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Third Amendment to the Interlocal Cooperation Agreement ,D oICf_ 8 83S- THIRD AMENDMENT TO THE INTERLOCAL COOPERATION AGREEMENT This Third Amendment to the Interlocal Agreement ("Third Amendment"), made this day of JC i_ -o. - , 201 ("Effective Date"), by and amon g Miami-Dade County, a political subdivision of the State of Florida (hereinafter referred to as the "County"), the City of Miami Beach, a municipal corporation under the laws of the State of Florida (hereinafter referred to as the "City"), and the Miami Beach Redevelopment Agency, a public agency and body corporate created pursuant to Section 163.356, Florida Statutes (hereinafter referred to as the"Agency"). WHEREAS, the Miami-Dade County Board of County Commissioners (the "Board") adopted Resolution No. R-317-93 on March 30, 1993, approving, among other things, the City Center/Historic Convention Village Redevelopment and Revitalization Plan (the "Plan") and delegated certain powers conferred on the Board by Part III, Chapter 163, Florida Statutes (the "Act"), to implement the Plan to the Mayor and City Commission of the City of Miami Beach (the "City Commission"), all for the project area commonly called "City Center/Historic Convention Village Redevelopment and Revitalization Area" (such Area previously referred to in the Interlocal Agreement described below, as the "Project" and herein referred to as the "Redevelopment Area"); and WHEREAS, the Board also enacted Ordinance No. 93-28 on April 27, 1993, which among other things, established a trust fund ("Fund" or "Trust Fund") to fund improvements in the Redevelopment Area; and WHEREAS, the County and the City also approved and entered into the Interlocal Cooperation Agreement, executed on November 16, 1993 (as amended by the First Amendment 4299801/2/MIAMI (defined below) and by the Second Amendment (defined below), the "Interlocal Agreement"), by which the County delegated to the City certain redevelopment powers granted by the Act, including but not limited to the creation of the Redevelopment Area and implementation of the Plan; and WHEREAS, the County and the City adopted Resolution No. R-889-03 and Resolution No. 2003-2537, respectively, approving an amendment to the Plan to incorporate the development and implementation of community policing initiatives; and WHEREAS, the Board, through Resolution No. R-889-03, and the City Commission, through Resolution No. 2003-25241, also approved an amendment to the Interlocal Agreement ("First Amendment") to delegate to the City the power to implement the community policing initiatives; and WHEREAS, the Board, through Resolution No. R-958-05, and the City Commission, through Resolution No. 2004-25560, also approved a second amendment to the Interlocal Agreement ("Second Amendment") whereby (i) the County, City, and Agency agreed that the Agency would remit one and one-half percent (1.5%) of the Tax Increment Revenue paid to the Agency for said fiscal year to the County to defray administrative costs for oversight and processing Agency related items, after debt service and all other obligations related to the bonds or future indebtedness issued by the Agency and approved by the County was satisfied for the fiscal year, and (ii) the County approved the Agency's issuance of refunding bonds in an amount not to exceed a principal amount of $101,090,000.00 to refinance all or a portion of the outstanding principal amount of bonds issued with respect to the Redevelopment Area; and WHEREAS, the County, City and Agency also desire to amend the Convention Development Tax ("CDT") Interlocal Agreement from 1 996, as amended (the "1996 CDT 2 Interlocal Agreement") to, among other things, allow for the use of CDT revenues to pay for the operations and maintenance and debt service for the Convention Center Project (as such project is hereinafter defined); and NOW, THEREFORE, for and in consideration of the premises and the mutual covenants recorded herein, the County, the City and the Agency agree as follows: A. The recitations set forth above are true and correct and adopted as part of this Third Amendment. B. Paragraph III "City Responsibilities," subparagraph C, "Project Financing," sub- subparagraph 3, of the Interlocal Agreement is hereby amended to read as follows: 3. The City shall prepare and submit for County approval at the beginning of each County fiscal year the Project budget in a format approved by the County. The Board waives Section 3 of County Resolution No. R-871-11 requiring the Agency to submit timely budgets for approval by the Board prior to the Agency borrowing money, advancing funds or incurring indebtedness proposed to be repaid from or secured by the Agency's Tax Increment Revenues. C. Paragraph III "City Responsibilities", subparagraph C, "Project Financing," of the Interlocal Agreement is hereby amended to add the following sub-subparagraphs 6 7, and 8 respectively: 6. The Board has approved and authorized pursuant to Resolution No. Z-1110- , adopted on 12/1 b/zol 4 the issuance by the Agency of bonds pledging Tax Increment Revenue from time to time, in an aggregate principal amount not to exceed $430 million, and maturing not later than March 31, 2044, in one or more series (without regard to the year(s) of issuance, the "2015 Bonds"), which will provide funds for the following purposes only: a. the amount necessary to refund the outstanding Tax Increment Revenue Bonds, Taxable Series 1998A, Taxable Series 2005A and Series 2005B (collectively, the"Outstanding Bonds"); b. approximately $275 million to fund a portion of the design, development and construction of the Convention Center 3 project, (which project is currently estimated to cost a total of$582 million and is more fully described in Exhibit "A', attached hereto and incorporated herein by this reference (the "Convention Center Project"); c. approximately $36 million for the ancillary Redevelopment Area capital projects, which are more fully described in Exhibit `B," attached hereto and incorporated herein by this reference; and d. All costs of issuance and debt service reserves associated with the 2015 Bonds. 7. The parties agree that any Tax Increment Revenue shall be used in accordance with this Agreement. Any Tax Increment Revenue not used in accordance with this Agreement shall be refunded by the Agency to the taxing authorities in the same percentage as it was contributed, but solely from available Tax Increment Revenues after satisfying all obligations on, or related to, Agency Indebtedness (as hereinafter defined). 8. In addition to the 2015 Bonds, the City also plans to issue City of Miami Beach Resort Tax Revenue Bonds and Parking Revenue Bonds to complete the financing required for the Convention Center Project. D. Paragraph V, "Board Approval," of the Interlocal Agreement is hereby amended to read as follows: Any approval required by the Board as to the annual budget, amendments to the Plan, or amount, duration and purpose of bonds, notes or other indebtedness for the Redevelopment Area shall not be unreasonably withheld, conditioned, or delayed, or adversely affect any matters previously approved either in a previous annual budget or pursuant to any previously approved bond, note or other form of indebtedness pledging or obligating Tax Increment Revenues. E. The Interlocal Agreement is amended to add the following Paragraph: 4 VII. Extension of Taxing Authorities' Payments. Except as specifically set forth herein, the obligation of each taxing authority to deposit into the Trust Fund pursuant to the Act solely for the uses authorized in the Amended Plan and this Interlocal Agreement is extended until the earlier of March 31, 2044, or the date Agency Indebtedness (as defined below) is no longer outstanding. F. The Interlocal Agreement is amended to add the following Paragraph: IX. Tax Increment District Extension The City and Agency represent that as of the Effective Date the only indebtedness pledging Tax Increment Revenues that remains outstanding are the Outstanding Bonds. The City and the Agency covenant and agree that the City or Agency, as the case may be, shall not issue any additional indebtedness, other than the 2015 Bonds, pledging Tax Increment Revenue unless and until such indebtedness has been authorized by the Board. The Outstanding Bonds, the 2015 Bonds and any additional indebtedness pledging Tax Increment Revenues authorized by the Board are collectively referred to in this Agreement and defined as the "Agency Indebtedness." The Agency, within ten (10) days after the maturity and payment or defeasance of all Agency Indebtedness, shall give written notice to the taxing authorities that all Agency Y Indebtedness has been defeased or has matured and been paid (the "Defeasance Notice"). The terms "defeasance" or "defeased," as used in this Agreement with respect to Agency Indebtedness, shall mean the legal release of the lien on the Tax Increment Revenues through the establishment of an irrevocable escrow in an amount sufficient to pay, when due, the Agency Indebtedness being refunded. The City, Agency and the County agree that the taxing authorities' obligation to contribute to the Fund will cease as of the date of the Defeasance Notice. The Agency shall distribute all revenues remaining in the Fund at that time only as provided and in the order of priority set forth in Paragraph XII of this Interlocal Agreement to the extent any of the required distributions set forth in such section remain unpaid for such fiscal year, with any revenues that remain after payment of all such amounts to be distributed to each taxing authority in the proportion that the amount of contribution by such taxing authority bears to the total amount contributed by all taxing authorities for that fiscal year. The Agency shall remit such revenues to the taxing authorities no later than thirty (30) days from the date of the Defeasance Notice. The parties agree that upon final distribution of all revenues in the Fund, the Redevelopment Area and tax increment district shall be 5 deemed terminated and the Agency will sunset and cease to exist as of such date. G. The Interlocal Agreement is amended to add the following Paragraph: X. Miami-Dade County or Other Taxing Authority Representation As required in Section 1 of County Resolution No. R-1382-09 and Section 2 of County Resolution R-871-11, and as provided in Section 163.357(1)(d) of the Florida Statutes, the Board shall have the right, in its sole and absolute discretion, to appoint a member of the Agency, who shall be the Commissioner of County Commission District 5, and such Commissioner shall be vested with the same rights, duties and obligations as any other Agency commissioner. Said membership on the Agency's board of commissioners shall be considered an additional duty of office as prescribed by Section 163.357(1)(d) of the Florida Statutes. Such appointment by the Board shall be immediate and will become part of the Agency's board of commissioners without further action from the Agency required. H. The Interlocal Agreement is amended to add the following Paragraph: XI. The Children's Trust Exemption The County, the City and the Agency agree that pursuant to Section 2-1742 of the Code of Miami-Dade County, The Children's Trust, an independent special taxing district, shall be exempt from the provisions of Section 163.387(2)(a) of the Florida Statutes, commencing the earlier of March 31, 2023, or the date that the Outstanding Bonds are defeased or mature and are paid. If required, the parties further agree to negotiate and execute an amended interlocal agreement with The Children's Trust to codify the terms and condition of such exemption. Annual Tax Increment Revenues attributable to The Children's Trust shall not be pledged by the Agency toward the repayment of the 2015 Bonds or any new indebtedness pledging Tax Increment Revenues approved by the Board. Until such time as The Children's Trust is exempt from the provisions of Section163.387(2)(a) of the Florida Statutes, the provisions of the Interlocal Agreement among the City, Agency and County as adopted by the Board on July 27, 2004 (Resolution No. R-973-04), as fully described in Exhibit C, apply to the distribution of the Tax Increment Revenues attributable to The Children's Trust. 6 The Interlocal Agreement is amended to add the following Paragraph XII. Distribution of Trust Fund Revenues All Tax Increment Revenues shall be deposited in the Trust Fund as required by law, and the parties agree that all funds in the Fund shall be distributed annually, only as provided and in the order of priority as set forth below: A. Beginning Fiscal Year 2014-15, to pay the first $500,000 in current expenses and debt service, reserve deposits and other costs and obligations associated with the Outstanding Bonds until such time as the Outstanding Bonds have been refunded or are no longer outstanding. B. Beginning Fiscal.Year 2014-15, to remit to The Children's Trust the legally available portion of Tax Increment Revenues attributable to The Children's Trust until exemption, or until such time as the Outstanding Bonds have been refunded or are no longer outstanding. C. Beginning Fiscal Year 2014-15, to pay debt service, reserve deposits and other costs and obligations associated with the 2015 Bonds and any other Agency Indebtedness. D. In addition to the annual funding that the City currently receives from Convention Development Taxes, pursuant to Section II.A.1 of the 1996 CDT Interlocal Agreement, beginning in FY 2017-18, and ending the earlier of the termination or expiration of the taxing authorities' obligation to appropriate Tax Increment Revenues to the Fund, or the date that the Convention Center is no longer in operation as a publicly owned convention center, the Agency shall remit to the City a Convention Center operating and maintenance subsidy in the annual amounts for such years set forth below. For FY 2017-18, the amount of the annual subsidy is equal to $1 million. This amount will increase by $750,000 each fiscal year thereafter until it equals $4 million in FY 2021-22. For FY 2022-23, through and including FY 2024-25, the annual subsidy will remain equal to $4 million. Beginning FY 2025-26, and ending the earlier of the termination or expiration of the taxing authorities' obligation to appropriate the Tax Increment Revenues to the Fund or the date that the Convention Center is no longer in operation as a publicly owned convention center, the annual subsidy shall equal the prior 7 fiscal year's annual subsidy adjusted by the lesser of the Miami Urban Area CPI to be calculated using the Miami Fort Lauderdale All Urban Consumers CPI from July to June for the prior year or 4 percent annually. The City and the Agency agree that such funds shall only be used to fund operating and maintenance costs of the Convention Center. Notwithstanding and prevailing over any provision to the contrary herein, if the County grants CDT funds to the Agency or the City pursuant to Section II.A.3 of the CDT Interlocal for the purpose of funding Convention Center operating and maintenance costs such amount referred to as (the "CDT Grant"), the annual subsidy payment to be funded with increment revenues pursuant to the prior paragraph shall be reduced by an amount equal to the CDT Grant. E. Beginning FY 2023-24, and until the earlier of March 31, 2044, or the termination or expiration of the taxing authorities' obligation to appropriate the Tax Increment Revenues to the Fund, the Agency agrees to grant to the County an amount equal to the County's proportionate share of the total payments expended by the Agency in the prior fiscal year for Administration, Community Policing, and Capital Project Maintenance (defined below). Such grant shall be paid to the County by March 31 of each year and shall be based on the previous year's expenses for Administration, Community Policing, and Capital Project Maintenance. The amount granted annually shall be calculated as follows: The County's share of total Tax Increment Revenues deposited into the Trust Fund for that particular year divided by the total Tax Increment Revenues collected from all taxing authorities and deposited in the Trust Fund for that particular year, multiplied by the amount of expenses paid by the Agency in the previous fiscal year for Administration, Community Policing and Capital Project Maintenance. F. Beginning in FY 2014-15, and ending on the earlier of termination or expiration of the taxing authorities' obligation to appropriate Tax Increment Revenue to the Fund, Tax Increment Revenues shall fund the Agency's expenses for Administration, Community Policing, and Capital Project Maintenance, defined to include only those categories listed in the Agency's FY 2013-14 adopted 8 budget approved by the Board pursuant to County Resolution No. R-512-14, a copy of which is attached hereto as Exhibit D and is incorporated herein by this reference. For fiscal year 2014-15, the use of Tax Increment Revenues for such expenses shall not exceed $11.721 million which has been adjusted for CPI as defined below, of which $11.251 Million is the aggregate amount budgeted for these items, as referenced in Exhibit D plus an additional $200,000 for Capital Project Maintenance (which shall not be used for maintenance of the Pennsylvania Avenue Shops and Garage). Beginning fiscal year 2015-16 and each fiscal year thereafter, the use of Tax Increment Revenues to fund the Agency's expenses for Administration, Community Policing, and Capital Project Maintenance shall not exceed the prior fiscal year's distribution for such expenses (for example, $11.721 million was the distribution in fiscal year 2014-15), adjusted by the lesser of the Miami Urban Area CPI or 3 percent annually to be calculated using the Miami Fort Lauderdale All Urban Consumers CPI from July to June for the prior year. Additionally the Agency will pay the County an administrative fee based on 1.5 percent of the County's Tax Increment Revenue contribution in that year. The Agency will also pay the City 1.5 percent of the City's Tax Increment Revenue contribution in that year. G. In FY 2014-15 and FY 2015-16, respectively the Agency will reimburse the City for the Bass Museum and Lincoln Road prior project costs of $1,288,032.62 in FY 2014-15, and $1,286,464.26 in FY 2015-16. H. Beginning FY 2014-15 and ending on the earlier of March 31, 2023, or the termination or expiration of the taxing authorities' obligation to appropriate Tax Increment Revenue to the Trust Fund, the Agency shall, within ninety (90) days from the conclusion of each fiscal year, deposit any unencumbered amounts on deposit in the Trust Fund and all available revenues remaining after distribution of Tax Increment Revenues in the order, priority and amounts set forth in Sections A through G above, into a fund to be used for the purposes of financing any shortfalls associated with the payment of the expenses as listed in Section F above. Such deposits to such fund shall only be made if it will not negatively affect the exclusion from gross income, for federal income tax purposes, of interest on any tax- exempt Agency Indebtedness. All other remaining 9 revenues will be used to extinguish Agency Indebtedness early, but not prior to FY 2023-24, to the extent such Agency Indebtedness is subject to prepayment or redemption prior to maturity at such time or, if such Agency Indebtedness is not then subject to prepayment or redemption prior to maturity, to establish an escrow for the prepayment or redemption prior to maturity of such Agency Indebtedness at such time as the Agency Indebtedness is subject to prepayment or redemption prior to maturity; provided, however, that such escrow shall only be established if it will not negatively affect the exclusion from gross income, for federal tax purposes, of interest on any such tax-exempt Agency Indebtedness. The City and the Agency agree not to issue Capital Appreciation Bonds or similar debt that does not pay interest on a current basis. The City and the Agency also agree that any Agency Indebtedness pledging Tax Increment Revenues issued for the purposes set forth herein shall include a call provision allowing such Agency Indebtedness to be called no later than ten (10) years after initial issuance. If the Agency Indebtedness is not subject to repayment or redemption prior to maturity, and an escrow cannot be established, then the Agency shall distribute annually any revenues remaining on deposit in the Fund after distribution as set forth in Sections A through G above, to the taxing authorities in the proportionate manner as it was deposited. Beginning FY 2023-24, and ending on the earlier of March 31, 2044, or the termination or expiration of the taxing authorities' obligation to appropriate Tax Increment Revenues to the Fund, the Agency shall, within ninety (90) days from the conclusion of each fiscal year, use any unencumbered amounts on deposit in the Trust Fund and all available revenues remaining after distribution of Tax Increment Revenues in the order, priority and amounts set forth in Sections A through G above to extinguish Agency Indebtedness early, to the extent such Agency Indebtedness is subject to prepayment or redemption prior to maturity at such time or, if such Agency Indebtedness is not then subject to prepayment or redemption prior to maturity, to establish an escrow for the prepayment or redemption prior to maturity of such Agency Indebtedness, at such time as the Agency Indebtedness is subject to prepayment or redemption prior to maturity; provided, however, that such escrow shall only be established if it will not negatively affect the exclusion from gross income, for federal tax purposes, of interest on any such tax-exempt Agency 10 Indebtedness. The City and the Agency agree not to issue Capital Appreciation Bonds or similar debt that does not pay interest on a current basis. The City and the Agency also agree that any Agency Indebtedness pledging Tax Increment Revenues issued for the purposes set forth herein shall include a call provision allowing such Agency Indebtedness to be called no later than ten (10) years after initial issuance. If the Agency Indebtedness is not subject to prepayment or redemption prior to maturity, and an escrow cannot be established, then the Agency shall distribute annually any Tax Increment Revenues remaining on deposit in the Fund after distribution as set forth in Sections A through G above to the taxing authorities in the proportionate manner as it was deposited. J. The Interlocal Agreement is amended to add the following Paragraphs: XIV. Inspector General Review A. Independent Private Inspector General Reviews Pursuant to Miami-Dade County Administrative Order 3-20, the County has the right to retain the services of an Independent Private Sector Inspector General (hereinafter "IPSIG"), whenever the County deems it appropriate to do so. Upon written notice from the County, the Agency shall make available to the IPSIG retained by the County, all requested records and documentation pertaining to this Third Amendment for inspection and reproduction. The County shall be responsible for the payment of these IPSIG services, and under no circumstance shall the Agency incur any charges relating to these IPSIG services. The terms of this provision herein, apply to the Agency, its officers, agents, employees, Subcontractors and assignees. Nothing contained in this provision shall impair any independent right of the County to conduct an audit or investigate the operations, activities and performance of the Agency in connection with this Third Amendment. The terms of this Article shall not impose any liability on the County by the Agency or any third party. B. Miami-Dade County Inspector General Review According to Section 2-1076 of the Code of Miami-Dade County, as amended by Ordinance No. 99-63, Miami-Dade County has established the Office of the Inspector General which may, on a random basis, perform audits on all County agreements, throughout the duration of said agreements, except as otherwise provided below. 11 Nothing contained above shall in any way limit the powers of the Inspector General to perform audits on all County agreements including, but not limited to, those agreements specifically exempted above. The Miami-Dade County Inspector General is authorized and empowered to review past, present and proposed County and Agency contracts, transactions, accounts, records, agreements and programs. In addition, the Inspector General has the power to subpoena witnesses, administer oaths, require the production of records and monitor existing projects and programs. Monitoring of an existing project or program may include a report concerning whether the project is on time, within budget and in conformance with plans, specifications and applicable law. The Inspector General is empowered to analyze the necessity of and reasonableness of proposed change orders to a contract. The Inspector General is empowered to retain the services of independent private sector inspectors general (IPSIG) to audit, investigate, monitor, oversee, inspect and review operations, activities, performance and procurement process, including but not limited to project design, specifications, proposal submittals, activities of the Agency, its officers, agents and employees, lobbyists, County staff and elected officials to ensure compliance with contract specifications and to detect fraud and corruption Upon written notice to the Agency from the Inspector General or IPSIG retained by the Inspector General, the Agency shall make all requested records and documents available to the Inspector General or IPSIG for inspection and copying. The Inspector General and IPSIG shall have the right to inspect and copy all documents and records in the Agency's possession, custody or control which, in the Inspector General's or IPSIG's sole judgment, pertain to performance of the contract, including, but not limited to original estimate files, change order estimate files, worksheets, proposals and agreements form and which successful and unsuccessful Subcontractors and suppliers, all project- related correspondence, memoranda, instructions, financial documents, construction documents, proposal and contract documents, back-charge documents, all documents and records which involve cash, trade or volume discounts, insurance proceeds, rebates, or dividends received, payroll and personnel records, and supporting documentation for the aforesaid documents and records. 12 XV. Convention Center Project Oversight The City agrees that the County may, at its sole cost and expense, assign a representative (i.e., an owner's representative for the County), as its project manager to monitor and provide feedback to the County on all aspects of the City's development of the Convention Center Project. XVI. Local Hiring Goals and Responsible Wages The City supports and encourages the application of local workforce hiring and responsible wages for the Convention Center Project, and ancillary projects listed in Exhibit B. K. All provisions of the Interlocal Agreement, other than the provisions specifically amended herein, remain in full force and effect. [SIGNATURES APPEAR ON THE FOLLOWING PAGE] 13 IN WITNESS WHEREOF, the parties have executed this Third Amendment as of the date first written above. CITY OF MIAMI BEACH MIAMI-DADE COUNTY / l B a4-614) "Al By: �� Carlos A. Gimen;z Phi Moro Mayor ATT S ' ATTEST By: ��' r`'� By. ` �--a-- : � : Exhibit"A" Convention Center Project Convention Center Renovation and Expansion The Convention Center Project will modernize and upgrade the Convention Center facility and surrounding area to be more competitive within the trade/consumer show and convention industries. The project to reconstruct, construct, reconfigure, modernize and expand the Convention Center and related/accessory facilities including the siting of private lodging facilities near or adjacent to the facility may include, but not be limited to: redesign and reconstruction of the convention center building and site; upgrading media, communications, and other area technology; alterations to on and off site parking; on site and off site aesthetic improvements; expansion/addition or reconfiguration of facilities to include a ballroom or similar amenities; operation and maintenance of facilities for a period during and after construction, location or relocation of other area facilities directly related to the Convention Center and/or its ability to attract additional users. A-1 Exhibit"B" $36 Million Ancillary Projects City of Miami Beach Redevelopment Agency List of Ancillary Projects Bass Museum Interior Space Expansion: Renovation of Bass Museum interior to increase programmable space by 47% Estimated Cost: $3,750,000 Convention Center Lincoln Rd Connectors & 17th St N. Improvement Penn Ave to Wash: Enhance the pedestrian experience from the Convention Center complex to Lincoln Road along Drexel Avenue, Pennsylvania Avenue and Meridian Avenue. Work to consist of new lighting, sidewalk reconstruction, street furnishings, landscaping, healthy tree fertilization systems, road reconstruction, cross walk enhancements. Improvements to 17th Street from Pennsylvania Avenue to Washington Avenue will consist of landscaping, irrigation, pedestrian lighting and sidewalk replacement. Estimated Cost: $12,000,000 Lincoln Rd / Washington Ave to Lenox Ave: Refurbishment of Lincoln Road pedestrian mall from Washington Avenue to Lenox Avenue. Work to consist of new lighting, refurbishing pedestrian surfaces, street furnishings, healthy tree fertilization systems, milling and resurfacing pavement surfaces and cross walk enhancements. Estimated Cost: $20,000,000 A-2 Exhibit"C;, Children's Trust Interlocal B-1 INTERLOCAL AGREEMENT AMONG CITY OF MIAMI BEACH, MIAMI BEACH REDEVELOPMENT AGENCY, MIAMI-DADE COUNTY,FLORIDA THE CHILDREN'S TRUST, This Interlocal Agreement ("Agreement") is among the City of Miami Beach, Florida, (the "City"), the Miami Beach Redevelopment Agency (the "CRA"), Miami- Dade County, Florida (the "County") and The Children's Trust, Miami-Dade County (" The Trust"), an independent special taxing district, for the purpose of establishing the use of tax increment revenues to be derived,from the imposition of a half mill tax levy by The Trust against real property located within the jurisdictions of the CRA (the "Trust Revenues"), WHEREAS,The Trust was established as a result of a county-wide referendum in which the electors of the County approved the creation of The Trust and its imposition of a not to exceed half mill tax levy against all non-exempt real property in Miami-Dade County for the purpose of funding improvements to children's health, development and safety and promoting parental and community responsibility for children who reside in Miami-Dade County; and WHEREAS, Chapter 163, Part III, Florida Statutes, also known as the Community Redevelopment Act of 1969 (the "Act"), provides for the creation of community redevelopment agencies and governs the use of moneys in the redevelopment trust funds created in accordance with the Act(each,a"Fund"); and WHEREAS, the City Commission accepted a delegation of powers from the Miami-Dade County Board of Commissioners (the `Board"), found a need for and created the CRA to have jurisdiction over all of its community redevelopment districts, declared members of the City Commission to be the members of the Agency, granted the Agency the power to exercise certain powers permitted by the Act to the extent delegated by the Board to the Agency and directed the initiation, preparation and adoption of community redevelopment plans by the Agency for its two community redevelopment districts known as City Center/Historic Convention Village and South Pointe ("CRA Districts");and WHEREAS, the CRA has various series of community redeyAligpment revenue, AAA bonds currently outstandin g in the aggregate principal amount of $: a (the "Bonds") issued under certain bond resolutions (the "Bond Resolutions") to which the CRA has pledged all current and future tax increment revenues the CRA is entitled to receive pursuant to the Act from all non-exempt taxing authorities including tax increment revenues from any additional tax levies created subsequent to the issuance of the Bonds such as The Trust Revenues; and 2 WHEREAS, the City has pledged certain City revenues to the holders of the Bonds as a additional security for the Bonds; and WHEREAS, as an independent special taxing district, The Trust is eligible to share in any tax increment revenues not budgeted for a particular use and remaining at the end of the CRA's fiscal year in the Fund established for each CRA community redevelopment district; and WHEREAS, the Board enacted Ordinance No. 03-210 (the "Ordinance") with an effective date of October 17, 2003 that established a policy that before the Board will consider any matter concerning a community redevelopment agency, including the approval of an annual CRA budget, a governing body such as the City shall first exempt The Trust pursuant to the Act from having to deposit its Trust Revenues with the community redevelopment agency; and WHEREAS,the City is unable to obtain review of its matters, including the CRA budget, by the Board because it cannot comply with the Ordinance without violating the CRA's pledges to the holders of the Bonds that requires all present and future tax increment revenues from each CRA District to be available for the repayment of debt service on the Bonds relating to such CRA District;and WHEREAS, the City, the CRA and the County wish to assist The Trust and to effectuate the will of the electorate by agreeing to remit The Trust Revenues to The Trust pursuant to the provisions of this Agreement; and o WHEREAS, approximately ten percent (10%) of the ad valorem tax revenue collected in Miami-Dade County is from residents of the City and; WHEREAS, The Trust collects approximately $6 million in ad valorem tax revenues from the residents of the City which is ten percent (10%) of the ad valorem tax revenue it collects and; WHEREAS,there are children and families who reside in the City and are in need of the services described in The Trust's Strategic Framework 2003-2007 and there are a number of agencies which may provide quality services to these children and families if provided financial assistance; and WHEREAS, in exchange for the City's and the CRA's cooperation, The Trust will make funds available for children's programs within the City in the amount of The Trust Revenues annually upon the conditions set forth in this Agreement; and WHEREAS, the City, the CRA, the County and The Trust desire to enter into this Agreement in order to establish their cooperation and agreement with respect to the use of The Trust Revenues, 3 NOW THEREFORE,the parties agree as follows: Section 1. The recitals above are incorporated in Section 1 of this Agreement. Section 2. The City, the CRA and the County agree that the CRA shall: (i) use The Trust Revenues for debt service on, and other obligations relating to, the Bonds under the applicable Bond Resolutions only after all other tax increment revenues under the applicable Bond Resolutions have been exhausted for such purpose; and (ii) remit to The Trust on the last day of the CRA's fiscal year, all of the Trust Revenues that are not needed for debt service on, and other obligations relating to, the Bonds under the applicable Bond Resolutions and are eligible to be refunded pursuant to the Act, and the applicable Bond Resolutions. Section 3. The Trust will make available funds in the amount of Trust Revenues annually for programs and services to children and families within the City, through a competitive process, to the City and/or agencies and organizations that provide said_programs and services within the City. However, in order to receive funding, the City and/or agency or organization must provide a program or service that falls within The Trust's funding priorities and quality standards. The City and/or agency or organization is in no way restricted from participating in, and shall not be prejudiced by, any and all other competitive funding opportunities offered by The Trust. Section 4. This Agreement shall be effective upon execution by all parties and shall continue for as long as The Trust is in existence and can levy ad valorem taxes. Section 5. This Agreement is made in the State of Florida and shall be governed according to the laws of the State of Florida. Proper venue for this Agreement shall be Miami-Dade County,Florida. Section 6. Any alterations,variations, modifications, extensions or waivers of provisions of this Agreement shall only be valid when they have been reduced to writing, duly approved and signed by both parties and attached to the original of this Agreement. Section 7. This Agreement is signed in four (4) counterparts, and each • counterpart shall constitute an original of this Agreement. Section 8. This Agreement contains all the terms and conditions agreed upon by the parties. No other Agreement,.oral or otherwise, regarding the subject matter of this Agreement shall be deemed to exist or bind any of the parties hereto. If any provision of this Agreement is held invalid or void,the remainder of this Agreement shall not be affected thereby if such remainder would then continue to conform to the terms and requirements of applicable law. 4 IN WITNESS WHEREOF,the parties have caused this Agreement to be executed by their respective and duly authorized officers as of the day and year first above written. (SEAL) ATTEST: C. 11F,411, I BEACH,FLORIDA V ?Ctitth . Robert Parcher, City Clerk Da 1 1 e er,Mayor ATTEST: �=E 2 CH REDEVELOPMENT AGENCY POtAit Secretary . • ATTEST: MIAMI-DADE COUNTY,FLORIDA _Air/ AlLikr - f (A Co / Signa e of Au orized Representative k. e si zco Nu ry z Print Name and Title • . m9 4% :t * •$ ATTEST: THE CHILDREN'S TRUST,MIAMI DADE COUNTY Valria C. Screen, S etary Modesto E.Abetygresident . 0 APPROVED AS TO FORM&LANGUAGE &FOR EXECUTION City Attom-';"i► Date Exhibit"D" Resolution No.R-512-14 City Center FY 2013-14 Budget A-2 OCIAL FILE COPY CLERK OF THE BOAR OF COiNi COMMIESSIONERS MIAMI-DADE COUNTY,FLORIDA MEMORANDUM Agenda Item No 8(G)(1) TO: Honorable Chairwoman Rebeca Sosa DATE: June 3, 2014 and Members, Board of County Commissioners FROM: R. A. Cuevas, Jr. SUBJECT: Resolution approving Miami County Attorney Beach City Center Community Redevelopment Agency Fiscal Year 2013-14 budget Resolution No. R-512-14 The accompanying resolution was prepared by the Office of Management and Budget and placed on the agenda at the request of Prime Sponsor Finance Committee. to R. A. C Cevas, County Attorney RAC/smm 1 Memorandum MIAM.IE COUNTY Date: June 3,2014 To: Honbrable.:Chairwoman Rebecaa Sosa. and Members,,Board of Count ) imissioners From,: Carlos A. Gimenez 7 _ Mayor - 4=i4:.�:._ . - Subject: FY 2013-14 Budget for the Miami - ch•City Center Community Redevelopment Agency Recommendation . It is recommended that the Board of County Commissioners (Board) consider-approving the Miami: Beach City Center Community Redevelopment Agency's (Agency's) FY 2013-14 budget for the City • Center Community Redevelopment Area(Area). Scope of Agenda Item The Area lies within Commission District 5, which is represented by Commissioner Bruno A. Barreiro. Fiscal Impact I Funding Source. The: Agency's revenue source is tax increment financing (TIF), which is generated through the incremental growth of ad valorem revenues beyond an established base year as defined in Section 163.387 of the Florida State Statutes. County and City of Miami Beach (City) tax increment revenues. deposited into the trust fund for FY 2013-14 total $15,918,000 and $19;840.,000; respectively. The County will continue to make annual payments to the Agency, based on each respective year's growth of ad valorem revenues.over the base year; through 2023., when the:Agency Will sunset Track Record I Monitor This resolution does not provide for contracting with any specific entity. The resolution approves the Agency's FY 2013-14 budget.. Background On_January 26, 1993, the Board approved the establishment of the.Agency when it declared the Area to be slum and blighted pursuant to Resolution R-14-93 The Board approved the Agency's Community Redevelopment Plan (Plan) and its funding when it enacted Resolution R-317-93 and Ordinance 93-28, respectively. An lnterlocal Agreement among the. County, the City; and the Agency and the :Plan were approved by the Board on March:30, 1993, requiring the Agency to submit an annual budget for County approval. FY 201.3-14 Budget r The Agency's. FY 2013-14:budget is $43,000,000, which was approved by the Agency on September 30, 2013,. The budget includes revenue sources of County TIF Revenues. ($15,918;000), City TIF Revenues ($1-.9;840,00:0), Resort Tax Contributions($5,386,000), a 1/2 mill levy to be set aside for the Children's Trust($1,831,000), and interest earnings ($25,000). Administrative expenditures for the Agency's operations, including the City Administrative Charge for general oversight ($283,000), total $2,244,000 and represent approximately five percent of total budgeted expenditures, excluding the 1.5 percent County Administrative Charge ($239,000), which is. less than the 20:percent allowed in the Interlocal Agreement. 2 Honorable Chairwoman Rebeca Sosa and Members, Board of County Commissioners Page 2 Operating expenditures total $39,791,000 and are broken down as follows: • $18,443,000 for Capital Projects including: • Collins Park Parking Garage ($12,242,000); • Bass Museum Interior Space Expansion and Capital Contribution ($4,797,000); • Euclid Avenue Improvements at Lincoln Road ($69,000); • City Center—Various sidewalk and street improvements Commercial District ($326,000); • Lincoln Road Master Plan Study ($500,000); • City Center Legal Fees ($350,000); and • Agency's Capital Fund Balance Shortfall ($2,390,000). • Additionally, the capital project fund credit of $2,231,000 is a result of projects that were underspent and closed out. • $9,922,000 for debt service including: • Series 2005 Bonds and the combined debt service on the Parity Bonds ($8,550,000); • Sunshine State Loan for the reconstruction/renovation of Lincoln Road ($825,000); and • Loans for the Bass Museum Project ($547,000). • $305,000 to Pennsylvania Avenue garage and shops to offset operational costs. • $4,195,000 for community policing that includes ten police officers, two sergeants, two public safety aides, a crime analyst and a part-time lieutenant providing community policing exclusively within the Agency seven days a week. • $5,095,000 for maintenance of Agency capital projects constructed with TIF funds (Lincoln Road, Beachwalk Project, and Collins Park facilities). • $1,831,000 as the Children's Trust Remittance. The Agency's budget includes a contingency reserve of$384,000. The Agency's FY 2012-13 expenditures created an initial unaudited fund balance deficit of $341,237. Therefore, it is accounted for in FY 2013-14 ($342,000). The Agency is in the process of auditing the current fiscal year and believes there will be no deficit. r' ' i '- 1 Edward Manque7,i i Deputy Mayor Attachments Mayor03514 3 . i a' j MEMORANDUM !' (Revised) TO: Honorable Chairwoman Rebeca Sosa DATE: June 3, 2014 and Members,Board of County Commissioners FROM: R.A. Cu as,Jr. SUBJECT: Agenda Item No. g(G)(1) County Attorney Please note any items checked. "3-Day Rule"for committees applicable if raised 6 weeks required between first reading and public hearing 4 weeks notification to municipal officials required prior to public hearing Decreases revenues or increases expenditures without balancing budget Budget required • Statement of fiscal impact required Ordinance creating a new board requires detailed County Mayor's report for public hearing No committee review Applicable legislation requires more than a majority vote(i.e.,2/3's , 3/5's ,unanimous )to approve Current information regarding funding source,index code and available balance,and available capacity(if debt is contemplated)required 4 Approved Mayor Agenda Item No. g(G)(3) Veto 6-3-14 Override RESOLUTION NO. R-512-14 RESOLUTION APPROVING MIAMI BEACH CITY CENTER COMMUNITY REDEVELOPMENT AGENCY FISCAL YEAR 2013-14 BUDGET WHEREAS, the Interlocal Cooperation Agreement between Miami-Dade County, Florida (the "County"), City of Miami Beach (the "City"), and the City Center Community Redevelopment Agency(the"Agency"),approved on March 30, 1993,requires that the City and Agency transmit its adopted annual budget to the Board of County Commissioners of Miami- Dade County,Florida(the`Board")for approval;and WHEREAS,the Agency and its counsel have determined that all expenditures associated with the attached budget are allowable under the Redevelopment Plan, Interlocal Agreement and Florida State Statute;and WHEREAS, this Board desires to approve the Agency's adopted annual budget for Fiscal Year 2013-14,for the City Center Community Redevelopment Area(the`Budget"),in the form attached hereto as Exhibit 1,and incorporated herein by reference; and WHEREAS,this Board desires to accomplish the purpose outlined in the accompanying memorandum, a copy of which is incorporated herein by this reference, NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF MIAMI-DADE COUNTY, FLORIDA, that the Board approves the Agency's annual adopted budget for fiscal year 2013-14, related to the City Center Community Redevelopment Area. 5 Agenda Item No. 8(G)(1) Page No. 2 resolution was offered by Commissioner L.. :Bell The foregoing r y who moved its adoption. The motion was seconded by Commissioner ,Tole "Pepe" D and upon being put to a vote,the vote was as follows: Rebeca Sosa, Chairwoman aye Lynda Bell,Vice Chair aye Bruno A. Barreiro absent Esteban L. Bovo, Jr. aye Jose "Pepe" Diaz aye Audrey M. Edmonson aye Sally A. Heyman aye Barbara J. Jordan aye Jean Monestime aye Dennis C. Moss absent Sen. Javier D. Souto aye Xavier L. Suarez aye Juan C. Zapata absent The Chairperson thereupon declared the resolution duly passed and adopted this 3rd day of June, 2014. This resolution shall become effective ten (10) days after the date of its adoption unless vetoed by the Mayor, and if vetoed, shall become effective only upon an override by this Board. MIAMI-DADE COUNTY,FLORIDA BY ITS BOARD OF COUNTY COMMISSIONERS L®141 MIS 414 o- 4 �' HARVEY RUVIN, CLERK COUNTY Z .%—•—P � C 'Christ pherAgrippa *� By: Deputy Clerk Approved by County Attorney as , ! to form and legal sufficiency. C S David Stephen Hope 6 '4• ,� City of Miami Beach,1700.Convention Center Drive;Miami Beach,Florida 33139,wvw►r.miamibeachil.gav Miami Beach Redevelopment Agency Tel:'(305)673-7577,Fax:(305)67.3-7063 November 6, 2013. Mr Jorge M. Fernandez Program Coordinator Office of Management& Budget 111. NVV I Street, 22nd Floor • Miami, FL 3312$ RE: City Center Redevelopment Area -FY 2013114 Budget Submittal • Dear Mr. Fernandez: Enclosed is the Miami Beach Redevelopment Agency's Resolution packages adopting the FY 2013/14 Operating and Capital Budgets in the County's preferred format. together with our status report. The Budget was adopted by the RDA Board on September 30, 2013. It should be noted that the most current year-end Financial Statements, dated September 30, 2012, have already been forwarded to the.County and are also available on line. The Financial Statements for 2013 will be available as of March 30,2014. Please:advise as to the County schedule for reviewing and approving the enclosed Budget In the meantime, should you have any questions, please do not hesitate to contact me. Sincerely, . Kathie Brooks Assistant Director KGBMAS;GPH Enclosures • C: Jimmy Morales, Executive Director Max Sklar,Redevelopment Coordinator John Woodruff,°BPI Director Georgette Daniels,Senior M&B Analyst F 1INFUI$ALLIRDAIRDA Budget2201.3-141FY 13_14 Budget Transmittal Request Countydoc We ate committed to providing excellent public sere arid-safely to ail who live.►ok and play in our vibrant,tropical,historic catwalk,. 7 . I • . . MIAMI BEACH REDEVELOPMENT AGENCY f . . FY 2013114 PROPOSED BUDGET • {AS ADOPTED ON SEPTEMBER 30, 2013) . . CITY CENTER REDEVELOPMENT AREA • . 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''.,--' -7 '..7-1 - - • - •- . - -- ' - . . !,1 r, • .7.- :. --,_- --• • Submitted By:- The Miami Beach Redevelopment Agency 1700 Convention Center Drive Miami Beach, Fl 33139 8 Miami Beach Redevelopment Agency Adopted.Annual Budget for City Center FY 2013/14 Content SECTION Budget Narrative 1 And Annual Project Area Status Report FY 2013/14 Operating Budget as adopted by the RDA Board on 09/30113(County Format) 2 FY 2013/14 Operating Budget as adopted by the RDA Board on 09/30/13 (RDA.Format) 3 Capital Project Summary and Five-Year Plan. 4 Capital Maintenance Summary 5 Community Policing Budget 6 Organizational Chart 7 Adopted FY 2013/14 RDA Operating Budget Resolution Packages 8 FY 20.13/14 Operating Budget as adopted on 09/30/13 - FY 20.13/14 Capital Budget adopted on 09/30/13 Adopted:FY 201.2/13 RDA Operating Budget Amendment Package - .Adopted on 7/17/13 9 Financial Report- Fiscal Year ended September 30,2012,. .prepared by RSIVI McGladrey: 9 MIAMI BEACH REVELOPMENT AGENCY CITY CENTER REDEVELOPMENT AREA FY 2013/14 OPERATING BUDGET AND STATUS REPORT • Mission/Purpose Statement • To assure continued economic viability of the City Center Redevelopment Area and the City as a whole, through the implementation of the objectives and projects defined in the Redevelopment Plan and the amendment.thereto. • To incur minimum relocation and condemnation. • To involve community residents in the redevelopment process. • To establish° the necessary linkages to tie in the Convention Center, area hotels, cultural'amenities,entertainment,residential and business uses in the district; • To enhance diversity of form and activity through the use of established planning and design principles. • To create:a traffic system to serve local and through traffic.needs. • To recognize the historic structures and designations within the historic districts and facilitate development accordingly. Status Repoli The 332-acre City Center/Historic Convention Village Redevelopment and Revitalization. Area (CCIHCVRRA or City Center) was established in 1993, _ - in order to provide the funding mechanism to foster the development of new convention hotel development within -- proximity of the Miami Beach Convention Center and to 1 establish the necessary linkages between the City's many _ � core area civic, cultural and entertainment uses in order to create the fabric of a true urban downtown. •t Since its inception, the City Center Redevelopment Area has . , undergone dynamic change through a combination of public and private,investment initiatives: Exciting p projects which have transformed the area include; • Two convention-quality hotels, both of which were the result of public/private partnerships between the Redevelopment Agency (RDA) and the respective Developers-the 800-room.Loews.Miami Beach Hotel and the 425-room Royal Palm 10 Crowne Plaza Hotel,the latter of which had the distinction of being the first African- American owned hotel in the United States; • The development of an 800-space public p g ara e (Anchor Garage) to accommodate the parking needs for the Loews.Miami Beach. Hotel, the Crowne Plaza(Hotel and other service and retail businesses in the area,. • A $20 million overhaul of Lincoln Road, partially funded with the participation of businesses on Lincoln Road; • An award-winning Beachwalk extending from 21st Street to Lummus Park, .comprising an at-grade, landscaped pedestrian walkway; . • implementation of a Cultural Arts Campus Master Plan for the area east of the Miami Beach Convention Center, which includes a new regional library, the i headquarters of the Miami City Ballet,the expansion and _ renovation of .the Bass Museum of Art, the re- s4 z. landscaping of Collins Park, including the restoration of `', � = the Rotunda and extensive streetscape improvements throughout the area f ` a ; • The completion of the much heralded New World Campus, including the new state- of-the a s< art Gehry-designed headquarters ' t r ; facility for the. New World Symphony and two publicly-funded components, including a $15 Million municipal Gehry-designed parking garage and a $21 Million world- • class park, t‘ f ' = _ - 11 Other important projects include the 650- • space mixed-use parking facility built on the ; surface parking lot on the west side-of City Hall, which includes 33;OOD square feet of ."' ' ' :; T municipal office space; the implementation of major street and infrastructure E - _ improver tents throughout City Center, F valued at more than $26 Million; and the. _ L acquisition and renovation of three multi- - _ family buildings (Barclay, Alien House, The London House) to maintain the stock of .. -.: affordable housing in the area.. Tax Increment Financing (1119 through the .sale-of bonds has been a major tool for financing redevelopment activities. To date, four bond. issues have occurred' in City Center one in 1994 for $25 million, to acquire land for the hotel development Initiatives; one in.1996, in the amount of $43;2 mullion to fund contractual obligations and capital improvements related to the Loews-Hotel and ; Crowne Plaza Hotel projects; one in 1998, in the 'T amount of $38.2 million to finance capital expenditures --'? related to the convention hotel projects, the Cultural = L r - Campus project and to repay the $21.5 million debt - i_ obligation to the City; and the most recent, which ?_� occurred in 2005, in the amount of $80.7 million to refinance the outstanding debt service on prior bond issues. The City and Redevelopment Agency's commitment to upgrading and improving the area's infrastructure, _• _ addressing parking and circulation issues, and facilitating . new development has fueled significant new private- . . -7s sector investment in the area, evidenced by more than $600 'Million in new building permit activity since the area's inception. Work Plan Since its success in attracting two convention-quality hotels, the Redevelopment.Agency • has been focusing its efforts on a number of initiatives aimed at upgrading the area's infrastructure; streets and parks, alleviating traffic and parking congestion and encouraging the production and presentation of arts and cultural activities in the area. In 2003, the Redevelopment Agency amended its.Redevelopment Plan for City Center to specifically address these objectives in the context of the New World Symphony's expansion plans involving the 17"' Street surface lots and the resulting impact to the Convention Center and businesses in the area. To this end, the Redevelopment Agency's mission is to coordinate, implement and fund the Plan's objectives and to compliment the City's established vision:. • Cleaner and safer; 3 12 . • e Beautiful and vibrant; • Mature,stable residential community with well improved infrastructure e Cultural, entertainment and tourism capital; and International center for innovation culture and business;while • Maximizing Value to our community for the tax dollars paid. The Redevelopment Agency's objective over the next five years shall .focus an. the planning and implementation of capital projects. associated with, but not.limited to the Master Plan for the expansion of the Convention Center, upgrading.streetscapes and related infrastructure throughout: City Center and increasing the inventory of parking facilities, including the pending construction of a new 450-space parking garage to be located on 23`d street and.Collins.Avenue, designed ley world-renowned architect Zaha Hadid.. The RDA shall also continue to fund public service enhancements provided for under the Community Policing Program as well as ensure the on-going maintenance of capital assets funded with TIF. It should be noted that that a majority of the capital enhancements set forth in the Redevelopment Plan and the.2002 Amendment thereto, have been completed and/or are currently:underway, including the City Center Right-of �y VV�' improvements, the City Hall Expansion Garage,the.Collins Park Improvements and the development ofthe 17th Street surface lots into the New World Campus. Budget Highlights • • eased on the 2013.Certificate of Taxable Value from the Property Appraiser's Office, the preliminary value of property in City Center is actually projected to increase.by 7.3%over 2012,.marking the third year in a row, values seem to be back on the rise, following two years of decline. However, as in previous years, the City has received correspondence from the County, advising of the finalization of the tax roll for the.prior year, which in the case of FY,2011/12, reflects a slight decrease from the preliminary valuation for the same year and will result in a corresponding adjustment/reduction in TIF revenues totaling $168,000 for 2013/14 vs $3.5 million for 2012/13. o Additional sources of revenue include an estimated $5.4 Million In. Resort Tax contributions; a Y2 mill levy in the amount of $1.8 Million, to be set aside for the Children's Trust pursuant to an Interlocal Agreement dated August 16, 2004 between the RDA, the City of Miami Beach and Miami-Dade County; and an estimated$25,000 in interest income. • Project-related expenses account for approximately$28 Million which includes $4.2 Million to be allocated for community policing initiatives in City Center to continue to provide enhanced levels of staffing and services throughout the area and $5 Million for maintenance of RDA capital projects: On-going and planned capital projects in City Center are projected to account for$18.4 Million in the FY 2013/14 Budget, and generally include allocations for construction of the Collins Park Garage, City/Convention Center Right-of-Way Storm Water Improvements, Lincoln Road Master Plan and improvements to Euclid Avenue. An additional $57,000 is being proposed for capital renewal and replacement projects; including repairs and 4 13 maintenance to the Colony Theater. Additionally, $305,000, in transfers to the Pennsylvania Avenue Shops and Garage are budgeted to offset the City's costs associated with the retail and parking operations. 6 Administrative Expenses total $1.9 Million, comprising a management fee of $1,198,000 which is allocated to the General Fund to pay for direct and indirect staff support for the RDA; approximately $650,000 set aside for on-going planning and consulting work related to the Convention Center expansion master plan; and $25,000 for capital renewal and replacement projects under $25,000. It should be noted that the Management Fee allocation is reflective of actual city resources applied to the operation of the RDA, as supported by the RSM McGladrey Cost • Allocation Study, dated July 20, 2009. It should further be noted that Administrative and Operating expenses only account for less than three percent (3%) of the total budget, which is well below the 20%threshold level established (and permitted) in the Interlocal Agreement between the City and the County. O The current combined debt service on the 2005 Series Bonds and the Parity Bonds • accounts for approximately $8.55 Million ($8:4) Million annually. City Center also continues assuming debt service payments on the portion of the Gulf Breeze Loan used to pay for the Bass Museum expansion and renovation, arid the portion of the Sunshine State Loan Program used for Lincoln Road improvements, which collectively account for approximately$1..3 Million. ® Reserve line item expenditures include those items that, pursuant to the existing Bond Covenants, may only be expended once the annual debt service obligations have been met. 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C► % N in w.Q t0 N �'d V y.G v g CO M 'p�'Q C G hillititit 1 l E. m ., m .. .it- `� .: ;' ��q � ,'b c �. }moo �_2 I2.—E.Si q� E c '5Q m t� �i Q c E.E. pI m m. .,. m+ a ei .p.� iliz m oa r2 a� t b sell ..r 8418 t"kft �i e.a e > ��_ �'8 >� � �aaaa.-.. 4 _ cw c Q 5 m8�iiuia o A.4 o 'er t�.A V5 alt g to w.�,Q a -x70'. SE`l--O h. ' +, +� v —5�'v�em E ''� t,�tu� V �¢o�'.�.� E w�$ EE..Eo$g' ii,. 2ow'''''' ''''t a: `0 rn ;a h aq�01 ?. U:ma.� m.ta o F-' �'O�I�ii�t� o 4 htU tg. E:, $w o" 1ma pQ:'er�°� r ►n haovla:- g p p li q,a z E S t v,T g pl i 3 t E z a 1° 1D t0 o d st+ryk. a is ik a>.sc. [v o f c tl ��gg pp 1oY�i 61 pp�1 ttqq �( u E c g I?8 1 Q,_.- 5 0 t�+Z Z'h 8 U 0 �N a b 1 B i�i 't b 2; a� ®6r m m tom®tu.Qo a aa' oQ.c6 n mc>& rc4 PTEI $o bwzo$.515t oo. 23 ,,,,.-...6 a ds0 u �.C�w ama a d1- Z:22m2ZZZZ2Z' . 15 i 1 • Miami Beach:RedevelopmentAgency • City Center Redevelopment Area Proposed FY 241:311:4 Operating Budget 1 r •i FY 13114 Budgeted FY 101.11. FY11112 FY 2012113 Proposed Variance • • Ac_tual Actual Adopted. Budget From FY 12113 Revenues and Other Sources of income Tax Increment-CIEy 18;377,816 $: 18;337,693 $ 19,1 88A00 $ 18,934,000 746,000 •Proj Adjustment to qty Increment (1,475,726). (1,756;457) (.1,871,000) (94,000) 1,777,000 Tax Increment-County 16;047,879 14,291,236 14,818,000. 15;992,000 1,174,000 Proj Adjustment to County Increment (1,262,384). (1,367,157) (1,636,000) (74,000) 1;562,000 50°/s Contribution from Resort Tax 4;492,076 4;925,168 4;684,000 5,386,000 702,000 11/2 Mill Chfldreri!s Trust Contribution 1,474,830 1,481,004 1,576,000: 1,831.,000 256,000 Interest Income 9,291 8,27$ 13,000 25,000 12,000: Fund Balance Reallocation:(Non-TIF) - - - Fund Balance Renewal and Replacement - - - Other Income/Adjustments: - 5;106 . - TOTAL REVENUES $ 37,663,781 $. 35,924,961 $ 36,771,0007 $ 43,000,000 $ • .6,229,000 AdminlOperating.Expenses Management fee(Salaries&.benefits) $ 941,524 $ 952;889 5 976,000. 5: 1,043,000 $ 67,000: Salaries arid Benefits 559;601 $65,000 155,000 90,000 Advertising&promotion 50,000 50,000. Postage,printing&mailing. 61. 3,000: 3,000. Office•supplies&equipment 2,548 2,269: 4,000 4,000 - . Other Operating 1,000 1;000. Meetings&conferences 12 - 1,000 1,000 Dtles.8,sUbsariptions: 788 795 2,000 2,000 -: Licences&Taxes - - Audit fees. 20;260 20,260 9,000 21,000 12,000. Professional&related fees 56,031 175,373 241,000 629,000 388,000. Repairs and Maintenance - 31,489. 98,000 25,000 (73,004 Miscellaneous expenses 5,000 33,938 47,000 27,000.. (20,000) Total Admin/Operating ExAenses .$ 1,026,244 $ 1,276,614 $ '1,446,000 5 1,9.61,000 $ 515,000 "reject Expenses )ommunity Policing 168-.1124 $ 2,754;374 $ 3,411,726 $: 3;T41,000 $ 4,19.5,000 5 454,000 Capital Projects Maintenance: - $ - Property Mort:168-9904 990,358 1;013,473 $1,143,000 1,176,000 33,000 Sanitation:16f3-9965 2,092,196 2,560;488 $2,593,000 3,020,000 427,000 -Greeh4race168-9.966 608,242' $763,000 832,000. 69,000 NWS Project/Lincoln Park Complex.Contingency - - - NWS Project-Grant-In-Aid 15,000,000 - - - Transfer to Penn Garage Parking 76;622 48,801 .405,0.00 305;000 (100,000) Transferto Penn Garage Retail 26,446 347,112 . - • - Transfer to Renewal and Replacement. - - 705,000 $67;000 (638,000): Transfer to Capital Projects 136;758 13,541,301 14,236,000 . 18;443,000 4,205;000 Total Project Expenses $ 21,075,706 $ 21,429,123 5: 23;588,000 $ 28,038,000 $ 4,450;000 Reserve and Debt Service Obligations Debt Service Cost-2005+Parity Bonds .5 8,393,254 $ 8,548,105. 5 8,415;000 $ 8,550;000' -5 135;000 Current Debt Service.-Uncoln Rd Project 1,094,178 1,103,366 $785,000 • 825;000 40,000 Current Debt.Service-Bass Museum 505;659 502,746 503,000 547;000 44,000 Reserve for County Admin Fee 221,782 193,8.81 1.98;000 239,000 41.,000 ReserVe.for OMB Contribution 253;531. .248,719 261,000 283;000. 22,000 Reserve for Children's Trust Contnbution 1,47.4;830 1,481,004 1,575,000 1,831,000 256,000 Reserve for.Collins Park Parking Garage - 1,451;823 - - - Repayment-Prior Yr Fund Balance 2;946,246 - - 342,000 342,000 Reserve for Future Projects 384;000 384,000 Tote!Reserve and Debt Service $ 14,889,679 $ 13,529,624 S. 11,737,000 $ 13,001,000 $ 1,264;000 TOTAL EXPENSES AND OBLIGATIONS ..$:... 36,991,628 $ 36,235,361 $ 36,771,000 $ 43,000,000 $. 0,229,000 REVENUES-EXPENSES 5 672,153 $ (310,400). $. $ .5. - 16 • i 1 • Proposed FY 2013/14 Anchor Shops and Parking Garage .Operating.Budget FY 13114 FY 10111: FY11/12 FY 2012113 Proposed- Variance • • :Revenues: Actual -Actual • Adopted Budget Parking Operations $ 2;368,000 $ 3,079;821 :$ 3,049,000 $ 3,130,000 $ X81,000 ( ;Retail Leasing 714,150 615;016 3708,000 847,000 139;000 • Interest Pooled Cash 39,216 13,897 $26,000 18,000 (8.000) TOTAL_R1`VENUES $ 3,121,366 $ 3,708,734 3 3,7$3,00.0 3 3,995,000, .$ :212,00Q • Operating Expenses: Parking-Operations $ 1,652;841 $ 1,264,675 $ 2,025;000 3. 2;078,000 $ :53;000 Garage Use-Fee(To.Loewe. 471,918 440,241 .463,000 507,00D. 44,000 Oarage.Repairs and Maintenance - 37,900 37,000 Retail.Leasing,Property Management fee 76,917 62;619 62,000 (52,000) • Retail Leasing Repair&Maintenance .32;000: 32,00.0 Retail Internal Service Charges 96,274 66,109 35,000 19,000 • (16 000) Retail.Operations Depreciation 55,396 55,308= 55,000 55,000 - Management Fee to General Fund 189,074 196,740 223;000 224,000 1,000 3 00 224 0 1 000 Parking Operations Manageemenl Fee 189,074 196,740 22 , .0 ,00 j • Retail Leasing Management Fee to•OF r.. - 9.4,000 • 10,000 (4,000) • Transfer to Renewal and Replacement 182,000 220,000 38;000 Transfer to Capital.Projects - Reserve for Future Capital-Perking:Operations - 223,962 358,000 72,000 -(286,000) Reserve for•Future Capitol-Retail Operations - 376,000 74:1,000 365,000 TOTAL EXPENSES 3 2,542;420 $ 2,309,942 $: , 3,783,000 $ 3,995;000 5 212,000 REVENUES:EXPENSES $ 578;946. $ 1,398,792 $ • $ • $ • • Proposed FY 2013114 Pennsylvania Ave Shops.and Garage Operating Budget FY 13/14 FY 10111 FY11/12 FY 2012/13 Proposed Variance Revenues; Actual Actual Adopted Budget Parking Operations $ • 478,583 $ • • . 018,981 $. - . .520,000 $ • 056,000 $ 136;000 Retail Leasing a 147,123 574,000 550;000 (24,000) • Retail Transfer from RDA Operations 347,112 - - - Parking Transfer:frpm RDA Operation, 102,070. 346,000 405,000 305,000 (100,000) interest Pooled Cash . - .492 .. - -.- tOTAL REVENUES $ 580;653 $ 1,459,688 1 1,499;000 $ 1,511,000- $ 12,000 1. Operating Expenses: Parking Operations Expenditures $ 300,727 $ 723,029 $ 802;000 $ 822000 $ 20,000 • Parking AdminlBase Fee 73,768 45,368 53;000 55,000. 2,000 i Garage Ground Lease 23,552 23,552 23;000 23;000 - Parking Base Rent, 23,552 23,552 •$23;000 23;000 , • Addt9/Percenlage Rent - $0 Garage Management Fee. - $47,604 347;000 61,000: 14,000 • Retail Additional.Base.Rent_ $15,592 $278,000 229;000 (49,000). Retail base Rent $276,448 51,000 136,000- 85,000- Retell Admln Fee: - 11,137 - - Depreciation 511;851 - - - • Leasing Commissions - 303,400 - . • Admit-)Fee(GF). - .3,864 $53,000 51;000 (2,000) • Contingency _ - - $192,000. 134,000 .(58,00- TOTAL EXPENSES $ 398,047 $ • 1,461,845 $ 1;499.000 .5 , 1,511.000..$ 12,000. REVENUES?EXPENSES. $ 182,606: -$ (2,157) $ - $ - $ - • i • I i 17 • • • EA i i • • g i 1 t I i 1 e a pt •cInr OF MIAMI BEACH REDEVELOPMENT AGENCY 2014-2018 CAPITAL PLAN•FUNDING SUMMARY FUNDING PROJECT NAME PriorY.310 2013M4 .204N5 201010 2016117 2017115 t Tura Taint 1. 368 City Ceniar RPA Cap1tal Fund t+s10lops loin fit Operational IrsprovWEnit®+0cment 932,000 0 :0 0 0 It 0 032000 ■g07.atorr 17th Sage!,Caraae Sect faepde Rela3 0 0. 0 '0 0 •0 2,590,000 2604040 1 tiastlthatn 17th S,eet North ii>2piv Pe,n Av R,WasI1 0 0 Q 0 0. 0 +1,000.000 2.000,000 tim2latm 21st St Reaeolten Ctnto Repairs end R 110,259 0 .0 0 :0 0. 0 118,269 pkstInroal 40D Block LMtetn Rd S4e.ImWor Warp •0 0 0 0 0 0 50.000 59,060 n ediiii rey Alleyway Rastoialion Pmgcmm PA I 000000 0• '0 0 0' 0 0 600,000 ' • pwcmitrprp Numt*um sacgo:0 ng Pale Repboemenl 200.000: 0 0 0 0 .0 0 200000 9 9. eecanhualw Mima1 Wasta.0isperiscrilRooepgadca 25.000 0 0 0 •.0 .0. 0 26900 riinbaosebb `Bess Museum Electrical breaker Dix Reps 30.968 0 .0 0 0 0. 0 38'1 fl .rninbaisavitt 0ass:tdoieiim l erior 112Dtr9 Replocertwn. 42,306 0 0 0 0 0. 0 42,308 II mnbasemot BneeMuseum'Generator Reptemement 51,770 0 0 0 0 0 0 51,770 • mnbasebpr Bait 6tiseirm feat PompR9placoe rent. 69.225 0 0 0 0• 0 • 0 69.225 II mnbasahvc 9050 Museum HVAC Reptaoemerd. 84,466 0 0 0 O P 0 4,456 II not base her Boss Museum Hydnwilc EIsa tsrReplu erne 68,127 0 a 0 0 0 0 55,127 l mnbassrtllr Da0G.Museum Iniulatieo Replacement 27,011 0 '0 D 0 1 0. 0 27,001 ptebss>spts2 Dist Nueeurn Interior Opet:eEimaiedon 0 3,760,000 3,700.0"0 0 0 0 0 7,50060 0 --nobilastet Oast 6luseum Light Controls and lnstrumen •67,070 0 9 0 0 D 0 07.070 ;: : u_basswep bass:Museum Weather beat 8 Paint=RBR 27,470 0 0, 9 0 0 0 27,470 .rttbcarhrb Reach.Shar4erR$plppsment&.Renov10om 5.750 0 0 0 -0' 0 0 0.750 ii • trnebebwlrl :bead walk Lighting Retn96 665;625. 0 9 0. •d b. 0 :689,026 I pgchlkeprk .01cye)eParldno:Phase) 33,750 0 •0 0 0. 0 0 33160 plt2blepph2 Bicycle Parkino Phase it 6,000. 0 0 0 0 0' 0 .0.000 i itaarlect Cw flsher'Gubhuusa6dedorW'ndoe 63,720 .0 0 0 0 0 0 53.120 facie tids Cad FI Cid Fedex Clubhouse ReplactGOtter-RER 25.705 0 .0 ' 0 .0 0 0 25,795 j .retetchtR Cad Figher CtubI 3a Reaf Replaunl.RBR 105,600 0: 0. 0 0. 0- 0 14600 I !NIT eltltctr CCHY Neloti.Imptov.4 5todc Dia RPM 17,420,379• (2231,000) 0- 0 0 '0 0 16,109,370 t ' ivisettylle C2j Centoi.9A tvgei Fira 0 350,000- 0 0 b 0 0 350,000. 1 rwsct:hvb0b CityCcrdot-Cantnardllpisloppo 13.209,842 320.000 0. 0 " 0• 0 0 13,535.842 rwectgwrcr Crly W Cud,Ramp InitafstisaSlaw 1,500 0 o n 0: 0 0. 1.600 brywaylintl Clyyddo Way5ndln9 Sligane.Syatem 43Yb40 0' 0. 0 0• 0' 0 •431.$40 ; oitccaQrep: Calhris Canal Erpianceolerd,Prole:A 000,000 0 '0 0 0 0 0 8:000.000 nweoUpar .Collins Park Ancillary 1rriprovw noonta 4.000.000 D 0 0 •0 0' 0 4,000,000 I pgaaxdcamp Cans Park Parking Oarege 13,476,271 12,242,000 0 0 0 0 0 26 121,271 f ieaceforuc Catony Theater Condenser Cols Rep oe 0 40,000 0 0 0 :D: 0 x0:0.00 trscotarmi• Colony lheater Root Mo'ntsnant 0 27,00D 0 0 .0 0 0 27.0-9 r• pfsctllOt Lbtoiv'The-Ater otage.Li(tfdii b Retto fit 05,030 0. .0- 0 '0 0 0 65t000 ' I iwmeonvclr Com'entin Center Lincoln Rd Ceneactors 0 0 p 0 0 0 10.000.000 10,000.000 tweetossera Crosswalks. 21:000 0 0 0 0 0 0 - 2.1;000 p0m6401r Cu!turat Campus Paikhp Garage U 0 0 0 0 0- 0 12.100000 12.400.000 tmtdlrtiign Oirecloiy Signs ln:tltg CUy•Centet.lt0W .198,258 :0 0 0 0 0 0 108,265 ttxxfiambpc HtmiOgo h'CiQltborh0o3...BId pack C 752.000 0. 0 0 0 -0 0 752.900 I ucgardenc Garden Center U9hting'F04utes end We 73.725 D 0 0 Q 0 0 73,775 1401111 to .ineen11d Between Codes a natation 2.516,1193 0 .0 0 0 0• 0 2.510.68:► • I I I I t i .• 1 I ykp • C l L • i 18 . 1 u • • i t • 1 • 1 pw&tnvlan LlnEoin Rd LandreapinteLeri5t WW WISh. 160.000 - P 0: 0 0 0 0 190,000 1 rnllicmfp l.incafn Rd.MA Pry,Landicap 62,315 0 0 0 0. 0 0 62.316 5 •Plratlnrdlt P1011 110.0 Londscapa a Fi 13 150,000 0 0 0 0 0 a . 150.000 1 pks@udla Unebtn Rrisd Mall.A>]A PedesUian Palk ray &'1.5.00 0 ,0 0. 0 0 tJ 07,600 1 rwettncmrp timotn Road M 1erPtan SuIdy 0 600.000 0. 0 D .0 .0 800000. `c rw:ltnwmii Li ncothB0adWashtngionAYI0 Lenox Ave• 0 0 10,002000 10,600.000 - -0: 0 0 20200,000 € p 1 moalpuar 'Rta:e.Project 21St&CatOt Art.t(M 13.000 . '0 0 0 1i •0 0. 135.000 E tridentb0mIr 16arN City6Ie1 EnivilatitRep1-R&R 62:863 0 0 .0 0 0 0 52563 w ttmrteberccr 'Miami City PanttaxlCnodeRest-RgR 50,075. 0 - 0 0 0 0 0 50,1135 . trmntcbtase Miarnitilty Billet 1Ve M an Sys 41&R 285.260 .0 0 0 0 0 0 265260 1 rralreabwdra Miami CayWaRe1 WindowReliecanit/GRBR 85.491 0 0 0 0 0 0 00,491. iwrpedacoal Podestii*Carsrtdow $ignalt Pb 1 58.000 0 0 0 0 0 0 56,000 pkmavesebra Peruo 4van+a.(Meww«tuiyo-00114carat. 117,06.9.1,.26 0 0 -0. 0 0 0 11.04533.5 • d pstoparget Protcrredl-ol Pa:kin2•0arage 0 0 0 0 P 0 10,000,000 70.000.000 g peu1ic4pr •Reseve-tucidAve trap01LtocakIRd 410.020 69;000 0 0 0 0 0 406,020 BOB bntaneo Sea e,all-BOOa,nical GaidtC l0ns Canal Got 1,20002 0 0 .0 0 0 0 1,208,502 anetraabip Traah Reaeplades .25,000 0 .0 0 0 9 0 25,000 I li rwbweettow• West AveaWeIBay Road knpraasmerds .700,000 0 .0 0 0 Cl . 0 . 100,000 r, 'Sum: -70,025,060 15.073,009 13:710,000 10,.-040000 :0 0. 96,950,060 214,610,050 403• RDA-AnahorGarbs*Fund q inisricaiip Ambit NC RePla !i eid'RSR 66.020 0 0 0 .0 0 0 08.020 2 rreenchck Anti ho.'Garage BaiiatorReplgMt.R&R 357.,995 0 0 .0 •0 0 0 357,905 ti araenohtep MOOiorGaraaeReppalr and Upkepi. • 0 vo,OOO 0 0 0 0 0 21QOOD F 1 mggcoth Anchor Garage Pod:Reptemnt.ROR .95645 0 0 0 0' 0 0 05,646 irsiichsen. Anchor(barage S1wcbnal Eno St idy 0 25,000 :0' 0 0 0 0 25.000 .anchors Andhar-Shois FOB Syblvn Replaceme14 75,010 0 0' 0 .o 0 0 70645 p a r::I:W e a r Closed c 'Tekrriston sue, 172;900 0 0 0 4 D 0 172;900 pg011y1oat PO on t=oct[I'1#t eilar sea 256.000 0 0 0 0 4 0 �: `• •egCr'eYcep2. RBYanrsConk&EgpMonti, 4 .24 0,000 0 0 0 0 0 240 i • Sum: 1,005.405 404,000 0 0 .0 0 0 1.007 406 .407 t°urtd46TPawn0ardge • E i 00bcctvuar 'Closed Oita&TelevaJon Syalcm 20,000 0 0 0 0 0 0 70000 egctevoapt 'Revarau Co0ot Eqp Phase 1 69.000' 0' '0 0 '0. 0 0 69,000 • Sum: 89,000 0 0 0 0 :0 4 0 55,E • l I 6 I . is I • I I ._ — i 1 I. ii . rel I r I f • { . tf $ . t 1 . 19 gly0FmIAMIAg4[Fi AttechrnentA REDEVELOPMENT AcitNGY 2014.0kPiri.g.BUDpET-FUNDIJIG 51.11AIVIARY 365 City Ceoter!IDA Cepltal Fund Capital Projects pgrnou tica top :Collins tisrli-Parking Gar age 12,242,094- pkchassph2 Bass Museum Interior Space Expansion 3,750,01:101 pwssudtnpr Reserve-Euclid Ave Imp at linEoinAd 69,00 :rwscchvb9b City Center•Commercial Dist BP98 326,0014' liw.slinemp Lincoln Road Master:Plan Study .500;000 iylife City Center BA_Legal Fees :350;004: 17,237,(1.06: . . i-ron.sfers 40 CAPICO Bars Museum Previous Capital Short Fall 5,046.285 'RP4 Capital Fund:Balance Shortfall 2.;3$4,128 Lass City eouter 9A credit to fund balancefor closed outprojectS (2;21,000) -- Transfert to-Oipital Projects 18,443,000 .• • • • '• . . • 1. • . •-•"- • • • • • • • • .• .• • 20 • • • • • ti 0 0 d 0" 0 0 0 o 0 0 0 o 0 o o O: 0 0 0 0 O O 0 O Co Q. 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D.- Z 1-4 1 0 0 , 0 0 r 0 0 ta c u a) 1 1 124 rITLI "'‹ V 4tt c i g : 1 fa o. !go ct co 1 il 13 i 11 1.,, . ; c— .0 0 k !I o t' "E Za V I w i m al ir3 IhrO "" 'I '0 i Ess7esinionuna • E i 1 .0., E.‘" , XI .44 c= u xffi m . i i 11 I 5, e4 u— . 1 • 13 C4 Ce rxi 0 p4 Pa x . , ... 1 it) rn U FA Z ;T.3 - to 34 g•.1.3 . •al ° ii:m surn I P Q 0 IL .. .....:_. , , Co) $. x....LI ,......... f a . .... , E it g . . i W E ea t. ..s X H 1 ,.. o • a) 151 z•-• e.. — . ' 0 =a 3 k 1 •MEM E = 6.-9 A101 -13-§ li v< a c > = -43 e, o 7g. P2. EN • • li .... 4 1 i N 5.: . `--1 Ps 28 . Et: ESi RESOLUTION NO, 598-2013 A RESOLUTION OF THE CHAIRPERSON AND MEMBERS OF _t THE MIAMI BEACH REDEVELOPMENT AGENCY ADOPTING AND APPROPRIATING THE OPERATING BUDGET FOR:THE CITY CENTER REDEVELOPMENT AREA 7 THE ANCHOR-SHOPS. AND PARKING GARAGE AND THE PENNSYLVANIA AVENUE. SHOPS AND-PARKING GARAGE FOR FISCAL YEAR:20.13114 WHEREAS,the proposed City Center Redevelopment Area Budget has been prepared to coincide:with the overall'City budget process;and . lilHEREAS,the proposed City Center Redevelopment Area Budget reflects anticipated construction project costs in addition to operating and debt service costs for the fiscal year; and WHEREAS, the proposed budgets..for the Anchor Shops and.Parking Garage and the Pennsylvania Avenue Shops and Garage have been included as separate schedules to the City Center RedevelopmentArea Budget,reflecting projected revenues-and operating expenses for the fiscal year;and WHEREAS, the Executive Director recommends approval.of the proposed Fiscal Year 2013114 budgets for the City Center Redevelopment Area; as well as for the Anchor Shops and Parking Garage and the Pennsylvania:Avenue Shops and Garage;and NOW,THEREFORE,BE IT DULY RESOLVED.BY THE CHAIRPERSON AND MEI.BERS OF THE WAND BEACH REDEVELOPMENT AGENCY;that the Chairperson and Members hereby adopt and appropriates the operating budget for the City Center Redevelopment Area,the Anchor Shops and Parking Garage and the Pennsylvania.Avenue Shops and Garage for Fiscal Year 2013/14, as follows: City Center Redevelopment Area $43,900,000 Anchor Garage Parking Operations $3,130,000 - Anchor Garage Retail Operations $857,000 Pennsylvania Avenue Garage Parking Operations $961,000 Pennsylvania Avenue Garage Retail Operations $550,000 PASSED AND ADOPTED THIS SEPTEMBER 30 DAY OF 2013. HAIR -SON ATTEST: #`INCORP : '�►'�'CM. g,.%t•Ae APPROVED AS TO FORM&LANGUAGE FOR UTIGN. SECRETARY KR IS: ■F 2T 1 Air edev.— ant Agen y D T:AGENOA1201313eplember38{RDAOUO.GET RESO.2013 14doo.dac r en {Counsel` 29 i MIAMI BEACH REDEVELOPMENT AGENCY ITEM SUMMARY • Condensed Title: . A:Resolution of the Chairperson and Members of the Miami Beach.RedevelopmentAgeitoyadopting:and.approprieting • the operating budgets for the City Center Redevelopment:Area,the Anchor Shops and Parking Garage and the Pennsylvania Avenue'Shopsarid:Garage for Fiscal Year.2013114 _ Key Intended O�utdonie.Supported:._. Improve the City's overall itnandai•health and maintain overact bond:rating i Supporting Data:(Surveys,ErratOrttnental Scan,e'tc,):, One of the City's Key Intended OUtoomes Is to ensure,well designed and well maintained capital projects and infrastructure. In keeping with this goal,approximately 53 percent or$19.5 mftllon of the proposed Budget for City Center is being aliooated.towards capital expenditures_inctuding new capita'projects,renewal and replacement,and maintenance.of existing.RDA capital infrastructure. . Item Sumnr aryiReco mendadon: . _ _ _ .. , Theproposed budgetfor the City Center Redevelopment Area for Fiscal Year 2013114hasbeen prepared to coincide with the overall City budget.process,and is being presented to assist in providing a comprehensive overview of the district Additionally,the revenues and expenses associated with the Operations:of the.Anchor Shops and Parking Garage as well as the:Pennsylvania Avenue•Shops and Garage are presented as:separate schedules so as to • eliminate any perception that proceeds from the Facility's operations are pooled with TIF and other Trust Fund reyeriues.: . Based on the 2013 CerllticaUonof Taxable:Value from the Property Appraiser's Office,the:preliminaryvalueofproperty In Pity Center is projected to increase by 7,4%over.2012: However;as in Previews years;the City NAB received correspondence from the County,advising of the finalization of the tax roll for the prioryear;which In the cased FY 2011112,reflects a slight decrease from the preliminary valuation for the same year and-will result In a corresponding adjustment/reductionin TIF revenues totaling$108;000.:for20.13/14vs$3.5 million for2012t13. Additional sources of revenue Include an estimated$5:4 million In Resort Tax contributions;a'K mill levy in the amount of.$1,8 million,to be set aside for the Chi.ldten's Trust pursuant tO an Interlocat Agreement;dated August 15,2404 between the RDA,the City of Miami Beach and Miami-Dada County;and an estimated$25,000 in interest income.The proposed FY 2013114 City Center Redevelopment Area Budget of:$43,000,000Is$04,000 less than the proposed budget recommended by • the Executive Director on September 11,2011. This decrease is a reaultof.a reduction In the Citywide mileage rate of ;275 by the Mav t and CorttmieSion.at its workshop hold.S91:400100 23,2013. hi order to address the existing and future obligations of the Redevelopment Area,.it Is:recommended:that the • Redevelopment Agency adopt the attached Resolution which establishes the operating budgets for the City Center • Redevelopment Area,the Anchor Shops and Parking Garage and the Pennsylvania Avenue Shops and Garage for FY 2013114. Advisory Board Recommendation; • N.A. Financial Information: .— Source.of Amount .Account Funds: j $43;000;040 City Center:Redevelopment Area Fund �� 2 $ 3,99.5,000 Anchor Shops and Parking Garage Operations li , . 3 $1;511;000 Pennsylvania Avenue Shops and Garage Operations °BPI TOO $48,506,000 i Financial Impact Summary; ` t City Clerk's Office Legislative tracking ( Max Sklar,Georgette.Daniels and John Woodruff . Sign,O fs .. ' RDA Budget Assistant Executive 1 r =-.din, ar Diredtor. Dire •r RDA 3!rector ! 'MAS I ! ' KGB /i JLM j T: TV"•A•4 September 30-V;udget-2013.14 SUM:doc j a n . 1 ri el REM f MIAMIBEACH AGENDA. DATE q":3013 i s vir •a __..._....._,__ _._r__�.�.._..__.__.._......�.,....� _� a ti.. ;•:- ..=-'"sue MIAMIBEACH. City a#Miami beach,1700 Convert Gan Center Drive,Miami Beach,Florida 33139,www.mlamibeachU.gnw REDEVELOPMENT AGENCY MEMORANDUM TO:: • Chairperson and Members of the Miami B ach Reds lopment Agency FROM .Jimmy L.Morales,Executive Director - .r DATE:: September 30,2013 . SUBJECT: A RESOLUTION OF THE.CHAIRPERSO . AND MEMBERS.OF THE MIAMI BEACH REDEVELOPMENT AGENCY,ADOPTING AND APPROPRIATING THE OPERATING BUDGETS FOR THE CITY CENTER REDEVELOPMENT AREA,THE ANCHOR SHOPS AND PARKING GARAGE AND THE PENNSYLVANIA AVENUE SHOPS AND GARAGE FOR FISCAL YEAR 2013/14. ADMINISTRATION RECOMMENDATION Adopt the Resolution. • ANALYSIS. The proposed.budget for the City Center_Redevelopment Area(RDA)for Fiscal Year 2013/14 has been prepared to coincide with the overall City budget process, and is being presented today to assist in providing:a comprehensive.overview of the district. Please refer to Attachment A for the proposed budget details. Revenues Based on the 2013 Certification of Taxable Value from the Property Appraiser's Office, the preliminary value of property in City Center is projected to increase by T.3%over 2012,•markiing the third year in a row values have increased,values seem to be back on the rise,following two years of decline,However,as in previous years,the City has received correspondence from the County advising ofthe finalization of the tax roil for the prior year,which in the ease of FY2011/12,reflects a slight decrease from the preliminary valuation for the same year and will result in a corresponding adjustment/reduction in TIF revenues totaling$158.000 for 2013/14 versus$3.5.million for 2012113, Additional sources of revenue include an estimated$5.4 million in Resort Tax contributions,a mill levy in the amount of$1.8 million;to be set aside for the Children's Trust pursuant to an tnterlocai Agreement,dated August 16,2094 between the RDA,the City of Miami Beach and Miami-Dade County;and an estimated$25,004 in interest income. Expenditures Project-related expenses account for approximately$28 million,which includes$4.2 million to be allocated for community policing initiatives in the City Center to continue providing enhanced levels is of staffing and services throughout the area, and $4.9 million for maintenance of RDA capital rs • September 30,2013 . Redevelopment Agency Memorandum. ()penning Budget for City Center for FV 2013/14 Page tot 3 projects.On-going and planned capital projects In the City Center are projected to accountfor$18 million in the FY 2013/14 Budget, and include allocations for construction of the CoWns.Park Garage,the Bass Museum Interior Expansion and Lincoln Road Master Plan Study. This also includes$1.556 million as.a transfer to cover prior capital fund'balance deficits. An additional$287,000 is being proposed for capital renewal and replacement projects;including repairs and maintenance to certain City-owned projects and facilities;including the Anchor Garage. and Colony Theater.Additionally,$305,000 In transfers to the Pennsylvania Avenue Shops and Garage are budgeted to offset the•RDA's.costs associated with the retail and parking-operations. Administrative Expenses total$2 million,comprising.a management fee of$1,043,000 which is allocated to the General Fund to pay for direct and indirect staff support for the RDA;$61,000 for actual:operating expenses;approximately$629,000:set aside faron-going planning and consulting. work related to the Convention Center expansion master plan;and$25,000 for capital renewal and replacement projects under$25,000. It should be noted that the Management Fee allocation Is reflective of actual city resources applied to the operation of the RDA,as supported by the RSM McGladrey Cost Allocation Study,.dated July20,2009. ltshouldfurther be noted that Administrative and Operating expenses only account for less than four percent(4%)of the total budget which is well below the 20%threshold level established(and permitted)in the Intetiocal Agreement between the City and the County. The current combined debt service on the 2005 Series Bonds and the Parity Bonds accounts for approximately$6.5 million annually.City Center also continues assuming debt service payments on the portion of the Gulf Breeze Loan used to pay for the Bass Museum expansion'and renovation, and the portion of the Sunshine State Loan Program used for Lincoln Road improvements,which collectively account for approximately$1.3 million, Reserve line item expenditures include those_items that,pursuant to the existing Bond Covenants, may only be ex ended once the annual debt service obligations have been met.These include.the County's administrative fees, equivalent to :1.5/o of Its respective TT...payment; and the corresponding contribution to the City's General Fund,equivalent to 1.5%of the.City's share of its TIF payment;and the remittance of the IS mill tax lever back to the Children's.Trust. The revenues and expenses associated with operations of the newly opened Pennsylvania Avenue Shops and Garage and the Anchor Shops and Parking Garage are presented as separate schedules In order to eliminate any perception that proceeds from the facilities' operations are pooled with TIF and other Trust Fund.revenues: Anchor Shops and Parking Garage Garage revenues at the Anchor Garage are projected at approximately$3:1 million,with operating expenses,(including depreciation,contractual revenue-sharing obligations with Loews and general fund administrative_fees);of approximately$2.6 million and reserves of$72,000:The Anchor retail operations is expected to generate $857,000 In revenues; Including interest, with.operating expenses associated with the retail management contract,related reimbursable expenditures,and depreciation totaling. $116,000, as well as projected reserves of$741,000, Pennsylvania Avenue Shops and Garage In consideration Of the fact that the Pennsylvania Avenue Shops and Garage was built by the RDA on City-owned property,the operation of the facility has been structured in the form of a ground lease between the City and the RDA,providing terms for both the Garage and Retail operations. . 3, September 30,2013 Redevelopment Agency Memorandum Operating Budget for My Center.'for FY 2013114 Page 3of3 The garage operations Include base rent and an administrative fee, consistent with that of the Anchor Garage;Parking's operational fee,and revenue sharing between the Cityand the RDA The Retail operations also include base rent and an administrative fee,as well as:a retail lease rate based on 2010 retail market cap rates.The retail operations also include revenue sharing between the City and the RDA. Based on estimates of the garage's current-year operating results,and taking into consideration the successful execution or a lease agreement with Penn 17, LLC.;for the entire retail space, the facility is anticipated to generate$1,500,000 in revenues in FY 2013/14,comprising$656,000 in parking revenues and$550,000 In retail income, However,since the facility is still anticipated to operate at a toss during FY 201 3/14,the RDA plans to subsidize its operations through a transfer of • $305,000 to the parking operations. Expenses for the facility are budgeted at $1.5 Million, comprising$900,000 in direct operating cost s for the garage and.$611,000 In lease terrrtielated • obligations. CONCLUSION The proposed FY 2013114 City Center Redevelopment Area Budgetof.$43,000,000 is$94,000 less than the proposed budget recommended by the Executive Director on September 11,.2011.. This decrease is.a result of a reduction in the citywide millage rate of .0275 by the Mayor and Commission at its workshop held September 23,2013. This millage reduction decreases the'TIF revenues paid to the City Center Redevelopment Area by the City of Miami Beach. This reduction in revenues was offset by a reduction in the expenditure line"Reserve for Future Capital Projects," in order to address the existing and future obligations In the Redevelopment Area It is recommended that the Redevelopment Agency adopt the attached Resolution,which establishes the oRerating budgets for the City Center Redevelopment Area, the Anchor Shops and Parking Carag and the Pennsylvania Avenue Shops and Garage for FY 2013/14.. JLM/__ /MS Attachment TAAOENDA120131Septemaer 301RDA Budget memo 2013 14.doc • • ,• Miami Beach Redevelopment Agency . .City Center Redevelopment Area PropOSe d FY 2013114 Operating gud@et • i FY 19t14' Bud d •FY 10111 . •c(iiit2 FY2012/13 Propoped. Variance .Actirat •Actue! Adapted Budget .From:FY 12!13 Revenues and Other Bounces of Income Tax•Increment-.City.. S. 15,377,01a $ 18,337,803 $ i9.i$8;000 $ 18,934,000 3 746,000 Pro)Adjustment to dry increment .(i.475,726) :(1,75$,457} (1,871,000) (0000) 1,777',000 Tax Increment-County 16.047,879 14,281;238 14.618,040 15,992,000 1,174,000 Pro)Adiwtarerrt to my Mcrenient .(1,262384). (1,367,157) (1,638,000) (74,000) 1,562,000 • Ist>VK,.[aantritwticn tram Rasflrt Tax 4,492,075 4,935,188 4.684,000: 5;386,000 702,000 112 M111 ChUdren's•Tru51 COrttrlbtRlOrt 1;474,030 1,461,004 1.675;000 1,831,000 256,000 interest Income. 9,291 8178 '13,000 25,000 12,000 .Fund.Balanca Reallocelion:(Non-11F) - - - - . Fund BgianCCRanai and Repl$ceement. -- - - - Other Income1Ad]irstments:. - 6.190 - TOTAL REVENUE6 $ $7,663,781 1 35,924,961 $.. 36,771,000 $ 43,000;000 $$ (229, 0D AdmintOperattng Expenses Management fee(eelaries.ei•benefit's) $ 941,524 "3 952,689 .$ 976,000 $ 1,043,000 $ - 67,400 .Saiedee and Benefits 559;001 $65.000 155,000 .90.000 Advertising S promotion 50,000 50,000. Postage,printing &mailing 81' 3,000 3,000 - O ice aupellee'I3 equipment 2,548 2;2$9 4,000 4,000 1,000 Other Operating 1,001? 1,000 Meetings&conferences 12 .- Dues;8.subscdptmns 788 795 .2,000 2,00a . - Uoenees d,Taxes Atuct Reed . 20,280 .20,200 9,000 21,000 12,000 • Profassiunal 8.relatediees 56,031 175,373 241,000- 0,00 388,000 Repaire and_Nlatntonance• .. - 31.488 88.400 26,000 (73,000) MIsCAllatte0O3 expenses 5,000 33 939 47 000 27 000 20 000 Total AdmirtiOporsdnp Expenses 8 1,028,244 8 1,274614 '$ 1,446,000 3 1,90,0.' $ 616,000 project Expenses Community Peking 168-1124 $ 2;754,374 5 3,411,728 $ 3,741;300 $ 4,145,000 $ 454,000 Debbi Projects M0 ntertence; • ¢ Property Mgmt 1038904 890,358 10013,473 $1.143,000 1,176,000 33,000 Sanitation;188-9905 2,092,146 2,580,468 82,693,000 3,020,000 427.000 Greenest*:105-9966 506,242 : 5763,000 832,01)0 69,000 NWS Project/Lincoln-Park Complex Contingency - - - . - - NWS Project=Grant4n.Ald 15,000,000 - - -. Transfer to Penn Garage Parking 76,822 48,801 405,000- .x,000 (100,000) Transfer to Pen Garage Retell :28,445 347,112 n . Tsansfer.te Renewal and Replacement - - 705,000 $87,000 (038,000) Transfer to•0apttaf Projects 136;768 13,541;301.. . 14,238,000 . 18,443,000. 4,205,000 Total Project Expenses $ 0;675,706 $ 21,428.123 3 .23,609,000 $ 28,038,009 $ 4.450,000 Reserve and Debt Service Obligations Debt Service coot-2005A Partly Bonds .$ 9,393,254 .$ 6;548,105 $ 0,415,000 8 .8;650,000 $ 135,000 (( Current Debt:Servlce-Llneoln.Rd Project, 1,094:170 1,103,386 $785,000 825,000 40:000- I Cuirent Debt Service-Bass Museuru 505,850 502,746 503,000• 547.000. 44,006 •Reserve lot Count)Admin Fee 221,782 193,661 196,000. 239,000 41,000 Reserve tar CMB.Contribution '263;531 248,719• 261,000 293,000 22,000 Reserve forchltdren's Trust Contributionl 1,474;830 1,480,004 1,575,000 1,831.000 250,000 Reserve for Colllnc Park Partdng Garage - 1,451,823 Repayriient,Prior Yr Fund Balance .2;046,248 - - 342,000 342.000 Reserve for Future Projects . .. 384,000 . _ .384,000 Total Iieeerve and Debt Service $ 14,889,679 g 13,529,024 $ 11,737,000 s 13.001,000 5 1.204,000 TOTAL EXPENSES AND OBLIGATIONS $ 36,091,628 $ 36,235,361 $ 38;771,000 $ 43 000,000 1 6,229,000 • REVENUES-.EXPENSES• $ 672;153 $ (310,400) $ - $ •. 5 - • t , . Proposed FY2013/14 Anchor.Shops and Parking Garage Operating Budget FY 13114. .FY 10111 F1r111112 FY 2012113 Prepapatl Variance,• Revenues: Actual .. Actnal Adopted. Eluded . 3,070,82; :$ ':9;040.000 $: 313040U0 $ -- - 81.000 i Parking dperatiotr6 d 2,3tiB4O00 �.. Reid Leasing- 714,150. 615,016 $708,000 847,000 130,E tnterect.Poo$d Casa 39,216 13.897 • $26:000 . .18,000 (8:000) TOTAL REVENUES $ 3,121,368 4 3,748,734 $ 3,783,OGD $ 3,095,000 $ 212,000• Operating eiipenses;. Perking Operations $ 1,$52,841 $ '1;284875. $ .2;025000 :$ 2,070.000 $ 53,000 Game Use Faso-0-000 411,918 440 24i -48300 - 507,000 44,000 Garage Repa]rs and Matntenanee = 37,000: 37,000 Ro181l Le/tiring prpperly Management fee 7017 62,619 62,000 = (52,000) Retail Leasing Repair a.Maintenance 32,000 32,000 Retail Internal Service Charges 98,274 88,109 -35,000 10,000 (16,000). • Fteteii:[>perailons Oerreciatton $5,380 55,596 :55:000 65.000 - Manageinenf Featat General Fund 169,074 198;740 223600. 224,008. 1,000 Parking Operatlorie Manageemeni•Fee 189:074 196.740 222,000. 224,000 1,000 Retell 1-parring Man gement Fee to OF - 14,-090 10.000. (4,000). Transfer,tei Renewet and Replesemont 182;000 220,000 38,000, • 77ansfer.ta Capital protects- " Reserve for Future Capital-Parking Operations - 223,962 358,000. 12mD 286,000) -Reserve for Feline Cepilal-Retail Operations ... -. 378,000 741,000 385,000 TOTAL EiXFEht8E8 I. 2,542,420 5: 2,444,$42 5 3,783,000- -5....... 8,995,000 $ 212,050 • REVENUE$' EXPENSES $ 678,946 $ 1,898,792 $ • .5 $ . Prapt tied P 2413114 Pennaytvatrle Ave Shops and Garage Operating Budget FY 13114 FY 10111 FY11112 FY 2013113 Proposed Variant Revenuae: Actual Admit . 'Adopted .. Budget . Parking Operations $. 478,583 5 618,961 $ 620,000. .5 058,000 $ 138,000 . Retail Leasing:. - '147,123 574,000 550,000 (24,000) Retail Transfer from RDA OperaUona -• 347,112 - - Parking Transfertrom:RDA Operations 102,070 346;000 406,000 305,000. (100,000) interest Pooled Galt. - 492 • . .- TOTAL REVENUES 3 . 580,6$3 $ • 1,459,688 5 1,499,440 it: 1,511;000. .$ 12,000 • Operating Expenses: • Parking Operations Expenditures. $ 301727 $ 723,020 $ 802,000 S. 822,000 .$ 20,000. • Parking AdminIBase Fee 73.708 45,388 53:000 55,000• 2,000 • • Garage Qrorrnd.l.8ase 23;552 23,562 • 23,000 23,000 • • Parking Base Rent 23;552 23,552 523,000 23,009. - Addt11Per ntsge Rent , - •-©wage Management f=eel • 547,604. $47:000 51.000 14.090 Retail Additional Base Rent • $16,$92 $2713,000. 220,000 • (49,000) • Retail base Rent • $278,448. 61,000 138,000 85,000 Retail Adrn(n Fete. • 11,137 - - Depreciation $11„861 • • Leasing Commissions 603,400 - - . 51,000 (2,000) Admit l=ee(G t=� • 9;$64 $59.000 Conti - ■ 519 000 `134•r• 58 000_. i n9�it - TOTAI EXPENSES $ • 398,047 6 1A81,845 i- -1,449,000 $ 1,511,000 $. • 12,600 REVENUES-EXPENSES $ 182,808 5 f2,157) 3 • $ • S • • • k • 1 7 i" 1 REDEVELOPMENT AGENCY ITEM SUMMARY i • Condensed Title: ' A resotation of the Chairperson and Members of the Miami Beach Redevelopment Agency,adapting.and approprfafing the Miami Reach Redevelopment Agency Capital Budgetfor Fiscal Year{FY)2013/14 and - adopttng the Capital Improvement Plan for FY2013114—2017/18 • • fey lnteraided:Outcome Supported::. . .. . _ : i Ensure,welt designed quality capital projects--In- ease Community Satisfaction with City Services Supporting Data(surveys,Environmentel Scan,etc.):Based on the 2012 communitysurvey,recently • completed capful projects were highly rated by both:residents and businesses. In the 2012 survey,arts andcuiture were identified as services:the city should strive ratio reduce;and avallabilityof public perking; • was one of the Factors identified as'key drivers of overall satisfaction levels, m Rein Summat!yiReoammendation The Cli'was created as a plan for projects that require significant capital.investment and is intended to . serve as an official statement of pubiic'policy regarding long-range physical develop►itent In the City of Miami Beach and the Miami Beach RDA;establishing priorities for the upcoming rive year period, FY • - .. ii 2013114 2017118.. The first.year of the CIP Is recommended for approval:as the FY 2013114 Capital II Budget. It • • The Proposed City Center RDA Capital Budget for FY 2013114 therefore.totals$16.954 million a nd the' �} Proposed FY 2013114 Capital.Budget for the RDA Anchor Garage totals$485;000.The Fy 201.3114 proposed,Capital Budget includes appropriations for the construction of the Collins Park Garage;the Bass Museum interior Expansion,Improvements to Euclid Avenue,City Center 98 and Uncoln Road Master Plan Study: 1 • Advisory Board Recommendation: 1 On July 10,2013,the Proposed Capital'Budget and updated Capital Improvement Plan.were discussed at - meetings of the Finance and Citywide Projects Committee and the proposed Capital Budget and CPP reflects the funding recommendations from that meeting . ` Financial Information: ' Source of - Amount Account. - [. .1. $16,954,000. : City.Center RDA . :46.416,:: 1 r $ 4& ,0Q0 RDA Anchor Garage• ` Cr 2 OBPl Total. $17;439;000 . , Financial impact Summary: • City Clerk's Office Legislative Tracking: I Max Sklar,Georgette Daniels and John Woodruff f ,Sign-Offs::. - RDA i I udget Direc or Assistant.Director Exe e Director ; i �•f•I•Ina,•r : .► / .. j .. - I .- .. :_.:._ ;. MASJIm �+ t [ ��Am KGB .; / *td. r:!" _ TMGENDAI201315eptembar a01RDA.Capital Budget Summary 13.14,doc c E „._,N. e MIAMIBEACH DATE -,40-{3 36 • ..„-.- _r.,_•.••-, ...-,«,.�....:......**, -- -- - - r I RESOLUTION NO 6394013 A RESOLUTION OF THE CHAIRPERSON AND MEMBERS OF THE MIAMI I - BEACH REDEVELOPMENT AGENCY,ADOPTING AND APPROPRIATING 1 THE MIAMI BEACH REDEVELOPMENT AGENCY CAPITAL BUDGET FOR FISCAL YEAR (FY) 2013114 AND ADOPTING THE CAPITAL: IMPROVEMENT PLAN FOR 2013114 THROUGH.201711&. WHEREAS,the 2013/14—2017/1.8 Capital improvement Plan(CIP)for the Miami Beach Redevelopment Agency(RDA).is a five year plan for public improvements and capital expenditures by the RDA;and 7 WHEREAS,this document is an official statement of public policy regarding tong-range physical development in the City of Miami Beach;and WHEREAS,the Proposed Capital Budget for FY 2013/14 itemizes project funds to be committed during the upcoming fiscal year detailing expenses for project components which include architect and engineer,construction,equipment,Art in Public Places,and other project costs;and WHEREAS, on July 10, 2013 funding needs for the FY 2013/14,Proposed Capital Budget and CIP were discussed at a meeting of the City of Miami Beach Finance and Citywide Projects Committee and the funding recommendations are reflected; and ' 1 ` WHEREAS, the proposed RDA Capital Budget for FY 2013/14 totals $17,304,000, including$67,000 to Renewal and Replacement projects;and i WHEREAS, the proposed Anchor Garage :Capital Budget for FY 2013/14 totals $465,000,including$220,000 in.Renewal and Replacement projects and WHEREAS,a copy of the proposed projects to be appropriated with the FY,2013/14 Capital Budget and the C[P for FY 2013/14.through 2017/18 are provided in Attachment'A”hereto. NOW, THEREFORE, BE IT RESOLVED BY THE CHAIRPERSON AND MEMBERS OF THE MIAMI BEACH REDEVLOPMENT AGENCY,that the Chairperson and Members hereby adopt and ' appropriate, the Miami Beach RDA Capital Budget for FY 2013/14 and the CIP for FY 2013/14 through 2017/18. I PASSED.AND ADOPTED THIS 30TH DAY OF SEPTEMBER 201 .2 AV".... i s 4 ---.A \-.:1A, CH IRP RSON t Attest: _ ' ' A ,�* ow R I Il''i+S' , - 3-� APPROVED AS TO 4,16)',.• ;,- FORM&L 1GUAGE SECRETARY �,,C1-f 26, * CITRON . a TAAGENDA12a131Septcmber 30t DA Capital Bud$et Reso �''",• - 'A E + . k AV . II I I erg 4/�. q 27P 1 ILr greed- pmsnt Agee 0 to f. General Counsel r _ u p 37 , R I WIAMFE.EA H City of Miami Beach,1.700 Convention Center Drive,Miami Beach,Florida 33134,www.iniamiberickfl.gov COMMISSION ISSION MEMORANDUM . TO; Chairperson Matti Herrera Bower and embers of he Miami Beach Redevelopment Agency FROM: Jimmy L.Morales,Executive Director •, a..:-° t • DATE:: September 30,2013. SUBJECT:A RESOLUTION OF THE CHAIRPERSON AND MEMBERS OF THE MIAMI BEACH REDEVELOPMENT AGENCY,ADOPTING AND APPROPRIATING THE MIAMi BEACH REDEVELOPMENTAGENCYCAPITAL BUDGET FOR FISCAL YEAR(FY)2013[14 AND ADOPTING THE CAPITAL IMiPROVEMENT PLAN FOR FY.2013/14—is_tpAJNISTRATION RECOMMENDATI O I Adopt the Resolution. BACKGROUND Planning for capital improvements Is an ongoing process;as needs change within the.City's Redevelopment District(RDA")-,capital programs and priorities must be adjusted.The Capital improvement Plan t'CIP') serves as the primary planning tool for systematically identifying, prioritizing and assigning funds to critical City and RDA capitaidevelopmerit,improvements and associated needs. • The RDA capitai improvement plan process began in the spring when all departments are asked to prepare capital improvement updates and requests on the department's_ongoing and proposed capital projects. Individual departments prepare submittals identifying potential funding sources and requesting commitment of funds for their respective projects. The proposed document is reviewed by the City Manager,and upon approval, is submitted to the . Finance and Citywide Projects Committee and the City Commission/Redevelopment Agency Board for final approval and adoption. The CIP was created as a plan for projects that require significant capital investment and is Intended to serve as an official statement of public policy regarding long-range physical development in the City of Miami Beach. The CiP specifies and describes the City's.capital project plan and establishes priorities for the upcoming five year period. Individual projects within neighborhood areas have been combined to create "packages"of projects that address the neighborhood needs for infrastructure upgrades, traffic flow, enhancements,etc. This comprehensive approach minimizes disruptions and generates costs savings. The projects address many needs in different areas of the City including: neighborhood enhancements such as landscaping, sidewalk restoration, traffic calming, lighting,parking,water and sewer system improvements,drainage improvements and roadway resurfacing/reconstruction; park renovation and upgrades; and construction or renovation of public facilities. 38 City Commission Memorandum Resolution Adopting FY 2013114 Capita Budget and FY 2013/14—2497118 COY for the RDA September30,2013 it Page 2 The Administration is presenting the proposed FY 2013114 Capital Budget and the.updated C 1R �F for.FY 2013/14-2017/10,following a comprehensive review of the CIP to insure that the Plan accurately reflects all project budgets,funding sources and commitments,for adoption by the City Commission. ANALYSIS • Capital Improvement Plan: The.FY:2013/14.,-2017/18.CIP for the City of Miami Beach and the RDA is a.five.year plan for public improvements and capital expenditures:by the City and theRDA: This document is an of foial statement of public policy regarding long-range physical development in the City of Miami Beach and the RDA The approved Capital Improvement Plan has been updated to include projects that Will be active during;FY'2013/14-2017/18. The Plan has been updated to include additional funding sources that have become available, changes in project..timing, and other adjustments to ongoing projects as they have become better defined. Certain adjustments have been made to reflect projects that have been reconfigured,re-titled;combined with or separated from other projects and/orprojeot groupings i. and are the result of a comprehensive review of the program to insure that our plan accurately reflects all project budgets,funding sources and commitments. Available Capital Funding • Based on the 2013 Certified Taxable Value of the City Center Redevelopment Area(RDA), property values have risen 7.3%for FY 2013/1.4.Net of operating costs,the.RDA will generate I $4-679 5417.304 million in available funding for capital projects in the City Center RDA.. Proposed RDA Capital Budget The City Center RDA FY2013/14 renewal and replacement projects total$67,000. In addition, I the City Center RDA FY 2013/14 proposed Capital Budget of.$ 717.237 million includes $122 million in funding for the construction of the Collins Park.Garage, $3:75 million for the Bass Museum Interior Expansion,$69,000for the Euclid:Avenue Improvements,$326,000 for the City Center9B project,pw000 for Legal Fees associated with pending litigation on the C;ty Center 9A protect, and$500,000 for the Lincoln Road Master Plan Study.The Anchor Shops and Parking Garage Fund,which is separate because it is not part of the Tax increment funding of the RDA,has proposed capital projects of$240,000 for Phase 11 of the upgrade to the gated parking revenue control system and $25,000 for a garage structural engineering study. It also has FY 2013114 renewal and replacement needs totaling$220,000 and$265,000 for capital projects in the Anchor Garage. CONCLUSION: l ! The Administration.recommend s adoption of the attached Resolution,which establishes the Capital Budget for the RDA for FY 2013/14 and the Capital Improvement Program for FY 2013/1'. 017/18. JLMfK : T:1AGENDA120131Sepiember=RDA Capital budget mertto 13 14.doc • I J v R • E E a i s - pwtruntrlan Mods Rd tatidiaaphx0.ei10x10 Wash 150.000 0 0 0 '0 0 0 160,000_ t nifintmip Linc01n Rd.MaO.Feurd&inPump,.L ndseap 62,315 0 0 0 0 0 0 62;315 pke0nrtgf tlncedn Road t.sndtcapin0 0'113 160.600. 0 0 0 0. 0. 0 150,000 • pIceltnrdla. L,tilcdn,RoadMaOADA Pedestrian pa0urey 67.500 0 0 0 0. 0 0 97,500 rarellncrosp Llnedn Road Matter Ptaii`Swdy' 0 600.000 D 0 0 0 0 600000 n v o l i p w a s i h L 1cettl Road Waih,1 n Ilv to Lenox Ave 0 0 10,000;000 10000,000 0 0 0 • 20.000,000 MAaeo td 21$3 0 Ca1ats A5rerwa 625.000 .0 0 0 .0 0 •0 135 000 1 plurieolpvar P ject rrmmchemtr Boyd Cd1t:0011010 etU8Id Rept,R8R 52.869 A 0 0 0 0 0 52063 Fnetnohexer Miami D4.0144164 Cncite Rea•RBR 50,875 :o. a 0 0 0 0 60,875 1 10.6 nehtasr Ward Coy Ba661.Ate Jltstm 5y6-6181k 295,260 -0 0 0 0 0 0 265,260 # t.rnimcbiltdre 1,311,0 City B0114lfitiridoWReptticainet*R6R 65,491 0 0 0 0 0 -0 06.0i twpedscoif PedtrstrlassCo'mldownSi haIs Ph I' • 61000 0 0 0 0 0 0 60,000 pimnrragnra .Pennsvar>ip.(New WMd SftOphonlrj Gampe, 17,085,175 0 0 0 0 0 • 0 17,085,135 i pgcpteigar Preferred Lot Parting 601000 0 • 0 0 0 0 • 0 70,000,000 70000.000 ; pwdteuclrepr :Reserve-Euclid Ave Irup 01lMcdn Rd 415,620 69,000 0 0 0 0 G .485070 5 • orastbotantt 550805.8otardral Dardt.Colllas Cenal'Cor '1,208,662 0 0 0. 0 0 0 L208.662 enctraebtp tiotti Iteceptadee -75.000 0 0 0 0 A 0 25.000 0 roswastrow WestAvenue/60y Road lmpravemarts 760.600 0 0 0 0 D 0 •140.000 t 84001: 78,925050 16.W3.000 13,760,000 10,000.000 0 0 04.950.000' x14,0161010 • 463 RDA=Anchor Gardgo Fund • rRwtcaesp. ,Pndsot Osiego NC fteptaoemeM R50 06020 0 0 0 0 0 .0 06.020 'I man** Anettort3es geElsolor,Replavil-MR. 957.095- 9 0 0 0 0 .0 3571905 • I`:. rrsenchrep Anchor°aroot Repair end Upkapl 0 220.000 0 0 0 0 0 220,000 rracncark At Gena4O hoof Repxrm0C-R8R 135,646 0 0 0 O 0 0 05,646 'senebaett Anehor Oaraae S1nretuial Et*Study 0 25,000 0 0 0 0 .0 25.000 t. rrdro.rs• .Andros%tapsFfre.6ystemReplaoemeitl. 75.045 0' 0 0 0 0 0 75.45 . pgeeclxgar Gost>d t trcuti Television SYslem 172.000 0 0 0 0 0 0 172.903 p4cpay4Oot P.ey on Fo01(POF)Mac►dnes 250.000. , 0 0 0 0 0 :0 350,000 egcrevicep2 Retinue C4n0e1 E9p Fuse 0 0. 240,000 0 0 0 0 .o' 240, Bum: 1,030,403 105,009 0' 0 0 0 0 `1,523;903 ' 401 Ftlnd467 Penn 001080 1 pgttctsgaf: Closed C1/b4.O7oldialo9Syiler0 20.000 0 .0 0 - 0 0 6 20,000 oclepincep_t, ReQenue c0000100 Phase I _ :89900. 0 0' 0 4 0 0 6}.000 Sutra: 09,000 0 0 0 0 0 0 -0 85.000 . i. • . t . . • I . . t i I i I. • I. I il I I . I 1 i I 1 L i L a I °n i p g 40 .• i L4 RESOLUTION NO,. 696:2013 i 1 A RESOLUTION OF THE CHAIRPERSON ANDMEMBERS OF THE MIAMI BEACH REDEVELOPMENT AGENCY ADOPTING AND ii APPROPRIATING THE FIRST AMENDMENT TO THE.OPERATING BUDGET FOR THE CITY CENTER REDEVELOPMENT AREA,FOR FISCAL YEAR 201211.3. If WHEREAS,the City Center Redevelopment Area_Budget for Fiscal.Year 2012113 i1 was adopted on September 27,2012 via Resolution No.588-2012;and ii WHEREAS, the. proposed City Center Redevelopment Area. Budget reflects I P P Y anticipated construction project costs in addition to operating and debt service costs for the fiscal year; and i. WHEREAS,the Redevelopment Agency adopted Resolution No 5952013 on June I • 5, 2013, setting :a public hearing to consider the first amendment to the FY 2012/13 + operating budget for the.City enter Redevelopment.Area; and 1' ij i WHEREAS,the Administration recommends adopting and appropriating the First Amendment to the RDA Budget to reflect increase expenditures relative to the Convention ii Center Enhancement and Expansion Project and real estate taxes associated with 340 23' Street,which will be offset with increased resort tax revenue,as well as funds escrowed for the 2011 real estate taxes for 340 23"1 Street: t NOW, THEREFORE, BE IT DULY RESOLVED BY THE CHAIRPERSON AND I MEMBERS OF THE MIAMI BEACH REDEVELOPMENT AGENCY,that the.Chairperson and Members of the Miami Beach Redevelopment Agency hereby adopt and appropriate the first amendment to the operating bud et for the City Center Redevelopment Area,for 9 tY p Fiscal Year 201.2/13,appropriating an additional$528,729. ; A Budget Proposed Amendment , . ..., $ 5 69, 00 Proposed Amended Budget $37;340;000 ED i l AND ADOPTED THIS 17TH DAY OF JULY, 2,13.1....A0 • I. p.;Aj_" l i •• SON 6.0 AfRPER ATTEST. s 0 -.\ -i i•INORP I ORATED: SECRETARY �'� •••• :••• 6��? ���f. APPROVED AS TO 4'4 CI 26 *CAW&LANGUAGE TAAGEMDA120131107171RDA Pint Amendment 2012-1' 'lip•[,, ‘ex • '11!MR EXECUTION ' I 1 / _.CIS_a;wet„4■I ' ...::__k>,_\L erne cN Date 41 • . MiAMI BEACH REDEVELOPMENT AGENCY ITEM SUMMARY Condensed Title: . A i Resolution Of The Chairperson.And Members Of The Miami Beach Redevelopment:Agency Adopting And i ah Appropriating g The:First Amendment.To.The Operating Budget For The City Center Redevelopment Area,For • Fiscal Year 2012/13. . .. :. Key Intended Outcome Supported: - improve the`City's.overalo financial=health and maintain overall.bond rating Supporting Data(Surveys,Environmental Scan,etc.); N/A • Item Summary/Recommendation: The budget forth`e City CenferRedevetcipmentArea'tRDA)for Fiscal Year 2012/13 was approved on September 27,2012 With the adoption of ResdlutarNo.58B2012 The RedevebpmenfAgency ado p ted ResblutionNa.:595- 2013 on June 5,2013; setting a public hearing.to consider the first amendment to the FY 2012113 operating • budget for the City Center Redevelapment-Area... The emendment-to the Operating budget for City Center.Redevelopment�Area iS being done to _eddrsss.increased• 1 expenses attributed to the agreement with Strategic Advisory Group(SAG},which is for an amount not to exceed $324;943:41 through.tune 2014..The Redevelopment Agency budgeted;250;000 In the FY2012i13 budget as a plaoehalderto fund this agreement,prlcrta negotiating and approvinli phase-ft of SAG'scontract. 'therefore,an additional antaunt.of appro>(imately$75,000 Is:required to fund one remaining portion of SAG's agreement: I Additional legal services are also anticipated from outside counsel to draft the development agreement ground leases, as well as other related contracts required for the Convention Center Enhancement and Expansion Project The Redevelopment Agency also experienced unanticipated expenses associated With the payment of real estate: taxes for the property located at 340 23`d Street. This property was purchased from American Riviera Real Estate: Company(American Riviera)for the development of the Collins:Park Garage. The City entered into a Parking Perrrilt Agreementwith American Riviera for its continued use of the surface.parking tots at this location, Pursuant-. to Section$of the Agreement,American Riviera.Is required to pay all real estate taxis that are Imposed against the property.However,real estate taxes Were riot paid for 2011 and.2012,which required the Redevelopment Agency to pay the taxes and proceed,to issue American Riviera a Notice of Termination. • • ` These expenses are off.-set by funds$24,104.49,which were escrowed at closing for 201:1 property taxes for the roper e located at 340 23M Street. Ad P- ditionally,Resort Tax Revenue Is projected to be$5,221.,$46 which is $537,848 more than the budgeted amount of$4,684,000 These additional revenues will be.used to cover thereat estate taxes for 340 23r Street and additional consulting and legal expense for the Convention Center Enhancement and Expansion Project. .. .. . Advisory Board Recommendation I N.A i Financial Information: Source of Amount Account. Funds., 71 $400;000 168-1985-000312(Professional Services) lit i 2 $129,000 168-19$5-000368(Property Taxes) • . 3 $111,000 . Repayment—PriorYr Fund Balance: - 4 ($•71 000) Reduction of Operating Expenses OBPI Total $509;000 Financial Impact Summary/:.The amendment is to address increased expenses which will be offset with B _increased resort tax revenue. 1 City Clerk's Office.Legislative Tracking: 1 Max Sklar,Ext,6116 e . Sigh-Offs: - j RD- Budget Assistant 1 Executive 1 1. ato/ _.Al. :Ore .� Die:- .•r: -,•A E rec;r RDA 147,k ='"<D, :o131Ju IT171RDA'7• enilr*e T',2-13 Sunni,oc t MIAMIBEACHAGENDA ITEM• DATE. 1-11—i 5. i 42 6' • • • MIAMIBEACH City of..Miami:Beach,1700 Convention Center.Drive,Miomi Beach,Florida 33134,www,miomibeechli.gav REDEVELOPMENT AGENCY.MEMORANDUM . TO: Chairperson and Mernbers of the Miami each R Aa evelopment Agency FROM: Jimmy L.Morales,Executive Director --.. DATE: July 17,2013 PUBLIC HEARING SUBJECT: A RESOLUTION OF THE CHAIRPER N AND MEMBERS OF THE MIAMI BEACH REDEVELOPMENT AGENCY ADOPTING AND APPROPRIATING .TIE. FIRST . AMENDMENT TO THE OPERATING BUDGET FOR THE CITY CENTER • REDEVELOPMME.NTT AREA,FOR FISCAL YEAR 2012/13. • ADMINISTRATION:RECOMMENDATION Adopt the Resolution. • KEY INTENDED OUTCOME SUPPORTED Improve the.City's financial health and maintain overall bond rating. . ANALYSIS The budget for the City Center Redevelopment Area(RDA)for.Fiscal Year 2012/13 was approved on September 27,2012 with the adoption of Resolution No.58.8-2Q1.2, - City Center Redevelopment Area revenue sources include City and County Tax Increment,Resort Tax contributions; a 'A mill levy set aside for the Children's Trust pursuant to an Interlace' Agreement,dated August 16, 2004 between the RDA,the City of Miami Beach and Miami-Dade County;and an estimate interest income. City Center Redevelopment Area expenses include community policing initiatives in City Center to continue to provide enhanced levels of staffing and services throughout the area,capital projects. and maintenance of RDA capital projects.Administrative Expenses comprising a management fee allocated to the General Fund to pay for direct and indtrect staff support for the RDA;operating expenses;a set aside for on-going planning and consulting work related to the Convention Center. expansion master plan;capital renewal and replacement projects under$25,000. • The City Center Redevelopment Area also annually assumes the combined debt service on the 2005 Series Bonds and the Parity Bonds accounts for approximately$8.4 Million annually. City • Center also continues assuming debt service payments on the portion of the Gulf.Breeze Loan used to pay for the Bass Museum expansion and renovation,and the portion of the Sunshine State Loan Program used for Lincoln Road improvements: on June 5,20 3,setting a public The Redevelopment Agency adopted Resolution No 595-2013 n e , "! , g p 1 ( hearing to consider the first amendment to the FY 2012113 operating budget for the City Center Redevelopment Area. The amendment to the.operating budget for City Center Redevelopment • _ I 43 - - -- -_ - _...----- 1 R First Amendment to the FY 2012113 Operating Budget for City Center Redevelopment Area g A ' . July f7,2013 Page.2 of 2 - ' Area is being done to addressincreased expenses relating to the Convention:Center Enhancement and Expansion Project,which will be offset with increased resort tax revenue.. 1 Increased expenses are attributed to the agreement with Strategic Advisory Group(SAG),which is for an amount not to exceed $324,943.41 through June 2014: The Redevelopment Agency budgeted:$250,000 In the FY 2012/13 budget as a placeholder to fund this agreement prior to negotiating and approving phase II of SAG's contract. Therefore, an additional amount of approximately$75,000 is required to fund the remaining portion of SAG's agreement. Additional legal services are also anticipated from outside counsel to draft the development agreement ground . 1 leases, as well as other related contracts required for the Convention Center Enhancement and i Expansion Project: The Redevelopment Agency also experienced unanticipated expenses associated with the payment of real estate taxes for the property located at 34023 Street the site of the proposed Collins Park Garag e. As you may recall, this property Y was purchased from American Riviera Real Estate I Company(American.Riviera)for the development of the Collins Park Garage. As part of the purchase agreement with American Riviera the City entered into a Parking Permit Agreement with t American:Riviera for its continued use of the:surface parking lots at.this location. Pursuant to d Section 8 of the Agreement, American Riviera is required to pay all real estate taxes that are I imposed against the property. However,real estate taxes were not paid for 2011 and 2012,which required the Redevelopment Agency to pay the taxes and proceed to issue American Riviera a Notice of Termination. American Riviera made a settlement offer which was rejected. The City - Attorney's Office and the Administration continue to negotiations for a settlement. r These expenses are off-set by funds$24,104.49,which were escrowed at closing for 2011 property �' taxes for the property located at 340 23rs.Street.. Additionally,Resort Tax Revenue is projected to. be$5,221,848 which is$537,848 more than the budgeted amount of$4,684,000,These additional . revenues will be used to cover the real estate taxes for 340 23"1'Street and additional consulting and { legal expense.for the Convention Center Enhancement and Expansion Project. ` Attached as Exhibit"A"is a summary of RDA budget which reflects the original adopted,budget and the proposed amended.budget. CONCLUSION_ II The Ex. .tive Director recommends adopting the Resolution. . . JLMN-:/MS! T:SAGENDA120131.1uty 171,RDA First.Amendment 2012-13.Memo.doc i i B 1 5 ; 1 r: t E • t 1 { rt • il 44 Q- "r...:'�L•.^_YMi-J,iti1iA'.iF{MO. .•��_�, _ _....,�- �..+..•-......�..•w-. • 6 p 1 :Miami Beach Redevelopment Agency .. . • City Center Redevelopment Areas . 1. FY 2013/14 Proposed Operating Budget Preilminary o3f22f13 . • • • FY 70121133 FY Toi2Jt3. Budget Budget • • Adcpte0 Attended Variance 1 Revenues end QtherSources W income Tax increment►City(1)188345920 $ 19,188,000 $ 19,18B4O00 $ Adjustment for Prior Year Increment(2) $ (1;871,000) $ (1.871,000) $ • • • Tax Increment-0:urtt r(1)108.311406 $ 14,818,000 5' 14,818;000 $ • • - i • Adjustment forPriorYear Increment(3) $ (1,638,000) $ (i,638,900)'I - 1. .. S0°%o Conhibution frorn ReSort lac 168(3811.00$381400) $ 4;604.0D0. $ 5,221,B4B $ 537,640. law Chlidron's Ttu t C0nlribution(4),166-346950 $ 1,476,0110 3 1_,!;70,405:5 (4,505) • Interest income: 168-800081145 $ •13,000_ $ 25;000 $ °12,000 ' Find Balance Rea(locattom(Non-TIF) $ - $ - $ Fund Balance Renewal and Reptaoernent- $ - S - $ • Other.Incorne/Adjusle►.ents::168-395100 $ - $ 24,1,84 5 24.104 • TOTAL REVENUES • $• 30,771,000 $ 17,340,951 $ 659,3$T ' • • 1. , AdinlnlOperatlnaExpenees(1:+.,,=1985) • :Management fee(salertes.&•benefits) 168(100&.322) 5 1,041,000 $ 1;041,000 S - • :Management fee• b 3,000. .5 (9,000) • $alariei and Benefits 3 4,000 S (4,000) Postage,printing$mailing 168.321. $ 1,000 $ 1,000 '$ -• Qliice eupplies&equipment 168.3418 323 $ 2.000 $ . 2;000 $ 1 • Other Operating 188!943 $ - S - Taxea1881388 $ S. 128,729 .5 128,720 i Meetings&conferences:158-363 $ $ - r: • Dues&aubscrlptians 168-351, .5 - ri .Professional&related fees 168.312 $ :50,000 .$. 0,50,0,00 $ 400,000 s Repatte&Maintenance' 1611342 5 90,000 $ 60,000 $ - Miscellaneous:expenses(intSvcs)168($02,508,343) $ 47,000 $ .47.000 $ - Total AdminlOperating Exponens• $ 1,44,000. $ 1,867;738• 1 621,729 i Praject.ExPBnses i . :Community Policing 188-1124 $ 3,741,000 $ 3,741,000 $ - 1 , CO P&Projects Maintenance: Property Management 168.9964 $ 1,143,000 .S 1,143;009 $. - Sanitation:-188-9065 5 3,693;000 $ 2,393,000 $ Greenspece:188-9965 $ 763.000 $ 704;169 $ ..(58,831) Sub-Total Cap Pro(ectc Maintenenee: $ 4,499,000 $ 4,440,169 $ (58,831) 1 Project/UncolnPark.ComplexContingency $ - $ = k NWS Project-Grant-in-Ald $ S - Transfer to Perin Garage:Parkrng 168-i 0 $985-000491 $ 405,00 405;040. $ . - € Transfer to Penn Ganigo:Retail 188'1985-000491 :S $ - 1 Transfer to Capita!(8)1108.19854300491 • $ 14,943,000 $ 14,943,000 5 ._ . Transfer to Capital Renewal&Rep_laoement(s) $ 503.000 •t Transfer to-capital(6) $ 198,000 I Total Project Expenses $ 23,588,000 $ 23,629,189 3 • 458,831) Reserve and Debt Senilce OLir9atione . $ .. . : • Debt.Service.Cast-200$, -Pa(1tyBontts160-50 .$ 8,415000 $ 8,40,000 $ • Current Debt Service.-t inooln Rd Projecd(7)160.50 $ 785,000 $ 785,000 $ j Current Debt•Service-°Bass Museum(8)168-50 -$ 503,000 $ 503,000 5 - i' Reserve fat.County Admm ee(9).100363 - .$ 198900 $ 148.000 S Reserve for CMS Contribution(10)168-363 $ 261,000 $ 261,000 5 - , � Reserve-Or Children's'Omit Cnfitbutoin 11)160.353 $ 1,575.000 $ 1,50,405 $ (4,595) Reserve for Collins Park,Parting Garage $ S - S Repayment-Pride YrPund Balance. $ S 111,055 5 111,055 l t Total Reeerv_e and Debt.Service- S 11,737,000 $ 114143,45$ $ 101,458 1 1 TOTAL EXPENSES AND OBLIGATIONS $ 36,771,000 $ 37,340,357 $ .589,357 • REVEfdUES'-.EXPENDITURES $ - $ e: 4 = 45 . . ..... . .. .. . . . ..__ - .. , „ :... . . ..-. .. : . : - ""..-"" '•-' ....•.,-:,.,.-,:--..-.....-. . _ _...__ . .... _... ... ... _,.... _.... . . . .. .„. . . . , ..• .. • . i . •.,.......• ••••.• • •••■••.• ••• •• ....• ••• ••• -• .1. . .MI . -. .• ,_ . .• NE-1 THURSDAY 2013", 'NE. • - .. . . . . . . . .. ..............6: -. I . i. . P ., • , • ! • . , , • , ": '•M I A MI B E AC H ..• .., .. -- - . ; . • . .•• • r. • •. . ■ : ' ., .. .'.:'''...• ..'CITY OF MIAMI•BEACH • •!_-, •-•:•,-,- •.i .- .j • . •..• ., .... - - ,..-- -."....AIOTICE.0E-puBucflEARINGS•'„:,,, •'' '.... , . • _ - . . . • --... • . .. -..-. •„.. . , . NuTic.E:S HEREBY 01.1.,91 That public.,hearings Will be held by the Mayor:and Ggy Commission of. .. . ..the-chk g9illard:01.14111f1aridaili the Go*nlisiodtChambere,73rd Float City H611;1700 convention . . .... . • • 1 :.,Genter Davi;Miami Beackflorkle.On Mfe:rlaes44,11417-,241R to.consgtertlie folieWIng: , .• ' .1. : • . . .. •, .• . •:, . . , r •,. ( 1000 ant., :. , . -,. :,' ' :-'-'' '• 1.. *-!. .:: • • 1 - . ., .. . . . : -; .:•__ i 4 . , . - A ilesOlfition.Of The.Glialifierson Ancillettaleis tif.The Miami BeatitfiedOiopnient"Aieticy 1. . . MOON Add•APPrOptiAtinti The First Anlendrnegticlbe Operalfrig Budget forTh ,Gity Cotter 1. . :-RecleVel0PlitqlitAtialL•ri)t ffecal•Yiar'29*13;.' .."•;•••• .::--. ':" ,' . 1-.*.. ...- , .••• Inquiries may be directed toltteioudstn4ndcuttural BeicloPmeli•DeParinlint a005).•1373:45Th• , ...• , ::. -• 1(111 ant ..•".:..."......'• .:•.''- ..,••.. -.t-..,i ....... .t .g.• ,-:• ., •• •-, .-, •...-- . Ordination..kneriding..101ind Beach city Godo.94apier:.3.8,-6IiIied-neentllinV,.B.y.Including. .. . -Reference TO APORgibic ptatuieryjltiviAlciris Of FlOriga.Electiori Code;GerreCetingVographltai' ; •Errors;;Amending.:city-:Ode Geetion.-3t1,4 TO'Provide •'For.Commission Canvassing-Of: ' ... , .. • : .. Election hebnas On The:first-Rusin*.Dayltrimedtately"-Fi:110Wiiig fife Opp*Surrenrisor'Of• . • fleet's:0'o Issuance Of Anal Election Returns And,Gonfiri.ning-Aulliortt.atiOn Of•Emergency Commis:4n Action;taken At Any-Ciimridseibii Meeting Ofibutriag Between-GenOal Woollen. -- . -',Oate-And.ACte.•pianCe.Of Final Run-Off Electidn Relurns.;•Anigndln,g.CILY tide'SeCtiOri$ii-t•ify -t- - ,_ . . • Establishing The-Numbilf Of Day67forgarly Voting Relative:To:Gity• erteralr•Ruli-Off Aid SpetiW 13eCtlane.Upon GO Commission AUtfibrigatibfrof,'Emly VOtingi And Authalzing'.Citt OrtiMlasttio; To:Mange'Eafilt•Volinti-SchedUig For7igoctiOna:thit fleidi In coJuifptiin.With C±iintfy Or• _State Eleictlbna;•And'Creating City C'ciao Secuon:08,7Entill9d."PfkutIntd'E6tOlilistlIng Intgrni*kib 1. ( ' •To topr&ictbd Bi..Petition Giscolatara Anh Niperit'§igningArdilptive,-Reforoodi.00:.ArkdOT: . Recfall:Fatillons-- :••-- - -. ,• • -...;;-...,-,., --.......• .::,r,.:• -::- „ -•-.-.• . • -.. I Inquiries may be directed to the.cityAttame50.ebfliC0'-td131)5)4.71:7470... , • . ' • . . 1030 am . ' ; . ',:`:::.-....f...,_±..;'-..i--... • ". — - ;'... ."' ,. .••••- '; . •'•*••:. , ... Ordinance_Amendinf T.4.'7•COliii.;•.glf:Ilie...,City.Of Miami:Beech:,.13Y.Arnon.ding,.chaptee..2:,:Entitled ., ."AdMirliatration,"ity,Aiiiiiciine-AriktgfiffEntfiled 4Agelic1eC BONS Aria-cOirmlftealt Ry.Amendind I •Divfilon 1,En11.' le,d.4eblirigjfeylOotianifirgi-aecgrin'2.:22,Entitled°General Retlu1rernenia,',3jo.PrOla0; • I 1 :Prif0e-durciblftirThtiFtIlltb.:Qt.tpletill V.;OelicieeiOn'The Beiard-Q1AdjuOriiat kiedriing.Board,oe.tn•: . .{ Review liard,.!n ;Fiyifi " f-vl4ton.,,YcirdlyAne.n ,n,i r S-*ciin 2- 24 EnkitdYi•Terhin-idiOM iinceincyyiitclttlt:rttieipiiti: tiAM eng The ExCepliOn Provisions Toinclude Special section*0 12* — '.'•:. -, .In***maybe dii:e-itoto.tnq gliottpLifolyticiiii1341.07k:05.. I;. ' i• . 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'Pursuant to-Section 286•010%Fla Slathe'city•here:hy adViseslhepublic Mat if apersartdodidus to. , I : ... appeal dedision Mille.bYlhe.Gily—Oofn mission with regiectleany matter contliiired at Its Mooting ! • belts ilearing,..sUcif pertlid.mitstnentyrelhat.4 verbatim record of tha.proctelfings is made,which recordln*dos the _toStlinritiy_and evidence Op which the appeal Is to be based:This:polite dAeynet -ColisittOn;dittliftbe.CV Win&in*ntilon or admission of otherwise InaciinissIblo,otlirplevent " evirionCe,noi".0aitauitorize challenges or-appeals:no/OtheRse allowed by lqi: • . ... . , .. •, .„• . • . . To request this,malarial in-acCeselble forMat,.alitii,langnagelnter.grelers,..informition7on-access for .!. , perspns wilk•dieabirditt andArr:anY-fic.cOmModation to revielkiny ttocurinint:or participate tq any •1 _city-sponsored proceeding,:Piease cot4Ct.lis five diVt In advance.et 145')6737411(vnice)lir Ty users may 41so Callibefierida Fteleg-eri,lice 54711.,:•N TA‘.'1. , .• .... 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