93-20977 Reso RESOLUTION NO. 93-20977
A RESOLUTION OF THE MAYOR AND CITY COMMISSION
OF THE CITY OF MIAMI BEACH, FLORIDA DECLARING
THE CITY OF MIAMI BEACH'S SUPPORT FOR, AND
FURTHER URGING THE APPROVAL OF THE ATTACHED
RESOLUTION OF THE BOARD OF COUNTY
COMMISSIONERS OF DADE COUNTY, FLORIDA,
APPROVING CERTAIN TERMS OF MIAMI BEACH
REDEVELOPMENT AGENCY TAX INCREMENT REVENUE
BONDS, SERIES 1993, (CITY CENTER/HISTORIC
CONVENTION VILLAGE) , AND ORDINANCE OF THE
BOARD OF COUNTY COMMISSIONERS AMENDING SECTION
29-81 OF THE CODE OF METROPOLITAN DADE COUNTY,
FLORIDA, RELATING TO ECONOMIC DEVELOPMENT AND
AD VALOREM TAX EXEMPTIONS FOR NEW AND
EXPANDING BUSINESSES IN ENTERPRISE ZONES TO
EXCLUDE A NEWLY CREATED COMMUNITY
REDEVELOPMENT AREA LOCATED IN SOUTH MIAMI
BEACH.
WHEREAS, the Miami Beach Redevelopment Agency (Agency) intends
to issue its Tax Increment Revenue Bonds, Series 1993 , (City
Center/Historic Convention Village) , in a principal amount not
exceeding $25,000, 000 (Bonds) to finance the acquisition, clearing
and/or rehabilitation of certain property and the construction of
certain public improvements in an area of the City of Miami Beach,
Florida (City) known as the "City Center/Historic Convention
Village Redevelopment and Revitalization Area" (Redevelopment
Area) , in accordance with a redevelopment plan adopted by the
Agency under Chapter 163, Part III, Florida Statutes, as amended
(Act) , and approved by Dade County, Florida (County) by Resolution
NO. 317-93 adopted on March 30, 1993, (Approving Resolution) ; and
WHEREAS, in accordance with the provisions of Section 163.410,
Florida Statutes, as amended, and- pursuant to the Approving
Resolution and an Interlocal Cooperation Agreement entered into by
and between the County and the City (Interlocal Agreement) , the
County delegated to the Mayor and City Commission of the City and
the Agency every power originating under the Act and conferred upon
the Board of County Commissioners of the County (Board) with
respect to the Redevelopment Area except for certain specific
powers which it retained for the Board, including the power to
approve the amount, duration and purpose of any bonds, notes,
advances on other indebtedness for the Redevelopment Area pledging
or otherwise obligating tax increment funds; and
WHEREAS, the Bonds shall be secured, in part, with tax
increment funds generated within /the Redevelopment Area and
deposited in the "City Center/Historic Convention Village
Redevelopment and Revitalization Trust Fund" established by
Ordinance No. 93-2836 adopted by the City on February 24, 1993, and
by Ordinance No. 93-28 enacted by the County on April 27, 1993
(Trust Fund Ordinance) , and held by the Agency in accordance with
the provision of the Approving Resolution, the Interl.ocal Agreement
and the Trust Fund Ordinance; and
WHEREAS, pursuant to the Constitution of the State of Florida,
Section 196. 1995 Florida Statutes, as amended, and a referendum
held in Dade County, Florida on November 4, 1986, the Board of
County Commissioners (Board) of Dade County, Florida (County)
enacted No. 88-27 on April 19, 1988, authorizing the Board, at its
discretion, to grant by ordinance economic development ad valorem
tax exemptions to new and expanding business located within
enterprise zones, including an enterprise zone established in south
Miami Beach, which ordinance has been codified in the Code of
Metropolitan Dade County, Florida (County Code) as Chapter 29,
Article X; and
WHEREAS, the granting of economic development ad valorem tax
exemptions to new and expanding businesses in the Community
Redevelopment Area would negatively affect the ability to undertake
tax increment financing in the Community Redevelopment Area; and
WHEREAS, the Mayor and City Commission declares it to be in
the best interest of the City of Miami Beach, Florida, for the
Board of County Commissioners of Dade County, Florida, to approve
the attached County resolution and Ordinance, particularly with
regard to the attached Ordinance which would amend Section 29-81 of
the Dade County Code to exclude the Community Redevelopment area
from eligibility for economic development Ad Valorem Tax exemption
to new and expanding businesses, therefore allowing the City of
Miami Beach to effectively issue the subject tax increment bonds
within the City Center/Historic Convention Village Redevelopment
and Revitalization Area to undertake planned economic and capital
improvements.
2
NOW THEREFORE, BE IT DULY RESOLVED BY THE MAYOR AND CITY
COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA declaring the City
of Miami Beach's support for, and further urging the approval of,
the attached resolution of the Board of County Commissioners of
Dade County, Florida, approving certain terms of Miami Beach
Redevelopment Agency Tax Increment Revenue Bonds, Series 1993,
(City Center/Historic Convention Village) , and Ordinance of the
Board of County Commissioners amending Section 29-81 of the Code of
Metropolitan Dade County, Florida, relating to economic development
and ad valorem tax exemptions for new and expanding businesses in
enterprise zones to exclude a newly created community redevelopment
area located in south Miami B
PASSED and ADOPTED this 17 h day of No tuber , 993 .
O
ATTEST:
flEA&t.v1/4A E-
CITY CLERK
jm:c:\wp51\data\sec2981A.res
FORM APPROVED
LEGAL DEPT.
B c7
Date //" )21
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CITY OF MIAMI BEACH
CITY HALL 1700 CONVENTION CENTER DRIVE MIAMI BEACH FLORIDA 33139
Ismom
OFFICE OF THE CITY MANAGER TELEPHONE: (305) 673-7010
FAX: (305) 673-7782
COMMISSION MEMORANDUM NO. &(T7 93
TO: Mayor Seymour Gelber and DATE: NOVEMBER 174 1993
Members of the City Commission
FROM: Roger M. C.
City Manager
SUBJECT: A Resolution requesting an amendment to Section 29-81 of
the Code of Metropolitan Dade County, Florida,
disallowing the provision of economic development Ad'
Valorem tax exemptions for new and expanding businesses
located within the boundaries of the Miami Beach
Enterprise Zone which fall within the newly created
Historic Convention Village Redevelopment and
Revitalization Area.
ADMINISTRATION RECOMMENDATION
The Administration recommends that the accompanying resolution be
passed requesting an amendment to Section 29-81 of the Code of
Metropolitan Dade County, disallowing the provision of Tax
Abatement within the boundaries of the Miami Beach Enterprise Zone,
which fall within the newly created Historic Convention Village
Redevelopment and Revitalization Area.
BACKGROUND
On January 21, 1993, the State of Florida' s Department of Community
Affairs approved the City of Miami Beach' s application to amend the
boundaries of the South Miami Beach Enterprise Zone.
The Enterprise Zone boundary was extended with the purpose of
incorporating the North Beach area. In order to accomplish this,
the City extended the boundary up the centerline of Collins Avenue,
encompassing all land east of the centerline up to 24th Street, and
then used the Indian Creek Waterway to connect with the North Beach
area.
The area east of the centerline of Collins Avenue up to 24th Street
also falls within the City Center/Historic Convention Village
Redevelopment and Revitalization Area, a designated "Community
Redevelopment Area which includes all land area generally bounded
by 24th Street on the north, 14th Lane on the south, the Atlantic
Ocean on the east and West Avenue on the west.
ANALYSIS
Pursuant to the Constitution of the State of Florida, Florida
Statutes Section 196 .1995, as amended, and a referendum held in
Dade County Florida on November 4th, 1986, the Board of County
Commissioners of Dade County, Florida encacted Ordinance No. 88-27
on April 19, 1988, authorizing the Board, at its discretion, to
grant by ordinance Ad Valorem tax exemptions to new and/or 1 gs
expanding businesses within located within an enterprise zone.
AGENDA
ITEM
DATE 1I - I ) 93
Page 2
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There is a problem in offering this incentive in that part of the
Enterprize Zone which falls within the Redevelopment Area, since it
would adversely affect the ability to undertake tax increment
financing because the amount of increment could be offset with
abatements . The Administration does not believe that the
elimination of Ad Valorem tax abatements within the City Center
Redevelopment Area (none have been requested to date) will inhibit
the redevelopment of the area in light of the major public and
private investments which will be induced with the proceeds of tax
increment financing.
Unless, Section 29-81 of the Code of Metropolitan Dade County is
amended to disallow tax abatement in the Miami Beach Enterprise
Zone, the Redevelopment Agency of the City of Miami Beach will not
be able to issue Tax Increment bonds within the City
Center/Historic Convention Village Redevelopment and Revitalization
Area to undertake planned economic and capital improvements.
RMC/MD/sh
Attachments
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181
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REHOLUTxow gq.
RESOLUTION APPROVING CERTAIN TERMS Oa MIAMI
BEACH RaDEVELOPImAT AGENCY TAX =UMW
REVENUE EOONDS, miss 1993 (Cxlr CENTER/
HISTORIC CONVENTION VILLAGE)
NEZRZAB, the Miami Beach Redevelopment Agency (the 'Agency')
intends to iUNue its Tax Increment Revenue Bonds, Series 1993 (City . .
Center/Historic Convention Village) , in a principal amount not
•-
exceeding $25,000,000 (the RBonds')to finance the acquisition,
clearing and/or rehabilitation of certain property and the con-
struction of certain public improvements in an area of the City of
Miami Beach, Florida (the "City") known as the 'City Center/
Historic Convention Village Redevelopment and Revitalization, Area"
(the 'Redevelopment Area') in accordance with a redevelopment plan
adopted by the Agency under Chapter 163, Part III, Florida
Statutes, as amended (the "Act") , and approved by Dade County,
Florida (the "County") by Resolution No. 317-93 adopted on March
30, 1993 (the 'Approving Resolution") ; and
NBN A.5M, in accordance with the provisions of Section 163.410,
Florida Statutes, as amended, and pursuant to the Approving Rego-
• lution and an Interlocal Cooperation Agreement entered into by and
between the County and the City (the "Interlocal Agreement") , the
County delegated to the City Commission of the City and the Agency
• every power originating under the Act and conferred upon the Board
of County Commissioners of the County (the 'Board") with respect to
the Redevelopment Area except for certain specific powqrs which it
•
retained for the Board, including the power to approve the amount,
duration and purpose of any bonds, notes, advances on other indebt-
ednees for the Redevelopment Area pledging or otherwise obligating
tax increment funds: and
Tuno 3A0, the Bonds shall be secured, in part, with tax incre-
ment funds generated within the`Redevelopment Area and deposited in
the 'City Center/Historic Convention Village Redevelopment and. . _..___.....
Revitalization Trust Fund' established by Ordinance NO. 93-2836
adopted by the City on February 24, 1993 and by Ordinance No. 93-28
enacted by the County on April 27, 1993 (the 'Trust Fund Ordi-
nances) and held by the Agency in accordance with the provisions of
the Approving Resolution, the Interlocal Agreement and the Trust
Fund Ordinance;
/imm TBxt*TORE, BE IT RESOLVED by the Board of county Commie-
sionere of Dade County, Florida that:
Section 1. The foregoing recitations are deemed true and
correct and are hereby incorporated as a part of this resolution.
Section 2. In accordance with the requirements of the
Approving Resolution, the Ynterlocal Agreement and the Trust Fund
Ordinance, the issuance of the Bonds by the Agency in a principal
amount not to exceed $25,000,000, with a final maturity not later
than December 31, 2022, for the purpose of financing the acquisi-
tion, clearing and/or rehabilitation of certain property and the
Pnnar,-nntinn n01 nev.fe4.. r...%1 40 4...pro,ft.eato. sal s.lrhis ohs.
1
Redevelopment Area, funding a debt service reserve account and
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paying costs of issuance with respect to the Bonds' is hereby
approved.
3. The officers and employees of the County are
hereby authorized to take all necessary action so as to provide for
the issuance of the Bonds by the Agency.
Section 4. This resolution shall take effect immediately upon
its passage.
The foregoing resolution was offered by Commissioner •
•� w
, who moved its adoption. The Motion was seconded by
,Commissioner and upon being put to a
vote, the vote was as follows:
James Burke Niguel Diaz ds la Portilla
Betty T. Ferguson Maurice A. Ferro
Larry Hawkins Bruce Kaplan
Natacha 8. Millen Dennis C. Mops
Alexander Penelas Pedro Reboredo
Javier D. 8outo Sherman 8. Winn
Arthur B. Teele
The Chairperson thereupon declared this resolution duly passed
and adopted this day of 1993.
DADS COUNTY, FLORIDA •
BY ITS BOARD OF
COUNTY COO.24I88YONLRB
HARVEY RDVIN, CLERK
By:
Deputy Clerk
Approved by County Attorney
as to form and legal
sufficiency:
'3
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ORDINANCE NO.
ORDINANCE AMENDING SECTION 29-81 OF THE CODE
'OF METROPOLITAN DADE COUNTY, FLORIDA
RELATING TO ECONOMIC DEVELOPM qy AD
VALOREM TAX FXEMPFIONS FOR NEW AND
EXPANDING BUSINESSES IN ENTERPRLSE ZONES TO
EXCLUDE A NEWLY CREATED COMMUNITY
REDEVELOPMENT AREA LOCATED IN SOUTH MIAMII
BEACH;PROVIDING FOR SEVERABILITY, INCLUSION 1N
THE CODE AND EFFECTIVE DATE.
WHEREAS,pursuant to the Constitution of the State of Florida, Florida Statute Section
196.1995, as amended, and a referendum held in Dade County,Florida on November 4, 1986,
the Board of County Commissioners (the 'Board') of Dade County, Florida (the 'County")
enacted Ordinance No. 88-27 on April 19, 1988,authorizing the Board,at its discretion, to grant
by ordinance economic development ad valorem tax exemptions to new and pig business
' located within enterprise zones, including an enterprise zone established in South Miami Beach,
which ordinance has been codified in the Code of Metropolitan Dade County, Florida (the
'County Code') as Chapter 29, Article X; and
WHEREAS,the era of South Miami Beach generally bounded by Twenty-Fourth Street
on the north, West Avenue on the west, the Atlantic Ocean on the east and Fourteenth Lane an
the south IS i
designated as a'community redevelopment area' (the'Community Redevelopment
Area")known as the City Center/Historic Convention Village Redevelopment and Revitalization
Area, said Community Redevelopment Area having been established pursuant to Chapter 163,
Part III, Florida Statutes, for purposes of, among others, providing tax increment financing for
projects within the Community Redevelopment Area; and
WHEREAS, the granting of economic development ad valorem tax exemptions to new
and expanding businesses in the Community Redevelopment Area would affect negatively the
ability to undertake tax increment financing,in the Community Redevelopment Area; and
•
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WHEREAS, this Board declares it to be in the best interest of the county to exclude the
Community Redevelopment Area from eligibility for economic development ad valorem tax
exemptions to new and expanding businesses.
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF COUNTY
COMMISSIONERS OF DADS COUNTY,`FLORIDA:
Section 1. The foregoing recitations are incorporated herein as part of this Ordinance.
•
Section a. Section 29-1 1 of the County Code is hereby amended to read as follows:v
Sec. 29-81. Authority to grant the exemptions.
Pursuant to the terms of this article(Ordinance Number 88.27),the
Board of County Commissioners at its discretion is hereby
authorized to grant by ordinance ad valorem tax exemptions to new
and expanding businesses located within enterprise zones, as
defined herein, except in each the community redevelopment
argil located in South Miami Beach which areamiXt generally
bounded by Sixth Street on the north, Biscayne Bay on the west,
the Atlantic Ocean on the east and Government Cut on the south
and (10 merely bonded by Wenty-FotglUtcasiubrasaL Avenue on theLweitt, the Atlantic Ocean on the east and
Eaudecallanutuiraglith and in the community redevelopment
area located in Southeast Overtown/Park West which is generally
bounded by 1395,I-95,N.W. 5th Street, Metrorail rights-of-way,
N.W. lit Street, North Miami Avenue, N.B. 5th Street and
Biscayne Boulevard. The Board of County Commissioners may
also agree to grant an exemption based merely on presentation of
proposals that indicate serious intent to build a new business or
expand an existing business within an enterprise zone,except in the
above referenced community redevelopments areas located in South
Miami Beach, and Southeast Overtown/Park West, provided
however, that the improvements to real property are made or the
tangible personal property are added or increased on or after the
day of the ordinance granting the exemption is adopted.
Words stddren through shall be deleted. Underscored words constitute the amendment
proposed. Remaining provisions are now in effect and remain unchanged.
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Section 3. If any section, sentence, clause or provision of this ordinance is held
invalid, the remainder of this ordinance shall not be affected by such invalidity.
Section 4. It is the intention of the Board,and it is hereby ordained that the provisions
of this ordinance shall become and be made a part of the County Code. The sections of this
ordinance may be renumbered or reloaded to accomplish such intention, and the word
"office' may be changed to "soon', 'article' or other appropziaOC word.
Section 3. This ordinance shall become effective tea (10) days after the date of its
enactment.
Passed and Adopted:
Approved by the County Attorney as
, to Dorm and legal sufficiency:
Prepared
//PS
CITY OF MIAMI BEACHeri:ILWA
CITY HALL 1700 CONVENTION CENTER DRIVE MIAMI BEACH FLORIDA 33139
TELEPHONE: 4734010
OFFICE OF THE CITY MANAGER
November 8, 1993
Hon. Arthur Teele, Chairman
Board of County Commissioners
Metro-Dade County
111 N.W. 1st Street
Miami, FL 33134
Dear Chairman Teele:
On November 4, 1993, the City Commission of the City Miami Beach
serving in its capacity as the Executive Board of the Miami Beach
Redevelopment Agency held a public hearing and adopted a series of
resolutions authorizing the issuance of $25 million in Tax
Increment Revenue Bonds to finance the first phase of the
development of convention quality hotel rooms. This action was
required by Section 147 (F) of the Internal Revenue Code of 1986
(as amended) for "private activity bonds".
The convention quality hotel development project, along with the
tax increment proceeds necessary to support the $25 million bond
issue are all located in the newly created tax increment district,
the City Center/Historic Convention Village District Redevelopment
and Revitalization Area.
At present, an anomaly exists wherein the new tax increment
district overlaps with the South Miami Beach Enterprise Zone. In
the tax increment district, the increases in ad valorem taxes will
be pledged to fund the $25 million in bonds. In the enterprise
zone, the potential exists to grant ad valorem tax exemptions to
new and expanding businesses.
In order to protect bondholder interest in the pledge of tax
increment revenues, we are requesting the Board of County
Commissioners to consider an ordinance that would amend Section 29-
81 of the Code of Metropolitan Dade County, relating to economic
development ad valorem tax exemptions to exclude the newly created
convention center tax increment district from the enterprise zone.
Hon. Arthur Teele, Chairman
November 8, 1993
Page -2-
The proposed ordinance amending Section 29-81 to exclude the newly
created district and a resolution authorizing the issuance of $25
million in Tax Increment Revenue Bonds, along with all supporting
documentation have been submitted for first reading to the County
Administration for inclusion on the County Commission agenda of
November 16, 1993 .
Due to the urgency to ensure that our application for $25 million
in Tax Increment Revenue Bonds is considered for an allocation
under the State's 1993 volume cap, the City of Miami Beach requests
that the matter be scheduled for initial review before the Finance
Committee at the November 15, 1993 meeting. Your cooperation in
this and all other matters is always appreciated.
Sin rely
Roger M. Carlton
City Manager
PFL:me
cc: James Burke, Commissioner
Miguel Diaz De'La Portilla, Commissioner
Natacha Millian, Commissioner
Alex Pinelas, Commissioner
Joaquin Avino, County Manager
Ed Marquez, Finance Director
Robert Nachlinger, Finance Director
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