CRA Resolution 023-2024RESOLUTION NO.023-2024
A RESOLUTION OF THE CHAIRPERSON AND BOARD OF DIRECTORS OF
THE NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY,ADOPTING
THE FIRST AMENDMENT TO THE FISCAL YEAR 2025 OPERATING
BUDGET FOR THE NORTH BEACH COMMUNITY REDEVELOPMENT AREA.
WHEREAS,in accordance with Section 189.016,Florida Statutes,the governing body of
the North Beach Community Redevelopment Agency,operating as a special district,is required
to adopt a budget by resolution each fiscal year and may amend the budget at any time but not
later than within 60 days following the end of the fiscal year;and
WHEREAS,the operating budget for the North Beach Community Redevelopment Area
for Fiscal Year (FY)2025 was adopted by the Chairperson and Board of Directors of the North
Beach Community Redevelopment Agency on September 25,2024,through Resolution No.
021-2024,and also adopted by the Mayor and City Commission of the City of Miami Beach on
September 25,2024,through Resolution No.2024-33298;and
WHEREAS,pursuant to Section 163.387,Florida Statutes,on the last day of the fiscal
year of the community redevelopment agency,any money which remains in the trust fund after
the payment of expenses may be appropriated to a specific redevelopment project pursuant to
an approved community redevelopment plan;and
WHEREAS,based on the preliminary FY 2024 year-end analysis for the North Beach
Community Redevelopment Area operating budget,it is recommended that $2,475,000
comprised of $2,407,000 of unspent appropriations for projects that were budgeted in FY 2024
that have not yet been completed and are still ongoing and $68,000 in interest income that was
accrued in FY 2024,be carried forward and appropriated in the respective FY 2025 North
Beach Community Redevelopment Area operating budget.
NOW,THEREFORE,BE IT DULY RESOLVED BY THE CHAIRPERSON AND BOARD
OF DIRECTORS OF THE NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY,that
following a duly noticed public hearing on November 20,2024,the Chairperson and Board of
Directors of the North Beach Community Redevelopment Agency hereby adopt the First
Amendment to the North Beach Community Redevelopment Area operating budget for FY 2025
as set forth in the attached Exhibit "A."
PASSED and ADOPTED this day of _bye-_,2024.
ATTEST'n
Rafael E.Granado,Secretary
NOV 2 2 2024 APPROVED AS TO
FORM &LANGUAGE
&FOR EXECUTION
~(ID-------=---,,/,1 J~Redevelopment Agency Date
General Counsel
•
Exhibit "A"
North Beach Community Redevelopment Agency
North Beach Community Redevelopment Area
Operating Budget
FY 2025 Carryf orward Carryf orward FY 2025
Adopted Budget Encumbrances Appropriations Other Arended BudgetfromFY2024fromFY2024
Revenues and Other Sources of Income
Tax Increment-City $1,396,000 $1,396,000
Tax Increment-County $1,090,000 $1,090,000
Interest Income $20,000 $20,000
Fund Balance/Prior Year Surplus $$2,407,000 $68,000 $2,475,000
TO TAL REVENUES $2,506,000 $$2,407,000 $68,000 $4,981,000
Admin/Operating Expenditures
CMB Administration $112,000 $112,000
County Admin Fee $17,000 $17,000
Total Admin/Operating Expenditures $129,000 $$$$129,000
Project Expenditures
Small Business Development $97,000 $97,000
Beautification $342,000 $.342,000
Arts &Culture $175,000 $175,000
Enhanced Services
Community Policing $239,000 $239,000
Code Comp I iance $130,000 $130,000
Community Cleanliness $66,000 $66,000
Total Project Expenditures $1,049,000 $$$$1,049,000
Reserves,De bt Service and Other Obligations
Set-aside for Affordable &Workforce Housing $251,000 $1,616,000 $1,867,000
Set-aside for Future Projects $1,077,000 $791,000 $68,000 $1,936,000
Total Reserves,De bt Service &Other Obligations $1,328,000 $$2,407,000 $68,000 $3,803,000
TOTAL EXPENDITU RES AND OBLIGATIONS $2,506,000 $$2,407,000 $68,000 $4,981,000
SURPLUS/(GAP)$$$$$
North Beach Community Redevelopment Agency (NBCRA)1
MIAMI BEACH
NBCRA MEMORANDUM
TO:Honorable Chair and Members of the Board of Directors
FROM:Eric Carpenter,Executive Director
DATE:November 20,2024
TITLE:A RESOLUTION OF THE CHAIRPERSON AND BOARD OF DIRECTORS OF THE
NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY,ADOPTING THE
FIRST AMENDMENT TO THE FISCAL YEAR 2025 OPERATING BUDGET FOR
THE NORTH BEACH COMMUNITY REDEVELOPMENT AREA.JOINT CITY
COMMISSION AND NBCRA
RECOMMENDATION
The Administration recommends adopting this Resolution.
BACKGROUND/HISTORY
In accordance with Section 189.016,Florida Statutes,the governing body of the North Beach
Community Redevelopment Agency,operating as a special district,is required to adopt a budget
by resolution each fiscal year and may amend the budget at any time but not later than within 60
days following the end of the fiscal year.
The operating budget for the North Beach Community Redevelopment Area for Fiscal Year (FY)
2025 was adopted by the Chairperson and Board of Directors of the North Beach Community
Redevelopment Agency on September 25,2024,through Resolution No.021-2024,and also
adopted by the Mayor and City Commission of the City of Miami Beach on September 25,2024,
through Resolution No.2024-33298.
ANALYSIS
North Beach CRA Revenues
Revenues for the North Beach Community Redevelopment Area are mainly comprised of City
and County Tax Increment funds.
North Beach CRA Expenditures
Expenditures for the North Beach Community Redevelopment Area include project-related
expenditures that are allocated for community policing initiatives,enhanced levels of Code
Compliance staffing and services,and additional cleanliness and beautification.
Also included are expenditures for a Commercial Facade Improvement Program to improve area
aesthetics and promote business attraction and retention,a Residential Property Improvement
Program to promote the maintenance of naturally occurring affordable housing stock and
resiliency,Arts and Culture related tourism and branding,and small business development.
Other expenditures include administrative expenditures,County and City administrative fees,a
set-aside for workforce and affordable housing,and a set-aside for future projects.
Page 1924 of 1993
NORTH BEACH CRA OPERATING BUDGET AMENDMENT
Pursuant to Section 163.387,Florida Statutes,on the last day of the fiscal year of the community
redevelopment agency,any money which remains in the trust fund after the payment of expenses
may be appropriated to a specific redevelopment project pursuant to an approved community
redevelopment plan.
Based on the preliminary FY 2024 year-end analysis for the North Beach Community
Redevelopment Area operating budget,it is recommended that $2,475,000 comprised of
$2,407,000 of unspent appropriations in the FY 2024 North Beach Community Redevelopment
Area operating budget and $68,000 in interest income that was accrued in FY 2024,be carried
forward and appropriated in the FY 2025 North Beach Community Redevelopment Area operating
budget for projects within the North Beach Community Redevelopment Agency Redevelopment
Plan that were originally budgeted in FY 2024 that have not been completed and are still ongoing.
FISCAL IMPACT STATEMENT
See the information provided above.
Does this Ordinance require a Business Impact Estimate?
(FOR ORDINANCES ONLY)
If applicable,the Business Impact Estimate (BIE)was published on:
See BIE at:https://www.miamibeachfl.gov/city-hall/city-clerk/meeting-notices/
FINANCIAL INFORMATION
See the information provided above.
CONCLUSION
The Administration recommends that the Chairperson and Board of Directors of the North Beach
Community Redevelopment Agency adopt the First Amendment to the North Beach Community
Redevelopment Area operating budget for FY 2025 as described herein and further detailed in
the attached Exhibit "A."
EC/RW/JDG/TOS/RA
Applicable Area
North Beach
Is this a "Residents Right to Know"item,
pursuant to City Code Section 2-17?
Yes
Is this item related to a G.O.Bond
Project?
No
Was this Agenda Item initially requested by a lobbyist which,as defined in Code Sec_2.481,
includes a principal engaged in lobbying?No
If so,specify the name of lobbyist(s)and principal(s):
Page 1925 of 1993
Department
Management and Budget
Sponsor(s)
Co-sponsor(s]
Condensed Title
Joint,Adopt 1st Amendment to NBCRA Operating Budget for FY 2025.0MB
Page 1926 of 1993
Exhibit A
City of Miami Beach
North Beach Community Redevelopment Area
Operating Budget
FY 2025 Carryforward Carryforward FY 2025EncumbrancesAppropriationsOtherAdoptedBudgetfromFY2024fromFY2024AmendedBudget
Revenues and Other Sources ot Income
Tax Increment-City $1,396,000 $1,396,000
Tax Increment -County $1,090,000 $1,090,000
Interest Income $20,000 s 20,000
Fund Balance/Prior Year Surplus $s 2,407,000 $68,000 s 2,475,000
IOTAL REVENUES $2,506,000 $$2,407,000 $68,000 $4,981,000
dmin/Operating Expenditures
CMB Admimrstraton $112,000 $112,000
County Admin Fee s 17,000 s 17,000
Total Admin/Operating Expenditures $129,000 $$$$129,000
Project Expenditures
Small Business Development s 97,000 $97,000
Beautification $342,000 $342,000
Arts &Culture $175,000 $175,000
Enhanced Services
Community Policing $239,000 $239,000
Code Compliance $130,000 $130,000
Community Cleanliness $66,000 $66,000
Total Project Expenditures $1,049,000 $$$$1,049,000
Reserves,Debt Service and Other Obligations
Set-aside for Affordable &Workforce Housing s 251,000 $1,616,000 $1,867,000
Set-aside for Future Projects $1,077,000 $791,000 $68,000 $1,936,000
Total Reserves,Debt Service &Other Obligations $1,328,000 $$2,407,000 $68,000 $3,803,000
TOTAL EXPENDITURES AND OBLIGATIONS $2,506 ,000 $$2,407,000 $68,000 $4,981,000
SURPLUS /(GAP)$$$$$
Page 1927 of 1993