177-94 RDA
RESOLUTION NUMBER
177-94
A RESOLUTION OF THE MIAMI BEACH REDEVELOPMENT
AGENCY, ADOPTING AN OPERATING BUDGET FOR THE
SOUTH POINTE REDEVELOPMENT AREA 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 designated 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.
NOW, THEREFORE, BE IT DULY RESOLVED BY THE MIAMI BEACH
REDEVELOPMENT AGENCY that the Agency Board hereby adopts the budget
for the South pointe Redevelopment Area attached as Exhibit "A" for
Fiscal Year 1994-1995.
PASSED AND ADOPTED this
2nd
day of
, 1994.
~L.~
SECRETARY
MSD : j m
Attachment
FORM APPROVED
Legal Dept.
By :reD
Date /0 -2J-- 7~
EXHIBIT IIAII
MIAMI BEACH REDEVELOPMENT AGENCY
SOUTH POINTE
BUDGET FOR FISCAL YEAR 94/95
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
OperatinQ:
Management Agreement - Current $465,000 $465,000
Advertising and Promotion 2,350 2,350
BanktBond 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
Streetscape 1,000,000
Goodman Terracel Land Acq. 2,000,000 2,000,000
Marina - North Parking Lot Imp. 400,000 400,000
Contingency - Public Improvements 1,025,000 1 ,025,000
Consultant Services (DPZ - Phase 2) 50,000 50.000
Total Capital Projects $7,925,000 $6,925.000
Operatina Transfer Out - Debt Service $988.216 $988,216
Total Expenditures and Other Uses $9,512,716 $1 ,036,716 $10.549.432
Revenue Over (Under) Exps. $0 $0 $0
RMC/RWS
Miami Beach
Redevelopment Agency
1700 Convention Center Drive
Miami Beach, Florida 33139
Telephone: (305) 673.7193
Fax: (305) 673.7772
REDEVELOPMENT AGENCY MEMORANDUM NO. 94-43
November 2, 1994
TO: Chairman and Members of the Board
of the Redevelopment Agency
FROM: Roger M. carlto~~J. j) , -
Executive Direc~~
SUBJECT: A RESOLUTION OF THE MIAMI BEACH REDEVELOPMENT
AGENCY ADOPTING THE OPERATING BUDGET FOR THE
SOUTH POINTE REDEVELOPMENT AREA FOR FISCAL
YEAR 1994-1995
RECOMMENDATION:
It is recommended that the Redevelopment Agency Board adopt the
attached Resolution which establishes a budget for the South pointe
Redevelopment Area for Fiscal Year 1994-1995.
BACKGROUND:
The proposed budget had been prepared to coincide with the overall
City budget process. The Agency Board requested that the South
pointe Advisory Board have an opportunity to review and approve
this budget. At the South pointe Advisory Board meeting of October
20, 1994, the members accepted the budget with a request that if
the purchase of Goodman Terrace by the Redevelopment Agency from
the Housing Authority is not firmly committed by June, 1995, the $2
million be reprogrammed for capital improvements within the South
Pointe Redevelopment Area.
Please note that some minor adjustments have been made to the
proposed budget since its submission in July, 1994. Any major
decisions resulting in further budget revisions will be presented
to the Agency Board for approval.
ANALYSIS:
The proposed budget should be approved now to complete the City
process, with the understanding that, as indicated above, prior to
approval, the Agency will hold workshops and public meetings for
consideration of amendment(s) as necessary during the year.
RMC:MSD: jm
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I)ooevel()pment Ulstrlct
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l?edevelwment UIm1ct
AGENDA ITEM 2-E
NOVEMBER 2, 1994
1