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HomeMy WebLinkAboutAgenda Item Summary Form* 1XCpAp.6A^i6^ AGENDA ITEM SUMMARY FORM IB 86 File ID: #2886 Date: 09/15/2017 Requesting Department: Downtown Development Authority Commission Meeting Date: 09/28/2017 District Impacted: All Type: Resolution Subject: Adopt Final Budget for FY 2017-18 - DDA Purpose of Item: The DDA requests that the City Commission adopt the attached Appropriations Resolution for the fiscal year beginning October 1, 2017 and ending September 30, 2018. Background of Item: 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 DDA for the purpose of financing the operations of the DDA. The DDA budget for FY2016-2017 was based on ad valorem revenues of $7,808,726. The proposed DDA budget for FY2017-2018 is based on estimated ad valorem of $8,791,683. This represents an increase in ad valorem of $982,957. Attached for City Commission approval is an Appropriations Resolution for the DDA for fiscal year beginning October 1, 2017 and ending September 30, 2018. Budget Impact Analysis Item has NO budget impact Total Fiscal Impact: <Insert Account information Here> Reviewed By Downtown Development Authority Alyce Robertson Office of Management and Budget Pedro Lacret Office of Management and Budget Christopher M Rose Legislative Division Maricarmen Lopez Office of the City Attorney Maricarmen Lopez Office of the City Attorney Maricarmen Lopez City Commission Nicole Ewan Office of the Mayor Mayor's Office Office of the City Clerk City Clerk's Office Legislative Division Valentin J Alvarez Office of the City Attorney Xavier Alban Office of the City Attorney Barnaby L. Min Office of the City Attorney Victoria Mendez Department Head Review Completed 09/19/2017 7:20 PM Budget Analyst Review Completed 09/20/2017 11:24 AM Budget Review Completed 09/20/2017 1:09 PM Legislative Division Review Skipped 09/28/2017 12:42 PM Deputy City Attorney Review Skipped 09/28/2017 12:42 PM Approved Form and Correctness Skipped 09/28/2017 12:42 PM Meeting Completed 09/28/2017 5:05 PM Signed by the Mayor Completed 09/29/2017 3:02 PM Signed and Attested by the City Clerk Completed 09/29/2017 3:06 PM Legislative Division Review Completed 09/29/2017 5:06 PM ACA Review Completed 09/29/2017 5:17 PM Deputy Attorney Review Completed 09/29/2017 5:21 PM Approved Form and Correctness Completed 09/29/2017 5:21 PM 4�CS O/: I! City of Miami ` City Hall * 9fi 11 IM&0Q:AT10 '® Legislation 3500 Pan American Drive Miami, FL 33133 Resolution www.miamigov.com Enactment Number: R-17-0473 File Number: 2886 Final Action Date:9/28/2017 A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), APPROVING AND ADOPTING THE FINAL ANNUAL BUDGET OF THE DOWNTOWN DEVELOPMENT AUTHORITY ("MIAMI DDA") OF THE CITY OF MIAMI, FLORIDA ("CITY"), ATTACHED AND INCORPORATED, IN THE TOTAL AMOUNT OF $11,940,683.00, AND MAKING APPROPRIATIONS FROM THE DOWNTOWN DEVELOPMENT DISTRICT AD VALOREM TAX LEVY AND OTHER MISCELLANEOUS INCOME FOR THE MIAMI DDA, FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2017 AND ENDING SEPTEMBER 30, 2018; AUTHORIZING THE MIAMI DDA TO INVITE AND ADVERTISE REQUIRED BIDS; PROVIDING FOR BUDGETARY FLEXIBILITY; PROVIDING THAT THIS RESOLUTION BE DEEMED SUPPLEMENTAL AND IN ADDITION TO THE RESOLUTION MAKING APPROPRIATIONS FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2017 AND ENDING SEPTEMBER 30, 2018 FOR THE OPERATIONS OF THE CITY. WHEREAS, Section 14-59 of the Code of the City of Miami, Florida, as amended ("City Code"), provides that the Downtown Development Authority ("Miami DDA") of the City of Miami, Florida ("City") shall submit its annual budget for its operations to the City Commission for approval; and WHEREAS, the Board of Directors of the Miami DDA approved and adopted the Miami DDA's preliminary budget for Fiscal Year 2017-2018 on July 21, 2017, pursuant to DDA Resolution 28/2017; and WHEREAS, the City Commission approved and adopted the Miami DDA's tentative budget for the Fiscal Year 2017-2018 on September 19, 2017, pursuant to City Commission Resolution No.17-0428; and WHEREAS, the Miami DDA requests the approval of the final budget, attached and incorporated as Exhibit "A," for the Fiscal Year commencing October 1, 2017 and ending September 30, 2018, in the total amount of $11,940,683.00; NOW, THEREFORE, BE IT RESOLVED, BY THE COMMISSION 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 as if fully set forth in this Section. Section 2. The Miami DDA's final annual budget, attached and incorporated as Exhibit "A," in the total amount of $11,940,683.00, for the operations of the Miami DDA for the Fiscal Year commencing October 1, 2017 and ending September 30, 2018, is approved and adopted. Section 3. With the exception of the $317,000.00 contribution to the Tri -Rail Downtown Miami Link Project, the abovementioned operating expenditures are merely anticipatory and thus, the Board of Directors of the Miami DDA is hereby authorized to withhold any of these appropriated funds from encumbrance or expenditure should such action appear advantageous to the economic and efficient operation of the Miami DDA Section 4. The Miami DDA is further authorized to make transfers between the detailed accounts comprising any of the amounts appropriated in Section 2 above so that any available and required balance in such accounts may be used for other necessary and proper purposes. Section 5. Subject to Chapter 18 of the City Code, the Miami DDA is further authorized to solicit bids for the purposes of procuring any materials, supplies, equipment, and services embraced in the amounts appropriated in Section 2 above for which formal bidding is required with such bids being returnable as required by law. Section 6. This Resolution shall be deemed supplemental and in addition to the Resolution making appropriations for the operations of the City for the Fiscal Year commencing October 1, 2017 and ending September 30, 2018. Section 7. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.' APPROVED AS TO FORM AND CORRECTNESS: 1 i t6ria i ' ndez, City Attor ey 9/29/2017 ' If the Mayor does not sign this Resolution, it shall become effective at the end of ten (10) calendar days from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become effective immediately upon override of the veto by the City Commission.