2014-3901 Ordinance ORDINANCE NO. 2014-3901
AN ORDINANCE OF THE MAYOR AND CITY COMMISSION OF THE
CITY OF MIAMI BEACH, FLORIDA, AMENDING ORDINANCE NO. 93-
2836 OF THE CITY OF MIAMI BEACH, REGARDING THE
ESTABLISHMENT OF A TRUST FUND FOR THE "CITY
CENTER/HISTORIC CONVENTION VILLAGE REDEVELOPMENT AND
REVITALIZATION AREA," BY AMENDING SECTION 4 THEREOF TO
EXTEND THE PERIOD OF FUNDING THE TRUST FUND; PROVIDING
FOR REPEALER, SEVERABILITY, AND AN EFFECTIVE DATE.
WHEREAS, on January 26, 1993, Miami-Dade County, Florida (the "County")
adopted Resolution No. R-14-93, which among other things (i)found the area in the City of
Miami Beach (the "City") bounded on the East by the Atlantic Ocean, on the North by 24th
Street, on the West by West Avenue, and on the South by 14th Lane (the"Redevelopment
Area") to be a "blighted area" within the meaning of Part III of Chapter 163, Florida
Statutes, and (ii) delegated to the City of Miami Beach, pursuant to Section 163.410,
Florida Statutes, certain powers conferred upon the County Commission as the governing
body of Dade County by Part III of Chapter 163, Florida Statutes, with regard to the
Redevelopment Area, so that the City Commission, either directly or through its duly
designated community redevelopment agency, may proceed to exercise such powers; and
WHEREAS, on February 3, 1993, the City adopted Resolution No. 93-20709,which
established a community redevelopment agency (the "Miami Beach Redevelopment
Agency" or the "Agency"), and declared the members of the City Commission as the
members of the Agency; and
WHEREAS, on February 12, 1993, the City adopted Resolution No. 93-20721,
which adopted the Agency's City Center/Historic Convention Village Redevelopment and
Revitalization Area plan (the "Plan") for the redevelopment and revitalization of the
Redevelopment Area; and
WHEREAS, on February 24, 1993, the City enacted Ordinance 93-2836, which
created a City Center/Historic Convention Village Redevelopment and Revitalization Trust
Fund (the"Fund"or"Trust Fund") and provided a funding mechanism for implementing the
Plan;
WHEREAS, on March 30, 1993, the County adopted Resolution No. R-317-93,
which among other things (i) adopted the Plan, and (ii)approved the Interlocal Cooperation
Agreement, between the County and the City, dated and executed on November 16, 1993;
and
WHEREAS, on April 27, 1993, the County enacted Ordinance No. 93-28, which
established the Trust Fund and provided a funding mechanism for implementing the Plan;
and
WHEREAS, the City and the Agency have prepared an amendment to the Plan (the
"Plan Amendment"), to incorporate (1) the Miami Beach Convention Center Renovation
and Expansion Project, including all necessary improvements to and expansion of the
Convention Center and surrounding area (the "Project"); (2) the financing of the Project,
including the funding of operating and maintenance costs thereof; and (3) extend the time
certain for completing all redevelopment projects financed by increment revenues and
retiring all outstanding indebtedness to a date no later than March 31, 2044; and
WHEREAS, the Agency intends to incur debt, in an amount not to exceed
$430,000,000.00 (the"2015 Bonds"), secured by tax increment revenues of the Agency to,
among other purposes, fund a portion of the Project; and
WHEREAS, it is necessary that the City Commission amend Ordinance No. 93-2836
as required as a condition to the issuance of the 2015 Bonds;
NOW THEREFORE, BE IT DULY ORDAINED BY THE MAYOR AND CITY
COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA AS FOLLOWS:
SECTION 1. AMENDMENT TO SECTION 4 OF ORDINANCE NO. 93-2836
A. That Section 4 of Ordinance No. 93-2836 of the Miami Beach City Code is
hereby amended as follows:
Section 4. Except for the purpose of funding the Fund pursuant to Section 5 of
this ordinance, upon the adoption of this ordinance as herein provided, each Taxing
Authority shall, by January 1 of each year, appropriate to the Fund for so long as any
indebtedness pledging increment revenues to the payment thereof is outstanding (but not
later than March 31, 2044 to eXGeed 30 yeafs) a sum which is no less than the increment
as defined and determined in subsection (1) of Section 163.387, Florida Statutes (as in
effect on the effective date of this ordinance), accruing to such Taxing Authority. If the
Plan is amended or modified pursuant to Section 163.361(1),'Florida Statutes, each such
Taxing Authority shall make such annual appropriation for a period not to exceed 30 years
after the date the Plan is amended. , ' ,
�G#em ,- i-i,- - of thi��GtOGR 4.,The Children's Trust shall become exempt
commencing on the earlier of(i)the date the Aency's bonds outstanding as of November
1, 2014 are no longer outstanding, or (ii) March 31, 2023.
SECTION 2. REPEALER
All ordinances or parts of ordinances in conflict herewith be and the same are
hereby repealed.
SECTION 3. SEVERABILITY
If any section, subsection, clause or provision of this Ordinance is held invalid, the
remainder shall not be affected by such invalidity.
SECTION 4. EFFECTIVE DATE
This Ordinance shall take effect on the day of X10A'*j0r , 2014.
PASSED AND ADOPTED this a 9 day of 2014.
MAYOR
ATTEST-
CITY CL � 1 �
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APPROVED AS TO
FORM &LANGUAGE
&FOR EXECUTION
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City Attomey Date
COMMISSION ITEM SUMMARY
Condensed Title:
An Ordinance Amending Ordinance No. 93-2836 Of The City Of Miami Beach, Regarding The Establishment Of A Trust
Fund For The "City Center/Historic Convention Village Redevelopment And Revitalization Area," By Amending Section 4
Thereof To Extend The Period Of Funding The Trust Fund; Providing For Repealer, Severabilit , And An Effective Date.
Key Intended Outcome Supported:
Expeditiously Upgrade The Convention Center To Be Smart, Modern, Energy Efficient And Which Fits Local Context,
Including Walkability
Supporting Data(Surveys,Environmental Scan,etc.):The 2014 Community Satisfaction Survey reported that over half
of businesses(56%)claimed that the Miami Beach Convention Center added to the success of their business. Six in ten
businesses (61%) support improvements of at least$300 million for the Miami Beach Convention Center.
Item Summa /Recommendation: SECOND READING/PUBLIC HEARING
On January 26, 1993, Miami-Dade County(the"County") adopted Resolution No. R-14-93, which among other things (i)
found the"City Center Redevelopment Area"or"Redevelopment Area"to be a"blighted area"within the meaning of Part III
of Chapter 163, Florida Statutes, and (ii) delegated to the City of Miami Beach, pursuant to Section 163.410, Florida
Statutes, certain powers conferred upon the County Commission as the governing body of Dade County by Part III of
Chapter 163, Florida Statutes, with regard to the Redevelopment Area, so that the City Commission, either directly or
through its duly designated community redevelopment agency, could exercise such powers.
On February 3, 1993, the City adopted Resolution No. 93-20709,which established a community redevelopment agency
(the"Miami Beach Redevelopment Agency"or the"Agency"), and declared the members of the City Commission as the
members of the Agency. Subsequently, on February 12, 1993,the City adopted Resolution No. 93-20721,which adopted
the Agency's City Center/Historic Convention Village Redevelopment and Revitalization Area plan (the "Plan") for the
redevelopment and revitalization of the Redevelopment Area. On February 24, 1993,the City enacted Ordinance 93-2836,
which created a City Center/Historic Convention Village Redevelopment and Revitalization Trust Fund(the"Fund"or"Trust
Fund")and provided a funding mechanism for implementing the Plan. The County,on March 30, 1993,adopted Resolution
No. R-317-93, which among other things (i) adopted the Plan, and (ii) approved the Interlocal Cooperation Agreement,
between the County and the City, dated and executed on November 16, 1993 (as amended, the "CRA Interlocal
Agreement"). The County then enacted
The City's proposed Convention Center Renovation and Expansion Project(the "Project") is estimated to cost a total of
$582 million of which approximately$275 million will be funded from the RDA to fund a portion of such Project. In addition,
approximately$36 million for ancillary Redevelopment Area capital projects,which are part of the existing Plan,as well as
all costs of issuance and debt service reserves associated with the 2015 Bonds(as herein after defined)and refunding of
the existing bonds are all anticipated to be part of the Project financing. The Agency intends to incur debt in an amount not
to exceed $430,000,000.00 (the"2015 Bonds") secured by tax increment revenues of the Agency.
On or around June 2014, the County and City Administrations commenced negotiations and terms of a Memorandum of
Intent (the MOI ). On June 22, 2014, the City Commission, approved Resolution No. 2014-28644, which approved a
Memorandum of Intent(the"MOI"), memorializing the aforementioned terms.The County Mayor has committed to promote
and recommend the terms of the MOI, which will be incorporated into final documents—including the aforestated Plan
amendment; the proposed (third) amendment to the CRA Interlocal Agreement; and an amended and restated CDT
Interlocal Agreement—which will be presented to the City Commission at the October 29, 2014 meeting.
The first step in the process requires the City Commission to amend Ordinance No. 93-2836 as required as a condition to
the issuance of the 2015 Bonds.
Advisory Board Recommendation:
First Reading of the subject item was held at the October 22, 2014, City Commission meeting.
Financial Information:
Source of Funds: Amount Account
1
OBPI Total
Financial Impact Summary:
City Clerk's Office Legislative Tracking:
Max Sklar, Tourism and Cultural Development Director
Sign-Offs:,
Pfffiaqfnen t irec r Assist nt City Manager City Manager
A-yA
MIAMMEACH AGEND ITEM P"1 s
1W DATE �' -
MIAMI BEACH
City of Miami Beath, 1700 Convention Center Drive,Miami Beach, Florida 33139,www.miamibeachfl.gov
CITY COMMISSION MEMORANDUM
TO: Chairperson and Members of the Mia i Beach R evelopment Agency
FROM: Jimmy L. Morales, City Manager
DATE: October 29, 2014
SECOND READING / PUBLIC HEARING
SUBJECT: AN ORDINANCE OF THE MAYOR AND CITY COMMISSION OF THE CITY OF
MIAMI BEACH, FLORIDA,AMENDING ORDINANCE NO. 93-2836 OF THE CITY
OF MIAMI BEACH, REGARDING THE ESTABLISHMENT OF A TRUST FUND
FOR THE "CITY CENTER/HISTORIC CONVENTION VILLAGE
REDEVELOPMENT AND REVITALIZATION AREA," BY AMENDING SECTION 4
THEREOF TO EXTEND THE PERIOD OF FUNDING THE TRUST FUND;
PROVIDING FOR REPEALER, SEVERABILITY, AND AN EFFECTIVE DATE.
BACKGROUND
On January 26, 1993, Miami-Dade County (the "County") adopted Resolution No. R-14-93, which
among other things(i)found the area in the City of Miami Beach (the"City") bounded on the East by
the Atlantic Ocean, on the North by 24th Street, on the West by West Avenue, and on the South by
14th Lane(the"City Center Redevelopment Area"or"Redevelopment Area")to be a"blighted area"
within the meaning of Part III of Chapter 163, Florida Statutes, and (ii)delegated to the City of Miami
Beach, pursuant to Section 163.410, Florida Statutes, certain powers conferred upon the County
Commission as the governing body of Dade County by Part III of Chapter 163, Florida Statutes,with
regard to the Redevelopment Area, so that the City Commission, either directly or through its duly
designated community redevelopment agency, could exercise such powers.
On February 3, 1993, the City adopted Resolution No. 93-20709, which established a community
redevelopment agency(the"Miami Beach Redevelopment Agency"or the"Agency"), and declared
the members of the City Commission as the members of the Agency. Subsequently, on February
12, 1993, the City adopted Resolution No. 93-20721, which adopted the Agency's City
Center/Historic Convention Village Redevelopment and Revitalization Area plan (the"Plan")for the
redevelopment and revitalization of the Redevelopment Area.
On February 24, 1993, the City enacted Ordinance 93-2836, which created a City Center/Historic
Convention Village Redevelopment and Revitalization Trust Fund (the"Fund"or"Trust Fund")and
provided a funding mechanism for implementing the Plan. The County,on March 30, 1993,adopted
Resolution No. R-317-93, which among other things (i) adopted the Plan, and (ii) approved the
Interlocal Cooperation Agreement, between the County and the City, dated and executed on
November 16, 1993 (as amended, the "CRA Interlocal Agreement").
City Commission Meeting
Trust Fund Ordinance Amendment, No. 93-2836
Second Reading/Public Hearing
October 29, 2014
Page 2 of 2
The City's proposed Convention Center Renovation and Expansion Project (the "Project") is
estimated to cost a total of$582 million of which approximately$275 million will be funded from the
RDA to fund a portion of such Project. In addition, approximately $36 million for ancillary
Redevelopment Area capital projects, which are part of the existing Plan, as well as all costs of
issuance and debt service reserves associated with the 2015 Bonds (as herein after defined) and
refunding of the existing bonds are all anticipated to be part of the Project financing. The Agency
intends to incur debt in an amount not to exceed $430,000,000.00 (the "2015 Bonds") secured by
tax increment revenues of the Agency.
On or around June 2014, the County and City Administrations commenced negotiations and
conceptually (in pertinent part) agreed to the following items pertaining to the RDA:
(i) amend the Plan to incorporate (1) the Miami Beach Convention Center
Renovation and Expansion Project, including all necessary improvements to
and expansion of the Convention Center and surrounding area (the
"Project"); (2)the financing of the Project, including the funding of operating
and maintenance costs thereof; and (3) extend the time certain for
completing all redevelopment projects financed by increment revenues and
retiring all outstanding indebtedness to a date no later than March 31, 2044;
and
(ii) amend the Interlocal Agreement to, among other things, memorialize the
aforestated terms, including extending the life of the Redevelopment Area to
March 31, 2044; and
(iii) approve and permit the Agency to issue Redevelopment Area bonds for the
purpose of funding a portion of the Project, as well as, previously approved
and authorized ancillary Redevelopment Area capital projects; and
(iv) provide for an ongoing adequate operating and maintenance subsidy for the
Miami Beach Convention Center, in addition to the existing $4.5 million per
year and annual year-end revenue sharing that the City currently receives
from the Two-Thirds Portion of the Convention Development Tax (CDT).
On June 22, 2014, the City Commission, approved Resolution No. 2014-28644, which approved a
Memorandum of Intent(the"MOI"), memorializing the aforementioned terms.The County Mayor has
committed to promote and recommend the terms of the MOI, which will be incorporated into final
documents—including the aforestated Plan amendment; the proposed (third) amendment to the
CRA Interlocal Agreement; and an amended and restated CDT Interlocal Agreement—which will be
presented to the City Commission at the October 29, 2014 meeting.
The first step in the process requires the City Commission to amend Ordinance No. 93-2836 as
required as a condition to the issuance of the 2015 Bonds.
First Reading of the subject item was held at the October 22, 2014, City Commission meeting.
CONCLUSION
The Administration recommends approving the ordinance amendments on second reading and
Public aring.
JLM/ /MS
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CITY -OF MIAMI BEACH ,
NOTICE.OF PUBLIC-HEARINGS
` ,NOTICE IS HEREBY given,that the following public hearings will:be heard by
the Mayor and City Commission of.the City of Miami Beach, Florida, in the
Commission Chambers, 3rd Floor, City Hall, 1700 Convention Center-Drive,
Miami Beach, Florida, on Wednesday, October 29, 2014, at the times listed, �
-..or as,Ooon thereafter.as the matter Can be heard: -
5:30 -
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Y p� :
f, An Ordinance Amending'Ordinance No.'93-2836 Of The City Of Miami Beach,',
11e0arding The .Establishment Of A Trust Fund For The "City Center/Historic-
Convention Village.Redevelopment And Revitalization Area.' By Amending j
Section 4ThereofTo ExtendThe.Period Of Funding The Trust_Fund; Providing
For Repealer,-Severability,And An Effective--Date. Inquiries-may be directed Ito
-the Tourism, Culture-and Economic Development Department at 305.673.7577
5:35 p.m. o
A Resolution Approving, Following A Duly Noticed PON& Hearing Pursuant_
To Section 163.361(2),. Florida-Statutes, An Amendment To The Miami Beach
City-Center/Historic Convention Village Redevelopment And. Revitalization
Area Plan (City Center ADA), An Approved Redevelopment.Plan Uhder-The
-Provisions Of Section 163.360, Florida Statutes (_The'Plan); Said Amendments:
(A) Incorporating The..City's .Proposed- Convention Center Renovation And
Expansion.Project;And (S)-Providing-For An Extension OfThe City*Center-RDA-
At A Ninety Five Percent (95%)Tax;Increment Until-The Earlier Of March 31,
2044, Or The-Date Agoncy Indebtedness Is.-No Longer Outstanding;. Further
Approving -And 'Authorizing The Mayor And City Clerk To Execute A:Third
-Amend r--ient -By --And Among .Miami-Dade .County-(County), The City, And
The Miami.. Beach Redvelopment Agency (RDA),.To The November 16, 1993,
Inteelocal'Cooperati-oh Agreement, As Arhended-(The Interlocal Agreement),-
-RelatedToThe City Center RDA And ByWhlchThe County.OriginaIly'DeIodated
ToThe City Certain-Redevelopment Powers GcnferredToThe County Under Part f
III,.Chapter 1.63; Florida Statutes (The Community Redevelopment Agreement
Act.Of_:1969"'Or The "Act"); And Which.Amendment, Among -Other Terms,
Extends The.Term'Of.The City Center RDA As Provided In T40 Aforestated Plan.
-Amendment;_;And 'Adds An--Additional Member To The Governing Board-Of
The Agency,Who_Shall'BeThe Miami-Dade County Commissioner Of County
Commission District..5,,PursuantTo.Section 161357(D) OfThe Florida Statutes.-
Inquiries-may be directed to-the Tourism,Culture and Economic Development-
Depar-tment.at'305.673.7577. .
I NTERESTE.D.PARTIES are invited to appear.at-thi's meeting,or be represented
-by an agent, or-to express their views in writing addressed to the City
Commission-, c/o the City Clerk, 1700'Conven�tion Center Drive,.1st Floor, City
Hall, Miami Beach;.Florida, 33139. Copies�of these items 'are available for
public.itfspection during normal business hours-in-the City Cler.k's,Offide,.1�00
Convention Center Drive, 1st Floor, City Hall,_Miami Beach; Florida 33139.T111s
meeting,or any item herein,may.be•continued,and under such circurrmstarices,-
additional legal.notice need not.-be,provided,
.Pursuantto Seetion 2286.0105, Fla..Stat.,-the Ci-ty"hereby.,advises the public that-
ifua=person-docides to appeal-any-decision made by the City'Commission with
respect'to any matter considered, at its meeting or-its hearing, $uch person
must'ensure that a.verbatim record'of-the proceedings is made,which-record
includes the-testimony and evidence upon-which-the-appeal is to be based:
This notice.does:.not constitute consent by:the City for the introduction or,
admission of otherwise inadmissible or irrelevant evidence, nor:does it .
authorize-challenges qr appeals not otherwise allowed by law. _
To ..request..this material in accessible format,-sign. language interpreters.:
informatioh on access for persons with disabilities and/orany'accommodation
to-review any document or participate in any City-sponsored proceeding;'
please contact us five days in advance at-(305)-673-7411 (voice) or TTY use
may also call-the Florida Relay Service at 711.
Rafael E. Granado,City.Clerk
- City of Miami Beach
Ad 951 . -