395-2001 RDA
RESOLUTION NO. 395-2001
A RESOLUTION OF THE CHAIRMAN AND MEMBERS OF
THE MIAMI BEACH REDEVELOPMENT AGENCY
ADOPTING OPERATING AND CAPITAL BUDGETS FOR
THE SOUTH POINTE AND CITY CENTER
REDEVELOPMENT AREAS FOR FISCAL YEAR 2001/02.
WHEREAS, the proposed South Pointe and City Center Redevelopment Area
budgets have been prepared to coincide with the overall City budget process; and
WHEREAS, the proposed South Pointe and City Center Redevelopment Area
budgets reflect anticipated construction project costs in addition to operating and debt
service costs for the fiscal year.
NOW, THEREFORE, BE IT DULY RESOLVED BY THE CHAIRMAN AND
MEMBERS OF THE MIAMI BEACH REDEVELOPMENT AGENCY, that the Board hereby
adopts the operating budgets for the South Pointe and City Center Redevelopment Areas
for Fiscal Year 2001/2002, attached as Exhibit "A" hereto.
PASSED AND ADOPTED THIS SEPETMBER 10tli, DAY OF 2001.
ATTEST:
Jibd p~
SECRETARY
APPROVED AS TO
FORM. LANGUAGE
& FOR EXECUTION
MIAMI BEAC!,! REDEVELOPMENT AGENCY
Propooed Budget 01/02
City Center Redevelopment Area
Revenues and Other Operating Debt Construction
Sources of Income Fund Service Fund
Opening Balance
968 Series Bond funds 4,040,644
98B Series Bond funds 6,092.969
Tax Increment - City 6.506,444
Tax Increment. County 5,057,245 .5,057,245
50% Contribution from Resort Tax (1%) 2,676,000
Interest Income 400.000 550,000
Loews Hotel Rent Revenue 500,000
Royal Palm Ground Lease 490.000
Anchor Garage Operations (1) 1,683,782
Anchor Garage card deposits 5,306
Anchor Shops - Lease Revenue (2) 641,484
Other Operating Transfers In 4,616.669 722,190
Fund Balance Carryover
Total Revenue 17,560,261 10,073,914 11,405,803
Operating Debt Construction
Operating Expenses Fund service Fund
Management,Fee 414,000
Advertising & Promotion 3,000
Postage & Mailing 3,000
Printing 3,000
Office Supplies & Equipment 5.000
Meetings & Conferences 2,000
Dues & Subscriptions 1.000
Audit Fee 4,000
Professional & Related Fees 50,000
Miscellaneous Expenses 15,000
Total Operating Expenses 500,000
Projects
Anchor Garage wI sales & property taxes 688.276
Anchor Garage Facility UsolUsage fee (4) 53,114
Anchor Shops Mgt Fee & Related Exp 125,000
Beachwalk Project 3,000,000
City Center Stroetscape-2Oth SI. 150.000
Collins Park Improvements 1,600,000
Colony Theater 1,415.000
Cultural Campus Acquisition Legal Fees 50,000
Lincoln Rd Capilal Cost (3) 5,000,000
Royal Palm Crowne Plaza (5) 300.000
StroetEnds-17\h118th SI. 550,000
Streetscape & Other Projects 4.640,803
Total Projects 6,166,392 11,405,803
Transfers and Debt Service Payments
Debt SelViee Cost - 96B & 98B Bonds 9,351,724
Current Debt SelViee. Uncoln Rd Project (6) 1,219.955
Transfer County TIF to. Debt Svc Fund 5,057,245
Transfer to - Debt Sve Fund 4,616,669
Transfer to Construction Fund 722,190
Total Transfers 10,893,869 10,073,914
Total Expenditures & Transfers 17,560,261 10,073,914
Excess (Deflclency) (OJ
Note #1 F'rlor to deductions for sales tax and Easement Agreement profit sharing
Note #2 Retalll&ase revenue, net of management fee & related expenses
Note #3 Repayment of Lincoln Road capital costs to City Funds at F'rlme Rate.
Note #4 Facility Usage Fee per Easement Agreement
Note #5 Legal/settlement costs - contamination related hard costs and delay claims
Note #6 Current debt selVlce for Sunshine state loan for Uncoln Rd.
09/06/2001
CITY CENTER REDEVELOPMENT AREA
Created in 1993
332 Acres
MIAMI BEACH REVELOPMENT AGENCY
CITY CENTER
Mission
~ To assure continued economic viability of the area and the City as a whole.
~ To incur minimum relocation and condemnation.
~ To involve community residents in the redevelopment process.
~ To establish the necessary linkages to tie in the Convention Center, area hotels, cultural
amenities, entertainment, residential and business uses in the district.
~ To enhance diversity of form and activity through the use of established planning and design
principles.
~ To create a traffic system to serve local and through traffic needs.
~ To recognize the historic structures and designations within the historic districts and facilitate
development accordingly.
Maior AccomDlishments
The 332-acre City Center/Historic Convention Village Redevelopment and Revitalization Area
(CC/HCVRRA) was established in 1993, In order to ensure public participation in the creation of
the plan for the area, the City of Miami Beach created a Citizens Advisory Technical Committee
to provide input and stakeholder participation in the process. A series of public meetings and
workshops were held as well as one-on-one sessions with key members of the Historic
Preservation community, the business community, and area residents, resulting in an
unprecedented community consensus-building effort.
Although relatively new by comparison to the South Pointe Redevelopment Area, the City Center
Redevelopment Area is already undergoing dynamic change through a combination of public
and private investment initiatives.
Exciting projects in the area include the Loews Miami Beach Hotel, an 800-room convention
headquarter hotel on an Agency-owned site located at Collins Avenue and 16th Street; the
construction of the Royal Palm Crowne Plaza Resort, the first African-American owned hotel in
the United States, which is being built on an Agency-owned parcel; the completion of an 800-
space public parking garage to accommodate the parking needs for the Loews Miami Beach
Hotel, the African-American Hotel and other service and retail businesses in the area; an $18
million overhaul of Lincoln Road, partially funded with the participation of businesses on Lincoln
Road; design and engineering work for the extension of the beachwalk from 21st Street to
Lummus Park; and implementation of a Cultural Arts Campus Master Plan for an area east of
the Miami Beach Convention Center, which will include a new regional library, a parking facility,
the recentiy completed new home for the Miami City Ballet, an expansion and renovation of the
Bass Museum of Art, and the re-landscaping of Collins Park. Other important projects underway
include the restoration and renovation of the Colony Theater and a master planning study
underway by Zyscovich, lnc" which will serve as a basis for updating the existing City Center
Redevelopment Plan, One of the primary objectives of the study, is to address future
development of the 17'" Street surface parking lots, taking into consideration the expansion
needs of the New World Symphony,
The City and Redevelopment Agency's commitment to upgrading and improving the area's infra-
structure, addressing parking and circulation issues, and facilitating new development has
already prompted significant new private-sector investment in the area, Some of these projects
include II Villagio and 1500 Ocean Steps, two luxury condominium/retail developments on
Ocean Drive and 15th Streets and LRI/Finestra's 18-screen movie theater/retail complex located
on the corner of Alton and Lincoln Roads. The redevelopment area has also seen the recent
major renovation of several significant hotels including the Delano, the National, the Sagamore,
the DiLido and some others underway,
Goals and Obiectives
~ Facilitate completion of the Royal Palm Crowne Plaza Resort (African-American hotel
project),
~ Monitor/oversee development of Cultural Arts Complex Master Plan (regional library, 400-
space parking facility and park and streetscape improvements).
~ Facilitate construction of Lincoln Place and Lincoln Plaza (two mixed-use parking facilities
with ancillary retail and commercial/office space).
~ Coordinate/administer construction of Beachwalk extension project, between 21 st Street and
Lummus Park.
~ Coordinate construction of streetends between 17th and 23rd Streets.
~ Coordinate design and construction involved with the restoration of the Colony Theater.
~ Coordinate master planning and development of the 17'h Street surface parking lots
~ Update City Center Master Plan based on study underway by Zyscovich, Inc.
~ Oversee Anchor Shops retail leasing and property management through Miami Beach
Community Development Corporation (MBCDC).
~ Administer Development and/or Lease Agreements with St. Moritz Hotel Corp, RDP Royal
Palm Hotel, LId" and the Management Agreement with Quik Park for the operation of the 16'h
Street Garage.
Performance Measurements
1. Achieve completion of Royal Palm Crowne Plaza Hotel and resolution of outstanding
contamination and delay-related claim issues.
2. Complete design and initiate development of 17'h Street Lots in accordance with approved
plans prepared by Zyscovich, Inc,
3. Revise City Center Redevelopment Plan based on updated Master Plan by Zyscovich, Inc.
4, Complete design and commence restoration of the Colony Theater
5. Initiate construction of 17'h, 18'h and 20'h Street street-ends, subject to phasing of Collins
Avenue reconstruction.
6. Initiate construction of Beachwalk project, subject to resolution of legal appeals process.
7, Maintain 100% lease-out of the Anchor Shops and continue to provide responsive property
management through MBCDC.
8, Continue monitoring/administering Ground Lease Agreements with Loews and RDP Royal
Palm and Management Agreements with MBCDC for the Anchor Shops and Quick Park for
the Anchor Garage.
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Following two years of steady growth, the taxable value of property in City Center experienced
a 47 percent increase in FY 99/00, The significant jump in value may be attributed to certain new
large scale projects coming on line, including but not limited to the Loews Miami Beach Hotel, the
Anchor Shops and Parking Garage, II Viii agio, 1500 Ocean Steps and the South Beach 18-
screen movie theater on Lincoln Road, As new hotel, residential and commercial developments
come on line over the next few years, the tax increment for the City Center Area is anticipated to
continue growing steadily. This trend is supported by an estimated 16.3 percent increase in
property values for FY 00/01 and a 17.2 percent increase for FY 2001/02
Tax Increment Financing (TIF) through the sale of bonds has been a major tool for financing
redevelopment activities. To date, three bond issues have occurred in City Center: one in 1994
for $25 million, to acquire land for the hotel development initiative; one in 1996, in the
amount of $43.2 million to fund contractual obligations and capital improvements related to the
Loews Hotel and African-American Hotel projects; and, one in 1998, in the amount of $38.2
million to finance capital expenditures related to the convention hotel projects, the Cultural
Campus project and to repay the $21.5 million debt obligation to the City.
When the bond issues were done initially, Resort Tax was used as a secondary pledge to pay
the debt service. Due to the significant growth in tax increment since its inception, City Center
not only no longer relies on resort tax to meet its debt service obligations, but has also
reimbursed Resort Tax with interest, for a total of $2.4 Million. In FY 2001/02, City Center will
pay $5 million towards capital costs for Lincoln Road, which also includes interest, calculated
against a principal amount of $11,5 million, (borrowed from the Gulf Breeze Loan Pool), City
Center will also begin assuming debt service payments on the Gulf Breeze, which previously was
being paid for using water, sewer, storm water, gas and resort tax,
F:\DDHP\AlI\RDA\RDA_Bud\CMBBudgets\Cityeenler0102narr.doc
MIAMI BEACH REDEVELOPMENT AGENCY
Proposed Budget 01/02
South Polnte Redevelopment Area
Revenues and Other Operating Debt Construction
Sources of Income Fund Service Fund
Opening BalMea
South Points Streets cape Appropriation 4,919,285
Park Improvements Appropriation 50,000
Tax increment - City 5,490,232
Tax increment - County 4,267,377 4,267,377
Marina Rental 200,000
Portofino Local Impacts 92,000
Interest Income 100,000
Operating Transfers In 5,372,232 8,766,828
Capital Project Funds
Fund BalMce Carryover
Total Revenue 10,149,609 9,639,609 13,736,113
Operating Debt Construction
Operating Expenses Fund Service Fund
Management Fee 414,000
Advertising & Promotion 2,500
Postage & Mailing
Printing 6,000
Office Supplies & Equipment 2,500
Meetings & Conferences 5.000
Dues & Subscriptions 2,000
Audit Fee 1,000
Professional & Related Fees 4,000
MiscellS"leous Expenses 63,000
Total Operating Expenses 500,000
Projects
Baywalk 500,000
Beach Master Plan
South Pointe Streets cape 4,919,285
South Pointe Park (P&R) 50,000
Washington Park (P&R)
Community Garden (P&R)
The Courts/Cobb
1st -2nd Street_cape 300,000
Ubrary 375,000
Courts Total 675,000
Portofino Settlement
Marina Valet Parking
Marques Utility Relocation
Pump Station Removal 1,000,000
Seawall 500,000
SSDI N-Murano Gr. Environ Med
SSDI N-Murano Gr. Parking 500,000
SSDI N-Murano Gr. Utility Relocation 1,250,000
SSDI N-A1aska Temp Parking 243,000
SSDI S-Utility Relocation 233,284
SSDI S-Murano Parking 625,000
Washington Avenue Extension
Yacht Club CAM 84,000
Lagal Fees 10,000
Portofino Total 10.000 4,435,284
Other Projects 3,156,544
Total Project Costs 10,000 13,736,113
Transfers and Debt Servl.. Payments
Debt Service Cost 872,781
Transfer County TiF to - Debt SVc Fund 4,267,377
TrMsfer to - Debt SVc Fund 5.372,232
Transfer to Construction Fund 8,766.828
Total Transfers 9.639,609 9,639,609
Total expenditures & Transfers 10.149,609 9,639,609 13,736,113
Excess (Deficiency)
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SOUTH POINTE REDEVELOPMENT AREA
Created in 1973
210 Acres
MIAMI BEACH REVELOPMENT AGENCY
SOUTH POINTE
Mission
" To assure continued economic viability of the area and the City as a whole,
" To incur minimum relocation and condemnation,
" To involve community residents in the redevelopment process.
" To establish the necessary linkages to tie in the new luxury residential and commercial
developments, area hotels, cultural and recreationai amenities, entertainment, residential and
business uses in the district.
" To enhance diversity of form and activity through the use of established planning and design
principles.
" To create a traffic system to serve local and through traffic needs.
" To recognize the historic structures and designations within the historic districts and facilitate
development accordingly.
Malor AccomDlishments
The area, originally designated in 1973 as the South Shore Redevelopment Area, was later
renamed "South Pointe." This 210-acre area contains several important components. The Marina
area, from Fifth Street to South POinte Drive (formerly known as Biscayne Street) west of Alton
Road, includes the Miami Beach Marina, which contains a core building and a 400-slip marina,
Utilizing TIF funds, a three-block, mixed-use residential development was initiated by the Agency.
Through an RFP process, Cobb South Beach Properties Ltd" was selected as the developer of
this major project, calied the Courts of South Beach. Phase I was completed in 1996 and
subsequent phases are currently underway.
As a result of the South Pointe Study, prepared by the University of Miami School of Architecture,
The City of Miami Beach adopted substantial amendments to the Performance Standards District
(Chapter 20) of the Zoning Ordinance in 1994 and 1998, In furthering these regulations, The City
has approved in concept draft design guidelines prepared by Duany Plater Zyberk (DPZ),
Architects and Town Planners. In 1996, the Ocean Beach Historic District staff worked with DPZ
to refine these guidelines and incorporate them into a zoning overlay district.
During the fiscal year 1999, a Streetscape Concept Plan for South Pointe was adopted. In
February, 1999, a contract was awarded to Kimley Horn & Associates to begin implementation of
the streetscape improvements, based upon the DPZ concept plan, Phase I of the streetscape
improvements, comprising Third Street, Washington Avenue, and its extension in the South
Pointe Park broke ground in Summer, 2000, and is expected to be competed in 7 months, The
other four phases of the project are scheduled for completion by 2004. The South POinte Advisory
Board, comprised of residents and business owners in the area, maintain an ongoing participation
in this project, reviewing and making recommendations to the RDA Board through the various
phases,
Goals and Oblectives
" Interface with the Ocean Beach Historic District created in 1996.
" Facilitate the opening of a new library in South Pointe,
" Continue to implement the streetscape improvements in the area, including new water, storm
water and drainage systems, milling and surfacing of roadways, construction of new
sidewalks, landscaping, irrigation and new street lighting and the installation of an interactive
fountain at the south end of Washington Avenue, by the Government Cut walkway,
~ Coordinate the construction of the Community Garden on Collins Avenue.
~ Continue the Courts of South Beach project and related streetscapes,
~ Coordinate the implementation of the South Pointe Park Master Plan, with the Parks and
Recreation Department.
~ Coordinate G.O. Bond projects within the district.
~ Facilitate and coordinate the pre-construction activities for the Murano and Murano Grande
projects, including but not limited to the relocation of public utility lines from the SSDI-North
parcel into the public right-of-way along the Marina, the relocation of the Alton Road median
to allow construction staging, the construction of a temporary surface parking lot for the
Marina operator until the parking garage is completed, the remediation of environmental
contamination in the SSDI-North parcel, and the restoration/rehabilitation of the seawall along
the Marina at the SSDI-North and SSDI-South parcels.
~ Facilitate the construction of a booster pump station on Alton Road, currently under design by
CDM Engineering and Zyscovich, Inc. Architects.
Performance Measurements
1. Achieve completion of Phase I construction of the streetscape improvements project and
resolution of outstanding delay-related claim issues by:
a. Monitoring progress through completion,
b, Facilitating construction coordination with the private developments and utility companies
working in the area,
c. Negotiating with the City's contractor discrepancies related to existing conditions, design
and scope of work, and
d. Negotiating with the City's designer discrepancies related to levels of design.
2, Implement Phase II design of the streetscape program by:
a. Issuing an RFP for prospective design teams,
b, Entering into a design contract,
c, Submitting design development drawings for input to the South Pointe Advisory Board,
the Planning Board, and the community, and
d. Addressing the existing encroachments into the public right-of-way, the on-street parking
configuration and existing landscaping as important elements during the design phase,
3. Continue administering the South Pointe Advisory Board by:
a. Coordinating at least twelve monthly meetings per year,
b, Presenting in front of the Board all issues affecting the district for their input and
recommendation, and
c. Maintaining open channels of communication with the Board members.
4, Maintain active communication with the community by:
a. Scheduling regular public workshops,
b. Posting updated reports in the City's web page,
c. Maintaining active personalized customer service via e-mail, phone and mail, and
d, Coordinating meetings with the residents being affected by the ongoing construction
activities.
5, Administer the Agency's existing obligations from the Portofino Settlement Agreement
obligations by:
a. Coordinating the pre-construction activities through the City's Program Manager,
b. Monitoring the Agency's funding obligations,
c, Facilitating construction coordination between the Developer, the Marina operator and
the City.
6. Implement the design and construction of the Community Garden by:
a. Entering into a design contract,
b. Coordinating at least two meetings with the community for design input/output, and
c. Initiating construction of the project.
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In South Pointe, the taxable value of property experienced a moderate 12.2 percent increase in
FY 99/00. Projections call for an estimated 28 percent increase in FY 00/01, as new luxury
residential and commercial properties such as the Yacht Club at Portofino come on line. For FY
2001/02, values are estimated to increase by a more moderate 14.4 percent, since additional
new projects are not anticipated to impact the tax roles until the following year.
F:\DDHP\AlI\RDA\RDA_Bud\CMBBudgets\SPOINTE0102NARRDQC
CITY OF MIAMI BEACH
CITY HALL 1700 CONVENTION CENTER DRIVE MIAMI BEACH, FLORIDA 33139
WNW .ci.miami-beach.fl.us
REDEVELOPMENT AGENCY COMMISSION MEMORANDUM
To:
Chairman and Members of the
Miami Beach Redevelopment Agency
Date: Septernber20, 2001
From:
Jorge M, Gonzalez
Executive Director
6~
Subject:
A RESOLUTION OF THE CHAIRMAN AND MEMBERS OF THE MIAMI
BEACH REDEVELOPMENT AGENCY ADOPTING OPERATING AND
CAPITAL BUDGETS FOR SOUTH POINTE AND CITY CENTER
REDEVELOPMENT AREAS FOR FISCAL YEARS 2001/02.
ADMINISTRATION RECOMMENDATION:
Adopt the Resolution.
ANALYSIS
The proposed budgets for South Pointe and City Center Redevelopment Areas for Fiscal
Year 01/02 have been prepared to coincide with the overall City budget process, and are
being presented today to assist in providing a comprehensive overview of the two districts.
Following two years of moderate growth, the taxable value of property in City Center
experienced a 45.5 percent increase in FY 99/00. The significant jump in value may be
attributed to certain new large scale projects coming on line, including but not limited to the
Loews Miami Beach Hotel, the Anchor Shops and Parking Garage, II Villagio, 1500 Ocean
Steps and the South Beach 18-screen movie theater on Lincoln Road. As new hotel,
residential and commercial developments come on line over the next few years, the tax
increment for the City Center Area is anticipated to grow steadily. This forecasted trend is
supported by a 14.1 percent increase in property values projected for FY 01/02.
In South Pointe, the taxable value of property experienced a 9.3 percent increase in FY
00/01. For FY 01/02, values are estimated to increase by 14.4 percent, since additional
new projects are now impacting the tax roles.
In the City Center RDA, the increase in tax increment coupled with the income stream from
the Loews Hotel ground lease and operation of the Anchor Shops and Parking has allowed
the RDA to repay Resort Tax funds used to pay existing debt service obligations from the
1993 and 1996 bond issues. It is anticipated, that as a result of the Resort Tax supplement
being repaid, tax increment funds (TIF) have become available to repay the Lincoln Road
Capital cost and the Debt Service cost by more that $6 million. Additionally, TIF will
continue to be utilized to address much needed infrastructure improvements in the area,
AGENDA ITEM 81+
DATE 't-:JO-() I
September 21,2001
Commission Memorandum
RDA - City Center Redevelopment Budget
Page 2 of 3
including but not limited to streetscaping, landscaping and parking.
During the course of the next fiscal year, the RDA will continue to address the following
projects by area:
South Pointe:
. Implementation and construction coordination of Phase I and Phase II street
improvements in South Pointe, based on the Master Plan and design by Duany Plater
Zyberk.
. Coordination and implementation of a sculpture to be installed in the plaza located at
Washington Avenue and 3rd Street. This is a coordinated effort to tie in the GO Bond
project and Art-in-Public Places.
. Design and relocation of the South Pointe Community Garden.
. Coordination of improvements and other obligations as part of the Settlement
Agreement between the Redevelopment Agency and the Portofino Group, relative to
the development of the Miami Beach Marina (SSDI North and South). This includes but
is not limited to utility relocations, public easements, baywalk, and construction of
parking facilities.
City Center:
. Construction of the Miami Beach Regional Library and renovation of the Library
Rotunda as public performance space.
. Renovation of the historic Colony Theater
. Implementation and construction coordination of the street-end improvements to 17th
and 18th Streets, to be completed subsequent to the Collins Avenue improvements
ongoing for the area.
. Implementation and construction coordination of the Beachwalk project, connecting
Lummus Park with the terminus of the existing wooden boardwalk at 23rd Street.
. Continued operation and maintenance of the Anchor Shops and Parking Garage.
. Coordinating master planning and development of the 17th Street surface parking lots.
. Continuing to oversee leases and coordinate tenant improvements in the Anchor
Shops.
September 21,2001
Commission Memorandum
RDA - City Center Redevelopment Budget
Page 3 of 3
. Coordinating and facilitating completion of construction and opening of the Royal Palm
Crowne Plaza Resort Hotel Project.
. Coordinating and facilitating the construction of the Lincoln Plaza and Lincoln Place
projects.
. Administering Management and/or Lease Agreements with Loews, RDP Royal Palm
Hotel, Ltd., Quik Park and the Retail Manager for the Anchor Shops.
It should be noted that in accordance with the Interlocal Agreement between Miami-Oade
County and the City of Miami Beach, administrative costs remain capped at $500,000 in
City Center. In South Pointe, administrative costs have been reduced by 3 percent from
last year's budget, from $818,430 to $793,430. Proposed Capital expenditures in both
districts are based on anticipated/projected costs associated with completing certain
existing projects and undertaking new development activity in the area.
In order to address these existing and future obligations, it is recommended that the
Redevelopment Agency adopt the attached resolution which establishes operating budgets
for South Pointe and City Center Redevelopment Areas for FY 01/02
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