254-96 RDA
RESOLUTION NO.
254-96
A RESOLUTION OF THE CHAIRMAN AND MEMBERS OF THE MIAMI
BEACH REDEVELOPMENT AGENCY ADOPTING OPERATING BUDGETS FOR
SOUTH POINTE AND CITY CENTER REDEVELOPMENT AREAS FOR
FISCAL YEAR 1996-97
WHEREAS, the proposed budgets have been prepared in
conjunction with the overall City budget process; and
WHEREAS, adjustments have been made to the proposed budgets
since their submission in July, 1996, reflecting changes due to
community input and refinements; and
WHEREAS, any further changes will result in amendments that
will be presented to the Agency Board for future approval.
NOW, THEREFORE, BE IT DULY RESOLVED BY THE MIAMI BEACH
REDEVELOPMENT AGENCY THAT the Chairman and Me ers hereby adopt the
attached operating budgets for the inte and City Center
redevelopment areas for FY 1996-97.
SECRE'rARY
PASSED AND ADOPTED this 23rd day
Rlw.~1~
FORM APPROVED
REDEVELOPMENT AGENCY
GENERAL COU~EL
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MIAMI BEACH REDEVELOPMENT AGENCY
Proposed Operating Budget FY 96/97
South Pointe Redevelopment Area
Revenues and Other Operating Debt
Sources of Income Fund Service Total
Tax increment $4,100,069 $0 $4,100,069
Marina Rental $120,000 $0 $120,000
Cobb Receivable $538,000 $0 $538,000
Interest Income $42,000 $48,000 $90,000
Operating Transfers In $0 $830,000 $830,000
Fund Balance Carryover $0 $0 $0
Total Revenue: $4,800,069 $878,000 $5,678,069
Operating Debt
Operating Expenses: Fund Service Total
Management Fee $414,000 $0 $414,000
Advertising & Promotion $3,000 $0 $3,000
Debt Service Cost $0 $878,000 $878,000
Postage & Mailing $3,000 $0 $3,000
Printing $3,000 $0 $3,000
Office Supplies & Equipment $5,430 $0 $5,430
Meetings & conferences $2,000 $0 $2,000
Dues & subscriptions $1,000 $0 $1,000
Submerged land lease $115,000 $0 $115,000
Audit Fee $4,000 $0 $4,000
Legal fees $400,000 $0 $400,000
Professional Services $209,639 $0 $209,639
Miscellaneous $110,000 $0 $110,000
Total Operating Expenses: $1,270,069 $878,000 $2,148,069
Operating Out - Debt Svc: $830,000 $0 $830,000
Portofinoloan $2,700,000 $0 $2,700,000
Excess (Deficiency) of
Revenues and Expenses: $0 $0 $0
102
MIAMI BEACH REDEVELOPMENT AGENCY
Proposed Operating Budget FY 96/97
City Center Redevelopment Area
Revenues and Other Operating Debt
Sources of Income Fund Service Total
Tax Increment $2,717,219 $0 $2,717,219
Contribution from Resort Tax $3,258,781 $0 $3,258,781
Interest Income $24,000 $200,000 $224,000
Operating Transfers In $0 $5,500,000 $5,500,000
Fund Balance Carryover $0 $0 $0
Total Revenue: $6,000,000 $5,700,000 $11,700,000
Operating Debt
Operating Expenses: Fund Service Total
Management Fee $414,000 $0 $414,000
Advertising & Promotion $3,000 $0 $3,000
Debt Service Cost $0 $5,700,000 $5,700,000
Postage & Mailing $3,000 $0 $3,000
Printing $3,000 $0 $3,000
Office Supplies & Equipment $5,000 $0 $5,000
Meetings & conferences $2,000 $0 $2,000
Dues & subscriptions $1,000 $0 $1,000
Audit Fee $4,000 $0 $4,000
Professional & Related Fees $50,000 $0 $50,000
Miscellaneous Expenses $15,000 $0 $15,000
Total Operating Expenses: $500,000 $5,700,000 $6,200,000
Operating Out - Debt Svc: $5,500,000 $0 $5,500,000
Excess (Deficiency) of
Revenues and Expenses: $0 $0 $0
103