440-2002 RDA Reso
RESOLUTION NO. 440-G002
A RESOLUTION OF THE CHAIRMAN AND MEMBERS OF THE MIAMI
BEACH REDEVELOPMENT AGENCY, APPROPRIATING $23,397.51
FROM THE AVAILABLE SOUTH POINTE TAX INCREMENT FUNDS, IN
ORDER TO PAY THE 2002 AD VALOREM PROPERTY TAXES FOR 108
PARKING SPACES KNOWN AS THE CITY UNIT PORTION (FOLIO NO.
02-4203-251-0002) OF MURANO AT PORTOFINO PROJECT.
WHEREAS, on November 7, 1995, the Miami Beach Redevelopment Agency ("the
RDA") entered into a Development Agreement with West Side Partners, Ltd., a Florida
limited partnership ("West Side"); East Coastline Development, Ltd., a Florida limited
partnership; 404 Investments, Ltd., a Florida limited partnership; Azure Coast
Development, Ltd., a Florida limited partnership; Beachwalk Development Corporation, a
Florida corporation; Portofino Real Estate Fund, Ltd., a Florida limited partnership; St.
Tropez Real Estate Fund, Ltd., a Florida limited partnership; and Sun & Fun,lnc., a Florida
corporation; and the City of Miami Beach, Florida; and
WHEREAS, pursuant to this Development Agreement, the City, the RDA and West
Side entered into a Parking Agreement on January 10, 1996, which survived a 1995
Settlement Agreement and was further amended by a 1998 Settlement Agreement
approved on September 23, 1998, which provided for parking to be constructed on both
SSDI-South and SSDI-North and also provided for the RDA to pay the capital costs, base
rent payment and pro-rata share of operating expenses for the 108 parking spaces on
SSDI-South; and
WHEREAS, pursuant to Resolution No. 388-2001, dated June 27,2001, authorizing
the Chairman and Secretary of the RDA to execute a Lease Agreement between TRG-
SSDI, Ltd., the City, and the RDA, and appropriating $1,149,336 of Redevelopment Trust
Funds for the payment of capital costs, it was decided that should Miami-Dade County
determine in the future that the subject area be separately assessed and taxed, it would be
the City's responsibility and the methodology for reimbursement would be determined at
that time; and
WHEREAS, for the first time, the RDA received the 2002 Ad Valorem tax bill for the
Murano at Portofino Condo Parcel 2 - Leased Premises 108 Parking Spaces as per
Official Records 20136-0325 0102 4, assessed at a value of $972,000; and
WHEREAS, in order to take advantage of the four percent discount for early
payment, the $23,397.51 must be paid by November 30,2002.
NOW, THEREFORE BE IT DULY RESOLVED BY THE CHAIRMAN AND
MEMBERS OF THE MIAMI BEACH REDEVELOPMENT AGENCY, that the Chairman and
Members of the RDA authorize the appropriation $23,397.51 from the available South
Pointe Tax Increment Funds, in order to pay the 2002 Ad Valorem property taxes for 108
parking spaces known as the City Unit Portion (Folio No. 02-4203-251-0002) of Murano at
Portofino Project.
PASSED and ADOPTED this 13th day of Novem r, 20 .
ATTEST:
.F'C:-~
- ... .. S.ECRETARY
F:\ODHP\$ALLlAnna\OtherIMurano TaxesReso.doc
APPROVED AS TO
FORM" LANGUAGe
& FOR EXECUTION
AlA 1M. n,.1L [!~ 1-or
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~
REDEVELOPMENT AGENCY
COMMISSION ITEM SUMMARY
a:.
""iiiiF
Condensed Title:
A resolution appropriating $23,397.51 from the aVailable South Pointe Tax Increment Funds, in order to
pay the 2002 Ad Valorem Property Taxes for 108 parking spaces known as the City Unit Portion (Folio No.
02-4203-251-0002) of Murano at PortofinoProiect.
Isaue:
For the first time, the RDA received the 2002 Ad Valorem Combined Tax Bill for the 108 parking spaces
constructed on SSDI-South, in the amount of $23,397.51, based on a taxable value of $972,000. In order
to take advantage of the four percent discount for early payment, this amount is due by November 30,
2002.
Item SummarvlRecommendation:
The Administration recommends appropriating available funds from the South Pointe Tax Increment Funds
in order to pay said taxes.
Advisory Board Recommendation:
I N/A
Flnanciallnfonn8tion:
Source of Amount Account Approved
Funds: 1 $23,397.51
RDA- 2
South 3
Pointe 4
Tax
Increme
nt Funds
Finance Dept. Total $23,397.51
C Clerk's OffIce IslatIYe Trackin :
Christina M. CuervolPatricia Walker/Anna Parekh
81 n.()fJs:
Deparbnent Director
Assistant City Manager
F:\DDHP\$ALL IAnna\Other\Murano TaxesSummary.doc:
Agenda Item
Date
3C-
//-/3-()'L
CITY OF MIAMI BEACH
CITY HALL 1700 CONVENTION CENTER DRIVE MIAMI BEACH, FLORIDA 33139
_.ci.rniami-beach.f1.U8
REDEVELOPMENT AGENCY MEMORANDUM
From:
Chairman and Members of the Board
Of the Miami Beach Redevelopment Agency
Jorge M. Gonzalez tL~
Executive Director d IJ" - IJ
Date: November 13, 2002
To:
A RESOLUnON OF THE CHAIRMAN AND MEMBERS OF THE MIAMI BEACH
REDEVELOPMENT AGENCY APPROPRIATING $23,397.51 FROM THE
AVAILABLE SOUTH POINTE TAX INCREMENT FUNDS, IN ORDER TO PAY THE
2002 AD VALOREM PROPERTY TAXES FOR 108 PARKING SPACES KNOWN
AS THE CITY UNIT PORTION (FOLIO NO. 02-4203-251-0002) OF MURANO AT
PO~TOFINO PROJECT.
RECOMMENDAnON:
Adopt the Resolution,
SUbject:
~YSIS:
The RDA entered into a Development Agreement dated November 7, 1995, with West Side
Partners, Ltd., a Florida limited partnership ("West Side"); East Coastline Development, Ltd., a
Florida limited partnership; 404 Inl/estments, Ltd., a Florida limited partnership; Azure Coast
Development, Ltd., a Florida limited partnership; Beachwalk Development Corporation, a Florida
corporation; Portofino Real Estate Fund, Ltd., a Florida limited partnership; St. Tropez Reat Estate
Fund, Ltd., a Florida limited partnership; and Sun & Fun, Inc., a Florida corporation; and the City of
Miami Beach, Florida, and pursuant to this Development Agreement, the City, RDA and West Side
entered into a Parking Agreement on January 10,1996.
Said Parking Agreement, which survived a 1995 Settlement Agreement, and was further amended
by a 1998 Settlement Agreement approved on September 23, 1998, provided for parking to be
constructed on both SSDI-South and SSDI-North and also provides for the RDA to pay the capital
costs, base rent payment and pro-rata share of operating expenses for the 108 parking spaces on
SSDI-South.
Resolution No. 388-2001, dated June 27, 2001, authorized the Chalnnan and Secretary of the RDA
to execute a Lease Agreement between TRG-SSDI, Ltd., the City, and the RDA; appropriated
$1,149,336 of Redevelopment Trust Funds for the payment of capital costs; and stated that should
Miami-Dade County detennine in the future that the subject area be separately assessed and taxed,
it would be the City's responsibility and the methodology for reimbursement would be detennlned at
that time.
For the first time, the RDA received the 2002 Ad Valorem tax bill for the Murano at Portofino Condo
Parcel 2 - Leased Premises 108 Parking Spaces as per Official Records 20136-0325 0102 4,
assessed at a value of $972,000. In order to take advantage of the four percent discount for early
payment, the $23,397.51 tax bill must be paid by November 30,2002.
As such, the Administration recQmmends appropriating available funds from the available South
Pointe Tax Increment Funds for payment of said taxes.
JMG/C~AP
F:IDOHP\SALLlAnna\OtherIMulllnoTlI)CllsMemo.doc
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