2001-24622 RESO
RESOLUTION NO. 2001-24622
A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF
THE CITY OF MIAMI BEACH, FLORIDA, APPROPRIATING THE
AMOUNT OF $2,117,029 FOR FUNDS REQUIRED TO OPERATE
THE 7TH STREET AND COLLINS AVENUE PARKING GARAGE
FOR FISCAL YEAR 2001-2002, AND ALSO TO REPAY THE
PROPORTIONATE SHARE OF THE GULF BREEZE LOAN POOL
DEBT SERVICE.
WHEREAS, the public parking garage located at 7th Street and Collins Avenue
(Garage) is currently in oper;ation; and
WHEREAS, an appropriation of funds for the Fiscal Year 2001-2002 budget, in the
amount of $787,728, is necessary to pay for the operating expenses of the Garage; and
WHEREAS, an appropriation of funds is also necessary to repay the proportionate
share of the Gulf Breeze Loan Pool debt service which was used, in part, to fund the
construction of the Garage; and
WHEREAS, surplus revenues will be deposited in the Special Revenue Fund to
assure proper preventive maintenance, and the structural integrity of the Garage.
NOW, THEREFORE, BE IT DULY RESOLVED BY THE MAYOR AND CITY
COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, that the Mayor and City
Commission appropriate the amount of $2,117,029 for funds required to operate the 7th
Street and Collins Avenue Garage, for Fiscal Year 2001-2002 and also to repay the
proportionate share of the Gulf Breeze Loan Pool debt service.
PASSED AND ADOPTED this 21st day of September, 2001
ATTEST:
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CITY CLERK
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T:\AGENDA\2001\SEP2001\CONSENT\7THST,RES
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ACCOUNT
NUMBER 00/01 BUDGET 01/02BUDGET Difference
/ ReVENUe
REVENUE 34404 $2.093.000 $2,117,029 $24,029.00
TOTAL REVENUE $2,093.000 $2,117.029 $24.029.00
it
TEMPORARY LABOR 000311 NA NA NA
MEDICARE 000165 NA NA NA
F.I.CA 000166 NA NA NA
PROFESSIONAL SERVICES 000312 $519,750 $506,565 ($13,185.00)
ELECTRICITY 000314 $31.500 $31.500 $0.00
TELEPHONE 000316 $263 $0 ($263.00)
WATER 000317 $4,190 $4,190 $0.00
SEWER CHARGES 000318 $735 $735 $0.00
SANITATION FEES 000319 $10.500 $10.500 $0.00
ADMINISTRATION FEES 000322 $62,790 $63,510 $720,00
PRINTING 000324 NA $10,500 NA
CONTRACT MAINTENANCE 000325 $111.195 $99,478 ($11.717.00)
ADVERTISING 000327 $0 $0 $0.00
STORM WATER 000329 NA $2,205 NA
OFFICE SUPPLIES 000341 NA $315 NA
REPAIR/MAINTENANCE 000342 $49.140 $54,700 $5,560,00
OTHER OPERATING EXPENSES 000343 $9,530 $3,530 ($6.000.00)
LOCAL MILEAGE REIMBURSEMENT 000364 NA NA NA
DISCOUNTS EARNED 000398 $0 $0 $0.00
INTERNAL SERVICE - CENTER 000501 $315 $0 ($315.00)
INTERNAL SERVICE - COMMUNICATIONS 000504 $525 $0 ($525.00)
FURNITURE & FIXTURES 000671 NA $0 NA
MACHINERY/EQUIPMENT 000674 NA NA NA
TOTAL OPERATING EXPENSES NA NA NA
NoN,OipERATINGJ5XPENSI$S
RESERVE FOR REPLACEMENT 000999 $619.547 NA NA
OE.BT
REDEMBT L T INTEREST 000720 $660.000 $714,000 $54,000.00
TOTAL NONOPERATING EXPENSES $660.000 $714.000 $54,000.00
TOTAL FOR DEPARTMENT NA NA NA
T:\A.GENDA\2001\SEP2001\REGULAR\7STBUOGE.WB2
CITY OF MIAMI BEACH
CITY HALL 1700 CONVENTION CENTER DRIVE MIAMI BEACH, FLORIDA 33139
httr,"\\~i mi::lmi_h~::I,.h fll Ie:
COMMISSION MEMORANDUM NO.
TO:
FROM:
Jorge M. Gonzalez
City Manager
Mayor Neisen O. Kasdin and
Members of the City Commission
d~
DATE: September 21, 2001
SUBJECT: A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY
OF MIAMI BEACH, FLORIDA, APPROPRIATING THE AMOUNT OF
$2,117,029 FOR FUNDS REQUIRED TO OPERATE THE 7TH STREET
AND COLLINS AVENUE PARKING GARAGE FOR FISCAL YEAR 2001-
2002, AND ALSO REPAY THE PROPORTIONATE SHARE OF THE GULF
BREEZE LOAN POOL DEBT SERVICE.
ADMINISTRATION RECOMMENDATION:
Adopt the Resolution.
ANALYSIS:
The funding for the construction of the 7th Street and Collins Avenue garage was
accomplished by utilizing the Gulf Breeze Municipal Loan Pool. The revenues collected
will be used to pay operating expenses and repay the debt service on the proportionate
share of the loan. Surplus revenues will be deposited in the Special Revenue Fund for the
7th Street Garage to ensure proper preventive maintenance and structural integrity of the
structure. The Parking Department is responsible for the collection of the revenues which
will be used to pay operating expenses and debt service. (Attached is a breakdown of
projected expenses for Fiscal year 2001-2002 for the 7th Street and Collins Avenue
Garage).
The operating budget in the amount of $2,117,029 is required to cover the operating
expenses in the amount of $787,728, debt service in the amount of $714,000 and reserve
for replacement in the amount of $615,301. In the event of any shortfall in projected
revenues for the 7th Street Garage, the difference shall be made up by funds from the
current year's contribution to the Reserve for Replacement and, if necessary, from excess
parking revenues from the 7th Street Garage from prior periods.
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