98-23007 RESO
RESOLUTION NO. 98-23007
A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE
CITY OF MIAMI BEACH, APPROVING THE STREETSCAPE PROJECT
FOR WASHINGTON AVENUE; PROVIDING FOR A LOAN OF $1,966,150
FROM THE RESERVE FOR CAPITAL IMPROVEMENTS IN THE
GENERAL FUND TO CAPITAL PROJECTS FUND 301; DECLARING THE
OFFICIAL INTENT OF THE CITY TO ISSUE BONDS IN ORDER TO
REIMBURSE ITSELF FROM THE PROCEEDS OF SUCH BONDS FOR
FUNDS ADVANCED BY THE CITY FOR CERTAIN EXPENSES
INCURRED WITH RESPECT TO SAID PROJECT; APPROPRIATING SAID
AMOUNT OF $1,966,150, TOGETHER WITH $299,630 RECEIVED FROM
THE MIAMI BEACH REDEVELOPMENT AGENCY FROM THE
REDEVELOPMENT TRUST FUND FOR THE SOUTH POINTE
REDEVELOPMENT AREA AND $296,641 FROM THE REDEVELOPMENT
TRUST FUND FOR THE CITY CENTER/HISTORIC CONVENTION
VILLAGE REDEVELOPMENT AREA, $284,877 OF PROCEEDS OF THE
RESORT TAX, AND $311,467 FROM BOND FUND 351, FOR THE PURPOSE
OF IMPLEMENTING SAID PROJECT; AND PROVIDING AN EFFECTIVE
DATE.
WHEREAS, the Mayor and City Commission of the City of Miami Beach, Florida (the
"City"), have determined that it is in the best interests of the City to improve Washington Avenue
between 5th Street and 16th Street by the construction and installation of a streetscape project, which
shall include, but not be limited to the construction, reconstruction and replacement of water and
sewer lines, sidewalks, streets and medians, and the landscaping (including an irrigation system)
along said portion of Washington Avenue, including architectural, engineering, financing, legal and
other incidental costs in connection therewith (the "Project"); and
WHEREAS, the Miami Beach Redevelopment Agency ("RDA"), has appropriated $299,630
from the Redevelopment Trust Fund for the South Pointe Redevelopment Area and $296,641 from
the Redevelopment Trust Fund for the City CenterIHistoric Convention Village Redevelopment Area
for said Project and appointed the City as its agent for the implementation of its portion of the
Project; and
WHEREAS, a portion of the Project will be paid for with moneys derived from the Resort
Tax in the amount of$284,877, and from moneys in Bond Fund 351, in the amount of$311,467; and
WHEREAS, it is the intention of the City to finance a portion of the Project by issuing tax-
exempt revenue bonds (the "Bonds"), and the City has incurred and expects to incur expenses for
F:\AllU\LEVLlBOND8\W ATERIREIMBURI.RES
December II, 19911 (lO:37am)
which the City has advanced and will advance internal funds in anticipation of the issuance of said
Bonds; and
WHEREAS, to the extent permissible under the Internal Revenue Code of 1986, as
amended, and the regulations promulgated thereunder (collectively, the "Code"), the City intends
to reimburse itself for such advances from a portion of the proceeds of the Bonds.
NOW, THEREFORE, BE IT DULY RESOLVED BY THE MAYOR AND THE CITY
COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, AS FOLLOWS:
Section 1.
Section 2.
Section 3.
Section 4.
Section 5.
Section 6.
Section 7.
Section 8.
The recitals set forth above are true and correct and are incorporated herein.
Implementation of the Project is hereby approved.
The Finance Director is hereby authorized to transfer $1,966,150 from the Reserve
Account for Capital Improvements in the General Fund to Capital Projects Fund 301,
as a loan until such time as the City can issue its Water, Sewer and/or Stormwater
Revenue Bonds in order to reimburse the Reserve Account for Capital Improvements
for such loan.
Said amount of $1 ,966, 150 is hereby appropriated for the purpose of paying the costs
of the Project.
The City hereby declares it official intent to issue Bonds, a portion of the proceeds
of which will, to the extent permissible under the Code, be used to reimburse the City
for moneys advanced by it, pursuant to Section 3 hereof, for the expenses incurred
and to be incurred with respect to the Project. This Resolution is intended as a
declaration of official intent under Treasury Regulation ~ 1.150-2. The Bonds are
expected not to exceed an aggregate principal amount of$55,000,000.
Proceeds of the Resort Tax in the amount of $284,877 is hereby appropriated to the
payment of a portion ofthe cost of the Project.
The amount of $311 ,467 is hereby appropriated from Bond Fund 351 to the payment
of a portion of the cost of the Project.
The amounts of$299,630 from the Redevelopment Trust Fund for the South Pointe
Redevelopment Area and $296,641 from the Redevelopment Trust Fund for the City
CenterIHistoric Convention Village Redevelopment Area, which have been
appropriated by the RDA for payment to the City, are hereby appropriated to the
payment of a portion of the cost of the Project, provided, however, that the moneys
derived from each such Redevelopment Area will only be expended for the portion
of the Project that lies within that respective Redevelopment Area.
~':\A1TO\LEVL\BONDS\W A TER\REIMBUR I ,RES
De~emhcr II, 19911 (lO:37am)
2
Section 9. The appropriate officers of the City are hereby authorized to take such action as may
be necessary to carry out the purpose of this Resolution and the Code.
Section 10. This Resolution shall take effect immediately upon its adoption.
PASSED and ADOPTED this 16th day of December , 1998.
1tR
ATTEST:
~AM r ~CiJt~
CITY CLERK
APPROVED AS TO
FORM & LANGUAGE
& FOR EXecUTION
~/
City An
/1../11 ~<
Dale
F:\AlTOILEVL\BONDSIW ATERIREIMHURI.RES
December II, 19911(IO:37am)
3
1
c:i
~ JI
;[
~
c:
CIl
E
~
e
Q.
.s
~
1
..c:
~
'tI
CIl
III
o
Q.
e c:
~.!!!
I~
..c:CIlOl
(,) ::l c:
~ ~'u
m~i
'- < c:
~c:u:
.- oS 'tI
~OlCll
'O~~
>-.1IlQ.
:t::~e
o;:..~
CIl
~
::l
o
CJ)
c:
:s
c:
~
~1Il
CJ)'tI
. c:
CJ)o
~'lXl
>-.~
:t::c:
o~
~
10
I")
~
...
CIl
c:
CIl
~
._,
01
1
~I
~
CJ)I
.....
10
I")
'tI
c:
~
'tI
c:
o
m
'tI
CIl
'tI
c:
~
~
'"
:J
o
'S:
ct
ci>
~
.......
~.....
c:1O
01")
m'tl
... c:
~~
~'tI
E a
om
-......
CJ) c:
:i~
~.-
CIl E
CJ)IO
_I")
Cii~
~~
~~
.ge
lLO
10
o
01
I~
,
I
I
i
I
~I
~I
I
:::-
CIl
~
CJ)
oS
.....
.....
.~
...:<:
~~
0>!!;
~'tI~
~~{!:l
~-e~
~::l'
eO ::l
Q.~ CIl
:::-EIIl~
CIl _ ~
~~{!:l!;
CJ)~CJ)~
oS~
<0._
-CJ)
,:;::.
..c:CIl
;::e
--
.......CJ)
oS
~
:::
UJ
CJ)
~
~
UJ
CJ)
~
~
ci>
t
{l
c:
o
m
...
CIl
~
E
oS
CJ)
...-
~
CIl
CJ)
o
o
o
C\I-
~
o
liS
o
"I"
o
o
o
o
o
I")
o
liS
o
"I"
00
00
00
C\i":
"I" co
C\l1")
...-
CIl
~I
~
.2
~
o
o
o
C"i
~
00
00
00
C"i <0-
~~
.....-
~
c:
CIl
E
~
e
Q.
.s
01
c:
'1::
CIl
CIl
c:
'61
~
><
~
t::
o
III
CIl
Q:;
01
01
ci>
01
(
Cl(l
...
CIl
C
CIl
o
~
~
c
&
(Jj
"-
"-
co
;i
C\I
-
01
o
~
-
"-
01
<0
o
"I"
:g
<0
r-:
~
:::-
CIlOl
e .5
Cii'C:
..c:.!!!
iO~
_c::
III
~:s
....CIl
~~
~
C::O)
~~
~~
e....J
Q.>!!;
:::-.s ~
3l~{!:l
.t:rCJ)
CJ)CIl
..c:'tI
::~
I CIl
..c:e
@.Ci)
~
UJ
CJ)
~
~
UJ
CJ)
~
~
-
10
I")
'tI
c:
~
'tI
c:
o
~
CIl
C
'0
~
(Jj
"-
-
01
<ci
I")
-
I")
co
I")
"
C\I
o
o
I")
~
-
ci>
~
.......
{l
c:
o
m
...
~
~
E
o
U5
...-
~
CIl
CJ)
..:
CIl
~
~
.2
::l
lL
~~
Q:;Q:;
CIl CIl
c:c:
'0 '0
n.~
..c:..c:
'5'5
o 0
CJ)CJ)
o
o
c
cO
I")
10
I I
00
00
00
oil)
"1"1")
00
00
01")
cO~
~"-
!
!
0010
000
000
o Il) 10-
"1"1")"-
I
~
c::
CIl
E
~
e
Q.
.s
01
c::
'1::
CIl
CIl
c:
'61
~
...
CIl
:t:
:J
(!)
~'tI
C::C:O)
~ IIl.S
Q)-e~
~ ::l.Ql
e~....J
Q.- >!!;
.s~~
:;::.. Q)Q)
3l=al3232
.t:~CJ)CJ)
CJ)CIl
..c:32
iO~
I CIl
..c:e
@.(i)
>
UJ
CJ)
~
~
~~
Q:;Q:;
~.s
c: c:
'0 '0
~~
..c:..c:
:;'5
o 0
CJ)CJ)
i
: 1
, I
, I
1~~1
I"I""I"!
, I
i i i
i I I
g liS liS I'
OI")l")
o~oi
"1""1"10
.....
! .
~
c:
CIl
E
~
e
Q.0l
E.5
~c
C::.!!!
'I::~
CIl c::
~.~
'- 'tI
OlCll
~~
...
CIl
~
E
.s
CJ)
~
CIl
CJ)
..:
CIl
~
CIl
...
:J
~
'tI
c: '"
1Il'tl
.....c:
10 0
I")m
o
o
o
C"i
-
'q
.....
ooooo~
01001O1O~
O_'q~"":.-LO
~~~~~
T-T-......~O')
-
01
01
-
o
01
lt)
I
OOCOOl~
g~f6~~~
--Il)r-:~"I" ~
101") "I" I") t'\l
- "-
o
o
o
0-
o
I")
00
o
o
o
o
I")
-
01
10
~
I.....
I
I
10
I'~
"--
~
I :
101
il~11
101
1 "-
1C\i,
oooo-~
01001O"I"~
q"l"_~q<o~
-10"-"1"<0
101")"1"1")01
-C\I
ooooo~
gg~~l6g,
~~~~8l
C\I
1
I
ooooo~
01001O''-~
q"l"_O_~<Oo
OI")CI")<o~
O-COOlCO
I")C\lC\I"-1O
I")
~
III
<3
c:
CIl
E
~
e
Q.
.s
:!
{2
~
c::
CIl
01
c::
~ CD
o ~
O::l
'tIo
c::CJ)
1Il~
III .S 01
CIlc: Ec:
~ .S! 'tI '-
...- <-g
:l~ ti.f
c: .!!! .~ 'tI
'61.5 e c:
c: E ~~ tII
~~iuj~
CIl ti ~~ 0
;t:;: (1)--__
1i "e' 1: .!! .!
.:(~<3{2{2
Ui'
e
::l
1$
Ll..
(,)
.;::
.s
'"
:r:
.......
III
CIl
Iii
E
~
~
'tI
'tI
<
CIl
oS
...
.2
01
c:
'6
c:
.,2
'tI'tI
~ CIl
.~ :g
e- 8"0
& a, 8,
III CIl'O
~-g~
"'i3~
5'S '0
.~ a>
"'C:'tI
Q.1Ilc:
~ ~ III
CIl'tl>
~CIl:::
{l~~
c: CIl CIl
,2..c:::l
~1ilif
Q) .!a ....
t:t:.2
;:--Qj
~~
CITY OF MIAMI BEACH
CITY HALL 1700 CONVENTION CENTER DRIVE MIAMI BEACH. FLORIDA 33139
http:\\ci.miami-beach.fl.us
TO:
FROM:
SUBJECT:
COMMISSION MEMORANDUM NO. ~0 S- - f <2/
Mayor Neisen O. Kasdin and DATE: December 16,1998
Members of the City C9mmission
f
Sergio Rodriguez;{'y
City Manager #-
/
A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE
CITY OF MIAMI BEACH, APPROVING THE PHYSICAL IMPROVEMENT
PROJECT FOR WASHINGTON AVENUE; PROVIDING FOR A LOAN OF
$1,966,150 FROM THE RESERVE FOR CAPITAL IMPROVEMENTS IN
THE GENERAL FUND TO CAPITAL PROJECTS FUND 301; DECLARING
THE OFFICIAL INTENT OF THE CITY TO ISSUE BONDS IN ORDER TO
REIMBURSE ITSELF FROM THE PROCEEDS OF SUCH BONDS FOR
FUNDS ADVANCED BY THE CITY FOR CERTAIN EXPENSES
INCURRED WITH RESPECT TO SAID PROJECT; APPROPRIATING SAID
AMOUNT OF $1,966,150, TOGETHER WITH $299, 630 RECEIVED FROM
THE MIAMI BEACH REDEVELOPMENT AGENCY FROM THE
REDEVELOPMENT TRUST FUND FOR THE SOUTH POINTE
REDEVELOPMENT AREA AND $296,641 FROM THE REDEVELOPMENT
TRUST FUND FOR THE CITY CENTER/HISTORlC CONVENTION
VILLAGE REDEVELOPMENT AREA, $284,877 OF PROCEEDS OF THE
RESORT TAX, AND $311,467 FROM BOND FUND 351, FOR THE PURPOSE
OF IMPLEMENTING SAID PROJECT; AND PROVIDING AN EFFECTIVE
DATE.
ADMINISTRATION RECOMMENDATION
Adopt the resolution.
BACKGROUND
In an effort to respond to the community concern related to the perceived deterioration of
Washington Avenue, Mayor Kasdin appointed the Washington Avenue Task Force and the Ad Hoc
Committee in February 1998. The purpose ofthe Task Force was to address the myriad of complex
economic issues that plague Washington Avenue, and to prepare recommendations for its
improvement. ~~ F-
Agenda Item - J
1/-1 \-cr ~/
n:ltpo
On July 15,1998 Linda Polansky, chairperson of the Washington Avenue Task Force reported to
the City Commission the efforts of the Task Force and its recommendations. The issues
surrounding the funding of this project were referred by the City Commission to the Finance and
Citywide Projects Committee. On November 19, 1998, the Finance and Citywide Projects
Committee met and a presentation of possible funding sources was mack. It was determined through
discussion that the plan did not include the cost of architectural/engineering services for all the
components and that the estimated costs for the components ofthe plan should also be verified. The
Committee directed the administration to identify an appropriate source of funding for the scope of
work presented and forward the item to the full Commission.
ANAL YSIS
The proposed funding plan has been amended to include architecturaVengineering fees for all project
components as well as the cost of project administration and an appropriate contingency. The
funding for this project will come from various sources. The cost of the project has been allocated
to the South Pointe District, the City Center District and the City areas based on the value of
improvements in each area after first deducting the cost of infrastructure improvements to be funded
through the issuance of Water, Sewer, and Stormwater Bonds.
It is recommended that an appropriation and transfer of $1 ,966, 150 from the Reserve Account for
Capital Improvements in the General Fund (the $35 million) be made to Capital Projects Fund 301,
as a loan until such time as the City can issue the Bonds. The attached Resolution is intended as a
declaration of official intent, under Treasury Regulation Section 1.150-2, to issue the proposed
Water, Sewer and Stormwater Bonds and to reimburse the funds to the extent permissible under the
Internal Revenue Code of 1986. The Bonds are expected not to exceed an aggregate principal
amount of$55,000,000.
Further, it is recommended that funding be appropriated from the Resort Tax Fund in the amount
of$284,877, and from Bond Fund 351, in the amount of$311,467.
Additionally, the Miami Beach Redevelopment Agency (RDA) must appropriate $299,630 from the
Redevelopment Trust Fund for the South Pointe area and $296,641 from the Redevelopment Trust
Fund for the City Center/Historic Convention Village area.
CONCLUSION
The City Commission should adopt the Resolution to appropriate the funds to improve Washington
Avenue between 5th and 16th Streets, which improvements shall include, but not be limited to the
construction, reconstruction and replacement ofwater and sewer lines, sidewalks, streets and median,
and the landscaping (including an irrigation system) along Washington Avenue.
SRE'7}JC
att~~ts