198-95 RDA
RESOLUTION NUMBER
198-95
A RESOLUTION OF THE CHAIRMAN AND BOARD OF THE
MIAMI BEACH REDEVELOPMENT AGENCY APPROVING THE
REVISED SOUTH POINTE BUDGET FOR FISCAL YEAR
1994-1995
WHEREAS, the Miami Beach Redevelopment Agency is empowered by
the State of Florida to effectuate the revitalization and
rehabilitation of blighted areas; and
WHEREAS, the South pointe area has been designed a blighted
area and officially as a redevelopment project area; and
WHEREAS, there are contractual obligations and substantial
need for capital improvements in this area; and
WHEREAS, on November 2, 1994, the Agency Board adopted the
budget for the South Pointe Redevelopment Area attached as Exhibit
"A" for Fiscal Year 1994-1995; and
WHEREAS, it is necessary at this time to revise the budget for
the South Pointe Redevelopment Area attached as Exhibit "B" for
Fiscal Year 1994-1995.
NOW, THEREFORE, BE IT DULY RESOLVED BY THE MIAMI BEACH
REDEVELOPMENT AGENCY that the Agency Board hereby adopts the
revised budget for the South Pointe Redevelopment Area.
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SECRETARY
Apr i1
PASSED AND ADOPTED this
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FORM APPROVED
REDEVELOPMENT AGENCY
GENERAL COUNSEL
By -.:]"'C v
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Attachments
Date
EXHIBIT "A"
MIAMI BEACH REDEVELOPMENT AGENCY
SOUTH POINTE
BUDGET FOR ASCAL YEAR 94/95
Revenues and Other Sources
Tax Increment
Marina Rental
Interest Income
Operating Transfer In
Undesignated Fund Balance
Carryover Cobb (Block 53) - Land Acq.,Etc.
Bond Proceeds
Carryover Streetscape Funding
Total Revenues and Other Sources
Expenditures and Other Uses
Operatin~:
Management Agreement - Current
Advertising and Promotion
SanktBond Fees
Postage and Mailing
Printing
Office Supplies
Meetings and Conference Expenses
Dues and Subscriptions
Submerged Land Lease
Audit Fee
Miscellaneous
Total Operating
Debt Service
Capital:
Complete Cobb (Block 53) - Land Acq.,Etc.
Streetscape
Goodman Terracel Land Acq.
Marina - North Parking Lot Imp.
Contingency - Public Improvements
Consultant Services (DPZ - Phase 2)
Total Capital Projects
OperatinQ Transfer Out - Debt Service
Total Expenditures and Other Uses
Revenue Over (Under) Exps.
General
Fund
$3,165,162
240,000
87,500
Debt
Service
48,500
988,216
Total
$3,165,162
240,000
136,000
988,216
237,000
2,383,645
2,000,000
1.000,000
$10,549,432
636,409
2,383,645
2,000,000
1,000,000
$9.512.716
$1,036,716
$465,000 $465,000
2,350 2,350
1,800 1,800
2,500 2,500
3,000 3,000
750 750
3,500 3,50a
1,000 1,000
112,000 112,000
7,000 7,000
2,400 2.400
$599,500 $1,800 $601 ,300
$1,034,916 $1.034,916
$3,450,000 $3,450,000
1,000,000
2.000,000 2,000,000
400,000 400,000
1,025,000 1,025,000
50.000 50,000
$7.925,000 $6,925,000
$988.216 $988,216
$9.512,716 $1,036.716 $10,549,432
$0 $0 $0
RMC/RWS
EXHIBIT "BI;
MIAMI BEACH REDEVELOPMENT AGENCY Corrected
SOUTH POINTE
PROPOSED AMENDED BUDGET FOR FISCAL 94/95
APRIL 5,1995
General Debt
Revenues and Other Sources Fund Service Total
Tax Increment $3,165,162 $3,165,162
Marina Rental 240,000 240,000
Interest Income 87,500 48 ,500 136,000
Operating Transfer In 988,216 988,216
Undesignated Fund Balance 636,409 237,000
Carryover Cobb (Block 53) - Land Acq.,Etc. 2,383,645 2,383,645
Bond Proceeds 2,000,000 2,000,000
Carryover Streetscape Funding 1.000.000 1.000.000
Total Revenues and Other Sources $9.512.716 $1.036.716 $10.549.432
Expenditures and Other Uses
Operatin!:l:
Management Agreement - Current $465,000 $465,000
Advertising and Promotion 2,350 2,350
BanklBond Fees 1,800 1,800
Postage and Mailing 2,500 2,500
Printing 3,000 3,000
Office Supplies 750 750
Meetings and Conference Expenses 3,500 3,500
Dues and Subscriptions 1,000 1,000
Submerged Land Lease 112,000 112,000
Audit Fee 7,000 7,000
Miscellaneous 2.400 2,400
Total Operating $599 .500 $1.800 $601.300
Debt Service $1.034,916 $1,034.916
Capital:
Complete Cobb (Block 53) - Land Acq.,Etc. $3,450,000 $3,450,000
Block 53-Legal Fees 1,150,000 1,150,000
Streetscape 1,000,000 1,000,000
Land Acq./Settlement-Block 80 330,000 330,000
Marina - North Parking Lot Improvements 400,000 400,000
Contingency - Public Improvements 1,545,000 1,545,000
Consultant Services (DPZ - Phase 2) 50,000 50.000
Total Capital Projects $7 ,925,000 $7.925.000
Operatin!:l Transfer Out - Debt Service $988,216 $988.216
Total Expenditures and Other Uses $9,512.716 $1,036.716 $10.549,432
Revenue Over (Unde~ Exps. $0 $0 $0
RMC/RWS
AGENDA ITEM 2-H
April 5, 1995
Miami Beach
Redevelopment Agency
1700 Convention Center Drive
Miami Beach, Florida 33139
Telephone: (305) 673-7193
Fax: (305) 673-7772
REDEVELOPMENT AGENCY MEMORANDUM NO. 95-22
April 5, 1995
TO: Chairman and Members of the Board
of the Miami Beach Redevelopment Agency
FROM: Roger M. Carlton #1.. ~ J
Executive Direct~
SUBJECT: REVISED SOOTH POINTE REDEVELOPMENT AREA BUDGET FOR
FISCAL YEAR 94/95
This memorandum serves to transmit the revised South pointe
Redevelopment Area budget. The major reasons for these changes are
due to legal fees relating to the purchase of Block 53 for the Cobb
Development ($1,150,000) and the mediated settlement of the
Glicksman-Rose parcel in Block 80 ($330,000) under the quick take
procedure of eminent domain. The total need for funds is
$1,480,000.
There still remains three other parcels to be settled in Block 78
and 80, and the valuation trial is scheduled to begin the week of
April 10, 1995.
Pursuant to the approved conceptual agreement between the City of
Miami Beach and Portofino, the Redevelopment Agency will no longer
be required to purchase Goodman Terrace. A reallocation of
$1,480,000 from this budget line item of $2,000,000 will provide
the funds necessary for the expenses described above. The balance
of $520,000 will be added to the contingency fund and, if
necessary, can be used for settlement of the remaining three
parcels in Block 78 and 80.
This revised budget will be presented to the South pointe Advisory
Board at their April 20, 1995 meeting.
RMC :MSD: jm
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AGENDA ITEM 2-H
April 5, 1995