99-23322 RESO
RESOLUTION NO. 99-23322
A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY
OF MIAMI BEACH, FLORIDA, APPROPRIATING THE AMOUNT OF
$1,795,000 FOR FUNDS REQUIRED TO OPERATE THE 7TH STREET AND
COLLINS AVENUE PARKING GARAGE FOR FISCAL YEAR 1999-2000,
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 operation; and
WHEREAS, an appropriation of funds for the Fiscal Year 1999-2000 Budget,
in the amount of $747,765.00, is necessary to pay for the operating expenses of the
Garage; and
WHEREAS, an appropriation of funds is also necessary to repay the
proportionate share of the Gulf Breeze Loan Pool debt service which was used, in part,
to fund the construction of the Garage; and
WHEREAS, surplus revenues will be deposited in the Special Revenue Fund
to assure proper preventive maintenance, and the structural integrity of the Garage.
NOW, THEREFORE, BE IT DULY RESOLVED BY THE MAYOR AND
CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, that the
Mayor and City Commission appropriate the amount of$I,795,000 for funds required
to operate the 7th Street and Collins Avenue Garage, for Fiscal Year 1999-2000 and
also to repay the proportionate share of the Gulf Breeze Loan Pool debt service.
PASSED AND ADOPTED this 22nd day of September, 1999.
I/4L
MA YOR
ATTEST:
APPROVED AS TO
FORM & LANGUAGE
& FOR EXECUTION
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CITY CLERK
F.- IPINGI$MANV/MlCOMMISS/1990922IRES7THST WPD
1trty~ ~,
FY 99/00 BUDGET FY 98/99 BUDGET
VARIANCE
34404
$1,795,000
$1,635,000
$160,000
...
TEMPORARY LABOR 000311 $0 $0 $0
MEDICARE 000165 $0 $0 $0
F.I.C.A. 000166 $0 $0 $0
PROFESSIONAL SERVICES 000312 $495,000 $430,000 $65,000
ELECTRICITY 000314 $30,000 $33,600 ($3,600)
TELEPHONE 000316 $250 $250 $0
WATER 000317 $3,990 $3,990 $0
SEWER CHARGES 000318 $700 $1,575 ($875)
SANITATION FEES 000319 $10,000 $10,000 $0
ADMINISTRATION FEES 000322 $53,850 $49,050 $4,800
PRINTING 000324 $10,000 $10,000 $0
CONTRACT MAINTENANCE 000325 $105,900 $131,000 ($25,100)
STORM WATER 000329 $2,100 $2,100 $0
OFFICE SUPPLIES 000341 $300 $300 $0
REPAIR/MAl NTENANCE 000342 $25,800 $25,800 $0
OTHER OPERATING EXPENSES 000343 $8,600 $8,600 $0
DISCOUNTS EARNED 000398 $475 $0 $475
INTERNAL SERVICE - CENTER 000501 $300 $475 ($175)
INTERNAL SERVICE - COMMUNICATIONS 000504 $500 $300 $200
FURNITURE & FIXTURES 000671 $0 $500 ($500)
MACHINERY/EQUIPMENT 000674 $0 $0 $0
TOTAL OPERATING EXPENSES $747,765 $707,540 $40,225
DEBT SERVICE 000720 $630,000 $660,000 ($30,000
TOTAL EXPENSES AND DEBT SERVICE $1,377,765 $1,367,540 $10,225
NET REVENUE $417,235 $267,460 $149,775
328
CITY OF MIAMI BEACH
CITY HALL 1700 CONVENTION CENTER DRIVE MIAMI BEACH, FLORIDA 33139
htlp:\\ci.miami-beach. fl.us
COMMISSION MEMORANDUM NO. IOD-t::t'1
TO:
Mayor Neisen O. Kasdin and
Members of the City Commission
DATE: September 22, 1999
SUBJECT: A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE
CITY OF MIAMI BEACH, FLORIDA, APPROPRIATING THE AMOUNT
OF $1,795,000 FOR FUNDS REQUIRED TO OPERATE THE 7TH STREET
AND COLLINS A VENUE PARKING GARAGE FOR FISCAL YEAR 1999-
2000, AND ALSO REPAY THE PROPORTIONATE SHARE OF THE GULF
BREEZE LOAN POOL DEBT SERVICE.
FROM: Sergio Rodriguez
City Manager
ADMINISTRATION RECOMMENDATION:
Adopt the Resolution.
BACKGROUND:
The funding for the construction of the 7th Street and Collins A venue 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.
ANALYSIS:
See the attached breakdown of projected expenses for Fiscal year 1999-2000 for the 7th Street and
Collins Avenue Garage.
CONCLUSION:
The operating budget in the amount of$1,795,000 is required to cover the operating expenses and
debt service for the 7th Street and Collins Avenue parking garage for the Fiscal Year 1999-2000.
In the event of any shortfall, the difference shall be made up by funds from excess parking revenues.
Y!K 0fIV IE;
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