165-94 RDA
RESOLUTION NUMBER
165-94
A RESOLUTION OF THE CHAIRMAN AND MEMBERS OF THE MIAMI
BEACH REDEVELOPMENT AGENCY AUTHORIZING PAYMENT OF $10,192
PER MONTH TO THE CITY OF MIAMI BEACH FOR MANAGEMENT FEES
FOR THE HISTORIC CONVENTION VILLAGE/CITY CENTER
REDEVELOPMENT AREA FOR FISCAL YEAR 1994 UNTIL THE
OBLIGATION IS FULLY PAID
WHEREAS, the Redevelopment Agency and the City of Miami Beach
entered into a management agreement for Fiscal Year 1994 for a
management fee of $122,300 for the Historic Convention Village/City
Center Redevelopment Area; and
WHEREAS, the Historic Convention Village/City Center
Redevelopment Area has an operating budget limit of $500,000 per
year; and
WHEREAS, Fiscal Year 1994 is the initial year of operation for
the Historic Convention Village/City Center Redevelopment Area; and
WHEREAS, the Historic Convention Village/City Center
Redevelopment Area is responsible for undertaking several major
projects within its initial year of operation; and
WHEREAS, the Redevelopment Agency wishes to retain an adequate
level of operating funds to initiate these activities; and
WHEREAS, a payment plan and schedule has been prepared that
provides reimbursement by the Redevelopment Agency to the City of
Miami Beach by May, 1995.
NOW THEREFORE BE IT DULY RESOLVED BY THE CHAIRMAN AND MEMBERS
OF THE MIAMI BEACH REDEVELOPMENT AGENCY, that the Miami Beach
Redevelopment Agency hereby authorizes the payment of $10,192 per
month to the City of Miami Beach in reimbursement of the funds
expended by the City for projects pursuant to the management
agreement.
PASSED AND ADOPTED THIS
ATTEST:
/.--? ACu! [- .~MN-
~ SECRETARY
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By .1' V9
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Miami Beach
Redevelopment Agency
1700 Convention Center Drive
Miami Beach, Florida 33139
Telephone: (305) 673-7193
Fax: (305) 673-7772
REDEVELOPMENT AGENCY MEMORANDUM NO. 94-18
June 1, 1994
To: Chairman and Members of the Board
of the Redevelopment Agency
From: Roger M. carlt~. /J ~
Executive Dire~~~
SUBJECT: AUTHORIZATION TO PAY THE CITY OF MIAMI BEACH FOR FY
1994 MANAGEMENT FEE FOR THE HISTORIC CONVENTION
VILLAGE/CITY CENTER REDEVELOPMENT AGENCY AT THE RATE OF
$10,192 PER MONTH
ADMINISTRATION RECOMMENDATION:
It is recommended that the Redevelopment Agency Board authorize the
payment of the $122,300 FY 1994 management fee for the Historic
Convention Village/City Center Redevelopment Area to the City of
Miami Beach in twelve monthly installments of $10,192 commencing in
June, 1994.
BACKGROUND:
A management agreement between the Agency and the City was executed
in the amount of $122,300 for FY 1994 for the Historic Convention
village/City Center Redevelopment Area. The initial enabling
policies for this newly created redevelopment district established
an operating expenditure cap of $500,000 per year. The Historic
Convention Village/City Center Redevelopment Area is responsible
for undertaking several major projects within its initial year of
operation. Therefore, the Agency is requesting deferral of payment
in full of the management fee until May, 1995.
The Agency has proposed a schedule of monthly payments of $10,192
starting in June, 1994, which will reimburse the City in full for
the $122,300 management fee by May, 1995. The Agency has conferred
with appropriate City staff regarding this payment plan and it has
been determined to be an acceptable time frame and schedule.
CONCLUSION:
The twelve monthly payments of $10,192 from June 1994 through May,
1995 by the Agency will fully satisfy the obligation for the FY
1994 management fee. Additionally, the proposed payment schedule
will provide payment to the City by the Agency while enabling the
Agency to meet its other financial obligations.
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