434-2002 RDA Reso
RESOLUTION NO. 434-2002
A RESOLUTION OF THE MIAMI BEACH REDEVELOPMENT
AGENCY, APPROPRIATING $3,279,392 IN CITY CENTER
TRUST FUND REVENUES AND $9,820,544 IN SOUTH
POINTE TRUST FUND REVENUES TOWARDS WATER,
SEWER, STORM WATER, STREETSCAPE AND RELATED
INFRASTRUCTURE IMPROVEMENTS IN THE CITY
CENTER AND SOUTH POINTE REDEVELOPMENT AREAS,
AS WELL AS TO FUND PROGRAM MANAGEMENT FEES
AND CONSTRUCTION MANAGEMENT FEES ASSOCIATED
WITH SAID IMPROVEMENTS, IN ACCORDANCE WITH
CHAPTER 163.387(7)(a), FLORIDA STATUTES.
WHEREAS, in August and October, 2000, two Revenue Bonds were issued, in the
amount of $52,170,00, for storm water improvements and $54,310,000 for water and
sewer improvements throughout the City; and
WHEREAS, since the proceeds from the bond issues fall short of addressing the
infrastructure improvements contemplated, the Administration recommends funding those
improvements located within the Redevelopment Areas with unencumbered Trust Fund
revenues; and
WHEREAS, the Capital Improvements Projects (CIP) Office has estimated that a
total of $3.7 Million is needed in the City Center Redevelopment Area and $25 Million in
the South Pointe Area, to address storm water, water, sewer and related subsurface and
surface infrastructure improvements in the two areas; and
WHEREAS, these estimates also reflect anticipated soft costs such as architectural
and engineering fees, program and construction management fees, and right-of-way
infrastructure management fees; and
WHEREAS, at present, City Center is estimated to have $3,279,392 in
unencumbered Trust Fund revenues to appropriate'towards these improvements and
South Pointe has an estimated total of $9,820,544; and
WHEREAS, pursuant to Chapter 163.387(7)(a), Florida Statutes, on the last day of
the fiscal year of the Redevelopment Agency, any money which remains in the trust fund
after payment of expenses, shall be returned to the taxing authority; and
WHEREAS, the Administration recommends appropriating $3,279,392 from City
Center and $9,820,544 from South Pointe towards storm water, water, sewer and related
infrastructure improvements in the respective areas; and
WHEREAS, as future funds become available in the redevelopment areas,
additional funding will be appropriated as needed towards infrastructure and other planned
andlor contemplated improvements, thereby freeing up much needed revenue bond funds
for other parts of the City.
NOW, THEREFORE, BE IT DULY RESOLVED BY THE CHAIRMAN AND
MEMBERS OF THE MIAMI BEACH REDEVELOPMENT AGENCY, that the Board hereby
appropriates $3,279,392 in City Center Trust Fund Revenues and $9,820,544 in South
Pointe Trust Fund Revenues towards water, sewer, storm water, streetscape and related
infrastructure improvements in the City Centerand South Pointe Redevelopment Areas, as
well as to fund program management fees and construction management fees associated
with said improvements, in accordance with Chapter 163.387(7)(a), Florida Statutes.
PASSED AND ADOPTED THIS 25TH DAY OF SEPTMBER, 2002.
ATTEST:
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SECRETARY
"'P~.:1)M1O
FORMaLANGUAGI
aFCIR EXECU1ION
REDEVELOPNENT AGENCY
COIVMISSION ITEM SUMMARY
~
-
Condensed Title:
A Resolution of the Chairman and Members of the Miami Beach Redevelopment Agency, appropriating
$3,279,392 in City Center Trust Fund Revenues and $9,820,544 in South Pointe Trust Fund Revenues
towards water, sewer, storm water, streetscape and related infrastructure improvements in the City Center
and South Pointe Redevelopment Areas, as well as to fund program management fees and construction
management fees associated with said improvements, in accordance with Chapter 163.387(7)(a), Florida
Statutes.
Issue:
The Capital Improvements Projects (CIP) Office has estimated that a total of $3.7 Million is needed in the
City Center Redevelopment Area and $25 Million in the South Pointe Area, to address storm water, water,
sewer and related subsurface and surface infrastructure improvements in the two areas, that otherwise
would have to be funded throu h 2000 Ci ide Revenue Bond Proceeds.
Item Summary/Recommendation:
At present, City Center is estimated to have $3,279,392 in unencumbered Trust Fund revenues to
appropriate towards these improvements. South Pointe has an estimated total of $9,820,544. Pursuant
to Chapter 163.387(7)(a), Florida Statutes, on the last day ofthe fiscal year ofthe Redevelopment Agency,
any money which remains in the Trust Fund after payment of expenses, shall be returned to the taxing
authority. As such, the Administration recommends appropriating $3,279,392 from City Center and
$9,820,544 from South Pointe towards storm water, water, sewer and related infrastructure improvements
in the resoective areas.
Advisory Board Recommendation:
IN/A
Financlallnfonnation:
Source of
Funds:
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LJ
Finance Dept.
2
Ci Clerk's Office Le islatiw Trackin :
Christina M. Cuervo/Kent O. Bonde/Alexandra Rolandelli
Si n-Offs:
Department Director
T:\AGENDAI2002\SEP2502\RDAIRDAappropriate.SUM.doc
AGENDA ITEM
DATE
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9"';;'S <> 2..
CITY OF MIAMI BEACH
CITY HALL 1700 CONVENTION CENTER DRIVE MIAMI BEACH, FLORIDA 33139
www.ci.miami-beach.f1.us
REDEVELOPMENT AGENCY COMMISSION MEMORANDUM
To:
Chairman and Members of the
Miami Beach Redevelopment Agency
Date: September 25,2002
From:
Jorge M. Gonzalez ) J
Executive Director I}Jr 0
A RESOLUTION 0 THE CHAIRMAN AND MEMBERS OF THE MIAMI
BEACH REDEVELOPMENT AGENCY, APPROPRIATING $3,279,392 IN
CITY CENTER TRUST FUND REVENUES AND $9,820,544 IN SOUTH
POINTE TRUST FUND REVENUES TOWARDS WATER, SEWER, STORM
WATER, STREETSCAPE AND RELATED INFRASTRUCTURE
IMPROVEMENTS IN THE CITY CENTER AREA AND SOUTH POINTE
REDEVELOPMENT AREAS, AS WELL AS TO FUND PROGRAM
MANAGEMENT FEES AND CONSTRUCTION MANAGEMENT FEES
ASSOCIATED WITH SAID IMPROVMENTS, IN ACCORDANCE WITH
CHAPTER 163.387(7)(a), FLORIDA STATUTES.
Subject:
ADMINISTRATION RECOMMENDATION
Adopt the Resolution.
ANALYSIS
In August and October, 2000, two Revenue Bonds were issued in the amount of
$52,170,00 for storm water improvements, and $54,310,000 for water and sewer
improvements throughout the City. Since the proceeds from the bond issues fall short of
addressing the infrastructure improvements contemplated, the Administration
recommends funding those improvements located within the Redevelopment Areas with
unencumbered Trust Fund revenues. The Capital Improvements Projects (CIP) Office has
estimated that a total of $3.7 Million is needed in the City Center Redevelopment Area and
$25 Million in the South Pointe Area, to address storm water, water, sewer and related
subsurface and surface infrastructure improvements in the two areas. These estimates
also reflect anticipated soft costs such as architect and engineering fees, program and
construction management fees, and right-of-way infrastructure management fees. It should
be noted that these estimates are based on 5-year projections that served as a basis for
the bond issues and are preliminary in nature. Each of the projects will require detailed
engineering studies in order to come up with more definitive numbers.
At present, City Center is estimated to have $3,279,392 in unencumbered Trust Fund
revenues to appropriate towards these improvements. South Pointe has an estimated
total of $9,820,544. Pursuant to Chapter 163.387(7)(a), Florida Statutes, on the last day of
the fiscal year of the Redevelopment Agency, any money which remains in the trust fund
AGENDA ITEM
DATE
September 25, 2002
Commission Memorandum
RDA - City Center Redevelopment Budget
Page 20'4
after payment of expenses, shall be returned to the taxing authority. As such, the
Administration recommends appropriating $3,630,960 from City Center and $9,820,544
from South Pointe towards storm water, water, sewer, streetscape and related
infrastructure improvements in the respective areas. As future funds become available in
the redevelopment areas, additional funding will be appropriated as needed towards
infrastructure and other planned andlor contemplated improvements, thereby freeing up
much needed revenue bond funds for other parts of the City.
JMG:CMC:PDW:KOB
T:\AGENDA\2002\SEP2502\RDA\RDA appropriate sp.doc
Attachments
September 25, 2002
Commission Memorandum
RDA - City Center Redevelopment Budget
Page 3 of 4
Basis for Appropriations
As of 9/5/02
RDA Appropriations Outstanding
Reso #
Source Amount
Description
Estimated
Balance
9/3/2002
South Pointe
304-98 SP- TF $3,000,000 SP Master Plan - ACI Contract $
355-2000 SP- TF $2,450,000 SP streetscape - ACI Contract 825,000
368-2000 SP- TF $1,000,218 SP streetscape - ACI Change Orders/Site
Improvements/Contingency 844,365
417-2002 SP- TF $801 ,296 Burkhardt Construction 424,308
387-2001 SP- TF $3,184,054 SSDI-South and North - Environmental/Parking
Staging Electrical Relocation 220,102
392-2001 SP- TF $2,381,677 SSDI North - Environmental Mitigation/Seawall
restoration/Storm drainage relocation 2,024,819
426-2002 SP- TF $320,139 SSDI North - Water relocation/New Seawall
Sections 260,696
316-99 SP- TF $84,000 YCAP - CAM Share for Parking Garage 84,000
421-2002 SP- TF $171,000 Alaska Baywalk 171,000
407-2002 SP- TF $1,504,297 Flamingo/Lummus improvements (CIP) 1 ,504,297
415-2002 SP- TF $2,242,742 Flamingo/Lummus improvements (CIP) 2,242,742
ITotal: $17,139,423 $8,601,329
City Center
382-2001 CC- TF $195,000 Zyscovich - Master Plan
418-2002 CC- TF $75,000 Zyscovich - Master Plan
Sub-Total $270,000 $ 198,000
3##-2001 CC- TF $1,415,000 Colony Theater
427 -2002 CC- TF $1,750,000 Colony Theater
Sub-Total $3,165,000 2,999,966
408-2002 CC- TF $547,373 Flamingo Imp (CIP) 01/30/02
416-2002 CC- TF $661,572 Flamingo Imp (CIP) 05/08/02
Sub-Total $1,208,945 1 ,208,945
413-2002 CC- TF $20,978 Rotunda - A&E design 20,978
420-2002 CC- TF $608,636 Lincoln Road imp 608,636
422-2002 CC- TF $138,500 Bass Museum 138,500
ITotal: $5,412,059 $5,175,025
September 25, 2002
Commission Memorandum
RDA - City Center Redevelopment Budget
Page 4 0'4
Est Trust Fund Balances - Aug 31, 2002
Less: Appropriation Balances
Est. Unencumbered Funds
City Center
$8,454,418
$5,175.025
$3,279,392
South Pointe
$18,421,873
$ 8.601.329
$ 9,820,544