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Summary I SUMMARY OF THE GENERAL OBLIGATION BONDS APPROVAL AS PART OF THE CAPITAL IMPROVEMENT PROGRAM 1999 - 2004 THE CAPITAL IMPROVEMENT PROGRAM The Capital Improvement Program (CIP) of the City of Miami Beach is a six year plan for public improvements and capital expenditures by the City. The CIP is an official statement of public policy regarding long-range physical development in the City of Miami Beach, A capital improvement is defined as capital or "in-kind" expenditure of $25,000 or more, resulting in the acquisition, improvement, or addition to fixed assets in the form ofland, buildings, or improvements more or less permanent in character, and durable equipment with a life expectancy of at least five years, The CIP is a proposed funding schedule for six years, updated annually to add new projects, to reevaluate program and project priorities and to revise recommendations while taking into account new requirements and new sources of funding, The annual capital programming process provides the following benefits: . The CIP serves as a source of information about the City's physical development and capital expenditures to the citizens, City Commission and Administration, private investors, funding agencies and financial institutions. . The CIP process provides a mechanism that applies uniformity and consistency in the evaluation of projects and assures that projects with the highest cost benefit ratios have greater priority. . The CIP provides for coordination among projects with respect to funding, location and timing, . The CIP is a tool for implementing the Capital Improvement Element of the City of Miami Beach's Comprehensive Plan, and meets the requirements of Chapter 163.3177 and 9J.5 of the Florida Statutes. PROCESS AND PREPARATION OF THE CAPITAL IMPROVEMENT PLAN The City's Capital programming process begins in February when all departments are asked to prepare their capital improvement program containing information on the departments ongoing and proposed capital projects, Individual departments prepare submittal to the Office of Management and Budget. The Planning Department assumes responsibility for coordinating the review and screening of the proposed projects for completeness of information and for compliance with the Comprehensive Plan and other relevant plans and programs. The Capital Improvement Design Review Committee (internal staff committee responsible for reviewing all city projects for planning, design, maintenance, and cost impacts) rates the projects according to the City's goals, the review criteria, and the purposes of the CIP, In addition, the ranking considers conformance with the Comprehensive Plan and other plans for specific areas, any linkages with other projects for combined impact, the availability and source of funding, project impact for maximum benefits to the citizens of the City, and the length of time that a project will benefit the City. The Departments of Finance, Office of Management and Budget, and Public Works provide assistance in preparing the CIP's Capital Budget and review the CIP for budgetary planning purposes. The proposed document is reviewed by the City Manager, and upon approval, is submitted to the Finance and Citywide Projects Committee, Budget Advisory Board, Planning Board, and the City CommissionlRDA for final approval and adoption in principle. RELATIONSHIP OF CAPITAL IMPROVEMENT PLAN TO THE GENERAL OBLIGATION BONDS The Administration developed a proposed General Obligation Bond as part of the Capital Improvement Program (CIP)) 1999-2004 for the City of Miami Beach and the Miami Beach Redevelopment Agency (RDA). As part of the CIP, the proposed General Obligation Bond package provided a funding source for specific projects and capital categories, and proposed ballot question language. OVERVIEW OF GENERAL OBLIGATION BOND APPROVAL . On April 6, 1999, a special meeting of the Finance and Citywide Projects Committee was held to review the proposed City of Miami Beach Capital Improvement Program 1999-2004. The Committee recommended the CIP with a proposed General Obligation Bond and referred it to the Commission for approval. It was also recommended that a community workshop be held (after Commission approval) to obtain public input on the CIP, proposed General Obligation Bond Issue, and other funding sources. . On May 26, 1999, the City Administration presented a resolution requesting the City Commission to adopt the CIP 1999-2004 and authorize the administration to take all necessary action to prepare a ballot question for the November election regarding the proposed $88-million General Obligation Bond program, The City Commission did not approve the proposed resolution. Instead the City Commission requested the Administration further review the list of projects and explore a lower dollar figure for the proposed bond Issue. . On July 14, 1999, the City Commission conducted a workshop on the CIP and proposed General Obligation Bond, In accordance with the Commission's concerns, the proposed bond issue was reduced from $88-million to $65.2-million (Public Safety $13.3; Neighborhood and Park Enhancements $34.6 million; and Public Facilities Rehabilitation and Replacement $ 17.3-million) per the workshop discussions. . On July 21, 1999, the City Commission approved in principle the Capital Improvement Program 1999-2004; approved in principle certain projects within the program for inclusion in a proposed General Obligation Bond offering; authorized the Administration to conduct public meetings and seek input from the community; authorized the administration to prepare ballot language for the November 2, 1999 election, whether the City should be authorized to issue General Obligation Bonds for said projects, payable form ad-valorem taxes; and engage a professional services firm to assist the City with a public information program. . On July 21, 1999, the Miami Beach Chamber of Commerce submitted a survey of frequent voters in Miami Beach to determine public opinion regarding the General Obligation Bond. The survey found that 62% of City voters would vote yes on a 20-year general obligation bond issue. The addition survey found that the top two issues are: (1) improving neighborhoods with landscaping, traffic calming, additional lighting, and street repair, and (2) improving police and fire facilities and equipment. The Administration proceeded to conduct public meetings to obtain input from the community. . On August 18, 1999, meeting with Bond Counsel produced the consolidated proposed project list which included input from community meetings. The project list was grouped into three categories: (1) Fire and Safety Facilities and Equipment, (2) Improvements to Neighborhood Infrastructure, and (3) Improvement to Parks and Beaches. . On August 23, 1999, a citywide public workshop was held in the Commission Chambers and comments and concerns were noted. . On August 24, 1999, the same presentation made at the Community Workshop was taken before the Planning Board and additional comments were taken and changes were made to the project list which resulted in the final proposed General Obligation Bond program . On September 17, 1999, the City Commission approved 3 Resolutions calling for a special election to be held on November 2, 1999 for the purpose of submitting to the electorate of the City of Miami Beach asking whether the City shall be authorized to issue general obligation bonds to renovate, expand and improve fire stations and related facilities and acquire and equip fire trucks ($9,720,000); to improve neighborhood infrastructure ($57,915,000); and to improve recreational facilities and equipment, access, security, and related maintenance facilities and equipment for parks and beaches ($24,120,000). . On November 2,1999, the citizens of Miami Beach approved the issuance of$91,755,00 million General Obligation Bonds. . On November 17, 1999, the City Commission approved an ordinance establishing a (13) thirteen member General Obligation Bond Oversight Committee.