professlanal Service;. Other $125,000 $0 $150,000 $o $fl 2 Lobbyists Admin-stra6on City of Miami $35,000 $0 $35,000 $740,763. Procurement $0 Cotte 3 Available for Other Professional Administration NR $218,15£3 50 $118,150 Services 4 Financial Support consultant Administration 12/14/2016 16-0064 $42,8501 $28,700 $14,150 5 2018 Omni Redevelopment Plan Redevelopment NR $350,000 $0 $350,000 & PON Planning 6 Branding, Website, PR Administration NR $74,000 $D $70,000 7 Quickbuild---Protected Bike Lanes Redevelopment NR $50,000 $0 $60,000 Nanning 8 Traffic Study/Design-N Miami Redevalopment NR $65,0 00 $o $65,000 Ave & 14th Street Planning 9 Historic Designations Redevelopment NR $20,000 So $26,000 Piann ng -,D erContractualSwices 10 Horsepower Street Light 4uality of Life NR $25,000 $9,029 $15,971 Maintenance 11 Available For Landscaping Service Quality of Life NR $25,065 $3,700 $21,300 12 Urban Temporary Park- Administration NR $125,tHI0 $0 $125,00U Maintenance and Security 13 CRA Consultants Administration NR $150,000 Sol $150,000 14 Available for Other Contractual Administration NR $58,906 $0 $S8,906 Services -Proposed Budget $ZS6,660 - $150,600 allocated to Other Consultants - Interest Revenue Collected on 4/19/17 $41,186-52, Interest Revenue 5/18J17•$13,414,87 _ Subtotal; _ S1,159,9% $41,429 $1.118,4271 Total Budget Amount Professional Services - Legal, Accounting and Audit, Professional Services -other and Other Contractual NR - No CRA Resolution $1,089,327 R - CRA Resolution passed 529,250 $1,119,477 Funding Source Carryover Fund Balance FY 2018 TIF Revenue $25M Loan Proceeds $15,060 $0 $0 $35,000 $0 $D $118,150 $o $o $14,150 $o $0 $312,286 $37,714 $0 $o $70,000 $o 50 $60,000 $0 $0 $65,000 S0 $o $20,000 $0 $15,971 $0 $0 $21,300 $0 $0 $0 $125,000 $0 $150,000 $o $fl $58,906. $o $0 $740763 $377,714 0 $740,763. $377,714 $0 $1,119,477 $15,000 $732,300 $371,17'7 Description Category Approval Dake Reso I Amount AmountRemaining E $4,249,500 $D $0 Budgeted. Expended Balance Intertund Transfer Debt Service $0 $6,413,185 $0 1 2018 Transfer Out to the City of Debt Service Dec•07 Z007 Global $4,249,500 $0 54,249,500 Miami for the payment of the $241,213 $o Agreement $90,090 $0 59 $O Part of Miami Tunnel Series $O $0 $733,004 $0 S364,89o. $14,346,656 $7,345,776 2012 $364,890 $14 ,656 $7,345,776 2 .Loan with BankGr ited - Debt Service Debt Service 52,450,367 $0 52,45D,367 Estimated principal amount $25M DthorCurrent Charges and Obll Obligations 3 Estimated 2007 Global Infrastructure Dec -OJ 2007 Global $6,413,785 SO $6,413,785 Agreement Payment - Agreement Performing Art Center Purchase of Real Estate 4 Second Payment • 1367 Bank infrastructure JuI47 17-0020 52,879,363 $0 $2,879,363 Building 5 Purchase of real estate lnfrastructure Jun, 17 17-0035 54,SOO,oDD SO $4,500,000 property located at 1990 N Miami Ave nterfund Transfer (Grant) 6 2015.2016 Policing Services- Quality of Life 10/22/2015 15-0043 $710,000 $468,787 $241,213 City of Miami 7 .2017 Grant to the City of Miami Quality of Life 12114/2016 16-0063 $500,000 5409,910 $90,090 Police Department for the Expanded Police Program 8 2018 Grant to the City of Miami Quality of Life NR $500,000 $0 $50O,00o Police Department for the Expanded Police Program 9 2018 Children Trust Quality of Life Dec -07 €nterfocaf $733,004 $0 $733,004 Contribution Agreement Wbltotal 522,936,019 $878,697 $22.057.323 Total Budget Amount )€nterfund Transfer (Debt Service), Debt Service, Purchase of Land and Interfund Transfer (Grant} NR - No CRA Resolution $7,879,369 R - CRA Resolution Passed $14,177,959 $22,057,323 ridingSource Cutyaver Fund Balance FY 2019 TIF .Revenue $2SM Loan Proceeds 50 $4,249,500 $D $0 $2,450,367 $0 $0 $6,413,185 $0 $33,587 50 $2,845,776 SO $0 54,500,000 $241,213 $o $0 $90,090 $0 59 $O $500,1100 $O $0 $733,004 $0 S364,89o. $14,346,656 $7,345,776 $364,890 $14 ,656 $7,345,776 522,057,323 $6,699,867 $6,413,.785 $7,379,363 $1,564,307 Fundlna Source Descripthm Category pate Re"1 Amount Amount Remaining Carryover FY2018 $25MLoan JApproval Budgeted Expended Balance Fund Balance TIF Proceeds Revenue Other Grants and Aids 1 Grant to the Perez Art Art and Cufture 7/29/2416 16-0039 $1;000,000 $850,000 $150,000 $150,000 $0 $0 Museum of Miami Dade County for various community benefits to the redevelopment area. 2 1401 Rest LLC - Lessor's Job Creation 6/13/2013 13-0036 $60,00o $0 560,000 $60.000 _ $0 $0 Contribution to lei sohotd improvements - Grease Trap and Hood System 3 Grant to Chapman House Infrastructure 12/14/2416 1g-0058 $60,000 $60,000 $0 $0 $0 $q for fsFade Improvement Program 4 Guitars Over owns Art and Culture NR 5185,004 $0 $185,000 $185,000 $0 $q 5 Matching fundsobl#gation infrastructure 3/28/2013 13.0017 $150,000 $26,214 $123,786 5123,785 $0 50 under the Florida Inidan Navigation District Grant for Phase 2 -Miami Woman's Club Baywalk Project - CIP Project 5 Dorsey Library- Project infrastructure CIP $850,000. $0 $850,000 $850,000 Cost - CIP Project - Funds Approved derived from sale of land - project 14th St DFV LLC- . $1,253,649 - CRA R -15- (3021 2017 Ava1ablc for Afforda ble Housing (10% of 2017W Revenues) 7 Available TEF funds for Affordable 5/13/2016 16.OU40 $1,041,531 $0 $1,041,531 S1,041,531 $0 $0 Affordable Housing Projects Housing - Original Amount .51,741,530.90 8 Grant to Rebuilding Affordabie 12/14/2016 16-0061 $700,000 $89,642 $610,358 $616,358 $q $0 Together Miami -Dade Inc. Housing to pmvlde partial funding for a home improvement fa5ade and quality life program. 2018 Available for Affordable Housing (10% of 2018 TIF Revenues) 9 AvailableTJFfunds for Affordable 20158udget 16.0040 $1,832,510 $0 $1,532,510 $0 51,832,510 0 Affordable Housing Projects Housing i 10 Grant toLegido Affordable 12/14/2016 16.0062 S905,e00 $351,471 $553,529 $533,529. $0 $0 Management Services,€nc Housing to provide funding for "Business Rehabilitation Grant Programs" 11 Grant to Camillus House, Quality of Life 12/14/2016 16.0059 $175.000 5175,000 $o Sc $0 $0 Inc. for the "Miami Shelter 11 Pro- ram" 1 12 2017 Miami Downtown Quality of Life 12/14/2016 1&0057 $50,000 $4,753 $45,247. $45,247 Sq $0 Development Authority to expand the Downtown Enhancement Team (Purple Shirts) 13 2018 Miami Downtown Quality of Life NR 5100,(00 $0. $100,000 $o $100,ODO S4 Development Authority to expand the Downtown Enhancement Team (Purple Shirts) 14 Museum Park Remediation infrastructure CIP $175,000 $150,343 524,657 $24,657 $0 $O Project 8.30538- UP Project. Approved funded with OMNI TIF Project Funds. 15 Execute Lease Agreement lob Creation/ 6/21/2017 17-0033 $150,000 $5,700 $144,300 $144,300 $0 $0 with a Five IS) year initial Quality of Life term with two (2j one (1) year options to renew between the LRA and }ievran S Llincoln at 175 NW 14th 5t . Base amount $2,850 per month with a three (3 %) percent annual 16 Contribution to the City of infrastructure 6/26/2tl15 15-0022 $3,750,000 $2,489,662 $1,261,339 $1,261,338 $0 $0 Miami - TRI Rail Project 5/2fij2616 17 50 NW 14th Parking Lot Quality of Life NR $300,000 $0 $300,000 $0 $301),000 $0 Lining 18 School Board Pa rid,,ig Lot Quality of Life NR $10,000 $o $10,000 $D $10,000 $4 Enhancements 19 Urban Gardens QualityofLife NR $400,000 $0 5400,600 $0 $400,000 $0 20 Buslness Improvement Quality of Life NR $49,633 $0 $49,633 sc $49,633 $0 Grants 21 IM NW 34th Street Rehab Quality of life NR $400,000 $0 $400,000 $0 $400,000 $0 & Activation 22 Community ImriaLves Quality Of Life NR $100,000 $0 $1c0,00D $0 5100,000 $o 23 AffordWe Housing, Real Affordable NR $17,654,224 $0 $17,554,224 $0 $0 $17,654,224 Estate AcquisWon, Other Housing Capital Improvement Projects Subtotal $30.047896 ,54;201,785 $15,896,I13 $54119746 $919•1,143 $17654,214 $5,049,74fi $3,392,143 $17,654,224 Total Budget Amount Other Grants and Ads NR - No CRA Resolution $19,198,857 R -CRA Resolution passed $6,697,256 $25,896,113 $25,896,113 Car Alfowance DMNI Position $3,600 Executive Director - OMN 1 $120,000 Executive Director - Midtown (Reimbursed by Midtown CRA) $2,740 Assistant Executive Director $75,000 Chief Legal Officer $70,000 Director of Policy and Planning $57,p00 Assistant to the Executive Director $43,000 Community Liaison $42,000 Intern ($10/Hour) $20,800 Intern {$20(30 hours) $31,200 Compensated Absences $73,491 Regular Salaries $535,231 Flca taxes $40,945 $40,945 Health/oentallvisloa Insurance OMNI CRA Staff $48,000 Contingency $S,OOO Life and Health insurance $48,444 Retirement Contribution (401K) Executive Director $9,61)0 Assistant Executive Director $3,750 Assistant to the Executive Director $2,150 Community Liaison $2,100 Chief Legal Officer $3,500 Director of Polity and Planning $2,850 Retirement Contr1hution $23,950 Car Alfowance $3,900 Executive Directur - OMNI $3,600 Executive Director - Midtown (Reimbursed by Midtown CRA) $6,000 Chief Legal Officer $2,400 Cell Phone Allawance $2,000 Executive Director -OMNI 51.,200 Executive Director - Midtown (Re€rnbursed by Midtown CRA( $2,401) Assistant. Executive Director $1,5GO Chief Legal Officer $1,200 Director of Policy and Planning $1,20D Fringe Benefits I $19340 ADP - Payroll Processing Fee (26 payroll periods X $150) $3,900 Janitorial Service/ Supplies $9,000 Cirde Security Solutions $2,700 Comcast $2,400 OTIS Elevator Maintenance Service $2,000 Other Contractual Services $201700 To include cost for travel out of the city for conferences and travel allowances, $30 000 Travel and Per Dlem I530644 FPL -Fire House $10,800 Miami Water and Sewer $3,500 Contingency $6,OD0 Utility Service $Z0,3f14 Property insurance/General/Liability Insurance (MEC} $71,166 Property insurance/General/Liability Insurance (Fire Station No 2) $281000 Workers Compensation (CRA Staff) $5000 Insurance 144 16b To include the cost of food associated to CRA Meetings/Ribbon Cutting $5,000 To Include the cost of miscellaneous supplies, $2,000 Sale Tax - 1401 Rest LLC $8,223 Sale Tax - EUE / Screen Gems LTD, Inc MEC $0 2017 MEC Property Taxes $178,177 Other Current Charges 193 444 To include supplies necessary for use In the operation of an office, such as copy 5,000 Supplies I $5,004 To include other supplies not office related. Ex. Misc. Project Construction and $5 000 Operating supplies $5,t)00 To include the cost of memberships to organization, Microsoft license, and $17,000 Subscription Membership 1 $17,000 Purchase of Vehicle $18,000 To Include the cost of new computers $6,000 Machinery and Equipment $24,000 To include the expenses of placing advertisements in the newspapers or other $30000 Advertising 1 $30,000 Konica Minolta Copier $3600 Rental and Leases $3,600 To include the cost of stamps or other related Item. Distribution of newsletter $2,00(1 Postage 1 $2,000 To include the cost associated to any office/truck repair. $2,000 Repair / Maintenance - Outside F$2,000 To include transfer of funds to the City of Miami Office of the City Clerk for $17,500 lnterfund Transfer $1T,Sr70 Total FY 2018 Proposed Budget - Recurrent Expenditures $i,i41,5i32 OMNI Community Redevelopment Agency City of Miami Budget Template Expenditures FY 2013-14 Actual FY 2014-15 Actual FY 2015-16 Actual FY 2016-17 Budget FY 2016-17 Projection FY 2017-18 Proposed Difference Notes Revenues Ad Valorem $11,376,858 $11,723,389 $14,251,949 $17,415,309 $18,129,129 $18,325,101 +$909,792 Sale of Land $1,253,649 Estimate Loan Proceeds $25,000,000 +$25,000,000 Other Revenues $1,082,543 $1,555,027 $1,690,001 $1,140,110 $604,086 $1,159,294 +$19,184 Carryover $19,060,639 $17,842,672 $6,446,886 $7,779,059 $8,903,477 +$1,124,418 Revenue Grand Total $31,520,040 $31,121,088 $23,642,485 $26,334,478 $18,733,215 $53,387,872 $27,053,394 $0 Expenditures General Government $665,925 $656,084 $654,226 $1,139,478 $1,139,478 $1,141,592 +$2,114 Community Redevelopment $13,011,443 $24,018,118 $15,209,200 $25,195,000 $8,690,260 $52,246,280 +$27,051,280 Expenditure Grand Total $13,677,368 $24,674,202 $15,863,426 $26,334,478 $9,829,738 $53,387,872 $27,053,394 $0 Revenues Minus Expenditures 1 $17,842,6721 $6,446,8861 $7,779,0591 $0 $8,903,477 $01 $01$0 Printed: 8/18/2017 3:51 PM Page 1 of 1