487-2004 RDA Reso
RESOLUTION NO. 487-2004
A RESOLUTION OF THE MIAMI BEACH REDEVELOPMENT
AGENCY, APPROPRIATING $6,367,952 IN CITY CENTER!
HISTORIC CONVENTION VILLAGE REDEVELOPMENT AND
REVITALIZATION AREA TRUST FUND REVENUES AND
$2,089,975 IN SOUTH POINTE REDEVELOPMENT AREA TRUST
FUND REVENUES TOWARDS WATER, SEWER, STORM WATER,
STREETSCAPE AND RELATED INFRASTRUCTURE
IMPROVEMENTS IN THE CITY CENTER AND SOUTH POINTE
REDEVELOPMENT AREAS, AS WELL AS TO FUND PROGRAM
MANAGEMENT FEES AND CONSTRUCTION MANAGEMENT
FEES ASSOCIATED WITH SAID IMPROVEMENTS, ALL IN
ACCORDANCE WITH CHAPTER 163.387(7)(a), FLORIDA
STATUTES.
WHEREAS, pursuant to Chapter 163.387(7)(a), Florida Statutes, on the last day of the fiscal
year of the Redevelopment Agency, any money which remains in the Redevelopment Trust Fund
after payment of expenses, shall be returned to the taxing authority; and
WHEREAS, at present, the City Center/Historic Convention Village Redevelopment and
Revitalization Area (City Center) is estimated to have $6,367,952 in unencumbered Trust Fund
revenues to appropriate towards improvements in City Center and the South Pointe Redevelopment
Area (South Pointe), an estimated $2,089,975 for projects located within its boundaries; and
WHEREAS, the Executive Director recommends appropriating $6,367,953 from City Center
and $2,089,975 from South Pointe toward redevelopment area planned improvements, including,
but not limited to, storm water, water, sewer, streetscape and related infrastructure improvements in
the respective areas; and
WHEREAS, as future funds become available in the respective City redevelopment areas,
additional funding will be appropriated, as needed, toward infrastructure and other planned and/or
contemplated improvements, thereby freeing up much needed revenues for other parts of the City.
NOW, THEREFORE, BE IT DULY RESOLVED BY THE CHAIRMAN AND MEMBERS OF
THE MIAMI BEACH REDEVELOPMENT AGENCY, that the Chairman and Members hereby
appropriate $6,367,952 in City Center/Historic Convention Village Redevelopment and
Revitalization Area Trust Fund Revenues and $2,2089,975 in South Pointe Redevelopment Area
Trust Fund Revenues towards water, sewer, storm water, streetscape and related infrastructure
improvements in the respective City Center and South Pointe Redevelopment Areas, as well as to
fund program management fees and constructio management fees associated with said
improvements, all in accordance with Chapter 163 8 (7)(a), Florida Statutes.
PASSED AND ADOPTED THIS 28TH D YO
APPROVED AS TO
FORM & LANGUAGE
& FOR EXECUTION
A~~
SECRETARY
j) AA IN" 2AA~ '1- y].. - () if
I~ Dale
REDEVELOPMENT AGENCY
COMMISSION ITEM SUMMARY
m
Condensed Title:
A Resolution of the Chairman and Members of the Miami Beach Redevelopment Agency, appropriating
$6,367,952 in City Center Trust Fund Revenues and $2,089,975 in South Pointe Trust Fund Revenues
towards water, sewer, storm water, streetscape and related infrastructure improvements in the City Center
and South Pointe Redevelo ment Areas, in accordance with Cha ter 163.387 7 a, Florida Statutes.
Issue:
Shall the RDA appropriate unencumbered Trust Fund Revenues towards water, sewer, storm water,
streetscape and related infrastructure improvements in the City Center and South Pointe Redevelopment
Areas, respectively?
Item Summa IRecommendation:
At present, City Center is estimated to have $6,367,952 in unencumbered Trust Fund revenues to
appropriate towards storm water, water, sewer and related infrastructure improvements in the City Center
area. South Pointe has an estimated total of $2,089,975 to appropriate towards improvements in its area.
Pursuant to Chapter 163.387(7)(a), Florida Statutes, on the last day of the fiscal year of the
Redevelopment Agency, any money which remains in the Trust Fund after payment of expenses, shall be
returned to the taxing authority. As such, the Administration recommends appropriating $6,367,952 from
City Center and $2,089,975 from South Pointe towards storm water, water, sewer and related infrastructure
im rovements in the res ective areas.
Advisory Board Recommendation:
IN/A
Financial Information:
Source of
Funds:
~
L:J
Finance Dept.
Account
City Center
South Pointe
Approved
Ci Clerk's Office Le islative Trackin
Christina M. Cuervo/Kent O. Bonde
SI n-Offs:
Department Director
City Manager
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AGENDA ITEM
DATE
3D
9-Af--Or;
/
CITY OF MIAMI BEACH
CITY HALL 1700 CONVENTION CENTER DRIVE MIAMI BEACH, FLORIDA 33139
www.ci.miamibeachfl.gov
REDEVELOPMENT AGENCY MEMORANDUM
To:
From:
Chairman and Members of the Board
Miami Beach Redevelopment Agency
1 --
Jorge M. Gonzalez .,r-~
Executive Director (
Date: September 28, 2004
Subject:
A RESOLUTION OF THE CHAIRMAN AND MEMBERS OF THE MIAMI
BEACH REDEVELOPMENT AGENCY, APPROPRIATING $6,367,952 IN
CITY CENTER TRUST FUND REVENUES AND $2,089,975 IN SOUTH
POINTE TRUST FUND REVENUES TOWARDS WATER, SEWER,
STORM WATER, STREETSCAPE AND RELATED INFRASTRUCTURE
IMPROVEMENTS IN THE CITY CENTER AND SOUTH POINTE
REDEVELOPMENT AREAS, RESPECTIVELY, IN ACCORDANCE WITH
CHAPTER 163.387(7)(a), FLORIDA STATUTES.
RECOMMENDATION:
Adopt the Resolution.
ANALYSIS:
Pursuant to Chapter 163.387(7)(a), Florida Statutes, on the last day of the fiscal year of the
Redevelopment Agency, any money which remains in the Trust Fund after payment of expenses,
shall be returned to the taxing authority. At present, City Center is estimated to have $6,367,952
in unencumbered Trust Fund revenues to appropriate towards improvements in City Center and
South Pointe an estimated $2,2089,975 for projects located within its boundaries. As such, the
Administration recommends appropriating $6,367,953 from City Center and $2,089,975 from
South Pointe towards redevelopment area planned improvements, including, but not limited to,
storm water, water, sewer, streetscape and related infrastructure improvements in the respective
areas. As future funds become available in the redevelopment areas, additional funding will be
appropriated as needed towards infrastructure and other planned and/or contemplated
improvements, thereby freeing up much needed revenues for other parts of the City.
City Center
Est. Trust Fund Sal as of 8/31/04
Less: Outstanding obligations through 9/30/04
Less: Outstanding appropriations
$34,071,039
($ 7,092,712)
($20,610,375)
Total Appropriation:
$ 6.367.952
South Pointe
Est. Trust Fund Sal as of 8/31/04
Less: Outstanding obligations through 9/30/04
Less: Outstanding appropriations
$33,481,761
($ 3,545,167)
($27,846,619)
Total Appropriation:
$ 2.089.975
September 28, 2004 .
Redevelopment Agency Memorandum
Year-end Appropriation Memo
Page 2 of 2
RECOMMENDATION:
It is recommended that the Redevelopment Agency adopt the attached Resolution appropriating
the funds.
JMG/CLS
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