Loading...
2014-28835 Reso RESOLUTION NO. 2014-28835 A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, APPROVING, FOLLOWING A DULY NOTICED PUBLIC HEARING PURSUANT TO SECTION 163.361(2), FLORIDA STATUTES, AMENDMENTS TO THE MIAMI BEACH CITY CENTER/HISTORIC CONVENTION VILLAGE REDEVELOPMENT AND REVITALIZATION AREA (CITY CENTER RDA) PLAN, AN APPROVED REDEVELOPMENT PLAN UNDER THE PROVISIONS OF SECTION 163.360, FLORIDA STATUTES (THE PLAN); SAID AMENDMENTS: (A) INCORPORATING THE CITY'S PROPOSED CONVENTION CENTER RENOVATION AND EXPANSION PROJECT; AND (B) PROVIDING FOR AN EXTENSION OF THE CITY CENTER RDA AT A NINETY FIVE PERCENT (95%) TAX INCREMENT UNTIL THE EARLIER OF MARCH 31, 20449 OR THE DATE AGENCY INDEBTEDNESS IS NO LONGER OUTSTANDING; FURTHER APPROVING AND AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE A THIRD AMENDMENT, BY AND AMONG MIAMI-DADE COUNTY (COUNTY), THE CITY, AND THE MIAMI BEACH REDEVELOPMENT AGENCY (RDA), TO THE NOVEMBER 16, 1993 INTERLOCAL COOPERATION AGREEMENT, AS AMENDED (THE INTERLOCAL AGREEMENT), RELATED TO THE CITY CENTER RDA AND BY WHICH THE COUNTY ORIGINALLY DELEGATED TO THE CITY CERTAIN REDEVELOPMENT POWERS CONFERRED TO THE COUNTY UNDER PART III, CHAPTER 163, FLORIDA STATUTES (THE COMMUNITY REDEVELOPMENT AGREEMENT ACT OF 1969 OR THE ACT); AND WHICH AMENDMENT, AMONG OTHER TERMS, EXTENDS THE TERM OF THE CITY CENTER RDA, AS PROVIDED IN THE AFORESTATED PLAN AMENDMENT, AND ADDS AN ADDITIONAL MEMBER TO THE GOVERNING BOARD OF THE AGENCY, WHO SHALL BE THE MIAMI-DADE COUNTY COMMISSIONER OF COUNTY COMMISSION DISTRICT 5, PURSUANT TO SECTION 163.357(d) OF THE FLORIDA STATUTES. WHEREAS, the City of Miami Beach, Florida ("City") adopted Resolution No. 93- 20721 on February 12, 1993, and Miami-Dade County(the "County") adopted Resolution No. R-317-93 on March 30, 1993, approving the City Center/Historic Convention Village Redevelopment and Revitalization Plan (the "Plan") for the project area commonly called "City Center/Historic Convention Village Redevelopment and Revitilization Area" (the "City Center RDA" or the "Redevelopment Area"); and WHEREAS, the City enacted Ordinance No. 93-2836 on February 24, 1993, and the County enacted Ordinance No. 93-28 on April 27, 1993, creating a trust fund ("Fund") to fund improvements in the Redevelopment Area; and WHEREAS, the County and the City also approved and entered into an Interlocal Cooperation Agreement ("Interlocal Agreement"), executed on November 16, 1993, by which the County delegated to the City certain redevelopment powers granted by Part III of Chapter 163, Florida Statutes including, but not limited to, the implementation of the Plan; and WHEREAS, the Mayor and the City Commission adopted Resolution No. 2014-28644 on June 27, 2014, approving a proposed Memorandum of Intent ("MOI"), the terms of which were also endorsed by the County Mayor; and WHEREAS, subject to approval of final agreements by the City Commission and the Miami-Dade County Board of County Commissioners, the terms of the MOI memorialized the City and County's commitment to amend the Plan; amend the Interlocal Agreement to, among other things, permit the Miami Beach Redevelopment Agency (the "Agency" or "RDA") to issue bonds and extend the life of the City Center RDA; and to provide for an ongoing adequate operating and maintenance subsidy for the Miami Beach Convention Center, in addition to the existing $4.5 million per year that the City currently receives from Convention Development Taxes; and WHEREAS, the Agency recommends the proposed Plan amendment, attached and incorporated as Exhibit "A" hereto, to (1) incorporate the Miami Beach Convention Center Renovation and Expansion Project (the "Project"); (2) incorporate the financing of the Project, including the funding of operating and maintenance costs therefor; and (3) extend the time certain for completing all redevelopment projects financed by increment revenues until the earlier of March 31, 2044 or the date Agency indebtedness is no longer outstanding; and WHEREAS, the Agency finds that with respect to the Plan amendments: (i) a feasible method continues to exist for the location of families who will be displaced from the Redevelopment Area in decent, safe, and sanitary dwelling accommodations within their means and without undue hardship to such families, as the amendments do not contemplate displacement of residents; (ii) the Plan continues to conform to the general plan of the County and the City as a whole; (iii) the Plan continues to give due consideration to the utilization of community policing innovations, and to the provision of adequate park and recreational areas and facilities that may be desirable for neighborhood improvement, with special consideration for the health, safety, and welfare of children residing in the general vicinity of the site covered by the Plan; (iv)the Plan will continue to afford maximum opportunity, consistent with the sound needs of the City as a whole, for the rehabilitation or redevelopment of the community redevelopment area by private enterprise; and WHEREAS, the Agency further recommends the execution of the Third Amendment to the Interlocal Agreement, attached and incorporated as Exhibit "B" hereto, to, in pertinent part: (i) authorize the Agency to issue bonds and incur debt, in an aggregate principal amount not to exceed $430,000,000.00, secured by tax increment revenues of the Agency to, among other purposes, fund a portion of the Project; (ii) extend the time certain for completing all redevelopment projects financed by increment revenues until the earlier of March 31, 2044 or the date Agency indebtedness is no longer outstanding; (iii) provide an exemption for The Children's Trust, an independent special taxing district, from the requirements of Section 163.387(2)(a) of the Florida Statutes, with respect to the pledging of annual tax increment revenues attributable to The Children's Trust, commencing on the earlier of (i) the date the Agency's bonds outstanding as of November 1, 2014 are no longer outstanding, or(ii) March 31, 2023; (iv)add an additional member to the governing board of the RDA, who shall be the Miami-Dade County Commissioner of County Commission District 5, pursuant to Section 163.357(d) of the Florida Statutes, and who shall be vested with the same rights, duties and obligations as any other Agency commissioner; and WHEREAS, upon approval by the Agency and the City, respectively, the Plan amendment and the Third Amendment to the Interlocal Agreement will be transmitted to the County, for consideration and approval by the Board of County Commissioners. 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 approve the amendments to the Miami Beach City Center/Historic Convention Village Redevelopment and Revitalization Area (City Center RDA) Plan, an approved Redevelopment Plan under the provisions of Section 163.360, Florida Statutes (the Plan); said amendments, attached and incorporated as Exhibit "A" hereto: (a) incorporating the City's proposed Convention Center Renovation And Expansion Project; and (b) providing for an extension of the City Center RDA at a ninety five percent (95%) tax increment until the earlier of March 31, 2044, or the date Agency indebtedness is no longer outstanding; further approve and authorize the Mayor and City Clerk to execute a Third Amendment, by and among Miami-Dade County (County), the City, and the Miami Beach Redevelopment Agency (RDA), to the November 16, 1993 Interlocal Cooperation Agreement, as amended (the Interlocal Agreement), said Third Amendment attached and incorporated as Exhibit"B" to this Resolution. PASSED and ADOPTED this day of #MN 2014. ATTEST: Yt / IN CORP( , ORATED' Rafael E. Granado, City Clerk �^.. r Phili L ;i`/,'Mayor U� .f �C) j CF-� T:\AGENDA\2014\July\TCED\RDA Plan and Interlocal Amendment Reso.doc APPROVED AS TO FORM & LANGUAGE &FOR EXECUTION o4 0 City Attorney p Date l� COMMISSION ITEM SUMMARY Condensed Title: Resolution Approving, Following A Duly Noticed Public Hearing Pursuant To Section 163.361(2),Florida Statutes,An Amendment To The Miami Beach City Center/Historic Convention Village Redevelopment And Revitalization Area Plan(City Center RDA),An Approved Redevelopment Plan Under The Provisions Of Section 163.360,'Florida Statutes (The Plan); Said Amendments: (A) Incorporating The City's Proposed Convention Center Renovation And Expansion Project; And (B) Providing For An Extension Of The City Center RDA At A Ninety Five Percent (95%)Tax Increment Until The Earlier Of March 31,2044,Or The Date Agency Indebtedness Is No Longer Outstanding;Further Approving And Authorizing The Mayor And City Clerk To Execute A Third Amendment, By And Among Miami-Dade County (County), The City, And The Miami Beach Redvelopment Agency(RDA),To The November 16, 1993 Interlocal Cooperation Agreement,As Amended(The Interlocal Agreement),Related To The City Center RDA And By Which The County Originally Delegated To The City Certain Redevelopment Powers Conferred To The County Under Part Iii, Chapter 163, Florida Statutes(The Community Redevelopment Agreement Act Of 1969"Or The"Act");And Which Amendment,Among Other Terms, Extends The Term Of The City Center RDA As Provided In The Aforestated Plan Amendment,And Adds An Additional Member To The Governing Board Of The Agency,Who Shall Be The Miami-Dade County Commissioner Of County Commission District 5,Pursuant To Section 163.357(D)Of The Florida Statutes. Key Intended Outcome Supported: Expeditiously Upgrade The Convention Center To Be Smart, Modern, Energy Efficient And Which Fits Local Context, Including Walkabilit Supporting Data(Surveys,Environmental Scan,etc.):The 2014 Community Satisfaction Survey reported that over half of businesses(56%) claimed that the Miami Beach Convention Center added to the success of their business.Six in ten businesses(61%)support improvements of at least$300 million for the Miami Beach Convention Center. Item Summa /Recommendation: PUBLICHEARING On January 26, 1993,Miami-Dade County(the"County")adopted Resolution No.R-14-93,which among other things(i)found the area in the City of Miami Beach (the"City") bounded on the East by the Atlantic Ocean, on the North by 24th Street, on the West by West Avenue, and on the South by 14th Lane (the"City Center Redevelopment Area"or"Redevelopment Area")to be a"blighted area"within the meaning of Part III of Chapter 163, Florida Statutes, and (ii) delegated to the City of Miami Beach, pursuant to Section 163.410, Florida Statutes, certain powers conferred upon the County Commission as the governing body of Dade County by Part III of Chapter 163, Florida Statutes, with regard to the Redevelopment Area,so that the City Commission,either directly or through its duly designated community redevelopment agency,could exercise such powers. On February 3, 1993,the City adopted Resolution No.93-20709,which established a community redevelopment agency(the"Miami Beach Redevelopment Agency" or the "Agency"), and declared the members of the City Commission as the members of the Agency. Subsequently, on February 12, 1993, the City adopted Resolution No. 93-20721, which adopted the Agency's City Center/Historic Convention Village Redevelopment and Revitalization Area plan (the"Plan")for the redevelopment and revitalization of the Redevelopment Area. County and City Administrations negotiated and conceptually(in pertinent part)agreed to the following items pertaining to the RDA: (i) amend the Plan; and (ii) amend the Interlocal Agreement to, among other things,extend the life of the Redevelopment Area to March 31,2044; and (iii) authorizes the issuance of tax increment revenue bonds in one or more series by the RDA in an amount not to exceed$430,000,000 for purposes of refunding current outstanding debt, funding eligible community redevelopment project costs, including the Miami Beach Convention Center(Convention Center) renovation, and any reserves and costs of issuance; (iv) provide for an ongoing adequate operating and maintenance subsidy for the Miami Beach Convention Center,in addition to the existing $4.5 million per year and annual year-end revenue sharing that the City currently receives from Convention Development Taxes through 2048; (v) provide for ongoing funding of City operations in the RDA; (vi) establishes that from FY 2014-15 through FY 2021-22,any funding not used for debt service and operating expenses will go into a fund to be used for shortfalls and eventually prepayment of debt; (vii) establishes that from FY 2022-23 until FY 2043-44,the County will receive a refund of City Center Agency operating expenses based on its proportion of revenues contributed to the Trust Fund;and (viii) any remaining funding will be used to extinguish debt early. The City Commission, pursuant to Resolution No. 2014-28644 adopted on June 27, 2014, approved a Memorandum of Intent (the "MOI"), memorializing the aforementioned.The County Mayor has committed to promote and recommend the components of the MOI,subject to final legal review by the County approval and approval by the Board of County Commissioners.The MOI provides that the conceptual terms and conditions contained therein, including the preceding terms, are subject to further actions and approvals to be taken, respectively, by the Board,the City Commission, and the Agency. Accordingly, in furtherance of same, the County, City, and the Agency desire to further amend the Interlocal Agreement. The City Commission,at its October 29,2014 meeting,adopted amendments to the Trust Fund Ordinance which extended the period of funding of the Trust Fund. Advisory Board Recommendation: The RDA will be considering the proposed plan and Interlocal agreement amendments at the November 19,2014 City Commission Meeting. Financial Information: Source of Funds: Amount Account 1 OBPI Total Financial Impact Summary: See above summary. City Clerk's Office Legislative Tracking: Max Sklar,Tourism and Cult ral Development Director Sign-Off,: lepapfirnen !rector Ass' t ity Manager ity Manager �/� I AGENDA EM R7A DATE 1915 -2015 MIAMSEACH City of Miami Beach, 1700 Convention Center Drive,Miami Beach, Florida 33139,www.miamibeachfl.gov COMMISSION MEMORANDUM To: Honorable Mayor Philip Levine an Member f the City Commission FROM: Jimmy L. Morales, City Manager DATE: November 19, 2014 PUBLIC HEARING SUBJECT: RESOLUTION APPROVING, FOLLOWING A DULY NOTICED PUBLIC HEARING PURSUANT TO SECTION 163.361(2), FLORIDA STATUTES, AN AMENDMENT TO THE MIAMI BEACH CITY CENTER/HISTORIC CONVENTION VILLAGE REDEVELOPMENT AND REVITALIZATION AREA PLAN (CITY CENTER RDA), AN APPROVED REDEVELOPMENT PLAN UNDER THE PROVISIONS OF SECTION 163.360, FLORIDA STATUTES (THE PLAN); SAID AMENDMENTS: (A) INCORPORATING THE CITY'S PROPOSED CONVENTION CENTER RENOVATION AND EXPANSION PROJECT; AND (B) PROVIDING FOR AN EXTENSION OF THE CITY CENTER RDA AT A NINETY FIVE PERCENT (95%) TAX INCREMENT UNTIL THE EARLIER OF MARCH 31, 2044, OR THE DATE AGENCY INDEBTEDNESS IS NO LONGER OUTSTANDING; FURTHER APPROVING AND AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE A THIRD AMENDMENT, BY AND AMONG MIAMI-DADE COUNTY (COUNTY), THE CITY, AND THE MIAMI BEACH REDVELOPMENT AGENCY (RDA), TO THE NOVEMBER 16, 1993 INTERLOCAL COOPERATION AGREEMENT, AS AMENDED (THE INTERLOCAL AGREEMENT), RELATED TO THE CITY CENTER RDA AND BY WHICH THE COUNTY ORIGINALLY DELEGATED TO THE CITY CERTAIN REDEVELOPMENT POWERS CONFERRED TO THE COUNTY UNDER PART III, CHAPTER 163, FLORIDA STATUTES (THE COMMUNITY REDEVELOPMENT AGREEMENT ACT OF 1969" OR THE "ACT"); AND WHICH AMENDMENT, AMONG OTHER TERMS, EXTENDS THE TERM OF THE CITY CENTER RDA AS PROVIDED IN THE AFORESTATED PLAN AMENDMENT, AND ADDS AN ADDITIONAL MEMBER TO THE GOVERNING BOARD OF THE AGENCY, WHO SHALL BE THE MIAMI-DADE COUNTY COMMISSIONER OF COUNTY COMMISSION DISTRICT 5, PURSUANT TO SECTION 163.357(D) OF THE FLORIDA STATUTES. ADMINISTRATION RECOMMENDATION Adopt the Resolution. City Commission Meeting Public Hearing City Center Redevelopment Plan and Interlocal Amendment November 19, 2014 Page 2 of 6 BACKGROUND On January 26, 1993, Miami-Dade County (the "County") adopted Resolution No. R-14- 93, which among other things (i) found the area in the City of Miami Beach (the "City") bounded on the East by the Atlantic Ocean, on the North by 24th Street, on the West by West Avenue, and on the South by 14th Lane (the "City Center Redevelopment Area" or "Redevelopment Area") to be a "blighted area" within the meaning of Part III of Chapter 163, Florida Statutes, and (ii) delegated to the City of Miami Beach, pursuant to Section 163.410, Florida Statutes, certain powers conferred upon the County Commission as the governing body of Dade County by Part III of Chapter 163, Florida Statutes, with regard to the Redevelopment Area, so that the City Commission, either directly or through its duly designated community redevelopment agency, could exercise such powers. On February 3, 1993, the City adopted Resolution No. 93-20709, which established a community redevelopment agency (the "Miami Beach Redevelopment Agency" or the "Agency"), and declared the members of the City Commission as the members of the Agency. Subse uentl , on February 12 1993 the City adopted Resolution No. 93- 20721, which adopted the Agency's City Center/Historic Convention Village Redevelopment and Revitalization Area plan (the "Plan") for the redevelopment and revitalization of the Redevelopment Area. On February 24, 1993, the City enacted Ordinance 93-2836, which created a City Center/Historic Convention Village Redevelopment and Revitalization Trust Fund (the "Fund" or "Trust Fund") and provided a funding mechanism for implementing the Plan. The County, on March 30, 1993, adopted Resolution No. R-317-93, which among other things (i) adopted the Plan, and (ii) approved the Interlocal Cooperation Agreement, between the County and the City, dated and executed on November 16, 1993 (as amended, the "CRA Interlocal Agreement"). The County and the City then approved and entered into the Interlocal Cooperation Agreement, executed on November 16, 1993 (as amended by the First Amendment (defined below) and by the Second Amendment (defined below), the "Interlocal Agreement"), by which the County delegated to the City certain redevelopment powers granted by the Act, including but not limited to the creation of the Redevelopment Area and implementation of the Plan. The County and the City adopted Resolution No. R- 889-03 and Resolution No. 2003-2537, respectively, approving an amendment to the Plan to incorporate the development and implementation of community policing initiatives. The Board, through Resolution No. R-889-03, and the City Commission, through Resolution No. 2003-25241, also approved an amendment to the Interlocal Agreement ("First Amendment") to delegate to the City the power to implement the community policing initiatives. The Board, through Resolution No. R-958-05, and the City Commission, through Resolution No. 2004-25560, also approved a second amendment to the Interlocal Agreement ("Second Amendment") whereby (i) the County, City, and Agency agreed that the Agency would remit one and one-half percent (1.5%) of the Tax Increment Revenue paid to the Agency for said fiscal year to the County to defray administrative costs for oversight and processing Agency related items, after debt service and all other obligations related to the bonds or future indebtedness issued by the Agency and City Commission Meeting Public Hearing City Center Redevelopment Plan and Interlocal Amendment November 19, 2014 Page 3 of 6 approved by the County was satisfied for the fiscal year, and (ii) the County approved the Agency's issuance of refunding bonds in an amount not to exceed a principal amount of $101,090,000.00 to refinance all or a portion of the outstanding principal amount of bonds issued with respect to the Redevelopment Area. Section 163.361, Florida Statutes, provides that the "governing body" of the Redevelopment Agency may amend the Redevelopment Plan from time to time, upon recommendation of the Agency. The 332-acre City Center/Historic Convention Village Redevelopment and Revitalization Area (City Center RDA) was established in 1993, in order to provide the funding mechanism to foster the development of new convention hotel development within proximity of the Miami Beach Convention Center and to establish the necessary linkages between the City's many core area civic, cultural and entertainment uses in order to create the fabric of a true urban downtown. Since its success in attracting two convention-quality hotels, the Redevelopment Agency has been focusing its efforts on a number of initiatives including enhanced innovative community policing and upgrading the area's infrastructure, alleviating traffic and parking congestion and encouraging the production and presentation of arts and cultural activities in the area. In 2003, the Redevelopment Agency amended its Redevelopment Plan for City Center to specifically address these objectives in the context of the New World Symphony's expansion plans involving the 17th Street surface lots and the resulting impact to the Convention Center and neighboring businesses in addition to new or enhanced policing initiatives in the area. County and City Administrations negotiated and conceptually (in pertinent part) agreed to the following items pertaining to the RDA: (i) amend the Plan; and (ii) amend the Interlocal Agreement to, among other things, extend the life of the Redevelopment Area to March 31, 2044; and (iii) authorize the issuance of tax increment revenue bonds in one or more series by the RDA in an amount not to exceed $430,000,000 for purposes of refunding current outstanding debt, funding eligible community redevelopment project costs, including the Miami Beach Convention Center (Convention Center) renovation, and any reserves and costs of issuance, (iv) provide for an ongoing adequate operating and maintenance subsidy for the Miami Beach Convention Center, in addition to the existing $4.5 million per year and annual year-end revenue sharing that the City currently receives from Convention Development Taxes through 2048; (v) provide for ongoing funding of City operations in the RDA; (vi) establish that from FY 2014-15 through FY 2021-22, any funding not used for debt service and operating expenses will go into a fund to be used for shortfalls and eventually prepayment of debt; (vii) establish that from FY 2022-23 until FY 2043-44, the County will receive a refund of City Center Agency operating expenses based on its proportion of revenues contributed to the Trust Fund; and (viii) provide that any remaining funding will be used to extinguish debt early. City Commission Meeting Public Hearing City Center Redevelopment Plan and Interlocal Amendment November 19, 2014 Page 4 of 6 The City Commission, pursuant to Resolution No. 2014-28644 adopted on June 27, 2014, approved a Memorandum of Intent (the "MOI"), memorializing the foregoing, the terms of which were endorsed by the County Mayor, subject to final legal review by the County and approval by the Board of County Commissioners. The MOI provides that the conceptual terms and conditions contained therein, including the preceding terms, are subject to further actions and approvals to be taken, respectively, by the Board, the City Commission, and the Agency. Accordingly, in furtherance of same, the County, City, and the Agency desire to further amend the Interlocal Agreement. The City and the Agency have prepared an amendment to the Plan (the "Plan Amendment"), to incorporate (1) the Miami Beach Convention Center Renovation and Expansion Project, including all necessary improvements to and expansion of the Convention Center and surrounding area (the "Project"); (2) the financing of the Project, including the funding of operating and maintenance costs thereof; and (3) extend the time certain for completing all redevelopment projects financed by increment revenues and retiring all outstanding indebtedness to a date no later than March 31, 2044. The Redevelopment Agency's objective over the next five years shall focus on the planning and implementation of capital projects associated with, but not limited to the Master Plan for the expansion of the Convention Center, upgrading streetscapes and related infrastructure throughout City Center and parking facilities, The RDA shall also continue to fund public service enhancements provided for under the Community Policing Program as well as ensure the on-going maintenance of capital assets funded with TIF. A majority of the capital enhancements set forth in the Redevelopment Plan and the 2003 Amendment, have been completed and/or are currently underway, including the City Center Right-of-Way improvements, the City Hall Expansion Garage, the Collins Park improvements and the development of the 17th Street surface lots into the New World Campus. Redevelopment Agency(RDA) Interlocal Agreement Subsequently, the City and County administrations have negotiated the terms of a third amendment to the City Center RDA (the Third Amendment), which will extend the life of the from FY 2022-23 to FY 2043/44 at the 95 percent (95%) tax increment funding level. This allows the CRA to fund, through the issuance of CRA bonds, the additional funding needed for construction costs of the new and expanded Convention Center and to fund $36 million of previously approved City Center RDA capital projects, provide increased operating and maintenance expenses for the Convention Center, as well as City Center RDA administrative costs, community policing, and capital project maintenance within the RDA. However, after FY 2022/23, when the existing RDA would have expired, City returns a pro-rata share of administrative costs, community policing, and capital project maintenance to the County. The $36 million of previously planned City Center projects include $20 million programmed in the City's adopted Capital Improvement Plan for the Lincoln Road Improvement from Washington Avenue to Lenox Avenue, which will be based on the Lincoln Road Master Plan currently underway, $3.25 million programmed for the second City Commission Meeting Public Hearing City Center Redevelopment Plan and Interlocal Amendment November 19, 2014 Page 5 of 6 half of the funding for the Bass Museum Interior Expansion Project, and $12 million programmed for Improvements to 17th Street and Connectors to Lincoln Road. These are all projects in the City's adopted Capital Improvement Plan, which are not part of the Convention Center Project. The issuance of City Center RDA Bonds will be done through a public offering of debt. The marketplace will dictate the debt service coverage and debt service reserve requirements for those bonds (for a total estimated bond issuance of approximately $430 million, including refunding of approximately $70 million of existing bonds, which will have a direct impact on how long those bonds will be outstanding. Since the expansion of the City Center RDA is only for the purposes of providing funding for the Convention Center expansion, providing funding for previously approved City Center projects, and providing an adequate additional operating and maintenance subsidy for the facility, both the County and City administrations agree to recommend that the CRA would not need to seek prior approval of each year's budget from the Board of County Commissioners before borrowing money, advancing funds or incurring indebtedness. However, County and City administrations agree that representation by one County Commissioner on the RDA Board would be appropriate. Accordingly, the Third Amendment also includes a provision which allows the Board of County Commissioners the right, in its sole and absolute discretion, to appoint a member of the Agency, who shall be the Commissioner of County Commission District 5, and such Commissioner shall be vested with the same rights, duties and obligations as any other Agency commissioner. Pursuant to an existing Convention Development Tax CDT Interlocal agreement, the City currently receives a flat $4.5 million per year from Convention Development Taxes to operate and maintain the Convention Center, plus an annual year-end revenue share based on CDT exceeding collection amounts that increase each year. The Third Amendment will allow for an additional annual operating and maintenance subsidy starting at $1 million in 2017 and growing to $4 million by 2021, which will then escalate at 4 percent or Consumer Price Index (CPI) annually (whichever is less) starting in 2026 over the life of the Convention Center, funded either through RDA funds or through Convention Development Taxes, depending on the availability of the latter. That funding will remain in place until 2048. Finally, once the current) existing debt is refinanced, the Third Amendment exempts the Y Y 9 P Children's Trust, an independent taxing district, with respect to the pledging of annual tax increment revenues attributable to The Children's Trust, to conform with the general exemption provided to The Children's Trust in Section 2-1742 of the Miami-Dade County Code. Redevelopment Agency(RDA) Plan Amendment The attached Resolution also amends the City Center/Historic Convention Village Redevelopment Plan to include the renovation and expansion of the Convention Center and related operating and maintenance, upgrading streetscapes and related infrastructure throughout City Center and associated parking facilities. The Third Amendment also extends the life of the district from FY 2022/23 to March 31, 2044. The Third Amendment also replaces page 42 of the 2002 Plan Amendment to address the Convention Center renovation and expansion. The plan amendments are attached for your review as Exhibit "A.' City Commission Meeting Public Hearing City Center Redevelopment Plan and Interlocal Amendment November 19, 2014 Page 6 of 6 The City Commission, at its October 29, 2014 meeting, adopted amendments to the Trust Fund Ordinance which extended the period of funding of the Trust Fund. Convention Development Tax(CDT) Interlocal Agreement An amendment to the Convention Development Tax (CDT) Interlocal Agreement consistent with the terms of the negotiated MOI is a separate item on this agenda. CONCLUSION As such, the Administration recommends adopting the Amendment to the City Center Redevelopment Plan and Interlocal Agreement. JLM/KGB/MS Attachment T:\AGENDA\2014\October\October 29\TCED\City Center RDA Plan and Interlocal Amendment Commission memo.doc EXHIBIT „A„ ,Pane 17 of the original 1993 plan is hereby deleted in its entirety and replaced with the following: Formatted:Font:(Default)Times New Roman } - - As public improvements spur additional private investment, increments will grow, allowing bonds to be issued in an amount necessary to fund the S6-5.6581 million „r ^Fn char@ eudiped abek,@. To raise the S6"J- 58I million in bonds will require a commitment of approximately$6-.6 25 million annually in tar increments Until the earlier of March 31. 2041, or the date Avealcy Indebtedness is no longer oUttstandin�Z. @F^ 30 eaF p od. The Agency will prepare and adopt a resolution authorizing the issuance of bonds and defining their terms. Such a resolution must be adopted prior to the sale of the bonds. The bonds shall be marketed in accordance with 4atutory.requirements. The Agency may issue Redevelopment ,Revenue Bonds for the following purposes: a. To pay for site improvements, project improvements and supporting facilities constructed at the Agency's expense and to pay for all other expenditures made by the Agency for or in connection with the project. b. With the consent of the applicable governing body,to pay all or part of the value of land and the cost of the,installation and construction of any building, facility, structure, or oilier improvement which is publicly owned either within or without the',project area to the extent that such buildings. facilities, structures; or other improvements are of benefit to the project area. C. Reimhurserne'nt to.'the City of Nhami Beach for monies expended or advanced: d. For any othe'e purposes 'pennitted by law and authorized by the Agency bond, note or other form of indebtedness pledging increment revenue shall mature no later than the maximum period allowed by applicable law. =102. Duration of Projects The redevelopment activities contemplated by this plan ar6s extended until the earlier of Vlarch 31. 2041. or the date aaenev indebtedness is no longer outstandinU. Me SElledUled �ei- eoiiipletion thii-ty (30.) yeai-s P-6111 the date er adOptiOfl 4 diis Plan by the GiEy o = __ 0ow -o -D a) N a) cu N CU ca U 'i (Q U C) O C O cu U O �- C a) OL C «. C O c ° Q. m O _ U c0 " L E -0 - (n � w 4- O O C CD U — > N 'D a) C "O OL CO CO In a)a. Co c CU = O � LO 7 C •'_' -0 E E p CU in U .0 cu c c C a0) +• -O ..•. -D CO -0 ococn -0 " o .. o co L L -o N_0 cu_o cn m CF CU 0 N O a) a) C O a)cr 0 cu X (, N }' N B C a) � N C 3 (n Q) - ~ N v O O cu O N E c > C L F- O o c a) -0 C p Q) _ L. U (a O L N a) O N = c N C a � (.j _ —O c E a) v N a) () a) -D a) �+ O ° L (D w e = M 0 C � ,, U) cu a) - c O CY .0 V L O 'V OL O N N o co ° V C •"' O — LL �"' L) CO O }, U cn U a) c L O L L L a) V Co }, O C C 0 y � 0cUm � p OO .cna� 'Nc }, L -°v � -oE �j .� U � '> p O 0 E �_ a) c = c L p C a c C _ U O +:. N +r Qa 0_ C U0 c 0 .N O 0 -0 O O C Cc Q) '� c O C '�j (n � c .L.• U L rL., a) a) (� c m = X Y C , a) C ca C U C C C L C C C i i u c O 7 cu - }' co O C .0 - C C L p p = +� ° O t/) O cv ca O co m0 LLI QH a) cva.- Q 0 c.) O L) 0, WUMa � L c O C co "D C }, "D c "D j ca cu L a) _0 L L a) 'D co O C/) C O C L C a) C C C L M � C - c0 U (a 4-• (� •O a) L C "D O }' cn 4 Co cu U C 0 cn .= a� o � c Em ° N0 v : - 0 C L cn N O L a) C C () C n O +r E 0 c o c > }, > U C O 0 O 0 -0 C) C U L s ++ K N C) a) N O L +r = OL N cQ U C c6 L c c O O C C aD U) U M U a� .� � c _ a) W v� � c > co '0 E0 a) c � ca � �°-� -°, a ° � 'LQEE can -v c: cu Oc a) > � '0 Mn a) O = a+ a) O can O O p a) V O E N -0 U ° D O Q E a) c c E E aL) > = o � O `'' ff E -0v � " � 'E o � cEviO is L — o L a) . C � � U L N o L U ca co � � m E ov " U c = o - � c � o '- c — � (nEm > o }' O M Cl) �. c (� C 0 O L �' p 0 L O Co N c •U `t 0 c 4 }' Q o cu 0 > C +• a) c (U j D U O D a)C p c _D c� E 'O () U cfi O 4) cu (n a) a) cn }' O 0 a c a) a 0 E Q O p U -0 c O o (� c N N in C U a) O U a) Z � L _ D} +r O co • c C p co Z a �.+ O O a) }. p .. cn �' L p U U p L M > N = C C �, E a) C D O D cn �, () U cn — a) U O s — c cn U co V L L L a) O o 0 o a) U a) �-. U a) E cn +� W V a V U D U +� ~ C C a) a) }' OU cu L � C C c Q O Cy F- L o•+�r '�iO+ � C O L O O N a o 0 U L _ M (U co >j j c = E Cfl D U O am H O Q p CO a) N "D � o « ID C� O C = C� C � O L> 0 � Eoo3 .Q oc E m ° N s 4) v C E L . c ao p a o p O U U U a) z � c co m C C � C "} (� C c a) _cU 7E3 Wv UW -k o- e- U CL Q. i . Qo o ou -1'021 o_ r .;'._ - . YR - fi- ' -VL.f .. . - - e = r ` ..� s J i. ( 1 - , •f .I. . _ �. 'A 1 .. l'` P F �/ <• ■ 'L,L, , 1 �,! ; jr C 1 J l.Y. S r -. r' ! -.� I-1, •J ' j J 9 4 +! 1 1�'J it k F - r _ --1 I.y - t- , - Y r' 4 L-. f `� " - °_ _ ` ` } 1. F �.Thir'dI-dndrr ent to �' +, r'`' 4 > < k -,,I -s �. - f' I. .j tom'-T . . `2 7 j ",A j _rG .,4 _ Nover�b:er 16, 1993 Interlocal Cooperation =Agreement' t . - ` �r Y , e A: 1 Y Tr t . i ^r R.: t + Y. ,!,' .o- i- - . . .1,.., _ , . .l,- i .. - _ _. -, - p .. - - f. - - .I. - - ,.m 11 L.Y- 8. - - - -,)Ay - -1. I -� -,,e,I . I . .t..I" . . ,� - —. . . _.,-.I'--"7....... r� , �l .- S '� t y4 - 11r i 2. . R 3t t •f a .L - t ! -t I .. 4 1 - r �f ly It .. !• \ f [ -ii ti' .: T . it - �'j - - A r 7 .i- .,/ } ;r �L ; vi A ..r �. - ) .' \ f Vii. �-r fi A:'' � •i _ t: - _ - - ' :'R- - - ;,: - ae14-�g8 3S THIRD AMENDMENT TO THE INTERLOCAL COOPERATION AGREEMENT This Third Amendment to the Interlocal Agreement ("Third Amendment"), made this day of 2014 ("Effective Date"), by and among Miami-Dade County, a political subdivision of the State of Florida (hereinafter referred to as the "County"), the City of Miami Beach, a municipal corporation under the laws of the State of Florida (hereinafter referred to as the "City"), and the Miami Beach Redevelopment Agency, a public agency and body corporate created pursuant to Section 163.356, Florida Statutes (hereinafter referred to as the "Agency"). WHEREAS, the Miami-Dade County Board of County Commissioners (the "Board") adopted Resolution No. R-317-93 on March 30, 1993, approving, among other things, the City Center/Historic Convention Village Redevelopment and Revitalization Plan (the "Plan") and delegated certain powers conferred on the Board by Part III, Chapter 163, Florida Statutes (the "Act"), to implement the Plan to the Mayor and City Commission of the City of Miami Beach (the "City Commission"), all for the project area commonly called "City Center/Historic Convention Village Redevelopment and Revitalization Area" (such Area previously referred to in the Interlocal Agreement described below, as the "Project" and herein referred to as the "Redevelopment Area"); and WHEREAS, the Board also enacted Ordinance No. 93-28 on April 27, 1993, which among other things, established a trust fund ("Fund" or "Trust Fund") to fund improvements in the Redevelopment Area; and WHEREAS, the County and the City also approved and entered into the Interlocal Cooperation Agreement, executed on November 16, 199') (as amended by the First Amendment 4299801/2/MIAMI - -1 (defined below) and by the Second Amendment (defined below), the "Interlocal Agreement"), by which the County delegated to the City certain redevelopment powers granted by the Act, including but not limited to the creation of the Redevelopment Area and implementation of the Plan; and WHEREAS, the County and the City adopted Resolution No. R-889-03 and Resolution No. 2003-2537, respectively, approving an amendment to the Plan to incorporate the development and implementation of community policing initiatives; and WHEREAS, the Board, through Resolution No. R-889-03, and the City Commission, through Resolution No. 2003-25241, also approved an amendment to the Interlocal Agreement ("First Amendment") to delegate to the City the power to implement the community policing initiatives; and WHEREAS, the Board, through Resolution No. R-958-05, and the City Commission, through Resolution No. 2004-25560, also approved a second amendment to the Interlocal Agreement ("Second Amendment") whereby (1) the County, City, and Agency agreed that the Agency would remit one and one-half percent (1.5%) of the Tax Increment Revenue paid to the Agency for said fiscal year to the County to defray administrative costs for oversight and processing Agency related items, after debt service and all other obligations related to the bonds or future indebtedness issued by the Agency and approved by the County was satisfied for the fiscal year, and (ii) the County approved the Agency's issuance of refunding bonds in an amount not to exceed a principal amount of $101,090,000.00 to refinance all or a portion of the outstanding principal amount of bonds issued with respect to the Redevelopment Area; and WHEREAS, the County, City and Agency also desire to amend the Convention De v elopment Tax ( CDT ) In t er 1 oc al Agreement from 1996 as amended the 1996 CDT Interlocal Agreement") to, among other things, allow for the use of CDT revenues to pay for the operations and maintenance and debt service for the Convention Center Project (as such project is hereinafter defined); and NOW, THEREFORE, for and in consideration of the premises and the mutual covenants recorded herein, the County, the City and the Agency agree as follows: A. The recitations set forth above are true and correct and adopted as part of this Third Amendment. B. Paragraph III "City Responsibilities," subparagraph C, "Project Financing," sub- subparagraph 3, of the Interlocal Agreement is hereby amended to read as follows: 3. The City shall prepare and submit for County approval at the beginning of each County fiscal year the Project budget in a format approved by the County. The Board waives Section 3 of County Resolution No. R-871-11 requiring the Agency to submit timely budgets for approval by the Board prior to the Agency borrowing money, advancing funds or incurring indebtedness proposed to be repaid from or secured by the Agency's Tax Increment Revenues. C. Paragraph III "City Res onsibilites" subparagraph C "Project Financing" of the Y p � � J b� Interlocal Agreement is hereby amended to add the following sub-subparagraphs 6, 7 and 8, respectively: 6. The Board has approved and authorized pursuant to Resolution No. , adopted on , the issuance by the Agency of bonds pledging Tax Increment Revenue from time to time, in an aggregate principal amount not to exceed $430 million, and maturing not later than March 31, 2044, in one or more series (without regard to the year(s) of issuance, the "2015 Bonds"), which will provide funds for the following purposes only: a. the amount necessary to refund the outstanding Tax Increment Revenue Bonds, Taxable Series 1998A, Taxable Series 2005A and Series 2005B (collectively, the "Outstanding Bonds"); b. approximately $275 million to fund a portion of the design, development and construction of the Convention Center 3 project, (which project is currently estimated to cost a total of$582 million and is more fully described in Exhibit "A', attached hereto and incorporated herein by this reference (the "Convention Center Project"); C. approximately $36 million for the ancillary Redevelopment Area capital projects, which are more ftilly described in Exhibit "B," attached hereto and incorporated herein by this reference; and d. All costs of issuance and debt service reserves associated with the 2015 Bonds. 7. The parties agree that any Tax Increment Revenue shall be used in accordance with this Agreement. Any Tax Increment Revenue not used in accordance with this Agreement shall be refunded by the Agency to the taxing authorities in the same percentage as it was contributed, but solely from available Tax Increment Revenues after satisfying all obligations on or related to, Agency Indebtedness (as hereinafter defined). 8. In addition to the 2015 Bonds, the City also plans to issue City of Miami Beach Resort Tax Revenue Bonds and Parking Revenue Bonds to complete the financing required for the Convention Center Project. D. Paragraph V, "Board Approval," of the Interlocal Agreement is hereby amended to read as follows: Any approval required by the Board as to the annual budget, amendments to the Plan, or amount, duration and purpose of bonds, notes or other indebtedness for the Redevelopment Area shall not be unreasonably withheld, conditioned, or delayed, or adversely affect any matters previously approved either in a previous annual budget or pursuant to any previously approved bond, note or other form of indebtedness pledging or obligating Tax Increment Revenues. E. The Interlocal Agreement is amended to add the following Paragraph: 4 VII. Extension of Taxing Authorities' Payments. Except as specifically set forth herein, the obligation of each taxing authority to deposit into the Trust Fund pursuant to the Act solely for the uses authorized in the Amended Plan and this Interlocal Agreement is extended until the earlier of March 31, 2044, or the date Agency Indebtedness (as defined below) is no longer outstanding. F. The Interlocal Agreement is amended to add the following Paragraph: IX. Tax Increment District Extension The City and Agency represent that as of the Effective Date the only indebtedness pledging Tax Increment Revenues that remains outstanding are the Outstanding Bonds. The City and the Agency covenant and agree that the City or Agency, as the case may be, shall not issue any additional indebtedness, other than the 2015 Bonds, pledging Tax Increment Revenue unless and until such indebtedness has been authorized by the Board. The Outstanding Bonds, the 2015 Bonds and any additional indebtedness pledging Tax Increment Revenues authorized by the Board are collectively referred to in this Agreement and defined as the "Agency Indebtedness." The Agency, within ten (10) days after the maturity and payment or defeasance of all Agency Indebtedness, shall give,written notice to the taxing authorities that all Agency Indebtedness has been defeased or has matured-and been paid (the "Defeasance Notice"). The terms "defeasance" or "defeased," as used in this Agreement with respect to Agency Indebtedness, shall mean the legal release of the lien on the Tax Increment Revenues through the establishment of an irrevocable escrow in an amount sufficient to pay, when due, the Agency Indebtedness being refunded. The City, Agency and the County agree that the taxing authorities' obligation to contribute to the Fund will cease as of the date of the Defeasance Notice. The Agency shall distribute all revenues remaining in the Fund at that time only as provided and in the order of priority set forth in Paragraph XII of this Interlocal Agreement to the extent any of the required distributions set forth in such section remain unpaid for such fiscal year, with any revenues that remain after payment of all such amounts to be distributed to each taxing authority in the proportion that the amount of contribution by such taxing authority bears to the total amount contributed by all taxing authorities for that fiscal year. The Agency shall remit such revenues to the taxing authorities no later than thirty (3 0) days from the date of the Defeasance Notice. The parties agree that upon final distribution of all revenues in the Fund, the Redevelopment Area and tax increment district shall be 5 deemed terminated and the Agency will sunset and cease to exist as of such date. G. The Interlocal Agreement is amended to add the following Paragraph: X. Miami-Dade County or Other Taxing Authority Representation As required in Section 1 of County Resolution No. R-1382-09 and Section 2 of County Resolution R-871-11, and as provided in Section 163.357(1)(d) of the Florida Statutes, the Board shall have the right, in its sole and absolute discretion, to appoint a member of the Agency, who shall be the Commissioner of County Commission District 5, and such Commissioner shall be vested with the same rights, duties and obligations as any other Agency commissioner. Said membership on the Agency's board of commissioners shall be considered an additional duty of office as prescribed by Section 163.357(1)(d) of the Florida Statutes. Such appointment by the Board shall be immediate and will become part of the Agency's board of commissioners without further action from the Agency required. H. The Interlocal Agreement is amended to add the following Paragraph: 6 XI. The Children's Trust Exemption The County, the City and the Agency agree that pursuant to Section 2-1742 of the Code of Miami-Dade County, The Children's Trust, an independent special taxing district, shall be exempt from the provisions of Section 163.387(2)(a) of the Florida Statutes, commencing the earlier of March 31, 2023, or the date that the Outstanding Bonds are defeased or mature and are paid. If required, the parties further agree to negotiate and execute an amended interlocal agreement with The Children's Trust to codify the terms and condition of such exemption. Annual Tax Increment Revenues attributable to The Children's Trust shall not be pledged by the Agency toward the repayment of the 2015 Bonds or any new indebtedness pledging Tax Increment Revenues approved by the Board. Until such time as The Children's Trust is exempt from the provisions of Section163.387(2)(a) of the Florida Statutes, the provisions of the Interlocal Agreement among the City, Agency and County as adopted by the Board on July 27, 2004 (Resolution No. R-973-04), as fully described in Exhibit C, apply to the distribution of the Tax Increment Revenues attributable to The Children's Trust. I. The Interlocal Agreement is amended to add the following Paragraph XII. Distribution of Trust Fund Revenues All Tax Increment Revenues shall be deposited in the Trust Fund as required by law, and the parties agree that all funds in the Fund shall be distributed annually, only as provided and in the order of priority as set forth below: A. Beginning Fiscal Year 2014-15, to pay the first $500,000 in current expenses and debt service, reserve deposits and other costs and obligations associated with the Outstanding Bonds until such time as the Outstanding Bonds have been refunded or are no longer outstanding. B. Beginning Fiscal Year 2014-15, to remit to The Children's Trust the legally available portion of Tax Increment Revenues attributable to The Children's Trust until exemption, or until such time as the Outstanding Bonds have been refunded or are no longer outstanding. C. Beginning Fiscal Year 2014-15, to pay debt service, reserve deposits and other costs and obligations associated with the 2015 Bonds and any other Agency Indebtedness. 7 D. In addition to the annual funding that the City currently receives from Convention Development Taxes, pursuant to Section II.A.1 of the 1996 CDT Interlocal Agreement, beginning in FY 2017-18, and ending the earlier of the termination or expiration of the taxing authorities' obligation to appropriate Tax Increment Revenues to the Fund, or the date that the Convention Center is no longer in operation as a publicly owned convention center, the Agency shall remit to the City a Convention Center operating and maintenance subsidy in the annual amounts for such years set forth below. For FY 2017-18, the amount of the annual subsidy is equal to $1 million. This amount will increase by $750,000 each fiscal year thereafter until it equals $4 million in FY 2021-22. For FY 2022-23, through and including FY 2024-25, the annual subsidy will remain equal to $4 million. Beginning FY 2025-26, and ending the earlier of the termination or expiration of the taxing authorities' obligation to appropriate the Tax Increment Revenues to the Fund or the date that the Convention Center is no longer in operation as a publicly owned convention center, the annual subsidy shall equal the prior fiscal year's annual subsidy adjusted by the lesser of the Miami Urban Area CPI to be calculated using the Miami Fort Lauderdale All Urban Consumers CPI from July to June for the prior year or 4 percent annually. The City and the Agency agree that such funds shall only be used to fund operating and maintenance costs of the Convention Center. Notwithstanding and prevailing over any provision to the contrary herein, if the County grants CDT funds to the Agency or the City pursuant to Section II.A.3 of the CDT Interlocal for the purpose of funding Convention Center operating and maintenance costs such amount referred to as (the "CDT Grant"), the annual subsidy payment to be funded with increment revenues pursuant to the prior paragraph shall be reduced by an amount equal to the CDT Grant. E. Beginning FY 2023-24, and until the earlier of March 31, 2044, or the termination or expiration of the taxing authorities' obligation to appropriate the Tax Increment Revenues to the Fund, the Agency agrees to grant to the County an amount equal to the County's proportionate share of the total payments expended by the Agency in the prior fiscal year for Administration, Community Policing, i 8 and Capital Project Maintenance (defined below). Such grant shall be paid to the County by March 31 of each year and shall be based on the previous year's expenses for Administration, Community Policing, and Capital Project Maintenance. The amount granted annually shall be calculated as follows: The County's share of total Tax Increment Revenues deposited into the Trust Fund for that particular year divided by the total Tax Increment Revenues collected from all taxing authorities and deposited in the Trust Fund for that particular year, multiplied by the amount of expenses paid by the Agency in the previous fiscal year for Administration, Community Policing and Capital Project Maintenance. F. Beginning in FY 2014-15, and ending on the earlier of termination or expiration of the taxing authorities' obligation to appropriate Tax Increment Revenue to the Fund, Tax Increment Revenues shall fund the Agency's expenses for Administration, Community Policing, and Capital Project Maintenance, defined to include only those categories listed in the Agency's FY 2013-14 adopted budget approved by the Board pursuant to County Resolution No. R-512-14, a copy of which is attached hereto -as Exhibit D and is incorporated herein by this reference. For fiscal year 2014-15, the use of Tax Increment Revenues for such expenses shall not exceed $11.721 million which has been adjusted for CPI as defined below, of which $11.251 Million is the aggregate amount budgeted for these items, as referenced in Exhibit D plus an additional $200,000 for Capital Project Maintenance (which shall not be used for maintenance of the Pennsylvania Avenue Shops and Garage). Beginning fiscal year 2015-16, the use of Tax Increment Revenues to fund the Agency's expenses for Administration, Community Policing, and Capital Project Maintenance shall not exceed the prior fiscal year's distribution for such expenses of S1 1.721 million, adjusted by the lesser of the Miami Urban Area CPI or 3 percent annually to be calculated using the Miami Fort Lauderdale All Urban Consumers CPI from July to June for the prior year. Additionally the Agency will pay the County an administrative fee based on 1.5 percent of the County's Tax Increment Revenue contribution in that year. The Agency will also pay the City 9 1.5 percent of the City's Tax Increment Revenue contribution in that year. G. In FY 2014-15 and FY 2015-16, respectively the Agency will reimburse the City for the Bass Museum and Lincoln Road prior project costs of 51,288,032.62 in FY 2014-15, and 51,286,464.26 in FY 2015-16. H. Beginning FY 2014-15 and ending on the earlier of March 311 2023, or the termination or expiration of the taxing authorities' obligation to appropriate Tax Increment Revenue to the Trust Fund, the Agency shall, within ninety (90) days from the conclusion of each fiscal year, deposit any unencumbered amounts on deposit in the Trust Fund and all available revenues remaining after distribution of Tax Increment Revenues in the order, priority and amounts set forth in Sections A through G above, into a fund to be used for the purposes of financing any shortfalls associated with the payment of the expenses as listed in Section F above. Such deposits to such fund shall only be made if it will not negatively affect the exclusion from gross income, for federal income tax purposes, of interest on any tax- exempt Agency Indebtedness. All other remaining revenues will be .used to extinguish Agency Indebtedness early, but not prior to FY 2023-24, to the extent such Agency Indebtedness is subject to prepayment or redemption prior to maturity at such time or, if such Agency Indebtedness is not then subject to prepayment or redemption prior to maturity, to establish an escrow for the prepayment or redemption prior to maturity of such Agency Indebtedness at such time as the Agency Indebtedness is subject to prepayment or redemption prior to maturity; provided, however, that such escrow shall only be established if it will not negatively affect the exclusion from gross income, for federal tax purposes, of interest on any such tax-exempt Agency Indebtedness. The City and the Agency agree not to issue Capital Appreciation Bonds or similar debt that does not pay interest on a current basis. The City and the Agency also agree that any Agency Indebtedness pledging Tax Increment Revenues issued for the purposes set forth herein shall include a call provision allowing such Agency Indebtedness to be called no later 10 than ten (10) years after initial issuance. If the Agency Indebtedness is not subject to repayment or redemption prior to maturity, and an escrow cannot be established, then the Agency shall distribute annually any revenues remaining on deposit in the Fund after distribution as set forth in Sections A through G above, to the taxing authorities in the proportionate manner as it was deposited. I. Beginning FY 2023-24, and ending on the earlier of March 31, 2044, or the termination or expiration of the taxing authorities' obligation to appropriate Tax Increment Revenues to the Fund, the Agency shall, within ninety (90) days from the conclusion of each fiscal year, use any unencumbered amounts on deposit in the Trust Fund and all available revenues remaining after distribution of Tax Increment Revenues in the order, priority and amounts set forth in Sections A through G above to extinguish Agency Indebtedness early, to the extent such Agency Indebtedness is subject to prepayment or redemption prior to maturity at such time or, if such Agency Indebtedness is not then subject to prepayment or redemption prior to maturity, to establish an escrow for the prepayment or redemption prior to maturity of such Agency Indebtedness, at such time as the Agency Indebtedness is subject to prepayment or redemption prior to maturity; provided, however, that such escrow shall only be established if it will not negatively affect the exclusion from gross income, for federal tax purposes, of interest on any such tax-exempt Agency Indebtedness. The City and the Agency agree not to issue Capital Appreciation Bonds or similar debt that does not pay interest on a current basis. The City and the Agency also agree that any y Q Agency Indebtedness pledging Tax Z--) Increment Revenues issued for the purposes set forth herein shall include a call provision allowing such Agency Indebtedness to be called no later than ten (10) years after initial issuance. If the Agency Indebtedness is not subject to prepayment or redemption prior to maturity, and an escrow cannot be established, then the Agency shall distribute annually any Tax Increment Revenues remaining on deposit in the Fund after distribution as set forth in 11 Sections A through G above to the taxing authorities in the proportionate manner as it was deposited. J. The Interlocal Agreement is amended to add the following Paragraphs: XIV. Inspector General Review A. Independent Private Inspector General Reviews Pursuant to Miami-Dade County Administrative Order 3-20, the County has the right to retain the services of an Independent Private Sector Inspector General (hereinafter "IPSIG"), whenever the County deems it appropriate to do so. Upon written notice from the County, the Agency shall make available to the IPSIG retained by the County, all requested records and documentation pertaining to this Third Amendment for inspection and reproduction. The County shall be responsible for the payment of these IPSIG .services, and under no circumstance shall the Agency incur any charges relating to these IPSIG services. The terms of this provision herein, apply to the Agency, its officers, agents, employees, Subcontractors and assignees. Nothing contained in this provision shall impair any independent right of the County to conduct an audit or investigate the operations, activities and performance of the Agency in connection with this Third Amendment. The terms of this Article shall not impose any liability on the County by the Agency or any third party. B. Miami-Dade County Inspector General Review According to Section 2-1076 of the Code of Miami-Dade County, as amended by Ordinance No. 99-63, Miami-Dade County has established the Office of the Inspector General which may, on a random basis, perform audits on all County agreements, throughout the duration of said agreements, except as otherwise provided below. Nothing contained above shall in any way limit the powers of the Inspector General to perform audits on all County agreements including, but not limited to, those agreements specifically exempted above. The Miami-Dade County Inspector General is authorized and empowered to review past, present and proposed County and Agency contracts, transactions, accounts, records, agreements and programs. In addition, the Inspector General has the power to subpoena witnesses, administer oaths, require the production of records and monitor existing projects and programs. Monitoring of an existing project or program may include a report concerning whether the project is on time, within budget and in conformance with plans, specifications and applicable law. The Inspector General is empowered to analyze the necessity of and reasonableness of 12 proposed change orders to a contract. The Inspector General is empowered to retain the services of independent private sector inspectors general (IPSIG) to audit, investigate, monitor, oversee, inspect and review operations, activities, performance and procurement process, including but not limited to project design, specifications, proposal submittals, activities of the Agency, its officers, agents and employees, lobbyists, County staff and elected officials to ensure compliance with contract specifications and to detect fraud and corruption. Upon written notice to the Agency from the Inspector General or IPSIG retained by the Inspector General, the Agency shall make all requested records and documents available to the Inspector General or IPSIG for inspection and copying. The Inspector General and IPSIG shall have the right to inspect and copy all documents and records in the Agency's possession, custody or control which, in the Inspector General's or IPSIG's sole judgment, pertain to performance of the contract, including, but not limited to original estimate files, change order estimate files, worksheets, proposals and agreements form and which successful and unsuccessful Subcontractors and suppliers, all project- related correspondence, memoranda, instructions, financial documents, construction documents, proposal and contract documents, back-charge documents, all documents and records which involve cash, trade or volume discounts, insurance proceeds, rebates, or dividends received, payroll and personnel records, and supporting documentation for the aforesaid documents and records. K. All provisions of the Interlocal Agreement, other than the provisions specifically amended herein, remain in full force and effect. r [SIGNATURES APPEAR ON THE FOLLO`VING PAGE] 13 IN WITNESS WHEREOF, the parties have executed this Third Amendment as of the date first written above. CITY OF MIAMI BEACH MIAMI-DADE COUNTY y.. ' By: ,� B y: Philip e Carlos A. Gimenez a y Mayor ATTEST ATTEST ' . i INGORP ORATED ity Clerk n' Y . �-° ° Deputy Clerk 1`.3i MIAMI BEACH REDEVELOPMENT Approved for form and legal sufficiency AGENCY [Yr� C�j'd,r• �rt By B J i .I JJ PtI • � e Assistant County Attorney a an k E3 Attes � .� By: City Clerk .INCOME' ORATER: 1_ Approved for form and legal sufficient �,. By City Attorney 14 I __ Exhibit"A" Convention Center Project Convention Center Renovation and Expansion The Convention Center Project will modernize and upgrade the Convention Center facility and surrounding area to be more competitive within the trade/consumer show and convention industries. The project to reconstruct, construct, reconfigure, modernize and expand the Convention Center and related/accessory facilities including the siting of private lodging facilities near or adjacent to the facility may include, but not be limited to: redesign and reconstruction of the convention center building and site; upgrading media, communications, and other area technology; alterations to on and off site parking; on site and off site aesthetic improvements; expansion/addition or reconfiguration of facilities to include a ballroom or similar amenities; operation and maintenance of facilities for a period during and after construction, location or relocation of other area facilities directly related to the Convention Center and/or its ability to attract additional users. A-1 Exhibit "B" $36 Million Ancillary Projects City of Miami Beach Redevelopment Agency List of Ancillary Projects Bass Museum Interior Space Expansion: Renovation of Bass Museum interior to increase programmable space by 47% Estimated Cost: $3,750,000 Convention Center Lincoln Rd Connectors & 17th St N. Improvement Penn Ave to Wash: Enhance the pedestrian experience from the Convention Center complex to Lincoln Road along Drexel Avenue, Pennsylvania Avenue and Meridian Avenue. Work to consist of new lighting, sidewalk reconstruction, street furnishings, landscaping, healthy tree fertilization systems, road reconstruction, cross walk enhancements. Improvements to 17th Street from Pennsylvania Avenue to Washington Avenue will consist of landscaping, irrigation, pedestrian lighting and sidewalk replacement. Estimated Cost: $12,000,000 Lincoln Rd / Washington Ave to Lenox Ave: Refurbishment of Lincoln Road pedestrian mall from Washington Avenue to Lenox Avenue. Work to consist of new lighting, refurbishing pedestrian surfaces, street furnishings, healthy tree fertilization systems, milling and resurfacing pavement surfaces and cross walk enhancements. Estimated Cost: $20,000,000 A-2 Exhibit"C" Children's Trust Interlocal B-1 r INTERLOCAL AGREEMENT AMONG CITY OF MIAMI BEACH, MIAMI BEACH REDEVELOPMENT AGENCY, MIAMI-DARE COUNTY,FLORIDA THE CHILDREN'S TRUST, i This Interlocal Agreement ("Agreement") is among the City of Miami Beach, Florida (the "City"), t:h:e .Mami:::Bea, .ch.:. Redevel.:.; menu Agency (th e "CRA"), Miami- Dade County, Florida (the "Ciounty" and The Children's Trust, Miami-Dade County (" The Trust"), an independent special taxing district, for the purpose of establishing the use of tax increment revenues to be derived from the imposition of a half mill tax levy by The Trust against real property located within the jurisdictions of the CRA (the "Trust Revenues"), WHEREAS, The Trust was established as a result'of a county-wide referendum in which the electors of the County approved the creation of The Trust and its imposition of a not to exceed half mill tax levy against all non-exempt real property in Miami-Dade County for the purpose of funding improvements to children's health, development and safety and promoting parental and community responsibility for children who reside in Miami-Dade County; and WHEREAS, Chapter 163, Part III, Florida Statutes, also known as the Community Redevelopment Act of 1969 (the "Act"), provides for the creation of community redevelopment agencies and governs the use of moneys in the redevelopment trust funds created in accordance with the Act(each, a"Fund"); and WHEREAS, the City Commission accepted a delegation of powers from the Miami-Dade County Board of Commissioners (the "Board"), found a need for and created the CRA to have jurisdiction over all of its community redevelopment districts, declared members of the City Commission to be the members of the Agency, granted the Agency the power to exercise certain powers permitted by the Act to the extent delegated by the Board to the Agency and directed the initiation, preparation and adoption of community redevelopment plans by the Agency for its two community redevelopment districts known as City Center/Historic Convention Village and South Pointe ("CRA Districts"); and WHEREAS, the CRA has various series of community redevelo went revenue bonds currently outstanding.in the aggregate principal amount of $j, (the "Bonds") issued under certain bond resolutions (the "Bond Resolutions") to which the CRA has pledged all current and future tax increment revenues the CPA is entitled to receive pursuant to. the Act from all non-exempt taxing authorities including tax increment revenues from, any additional tax levies created subsequent to the issuance of the Bonds such as The Trust Revenues; and WHEREAS, the City has pledged certain City revenues to the holders of the Bonds as a additional security for the Bonds; and WHEREAS; as an independent special taxing district, The Trust is eligible le to share in any tax increment revenues not budgeted for a particular use and remaining at the end of the CRA's fiscal year in the Fund established for each CRA community redevelopment district; and WHEREAS, the Board enacted Ordinance No. 03-210 (the "Ordinance") with an effective date of October 17,,2003 that established a policy that before the Board will consider any matter concerning a community redevelopment agency, including the approval of an annual CRA.budget, a governing body such as the City shall first exempt The Trust pursuant to the Act from having to deposit its Trust Revenues with the community redevelopment agency; and WHEREAS, the City is unable to obtain review of its matters, including the CRA budget, by the Board because it cannot comply with the Ordinance without violating the CRA's pledges to the holders of the Bonds that requires all present and future tax increment revenues from each CRA District to be available for the repayment of debt service on the Bonds relating to such CRA District; and WHEREAS, the City, the CRA and the County wish to assist The Trust and to effectuate the will of the electorate by agreeing to remit The Trust Revenues to The Trust pursuant-to the provisions of this Agreement; and WHEREAS, approximately ten percent (10%) of the ad valorem tax revenue collected in Miami-Dade County is from residents of the City and; WHEREAS, The Trust collects approximately $6 million in ad valorem tax revenues from the residents of the City which is ten percent (10%) of the ad valorem tax revenue it collects and; WHEREAS,there are children and families who reside in the City and are in need of the services described in The Trust's Strategic Framework 2003-2007 and there are a number of agencies which may provide quality services to these children and families if provided financial assistance; and WHEREAS, in exchange for the City's and the CRA's cooperation, The Trust will make funds available for children's programs within the City in the amount of The Trust Revenues annually upon the conditions set forth in this Agreement; and WHEREAS,the City, the CRA, the County and The Trust desire to enter into this Agreement in order to establish their cooperation and.agreement with respect to the use of The Trust Revenues, NOW THEREFORE,the parties agree as follows: Section 1. The recitals above are-incorporated in Section 1 of this Agreement. Section 2. The City, the CRA and the County agree that the CRA shall: (i) use The Trust Revenues for debt service on, and other obligations relating.to, the Bonds under the applicable Bond Resolutions only after all other tax increment revenues under the applicable Bond Resolutions have been exhausted for such purpose; and (ii) remit to The Trust on the last day of the CRA's fiscal year, all of the Trust Revenues that are not needed for debt service on, and other obligations relating to, the Bonds under the applicable Bond Resolutions and are eligible to be refunded pursuant to the Act, and the applicable Bond Resolutions. Section 3. The Trust will make available funds in the amount-of Trust Revenues annually for programs and services to children and families within the City, through a competitive process, to the City and/or agencies and organizations that provide said_programs and services within the City. However, in order to receive funding, the City and/or agency or organization must provide a program or service that falls within The Trust's funding priorities and quality standards. The City and/or. agency or organization is in no way restricted from participating in, and shall not be prejudiced by, any and all other competitive funding opportunities offered by The Trust. Section 4. This Agreement shall be effective upon execution by all parties and shall continue for as long as The Trust is in existence and can levy ad valorem taxes. Section 5. This Agreement is made in the State to of Florida and shall be governed according to the laws of the State of Florida. Proper venue for this Agreement shall be Miami-Dade County, Florida. Section 6. Any alterations, variations, modifications, extensions or waivers of provisions.of this Agreement shall only be valid when they have been reduced to writing, duly approved and signed by both parties and attached to the original of this Agreement. Section 7. This Agreement is signed in four (4) counterparts, and each counterpart shall constitute an original of this Agreement. Section 8. This Agreement contains all the terms and conditions agreed upon by the parties. No other Agreement, oral or otherwise, regarding the subject matter of this Agreement shall be deemed to exist or bind any of the parties hereto. If any provision of this Agreement is held invalid or void, the remainder of this Agreement shall not be affected thereby if such remainder would then continue to conform to the terms and requirements of applicable law. w-� IN WITNESS WHEREOF,the parties have caused this Agreement to be executed by their respective and duly authorized officers as of the day and year first above written. (SEAL) ATTEST: C I BEACH, FLORIDA C ' obert Parcher,City Clerk David Dermer, Mayor ATTEST: IA I B CH REDEVELOPMENT AGENCY Secretary has an ATTEST: MIAMI-DADE COUNTY,FLORIDA C tQgrk Signat6ie of A-t orized Representative C 0 � `k' 1 0 o A a U .� F �_ Print Name and Title 77 n G 8 p �G P h�°4oe6sa4 ATTEST: THE CHILDREN'S TRUST, MIAMI DADE COUNTY Valria C. Screen, Secretary Modesto E. Abet,jPesident 0 APPROVED AS TO r.i FORM&LANGUAGE &FOR EXECUTION City Alto m tr Date Exhibit"D" Resolution No.R-512-14 City Center FY 2013-14 Budget A-2 OFFICIAL FILE COPY CLE-RK OF THE BOARD j OF COUNTY C*WWSSIONE.RS WA-Ml-DADS G_4tJ,' FLORIDA MEMORANDUM Agenda Item No. g(G)(l) TO: Honorable Chairwoman Rebeca Sosa DATE: June 3,2014 and Members, Board of County Commissioners ! FROM: R. A. Cuevas, Jr. SUBJECT: Resolution approving Miami County Attorney Beach City Center Community Redevelopment Agency Fiscal Year 2013-14 budget Resolution No. R-512-14 The accompanying resolution was prepared by the Office of Management and Budget and placed on the agenda at the request of Prime Sponsor Finance Committee. R. A. C evas, County Attorney RAClsmm 1 - i M IAA!l1r3AD ' Memorandum d Date: June 3,2014 To .Honorable:Cha rwaman Rebeca-Sosa and Its embers, Board of Count missioners ! .From:. .Carlos A. Gimenez Mayor 'Subject: ;FY 2013-14 Budget for the..Miami ch City C:en:ter Community Redevelopment j Agency. I RecomMendation It is recommended that°the Board- -of County. Commissioners (Board) consider -approving the Miami Beach ,City-Center-Gornmunity Redevelopment.Agency's (Agency's) FY 2011-14 ,budget for the City Canter Community.RedevelopmontArea(Area). Scope of Agenda Iterrr The:Area lies within Commission District 5, which,is represented by Ccmmiss�ioner Bruno A. Barreiro. Fisca! Impact 1:Fundinq Source. The Agency's revenue source is `tax. increment financing' (`T'I.F), which. is .generated through the incremental'.growth of ad valorem revenues beyond an established base year, as defined in Section 153.387 of the-Florida State Statutes. County:and City of UaMl Beach' (City).tax increment.revenues. deposited into th'e trust fund for FY 2013-14 total$15,918,000-a.nd'$19;840.,000, respectively,, The County-will continUe to. make annual' paymnts to the Agency, based:on each respective year's growth of ad valorem revenues over the base year; through 2023., when the:Agency wilt sunset.. 'Track Record 1 Monitor: This resolution doses not provide for contracting with: any .specific.entity. Thee resolution approves-the. Agency's FY'201&-14 budget.. Background On..J.anl aey 26, 1.993, 'the.Board approved the establishment.of the-Agency When it declared the Area V he slum-and blighted pursuant to.:Resolution R-14-.03, The Board approved the Agency's.Community Redevalopment Plan (.Plan) and its funding when it-enacted Resolution R=317-93 and Ordinance 93-281 respectively, An Interiocal Agreement:arnong the County, fhe City; and the Ag.e:hcy and it-he'Plan.were- approved by the Board on March`*30, 1993, requiring the Agency to subr it an.annual"budget for Q.ounty approval. FY 2013-14 Budge# j The Agency's, FY 2.013-14:budget is.$43,00.0,0.00 which was approved by the-Agency on .September 30, 2013. The budget includes revenue- sources of County TIF Revenues. ($15.,918,000..), Clty 'OF Revenues. ($1-9,840',000. ), Resort Tax Contributions(.$5,386;00D), a: 1/2 mill levy to.be set aside fo.r the Children's Trust($1,.831,000), and interest earnings{.$-25;000). Administrative expenditures for-the Agency's operations, including the City.Administrative Charge for general oversight ($283,000), total $2,244,000 and.. represent approximately five percent of total budgeted e�cpenditures, excluding .the 1.5 percent County Administrative Char..ge ($239,0d0), which is less than the:20 percent:allowed in the Interlocal Agreement. 2 I i Honorable Chairwoman Rebeca Sosa and Members, Board of County Commissioners Page 2 Operating expenditures total $39,791,000 and are broken down as follows: • $18,443,000 for Capital Projects including: • Collins Park Parking Garage ($12,242,000); • Bass Museum Interior Space Expansion and Capital Contribution ($4,797,000); • Euclid Avenue Improvements at Lincoln Road ($69,000); • City Center—Various sidewalk and street improvements Commercial District ($326,000); • Lincoln Road Master Plan Study ($500,000); • City Center Legal Fees ($350,000); and • Agency's Capital Fund Balance Shortfall ($2,390,000). • Additionally, the capital project fund credit of $2,231,000 is a result of projects that were underspent and closed out. i • $9,922,000 for debt service including: • Series 2005 Bonds and the combined debt service on the Parity Bonds ($8,550,000); • Sunshine State Loan for the reconstruction/renovation of Lincoln Road ($825,000); and • Loans for the Bass Museum Project ($547,000). • $305,000 to Pennsylvania Avenue garage and shops to offset operational costs. • $4,195,000 for community policing that includes ten police officers, two sergeants, two public safety aides, a crime analyst and a part-time lieutenant providing community policing exclusively within the Agency seven days a week. • $5,095,000 for maintenance of Agency capital projects constructed with TIF funds (Lincoln Road, Beachwalk Project, and Collins Park facilities). • $1,831,000 as the Children's Trust Remittance. The Agency's budget includes a contingency reserve of$384,000. The Agency's FY 2012-13 expenditures created an initial unaudited fund balance deficit of $341,237. Therefore, it is accounted for in FY 2013-14 ($342,000). The Agency is in the process of auditing the current fiscal year and believes there will be no deficit. Edward Ma u Deputy Mayor Attachments Mayor0351 4 3 MEMORANDUM i (Revised) t TO: Honorable Chairwoman Rebeca Sosa DATE: June 3, 2014 and Members,Board of County Commissioners i FROM: R.A.C as,Jr. SUBJECT: Agenda Item No. g(G)(1) . County Attorney Please note any items checked. f63-Day Rule"for committees applicable if raised 6 weeks required between first reading and public hearing 4 weeks notification to municipal officials required prior to public hearing Decreases revenues or increases expenditures without balancing budget Budget required Statement of fiscal impact required Ordinance creating a new board requires detailed County Mayor's report for public hearing No committee review Applicable legislation requires more than a majority vote(Le.,213's 3J5's ,unanimous )to approve Current information regarding funding source,index code and available balance,and available capacity(if debt is contemplated)required 4 ' j Approved _ Maw Agenda Item No. g(G)(1) Veto 6-3-14 Override RESOLUTION NO. R-512-14 i RESOLUTION APPROVING MIAMI BEACH CITY ` CENTER COMMUNITY REDEVELOPMENT AGENCY FISCAL YEAR 2013-14 BUDGET WHEREAS, the Interlocal Cooperation Agreement between Miami-Dade County, Florida (the "County"), City of Miami Beach (the "City"), and the City Center Community Redevelopment Agency(the"Agency"),approved on March 30, 1993,requires that the City and Agency transmit its adopted annual budget to the Board of County Commissioners of Miami- Dade County,Florida(the`Board")for approval;and WHEREAS,the Agency and its counsel have determined that afl expenditures associated with the attached budget are allowable under the Redevelopment Plan, Interlocal Agreement and Florida State Statute;and WHEREAS, this Board desires to approve the Agency's adopted annual budget for Fiscal Year 2013-14,for the City Center Community Redevelopment Area(the`Budget!%-in the form attached hereto as Exhibit 1,and incorporated herein by reference;and WHEREAS,this Board desires to accomplish the purpose outlined in the accompanying memorandum,a copy of which is incorporated herein by this reference, NOW, THEREFORE, BE IT RESOLVED BY THE BOARD -OF COUNTY COADUSSIONERS OF 1VIIAIVII-DADS COUNTY, FLORIDA, that the Board approves the Agency's annual adopted budget for fiscal year 2013-14, related to the City Center Community Redevelopment Area. 5 Agenda Item No. 8(G)(1) Page No. 2 The foregoing resolution was offered by Commissioner Lyn.Bell who moved its adoption. The motion was seconded by Commissioner Jose "peps" Dliz and upon being put to a vote,the vote was as follows: Rebeca Sosa, Chairwoman aye Lynda Bell,Vice Chair aye Bruno A. Barreiro absent Esteban L. Bovo, Jr. aye Jose"Pepe" Diaz aye Audrey M. Edmonson aye Sally A. Heyman aye Barbara J. Jordan aye Jean Monestime aye Dennis C. Moss absent Sen.Javier D. Souto aye Xavier L. Suarez aye Juan C.Zapata absent The Chairperson thereupon declared the resolution duly passed and adopted this P day of June, 2014. This resolution shall become effective ten (10) days after the date of its adoption unless vetoed by the Mayor, and if vetoed, shall become effective only upon an override by this Board. MIAMI-DADE COUNTY,FLORIDA BY ITS BOARD OF COUNTY COMMISSIONERS CP HARVEY RUVIN, CLERK a .e COUNTY Chiht her 'rip *.* By: Deputy Clerk Approved by County Attorney as S to form and legal sufficiency. David Stephen Hope 6 i MIAM] BEACH, aty of Miaww ftoch,1700.'Gw"wion"O&nter Driver W ftl%ath,Florida 331",.wr+rw.rhiamibwCW4 av Miami Beach Redevelopment Agency Ted.:(3051673-7477,Fax: 305)671706S i :November 6,20'13 Mr Jo .a M:Fernandez Program Coot� inator office Qf!U(ahagemei�t& Budget 111..HW 1 Street, 22"d Floor Wrn.l, FL. 33120 RE: City Center Redevelopment Area -.FY 20IN14 Budget Submittal Dear Ivi_r. Fernandez; Enclosed is the Miami Beach Redevelop(hentAgency's Resolution packagesadopting the FY 2013/14 Operating and "capital Budgets in the -county's preferred format 1696ther Wth Qu( status report. The .'Budget was adopted. by the RDA Board -on September 30, 2013. It should. be noted that the most current year=end Financial Statements, dated Septem. b6r 30, 2012, have already been forwarded to the.County and are also.available on lihe. The Financial Statements for 2013 will be available as of Marolh 30,2014~ 'lease:advise as to the Gounty'schedule.for reviewing-and.approving the enclosed fudge`. In-the meantime, should you have any questions, please do not.hesitate to contact me. �lpcerel�; Kathie Brooks Assistant Director KG0.MAS;GPH Fricla�u�s C: Jimmy Morales,Executive Director Max Sklar Redevelopment Coordinator John.Woodniff,.OBPI Director Georgette Deniels,Senor'M&$.Analyst F AWFD1$ L RDA1RDA BudgO=1.3-14\FY 13 U Budget Transmutal RegUest CoUniy doc We are cammlttod to provldItU lac Am pu6t- 10 a#who hve.war.,and ploy in=Amat eropkat hlsbac communk,, 7 MIAMI BEACH! REDEVELOPMENT AGENCY FY 2013114 PROPOSED BUDGET i (AS ADOPTED ON.-SEPTEMBER 30, 2013) CITY CENTER.REDEVELOPMEW AREA i 124 1• 1 1• ..J Mid• L1:Lj_]j . Vet t � :Submitted The Miami aeach'Recievelo en B� �m !Agency 1,700 Conventiod n Center.drive Miami Beach, Fi 33139 8 i i I Miami Beach Redevelopment Agency Adopted.Annual, Budget:for Cite Center FY 2013/14 Content'. SECTION Budget Narrative. 1 And Annual Project Area Status Report IFY 201.3/14.Operating Budget as adopted by-the RDA Baard'on.09/3011 3(;County Format) 2 FY.2013114 Operating Budget as adopted by the RDA Board on 09/30113 (RDA Format) 3 Capital Project Summary and Five-Year Plan. 4 Capital Maintenance Summary 5 Community Policing Budget 0 Organizatlohal Chart- 7 Adopted FY 2013/14 RDA.Operating Budget Resolution Packages 8 FY 24.13/14 Operating Budget as adopted on 09130/13 FY 2013114 Capital Budget:adopted on 09/30/13 Adopted'FY 20121'13 RDA Operating Budget Amendment Package .Adopted on 7117/13 9 Financial Report- Fiscal Year ended September 30,2042,.prepared by R$M MoQladrey: 9 i MIAMI BEACH REVELOPMENT AGENCY CITY CENTER REDEV LOP PENT AREA FY 2013 M4 OPERATING BUDGET AND TAT�l FtEP���T WessionlPurlMse Statement To assure corifinued econorhie'viabirity of the City Center Redevelopment Area and the City ss :a. Wholo, through the implementation of the objectives and projects d ried In the Redevelopment Plan and the amendment thereto. • To i'nour minWum relocation and condemnation. •. To€tnrolve community residents in the redevelopment.process. • To establish: the necessary linkage$ to tie-in- the Convention ant®r, area hotels, cultu l amenities,tntertatnmerit,Msldential and business uses in th®.dCstriot., + To enhance diversity;of form and activity through.the use of.established planning.and design princl,ples. o To oreate a traft system to servo local and th«high traffic.needs. l To recooniie the histo ip structdtes and.designations within the historic districts and WOW e dovOlOp font accordingly, Status Repc►lrt The 332-acre Cty Center/Historlc,Convention Village Red&elppment,. d:.l e�t,teli'zatlon. Area (CC/HCVRRA or City Center) was established in 1993, :.....: . . in ordor to provide .the funding mechanism to foster the development of. new convention, hotel development W'hin proximity' of the Miami ®each- convention .Center and to establish the necessary linkages between. the City's many , core area civic, cultural and entertainment rases In order W. create the fabric of:a true urban downtown. Since its`inception, the Clay Center Redeve.Iopment Area:has undergone dynamic change through a combindoh cf publlo. and private.Investment inWativQs. Exdt.Irlq projects WhM have transformed'the.4e0.fhclod. • Two convention-quality hotels, both of which were the result. -,of -publielprivate t 1 partnerships be# ieen the Redevelopment Agency (ILIA) and the respective Developers-'the 800-zoom.Lofts.Miami.Beach Motel.arid the 428-room RoYel Palm 10 -- i Crowne PlAm.Hotel.,.the latter of which had the distinctfon of bel.ng:the first African- American owned Dote In the U'n ted.States; • The davei4Rment of °fin Sfla-space public parking..garage: (Anchor Garage) acco.mmodete:the a�ir3o... c�eQ far xhe: LpBr�rs.i�liahli rich Hotel; the Crowns Plaza Hotel and other service aetail �uie in snes e-area; • A $20 million overhaul of Lincoln Road, partially .fuhded -with the participation of businesses on Lincoln Road; An.awarc wlinnir�g.6eachw4lk .extending fro m.21st meet _ - - to Lummus Park, .cx,mprising an At-grade,. landscaped pedestrian walkway; • Implementation of a Cultural:Arta Gatnpua :Nester i?la `'' for the area Bast. of the Miami .Beach Convention Center, which indlude a now regional library, the headquarters of the Miami City Ballet;the expansion and _ .renovation.. of -the Bass Museum of Art, the re- lands..ca ino -of Co_ilins Park InOlUdIng the rostoration .of. .�-- the Rotunda': and. extensive streetscape improvernents. throughout�the area. • The completion of the much heralded New World Campus, including the new state- ti i. of-the ert Gehry-designed 66d6uarters facility,fnr the. Now World yr p>�ony and. two publicly-funded componopts, lodUding. _ a $f 5.111lilllon.municipal. Gebry-designed parking garage and a $21 Million world- ; class park. t - � 4 _ l 2 i i I i Other important projects include the 550- space-mixed-use'parking facility built on the surface: parking-lot on the west side,of City . Hall, which includes 3351= square. feet of A munio al office .spacw::the. Impiel�entallon of Inpior street- and infrastructure :itriprovements throughout City Center;: valued at more than $26 billion; and the acqulsRion and renovation of three. multi- . farrrily buildings (SaWay; Allen House; The London House) to- maintain the stack of - affordable housing in the area:. Tax increment 'Financing -TIFF through the .sale.of bonds has. been a major tool for financing redevelopment annuities. To date, four 'Wrid.. issues have occurted' in City Center: one in 1094 for.$28 rhillior, -to acquire land for the hotel developrinent Initiatives; one in 1996, in the amount pf $43;2 IDion to fund.cantractOl obiigatlons and:capital Improvements related to the Loews Hotel and Crowrrd Plaze Hotel projects; ore. In 19982. :in. the Aw amount of $38.2 million to finance capital expenditures related to the 60hVentidn hotel projects, -the Cultural Campus protect and to repay the $21:5 million debt a —3 obligation to the city; and thb most recent, which occurred in 2005, in the amount of $80.7 million to refinance the .outstanding debt service on prior -bond. Issues. The City and Redevelopment Agency's commitment to :upgrading and improving the area's infrastructure, addressing parking and:circulaton issues, and facilitating- new development has fueled -significant now prtvate- sector investment in:the area;.evidenced by more than $600 'Million 'in new building permit activity since the - area's Inception. Work flan Since its-success In attracting two convention-quality hotels, the Redevelopment Agency has been focusing its efforts oh.a number of initiatives.aimed-at upgrading .the area's infrastructure, streets and parks, alleviating traffic- -and parking congestion and encouraging-the production and-presentation of:arts and cultural.activities in the area.. In 2003s.-the Redevelopment Agency-amended. its Redevelopment Plan-for City Center to speoif eddy .address these. objectives in the context of the New World -Symphony's expansion .plans.involving°the 17" -S.tteet surface lots and the resulting impact to the Convention.Center snd businesses in the area.. T-o this end,the Redevelopment Agenoy's mission is to.coordinate, :implement and fund the'Plan's oWectives and to compliment.the City's established vision:. • Cleaner and safer; 3 12 �` .Beautifui�Rl R+ KIV qu�' • Mature,stable residentiai corn.munity-With we>i improved infrastructure • Cultui ai, "terto(riment end. tiler sen capital; arid: international center for Innovation 0±.Ii.Ure-arid bUsiit �ntltI a • Maxim i�ng Aline to out^c ommonity for tI�tit:.dollars paid. The Redevelvprheht.Agency's Ob e-Wve Over the next five years -Shall .focus, on. the' planning and iMp(ementation of capita[projects. associated with,. but.not.limited. tO the Master Plan for the expansion of the Convention Center; upgrading.streetscapes.and. related lr*astrupWre throughout: City Center and increasing the invantory of parking faciiities, including.the pending cortstructic�n Qf a nerd 46p-space paridng gere9e tQ be located-on 234 street and.Collins'.Avenue; designed by-world-renowned architect Zai a HOW.The RDA shall also continue'to fuhd public seryW enhancements.provided for. under the Oommunity Policing Program as well as.ensure the.on-going Olaintenpnce:of capital assets funded vii(h TIF, It should be noted that that a majority.of the;capital enhancements set: forth in the Redevelopment Plan and the 2002 Arnehdment.thereto, have:been completed and/of are ourrehtiy:underway; including.the City CentQ.r Right-of V f l tiproVetnerits, the City Holi.Expansion Garage,:the Cotiirls Park.improvements and th :devetoprrtent.6f the 17 Street-surface lots into the NeW World Carnpug. Bud-get Hinhil€Ohts Based.on-the 201-3 Certificate of Taxable Value from the Property Appraiser's Ofrice, the reriM!npry value of-property in'City Center'ls actually projected.to.increase-by 7.3°.over22012,.•m6ftla the-third year In a row,--values sewn to'be'backonthe rise, WWI` fi�ro, dears .of decline. However, as to previous yeors, the CO 'has redo vd.. sponderto.e. :from the County,advising of 1he ftnalizatlon oUthe tax roil for thb.prior.year; which In the case-of FY,2011/14. reflects a.slight.decrease from the preliminary valuation for the same gear',and will result in .a corresporiftg adjustrnent1reduction In TIF revenues totaling.$168,000 for 2412114 vs $3.5 mullion for 2012113. 6 Additlanal .sources of revenue Include an estimated $5.4 Million 'in Resort .Tex contributions; a mill levy_ in the: amount of $1.8 Million,. to be set aside for the Children's Trust pursuant to -an Interlocal .Agreemont, dated August fe., 20:04 betwoen the RDA. the City :of Miami Beach and Mianil-bade County; and an estimated$25;000 In interest Inwine. * Proloarrelated expenses aocount for approximately$28 Million which includes $4. Million to bo allocated far oomnnuriity'pdfldng initlatives.in.City Center to writinue to proV de-enhanced levels of°staffing ano setuice►s throughout the area*and$5 Million -for maintenance'of°RDA capital projects: On-going and planned capital'.projects in City Center.are projected.to account for$18.4 Million In the FY-201.3/14 Budget;and genersily :include allocAtlons- for constructfon of 'the Colt.1ris Park Gdrage, City/Convention Center Right.-of-Way.. Storm. Water improvements, Lincoln Road Master Plan and Improvements to Eitcild Avenue. An additional $,07,000'16 being . proposed f or capital renewal and replacement projects; Including repairs. and 4 13 maintenance to the Colony Theater. Additionally, $305,00:0; in transfers to the t Pennsylvania Avenue Shops and Garage are budgeted to offset tine City's costs associated with the retail and parking operations. AdmInistrative Expenses :total $1.9- Million, comprising a management 'fee of $1,198,000 which is allocated to the General Fund to pay for direct and indirect.staff support for the RDA;.approximately $650,000 set aside for on-going planning and consulting work related to the Convention Center expansion master plan;: and °.$25,000 for capital renewal and replacement projects under $25;000. It should be noted that the Management Fee allocation. is reflective of actual city resources applied to the operation of the RCA, as supported by the RSiV( McGladrey. Cost Allocation Study, dated duly 20, 2009. It should further--be.noted that°Administrative and Operating.expenses only account for.less than three percent (3%) of,the total ; budget, which is well below the 20% threshold level established (and permitted) in the Interlocal Agreement between the City and'the County. ® They current combined debt service on the 2005 Series Bonds and the Parity Bonds accounts for appr'001mately. $8.55 Million ($8:4) tlillion annually. City Center also continues.assuming.debt service payments on the portion.of the Gulf Breeze Loan used to pay for the: Bass Museum expansion and renovation,.arid the portion of-thee Sunshine State Loan Program used for Lincoln Road. improvements, which collectively account for approximately$1,3 Million. P Reserve line- item expenditures Include those items that, pursuant to the .existing 4 Bond Covenants, may only be expended once the annuai debt service obligations have bean met. These Include the County's administrative fees,. equivalent to 1.50/6 of its respective TIF payment, and the corresponding contribution to the City's General Fund; equivalent to 1.5% of the .City's share of.its. TIF payment; and the remittance of ft l.mill tax levy back to the:Childran's Trust. 5 14 I s r. 00 r iV: O�Hi�W a ai M HIME wl� Into ftI P M p O1'Q tf� �" a7 w, ti � Nr !� 4 r.Or �v` r• r o g 47 � tri« ed uCA N: m R 41h h P+ $ tti fitly r _ N tb OD O 4N rr i- r OW Nro roN `a r X r r : . ... U.Js.. 1P.~ 8 .�. .froi ie W Rv. , 6 Ito � �. In ti 15 i ..i Miaird Beach_Redevelopmt4nt Agency City Center kedeve'lo'Pruent Area Proposed FY 201:3114 Operating Budget t FY 13114. 130ge#eq i FY 101.11. FY11112. FY 2012118 I'ropfted Variance j Actual Actual Adoafed. Budget_ From FY'12113 Revenues and Other Sodires of tncoMe Taxlncrsrnent-City t 18;377.848 S: 18,$37,893 1 19,188,000 $ 10,934,000 $ 748,000 'Proj.Adjuslment io.Cky Increment (1.47s,726}. {1,756;457) (:1,.871.,000) {84,000} 1.777,000. Tax Increment--Courity 18;047,879 14,291,236 1.4.6 ,000: 16,092,000 1,174,000 'Prof Mustment to Oounty increment (1,262,384). (1,387;157) (1,836,000) (74,004) 1;8132,000 5001*contributlon from Resort Tax 4;492,076 4,925,188 4.684,000 6,388,000 702,000' '112 Mfg'MlJdrmi's-ttii Contrlbutl0n 4,474,830 1,461,004 1,616.,000: 1,$31.,000 766,bw Interest Income 0,291 8,270 13,000 25,000 12,000` Fund Balance RealIm0ow,(Noh-rF7 Fund t3alartm Rend and Replacamerd - - - • Other IrlcomelAdjuatmenW, - 5,496.. - - TOTAL REVENUES $ 37,663,781 $ 35,924,961 S 36,771,000 $ 43,000,000 $ 6;229,000 Admio/OperMing.Expoh:5�es ag Manement fee.(salerles&.benefits) $ 94.1,624 $ 952;889 $: 976,000. .$° v43,000 $ .87.000: Saierles artd t3eneflts $58:601 $86,000 '165,000 80,000 Advertising&'promotion - 50,000 50,000 Poslagi;,pdiiling &rnaillrrg. 61 - 3,000: 3000. Offigg-supplies&egdipmant 4548 2,289: 4,000 piper tlpera(i;tg 1,000 1;000. Meetings&oonrerenr. 12 - 11000 MOD D0i6&.&subscriptions: 788 796 2,000 2,000 - Lloences-&Taxes - Audilfear: 20;260 20,26.0 8,000 21,000 12.000 Professional&,related fees •56,031 175,373 241,000 629,000 '386,400. f.tepatrs and Maintenance - 31,489. 98,000 25,000 (?3,00.0): Miscellaneous expenses 6,0_w 33,938 47,000 27,000.._-- (20,000): Total Adniln/Operating Expenses .$ 1.026,244: $ 1,276,614: $' 1,440,000 $ 1,9.6,OOD 519,000 Iroject Expenses )ommunity Polioing 188-.1124 $ 2,7'64;374 $ 3,411,726. 6: 3.741,0.00 $ 4,19.5,000 $ 454,000 .Capital Projects Maintenance: - Properiy Mgmt:168-9964 00,354 1;013,473 .$1,143.,000 1,178,000 33;AOO 'Seriitdttom:168-0965 2,092,146 2,580,468 $2,593,000 3,020,000 427,000 Greahspace;168-9966 506,242' .$783.000 832,000. 09,000 NM Projed l ncofn Palk Complox.Conlirgency r - NUNS Project Grant-lri-Ald 15,000,000 - - - Transfer to-Penn-Garage Parking 76;822 48,801 .405,000 305;1300 ('104,400) Transfer Penn.Garage Rotail 28,446 347,112 Ttansier to Renewal and Replacement- - - 1:05,1300 587;000 (638,OOd): Ytat sferto.capital Projects 138;758 13.541,301 14,238,000 18;443,000 4,205;D00. Total Project Expenses & 21,075,706 $ 21,429,123 $: 23;588,000 $ 28;038,000 $ 4,4501000 Reserve and Dekt.Servicg Optlgations 67ebt SeNke Cost-2005+Parity Sohds $ 8,393,250 $ 8,548,103.. 3'. 8,445,000 $ e.550;000 .$. 13500 GQrrerit Debt 5etvice.-1.lrwdn Rd Project° 1,094,110 1,1031366 $785,000 828;000 40,000 Current Debt Service-Bass Museum 505,1359 502,74(3 503,0DO 547;000 44,000 Reserve-for.County Admin Fee 221.,762 193,881 198004 2$9,000 .41,000 ReserVS.for CMS Contribution 2530.1. 248,719 281.,0.00 28kOOtr 22,000 Reserve for CfilldrWs Trust Cflnt&utdn 1.474,13:30 1,481,004 075;660 1,831.001} 266'1000 Reserve for CoUhs Park Patking Gaffe - 1,451,823 6 . Repayment!, Yr Fund Balance 2;Q46,240 - - 342.000 342,000 Reserve*w Future Projects 384,000 304,00 Total Reserve and DoW Sarvlce $ 14,889,679 $ 13,$29,624- .S 11.737,004 $ 93,.01,000 S 1,264,000 TOTAL EXPENSES AID OBLIGATIONS .30.991,828 $ $$,235,361 $ 3.8,771,000 $ 43,000,000 $ 8,229,000 REVENUES-EVENSES $. 872,1$3 $ 1340,4401 t 16 i j -Proposed FY 201:3114 Anchor Shops and Parking Garage 0peratin$.Btidget i FY 13M FY 10111: FY11112 FY 2012113. Proposed. Varlance Rederiues: Actual 'Actual Adopted Butl et ' -Parking Operations $ 2;388,000 $ 3,070;821 :$ $,049,000 $' 3,130,000 $ 41,000 ;detail Leasing 71.4,190• 615;016 $708,000 847,000 139,000 intenist Pboledtash 39,216 13,897 $28,000 1000 (8.000) TOYAI._"gy9MUE8 $ 3,121,368 $ 3,7Q8,T34 :6 3,7$5,00.0 $ 3,995;!300. .$. 21Z,40Q Operating expomos! Parkipg-Operations; $ 1,6674841, $ 1.164,t� S 2,025-00Q $' 2,078,1)00 $ :53;000 Garage Use•Fed.(To Loews) 471,918 440,241 483,000 607 000 .44.000 Oar4p.Repairs.agd Maintenance - - 37;000 37;OR0 Aele Leasing.Property Managem�ertt Fee 78,917 62;1319 52;000 j Rem Leasing.Repair&Wintenence- 32,000 $4.90 'Reigg Internal Service Charges 86,274 66,109 351000 18,[140 (10,00) Retali.Operationsbepredallon 55,398 55,396. -55.000 55,000 Management Fee to General Fund 189,074 1$8,740. 22$;000 224,000 1,060 Parking Operations Manageement Fee 189,074 -1968740 223,000 2241000 1,000 i Retail Leasing MartegemeM Foe to•GF - 9.4;400 10,1700. 14,000} Transfer to Re-newal and Replec0megt 182, 0 =,000 38;000 Transfer to CapiW.Projects Reserve for Future Upflal-PAi t .Operations - 223,982 35$,600 72,000 '(288,00b) Resarve for-Fulure Capital Retell Operations 376,000 7000 36{;004 TOTAL EXPENSES, $ 24642A20 $ 2,309,942 $ 3,783,000 $ 3,095po 212,000 WVENUES=EXPEN$E$ $ 878;948 $ 1,398,782 Proposed FY 2013114 Pennsylvania Ave $hops.and Garage Operating Budget FY'1311.4 FY 1bM'I FYIIJ!2 PY 201211$ Proposed Varipnco Revenues:. Actual Actual Adopted Budget Parking Operations $ 478,683 S 8181981 & 524,000 $ 000, 00 $ 1 W,001F Retail Leasing 147;123 -514,000 550.000 (2000) Retell Trertsfer from RDA Operations 347,112 - ! Parking Tran6ferfrom RDA Operallon8 10200. 346,000 405,000 3051000 (loo b00 Interest Pooled Cash - .492 - ` .TOTAL REVENUES $ 660;653 $ 4,459,688 $- MOOD $ 1151.11000. $ 12,000 i Oppr,_Ating Expenses: Parking Operations Expenditures $ 300,727 $ 723,029 $ 802;000 $ 822;{100 $ 20,00 4 Parking AdminlBase Fee 73,768 46,368 :53;400 65,600- 2,000 k Gatege Ground Lease 23,682 23,652 23;0.00 23 ood ! Parking Base Rent. 23;652 �3,ss2 $29;004 23;000 AddMPercentage Rent 30 - - Garage Martagerridhl Fee, - $47404 $47,000. 81,0M. 14,000 Retail Addltional.Base:Rent. 15,692 $2781000 229;000 (40.00-0). tReWbase Rent $27$,448 :51,000 138.66 85,000 Reaat Ac nin Fee - 11,137 -Depreciation. $.11:851 - - Leasing Commissions - 303,400 - Admin Fee(GF) - :3,8.64 $53;000 61,000 (2,000 Gpntingency, - - $1.82 o00 134 01)0 58 TOTAL EXPENSES 398,047 $ IA61,,845 $ 1 499.000 .S 1,511;000 $ 12)000. REVENUES.-EXPENSES S. 182,606: $ (2,967 $ $ $ t i i , i , E i i , , I ! 17 E i j 1 i I COY OF MM SEAW REDEVIELOPMMTAaENCY , Z014-MI; CAPITAL PLAN-FUNDWO SWMARV Fu)Y17m PROJIMT HAA+Vr; Pstorieste 2913H4 INAR9 lilamo g*nr R017Nt Amn TOm1 ma :city aeniet�tapl.w .Fund trit6aiom ZtaasLtbmDtotidEkoO�eka a o MW 000w* 0 0 Y,SOa ow loom emIttosNe R 0. 0 0 �0. -B oAO m tOOum aike2iacmr 110;D o ptwwom Awo mock lhrtotn adage Im=Wbv 0 0 0 0 0 D 80.000 54,000 tk sditoyvy Anyway RsstaieltonRiogtum P.kl tf60:000 0 0 D D' :0 0 600,000 pwca,crprp A ��� zo0,aao: o o o ti .0 0 20f>SO4D -oasanlmatar ARmdiwaate.c( a� zaoao 0 n A o o. d sat>o0 rokboa0abb '1!m!o•W[wmnl9ecrt W Sm3WftRe$& Q 0' p JB.Eti9 .rrrhbaautt 42,808 4 0 b 0 0: 0 a so0 mabasamt{► eeaatauteumaanbralorlt 6Y,278 0 0 0 0 D 0 81, 8 ttntMsa>iAr ofte 59.225 0 0 0 0 0 0 t;ez26 ! mgbassh�rn ftm?AusaumHVACkopfaoamenl "Aft 0 0 0 0 0 0 84.184 Sk ntnbase r Bass Lid neum 11yk RUL-d'ia ReOwt 88,127 0 p i) 0 rnnbastallr BaSatYluseyin ent laoainenl 27.011 0 0 D 0• 0. 0 97.0t1 ptat>a ri z 6>;as h< h> Bpe� �► a 3,764.odo 3,740.000 o D $ 0 t stagpoq —mt sutaf Bass 6hmwm Liam Cot*ob aed tn>t mm. 57070 Q 0 0 0 D' 0 eL�sYuirap tta�'..tluseum WeatAet t3eal t!a&R;RR 27,w8 0 Q 0 0 0 0 27;4it3 .,. tugb Beech.8h*WRevta�42"mSio" 8.750 0 0 D 10' 'D 0 Bi760 ! nnebcnwUl Boadkaraltkt WmQ R*M s ,s0s o. o o. q o. ti 8as�b2s 1 peQblfsaprk Parit>nO=:Nt+�al 31,1GQ 0 0 D d. 0 0 3.760 pMbtgph2 Wcyde Path Phewb 6,000. 0 6 0 0 4 1040 1 taoaerkd Cud Flshw,0UA m'Vi'eat t f fo ' 80.f7� D 0 0 0 :0 0 W.7a0. rcQfcfgda CeMFt>haf Ibr e7ta otCi+OerRIR 25.763 0 Q D .0 Q 0 wis !!i refcMetttQ Oettik[staar tllt ,sO tfnaf Rapht�RBdt i .soq 0: 0. 0 0. tF 4 moo¢ ! � ccttvt+emti.bkmto�.�•Gntotic�td1.6P8A �7,�.s7a :(a�srAOO) tr. o 0 o a )a,;��Ia. t ivise�ylla Gtb Cage`r.tlA f Bpd Fins 0 050,04D 0 0 0 .0 0 ?90;900. aim drMb My COW-C4 1300 BM 15.209.042 3pA0;1 0- 0 G 0 d 1a,SS5842 1 mmokyow city W QA Ramp ft"b a wftw w 1,600 0 0 n o: 0 o f.BpG t e WayQtMUnp$�epe8yataar d31:B40 0' 8. 0 0 :0 0 -431,840 gitcCeHcep: t�a&m 4'pttal�.Pa{ec! B,tt00�000 tk 0 0 0 0 0 8,04000 nmeoupnr COW Pane Arctbq o vmvaot„ts 4 0 04p .0 0 0 0 D. 0 4,0300 peoriMdaamp Paetk Pat!!Ag osmgo t978,27t 12,242.000 0 0 0 A 0 25,721,471 afttt OlOtbO CftWlhsdw Condeeset Cods 0 40,000 0 0 .0 A 0 t1100Q i { erscolcrniF Cato"7lt*rRobim.*"ftw 0 27,0GD: 0 O 0• :0 0 XTcm pfeetltghl 0olaiprTtuatar8ta�l RatroFf 4S.o9b 0. 0. 0 D 0 0 Stun r nkaomtstr cwtvwwm eafft t.ncoh 04 camam o 0 0 0 0 0 10,tJOD.400 la000aaa i 1rYaOfaQ9ara L4ossamOK. 41,000 0 8 0 b d 0 21,000 Pore ! Cm4 m cQ�mpksl pnfkbp t4Sra0s 8 0 .0 0 0 b 0 1240@000 12�OO,QOQ taadte�(gn foredo+ ftraia:ll WftnWitolV tQ82a6 0 0 6 0 0 Q 108.268 twsAornbpes Restnno mod.•Nd pack 0 M.M. `0. '0. 0 D 11 0 762900 RCgurAkriio emdon Cedler Uol& 06dwas arA Vk 7372'5 D o o a 0 0 Tame IYttftllr4�ldt t-40%Rd Bawom owl"a l wwoo i 2,bfB,688 t1 a a o 0 0 9,81@,ti8tf i i t a 18 I i t - pt �an t.t�tnRdta+ l.eriactotAtastt. �co.�ra p a: v a v e tai . 4p L&CO t Rd.t}ar=11but pwvR unasop assns 0 0 0 0. Q Q wit eba}.nctn Per p1! 0 p a. 0 fl sr saa 0 rrrsOneQap i+d,st�Pmn s:uv 0 an0,000 0. 0 0 o d �0,cao ramie o o f0,00.o� +aaoacoo' 0° o 0 2aooQ,aaa $ Qiirer •�.em�aaistl�txt�n�noaus W6.G�0 0 a b o. 0- 4 91SAD0 mebgnir bfFOTN{.�iB�etEi rtip tREp1$afi SZ863 0 4 0 a 0 a 6 ammehour :6 mi Ckp o ttoa Cnotie ti694O t t3Q67S. Q D 0 D 0 0 60.bZa avumt&yr Wwd-bVBaU RmAhm Sys 4%8 t 22260 0 0 a tMroeery M�Nt,tty8aftety ftapEanaroeril+RaR Mot 0 a 0 Q 0 0 00. 1• �ydidQr; 1 PC Pb r 60.000 ti a 0 0' 0 o Imo A 9 Pens a.(Ra+Y Wad$ 1 Db.° ir"115 0 a -a. 0 0 0 tT.d35139 pp pmw 0 0 D -0 0 WA000 �OA00�0 pwn&lmmpr R®eNa- itllvehnP0lLtocafnRb M&M 88;000 0 4 0 0 Q 41&,8:0 pptbbnu 8eaeta88ct�al�G:rt�tQ6Gar 1. a 8 .0 0 0 0 s�e,4eR �uueystbap f .Re� ea 15,000 0 1 0 0 0 4 28,000 nn outmw• Wnl AYemle Pond kW 7t 0,OQ0 0' .0 . 0 0 0 Q 250.000 'sum :0' 0. S%msatf 11.0090 40 RDA-AnOorOarap Fund imatiiawP Aodw6offte NC tmmA.R&ft QBA2a 0 0 0 •0 0 0 W02D monlbak Amb&Oa"aEkrrA tR0pIWW-t&R -wpm 0 0 a 0 0 0 357,$35 � easnm6p And orow"o o*pnd Upixgt 0 224000 0 0 0 0. G l�O,QOD minoo -OS.645 0 0 4 0 0 d 9 iisndtsee AtrG�S4Strycaomsrr;a b 08;000 :0 0 0 ti 0 2SAW n ae�hore Aat��arStmpaFiiRSy7mRe�fao4n1eiA taea¢ a o 0 pacgd`reor aosed CkCA Too,-bat ys �n sav 0 0 a a. o q tizoo , p9 wt Pay ant�4 OW)tom xts000 0 0 0 a 0 0 2E%* ega�gtrcabi Q :a�oco0 0 0 0 0 d ' SUM t,0a8,409 4e6,a00 a 0 4 a 'd X 3.408 •�87 �nadt6T�enn4araga ` ggObClYOsr Ct BF 7eteviston b5otam 'm,0.b0 b 0 b 0' 0 0 WACO 1 t�gdrdrbapt °Rsgem,acont�olEgPa9a0� 0sboo a- °0 0 •0 e o csaoa � e0,000 0 0 0 0 :0 a 0 e9,acn i k ' 19 i i QNQFNi)AMI BEACH Attachmw*A i REDEVEIOPM MAG WO 201�i.CAPirAtr6tldGET-FUNDE;9G�Ul4ilMARY 3O Qty Cert(4rRDACepltal Fluid CROW ProJacts :Rpo dramp :toltfnsOpfk-POOfIdarap 12,IA2.90 pRtbassphl Bass MUSWm Interior spate Expansion 3,�50,00tT>i pwdsudnW Reserira-a4dAye-tmpetltri'-n:Ad. 6�,QQe rwscchvb9b Clay Center--commercial Dist OP98 a6;ao4 Rvtsll ltricoln Road Masm.'Plan Study 500�00tS? rWsEi4111fe aty Center t?A kcal F$es 17,237 . Tran;fdrs to.capltal. Bass Museum PreAOUS CapRai•Shari Pau 1,046,18$ 'RAA.CbpRO Fund'sskmce Sho 41.1 1;39Qri?B Low CItkt¢r4ev.M credit tofunditelentePerrlos0.4M projects C1;23�,Op03 1Yansfdr6.to[appal Pr*d3, 18,449,000 i 0 P i 1. j� I i e ' iI i 20 40 0 0 a 0'.0. 88 8: . 6 d 'm 4 V C� , .9 C; ci 6 d 2 N4 id U; C4 0 oet C', 6 C5 6 6 6'a' ° °' C3 0 C3 cl, S. 8 8 Q ' 0 0 q C! q 0 C4 0.0 • r,: C'mi•d -i :cj 0 A. 8 co Ul . M rz"N IN V_ N scl xi ti C14 C3 c): C) do: 8 c8r, :9 01 (21 C! Od C; d M. ui SS p .4 -OCL 13 0 0�: n 0; 40 cc 0 8. 00 Q_C! 9. 1 M. 0 .0 .0 .� , 0 0 0 :6 6; g C; Cl .Ol 1 - 8 ,§ C, .9. 9. 9 Lm 0 0 Cc,- cl. Q. R § .0 16 td dSo CN; In V. m O O O. Q Q O Q O :O.RD C� CD� Ol cj. 0 6 0.,'Ri C! q 83 cS)' S S. Cc, 00;0: 40 CD 0 ' 0. Oj C C O S 'g .st to C3 to S, co CID at T^ Ct 1 ID CID w ab 40 C=� CI -8.18 .40 10i 10 C> 00 Ql C� q 1p cl, R CR cl I Cc> IS 28 a 8: C�. la & P 8, 8 C; V* :V-; 46 Vi. 06'O SO X I'D '0 T. , C� 'COT cli T-. Id Q M 4� CL lab) 0 w ui 0 . 0 m E c 0 . . 0 P z IR W 0 8 W m Cl 0 zz w C) id f2- , — to in 0 ui w w C a L I a r CL- , p 8 12"0 W, rL 0 0 co T­ 6 < 0 a Z U) p C-4 V) w to 9- 2 9,120 to, IS V_ a i I .;; io to UI, 10-- 9 'It 2 — r" C, C3 C). C� C� 0 C Cp 1:11 8 8 8 8 a C5 0 8 8 C) a CDP C3 M. 8 8 S C2 021 a a t.. 0. ,4p C3 co 40 R C� 0 0 40 Ct (D CD t- In M CD: a W) 0 Ct tz v7� n C3 41 g Cl co ELf Or E o to Ax U, z Li L) k z 9 03 pn Cl 22 7 QQ '4 c �. N Q. N � I �i o d :d c3 d d. d a o t► d a' o era ;� � a � � go � Q Q � 0 o I v cr Cl � pOC Jao. ota o o Q g a oci a o a � +P W qkt a 0 0 0 is g d .M II�,��VV•• . co V IX. ra id C �O Y g c X VI co F- m -• S a :� a :o .o Q 0 8 8. ovo a $ $ em g a N g I r 4q QQ. cl H _ a Q _ -0 . Iq e NJ L.- 24 ..... ..........-..- V' 8.8 a a8.88.8 9 S88 .gmd 4. d d mss. o 0 0 It q. w _ im r r a i o° co 10 to t at al�� � .. t r �; 40 t .a oa $ �. g . . :ooh o �- S a � � � C' � . A ® : Q O G n r 1Q Q tri tp cc C4 r i. 1+ o d v- o a3 Ol o In 0 9. G 0. o Idb). ds CL t- i i ao`F�', 8 :88898. S 8 '8888' 8888888 8 f C31 CS 18. OO88Q a QPo 0. . . 4Crao sa a o r• rnoo aci o00 go co waL � 0Cl a o o b .c5 oa000 c, -o ooa0 Aq b o 8 0 8 8 8 00 0 0 o a o 8 o c c'a o.o .00 d o r; c� d.c' a o �t .rs cm S0 g 4 $ X999. � Od r M_ bch 4tl N SV. iV N w .Q .p' $, $ 88 �'', :ocZ $ .°o, `b',: g �'. . .8 0, c, c� °oc8 -as8 $ � o cioaa oo. co a doa bcn, Q M �Q � ! O M �` B O A a~- 4 O 00 r lh p p p p p o {� p p p p p O O O O O o O O a co O O O O O ID O f ao 00o ie $1:$. 0 $ tv,r � � _1(j cm N o0 r N 'fit c N LO LL � V p O 8 p p -9 :9 p G O O p 8 .G p O Q O P 6 c; C$ C Q C t4' C l� o c.a ff t- I Fa` t� ►d' ti. �ti tti sq' $ `: r .M i 1 0� 110 n 0.0 W 2 CIO �. IX 0 Al m IL �, ,� ci z n. �, a a. F o .3 . o ter ° ` _ °� � g Ol F r .20 IL o o t- � � i O tr'. M M tr7 1p 3 C—D m �D to cG�7 tine r s�Nti b1 t :% '� ems- gr b w CS ^ CO, pO rg 888 O; o � j S pO g o CpJ oO q +n tR IM'4" Q r w O O O .p O ............ 8 CSIO 8 cc N cp CO Chi RA 8. 8 5_1! ell In 'd d g ad obi. Oct' at cl 0 0. Act ® � Q 4 8 8 M: 6 a 0. C95 gm Fj E3 9' V V41 OF Cb C� on.to c) o o. d. CS 01 XOJ M. CL to 0 C; CQ Ag Aa o — � IL co 27 i i to ks U b :� ° i Sla . � . .. . :CL cam • A i 28 I RESOLUTION NO, M-2013 A.RESC1�e�TiON:OF T � C R DSO AHC dIEi EEt�S 'OF THE MIAMI BEACH REDEVELOPM,EhIT�IGENCY ADOPTING. .. AND a ROPRIATING THE OPEl�TING BUDGET FOR:YHE' CITY CENTER I EMWELOPMENT AREA,T&ANcHdR-SHOPS. ANC PARMO GAMGE AND THE PENNSYLVANiw AVENUE. SHORS AMPARKING GARAGE FOR FISCAL YEAR-20.13114 WHEREAS,the proposed"City Center Redevelopment Area Budget hae b®en-prepared to caincido*Mth the overall:City budget process;and HEt AS,to proposed City Center Radeueloptnent.Ares.Pudget►etiects.-spOpipated i constn pr'ot oQsta ih sidditfan to operating.and.debt service costs for -the tl year; and t E MW, the proposed budgets:for the Anchor Shops and.Parking C3ar�age and:the Penneyivar�ia'Avenue Shops ornd Garage havb beard included as.separate schedulea.to the CRY Con tar RedevelKtAQ Bu get,.etc mv Maperstg xonssfarha e fow 0►#and WHEREAS, the Executive` rector recommends approval.of the proposed Fiscal Year 2013 114 budgets for the C Center Rodeveloprrtent Area; as weell as for the A c hor Shops and Perking Garage.grid the POhnsyivania:Avenue Shops-and Garsgo;and NQ1lt1 THEREFORE,13E IT RULY'RESOLVED BYTHE CHAIHPERSONAND-MEd ERS ' OF TIME MI BENCH RE© LOPMENT AGENCY;.that the Ghairpersan a nd M.ambem.horaby i adopt i3nd.appropriates the operating budget for the City Center Redevelopmeht Ama,the Anchor Shops and P Parking-GaMe and the Pehnsyivarda Avehtte Shops and Garage for.Flsca!-Year j 1 2013/14,418 foiiovlls: i $43 400 ' 'City Center�Redeveiopreent Area ,....., ,OOo: 1 Anchor Garage Parting Operations $ ,13g;ag0 Anchor Garage Retail Operations $1357,Oi}0 Pennsylvania Avenue Garage Parking Operavons $961,000 Pennsylvania Avenue G.erage:Retail Operatlorrs ffig50"000 i PASSED AND ADOPTED THIS SEPTEMS 30,DAY OF 2013. f $R 9OM ATTEST; .. :�: j SIId.CORP : i N AMROVEDASTO FOFM A LANGUAGE 4 FOR ... ON. SEC T®YR V r KWAS: . C14 ntfgen T1A(MAOtSI Weldba WHET Ede O-2M;L44ftAce G`pLHt i 29 a MAW BEACH REDEVaOPMENT AGENCY SUMMARY Omd6med'die: A:RWoMbO0tbffCIWr.P.= i*i.Mditlbers df the Misid.Bed.RadevslopMsntAgehOyadooUjng-80-op.m Sgt n9 1 titW aEperefing budgets for the City Center Redetreiopment:Area;the Anchor Shops and PwkirEfg•Garage-and the s: .Penn Avecsue' .. _ artd'. .r-. . oF (Year:�0't3114, . ..Key Intanded ulco te. o ted:._. ...::. . ....... impnovsE a C[Vs-avemP fi[ca_ndol ealth.and maintain ovamfl-band:ratinng E no D$W(gUNR FnvkqrOftOnW Stahl tom.•� One of the.City's.'Kssy:int;0606d.:Otltobntes V to en 6ft..Wert-designed: wail nmIr lrieEd cgltal prate and tnfraatrucUre. In:l eepinp with this 8�,ApprOxI mately 63 peMOhl or$14.t mltilon.of Ikee.proposed Oudget for C.Ity 1 .Canty is tx irig allocatad.t ,vaWO dapit�at-OXpehettpre9_tridutltttg neuv capl%l projdc:ts;t'eriaVErei sr�d raplacemeEnt,and intenianr�of s .RDfA: fatirtira$lructura,. AW. .: >tt4(a.:l e tr nt#satdon: The pmposdd Wdget for the Oky Center- Ama:for Ftscat Yeer 1013114bawbeen preog*id�irici� wlI.h the coverall City budget progss,and Is bent presented to eseslst ict pr!ovtdjn4 aompr�hene ctn►iew of the dlstiwt A�idttrOtl'elly�tha rev*ieaaih'e' ..Ases ass6dat d wMf aw bfierattsons of the.AhchO Shopt,end Parldng Gsr'age"-woo es this"Peririsyhis hia AvaE;Elre Strops'iticd{ Qe ace presented s' peErate-scitedulea so at`ta eliminate any perception that proceeds from the Paclity's operations are Peeled wig'TIF acid Sher Trust Fund leV; uefm 1 Ars tteQallnBsed an t 1$Cedc atcso1axab i iyyiQOf ropecSe 12 * teyta; 8d jlR pty'ContOr Is p argue 4.74%o0:2A . i cam ap6ndn�f the County.advlslhg of the ftelizndon of the tax toll fcrYhe prtaryear,which In the oag'd of FY 20'f 111.2,reflects a ssllght decrease tom the proUrninary valuation for the saute yawn and-will result-In a corresponding a(lus�.tmentfreduc#ortin TIF revenues t�otsiing$leB;000.:for20t3114vs$S.5 inilltort.for2O12l13. Aditorial sources of revenue Ici006�an estimated.$6�4 miifian In Resort Tax catMWOOria;a}2 NO Ievy to the aMQOnt cf.$1,8 t 11100,to'ba: set.Ode for thb ChlldrWs Trust,p rsuent tcf ah Interlopal_Agreei ertt;dated Au4ust'l$,2444 betl�vsen.the RDA. City ofMiami Beams and MisEniii-Qade County;andan estimated 2S,OOO in Interest inoarne. Rte proposed 11f 2013114 City Gertter i?ads Iopmentl rea Budge#of$43,OpO,Qgt)is$04,000 less,tharti the prop�ed.pudoet.fs�cofruunended by ' itia .rcec�ltivO Direcbot ah Sdot�ber'1 t,2b11,.Tails de�e Ise a reettitof.e ri�dtiCtthcl in the id. a�da'WWO rate of i { ,•0275 hY th�Mayor attd Cart mIsSion.at its wo*shop*id%P 23,2413. ! to tn±der to addre a existing and future c�Ell flatfiolEt$ et':rite Redevelop rc>i Are s It is rec neWed, t the. Redeyeloprnent.Agency adopt:the attar. ed R oEu#an which es3atilisfres tines.nperasrtg.butlgete jot.the Gity Carder Redevelopment Area.the Andw Shops and Paridrig Garage and the. Avenue.Shops and Garage far FY 2013114. Advisoy Board feaomm6ndadow, Financial Information: Sourde of Amount Aeoaunt' Funds: 4. $43;0OD,000 City Cerder'Redevaelopment Area Fund 2 $ 3.fl9.5.taQ4 -A!**or Shcpa anal- :n$.GelriEtgsa.. e-0bos 4T.,611,000 Pannsylvanda Avenue Strops and Garage. paratldM .OBRt 't otei $4S,�4e,0op Financial.IMLmet Surma Ofty.Cterk s t oe LeglolatIve lVacidn Max Slilar,Georgette.Oaniels and.Jahn Woodruff R.bl Huifgsst Asettatarl# Executive i (RDA).. Wtt ca MAS KGB .. et. 1314 3U&&c. E E Are lOA cram ' MI.A.M1B OV E .. 3 t MIAMI BEACH. Chy of 6%rW Ua+k,1700 ConvenOn Ce*r Oft,-hNcnit Beach:FloiWa 33139,.wv±rw.m1*w1 a.CML1_w REDEVE-LOPMENT AQEN.. Y MEMORANDUM T(3= Ghperson and Members ofthe.Miami ach Bede fopment Agency FRt?M; Jirt"L.Moratea,Bt�eCUtive Dlrec�or :r•�_ DATE:: Septe�iW-31 Q;2013 SUBJECT: A RESOLUTION-OF THE.CIfAiRPER$O. AND MEMBERS.%THE.MIAMI BEACH REDEVELOPMENT AGFINCY,ADO"N ANa APPROPRIAG TWOP.ERATING BUDGETS FORTH9:01TY CENTERREDE`JELOPMENTAREN THEANCHOR.SHOPS -MD PARIONG GARAGEAND THE PENNSYLVANiAAVENUE SHQPSAND-GARAGE FOR FISCAL YEAR 2013114. pal 1SLRA jj RECOMN gtI ON Adapt the Rw1utlon. N Y S.,. Thep osed.budget focthe Clfy Center:RedevelopmentArea.(RDA)for Fiscal Year 2013114 has baett.prapa'Md to-d' lAolde with the overall City budget proradss;Aand is beiR presented todpy to aaslst in prgvlding:a cattipireFienslve oVarvleW Of the'district..Pi®ase refer to A ch.r>aent A for the Proposed bWdget details; Revenues Based oh the 2013 CerdficaWn of taxable #Value from;the Property Appralaer's Of . the peel i nary:value roW of praperfy In i�r Center is:projocted:t4 inCr Ise I r :.3`Yo over 20i 2;1m3r1cl" the third year.I t.a Veiuos ha o inoreasad;values seem to be.beclt on the rise;fallow n'o jiw years i of ddit ine.H' r,0,61n piW6us years,the pity has eacelued cbtxesponder�rs►Wo the:County, advising of the-firoftedon of the tom,foil for the:prfOryear,whlcti in the oas of t=ip 88'f'Iti2,reftes s'a. slight d�ease from the prelirnlnary valuatlor�for the same rand will result In a.c ili�espolndtng adjurtrnen#ireduciion In TIF revenues jotaling$1e8,000for2013!14voi us'$3.6-mlMorifor2012113. A idi bnpi stau. bf.favenue lnolude anesSmatpd$5.4 rnllito'n Ire ReWttTSx oantdbUtfons,6 m 1i in tho ah 01 of$1_.8 n�iolom to bd set gsida-fd�the Chll ten's'€rust ursuantto en tlftedooel �1qm meat,dated August i 6,2004 betWben the RDA,the Olfjr of,MW MI Reach and Mlamf-DAde County;and art 6911m' $25,000 in i 'rest Income. :. ,E�rperrcfttures pr sect mtoted expends a=unt for approximately$28 miilt4n,which includes$4.2 million to be- allocated for community policing inlfladves.In the.City Center b continue providing enhanced levels of staffing and aervlres throughout the areal, and $0 thillion'for'.airitemnce.6f,RDA capital - I gbp*nber30.2013 ited8vOkPMMt A9i9nW MWW dum. O pemft MmW for ONy OwnW for.FY20 3f14 � f�e oaf S rg'le=Qgptr�a nd planed capital praeota in.the City Center.ar�proectado a000untfor '18.the PY 20'03/14 Buc�at; and Include..allecalons ter,conattycOoi-of.the to*$.PA tsmge,the Bass Museum rntodor Ex _nslon and Lincoln ftad:Master Plan Study. This.also 'Includes$9.568 million asiftransferto cover arlor caeltal fund'balance deficits. Art additlanal: g7-,0.00 is#sing:plopp� for capitai�reridwal sand.-replacement projecte;including repairs and rr►elntenanoe to certeln t%t ov-ownad projects and facilities,Including the Anchor Gage. and Co1WV Theater.Addi tionally,$305,000 in transfers to the.P6nhsyiVsnie Avenue Maps and Garage m*budgeted to offset-the RDNs:.costs associated with the.stall and patkjngg:*perstlone.. Administrative Expenses total$2 hcti_i114n,tompn .a managemanUee of$1,043,000 which Is afiocst9d,to the General Fund to--pay for-direct'and Ihdltbct st '-support for the RSA;$B9,000 for actual-operating expdnses;approx1mately$M,0D0Aetaslde fdronjaing pfartning.end consulting. workrelated.b the Cociventian Center expansion master plan;arid$25;000 for capltel.renewat:artd feplacemer projects under$26,00. -( it should be Hated that the Mansgemertt:Fee-allocagon 1s rerfiectiv-e.of actual city resourc -applied to.the opi6m. lon oaf.the.RDA,as-suppo ft.. O by the RSAA Mpok*ey CostAlloc*tlpn:Study,.dated July 20,1009'.. ltshouldfUrtherbe:noted that.Adminlstrative and operating expanses only-Ad.count for toss.than four percen1'0%j of the total-budget which is well belowthe 20A threshold level established(andpemildod)In the int6r1ocatfiQreeli Wbetween the Qty and the County. The current combined debt seMce on the 2006 Series Bonds and the Par ty Bonds ecoDunt0br appra m ly$8A million annually..Qty Center:also continues assuming debt servIpe p:ayilten# an the portion of the Gulf Breeze loan used to pay for the Bass Museum expansion��and renoVaioh, ' and the Portion of the SunaNne State i oan;Program used for:Lineoln Road frnprovemertts,which collevely account for:approxihrately X1.3 million. r. Reserve tine Item expendWres lirt6luft.those_Itenns tt1p�,pursuan#to ft�eXis�ng Bond f Mnant9, .mayonly be.ex .�.Rd, d-on theannual*bf;ser ricsoiaiig�tl Rave been met.These'1pc�ucfo.tli_e Caubty e. eidm histrative. fees, 9 ulvalent t4 :1.: of It$ .respective TfF.payment; arid! the l coti`esli0nding cortttiliufiion the Cfly General Fund,euliralent01.54t6 of Vie.CIty's.share of Its TIF p;syment;..and the.rentlttanbe of ft A MIU tax levy back to the Children's.Trust. The re.venues and Opense'escalated wnh.9perutions of the newly opened PQnnsylventa_Avenue hops .and Garage and the Jncor Shopsrtd:Parking Garage are pr+ssnted as separate :sahedulas:;tn..:gcdar to ellr lna#e.any petGmption that prooeeds frt�m the facilities' operations tiro ponied wit TIP and o#her Trust Fund.revenues: Amhor$hq loerkfng bsrage Garages net roues at t Anchor Garage tine prQbOed at appraArwately$3:1 rollhon,with operaft exAe�rtaes,(irrcfu ing slepre iatiorr,contractual revenue l ring obligations nth caws and.ge"M fund 9kOM1nis MtlVaiees);.of epprox rnetety$2.6 ctiltll oin fid`rissetues.of$7210004 Th6 Anchor,retaI1 operou"S. is expected to:aenerete. $857,000 in,reyenu6.j �.uding_..in#er�esf, _oPe i hQ .. ek*iT.s assodtatklwith# retell rriai�agerrtent contract,rotated reimbut abi8 expenditure .,.and deprealagorl totaling.$I 181000, as well as projected reserves of$041,000. Pah"ayhranla Avenue Shops.and Garage In oopslderagon of the feat that tho.Pennsylvania Avenue Shpps and`Garage-was built by the RDA on Cy�owned prepert'y,the operatidn of the faollily has..been stru4tured'In tha forftt-Of's gOund 4 "lease be:Woon the fifty snd the RDA providing terms for north the Garage and Retail opeeations. September$0,2013 s Rv�lcpnrant ggancy A�m�rarttRrrri .. OpemUng Budget for ONy Center krFY 2013114 Pegs 3 bf S The garage operations Include base resit and an adminlstratW&fee, consistent with that of the Anchor Ga ffe;Parldr~g�s apt*rati- l fee E arul raveriue.sl�erl�beh+teen the Ckyyand the RDA.The Retell operations also tnolude base rent and an'adrrtinlstrative fee,as wall as a relit lease.rate based on 2010 retail.market bap rates_.The retail operations also include revenue sharing between #te:Cfty and Me RDA. Based on estimates of the garage's ouiment-ye r:aperatirtg results,and taking Into consideration the sucmOul mmuthn Of it tease agireemant_vAth Penn ll,LLCq for the entire real soaps, the fac;Kty is antiotpaEed to generate$1,600,0.00 in revenues in FY 201$A4,poM''sing$666;i10i�'In parlcino revenue and$fi50,t .in�eteil it me, : wever,Write the Atellity Is still.011101patetl to operate at Gloss ourirt9-FY 2Q1.3114,the RDA plans to sutisldtze Its operations through a trd' tot $305,000 to the rang operations. pa. Expenses for the.facility are budg�tad at_$'1.6- {Milian, Qompris1rig$ 0,0.0Q in direct op hosts fQr the.garega and.$641,000'ln least to t plated ohliga�Ons. CONCLUSIgN The proposed FY 2613114 City Center redevelopment Area Budget of$43,000,000 is$94,000 We than the proposed budget retwmended'by the EicecutWe Director'on September 11,20.11.. This deereaise is.a result of-a. reduction In the citywide miilage rate-oi .0275. by`the Mayor end Cornmission at its vfrArihop held September 23,2013: This millage reduction docreasea the-,TIF, reverutes paid to the My Center Redevelopment Area by",CityofNami Beach. 'phis reduction in revenues was offset by a reduction In the eXpanditure line Reserve for Future Capital Pmject%. i In order to edcirsss the existins and future obligations In the Redevelopment Ares, it Is recorrr4mettded that the Redeveloprnent Agency adoptMe attached Resolutions vvhic:M estabtishes the operaft budgets for the City Center Red6vatopinent area,the-A►nehor.Shops dnd Parana. ► Gareg arid the ft hsAvarda Avenue Bhops and.Garage far FY 2013114.. AIN 1 aLW. ,..,� .a Attachment TWENDAl`IMSeptwber 30VWA Budget MOM 2419 t4AOO- i I , I . f MTwW beams Ream Aerroy . Colits�r�Rgde�ata(nno�t Acme d lY 201SH4 Operdnq 6.11�et i . rY t>nd, w W40114 fy19112 FY�MXI$ Propoesd. 1rleila A"l Adaybd Butt et vrmgy 101,8 itavorntes3 aa+i aver gera+f�+ar rncane .� .. T"Mwenw t-.f " $' X18.377,818 � 18,837;893 $ 110.108A0.00 $ iQ834,Q. 6 748,440 �rs�.,��dnenito+EB}ruuumneul .(4�s,7�al :{9,7®,CSn (t,879;n40) (g4.R�1 7.440 TBx gl=MeM- �8,047.ere 14,2f9i;s�ss t�;ata odo >$, 9�174.00lk friroj q neat� fy fnaement {1,282, 4) (9,387,157) (1,8W00D) (74,bW 145021mm0 :5045 f oaltibtalbOR i tt aR Tex 4,4UM 4X5,188 4A4,MD: 9188S10M. MAO. '9/2 mot OMW6,TFO won 1x474.890 1,4@'1,9154 1 Amw 1.891,000 214.000 h�are�t4lntxmre. 7�,itt 8,278 i4,CG0 25,000 12.000 Fuiat.Belsn ROe fla r(ton-w) - - - rn1e 0ideneeetreal cemeat. odwhft r' � 'OTAL.F E !j 37IM7811 s Adr MnMper ftV ft Reon�►l�`�°{sBT.ariea'.�ber�aftis) '� 441,52+1 -6 95�„ $ 9�0,OD0 � 1.b43.QQ0 0' " @7,000 WOW 00.0 Sels,", afid Omet09 580,801 288.000 0 .Pbdo0e,pin ing &mwft 81 3,GOi1 A000. al<equipment 2,60 2;2$9 4,000 4,000 -' allo 11.400 +,000 i�ls&sonrsoes 12 18,000 .1,000' . foue &9u arre r8$ 7135 2,000 '000 - uwnM&TOm - PMO rasa 20,z60 .20,M 0.000 "1000 12,000 Probalapa18."Wed tdid 68,431 178,37A 241,000- NO" 388,400 PADBIM and_ k""M- 25,!100 4(73 00) l�Al$CH:ft�Oi11$ 5000 8 936 7"008 7 20480 TotalA&AdbireniOn0 a"a .si 9.028,244 6 IXAA14 6 JA40,.400 ss ;90 0' 6 MIND "dt Emijurnoft. Cwkatuft Pad*p 1Wt124 2;754,374 .g 0 41tm 8 $.741.6W $ 4,105.000 1l 454,Ob0 F�aAeely►Ntg01(:t08.8�4 000,11$ 1,Qt8.4T8 i1..143.4p0 .1'7 33.90D samodorrr 118&1989 2.002;148 2.58MO 82',693.000 ,8Z0,OOb 42T,ti0D amnepaces f $' 5W,242 1003.006 13sz.ao0 69,040 NW8 PsgaVU(fC h Park Complex Conllnoorcy - - - - - Twes w to PGAO Qatw Parklre 76,622 40,601. 40!,000- .3Q5.OW (140,000) Toener t*Penrr'QatW Rs%H ' :28:448 347.112 . TANUM A Renewal and ReptawmeM - - 7051M 61)7; (638,000) Tranew to OAM- 1 PMOO 13,6411301.. 14 4w M443. 4,206,000 YoW ftpMoei� I%W5,7 6 'a ;123 -6 .89,888.000 6 98,03400 9 4A60:004 ite"M and IDS 84n oo 0011911VOM 178fyt 13@rdiCB CA13t•2005 4 PBrf(y Sands S 0.983,254 .Il 6;548;105 1l 0,416,400 8 .8;660,000. 1913.000 tuned®M:8ervice-Un dn.Rd Pm*t 1.O",178 1,101368 085.0011 S36.09ck 40MO C rod Debt earvu-BOB Museum Sb8.859 802;748 M.M. 847,000. 44,00(! Restw(w Owply Amin Fee 221.782 499,861 198,000. 230,000 41 AN P Bar CMB.Co on 263}531 248!7'.19' SIAM 03.0w .22,00 pR ei4r`Clllklrenp VT�rtm�l.¢G}�d.�Mbuflbrl - 1,474,800 1.481,004 9,016,000 1,831.000 :238,000 RaPPYme444ior*Prod bola,= .2;946,249 - - 342,400 842.000 ResM8 for F1u0 P*O''Ml . 384,000 .984 b0 TGUI RMM MW DOW SMIA66 13,112$.824 F 11,737,006 .6 13.0at,000 S. 1a6e4011 TOTAL EVINGNSAN 1081r0ATIONS 6,881,8 6 $8,771,908 6 43 040,000 $439,804 REVF.1181E8v.EXP6KM- 872,155 $ (31CAO 6 - 1� - * • r r P FY'2043114 Anc htw Shop&and Padclaip Garage �t�et��uo�R - tFY�i4• PY 9114 FYIW2 FV2at2Ia. POP vaiamm: I Rmnum MAW Acme ea'. _ pavbv Tnaaag ZBWOQQ q. SNOJRI $ .049.fl� Bess ° i'44,1 50. 8115,06, VOW t tmie�.P ,t aiSi Sam 13.807 saaaa . �aallay l: esae;. TOTAL IRE" Pa�atctarg QpOtatlatns $ 1.x:841 .2 AMMO S 2.a7$Q00 53,000 flaaage U .Fee.(1`p t y 4�.TIA1S X40.344 �t1YM... 44.000 Gage die d Nlalr nanbe - BT sr,aoa t ry® na is r TOO e2;at� :S2,006 _ (a2,oaay RemR E.e Rehr a>c�a: 3%000 92,014 NOW OW Ser"C. as 96,274 ®.109 95.E 10,000 (16.003) ROMg;p pW gg8 x.$96 :55,008 88,000 • t�ltai edaaeiat Pam to t3ens Firm! 1. .4y4 UGJ40 PN"OPWIOI*Mmmeet FCO 180. 2�t,aoo. irk 1.00R Welatit deg: nEF'Oe ®R 14,000 10.000. Tta n.dar,4-Renewatpro 162;a0o MWO 3BLMO b,,.,,7Yen�fer.'tAo..Captt�t Pay ,�} �y� ,�.a4, b,� fad y��' Newive br PuWm�tY•tPwi ttg Oper61I�a1'. 223,982 858,000. l g�L+�lSI \3115". "Resaaua for Future! -RetaO COSoUbm aaa 7411,000 t TOTAL WOMB S. � .2 3 ....... 3�`a;400 >t< Z1$8if4 rmev tmo EXPENSES $ SM046 st< Proposed"201$114 AMhOY10MIR Aver $hasps and e3arage-00MIng Budge! FY ISM4 FY 1131' Mina FV 20VA3 rimed ltatlanct� l�vaaaaiaaag: Ac&W AcUml . Ad Paarldnp aralna►a 4 i S 620.00 .S 10.128 MAP mum (24,000) ;" tl��.. - •• - ReW Transfer from RDA OperOws 347 412 PaddngTMnOW. toimADAOpar Um§ 902.070" 396; 400:Ot?Ff Maw. (100,000) i _ - Tllt- � � . IIAMAN $ �DIAMB. . 12,00 Operons tupe ow. 1 Padcis>0 Opera"Orm Expemmees S 802;pQD S- =ON .S 20,000. i Pa*ft ndmi M26 free 73.708 4S.3p$ 83.000 BS,�Q ;3.0ao QaaaB�®Pauad•l a e 23.552 23,562 23,OW 23.000 - P9aaktngease Rent 23:562 28, 52 $23.Q.0A - AddtYit?�ap4nta heart + - 8a�aga 84'. 4. s4 :ati 81.1100 t4.�DD Rent Aar tws Rat 5t6.69� rsana. 220000 (a .aao} - l aria Red !121'8,448. BOW 1806000 es, eta F - tDomedkOli $1 AM - - Waafft WIIIIIN.B"6 i 3WOO w Atdrok fee(OF) 9,$64 SS3.0� Bi,0ti0 (2;00D) Con* oe iSOM (5000 . �t1d � 596.047 $ 1;481.0 � �. . ,OAO ffi '(,SiiAa4 S 12,000 s i I i 4 { I .... ----._.._.._..,..._..._..._..._._.._. - - ._.. ---......................... .._.._.._.._ ._.__...._.-...... .._...-- - _..........:.. _._.__ ... REDEVELOPMENT AGENCY ITEM SUMMARY .Cdndensed Toe: _ A resbUt on of the Chairperson an w1 of'W 1111100 Beata Redevelpprnent Agency,adopring an d aRpr� tho Miami Redevelopment Agenq Capita 8udgetfor�sc�l Year�FY�2Q1��14 SO ®d. .ti. t*-`P_..'. t.Im-tovement Plan for EY2Q13tj4+-.2DjLI18 K: iot6ndetiO _:: :. trn=r urI.wd d-quatity itnl acts U ase-trammun Battsfecilon with C Semis" SupportlMg Vsft .urve ,F.nvir±anrsiental.5c4 etc. ,Based do the 2012 camraunHyt y, Y s pied capltel" r were highly r d ey 4+ t:remdent$attd busirtesaos. 1n the 201 survey,arts 8t d�Uiture.lA re IdesltiRed as services:the city should strive not to reduce;and avalIabWyof pubic p?+r1Ein I was:awxif the feobars.ldantft3d:as'keydriv -of overall sgsFap#lan.levets, Itetn�umma 1Repommend an: - Tito CIF*'was.*eate4.44 a plan for p%tpcts that re4WO.sfgtlfficMn capital!twos tonent:prid:Is intended to serve as.tin offldil dement of pubile policy repardlrig tang-range physical de�velopl teht In xtie City of ? NdllOW Beach and'the Miami Beach RDA;est2�bti�hi�ptforltles for the upc:ontlrtg year parlod,:FY 2013/94—.2017118. Tto fir.st.year of the OF 1s recommended far approval:as thO P1,2010114 Capital 13U00. The Proposed Clay Center RDA Capital Budget fo r-FY.2013/14 therefore.totals$16.954 millb and the' f PImppsoi FY Z013114�-Capftl.13udW for the.RDA.Anchor Garage totals$485,000.The FY Z013114 I pro*ed,Capltal fidget inidudes apprd tw1ons for ft coristructlon of theCollins Park.Garag®t.the Bass S Museum Irr edor Evanston;tlrMprovements to'Euclid-Averiue,City Center 08 and Uncoln Road master s Plan Study.. A Advieo. $card .. vrimiuendation.1 .0h J.Uly 1D;2013,thO Prapdsed-i appal'..udgetand updated Capital.improvement Ptpn w®re disctisssd et m.ee ings of the.Finance and Cityw[de"'eats ComnO tree and the proposad Capital Bud$et and CIS' , re sots.the'fun'.. rsaomrnendatlons from that meet In . Flnattdtaf Iitfonnatlow, ` Sou106 of Ataoyttt Accnuint 4. $18;94 Oa4. ZRD� tar RDA. . 485;001) Anieh or Garegs f _ tSPt Tai. $17;439;p00 rinaitcTal taofuRtrttsrY: 1 eft ClerwS. Office 18IatTvo lEgkin Max War eor a Mintels and John Woodmiff � SI rt�f3ffs:.. . RoB, ., del.ptr or Assistant,Dihector Exe a Diractot MAS J KC3B AM . T.AAaENDA=3%sWaa w 3MRDA t�eptW OtidU gt Sun mart'13.14.doc E , L i AGENDAYMM f , IAMI BEACH' DATE T 36 I i j I RESOLUTION M04 A RESOLUTION OF THE CHAIRPERSON AND.MEMBERS OF THE MIA I. BEACKREDEVELOPMENT AGENCY,ADOPTING ANiDAPPRGPRIATING THE MIAMI BEACH REDEVELOPMENT AGENCY CAPITAL BUDGET-FOR FISCAL (FY) 201311x4. AND ADOPTING THE CAPITAL: IMi�l�O11... .M PLAN P-04.201:31114 THROUGH.20iT110. WHEREA8,.fhee.2013/14—2017/.1.8 Capital Improvement Plan(CIP)forthaMlami Beach Redevoiapyneot A*cy(RDA).is a five year plan for public lrnprovernents and capital®xp tdkures by than RDA;:and . V!HEREAS.,this document Is an official statement.,of publlopaticy regarding'.long-renga- physical devesfapment in the City of Mlami Beach;.and I i WHEREAS,the Proposed Capital Budget for FY 2013/14 Itemizes project funds to be cornmittad during the upcoming fiscal year detailing expenses for project components which Include -architect and engineer,con*uction,equipment,Art In Rabic Plac6s,..and other project coats;.and. 1 ERr-AS, on July 't0, 203 funding heads for the FY- 2013!94.kapos®d Capital Budget and CIP were disused at a.meeting df the City of Miami Beach Finance pnd Citywide. Projects,Cornmlttee and the funding recommendations are reflected;and ' MEREAS,-the proposed RDA Capital-Budget,for FY 2013114 totals$17,304,000, � Including$67;000 to R4newal and Replacement projeft;and { 1 WHEREAS, the proposad Anchor Cage Capital Budget for PY 2613/14 totals $455,400,Including$220.,060 in.Reftevmt and Replacementprojects and WHEREAS,a copy-of the proposed projects to be appropriated with the FY 2013114 # Capital Budget and.tfi®CtP for FY 203114 through 2017118 are provided in Attachment mK hereto, � NOW, TH9REFOM.BE IT RESOLVED'BY THE CHAIRPERSON AND MEMBERS.CF THE MAMI®EACH REBEVLO PMENT AGENCY,that the Chairperson and Members hereby adopt:sirid. app!npriata,.thy ami Beach <riDp►.'.Capitat Budget for.FY 2Q1:3/14 aend the:CIP for FY 201314 thrnaugh 2017118. PASSED.AND ADOPTED THIS 30TH DAY OF SIEPTEMs E 2B11 CHAIRMIMON Ave 3 INCOR. RAT Q,l� APPROVEDASTO 1 SECRETARY . { VinH1V /�Jc7NW1�,UP y . CUT(ON Again i Cio ^SB1 e MIAMI.-BEACH CityOWWnfiSemb I.FBO Qny&0gn Csntar DAmj Wami Bsgch,Hartda 33134 vEw.0arol6evchA.ga►v COMMISSION MEMORANDUM TO. Chairperson Matti Herrera saver and h embers of a Miami Beach Redevelopmet t.Agency .�.. FROW. .Jimmy L.Morale% Director � PMEt Sepfembw310,ZQ1.3 SECT:A RSSOILUTION OF THE Gi�i,�RPEREON AN0 NIEMBER$ OF THE 3{fItA1�1� BEACH IREDi EVQRMENTAQENCY,ADO,Tif GANDAPPROPR1ATlNta:TNE MIAMI BtAC14 REDEVELOPMENTAG.ENCY CAPITAL BUDGET FOR FISCAL YEAR(FY)201.38.4 AND ADOPTING Y149 CAPITAL IMPROVEMENT PLAN FOR Fy. 13M .2017110 Adopt the Resolution, BACKGROUND i Planning far of piia#improvements Is an ongoing process;as heads change Within the t lWo Redevetoprtit"It Oistnct ekbki,capital prog�°ams and:priarftiea*mt�st be pdjusted.1he CaPtal E :ImprWarrient Plan eQIPJ aer�es as.the.primary.planCilt>Ig:tool for yaiemat�oalty Identifying, prioritizing and.assigning to critlti GPty and RDA capitaC deveioiment,lmprovernants and .associated needs. That RD�4 capital impi'ouerYtent plan praaesa:began in Erie.spring when all deparfinen are a asKed.to prepare capital improvement updates ared,regot is on.tht3 departtr�teri�'s ongoing and .Pro posed .capi#aI pt�jects. 1rtdlvldual de-artthents -re are submitta#s idonft. in potential P P p �Y .9 fcii.09 sourc*s"shd.requosthq-aommitil�nt of funds fat their respec ve projects. The proposo.d6:cun*o iAt-Is re!�t�r+ve�.bY.thQ.pity Manager,and uportApprovat,Js submitted-tp the 19nance-end 01 W'", Project$Committee:and the City Commission/Redevelopment Ageriey- �oattsl forfinal approval andAdaption. The..GI.P was created as a P I ..:for protects that. mire-signifiix�nt.capital Investment and to Intended to$erve.:as.:an.6ff`icial atoW*nt.pf puhiio policy regarding WWI . '00 p.Ysloal d&elopmentJn the UY of Miaml Beach. The UP specfges and 4eecribes-the Cit.ys.t�apital project plan.gind.establishes prior#ties far the.upc orriing fiva:year period. Individual prays within neighborhood areas.have been combirred'to create"psc'ka&e of' -projectt.11hat address the-heighborhood needs for infrastructure upgrades, traffic flow, enhatnt3efirienta,stc. This irprehehs#ve.appraac hgjm mlid$risruptions-and.g�erates costs savings. -Tile :pfdjeds address many needs In. -ditfersht areas.of the Oity including: neighborho6d enhancements such as: landscaping, sidewalk resforativn, traffic cawng, lighting,parking,water and sewersystem Improvements,drainage improvements and roadway .ressurfacing/reconstrucflon;perk renovation and upgrades;And-construction or renovation of publiG facit�s. 1 . .. - .. .. ...._. v _. ._.... _. .......__._._- -_... _v _.... ..........._._... r.r+.w•Fr•+�•ur•w+rrww�r.rrn.4�r rr.._r..r..... T _.... . ... City cd"astm t4�emot�rrdirm R,4o/1fts Ad*ft FY 20 114 Gapttat SudO acrd FY 201W14—2tr1 7118 ti1P W(ho RIM , 65eptemW30,2013 ( ,page 2 The AdrMprsfhation ispresall0ng the proposed-FY2Qi 3/14 Capttai Budg*and the updated CIP fgr.PY 201131'14 ?Q17110,following'a comprehensive review of the C IP to insure that the Plan ; -accuratet�t reflects all project budgets;funding sources and u*rltme'nts,for adoption by-the iht Commloslom ANALYSIS � Capital Improveriirent Plan: [ 1 The.FY:2013/14---2017118.CIP for the City of,Mlami Seaoh":and the RDA46 afire.year plan for public limpitovemerntu.'and apital sxpendituras.liy the Oity and thei ROX This doc4menE is on ofiiciai statamQnt of ublic p 9q.regardhg Jong-rang®physical 4evelo meat.in thin City-of R -:. R .y Miami Butch and.the RDA. 'The,approved Gepltat-Impr6vement Plan has:ta4an updated to Include prajacts that.W111-tae active turfing:FY 10'13114 4-:2017/'18. The Plan has been upoat>sd to Include sddltiorlatfunding sou mes'thethave become SU 'ilabie, ; changes,in praject..timing,,and.othdr adjustments to-ongoing projects es.thoy have become bettar defined. Certain adjustments have been made to reflect projects that have been r000nfi urged, combined With.or-Osparated from other ro s r8ad10Cp�G019roup� and are the result of a domprehensive review of the program to insure that our plan accurately r tote all project budgets,funding sourdes and commitments. ' Available Capital Funding i Rased on'tho 2013 CdMe..d Texabla Value.of the.City CQtiter Redevelopment Area(RDA), property Velues have risen 7.3%for FY 2013/1.4,Net of operating-costs,the.RDA W111 gerterate X17,344:million in available funding for capital proieels iri this City Center RDA.. T Proposed RDA Capital Budget The City CenW RDA FY 2013114 renewal.and re :lacement-prvjects total$67,000: In addi5an, i the City Otter Al DiA FY 2t 1311.4 proposed Caps W:Budget of.$4 717.237 million 1fteludes '$12:2 million:in fundirt0."foc the aoristWWon of the Collins Perk.Garei ' $3.75:[rrri 111 for the i Bass Altus®'Um it1f�d*Expanafan,0*,0Mfor'the Eudid.Aveh re tmpravemehts,-$a28 000 t Ithe City Caner 98 project,;550: or Leger Fees�sQtaatad r�iti7 oet�in�gatio' on the ;CIW-Center 9A crdledt,.grid$M01000 for the.Lini�in Road Master'Plan Stu :The'Anchor Shopa and Parld. Garage Fund,which Is se 6 ng g_ separate be�aapse it is not part of tt�e Tax Increment funding of the RDA,has proposed capital.projects oaf.$240,004 for Phase 11 of the upgrade to the gated parking revenue control system and$25,000 fair a garage structural engineerin -studyR [t e(ab has h X013/14 renewal end rsptau emer<t rie total'irtg$220,fiQO and$26 0 for.caOltal ptojects-In the.Andhor Garage. DCONCLUSION: [ The Ai rrilnieNition'recommend_s ado n.of the. ch d Re olutiQi,wf7ir ea�kabli he~r the Ca ttal.f udggt f6r the RDA for FY 2013114 and the Capitail Improvemernt:Program far FY 2t?f 017118. JLM/K.�WA.S { M AGENIMUM318ep oftr 301RMA QWal b fttjt memo 13',14.doo' . 39 l paten Lfacala kd LanftcPPW4AhftfO VMA 1tiQ900 a o 0 0 o a i60,00aZ a4Mtmfp UwmIn IM.tVfaa.Faw4atft ftVAwd5mP t ,aata e 0 0 0• a .0 ex sls PhMWO MmMM RaW t en&c .P1r is 16q QUO. 0 0 0 a '0 o tKOOD t41Aed1o. (6taarnP 0m4la#impea um mpohm. d A.0 '0 0 d A. 0 o UAW iwe@ncaap c,bmoMRoadMasteraOyYSt+�y+' 0 500,000 a 0 0 � ti 6D0,oW tMattat laaeaal.ldYAsrwt�eabxave Q o 140co<000 t0mouo0 0 o a ?AAOo mar tumsn Ptojpek Cans Axendo 1aS,40Q o 0 0 .o o Q 136.090 ummthomtr 65agd1�►tf11wufmReptrltaR Meg Q a o 0 0 0 9sataa �ramn�uar Wad ct.t daliiiaCAbiW:a:4MA sold a a o o n 50AM *ea%ohtaar -MW%CfttAttOeAiorra*-P8tt 299,260 -0 .0 a 0 0 0 2M260 [moo k1lCRrBB>?I_1NftidObiR 68.481 0 b 0 0 a .0 08l0t twpeetaeost PadeSt�lvWn�tgi�PnC �B;O40 0 4 0 O Q 0 6,000 plamuaoenle treanayt+rardaplawY�atd& pimRS}1 Bk 17,OB8.115 0 0 0 a 0 0 i1,Q1�,f�8 PQQPttftu Pmf mw tm P4A"lioiaga 0 0 0 0 0 b 78000.000 7D.00a000 Peer wwmpr :Reserve-Bad Ave W at LImak Ftd 416,620 89.000 0 0 0 0 0 485,8701 hnarbdma 84gm ww&dG ns c&v Cot 108,86? 0 0 0 0 0' 0 t;208.8�t m andup Yuri Roceafeda` 0 0 o p A Q 86,090 t"Wastrolt > A h enra "ONO o a 0 o 1 .a Tao.�oo 13tttat 16626.00 i40tsonR f 7a9;o90 1oo60ao0 0 0 0>},e69,909 ,fafA0g,OlO 403 RUA*Anchor Game FWA t+ re6atP. atc3$ra�A�Reptaomiiefit4 t GGAZ0 0 0 0 0 0 o e�mti rraaaabelc AAC�tGe� .�o14�-�. ssras5. 0 Q o a o o �7,99s asebehfoo AnetWrOPMRepal Sad Upkgd 0 22UN 0 0 trsancerw Aft"OampP-ofRtpbm'4" 05.65 0 0 0 0 0 85,615 mmhao0 Atklip QW$O5hIWaI E iQ ftMIy 11 25.009 0 0 Il 0 0 25,000 i S name:. -Anctw Shops Fim.&pt6MP4PbOWtft 78.645 0' 0 p 0 0 0' 75,e45 Fgoe,fty t;,to6eacbvATo%vlstoa6w m 11400 0 0 0 o a 0 Pecat oot Pq an.Fowtom?ttleCTd" 280.1700. 0 0 0 0 0. :a 2tt0,000 agOtnbaep8 (t4Y,erwp C4Mtdl�gp pheBe O 0. 240.000 0 0 0 0 0 240,000 8itene 1,03MOR: assAoo o 0 a o 0 t,0t reo09 ; r 487 Ra<1nd487 Penn ftmoe PPWOhk: ONO WftqTWjbbO WtWm 20690 0 .0 0 0 0 .0 m,O� eget mpt. Rateiioh MOW EQp' *&t 69 00. 0 0' 0 0 0 0 8$,400 SYtrK WO 0 0 .0 q 0 11 -0 09.000 . I r r (t I i 1 a r ; 40 ' RESOI,uTEON NO.. .696.2013 i A RESOLUTION OF'THE CHAIRPERSONAND`MEMBE S OF YHE } MIAM I BEACH REDEV15 PMENT .A�'EN.CY ADOPTING I APPRORRIATINO-ME:FIRST AMENDm 'Tt3 THE OPERATING. BUDGE' FOR THECiTY-CENTER REDEVELOPMENT.AREAs.FOR FISCAL YEAR 2 0921131 WHEREAS,the:tatty Center Redevelopment Ate. -0udgot-f Flaw►!.Year 2012!13 Was ado pted on September 27,201 via.Resoluflon No.588-2-012;and WHEREAS, the. proposed City Center Redevelopment Area. Budget reflects anticipated cx nstru on project costs in..addi onto operadng ttd:debt sets-1ce costs for the fiscal year, and' WHEREAS,the'Redevelopment Agency.adopted R�salutioh No,5 -?01 3 on,dune i 5, .2013, betting :a pwpl hearing to .00rasider the first amerrc#rYient to tea t 2012!'i:3 '. operating budget for the+Gitjl Center Redevetopntent.-Area; an ! WHEREAS,the Administration:recomends adopting end.appropriating the First _.... i Amendment tQ the RDA Budget to reflect lncreaso-exper ditures rolative.to:kheCor vention Center Enhancement and Expansion Project and real estate taxes associated w th'340 23 Street,whie h will:be offsatw ith increased resort.tax revenue,as-Well as funds esoroWed for the 2011 real estate taxes for 340-23'�Street: ' { NOW, THEREFORE, BE IT DULY RESOLVED BY THE CHAIRPERSON AND MEMBERS OF THE MIAMI BEACH REDEVELOPMENT�A GENOY,that the-Chairperson , and Members of the Miami Beach.Redevelopment Agency hereby adopt and appropriate.� ' the firstah"ndment'to the op'erat n budget for they City Canter Redevelopment Area,for ' Fiscal-Year 2012/13,appropriating an additionsi-$52%728: - 1 i Original Adopted..Budget $36,771,000 Proposed Amendment $ $6$;000 Proposed Amended Budget. $377{34a;At?0 , , -PASSED AN6 ADOPTED THIS lf"DAY OF JULyt..2 13. I7 ®r. G A#RPERSON ATTEST: ` �- INCOR SCREYARY .. . S LMGUA . Y;{q�El��i3�►t71FU?Ai�et�dae�201Y4 2 �1"f. . i JL+ -McuinON `1`3 W Date E i , 41 , T ---....._- I MIAMI BEACH REDEVELOPMENT AGENCY ITEM SUMMARY Coodensed TWO: A:Resotuff6n Of The Chakparson.And Members Of The Want!Beach R velopment ency Adopting And Appro priating The First IAmendmont.To.The OPeming udget For The City Center Rederrefa meat Area,For fWal Yew 2t?i2113, Key'[n(enrted:0uliccRne Su r�edi improve the-Cs. vafI nnst* atng a - t �d lam . upporting€1n#a.(8grieys,.EnV1ronrnent&l Scan,eW.0 WA. item SoMm' a /Recomrnend. on". Tlie fit dge fdt'ti` Glty'CeritetR r . rnet�f l�ta Rt)A)lain Fiscal esrt'2D1 . 3 w"a ipr!ad on September 27',2012 withihe odootion.o(f 6e 6( 14.6-66041.0 2;.U.a .ed'veb u- A goo oy acttcp ResoluOon.N0,:595- a04 on Jun+a S.2413, setting a public hearing.to consider the first amendment.to the FY 2012!13 operatiriA budget for:the City Center Redevelopstnent/Area... .7fieamendmsnt.to the":aperaff budgatforCttyCenterRedove lopMent-Areaisbd(ngdortietQ:address-Increased expenses attributed to the agreement with StrategicAdvsory Group(GAG},which is for an amount not to exosed. $324,943.41 through Julie 2014..Thd Rodevelopmsrit Agency budgeted X250,00 In the FY'201211$budgeltas a plaoeholdor:to.fund.thin agceernettkprjortp:negO#*g end apix.o 9.Phaoe:h.af W's c antrapt, Therefore,an add3tiandl amautif.aP appra>timateIy X "qW.,Is.requited.to fund fie.remaTnirig portion o SAT's agreement: ! Addltlortal legal services are atsa anticipated.from qutslde cx�insei to draft the davelapment eement gr�aund leases, as well-as other related 6ohtf6dts Mqulr®d for the Cottventiort Center EnhanWmwit-and.Expansion project The R;Igveto ment Agenwalso experipr1po unpoW sled expenses associated.vuittithe pa ent.aftea[estate taxes for theOopody1doeted at340 23 St 60. Thls projae was purcltaset!fc+orri Amer Rititera Real Estate: Gompahy(Amer(aan Riviera)for the dMiopment of the Colfins:Park Garage. The City„entered into a Parking Pemilt Agrearriertt Wth Amarrleain Ridieta far its cor►tint ed use of the mWace•parldng tot%atthis location, Pui smt-. to$eati4n$of.the Agreement;American Riviera.is required to pay,ati real estate;taxas:theetate imrsedainst the property.How®ver,real estate takes'i�ere not psfd W-2011 arid.2012,wlt(dh rogtiir d the Redoveloptt*ht Agency to pay-the tams a nd:proceed.:to.issuq Arnericen Riviera a Notlea of Termination. I � - ` These exp�:Cues are pff.�setb��fillies$M,104.4p v�hlchweirle escrowed.at closing 20`14 property taxes fortt�a pn6pe ty cated at 340 23' Street. l dit(dnaily,Resorf b ;RbVenUle-fs..projected to,tta.$6;221.,&¢8 witch-is $637;04-8 more Oan the bl dgete�amotmt.4$4'j X4,000.These$dditna�re�nues,wi(1 be.used.to cxyvsrthe.real estate taxes for 3$0 23r Stree[ and eddittonal cansuittng srtd legal gcpense for theortventar} Winter Enhancement o nd'WarWon P. edt.. . AdvlaooL Board Recommendatlon N.A. Fktsirrcto intomiation: Source of Amount Account.. Funds: 1 4400000 168-1986-000312(Professional ces) 2 $129F00a 1.6.8-1905,OD0389(Property TWS) 3. $11100 Repayment—Prior Yr Fund Bakince, 4 0,711,0 00) Reduotlon-of OpbrWo Expetnses e OEM Toted $689,00D .Flnanclal Ihnpact SumMarr,.'The amendment is to gddress increased expense$Which wili:be-oftset with IncreamW molt tax revenue. City Cier ve OTtAtwlaladve Tracking. Max SkI EXL 6116 - Rb� budget Assistant Lxecuuve d ato v. —.41, JWQ094A Di r A rec r Fy • 1 { nLWpMW4013UWy 17%RQA 2-13 smtm oa MIAMSEACH AGENDA ITEM t 42 ----- ------—--- --- MIAMIBEA-CH' i J ' i i ch►-Df.#taW:s .Arao CwwWW Cantu DO",Mimi Bemh,:F ctWa,3313Q,wwv,miomlbeoc h.gciv I i. RPDEYFLOPMENT AGENCY MEMORANDUM I To: Chairperson and Mambers:of the lmia-mi adh R Pen..t Agency FRom: Jlmmy L:Morales.Executive Diredtor- I DATE: July'17,:2013 PUBLIC NEARING ! Sumcf; .A RESOLUTION OF THE CHAIRPE. N AND MEMBERS OF THE, MIAMI BEACH REDEVELOPMENT' AGENCY ADOPTING AND APPROPRIATING THR FIRST ' AMENDMENT TO THE OPERATING EUDCET FOR THE CITY CENTER • REDEVEL.Ot�'tiflBNT'AAEA,FO 1 FISCAL YEAR 2812113: i AAIAI,NIJ T10N:itEC IE.. I0 Adapt the Ftesolution. KEY..INTENDED Offe cOME Offs SUPPQMD Improve the.City's tnanclal healkh and maintain overall bond raring: ' ANA USA the bud et for the C Center Redevelo meet Area RDA for Fiscal Year 2012/13 was approved 8 � p � (RDA) . �.. l�A j on September.27i 2012 with the.adoption of-Resolution No.583-201.2:. _ City Center Redevelopment Area revenue.sources include City and County Tax increment;Resort i Tax contributions; -a % mill. levy net asTdo for the Children's Trust pursuant to on. Int�rlacal Agreement,-dated August 16., 2004 between the RDA,the City of MlaiMi Beach and Miami-lads Countir,ein an 001mate interest ktctitne. cap . xpenses'Include commurky policing Irilg�tives in City Centeno, :City Canter RedeVei mart Area:e to provids enhanced levels of stafting'and servicas throughout the area,capital projects- ; and maintenance of RDA capital projects.Administrative Expenses compt€sing a.management fee 'allocated to the General Fund'to.pay for..dkect and indirect staff support.for the RDA;operating expenseg'a set aside for.on-goin8 planning.and consulting work:related to the Conventidn Center expanslon.master plan;-capital renewal and replacement:projects under$25,000. The City Center Redevelopment Area also annually assumes the combined debt service on the ' 20:05 Sergi Bonds and tho Parity Bonds accounts.for apprQxximately$8..4 Million annually. City Center also-continues assuming debt service payments on the portion-of the Gulf.Bteeae Loan used I to pay for the-Bass-Museum expansion and renovadon,.arld fepoftn.of the Sunshine State Loan Program used for Lincoln Read improvements: Tho Redevelopment Agency adopted Resolution No.595-2013 dh.June 5,.2013;setting�a pUblic hearing to 16onsider the ftt amendment to Vm FY 2012113 operating budget for.the City Center ► Redevelopment Area. The amendment to the.operating budget-Mr City Center'Redevelopment I 43 1 t RW Amendmenito the FY2012/1.3 opemmg&dgetforCity GenterRadavelopment Area Jaly 17,20 13 ' a2of2 i Area Is,being done to.addressincreased expenses relating to the Cormntton:Center Enftancement and Expansion Project,which.will fie.offset:wt+th Increased resort tic revema.. L t increased expenses are attributed to the egr+eernW w9h StrategleAdvisory Group:-(GAG).Which is for an amount not to exceed $32�4,W.41 through June 2014: The Redavelapment Agency ' budgeted b4,�0:jet°tii:Fly 201 !0 budget ea a placeholder:to fund this.agreement prior to 1 nego.laft.— -and approving phase Il of SANG°s: c onfract. Therefore, an addMonal amount of eppraxiMataly$75,000 ls r+equlrsd:to.fund the retraining podion:.of SAG's agreement: Adciitlonel legal sarvicea are-iiso'antidpated tombutside.comisel to draft the development agreement ground leas,as well as other WOW contrac#s required for the Convention Center Enhancement and '. Expension.PMJect. The Redevelopment Agenoyr also expe&noed unantic�ated expenses aesooiated*w.th°the payment of real estate takes for the property located.at.34Q:23 Street the site of the proposed=Colilns Park Gat§®: As you.irigy recap.this property-wes purchased from.American Rlv -Real'Estato E3orripsny(American,Riviera)fog'the,developW''' of the Collins.P Garage; ,%part of the i purchase agreement with Amarimp Riviera the-City amt®red into.a Parking•.Permit.Agreement-with American:Riviera for Its continued'use of a aurtace parking lots at.this looation.. Pursuant to Section 0 of the Agreement, Arnerle in Riviera is.required to_pall all real estaf taxes that are Imposed egalr>stthe property. However;Peal estate taxes wete riot pald for 201 I atid.2Qg 2.;which required the Redevelopment Agency to pay the taxes and proceed to.iss�ua American,.�viera a Notice of Termination. Amadcan Riviera made a.settlement offer vvhioh was;re]ected. The-City Attorney's Office and the-Administration contihue.to negotiations for sietoomerd: These expenses-are off-set by funds-$24,.104A9',which were escrowed at closing for 2011:property � taxes for the property located at 340 23r$.Street` Additionaly;.Resort Tay,'Revenue Is projected to. be:$5,221;848-which:is$537,648 more then the budgeted amount of$4,084;000.These additiohai. revenues will be used to cover the real estate taxes-for 340 23"�Street and additional consutting antl legal expense.for the Convention Center Ehhancernent and Expansion Project. Attached as-Exhibit W is e-surnrn"of ROA budgetwhich refleots the originei adoptetl budget anJ j i the proposed amended.budget. ` gioNgLUSION E The Etc live Director recommends adopting the Resolution. i i Jt.MIK MS/ T.AAC9N0AW13U*IMDA Riot AWndment2812-93 Mwn0.da0 i t r 1 i i i i i i i t Mla1d BUch Rdtletlsloptltftl AGONY City Center Rade WaprttentAma FY 2012 44 Proposed(*er0ng 130"et nttnay D3=13 FY2012M FY9612HS. Adedtrd AMWe8 Valance : ttav$nuee.�a other�uurces of taa>taa Taxlaemeht Coyti).J88395820 9( 19L188,000 6 19,96s,Otld S Acqusb far PrWYSar lnire#rF 4(2) $ (1;671,040) S .(1,871,000) 8. Tax ftwo tent-tbtRlt il)le"I1400 $ 14.81S,dbQ S 14,010;000 4' - Ad)ustntarttfor PllctYaar lnaranent{S) (1,898;1140) $ {t•89s,OQ8) $ 601%OahWxdm ftm Ramd tot ias#61 00.8 481490) $ 4;®e4,oc9 $ 8,221,8411 'I��1I Qhiid�elt'aTtitetC0nl on(,03.10$-3+4695Q 8 1AM0,D0 $ t6"40.$ (4,6W Rdero 4 trwme: les-80"1146 S -13-W. $ AM .S '1Z,o0 Fdr18 Batarrce ReaQocatlon:(Non-TtE) S - $ - $ Fined Batons Raftw8l gad lReplaee ft*• S - 8 S Qld9r.Ip0omelAd$tsi410t41$:.I 109 = $ 174 L04 S 2410$ [ �nrAi:.t�v in s OMAN 47; 00 WAST Ac�nfnfQpBtst#1:8 Etrpeasea(1st►=1685) MOtagement too(ealarle8.�'b1►atUa)180(100 .322)` 5 1.041,000 S 1;441,000 S' ,1Nerragament fee 6 0,000. S (9,0110) rte=a en% S 4,995 2 (44000} Post$$e,prlr0ing ma t88�21. $ 1,000 a t,fiiio - E OWCO-QupORO egtiipMeM U"41 $. 2.094 2;006 8 0018r C)pem rig 168 134S $ - $ • I TOO$laa me S • S. 128,7$11 .8 129,788 ' Piofatawwa retard fae3 180 318 $ ,noa .$ $60,QD0 fi 4 ;0110 i l�epaite$fiAsMtenBrtce 18$342 S 68,000 S 980000 8 ! Mlscaganem:4upen:esft3m):36802408,343) 8T.000 $ .47,000 S Total AdmtalO rating a $ 1^000. # 1,867,729 .>a 521;729 .PrgjegF-Ape_rteaa owwm*t?o t58-1124 $ %741 A00 $ $,74000 - PMWA 1+1*tertair w 1 ftpft 0anaBemant lee-9804 8 1,141;1100 $ 1,149;* t - $anlfabon:lss-01#88 0►eer ,acs:fes-,0986 8 769.500 $ ydd:l69 S i88;sa1) Sub-TM Cap Pml6 m klaLi OMw 4,499,011[, $ 4,440;169 8 '(68.881) } l+lm trroject ukolh Park,C4mpkit6nthip" $ 8 MYS P(*d-&aat4*,W s $: } Tmndw tp POW aaroo.,paoft 15sz1 eOW.0461 8 408 o0b ffi 408AN.. S ! TreMaferto Penn Garagb;R9tm11168-'i138Cr840461 T18nakr to CeplW{8):188�19U•Qap401 • S 14,4 UM S 14,443,000 S ' TmneWio cOPW fte� a".Offa (6) 8 MOW Trans�r to Cep8a1(6) $ 11tso0 T6W PCOJW t-MMWa s $ 93,58@,000 $028,169 11 {58,$11) R ReSeno'and Oeb$eeriAcs�,11gaf ions S - � - oebt 8er►rtae Cost•20�a> r0jt8omts 2Ge-5G $ 8.416,400 S 0,44000 $ CROW debt SaNka-UnoWn Rd Pft (7j i •611 $ f8S,000 S 7 ,000 C1rritnt Vebl•ServibWY'Base Kmauni q IUM 5 503,400 543,OOD ► Reaervafor.E�sttirkM�iFae{9�.1¢&S�1 .S 198. 0 S S � il"w a for 1 C:al wmii a(to)40"11$ $ 262,Go $ 261,009 as WvaarC iA4S 55 (4,596} Ruerm for Coftir"Parlft(3arege $ - Rep$pmeat49rwt Ytfww Bakke S $ 11 t,al;s $ ii�,059 'Tout Ras'ar'vsandQebtli0rvka 8 iIA43,48$ 8 108,450 TOTAL.l?7€PEKBE8 AND OBUGATIONS 3 @,T7t,090 REVMffS'-EXPOWN UREB 45 I _..._.. _ ---._.._,.,........_._..,_,_._................--.......... . _.--• -- t�"E. i-UJ E27;2813'• .. �NL IMIAM-3B.-EAC H -NOTICE�F UBLI �tIEAR�N iS f�Fii:1I Nj:RM&ep that pub�c,hi W11 be hw•fir e.i syor:and CR cflmmtsslon- the.Ctjr oftn� jdt,�tdei'!ri the Inrilisiltmberlyd Fpi� iA►Haf11200 on, i .cebr 0(4-Nemt 8enc , gtida;�Wedr,". y�,dui jr 17;2a1a to ronsida the loflbw(. I • T s • + ft. di'1'f1d.Clia�rp�sori�dYbe�nfts'bf.Tite•Mjbial B$a�lt.•t�de�l�lopm$nYA�etliyr .a> i The FtMtl tlmb0.P-7t*01 faur@ suet or'm city �. edaYelorttq�tq®�;F{lr l�scal Y�ar'24i/13r; � •bu�ilites may be dlr6oted fo•ttte'Toudsm endCW6nat DeiilBt4�•I?�r{(Ile!►t et}(3¢5�;873�`�7.7,a�.. o�00100•ft �mow 00944+GRV Co .tamer:3 :t �Etectlatl$;6y' tclddl�t Rowe 7o*Ap*A1Q at>�tutol'!►tPfo m ns Of�IorlaE�c�on -Rrors;*Amw ding.:*:tlade Sew.31W 4'ProWde for.Camthloolon Canvasatrtg Qt; Cieg( pit The: rst;BuSt ,My;J mecl el col Wiry'jtte t Runty 66p%rdscrOt td t tsepaiice OtjRnat q Returns Algid•Gpgiir�ntllg tlioti�atlon Oi,•ERi�gel ; Inm l4n-"n.Yi4n Ij Any-cpmmWll M•setinp Ulf0utd ib•t30tweea: enr rel,t edtiljn Daly And;Arcceptpnca Qf flrrai aun-Oft�1sc Returns; 'AdIng•Cily Cotldt ectidh 8-6,01Y � E.�tgbl[wag The^Mnbbt Of Daye'Forfro Uo (tg tte]ative'(a G�Nar�t;•�Un-tlftAAd SAe�di 1 8$rtim sln Ctly'G¢tln�alsn�ltrUibitzltlbh't)t Sara+VBtlrts end Authoi�iing'�ilrC4rfitnlq� ` lie:q�nge.` arty YOffnB'sa ute For El'ectCpnB:-Not-twd i� ConJttign•With 0vUgtva7c• State Etectibns;And D raatirfi�City Core Sectlo `9r tt?Ettiitied"�elltlo 'Edtdbtls IMcmetioh' 'To 9 PQds.d %F:t�e Mon...Cltculntor$:Add>?e'rsa r'S�gnin 'tni liver-Ri3 erdmfirjri ;gjftlyQf Re�aii:Fettltons• • - �� ..j.._ ,,':;' t :;. ". t tnquufies meY6s diced tgtl� yAomey's_` oo�7 .j 1a3D�,f1l:• ti.n..,3r•{,'y',w' .. - -•.� ..- - • ..•1. •• +;a Ordfrtanc _Amertdir 1� 'p �•i y �F� ;lie :..y A�ioet ing Gtiapter ;:EpPjW1 d .°. (ti`,dl 'd; �t"i►t1Ed �t Arr cotprtttees�"sy.Rme jr t)t t i.: +, ,,;$f1�lm_. Se �n'2�22r&111tied°General R i[$me ,"TO,Pi06; ' l Fr�er�§'C•iFf� clsl �-(r.G�f;ph The Boert!•Qt l4dpli. Ntit�_Bt�� e: I ReY(eW Boald,11 d' Eodb.,fta i Uon-�oBrd,�y'lm dfnaledmi 2-24,l ted'1•er�tlk�ioa , :tom Of,11�8neyr t .��Cat�r MBrpbe ""�,Arr�iltj.7he 8cceptivn moons 7Q`,. z Slaecial 1Gi88 t !$d purshtto> 2� � �: r,•, ;� ,. , aunts�►asdm the ±AttoiterA itt(3 �� to. liif[>~tQ Pte$ere ttivt Uo a lets mee ;of be teptted by en. t tRav�ui wrhliig ad '�h6.G i' ia>i nr don't Gi erg;0,00 cQ4 nbi;Cettter Driver Est roar,t .Nap, 8r., 83t ;. oitt�e�Gems�rdave�eble fo�puStic tnspecdmi Qtdipg ncfi�t+8stness hat rte 91'9 . td70�Qr•sCoi tn!eenn t twiil y:ae Rrtir$u�s1ds t Rd a Owr;i dtar1 s Fid�m-e h r . ' ckcums(ances'edltmtiat.t�ge! I itat tie :.: ��..N ';:.,t..r t;np.t•..=, (p':.. 1 l � y..,,�� • �'. .��•, .s.� , i�'F'•: • �C' -~• ,.,►W�1'G.�irAl1!aCrVl� W{� - t 'Paisu�irt>b ec ait A86:tl1 tt ,Fla. eti 1m pry b Batt:If apft4dewo w. app�anpirs�si�triatle.�►►tite.tatybn}tunis�n,�il>t�respecf tbarermattet wnsldeiad 8t tt9• g of tls if ea mvp. p-8-r n iilvd.egi s}' t-q.irerbmA.record-of the gmcbeifrmge b tide,w1ft tecordlq rdes the tt tt yStu evldeliCe.Up �Ath t tha appeal t4 f Ttr s t des ; i 00MAft bitrivatnr nssori brotj`rse taaatntssorleisirt' ; ' euldQt�rr�,�.A�tf.Cori Zeta�ltep9$sara�s'no'Yothet�se t#Y . ! Tu ii male w 1n�60 ssltda i$fttrat�tti iddrtgiteige I rg reters,.i�fprni�tioti�n•access fot � � pet�gns wdii.ditfi� '.m!y ...accod>�I�to rsr�ew•:aAy.'�acUme�t.uf patgclpafh� ! � _ .Ctat ed prece itri�.p se ooMai'd i�s'�►►e daystn tidvanceatY }078 7411(v'atc$y'oF l trlajl BISO CaQ' 9- a tleiay Nice a1 fStf t r�s!• ;-r !i r t t 1 t• i ) i I I i 46 -1 7 34Nr=: SUNDAY,'OCTOBER-19,-2014 MiamiHerald.com 1 ,MIAMI-HERALD �_ � �hY6•lUl ►- _ CITY OF MIAMI BEACH , NOTICE.OF PUBLIC-HEARINGS ,NOTICE IS HEREBY given that the following pub-lib hearings 'ill:be heard by the Mayor and City Commission of.the City of Miami Beach, Florida, i.n the Commission Chambers, 3rd Floor, City Hall, 1700 Convention Center-Drive, Miami:Beach, Florida, on Wednesday, October 29, 2014, at the times listed, _or as.soon thereafter.as the matter can be heard: - = 5:30 m: p� An Ordinance Amending'Ordinance No.'93-2836-Of The City Of Miami Beach,., ReOariding The .Establishment Of A Trust Fund For The "City Center/Historic- Convention Village.Redevelopment And Revitalization-Area-;' By Amending Section .4ThereofTo Extend The:Period Of Funding The Trust-Fund; Providing For Repealer,�Severability,And An Effective Date. Inquiries-may be directed to the Tourism, Culture and Economic Development Department at 305.673.7577 5:35 P.M. o ..A Resolution Approving, Following A Duly Noticed Public Hearing Pursuant- To Section 163.361(2),. Florida-Statutes,'An Am-mendment To The Miami Beach City-Center/Historic Convention Village Redevelopment And. Revitalization Area Plan (City Center RDA), An Approved Redevelopment.Plan Under The Provisions Of Section 163.360, Florida Statutes (The-Plan); Said Amendments: (A) Incorporating The..City's .Proposed- Convention Center Renovation And Expansion.Project;An.d (B).ProViding-For An Extension Of The City-Center-RDA. At A Ninety Five Percent (95%)Tax:Increment Uhtil.The Earlier Of March 31, 2044, Or The-Date Agency Indebtedness Is.-No Longer Outstanding;. Further Approving -And 'Authorizing The Mayor And City Clerk To Execute A:Third -`Amendment;-By And Among .Miami--Dade -County--(County), The City, And The- Miami_ Beach Redvelopment Agency (RDA),.To The November 16, 1993: Inteelocal'Cooperaii-oti�Agreement, As Ar-hended-(The Interlocal Agreement),- -RelatedToThe--City Center RDA And By WhichThe County.Originally'Delegated ToThe City Certain.Redevelopment Powers Gc nferredToThe County Under Part ..III,.Chaptee 1.63; Florida Statutes (The Community Redevelopment Agreement Act.Of;:1969"'-'Or The "Act"); And Which-Amendment, Among -Other Terms, ExtendsThe.Term Of.The City Center RDA As Provided In Tile Aforestated Plan. .Amendment_,,:And 'Adds_ An Additional Member To The Governing Board-Of The Agency,Who-Shall Be The Miami-Dade County Commissioner Of County Commission Disirict..5,,PursuantTo_Section 163:357(D) OfThe Florida Statutes.- ingdiries-may be directed to-the Tourism,Culture and Economic Development- Department-at 305.67,3.7577 - INTERESTED.PARTIES are invited to appear.at-thi's meeting,or be represented by an .agent, or 'to express their views in writibg addressed to the City Commission-, c/o the City Clerk, 1700 Convention Center Drive,.16t Floor; City. Hall, Miami Beach; Florida, 38139. Copies of these :items -are available for public.ilisspection during normal business hours-in-the City Clerk'5,Offic-e,-1700 Convention Center Drive, 161 Floor, City Hall,-Miami Beach; Florida 33139.TIiis meeting,or any item herein,may.bb-c'ntinudd,and under such circumstance_s,- additional legal notice need not.-be.provided, _.Pursuant'to Section 2286.0105,.FIA.Stat.,the City-hereby.,advises the public that-- if-a=person-decides to appeal-any-decision made by the City Commission with respect'to any matter considered. at its meeting. or-its hearing, eu.ch person must ensure that a verbatim record'of-the proceedings is made,which record includes the testir'ony and evidence upon which-the-appeal is to be based:' This notice.does'.-.not constitute consent by.the City for the introduction or, , admission of otherwise in-admissible or irrelevant evidence, nor.does it . authorize-challenges qr appeals not otherwise allowed by law. _ 7o request.-this material in accessible format,-sign. language interpreters,_ informatioh on access for persons with disabilities and/orany accommodation to.review any document or participate in any City-sponsored proceedinB;- please contact us five days in advance at-(305)-673=7411 (voice) or TTY users May also call the Florida Relay Service at 711. Rafael E_ . Granado,City.Clerk City of Miami Beach Ad 951 - _ MEAM HERALD i MiamiHeralrLam NE THURSDAY,NOVEMBER b,20!14 1 TIKE ................._..........................................._................................................._..............._._..._....................................................._...._........_.................._........................._...._..........,................................................................................................................................................_.........._.._. M a..R.�rw... CITY OF Illy AMI BEACH! NOTICE IEII NOTICE IS NERESY giver,that a public hearing will be hear(!by'the Mayor and City Commission of the City of Miami Beach,Florida,in the Commission Chambers, 3rd Floor, City fall, 1700 Convention Center Drive, Miami Beads, Florida.. on Wednesday,November 19,2014 at 10:05 a.m.,or as soon thereafter as the matter can be heard,to consider, A Resolution Approving, Following A Duly Noticed Pubi ic Hearing Pursuant To Section 1£3.36112), Florida Statutes,An Amendment To The Miami Beach City Cerater istoric Convention Village Redevelopment And Revitalization Area Plan $City Center RDAI,An Approved Redevelopment Plan UnderThe Provisions Of Section 163,360,Florida Statutes IThc Plan,Said Amendments.(A)Intorporating The City°s Proposed Convention Center Renovation And Expansion Project,;And IBS Providing)For An Extension Of They City Cuntor RDA At.A Ninalye Fiver Percent 06%)Tax Increment Until The Earlier Of March 31, 2044, Or The Date Agency Indebtedness Is No Longer Outstanding; Further Approving And Authorizing The Mayor And City Clerk To Execute A Third Amendment, BY And Among Miami-Dade County (County),The City, And The Miami Beach Redevelopment Agency JRDAl,To The Novem4er 16, 1993 Interlocal Cooperation Agreement, As Amended (The Irntorloc.al Agreements, Related To The City Center RDA And By Which The County Originally Delegated To The City Certain Redevelopment Powers Conferred7bThe County Under Fart ill,Chapter 16 3,Fiorida Statutes iThe CrammunitV Redevelopment Agreerrieint Att Of 1969 Or The "Act"),And Which Amendment,Among Other Terms, Extends The Term Of The City Center RDA As Provided In The Aforestatod Plan amendment,And Adds An Additional Member To The Governing Board Of The.Agency,Who Shall Be The Miami-made County Commissioner Of County Commission District 6,Pursuant To Section 163.367td) Of The Florida Statutes, Iaac ui6es may be dined to the Tourism and Economic Oavetopnaart.t Department at 30.5.673.7577 INTERESTED PARTIES are invited to appear at this it eafirtg,or be ruprrtsenwd by an agent,or to express their views in so Ming addressed to the City Commission, clo the City Clerk,1700 Convention Center give,V4 Floor City ball;Miami Beach, Florida 33139-This item.is available for public inspection during normal business hours in the City Clerk's Office, 1700 Convention Center Drive, 1`4 Floor, City Hall,Miami Beach,Florida 33139,This item may be continued,and strider such circumstances,additional legal notice need not be provided- Pursuant to Section 286.0105, Fla. Stat.,the City hereby advises the public that if a person decides to appeal airy deel.sion evade by the City Comr�nission with respect to any matter considered at its meeting or its hearing,such person must et re that a verbatim totoed of tht proceedings is made,which record includes the testimony and evidence u pon which the appeal is to be based.This notice does not constitute consent by the City for the introduction or admission of othemift inadmissible or irrelevant evidence, near does it authorize challenges or.appeals not otherwise allowed by law. To request this material in accessible format, sign languaga interpreters, information on access for persons with disabilities andior any accommodation to review any document or participate in any City-sponsored{proceeding.,:please contact its five clays in advance at 305,673.7411ivoice)orTT"Y users may also call the Florida Relay Service at 711. Rafael E.Granado,City Cleric City of Miami Beach Ad 958 p Cy'U UF.C" CW` OC LOmC C` NC �en -0 'Ell m �E rC y YV • � Eo nci Hp ° OQ a ac-J Om° H 'oc D Ud I aWm Eo 'UG m �E�- �.c cm Om c„ >� c w m oQQ. �QU 'per moo EGa as xo o _ m•-- m in c m m -¢A m m o m -m a E Eoc� o� �o GQ >¢_�-ocU ma`> 'dam G w U U O a'- W 61= J ° Q o o EC u• c 7oi of G d y. cy m2v»Q E.. E? � c T E. �� C ar °'m_?�• ^ �Z' m�� Oo cL xo _!S E O V p _Y- m->°m C'.ryy`c-O Ho N7 F c aL mHL=`>J°Q•�e_Hmm E "-ocO O Zm7C-m u O d z m} d N a L N'EcwooL a U �«`uo°+ o O c a E m Cr •ow >O�> a�° LL E 7,w Q o o Em oy 6E as E r m _ U m O Gtr E co.Q 0 V uc°=y O EI° cc G cG p =. .5N° C) 0 d �o. LL o ¢mmm 7? c � E -F. oo ` ° 0 C m ,B ' cum.m�i V L° m C N Cl) U Q 7 C-5 L G a G 0 cO m c y LO`cC o a>m Er c FI ui Ur?>m mE o� imam C �.m o« CN0 m° oc uU o o° m v m J W c E> a m c > m m `� C'�G a m e �L c0 E m w 5 p 0 m > ° `n= WN c.E.°_v u �o m y E U O W u c m cm E WH LL ° E o o O v a U c r `mawJ�O¢a> m3 c:G Q=LW o m "> -d a> °Qa] E> mm °a �o U cmoc: GE c °HZ >yuc rw £orb. o� mEmw qm «c uo3 T c mLU¢Q>L C '�no0 m o m� C? �U.. 77 cm C-G m e o G� c c m F G H cm '>=m a a m- O= y I W t r o=O G Q of 0 °U o UQ.C��r>•Oi `m« oaf vi E. o �v Or°m moo[ m�i=Q�.Yc c �° =Q Wm o°_ L-m .d E r<n a~ci E�u p, c.> °c=_� �E�c i» -_w on ec a-i r-a m?•« E c y m •3 np E U yE E�Uc W= £' mom =GQa to� ,v yc �m^ Eg� a'o E.E c�� o m m- m'c 7 E'E.� ¢W M�'• ;.,� t.`G _p>ta .E� �E w�m o m E O C�UEwa _w Q.m° dm'L� "o QJE -Wui E EQOci t°L�»'o y�•�-' .o E OE W, c cc mEa u.c=o �a - °�'m vQCR pEdm ma a> �° F. Lmpm w -E> �LLL Ea c C o... ,- a>'- G .'O m`O a> to Q G Z J a1 r N J ai=r U-o ELL_ ° QOE -c U O = m o-6 vNm'NC U o E tdc�cty oQ JcE Q=aci �W=NJ°•°- >_�> «>aU�° E 1i.� HJWQmm~J 'C"C' ai Oo G =cNy U a� E Jo G.0 c c Co Q.c'C E r=p�L Fm Lm �y OUG1� U Z QJ y C ° Eo Mv)p a m L V 0,4 I-� « L m cn G.,Gpmm W •cC r` G cm>� C �.c mtr- > a a JmG G..'OCOCW�j >Eo 'va wr mJmO yN cry W=0 JQ�- c m E ac>y a aci j =° m.E T -o y Q ¢�' ;_ c�.�:Z E v 9 5 c E• o n E m cLL>c G -• d _ _ _m Zn mu m Em_� E =odo _ $ �v'c c-Oa>,cmm Em oLV AGO �m EoLL Game ` Qi'' u G Qd at -. '�:�� c _OGH°> Ua °_ Wy._ v mu `m Q cm.? m Nc -"a m mm Qm= O >coaY-o a LLL cy`o E m S r>y Q W'='-a m a« -° .c G `m u 4 '-O U LL=m m N "G= c = a> `om cci c- oQ°= , '-F' =cQ tm CamEm of Fi Q c =- o>m '«d Uj TW E aDZ.�m Ev GO' u a cc uaQ Qc pm.� JL as ad W� ca 3'mp o= _(n > o J d>U aC c j VS 0)b w E N W E�,G m a�`G G e e p J 0 Wa>..F.� .,_c>-o mJ Ep 'm=.y«E a o Q cO "Q o C a o o E 15O2 >O q m q C a> >C Q J MMWW •E_N E�«v LL C m.0 m.rO-L�m�QQ C�j �`a` mm C e cW iri yU N LG t '3C N LL O .O O�W H C C. E T ry -0 >` Y C a N G £^ . d r..- a D oc °? m d E o ='> °-a�ac>5 �W m(n E Qi� O.` L E A 0 E m H�F 2¢`w tO 5 a 0 m LL LL Op c�oUU ESE p.c oWp Q0 m a U.`ni aE v> L5-W6_m �c x°m O O �.N fOLL�iQ Z�� �� C�U m¢C� �` MQD L>.� .�^= C`E Oa>E HOC NV1 a) m U W= ;-OQL rLL G Um'_ Wul .z' A y a7 U U N A U (•>L w QLL G m_ W O -O m m We_ CQL-M>O,z `> ul v �`o mHO� ,�E.` ..a aEo 7 E o a>iii aci > =«.c � mmC u L `oc� FLU u> W c� rmc =OQO cH ?Q� m.�cao o -2S Zc- =ccUV O� o" `c.�L co•°-, °E _ Q m r ry- o E m G._._ c u L m E'�•o w >m E a'G m� tz Q�Z c`>' c c- `o.^ U., a>W of Eo�°d=-J �� ��m G3'> 0� Q w�_G oQC`on u >rn Eup QN QC cn a� a m m W cnmm�`o>"m~ aC Ttn WY mco �>.« mpc Q•`- m' �co mm �' OrL > E L Q T J> a)._ O O •r G E W G a NO D m C.0 C UO �.� G Q N O r° C . NY U LL C �- W G¢c•> cC L H= m G' y >vm m p d > J .-E o EF ow E_ m °cQ aim a�i °ac>°>�� L-o az� "- /- I >r �¢W.5 n LU LLOa Em E U.- _ o� °`mQE.c'rnm oc mm= ��' wo L o u> c - m m -c> `> U.. y ` m E�N v mQo> m- ism =a��y Q '� UQ �¢¢'cC o o c"m m ,v°>'`- .E m a`m a LL o> m= W Q� >c U a T` a m yov �.Eo u ��• 50�>°O GL(° O NCO WNG CAE„ and E� H,Q i..1L Cm WQ.O Ny ` JAG p pm.F E'" m, LL cmQ o ma U -c UQ a>cd r> m a m> LO »-UCCC. 0.`9 W y.E c«Q fro r>i arc rW pmt vt °'`'= mcQ1i� dr cvoa-Oa.° ',= Ems 0a.0cz oc m� LE? �.Ea>'oc �+'E °H 'aa 5 o r•� UEdEy LLo �'�._ ��= pc>mo�r oW �Eo° a'E 0 (n m o m m c a> m m E c rvi >0,2� O- L° �x o E �� c c= O m� 'E-E.a-Oi~ Z.a> `o=� a m- 0 Z.f9 O r a w o o m io °m c E v '-'L 9 o>E "o-0 cW=ULL`- u2 Va°•°5 m° E,m o.n`m °-Qt`&';E oy o>H zo-E w °= c�_�=u mri _o y a > >H moo Cs J0>L HBO G ULL tJQ=w. '-.Em �m �RJx Ji0 -LE l!1 mo LLa._°WFQy LE W_�_ 0 QHa •Ey WS JoN �..LLr+>m.-> W- m ¢Fiaroa �E o -J n>c -mvE W- dLO- mo.E mu3 c Z LZ °=Ga F-C� o ,:_= m_om° J °C�.o mom? ¢ �LrzE �,> End �?> Q��ma OU �_ ��.-am �N mLLm WM mma`> L L -G J.cc G� o= t Ep a9 'o¢d a�ui a� y v�Q Ot a=i .� c,�a y oa of -�oaE ��o .m; ay zQ v=� o._ CU, g= o Yr Ea` cs c o- c« (S c C.oc c UL o ay o-• a'-v EOVN W `m m v� -JE .oc o Ua -0-C W pa O Em oamo-mxc °._ Q e chi J cLL>CJUS rd yWE cLQ y U c v>U arc o- d=->•- JN3 �g>i Y`0p >._ F d W m'- m z oy o m-a U_V7 o r>• >'y E c N! F 3� O�? m° =U ~° E m'�-a1 O C N L-O > m m'.= j j C'OO`'O m 7 am_ A oc casZ Uc w� c0 a,m�.� race a'vr° >oc WmQ c�cE- d.E ao>m p n� o° QUw�m 3 o p �:, 0 u ��o~,�m 90 E2 �N m Opp �O`m m QLL°_>u' 0.2 m L w N mo = c t aH,_ v>O ���� a `m¢� cv- zm� �c.`oWm-n E . 2 o m cm.' a °> �y 0 ccoo ccmmmcmwK o voc Co V G S r c�E �.N m E p a c°�� =O m^ J C> 0 CJ u m J m�3 0 c C^ O�LL r ll'« LL y° y L. � ' a>E U o J v E m _Q m m c u ism m o Q E E. m G a vi- m ° y e m o .c o m v> w a o m c E G o L'-a m 0 r ° > L c t o ° i h a N U u d O —u-n>m a> 1 L pp ~ `l L CLL O L m a,E`O U Q .0 p�-.' N E OJ $ � C LL>a pF- LL U'�.0 p N_m FTM GN HOW G~°LO QLL a(ti a> ° m- !!! Ian Q> O�'-'-m W O W.c N d c C G> -.z In W= ��- W W...C >°> H C TY C Na C 7a Z >v cdcpu>�c. cEry cw._ EQ¢Z., i cQ i� . c Qc�a a>=TW Wm �m '«_�'= mmF mE0 me } �� °>m oQmJaci�z° �ri� c-0 cc u->crr>`c =.Y� o.tno �cj�y wEvi Yc°i yE o WG CU m ^ m= L Qmm O�� omcm m �? Jo W�- moc o7�G OC �,m in cN'- m p, .✓° m m n=mz m m,� = ° m E E m'� ca E ELI mC o d'E E �=o m .E w 3 p.. Q E_co E�H c E a�J ai z E c �_E•-�- o mLL W m._ �a> dt. E m �i ?' K� Q� c.E TAO Q�Wi Q o °Q 7 ca �Qc�i a�� Q c 2a'°EL-o min m 'c"m of d_M S i -._ _ =r.U y E=w E cmi c- U.«LL rL.o�0 •^m V s G E,_ N.u p E T>-.2 -°' N S, y� .gym EG,aV E =c� mwc `E"�c> "EZ0 �'a Eon LcmQ`~'-> Em'cmmc°i=•�`0 >� E _ E c m> E c .° E'm^E c° E C c rn C E m c_ a m o J a a>3° •- w d c m m�G.m G m:o,0 W._ E m a.� m._« LL- mtn Xi c c U w U LL c o>v J a dm c oU y E o°c E ��ND oLL 'cm'y o,vL 'e �NOC6 ox� c�.-E mL E.°'e m m W ,� -.Et a��m i W ! F w g m c E m am,t L O o Oc�t o O m E ai e>c o c oO.z o x c c o o a Oc.�E e.E>O C._'a>i�� � y c« °o c> >m T o f Zi �' I�„�- ZU QQU SmHOU QmQ ¢va F-.< dQC4 MQWS m¢�ry cn¢tnCacOOQ�- D E° ?gym aLn F-a Q