CRA Resolution 024-2024RESOLUTION NO.024-2024
A RESOLUTION OF THE CHAIRPERSON AND BOARD OF DIRECTORS
OF THE NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY,
ADOPTING THE SECOND AMENDMENT TO THE FISCAL YEAR 2024
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)2024 was adopted by the Chairperson and Board of Directors
of the North Beach Community Redevelopment Agency on September 27,2023,through
Resolution No.012-2023,and also adopted by the Mayor and City Commission of the
City of Miami Beach on September 27,2023,through Resolution No.2023-32789;and
WHEREAS,the First Amendment to the North Beach Community Redevelopment
Area operating budget for FY 2024 was adopted by the Chairperson and Board of
Directors of the North Beach Community Redevelopment Agency on November 28,2023,
through Resolution No.014-2023,and also adopted by the Mayor and City Commission
of the City of Miami Beach on November 28,2023,through Resolution No.2023-32839;
and
WHEREAS,the operating budget and First Amendment to the North Beach
Community Redevelopment Area operating budget for FY 2024 was adopted by the
Miami-Dade County Board of County Commissioners on June 4,2024,through
Resolution No.R-490-24;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,which includes the proposed
realignment of funding budgeted between various projects and programs,it is
recommended by the Administration that the total surplus of $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 set aside for projects and programs that were budgeted in FY 2024 that
have not been completed and carried forward and appropriated in the respective FY 2025
North Beach Community Redevelopment Area operating budget.
1
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 Second Amendment to the North Beach Community
Redevelopment Area operating budget for FY 2024 as set forth in the attached Exhibit..A."
PASSED and ADOPTED this2 day of /be @u
ATTEST:
,2024.
7 NOV 2 2 2024
Rafael E.Granado,Secretary
APPROVED AS TO
FORM &LANGUAGE
&FOR EXECUTION
.»lfz=«
Redevelopment Agency •Date
Genera Counsel
+....
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2
Exhibit "A"
North Beach Community Redevelopment Agency
North Beach Community Redevelopment Area
Operating Budget
FY 2024 2nd Budget FY-2024
Amended Budget Amendment Revised.Budget
Revenues and Other Sources of Income
Tax Increment-City $1,082,000 $1,082,000
Tax Increment -County $851,000 $851,000
Fund Balance/Prior Year Surplus $863,000 $863,000
TOTAL REVENUES $2,796,000 $$2,796,000
Admin/Operating Expenditures
CMB Administration $44,000 $(13,700)$30,300
County Adm in Fee $13,000 $13,000
Total Admin/Operating Expenditures $57,000 $(13,700)$43,300
Project Expenditures
Small Business Development $80,000 $(77,000)$3,000
Beautification $1,049,000 $(1,019,000)$30,000
Arts &Culture $135,000 $(128,300)$6,700
Enhanced Services
Community Policing $186,000 $(5,000)$181,000
Code Compliance $100,000 $(28,000)$72,000
Community Cleanliness $100,000 $(47,000)$53,000
Total Project Expenditures $1,650,000 $(1,304,300)$345,700
Reserves,Debt Service and Other Obligations
Set-aside for Affordable &Workforce Housing $298,000 $1,318,000 $1,616,000
Set-aside for Future Projects $791,000 $791,000
Total Reserves,Debt Service &Other Obligations $1,089,000 $1,318,000 $2,407,000
TOTAL EXPENDITURES AND OBLIGATIONS $2,796,000 $$2,796,000
SURPLUS/(GAP)$$$
North Beach Community Redevelopment Agency (NBCRA)2
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
SECOND AMENDMENT TO THE FISCAL YEAR 2024 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)
2024 was adopted by the Chairperson and Board of Directors of the North Beach Community
Redevelopment Agency on September 27,2023,through Resolution No.012-2023,and also
adopted by the Mayor and City Commission of the City of Miami Beach on September 27,2023,
through Resolution No.2023-32789.
The First Amendment to the North Beach Community Redevelopment Area operating budget for
FY 2024 was adopted by the Chairperson and Board of Directors of the North Beach Community
Redevelopment Agency on November 28,2023,through Resolution No.014-2023,and also
adopted by the Mayor and City Commission of the City of Miami Beach on November 28,2023,
through Resolution No.2023-32839.
The operating budget and First Amendment to the North Beach Community Redevelopment Area
operating budget for FY 2024 was adopted by the Miami-Dade County Board of County
Commissioners on June 4,2024,through Resolution No.R-490-24.
ANALYSIS
North Beach CRA Revenues
Revenues for the North Beach Community Redevelopment Area are mainly comprised of City
and County Tax Increment funds.
Page 1930 of 1993
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.
NORTH BEACH CRA OPERA TING BUDGET AMENDMENT
The preliminary FY 2024 year-end analysis based on the proposed realignment of funding
between the various projects and programs that are budgeted in the North Beach Community
Redevelopment Area reflects that revenues for the North Beach Community Redevelopment Area
totaled $2,864,000 while expenditures totaled $389,000 resulting in a preliminary surplus of
$2,475,000 for FY 2024.
FY 2024 FY 2024 Preliminary Actual of
Adopted Ame nded Actuals as ot Arnended mended
Budget Budget 09/30/2024 Budge t Budget
Revenues
Tax hcrement Funds -City 1,082.000 1,082.000 1,082.837 100.1%1,082.000 0 0.0%
Tax hncrement Funds -County 851,000 851.,000 851,672 1001%851.,000 0 00%
Mscellanecus Revenues 0 0 67.317 68000 68.000
Fund BalanceRetaned Earnings/PY Surplus 0 863,000 0 00%863.000 0 00%
Tota l Revenues 1,933 ,000 2.796 .000 2,001,826 71.6%2,864 .000 68.000 2.4%
Expenditures
Adm/Operating Expenditures 57.000 57.000 32 335 56.7%33,300 (23,700)416%
Project Expendrtures 891.000 1.650000 353.338 21.4%355.700 (1.294.300)-784%
Reserves.Debt Serice.and Other Obigatons 985.000 1.089.000 0 0.0%0 (1,089.000)-100.0%
Total Expenditures 1,933 ,000 2,796 ,000 385,673 13.8%389 ,000 (2,407,000 )-86.1%%
Excess of Revenues Over/(Under)Expenditures 0 0 1,616,153 2,475,000 2,475,000
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.
The Administration is recommending that the preliminary surplus of $2,475,000,which is
comprised of $2,407,000 of unspent appropriations in the FY 2024 North Beach Community
Redevelopment Area operating budget and S68,000 in interest income that was accrued in FY
2024,be carried forward into the FY 2025 North Beach Community Redevelopment Area
operating budget for projects within the North Beach Community Redevelopment Agency
Redevelopment Plan that were budgeted in FY 2024 that have not been completed and are still
ongoing.
FISCAL IMPACT STATEMENT
See the information provided above.
Page 1931 0f 1993
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 above.
CONCLUSION
The Administration recommends that the Chairperson and Board of Directors of the North Beach
Community Redevelopment Agency adopt the Second Amendment to the North Beach
Community Redevelopment Area operating budget for FY 2024 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 2-172
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):
Department
Management and Budget
Sponsor(s)
o-sponsor(s)
Condensed Title
Adopt 2nd Amendment to NBCRA Operating Budget for FY 2024.0MB
Page 1932 of 1993
Exhibit A
City of Miami Beach
North Beach Community Redevelopment Area
Operating Budget
FY 2024 2nd Budget FY 2024
Amended Budg e t Am e nd m e n t Re v ised Bu dg e t
Re v e n u es and O ther So u rces o f Income
Tax Increment-City $1,082,000 $1,082,000
Tax Increment -County $851,000 $851,000
Fund Balance/Prior Year Surplus $863,000 $863,000
TO TA L REV E N U E S $2,796,000 $$2,796,000
Ad m in /O p e ratin g Ex pe nd itu re s
CMB Administration $44,000 $(13 ,7 00 )$30,300
County Admin Fee $13,000 $13 ,000
Total Admin/Operating Expenditures $57,000 $(13,700)$43,300
Project Expenditures
Small Business Development $80,000 $(77 ,000 )$3,000
Beautification $1,049,000 $(1,019,000)$30,000
Arts &Culture $135,000 $(128,300)$6,700
Enhanced Services
Community Policing $186,000 $(5,000)$181,000
Code Compliance $100,000 $(28,000)$72 ,000
Community Cleanliness $100 ,000 $(47,000)$53,000
Total Project Expenditures $1,650 ,000 $(1,304,300)$345,7 00
Reserves,Debt Service and Other Obligations
Set-aside for Affordable &Workforce Housing $29 8,000 $1,318,000 $1,616,000
Set-aside for Future Projects $791,000 $791,000
Total Reserves,Debt Service &Other Obligations $1,089,000 $1,318,000 $2,407,000
TOTAL EXPENDITURES AND OBLIGATIONS $2,796,000 $$2,796,000
SURPLUS/(GAP)$$$
Page 1933 of 1993