RESOLUTION 93-20773 RESOLUTION NO. 93-20773
A RESOLUTION OF THE MAYOR AND CITY COMMISSION
OF THE CITY OF MIAMI BEACH, FLORIDA AMENDING
THE FY 1992/93 GENERAL FUND BUDGET; PROVIDING
FOR AN INCREASE OF $200,000 TO THE HISTORIC
CONVENTION VILLAGE REDEVELOPMENT AND
REVITALIZATION PROJECT WITH FUNDING TO BE
PROVIDED FROM A LOAN FROM RESORT TAX REVENUES
TO BE REPAID FROM FUTURE TAX INCREMENT
PROCEEDS COLLECTED BY THE CITY CENTER/HISTORIC
CONVENTION VILLAGE REDEVELOPMENT AND
REVITALIZATION AREA.
WHEREAS, in FY 1991/92 , the City of Miami Beach contracted
with the firm of Wallace Roberts and Todd to conduct the Phase I
component for the necessary studies and findings of necessity to
establish the City Center/Historic Convention Village Redevelopment
and Revitalization Area; and
WHEREAS, the FY 1992/93 appropriation of $100, 000 for Phase II
for the "Finding of Necessity", drafting the Redevelopment Plan,
and legal fees and expenses has been spent; and
WHEREAS, it is estimated that an additional $200, 000 is
required to complete Phase II, including the Request for Proposal
process for a new convention hotel and bond counsel fees; and
WHEREAS, funds for such costs are available as a loan from
Resort Tax revenues collected by the City; and,
WHEREAS, in order to properly account for such transactions it
is necessary to appropriate these funds in the General Fund.
NOW THEREFORE BE IT DULY RESOLVED BY THE MAYOR AND CITY
COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, that:
Section 1: The FY 1992/93 General Fund Budget is hereby
reby
amended to provide for an increase of $200, 000 in
the appropriations for the Historic Convention
Village Redevelopment and Revitalization Project.
Section 2 : Resort Tax funds transferred-in and dedicated to
various special projects be increased by $200, 000.
Section 3 : The amount of $200, 000 shall be repaid to the
Resort Tax Fund from future tax increment revenues
collected by the Historic Conventional Village
Redevelopment and Revitalization District.
PASSED and ADOPTED this 8th day of 1,'
AP r 1993 .
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_ayor
ATTEST:
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City Clerk aizaty (J)
FORM APPROVED:
-C /- 2- c3
City Attorney
FUNDING APPROVED
Management and Budget
CITY OF MIAMI BEACH (C
CITY HALL 1700 CONVENTION CENTER DRIVE MIAMI BEACH FLORIDA 33139
OFFICE OF THE CITY MANAGER TELEPHONE: (305) 873-7010
FAX: (305) 673-7712
COMMISSION MEMORANDUM NO. n "] -93
TO: Mayor Seymour Gelber and DATE: April 8 , 1993
Members of the City Commission
FROM: Roger ftitrQi4aA.,,.._.,
City Ma
SUBJECT: A A880LOTIOIi AMENDING THE ?Y 1992/93 GENERAL FUND BUDGET,
BROVIDIl10 FOR AN IIiCRE71BE OF $200,000 Ill 71BBROpRIl1TION8
FOR THE HIBTOjtIC CONVENTION VILLAGE REDEVELOPMENT AND
AEVIT7ILISATI0N AREA PROJECT WITH FUNDS TO BE PROVIDED
FROM A LOAN FROM RESORT TAX REVENUES, TO BE REP7IID KITH
PROJECT AREA TAX IIiCREMEliT REVENUES.
)1DZIIZIIBTRl1TION RBCQMZIBNDl1TIOlis
The Administration recommends that the City Commission adopt the
attached Resolution which amends the FY 1992/93 General Fund Budget
providing for an increase of $200,000 for the Historic Convention
Village Redevelopment and Revitalization Project with funding to be
provided from a loan from Resort Tax proceeds to be repaid from
future tax increment proceeds collected by the City Center/Historic
Convention Village Redevelopment and Revitalization Area.
BACKGROUND:
In February 1992, the City Commission appropriated $150,000 for
Phase I studies and findings of necessity to establish the City
Center/Historic Convention Village Redevelopment and Revitalization
Area (CC/HCVRRA) . Also included in the study was the convention
hotel compatibility analysis, the evaluation and narrowing down of
potential hotel sites, and the CC/HCVRRA concept development.
The City contracted with the urban planning/architectural firm of
Wallace Roberts and Todd for the Phase I study. Total cost for
Phase I, was $85,000. The unused balance of the $150,000 was
returned to its source.
In FY 92/93, $100,000 was appropriated for Phase II - The Finding
of Necessity, bond counsel and drafting of the Redevelopment Plan.
This appropriation has been used as follows:
Wallace Roberts and Todd $ 55,000
Broad & Cassell 42,837
Plan preparation, reproduction,
mailing and other expenses - 3.305
Total $101, 142
1S6
-1- AGENDA �- S
ITEM �
DATE 41-1 3
•
Commission Memorandum
Page Two
ADDITIONAL COSTS:
In order to meet current commitments, pay outstanding invoices,
finalize the establishment of the CC/HCVRRA and proceed with the
RFP process for a new convention hotel, it is estimated that an
additional $200,000 needs to be appropriated for the current year.
Approximately $95,000 of this amount is to cover the anticipated
legal fees of Broad & Cassell, whose services have already been
approved by the City Commission. The following is a list of the
anticipated expense items:
• Initiation of RFP process
• Consultants' fees (RFP preparation and developer
selection process - Phases III & IV)
• Legal Counsel fees & expenses (as noted above)
• Graphics, printing & reproduction
• Publishing
• Advertising & public notices
• Mailing costs/postage
• Surveys and appraisals (possible land acquisition)
• Environmental/market studies (DRI)
• ULI Spring meeting presentation
• Photographs
ANALYSIS:
Once the City Center/Historic Convention Village Redevelopment and
Revitalization Area is in place, the expenses incurred by the City
to establish the district will be reimbursed with tax increment
revenue.
On Tuesday, March 30th 1993, the Board of County Commissioners
unanimously passed a resolution approving the City Center/Historic
Convention Village Redevelopment and Revitalization Area Plan;
delegating certain powers and authority to the City of Miami Beach
and the Miami Beach Redevelopment Agency, in accordance with
Chapter 163 F.S. ; and, approving the interlocal agreement between
the City of Miami Beach and Metro-Dade County. Also, the first
reading of the Redevelopment Trust Fund Ordinance was passed.
The second and final reading of the Trust Fund Ordinance is
scheduled for Tuesday, May 18, 1993. It is anticipated that the
Trust Fund will be in place by January 1994.
CONCLUSION
The City Administration is requesting that:
1. The FY 1992/93 General Fund Budget be amended to provide for an
increase of $200,000 in the appropriations for the Historic
Convention Village Redevelopment and Revitalization Project.
2 . Resort Tax funds in the amount of $200,000 be transferred in and
dedicated to the various special projects account.
3. The amount of $200,000 shall be repaid to the Resort Tax Fund
from future tax increment revenues collected in the Historic
Conventional Village Redevelopment and Revitalization Area.
RMC/HSM:kob:jph
-2- 3.37
RESOLUTION NO. 93-20773
Amendint the FY 1992/93 General Fund
Budget; providing for an increase of
$200,000 to the Historic Convention
Village Redevelopment and Revitalization
Project with funding to be provided f rom
a loan from resort tax revenues to be
repaid from futur tax increment proceeds
collected by the City Center/Historic
Convention Village Redevelopment and
Revitalization Area.
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