Ordinance 77-2104 ORDINANCE NO. 77-2104
AN ORDINANCE AMEIJDING CHAPTER 2 OF THE CODE OF
THE CITY OF MIAMI BEACH BY ADDING A NEW ARTICLE
THERETO TO BE NUMBERED ARTICLE VII AND PRO-
VIDING FOR AND ESTABLISHING A REDEVELOPMENT
TRUST FUND PURSUANT TO THE PROVISIONS OF FLORIDA
STATUTES, SECTION 163 . 387.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
MIAMI BEACH, FLORIDA:
SECTION 1: That Chapter 2 of the Code of the City of Miami Beach
be and the same is hereby amended by adding a new
Article thereto to be numbered and to read as follows:
"ARTICLE VII
REDEVELOPMENT TRUST FUND
Section 2-72 . There is hereby established and created
in accordance with the provisions of Florida Statute,
Section 163. 387 a redevelopment trust fund hereafter
referred to as the "Fund. "
Section 2-72 . 1. The funds allocated to, and deposited
into the Fund are hereby appropriated to the Miami
Beach Redevelopment Agency hereafter referred to as
"Agency, " to finance the Miami Beach Community Redevel-
opment Project (hereafter referred to as "Project") as
authorized by the resolution of the Miami Beach City
Council #77-15283 (amended by Resolution #77-15291) ,
said Resolution, as amended, being adopted and made a
part of this Ordinance by reference. The Agency shall
utilize the funds and revenues paid into and earned by
the Fund for all and every community redevelopment pur-
pose delegated to it in the aforementioned Resolution,
as amended, and as contained in the plan for redevelop-
ment and as provided by law, said fund shall exist for
the duration of the project.
Section 2-72 . 2 . There shall be paid into the Fund,
and the City hereby appropriates, commits and sets
over for payment into the Fund, a sum equal to that
increment from the income proceeds, revenues and
funds of the City derived from, or held in connection
with the community redevelopment project area, and the
City' s undertaking and carrying out of the community
redevelopment project therein. Said increment shall
be determined and appropriated annually, and shall be
an amount equal to the difference between:
a. That amount of ad valorem taxes levied each
year by the City on taxable real property contained
within the geographic boundaries of the Project; and
b. That amount of ad valorem taxes which would
have been produced by the rate upon which the tax is
levied each year by or for the City upon the total of
the assessed value of the taxable property in the
Project as shown upon the assessment roll used in
connection with the taxation of such property by the
City, last equalized prior to the effective date of
the Resolution approving the community redevelopment
plan.
OFFICE OF THE CITY ATTORNEY - 1130 WASHINGTON AVENUE - MIAMI BEACH, FLORIDA 33139 i
Section 2-72.3. The City will annually appropriate to the
Fund the aforestated sum at the beginning of the City' s
fiscal year. The Fund shall receive the tax increment
above described only as, if and when such taxes
may be collected by the City. The City' s obliga-
tion to annually appropriate to the Fund shall
commence immediately upon the effective date of
this Ordinance and continue until all loans,
advances and indebtedness, if any, and interest there-
on incurred by the Agency as a result of the pro-
ject have been paid and only to the extent that the
tax increment recited above accrues.
Section 2-72. 4 . The Agency is directed to establish
and set-up the Fund and to develop and promulgate
rules, regulations and criteria whereby the Fund may
be promptly and effectively administered, including
the establishment and the maintenance of books and
records and adoption of procedures whereby the Agency
may, expeditiously and without undue delay, utilize
said funds for their allocated statutory purpose.
Section 2-72 . 5. The1Agency accepts full responsi-
bility for the receipt, custody, disbursement,
accountability, management and proper application
of all monies paid into the Fund. "
SECTION 2 : All ordinances or parts of ordinances in conflict
herewith be and the same are hereby repealed.
SECTION 3 : This Ordinance shall become effective upon its
passage in accordance with law.
PASSED and ADOPTED this 7th day of September , 1977 .
ayor
Attest:
7f/eiGt,e--ye- 4)2t-'17;4"
City Cl rk
1st Reading - August 17, 1977
2nd Reading - September 7, 1977
X X OFFICE OF THE CITY ATTORNEY - 1130 WASHINGTON AVENUE - MIAMI BEACH, FLORIDA 33139 r
ti:.
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79 -- 20 . •
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Amended
Amended
Agenda Item No. 2 (a)
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4-1-78 . . .
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.....- , -.
. . .. • • .•
- • . . . ORDINANCE NO. 78-20
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ORDINANCE DELEGATING AUTHORITY CONFERRED " , . •
•
.UPON DADE COUNTY TO ESTABLISH A REDEVELOPMENT
TRUST FUND UPON THE CITY OF MIAMI BEACH FOR .
THE ACQUISITION AND REDEVELOPMENT OF THE . . .....-
• . .,..... . SOUTH BEACH AREA WITHIN MIAMI BEACH SUBJECT
. TO THE IMPLEMENTATION OF THE PLAN WITH
. .
MODIFICATIONS THAT WAS PREVIOUSLY PRESENTED
.
• •
TO THE BOARD OF COUNTY COMMISSIONERS;
. PROVIDING FOR APPROPRIPTION OF FUNDS AND
.- .
. • CALCULATION OF INCRL;12NT FOR DEPOSIT INTO ..
FUND; SETTING FORTH OBLIGATION TO APPROP :ATE
. TO FUND AND DURATION OF OBLIGATION; PROVIDING
• .
_
.. . FOR REVIEW AND APPROVAL OF BOND INDENTURE,
. _
• _. . • OTHER FINANCING INSTRUMENTS OR ORDINANCES
• . .
OR RESOLUTIONS AUTHORIZING A FINANCING
.:
. • • INSTRUMENT; PROVIDING FOR REVIEW OF FINANCIAL
. • • RECORDS AND RIGHT OF AUDIT; PROVIDING A
• ,
• • FINDING OF PUBLIC PURPOSE; PROVIDING it. •
. . ' SEVERABLILITY; PROVIDING INCLUSION IN THE .4
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. CODE; AND PROVIDING AN EFFECTIVE DATE i, : •••
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. WHEREAS, the Legislature of Florida enacted the Community .. '
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• Redevelopment Act of 1969 during the legislative session held during •,
• . . • .
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. S
1969; and
, . • .
_ _ WHEREAS, all powers arising through the aforesaid enact- ft..
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ment were conferred by that enactment upon counties with home rule
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• - • . charters, which counties in turn arc authorized to delegate such
-,•41.-. • . 55
. powers to municipaliiies within their bounduries when such munici-
. -.1-
palities wish to undertake redeclopment projects within their
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. respective municipal boundaries; and
•
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"
WHERFAS, such authorization for counties to delegate
,.. .
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. such powers to municipalities is contained in Section 163.410,
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• -
•
$ . Florida Statutes, which states:
7: ,.; __ •
• ' '0
•
: "163.1110 Exercise of powers in counties
„
. ' . with home rule charters.--In counties which
. - have adopted home rule charters, the powers , .
• S . conferred by this part shall be exercised
.
exclusively by the governing body of such
. .
-....
. county. However, the governing body of any
, .
•
. such county which has adopted a home rule .
. . .
charter may, in its discretion, by resolution . .
,
delegate ti-,e exercise of the powers conferred
•.
- SO upon said county by this part within the . .
boundaries of a municipality to the governing . .
- . body or such a municipality. Such a delegation
_ . 9..
,
,
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to a municipality shall confer only such powers .
.t,
upon a mur,icipality as shall be specifically
, enumerated in the delegating resolution. Any ., 0...
power not specifically delegated shall be ..,
.. - . .. . reserved exclusively to the governing body of
_
•
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. the county."; and
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_.....-
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• Q A..7, y��' •. . ( .. � . i _ . ;...,e+.. �•r�.�.y,►..�. "'fes�1". �. _ r .a-
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1
78 20
Amended
Amended
• •• Agenda Item No. 2(a) •
Page No. 2
WHEREAS, the City of Miami Beach, acting through its own
community redevelopment agency indicated its wish to undertake a •
•, project which will involve the acquisition and redevelopment in •
accordance with a plan for redevelopment of that portion of
Miami Beach known as South Beach and extending from Sixth Street .
on the north to Government Cut on South and from the Atlantic
Ocean on the east to Biscayne Bay on the west; and
•
";IEREAS, the redevelopment trust fund will provide payment
for the construction, reconstruction or relocation of county •
facilities made necessr.ry by the redevelopment project; and •
•
WHEREAS, the City of Miami Beach on February 1, 1977, re- 12a
•
• .' quested the County to adopt a resolution pursuant to the provisic .s • �-Y:A
b„
" .
• of Section 163.410, Florida Statutes, delegating to the City of Miami• • • �';
Beach all powers then conferred by the statute upon Dade County, • !1.2
•
• but only with regard to that portion of Miami Beach described in . �
the preceding whereas clause so that the said municipality could • 3Vh
proceed_ to adopt its plan for redevelopment, and acquire and arrange . rrY
iYYlv•
•
for the redevelopment of the above described portion of the said•
City; and •
�
• : o
WHEREAS• , the Board of County Commissioners of Dade County a'x�
•
• passed on February 1, 1977, Resolution No. R-88-77, entitled: Hwy
"RESOLUTION DELEGATING ALL POWERS CON-
FERRED UPON DADE COUNTY UNDER THE
• COMMUNITY REDEVELOPMENT ACT OF 1969
• i UPON THE CITY OF MIAMI BEACH FOR THE
ACQUISITION AND REDEVELOPMENT OF THE _
SOUTH BEACH AREA WITHIN MIAMI BEACH
SUBJECT TO THE IMPLEMENTATION OF THE •
PLAN PRESENTED TO THE BOARD OF COUNTY
• COMMISSIONERS": and • •
WHEREAS, the delegation of authority was expressly made
• subject to the implementation of the redevelopment plan presented that •
date to the Board of County Commissioners, with any substantial•
�s
deviation being subject to the subsequent approval of the Board of
County Commissioners; and
• '
•
•
WHEREAS, a substantial modification of the plan was presented
•'B• • 78 20
Amended
Amended
o. j Agenda Item No. 2 (a)
Page No. 3
_ "_4• +. to the Board of County Commis ..oners on January 17, 1978, and approved
by the Board through Resolution NO. R-52-78; and m
, _ . .•. WHEREAS, the 1977 Florida Legislature enacted Chapter 77-391,
Laws of Florida, amending the Community Development Act of 1969, which
is codified as Part III of Chapter 1E3, Florida Statutes, also known '
as Sections 163.330 through 163.450, Florida Starntes; and
WHEREAS, the City of•Miami Beac:t approved Resolutions
•
• Nos. 77-15283, 77-15291 and 77-' :4i , adopted on March 2nd, March
30th and August 17th, 1977, respecti ✓ely, approvin5 .codifications • • '
' to the redevelopment plan of South Reach; and
r
• WHEREAS, Chapter 77-391, Laws of Florida, created Section
• • t
163.387, Florida Statutes, permitting the establishment of redevelop- ty
. . ment trust funds and the funding of the funds through the deposit • ilit
• " in the funds of the increment in the income, proceeds, revenues,
• l.,e
and funds of the County and •municipality derived from or held in bilb.i
•
connection with its undertaking and carrying out of community re- :' i
.. • ` ra `
development projects; and ; 'i
ail
WHEREAS, the additional redevelopment powers established by i,
Chapter 77-391, Laws of Florida, including the authority to establish 1 Wlii
and fund a redevelopment trust fund were not delegated to the City of
Miami Beach in Resolution No. R-88-77, passed on February 1st, 1977, %Y#
1l°1
• or in Resolution No. R-52-78, passed on January 17th, 1978; and Lrif
• WHEREAS, the establishment and funding of the redevelop- f--1
_itf:
ment trust fund by such tax increment can only be effectuated through
an ordinance of the Board of County Commissioners delegating the
authority to establish a redevelopment trust fund to the City of
••• Miami Beach; and
WHEREAS, the County is sympathetic to the project envisaged
and proposed by the City of Miami Beach which will ultimately involve ,
the expenditure of several hundreds of millions of dollars, which will
•
be financed in part through Revenue Bonds to be issued by the City of
Miami Beach and which is presently to be secured by such revenue sources -
as are provided by law including: the rents and revenues that individual
• o
projects and properties within the area of redevelopment will generate,
•
the sale of properties by the City to individual enterpreneurs for re-
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78 20
Amendedr�
• Agenda VItem No. 2 (a)
'• Page No. 4
development, the lease of a number of properties retained in owner-
ship by the City and revenues generated by increased assessed valuation
of property resulting from the completed project; and •
. WHEREAS, the County desires to increase the viability of
the project by delegating the authority to establish a redevelopment
trust fund and funding it by the annS-< 1 tax increment; and ' •
WHEREAS, this Board desires to accomplish the purpose out- 44, • '. • .
lined in the memorandum from the County Manager, a copy of which is �• " '
attached to this ordinance, for the reasons delineated therein; and
WHEREAS, the Board hereby finds that this delegation o: power
• • and ensuing appropriation of funds serves a public purpose,
c
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF COUNTY
•') COMMISSIONERS OF DADE COUNTY, FLORIDA: b
�. O •i
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Section 1. Incorporation of foregoing recitations. The • fl ! , %
foregoing recitations are hereby incorporated as a part of this tb°
!+I ordinance. . tfs o#
1 yD4 i
5,
} Yxi
•
Section 2 . Delegation of authority to establish a re- • -liea
torr
development trust fund to the City of Miami Beach. -- The authority
i.
•
to create a redevelopment trust fund ("the Fund") as defined in . y� !j
t:I
Section 11 of Chapter 77-391, Laws of Florida (Section 163.387, tax t�•{{���•��i
Florida Statutes (1977) 1 is hereby delegated to the City of Miami
•
Beach pursuant to the provisions of Section 163.410, Florida Statutes, • •, „
• solely with respect to the area known as South Beach, which is
• bounded by Sixth Street on the north, Government Cut on the south,
the Atlantic Ocean on the east and Biscayne Bay on the west ("the ,
• .
Community Redevelopment Project Area") . This delegation is made sub-
,
ject to the provisions of Resolution n-88-77, passed on February 1st, .
1977, and Resolution No. R-52-78, passed on January 17th, 1978, and
to the implementation of the redevelopment plan presented to the
Board at those times. This delegation is made so that the said .
City may proceed with the adoption of a plan for redevelopment,
and the acquisition of property and redevelopment of the aforesaid •
area through its municipally created community redevelopment agency.
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Amended .'
Amended
Agenda Item No. 2 la) .v• •
Page No. 5
Section 3. Appropriation of funds; calculation of in- •
' jI crement. -- The County shall annually pay into the Fund, a sum '
•
•
'11,`,— equal to the increment in the income, proceeds, revenues and funds • •
• , of the County derived from, or held in connection with the community
redevelopment project area, and the City's undertaking and carrying -
out of the community redevelopment. project plan. The increment shall "
t'V • be determined annually and shall be that amount equ. I to the difference �.
. i 1 ' between: +
•
(a) That amount of ad valorem taxes levied each
• year by the County on taxable real property contained •
•
within the geographic boundaries of the community "' ii `
- ' redevelopment project area; and !!
(h) That amount of ad valorem taxes which would s �sJ
I' have been produced by the rate upon which the tax is 1
'' 1I t- •'-'-'....: '1;g
levied each year by or for the County upon the total of ii-
1t •
the assessed value of the taxable real property in the LI
' OsE
community redevelopment project area, as shown upon irvii
r
gr.=
the assessment rolls used in connection with the taxation 1.
��. of such property by the County, last equalized prior to ru
�� �
the effective date of the City's resolutions Nos. t; � ,
" xY
•• 77-15283, 77-15291 and 77-15413, adopted on March 2nd, ' r .-�l{'Q
• is rutty
. Ii March 30th and August 17th, 1977, respectively, ap-
• ! r proving the community redevelopment plan with modifi-
. � i '
• , cations.
. • i .
•
i In calculating the increment, the amount of the ad valorem taxes levied
•`" based on the county-wide debt service on County bonds shall be totally
- •
excluded from the vaitulation. All increment in this amount shall -•a
continue to be used for its voter approved purpose and shall not be ` .
appropriated' in any port to the Fund. •
.:Al!
•
e !
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.. 78 20
Amended
. • Amended
Agenda Item No. 2(a) ,,
Page No. 6
•
Section 4. Obligation to appropriate; duration of
• obligation; limitations on obligation, bond sales and refundings;
accounting requirements for County increment. -- The County shall •�
annually appropriate to the Fund the tax increment due the Fund at .---'. '
the beginning of the County's fiscal year. However, the Fund shall
•
receive the tax increment only as, if and when such taxes are
collected by the County. The County's obligation to appropriate to
the Fund shall be rescindable at the discretion of the County if a
period of six years passes from the date of the initial bonding
or indebtedness described below without a new sale of bonds or
• r-,
other new commitment of County tax increment dollars to the payment ` ' '
of debt service for capital improvement or land acquisition bonds, �'
s
1^14;
except that the rights of existing bondholders shall be protected. -- 4.
The County's obligation to annually appropriate to the Fund shall OP ,'
•
riii k
• commence immediately upon the effective date of this ordinance ; ii'
t° i
and continue until all loans, advances and indebtedness incurred v
as a result of the community redevelopment project have been paid • id s+
ri t-1
or for two years' from the effective date of this ordinance, if r pi tt�Q
there has not been at the end of that two year period, a pledge
•
• of the tax increment funding granted by this ordinance through ; !
.. x
• the issuance, sale and delivery of an instrument of indebtedness 6kYq �
°'•
such as bonds or tax anticipation notes described in Section 163.385, rtr
• Florida Statutes (1977) . In no year shall the County's obligation
� •
to the Fund exceed the amount of that year's tax increment as • •
•fi determined in Section 2 of this ordinance. Beginning with the
twentieth year after the date of sale of the initial bonding or
n:
indebtedness and in every year thereafter, the County's annual
•
appropriation to the Fund shall not exceed the amount which is
deposited in the nineteenth year. Beginning with the twentieth
•
-" year after the date of sale of the initial bonding or indebtedness • B . '
no new sale of bonds or indebtedness supported by the County's "
0
•Y
78 - 20 1
Agenda Item No. 2 (a) �~ "
• Page No. 7 •
tax increment may occur nor may existing indebtedness so supported •• }
- '" be refunded without approval of the Board of County Commissioners.
The County's increment contributions are to be accounted for as
4 a separate revenue within the Fund but may be combined with other
• • revenuas for theose ur of paying p p ging debt service. „
Section 5. Review and approval of master bond indenture
•
or other financing instrument or ordinance or resolution authorizing
financi,v, instruments; review of subsequent financing instruments
to assure compliance with master indenture. -- The County Commirsic.n -
•
shall review and approve the initial master bond indenture and t`' ,
ordinance or resolution authorizing financing instruments and
instruments of indebtedness such as bonds or tax anticipation wa
• "lb, {
notes as described in Section 163.385, Florida Statutes (1977) ,
•
as to its provisions relating to refunding, prepayment and ri
o
redim tion, otherprovisions relatingto the ari
p governance of § gw 6¢
financing instruments and instruments of indebtedness, the •
• n
application of funds necessary to pay costs of necessary residential YY/>rQ
35W
•
property acquisition, moving expenses and relocation benefits
as provided under the Redevelopment Plan. Subsequent financing MY i
instruments or instruments of indebtedness prepared pursuant •4:7;:t
s8crto,
to the master indenture shall be reviewed by the County Manager •
and shall be approved unless he determines that the instruments •
• • do not conform with the terms of the approved initial master in- r •
denture and ordinance or resolution authorizing financing in- _
•
struments. _. .
Section 6. Relocation assistance trust fund. -- Out
of the proceeds of each bond sale, there shall be withdrawn, -
placed in trust, and separately accounted for, such sums as are
prescribed in the Redevelopment Plan to pay the costs of moving •
expenses and relocation benefits.
•
•
•
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78 20
Amended . _
Ame rid c d
Agendn Item No. 2 (a)
Page No. 8
•
Section 7. Review of financial records; right of audit.
-- The financial records for the Fund shall be available for County •
inspection and the County reserves the right of audit.
• Section 8. Public Purpose. -- This ordinance being for .
•
a public purpose and for the welfare of the citizens of Dade County,
• Florida, shall be liberally construed to effectuate the purposes
Y thereof.
Section 9 . If any section, subsection, sentence, clause '
or provision of this ordinance is held invalid, the remainder of
•
this ordinance shall not be affected by such invalidity. •
•
Section 10. It is the intention of the Board of County •
;' i
Commissioners, and it is hereby ordained that the provisions of this !tea
alibi I -
ordinance shall become and be made a part of the Code of Metropolitan Elii
�� a -7 .
Dade County, Florida. The sections of this ordinance may be ro
renumbered or relettered to accomplish such intention, and the word Fb =
eliy JL4
"ordinance" may be changed to "section", "article", or other appro- s2
pry
priate word. i3i3IQ
• Section 11. This ordinance shall become effective ten b}9l�•
4
o"
(10) days after the date of its enactment. 0
d•xY
•
PASSED AND ADOPTED: April 4, 1978 •
' ' •
•
Approved by County Attorney
�• as to form and legal sufficiency.
SLS . ti . :. •
Prepared by: Cfi
__
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t . �}� t{5 b].JF-'�^�l 'f. 4 - ., '.'qy�-. - '!? •' �Y - .fes �.. _ _
•
I ,.•:,arr t;I: .+ Amended
: , . f;up;11: 'at It ',,cc(1:1 1 tl.T.1 .'.l I
• iiunc)t'aI,I c Mayor c •urd ' etab+.•'•: "'1 April i1, 1 978 -
Board of County Commissioners
ioners
• .:u1. 1 . , '1'a). IIll'I's mc'.lt. O1'd.i:,.u:c•c
hiirnl i it,'...Ch b
1 " •' hi. iI. .'•I.ieHIP iIII
• C°111A.1' i a;r.�`,,1• .
• A •
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Urain trace No 78-
20
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• hlit'::'1 111t to tie Boat' 1': 'a 11'i'c:t.ion ( t' ,•'11•c11 i'1 , 1.97,., we have ai7,airl
rev.i ew' d the propo::(•.1 pr,!It.•:n::' .r:,: , i•, county and City ap .:'cvcd -
1edrrveloI)mcnt i'1ar1 1)'artIc'ulrr :1,: it. relate:; to relocation. it
is rcccr;l: :n,l.•4 1,1,111. :ht' it .h.1 ,.dei thy l:ul; a:u'e .;('. forth tel ,.
,i
the auk to ont. p1'( i•(.01.,'4,1 'au-
n:. i. eli i 1 :,:u ,` .l adopt. thvi:: (Lei .. nd Y.. •p• .
menta c:nd the ( 1(11!,::,lcc'.
P.'lt1,Y:11 S
no Be: rd r'('cI t•Cl1 ''upt ii..a I:,! !'.:':I. l an :;( \"':":1 poi and (':.- `
' pressed an int, c :'i ;n :.t ,.('i i•i C'' requirement t1:at relocation 1•,^!.- el �/f}•
e:IL. Be ;;ual'.,U. ',',! ...•. .sur, t.h,' I.:1X Iner nient C.1•ci i:.a:uee. +
• i,We again reviccrd irolc:cat.term plan with Ai'enr'; .••t::ff and l.re. .n: E f ;j
the following i.cncua;'. : in 1.c .:14:i::r' to tic hoard's 1•CgUC::t. b _
in the 11Cw Section 5 t're:.yn'.t"1 1I, .he . ;rc11 :'I .•....'iment,A, en th' E� 'i
sixth line up i'r•... t.). :.1 c:t' the ".-ct:•inn, Coll. •..... ' the co:'.:'... ... ,,..-r' :01
:
the word "redemption," .t.. . i't. ihe Ni l ow I rii-
42 +11
"the appl ! ,, . or i'.:e ,.
r,. - . . t..,. t -y ..ezIr!!.q co t o!' . . . i, .1aeon ''1 1. ,,;-,
Plan," Cil
PI)l t,,w,n!lSection t, .. . •• •. , .'1 . 'i•.'i t. ,,I I'.v1'clt :',I , is:. .. F ; O
this Cc(•1.intl ( its foi 1..... : • - :!
81 Nol
".`.Sgr ect:ion f. . .."Ic'it:: i:'.11 .....:i: t. :tlr,' t:t'(I: , C nd.-- ` �
' Out or 1.1,. 1:rc,c :1:. of ca.•h 1.ul,d ;;;.:1_,,,. t: :'i'
_ •:1:x11 '. ..:t I I
be wiLh,t1•'':a11, ;•l:'cc:! :n t:•)mat. , and :'eh,::r ' I-c'].y nc- laiit2'
,_ ........ count(- 1 .,,a., :Ar!: .•..urm._, as a: . •;1'c.;cri1 .I in the -
Fc•devclop!:. iii. i'.:,!, I. • :r; the costs of' m.,v.irlr
.
expenses er: an,.; 1 . 1.,c,.'•1:•n t,..:to 'i Ln. .
Addition of this lar: ivage will require that the nlar.tel' in:icnt... .
which the board will revl,•l•: and aprr;,ve, must have a reran 1 ::',•::..,
. that each bond :.plc Include adequate fund:. to cove:' acquie: ior.,
moving expense:, and relocation hcnofits. In adait.ton to that
rc'quirc.ment, the Agency, from Inuividua' bon:! Iaau(•::, must with-
draw and place In tru::t the amount rtquired to meet those expen: -: •
for the qualified residents impacted by work undertaken through tLa' .
.. -- bond issue. 5' •
We have also cxamine l w"ain the question of certain holdback rig; " ' —.
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• by the County with respect to the increment. It i:: still our con-
• elusion that holdhac;:s for increases in co:t. o: living (er• ncrvIcc
deliver;,') and for potential service transfers will have the c-enCrnl.
- effect of discouraging prospective developers and of impairing bend ,.. •
marketability. The Agency will present a detailed statement to tnat
' effect with the concurrence of their financial advisor.
- In addition, as we stated at the pubic hearing, the relative fircaol `
• impact of ouch holdbacks in not significant.
•
.0,K 1 Pci21 1
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78 20.
• .t, TI .
,., lil,n(r1•,,1'1l' Piny, •'r..i 4m1,e•.': •41
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[:1.1,1 , .:e ti oil-1'1w 11 :! ♦ ,iii, 1 ,
• cit•y c.l' 1.1in:
l 'i „• .,c!: ,ictal l• -'t.•tt , t••1 t 1,, 1' i •
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;1:n• •Iltr' t1 . .tt I tilt. ot•i1.1,••�•Ic1 1•t , •
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• . • to t.t1' 1:ocif , , , • ,1. . ., , . , ' 1
• . with , •ty 'u • ,y 7
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slrl, t•' . 11-L•ii I 1.11 •i •,,•, t•e.•ta .n, t-
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•
to t•1't.1 re 1, hi' 1 • ! I L
• no new bond sales '
•
may ( ;',•ut' 1:••yonci '.:,:,'. 't.' :l... 11'. Con.,.:!. :,Ion
appro ct i
i .
'" !{rya l re the County': !n::rl'r1t 1!, ; .,: ;t.. It, tele
e Pun(I tet be .'eee'lunt('Cl ;'1't• :..Atter•., 1:, .
I) lievino the bond !t d(•n+.. ti's :Ippr,,val 1anl,u:1( c' :;o as
. t to require Cu:tt^1., . :''n 'I'I'l•,'',:iI t.'1' the i;a.:ter lndc•n-
ture :incl ordinance whi.eli wottid 1',.,v1•rn all cult:;equent.
i.s::ue::.
• The Count;; 1':1t:IC1'r would then 1•ovlow all subsequent
issues to 1n:lure that each conl'orn::: to the plaster
indentures.
•
These amendments are presented in 1 C :sponse to concern:: rai:.c(1 by
Comnlls::ionero at the t'lrr..t rcl(1Snt; of the Orlin:,'le(' and in suhse-
qu(:nt discussion hetween stair and individual Cerumi:♦:..toner::. With
. • , a^�r 7 111214 .
,
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78 . 20 . . •
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Honorable Mayor and D:ornbera•
Board of County Commissioners -2-
V
• ,Q• •
4
these provisions included, o-:c hclicvc that the Agency will have
every opportunity to proceed with the redevelopment project while
the County retains the ability to exevelse appropriate discretion
on matters involving the continued viability of the project and •
its lone;-term fiscal effecter.
"w- In addition to the amendments to the ordinance, I have also ,
attached a general report on the service impact of the project.
The report is self-explanatory and generally concludes that the
impact will be small.
• Attachments
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7820 ,.
" [ROPOSl'.D AMENDMENTS •
AMENDMENT I: COIINI l' FACILITIES . •
• Amendment I adds the following whereas clause on page 4 after the first complete s -
"WHEREAS"clause on that page. - D•
_._.____
"WHEREAS, the redevelopment trust fund will provide payment for the
" construction, reconstruction or relocation of county facilities,rude necessary • •
by the redevelopmen project; and"
- - AMENDMENT 2: NEW SECTION 1
• • ' • Amendment 2 adds a new Section 1 as follows and renumbers subsequent sections
• accordingly.
Sec tion I. lncorpor•,tion of foregoing recitations. The foregoing recitations V
arc hereby incorporated t,s a part of this ordinance.
AMENDMENT 3: DURATION OF OBLIGATION. LIMITATIONS} SEPER ATE. t
e --- A O VN'T11C;•I )I INiC-RI MXiisfi— '
Amcndcrnnt 3 has two part ., ---- a4,
s
. pirl
A. ROILY tib
a
Scctioa 3 (rear rurherod to become Scstiun 4 by Amendment 2) is substantially . - °,i lb'i
•
. revised as follows. N.•w language is underlined. i� (/
Section 4. Obligi.tice to appropriate; duration of ob!it,atin limitations - • •- VII / V a
on ohli ation. bond sales an'I refundrnt•s: accounting• re. uirement ' i:r.inty mere- ;,pi
fi 1�. - iso +-r l•
• meat.- - 1 he County shall ,:nneally aptc;.rete to the Fund the tax i• ,•.remcnt i
due the Fund at the beginning of the Conmty's fisc;I year. However, the Fund .h3Y
shall receive the tax incr'meat only as. if wad whe,surh taxes are collected by ,. • fr
tso- xthe Count The County's e',Iigatinn to aiv:ro•xiatc to the Fund shall be rescindable Y
ll
at the discretion of the Cor my rt tLiwriod of six rars passes from till' date of
the initial bonding or lndc•htrdeess c •.e•ri'r.•d bi•low without a mica'Sal..` of bonds Q
or other new commitment of Count tax increment dollars to thy pa;mer_ t� t of Y0.9
debt service for canit„Iiicti.,otcmenc or Land aciitition !2ondS+ e::c,.}7t.7rat the • :V10
rights of existingh.. dholc!c,s s!t ,,ll 1)7,2_0 enter h: irty's obligation tonay `4•
annually appropriate to the Fund shall co,.rner•ce inure',lately upon toe effective ou
daou
te of this ordinance and r.ontMue until all loans tdvar•ccs tend indef tedness t
• a
-
'
incurred as a result of the community redevelopment project have be�n paid or • r4.Yt ' +
• for two years from the effective date of this ordinance, if there has hot been t'tay �
Vis• at the end of that two year period, a pledge of the tax increment funding granted • •
by this ordinance through the issuance, sale and delivery of an instrument of in- . • .. . .
debtedness such as bonds or tax anticipation notes described in Section 163.385,
Florida Statutes (1977). In no year shall the County's obligation to the- Fund exceed •
s the amount of that year's tax increment as determined in Section 2 of this ordinance.
'? Beginning with the twentieth year after the date of ...ale of the initial bonding .�
• or indebtedness and in every year thereat torr tit:: County's annual appropriation
a to the Fund shall not exceed tire amount which is d posited in the ni•tc•teenth year.
Beginning with the twentieth year of ter the date of sale of the initial bonding • --
or indebtedness no new sale of bonds or indebtedness supported by the County's
•
tax increment may occur nor may existing indebtedness so supported be refunded -
without approval of the hoard of County Commissioners. The County's increment
- • contributions are to be accounted for as a seperatc revenue within the Fund but
may be combined with other revenues for the purpose of paying debt service.
i , AMENDMENT 4: REVIEW AND APPROVAL OF MASTER BOND INDENTURE
Amendment four strikes the present section four and replaces it with the following • ,
' New Section 5: •
��72.K 7 Pc1216
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• "Section 5. Rev'ew and approval of master bond indenture or other
financing; instrument or ordinance or resolution authorizing financing instruments;
r• review of subsequent financing instruments to assure compliance with rnastcr
indenture. - - The County Commission shall review and approve the initial master
•
bond indenture and ordinance or resolution authorizing; financing instruments and
instruments of indebtedness such as bonds or tax anticipation notes as described °
° in Section 163.385, Florida Statutes (1977), as to its provisions relating to refunding, •
•
prepayment and redemption, and other provisions relating to the governance of
o , ' financing instruments and instruments of indebtedness. Subsequent financing !4
instruments or instruments of indebetedness prepared pursuant to the master •
• • indenture shall be re.•iewcd by the County Manager and shall be approved unless m
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•
he determines that the instruments do not conform with the terms of the approved
• initial master indenture and ordinance or resolution authorizing financing instruments."
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MI MCMANDLIM
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''.: : •••••• :It t:, i •,:t".!t, 1:.•• (, ,
Honorable Mayor and F:•mbers LA le 1‘4•1?ill! 21., 1 97 S • •
. ' .., i.......r...or- ...
Boar or curo,iy Commlontv:;
/it/I •,-.• X: „9
• , I i I t . .. e .,'
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st,t1.1 , ' Otie:Itiollt; liaised Berard i M.;
Proposed Tax lncremeht .
v, • .• • .
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/I{.i.....1A1,9'11,..lin Financin- for the :Iout.b • •• -
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County ikmarer Beach Helcvelopment. .• •
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• — On March 7 when deferral of the subject ordinance was requeated,
• ,.
reprrsentaLives of several ore:aaisatins appeared to present
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their views and questlons on the rut it.
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A good deal or the mf.terlal pi :.,sted relates to ti:.,. redevelop-
'.
ment plan already ail vovel Iy '..ne ":emmissien and t , effcet of
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the project on the Clty or an "Iene.h. -. '
_ ... .
: ' - :. Our repon...e.:. will be confin-d to the issue or County Tax lncre-
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meet cont.pltutions s:nce that 1., the subject of the ordinan..o to S
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be dealt with on Mar. h 2l. . ' • •
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Other questions regaraln I_U plan and the relationAlip betweent.I.e
i . e s 0"•e Jr ••
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• City and ta
ho Agency have ,,td mple oprr d
potunity fox' n
s6los
. • .
• in many hearings prier Lu thi: late. In fact., the Jele7,ation . ...; 1P.? • i %
i . . in • -
of redevelopmentN.nutL-,elt •tF
a.,e in etrsary of 1977 and sub:le-
.
quent appr3val of ar.• h, ' ;:1.. !, ..b.t., rt ll.v.:•••Icpment plan both
• provided opp,.rtuniti. :: r. tha :11r.:1„ to the hoard 'Jr County .:-
"Iti.j d '
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Commiasioners. Eli: -i
. I
. . • , • Following at' - r e our( . , , a. • .- t, H.,•..... : t... :.. 7.:,-;12; ,:.:• :•:,:r..- ,l, 7 . . -14 -.
which are vrtinent 1.0 ,.!... : rt _the. ' I.- b,.-Ird oh Y:,rd h 2: . . a .
• 1 n Ill
1-. Dade County.Asseel at: h : S':.::. • ry.r. ;., i •Al:e:a,-., •
::, .. '1',.4 1 •
Quvst I on .I. - : -;;•-! c f' ; ! .::.t..lit. ob 1 ration.
•
H.,1.11-1,Pfllc: - 1 t. is the 1st( at .,!' the ;-ror,...:sc 1 or:lir...sec
that. the 1h-re:teht wl.11 b.? corii :::ued lca '
%
enough to rev.y Iraottei -:... ::. 1:rred IN ' ' •
S , t1s1
the :wency. Cha.' pr.I. ,.1 amenament will
. . %I. 1;1:1' -
. . provide that :Stet, 2:', vi ars the Increment
.•
ttl.
Will be fro;:.n leavlh,- the agenzy little -T •
. , litnit ' l '
. ,- c.ption to tsat Cf , ..‘tirettent of existing ' ligilb4' : .
:
lonch.. No :0.w I.suo.. nr ref,lnding of
v -
riot 1.:sue.:. r_ay oc-up beyond 1.:1111.. point
without Commi,-.slen approval. •• .
- • :. : .
. ...
. • In addition, the same amendment provides . .
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• the County Commission an automatic "sun ,set . . •
• ... .k•
review" aftor r) year;' with the provision . • . .
. ... ... . . _,
- ' I, that existing bondholders be protected.
•
__.-. •
Question 2 - Assurance that cost of services will nit _- . •
increase aatroncmically in the area.
• .
, Response - It is our opinion that the development
, - - -
.. • ---. :: .
itself will not increase service demands . .
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• .. . •.• significantly in those service areas
— , -
where Dade County has responsibility. A
report on service impact will be included • '
•
S „- in the agenda kit together with amendments •
•
to the ordinance. . ' •
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Question 3 - Increasing deficits due to inflation. -
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• ' . - Resunse - We obviously cannot control inflation.
However, it is clear that the tax roll
,..,. . .
from the area in question shows no sign .
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7 Pc1.21.9
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d Honorable Mayor and i�ember: 1 J 2l1 ,
s. Board of County Commnsioners -2-
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of kcep.inr^ up with inflation on .its own.
"' In fact, the current taxable roll in the
»• area can be expected to decrease if " •
current conittionn continue. Any contention
that the South Beach area will produce f;rowing
- *mounts of ad valorem revenue without redevel-
opment in :imply not sound. The economics of
the area have in fact "frozen" tax revenues
r.lready and that is one of the reasons for •
the use of Lax increment financing. •
•
Qaestion $ - Attorneys' fees in condemnation procedures. .
Response - 4:e are not able to enact 1eg.17' ltion locally
•. . to control Attorneys' fees. We have been •
11‘ authorized by the Cointien ion to n.ok similar
• state lcr;inlat.ion for :several y•oar•n and have
• teen unsucetenful.
Questi_en 5 - Control over "sweetheart deals" regardintr
leases.
• Response - 'I h i n i nn uo addr•t •ec•d in the .f erida $l
Statute. . In addition, the a- ncy'a i
nuccene will depend on utiiizin .. all tvw
revenue sources fully Inctudlr;r maxi- a•
:., tt [zinc bane revenue while at the same anti
• � ••. tIa'e provIdinr� sound opportunit:en for '
EV
developer„ i
Question 6 - The proposed constitution oto._., .ave tan- t 1
� ' fuare which would clarify the . ' ;stun of !
Lax increnera bonds an revenue t ond.:. rt
..t
Responr.c• - i.h St•;tut- which create: tax i:;croment 3r1
' • fines t.
- .. n;r ai ::dv view inrrcr,c : fond:; Yijl
in that li,,t,'.. Any disputes on this innue ;
willbe put to rent in the afeney's; first 8+
bond vnlidatton. iia
IT.'.'
• The applicability o: Miami Beach's $250,000 a: 1
;
bond referendum requirement in not an issue ix'
•• that the County Commi.:nlon need.: to address. ,�r
• Tire bond validation procedure w'll provide � -
• a forum for that question.
�1r Question 7 - Analysis of income from public :and versus
t• income from land yet to he acqu'red.
• '�,' Response - it in difficult to distinguish thin queution •
•
o
from the earlier one regar•dinr improper lease
arrangements. However, we arc :advised by the
Redevelopment Ardency that separate income
analyses have been done and will- be submitted
for the Commission's review. The more general
• question which we need to be concerned with is '
not whether the agency'_, income is from land _
currently owned versus land to be acquired.
Rather our concern in this area should be to
insure that the agency has sufficient freedom
to maximize its revenues to insure the earliest
possible completion of the project while at the 0 •
• same time providing adequate safeguards from
the County's perspective. I believe that the
• ''' ordrnance as we propose to amend it does both.
•
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7 oc171 it
-1414•?;4, - •
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.�$ 20 • .
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Honorable Mayor and 1•:cmber::
• Board of County Commissioners —3 •
—
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South Beach Resident:. Association 4111
We have reviewed the paper aubmitteu by the A.,cociation and
find that it speaks entirely to the Redevelop•❑ent i'lan which
. - • the Commission has already approved. 1 under•,tand that the
Agency is prc:)arinr : rcapon:,e to the question. rai•ed by •
the Asrociatton :.o that the Comair:ion may review it prior to
the rlhlte hearing ot. the Lax increment ordinance. 5 •
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/—. .):
M Ei M O It A N r7 U t.f
"i. ,. n • C t .,
, ,ai'4,]CpK`r i1: to ��.; i::fl .Et^' t1�) ,
•
To Honorable Mayor and Pic tubers • ani E Vol P1, 1978 -
- ' o Boa rid'ior Courtt.y A Corsi is sione r•s
1/ cam,,/ ,fi •.ur,,r 0-1
/ i C.f r�_,. .�.__..._._�.._.. Service impact, Report. •
:, , tit,, RI St•fcr hcim • po
• Cfounty t-1anaeer•
. - — -- -----. --------`--------_---------...-�_.--_—_— --- ----- - . .'
•
•This report is iit response to a reque:'t made by Commissioner
' Redford at the January 17, 1978 meeting of the Board of County ,
- • Commissioners. At thr:t Lime t-r. Redford inqu.red as to the impact
the proposed redevelopment plan for the South Shore area would . •
have o.t Dade County, especially as it related to increased services. - ••
•After analyzing the proposed plan, and meeting with the Rede-
•
vclopment Agency stat:'; we believe that any increa,.) in service
levels to the South Shore area would be minimal. All affected ' '
County Departments were contacted to insure that any and all
services had been accounted for and that there would not be major -
increases 'in expenditure:; and service levels. -
The only implication for increased service we foresee is
maintenance of arterial roadways, traffic signals, and street- iiia i'•
• lighting of same. however, it should be noted that the hardware
and total cost of any new construction of these roads and other
capital construction will be borne by the Redevelopment Agency,
and in essence, should not require a tiigh level of maintenance Y..s .�
in the near future. We can accomplish the above conditions with b ;b'� ° •
' the provision included in the proposed Ordinance, which stipulates elft i le%
- that capital improvements required by the project arc to he funded, ✓ :y 'j_
by the Redevelopment Agency. .s
a
IL should also be not d, that in approximately 20 years,
• when level debt servi..:c is established, the County would recapture trbic-1 -1
• over and above anymonies expended for increased services by funds { t
received from taxes at. that. tire. The Property Appraiser indicates , w
• that the total assessed value of the SoUth Shore area at the Ya rd
present time is approximately $79 million. After redevelopment
the assessed value is estimated by the Agency to be $439 million. !.1.1t
•
One of the major reasons that we did not feel that any in- lil
crease in servicewouldbe necessary is the fact that the total
population of the are;t is not expected to increase substantially. 8lt0I
Though it is anticipated that the number of tourists will increase, " !iliP
. this should not have a direct impact on services provided by Dade
County, with the exception of public transportation. The level -
_of transit service would be dictated by the needs of the area .
but because this area has a heavy reliance on public transportation
it would probably be ;1 cost effective service where the additional
•;0 revenues would offset costs of increased services.
•
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7 PG1221
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•�y • .ter, +4 ��'•.,
78 20
• MEMORANDUM Amended
• o• S: Agenda itnt^ No. 2 .:
dive( • r1e Mayor and on, "fief•:; Jnrtnnry
+ . I'• t•os, .1 t+r tri antic.' tie!) in
• • ,�.�,.� Hedeveiopnent Trust. Pund
m M it e'he i m :o.
unty Manager
•
I,'('OMMP:NPr ;nNe
:.
The ;,ach.'d ordinnnee pertains, to t;h' annual transfer of Dade
Count ad valorem tax increment to the Miami teach 1 •
Redevelomcr;t Agency. This ordinance is presented for review • _
• and consideration; at ' he request of the City of Miar,, Reach
and the Redevelopment Agency. it in recommended that. the Board
adept the attached ore:inance which include:; certain imitations
, and necount;rbilily as.•urances.
1Ar+::iRo1IND
t'n i"ebruar;' I , 1n77, ' he Board adopted Resolution Number R-88-77 •
which del+ ,-:►ted to the City of Miami Reath certain r•:development ' C
powers whi rh by :;tate law art' r'e,;"r'vt'd to Metropolitan Dade County •.
�• un1e „ era' It'ically ;I legated to a munictpalltr. /:
va
ire the !rt• rveninf mei thr, eiut"tn,- the :077 ne.ntton c the :'lied 1a 04
1.t', iolat.Ut'^, a how rir '•nn -eieVt'lerme•ht rower, '.hat o'' tax Incr'e- El / N
^'ert finan '1nl,, :•Jan a�,thnrl^e;1 by tlr' ennc_trren-. of "'tinter 77-S91, � G
laws of ,'1 "rida. =1.4
�J
!'bvieus1y given that • pr . • vert:;, the 'i•)ler;at'on of powerst>' t
and authority c_ontait'. . .'rruar': reaol;:`Ion did not inclad.• §Bg'" i
r nommitment to trnn.' " , ,2eocir of Dade 'ounty ad valore- • >s �
tax increment revenue .. cy'r redevelpment trust fund. > `
Thin ordinance will c rovenues to t:10 Ar- :,cy': trot
fur d •frr ure pur:'uant t ;' ->�1, l.awr „ ,:lo"I.11.
• '+via?V I EW f)' CONf7i'I'Tc
+ A: Vc,u may know, •'ipnl Cat. `.i: tax inor'ea '!'.t, c' a't•r't loon not . ._ At
reduce the taxers Haid r:y pr 'r wnern witht • II.'trict. ;ar t'-1
• • w1 i 1 it reduce, from he cur-, . • level , '.axes . • iv a,l by the C)unty. ;k
tg-
The increment accrues when tax r 'll value Incr- .-
.a '-: int or millaf' • vii 1114
i nereasnn renerat.e ad valorem revenuer In e'XCi';a or hast' generated
prinr to the start of a tax tncre'n:ent /urban re 1e'voie'+ment project .
Thus, all of the taxi.• are paid and only that porti ''r descrited a:; _ '
' the tax Increment• is set aside and transferred to t.h ' redevelopment
• fund.
An Important general t:;:•ttmrlion in thl:; concept Is ' tat the dust o,,
of the cit;: den l t•,nntc' I aa the :'r,level ot+:::ent at'•'a went,: not ''x; ';':enet•
_••.IJ .
tax role r'r'owth (and :.hu:) have an Increment.) without the development
encouraged by the nv:e1iohIlity of tax Increment financing and the
urban redevelopment e 'fort Itself. In the absence of tax Increment
rerievclopnent, the tae role would continue to decline or perhaps re-
. • main aomewhat stable Ind there would he no general 'fain in ad valorem
revenue from the area.
POND[T ioN Oh' PROPOnF) ORDi NANO!'.•
_.
• With that overview of the concept the following summary of provisions
in the ordinance .Is presented. These "condition," represent what we
•
consider to be adequate ns::urnnc^ that the transfer +f funds from
County-levied ad valorem taxes is properly limited and provides ac-
e•ountabilit•y. •
•
•
•
"7 ,dein •
•
is} b. Y 4 Y.• M= nti.,{ v S •" • ':
SI/"
•
78 --- 20
-2- �.
•
• • - Gcrer•el Obligatic•n Mi)alages '
The ordinance provides that calculations to determine - • •
annual increments shall notincl;:de voter approved 4
millages. The urban redevelnnmr'r,t district will
• continue tc' pro,tuce i t ,; propot•t i c•nate „hare of ad
valorem revenue required for general obl:igatioh debt
service.
— Boundaries Limitation on
• The increment will accrue only from property within•
the boundaries rf the redevelopment area as it is now •
• constituted. My future expansinrof the area will
not carry with it a commi' ;unt cf incremental ,'ounty
Rd vllorem revenue without express authorization by
.` ordinance. -
- Approval of. Flom:_ Indenture.; or Ordinance.;
The ordinance r. quire:• approval by the County :ommission •
of the Agency's bond indentures or city bond ordinances.
This provi:ton '~ a mechanism by which the County may have •
• some involvemen• in prudent; financial planning for the use is
of County ad va orem revenue. Through this meohanism the
County may have a voice in such issues a.; the return of the ih� •
• tax increment ti the County general fund when the redevelop- a
ment plan Is cor,plete and debt service .1s :net, prepayment -.; E.a
• of d, bt :n1 refinancing of debt. • s
Peu•t u,^ i ro.'cct • v;I3,
hould the Rede relorment Agency not begin the :'roJect rso
thrc.ugh the isso,ance of financial instruments :'or the F t;E
• Initial ph'•ae within two years, the County retains the 13;Ip 61
right. to WIth'r w the commitment of tax incr.,- •nt proceeds. r qa8
- l tancfal He c,r an.: Aw:i i ary
• , :in, ,1•uunt.v recto •ve.c t h,- :•1 •i:, t o annually audit. the record.; YPlIrCa
34�8
0
of the Redevele. merit A,�ene:i. �.Y O
aV i
n ad i l t.l-n to the ab eve crud I t i ,r..;, County approval will be required --�- •-`•
.3
for any modification: :n the re,i•O,,:elorment plan so teat any sutstan- ` ny�,r
tial broadening ,>1' .;c ,pe will r'� laIca County nor-row-I, . All other . -� F
provisions of the h'ot, •unry 1 , 1,177 resolution and tl' , resolution Yy i
• approving modiflcatin ,n t., the plan on today'" ngena>, not in conflict
• with this ordinance w• Ii ,t1,:o remain effective.
1 • .
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