1B-Joint Amend City Center-Historic Convention Village Redevelopment PlanREDEVELOPMENI AGENCY ITEM SUMMARY
Condensed Title:
A Resolution Of The Miami Beach Redevelopment Agency, Recommending Approval By The Mayor And City Commisiion Of The City Of futtamr
Beach, Florida, Amendments To The Miami Beach City Center/HistoricConvention Village RedevelopmentAnd Revitalization Area Plan (City Center
RDA), An Approved Redevelopment Plan Under The Provisions Of Section 163.360, Florida Statutes (The Plan); Said Amendments: (A)
lncorporating The City's Proposed Convention Center Renovation And Expansion Project; And (B) Providing ForAn Extension Of The City Center
RDA At A Ninety Five Percent (95%) Tax lncrement Until The Earlier Of March 31,2044, Or The Date Agency lndebtedness ls No Longer
Outstanding; Further Approving And Authorizing The Mayor And City Clerk To Execute A Third Amendment, By And Among Miami-Dade County
(County), The City, And The Miami Beach Redvelopment Agency (RDA), To The November 16, 1993 lnterlocal Coopeiation Agreement, Ai
Amended (The lnterlocal Agreement), Related To The City Center RDA And By Which The County Originally Delegated To The City Certain
RedevelopmentPowersConferred ToTheCountyUnderPartlii,Chapterl63,FloridaStatutes(fheCommunityRedevelopmentAgreementActOf
1969" OrThe "Act");And Which Amendment, Among OtherTerms, Extends The Term Of The City Center RDAAs Provided ln TheAforestated Plan
Amendment.
rade The Convention Center Jo Be Smart, Modern, Energy Efficient And Which Fits Local Context, lnclud
Supporting Data (Surveys, Environmental Scan, etc.): The 2014 Community Satisfaction Survey reported that over half of businesse<S0,t l
claimed that the Miami Beach Convention Center added to the success of their business. Six in ten businesses (61%) support improvements of at
least $300 million for the Miami Beach Convention Center.
onJanuary26,1993'Miami-DadeCounty(the..County,,)adoptedResolutionNo.R-14.93,whichamongotnertnings(i)f@
Miami Beach (the "City") bounded on the East by the Atlantic Ocean, on the North by 24lh Street, on the West by WestAvenue, and on the South by
14th Lane (the "City Center Redevelopment Area" or "Redevelopment Area") to be a "blighted area" within the meaning of Part lll of Chapter 163,
Florida Statutes, and (ii) delegated to the City of Miami Beach, pursuant to Section 163.410, Florida Statutes, certain powers conferred upon the
County Commission as the governing body of Dade County by Part lll of Chapterl63, Florida Statutes, with regard to the Redevelopment Area, so
that the City Commission, either directly orthrough its duly designated community redevelopment agency, could exercise such powers. On February
3, 1993, the City adopted Resolution No. 93-20709, which established a community redevelopment agency (the "Miami Beach Redevelopment
Agelcy"orthe"Agency"),anddeclaredthemembersoftheCityCommissionasthemembersoftheAgency. Subsequently,onFebruary12:1993,
the City adopted Resolution No. 93-20721, which adopted the Agency's City Center/Historic Convention Village Redevelopment and Revitalization
Area plan (the "Plan") for the redevelopment and revitalization of the Redevelopment Area.
County and City Administrations negotiated and conceptually (in pertinent part) agreed to the following items pertaining to the RDA:(i) amend the Plan; and(iD amend the lnterlocal Agreement to, among other things, extend the life of the Redevelopment Area to March 31 ,2044; and(iii) authorizes the issuance of tax increment revenue bonds in one or more series by the RDA in an amount not to exceed $430,000,000 for
purposes of refunding current outstanding debt, funding eligible community redevelopment project costs, including the Miami Beach
Convention Center (Convention Center) renovation, and any reserves and costs of issuance;(iv) provide for an ongoing adequate operating and maintenance subsidy for the Miami Beach Convention Center, in addition to the existing
$4.5 million per year and annual year-end revenue sharing that the City currently receives from Convention Development Taxes through
2048;(v) provide for ongoing funding of City operations in the RDA;(vi) establishes that from FY 2014-15 through FY 2021-22, any funding not used for debt service and operating expenses will go into a fund to
be used for shortfalls and eventually prepayment of debt;(vii) establishes that from FY 2022-23 until FY 2043-44, the County will receive a refund of City Center Agency operating expenses based on its
proportion of revenues contributed to the Trust Fund; and(viii) any remaining funding will be used to extinguish debt early.
The City Commission, pursuant to Resolution No.2014-28644 adopted on June 27,2014, approved a Memorandum of lntent (the "MOl"),
memorializing the aforementioned. The County Mayor has committed to promote and recommend the components of the MOl, subjectto final legal
review by the County approval and approval by the Board of County Commissioners. The MOI provides that the conceptual terms and conditions
contained therein, including the preceding terms, are subject to further actions and approvals to be taken, respectively, by the Board, the City
Commission, and the Agency. Accordingly, in furtherance of same, the County, City, and the Agency desire to further amend the lnterlocal
Agreement. TheCityCommission,atitsOctober29,2014meeting,adoptedamendmentstotheTrustFundOrdinancewhichextendedtheperiodof
fundino of the Trust Fund.
Financial lnformation:
Source of Funds:
OBPI
Amount Account
1
Total
Financial lmpact Summary: See above summary.
t0
u-t?-ltlE MIAMIBEACH 1015
r915 .2015
Cify of Miomi Beoch, '1700 Convention Center Drive, Miomi Beoch, Florido 33,l39, www.miomibeochfl.gov
REDEVELOPMENT AGEN Y MEMORANDUM
TO: Chairperson and Members of the Miami Agency
FROM: Jimmy L. Morales, Executive Director
DATE: November 19,2014
SUBJECT: A RESOLUTION OF THE CHAIRMAN EruO MEMBERS OF THE MIAMT
BEACH REDEVELOPMENT AGENCY, RECOMMENDING APPROVAL BY
THE MAYOR AND GITY COMMISSION OF THE CITY OF MIAMI BEACH,
FLORIDA, AMENDMENTS TO THE MIAMI BEACH GIry GENTER/HISTORIC
CONVENTION VILLAGE REDEVELOPMENT AND REVITALIZATION AREA
PLAN (C!TY CENTER RDA), AN APPROVED REDEVELOPMENT PLAN
UNDER THE PROVISIONS OF SECTION 163.360, FLORIDA STATUTES
(THE PLAN); SAID AMENDMENTS: (A) INCORPORATING THE clffS
PROPOSED CONVENTION CENTER RENOVATION AND EXPANSTON
PROJECT; AND (B) PROVIDING FOR AN EXTENSION OF THE CITY
GENTER RDA AT A NTNETY FIVE PERGENT (95%) TAX INCREMENT
UNTIL THE EARLIER OF MARCH 31, 2044, OR THE DATE AGENCY
INDEBTEDNESS IS NO LONGER OUTSTANDING; FURTHER APPROVING
AND AUTHORIZING THE MAYOR AND GITY CLERK TO EXECUTE A
THIRD AMENDMENT, By AND AMONG M|AMI-DADE COUNTY (COUNTY),
THE C!TY, AND THE MIAM! BEACH REDVELOPMENT AGENCY (RDA), TO
THE NOVEMBER 16, 1993 INTERLOCAL COOPERATION AGREEMENT,
AS AMENDED (THE INTERLOGAL AGREEMENT), RELATED TO THE CITY
CENTER RDA AND BY WHICH THE COUNTY ORIGINALLY DELEGATED
TO THE CITY CERTAIN REDEVELOPMENT POWERS CONFERRED TO
THE COUNTY UNDER PART ilt, CHAPTER 163, FLORTDA STATUTES (THE
COMMUNITY REDEVELOPMENT AGREEMENT ACT OF 1969" OR THE..ACT,,); AND WHICH AMENDMENT, AMONG OTHER TERMS, EXTENDS
THE TERM OF THE CIry CENTER RDA AS PROVIDED IN THE
AFORESTATED PLAN AMENDMENT.
ADMINISTRATION RECOMM ENDATION
Adopt the Resolution.
BACKGROUND
On January 26, 1993, Miami-Dade County (the "County") adopted Resolution No. R-14-
93, which among other things (i) found the area in the City of Miami Beach (the "City")
bounded on the East by the Atlantic Ocean, on the North by 24th Street, on the West by
West Avenue, and on the South by 14th Lane (the "City Center Redevelopment Area" or
"Redevelopment Area") to be a "blighted area" within the meaning of Part lll of Chapter
163, Florida Statutes, and (ii) delegated to the City of Miami Beach, pursuant to Section
163.410, Florida Statutes, certain powers conferred upon the County Commission as the
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Redevelop me nt Age ncy Me mora nd u m
Redevelopment Plan and lnterlocal Amendment
November 19,2014
Page 2 of 5
governing body of Dade County by Part lll of Chapter 163, Florida Statutes, with regard
to the Redevelopment Area, so that the City Commission, either directly or through its
duly designated community redevelopment agency, could exercise such powers.
On February 3, 1993, the City adopted Resolution No. 93-20709, which established a
community redevelopment agency (the "Miami Beach Redevelopment Agency" or the
"Agency"), and declared the members of the City Commission as the members of the
Agency. Subsequently, on February 12, 1993, the City adopted Resolution No. 93-
20721, which adopted the Agency's City Center/Historic Convention Village
Redevelopment and Revitalization Area plan (the "Plan") for the redevelopment and
revitalization of the Redevelopment Area.
On February 24, 1993, the City enacted Ordinance 93-2836, which created a City
Center/Historic Convention Village Redevelopment and Revitalization Trust Fund (the
"Fund" or "Trust Fund") and provided a funding mechanism for implementing the Plan.
The County, on March 30, 1993, adopted Resolution No. R-317-93, which among other
things (i) adopted the Plan, and (ii) approved the lnterlocal Cooperation Agreement,
between the County and the City, dated and executed on November 16, 1993 (as
amended, the "CRA lnterlocal Agreement").
The County and the City then approved and entered into the lnterlocal Cooperation
Agreement, executed on November 16, 1993 (as amended by the First Amendment
(defined below) and by the Second Amendment (defined below), the "lnterlocal
Agreement"), by which the County delegated to the City certain redevelopment powers
granted by the Act, including but not limited to the creation of the Redevelopment Area
and implementation of the Plan. The County and the City adopted Resolution No. R-
889-03 and Resolution No. 2003-2537, respectively, approving an amendment to the
Plan to incorporate the development and implementation of community policing
initiatives. The Board, through Resolution No. R-889-03, and the City Commission,
through Resolution No. 2003-25241, also approved an amendment to the lnterlocal
Agreement ("First Amendment") to delegate to the City the power to implement the
community policing initiatives.
The Board, through Resolution No. R-958-05, and the City Commission, through
Resolution No. 2004-25560, also approved a second amendment to the lnterlocal
Agreement ("Second Amendment") whereby (i) the County, City, and Agency agreed
that the Agency would remit one and one-half percent (1.5o/o) of the Tax lncrement
Revenue paid to the Agency for said fiscal year to the County to defray administrative
costs for oversight and processing Agency related items, after debt service and all other
obligations related to the bonds or future indebtedness issued by the Agency and
approved by the County was satisfied for the fiscal year, and (ii) the County approved
the Agency's issuance of refunding bonds in an amount not to exceed a principal
amount of $101,090,000.00 to refinance all or a portion of the outstanding principal
amount of bonds issued with respect to the Redevelopment Area.
Section 163.361 , Florida Statutes, provides that the "governing body" of the
Redevelopment Agency may amend the Redevelopment Plan from time to time, upon
recommendation of the Agency.
The 332-acre City Center/Historic Convention Village Redevelopment and Revitalization
Area (City Center RDA) was established in 1993, in order to provide the funding
1017
Red evelop me nt Agency Me morand u m
Redevelopment Plan and lnterlocal Amendment
November 19,2014
Page 3 of 5
mechanism to foster the development of new convention hotel development within
proximity of the Miami Beach Convention Center and to establish the necessary linkages
between the City's many core area civic, cultural and entertainment uses in order to
create the fabric of a true urban downtown.
Since its success in attracting two convention-quality hotels, the Redevelopment Agency
has been focusing its efforts on a number of initiatives including enhanced innovative
community policing and upgrading the area's infrastructure, alleviating traffic and parking
congestion and encouraging the production and presentation of arts and cultural
activities in the area. ln 2003, the Redevelopment Agency amended its Redevelopment
Plan for City Center to specifically address these objectives in the context of the New
World Symphony's expansion plans involving the 17th Street surface lots and the
resulting impact to the Convention Center and neighboring businesses in addition to new
or enhanced policing initiatives in the area.
County and City Administrations negotiated and conceptually (in pertinent part) agreed
to the following items pertaining to the RDA:(i) amend the Plan; and(ii) amend the lnterlocal Agreement to, among other things, extend
the life of the Redevelopment Area to March 31,2044; and(iii) authorize the issuance of tax increment revenue bonds in one or
more series by the RDA in an amount not to exceed $430,000,000
for purposes of refunding current outstanding debt, funding eligible
community redevelopment project costs, including the Miami
Beach Convention Center (Convention Center) renovation, and
any reserves and costs of issuance;(iv) provide for an ongoing adequate operating and maintenance
subsidy for the Miami Beach Convention Center, in addition to the
existing $+.S million per year and annual year-end revenue
sharing that the City currently receives from Convention
Development Taxes through 2048;
(vii)
(viii)
provide for ongoing funding of City operations in the RDA;
establish that from FY 2014-15 through FY 2021-22, any funding
not used for debt service and operating expenses will go into a
fund to be used for shortfalls and eventually prepayment of debt;
establish that from FY 2022-23 until FY 2043-44, the County will
receive a refund of City Center Agency operating expenses based
on its proportion of revenues contributed to the Trust Fund; and
provide that any remaining funding will be used to extinguish debt
early.
The City Commission, pursuant to Resolution No. 2014-28644 adopted on June 27,
2014, approved a Memorandum of lntent (the "MOl"), memorializing the foregoing, the
terms of which were endorsed by the County Mayor, subject to final legal review by the
County and approval by the Board of County Commissioners.
The MOI provides that the conceptual terms and conditions contained therein, including
the preceding terms, are subject to further actions and approvals to be taken,
respectively, by the Board, the City Commission, and the Agency. Accordingly, in
furtherance of same, the County, City, and the Agency desire to further amend the
lnterlocal Agreement.
(v)
(vi)
1018
Red evelop me nt Agency Me morand u m
Redevelopment Plan and lnterlocal Amendment
November 19,2014
Page 4 of 5
The City and the Agency have prepared an amendment to the Plan (the "Plan
Amendment"), to incorporate (1) the Miami Beach Convention Center Renovation and
Expansion Project, including all necessary improvements to and expansion of the
Convention Center and surrounding area (the "Project"); (2) the financing of the Project,
including the funding of operating and maintenance costs thereof; and (3) extend the
time certain for completing all redevelopment projects financed by increment revenues
and retiring all outstanding indebtedness to a date no later than March 31,2044.
The Redevelopment Agency's objective over the next five years shall focus on the
planning and implementation of capital projects associated with, but not limited to the
Master Plan for the expansion of the Convention Center, upgrading streetscapes and
related infrastructure throughout City Center and parking facilities, The RDA shall also
continue to fund public service enhancements provided for under the Community
Policing Program as well as ensure the on-going maintenance of capital assets funded
with TlF. A majority of the capital enhancements set forth in the Redevelopment Plan
and the 2003 Amendment, have been completed and/or are currently underway,
including the City Center Right-of-Way improvements, the City Hall Expansion Garage,
the Collins Park improvements and the development of the 17th Street surface lots into
the New World Campus.
Redevelopment Agency (RDA) lnterlocal Agreement
Subsequently, the City and County administrations have negotiated the terms of a third
amendment to the City Center RDA (the Third Amendment), which will extend the life of
the from FY 2022-23 to FY 2043144 at the 95 percent (95%) tax increment funding level.
This allows the CRA to fund, through the issuance of CRA bonds, the additional funding
needed for construction costs of the new and expanded Convention Center and to fund
$36 million of previously approved City Center RDA capital projects, provide increased
operating and maintenance expenses for the Convention Center, as well as City Center
RDA administrative costs, community policing, and capital project maintenance within
the RDA. However, after FY 2022123, when the existing RDA would have expired, City
returns a pro-rata share of administrative costs, community policing, and capital project
maintenance to the County,
The $36 million of previously planned City Center projects include $20 million
programmed in the City's adopted Capital lmprovement Plan for the Lincoln Road
lmprovement from Washington Avenue to Lenox Avenue, which will be based on the
Lincoln Road Master Plan currently undenr''ray, $g.ZS million programmed for the second
half of the funding for the Bass Museum lnterior Expansion Project, and $12 million
programmed for lmprovements to 17th Street and Connectors to Lincoln Road. These
are all projects in the City's adopted Capital lmprovement Plan, which are not part of the
Convention Center Project.
The issuance of City Center RDA Bonds will be done through a public offering of debt.
The marketplace will dictate the debt service coverage and debt service reserve
requirements for those bonds (for a total estimated bond issuance of approximately $+00
million, including refunding of approximately $70 million of existing bonds, which will
have a direct impact on how long those bonds will be outstanding. Since the expansion
of the City Center RDA is only for the purposes of providing funding for the Convention
Center expansion, providing funding for previously approved City Center projects, and
providing an adequate additional operating and maintenance subsidy for the facility, both
1019
Redevelopment Agency Memorandu m
Redevelopment Plan and lnterlocal Amendment
November 19,2014
Page 5 of 5
the County and City administrations agree to recommend that the CRA would not need
to seek prior approval of each year's budget from the Board of County Commissioners
before borrowing money, advancing funds or incurring indebtedness. However, County
and City administrations agree that representation by one County Commissioner on the
RDA Board would be appropriate. Accordingly, the Third Amendment also includes a
provision which allows the Board of County Commissioners the right, in its sole and
absolute discretion, to appoint a member of the Agency, who shall be the Commissioner
of County Commission District 5, and such Commissioner shall be vested with the same
rights, duties and obligations as any other Agency commissioner.
Pursuant to an existing Convention Development Tax (CDT) lnterlocal agreement, the
City currently receives a flat $4.5 million per year from Convention Development Taxes
to operate and maintain the Convention Center, plus an annual year-end revenue share
based on CDT exceeding collection amounts that increase each year. The Third
Amendment will allow for an additional annual operating and maintenance subsidy
starting at $1 million in 2017 and growing to $4 million by 2021, which will then escalate
at 4 percent or Consumer Price lndex (CPl) annually (whichever is less) starting in 2026
over the life of the Convention Center, funded either through RDA funds or through
Convention Development Taxes, depending on the availability of the latter. That funding
will remain in place until2048.
Finally, once the currently existing debt is refinanced, the Third Amendment exempts the
Children's Trust, an independent taxing district, with respect to the pledging of annual
tax increment revenues attributable to The Children's Trust, to conform with the general
exemption provided to The Children's Trust in Section 2-1742 of the Miami-Dade County
Code.
Redevelopment Agency (RDA) Plan Amendment
The attached Resolution also amends the City Center/Historic Convention Village
Redevelopment Plan to include the renovation and expansion of the Convention Center
and related operating and maintenance, upgrading streetscapes and related
infrastructure throughout City Center and associated parking facilities. The Third
Amendment also extends the life of the district from FY 2022123 to March 31 , 2044. The
Third Amendment also replaces page 42 of the 2002 Plan Amendment to address the
Convention Center renovation and expansion. The plan amendments are attached for
your review as Exhibit "A."
The City Commission, at its October 29, 2014 meeting, adopted amendments to the
Trust Fund Ordinance which extended the period of funding of the Trust Fund.
Convention Development Tax (CDT) lnterlocal Agreement
An amendment to the Convention Development Tax (CDT) lnterlocal Agreement
consistent with the terms of the negotiated MOI is a separate item on this agenda.
CONCLUSION
As such, the Administration recommends adopting the Amendment to the City Center
Redevelopment Plan and lnterlocal Agreement.
JLM/KGB/MS
Attachment
T:\AGENDA\2014\November\TCED\RDA\RDA Plan and lnterlocal Amendment memo.doc
1020
RESOLUTION NO.
A RESOLUTION OF THE CHAIRMAN AND MEMBERS OF THE MTAMI
BEACH REDEVELOPMENT AGENCY, RECOMMENDING APPROVAL
BY THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI
BEAGH, FLORIDA, FOLLOWING A DULY NOTICED PUBLIC HEARING
PURSUANT TO SECTION 163.361(2), FLORTDA STATUTES,
AMENDMENTS TO THE MIAMI BEACH CITY CENTERYHISTORIC
CONVENTION VILLAGE REDEVELOPMENT AND REVITALIZATION
AREA (CITY CENTER RDA) PLAN, AN APPROVED REDEVELOPMENT
PLAN UNDER THE PROVISIONS OF SECTION 163.360, FLORIDA
STATUTES (THE PLAN); SAID AMENDMENTS: (A) INCORPORATING
THE CITY'S PROPOSED GONVENTION CENTER RENOVATION AND
EXPANSION PROJECT; AND (B) PROVIDING FOR AN EXTENSION OF
THE CITY CENTER RDA AT A NtNETy FIVE PERCENT (95%) TAX
INCREMENT UNTIL THE EARLIER OF MARCH 31, 2044, OR THE
DATE AGENCY INDEBTEDNESS IS NO LONGER OUTSTANDING;
FURTHER APPROVING AND AUTHORIZING THE CHAIRMAN AND
SECRETARY TO EXECUTE A THIRD AMENDMENT, BY AND AMONG
MIAM!-DADE cOUNTy (COUNTY), THE CtTy, AND THE MtAMt BEACH
REDEVELOPMENT AGENCY (RDA), TO THE NOVEMBER 16, 1993
TNTERLOCAL COOPERATTON AGREEMENT, AS AMENDED (THE
TNTERLOCAL AGREEMENT), RELATED TO THE CITY CENTER RDA
AND BY WHICH THE COUNTY ORIGINALLY DELEGATED TO THE
CITY CERTAIN REDEVELOPMENT POWERS CONFERRED TO THE
couNTy UNDER PART ilt, CHAPTER 163, FLORTDA STATUTES (THE
COMMUNITY REDEVELOPMENT AGREEMENT ACT OF 1969 OR THE
ACT); AND WHICH AMENDMENT, AMONG OTHER TERMS, EXTENDS
THE TERM OF THE CITY CENTER RDA, AS PROVIDED IN THE
AFORESTATED PLAN AMENDMENT, AND ADDS AN ADDITIONAL
MEMBER TO THE GOVERNING BOARD OF THE AGENCY, WHO
SHALL BE THE MIAMI.DADE COUNTY COMMISSIONER OF COUNTY
coMMlssloN DlsTRlcT 5, PURSUANT TO SECTTON 163.357(d) OF THE
FLORIDA STATUTES.
WHEREAS, the City of Miami Beach, Florida ("City") adopted Resolution No. 93-
20721 on February 12, 1993, and Miami-Dade County (the "County") adopted Resolution No.
R-317-93 on March 30, 1993, approving the City Center/Historic Convention Village
Redevelopment and Revitalization Plan (the "Plan") for the project area commonly called "City
Center/Historic Convention Village Redevelopment and Revitilization Area" (the "City Center
RDA" or the "Redevelopment Area"); and
WHEREAS, the City enacted Ordinance No. 93-2836 on February 24, 1993, and the
County enacted Ordinance No. 93-28 on April 27, 1993, creating a trust fund ("Fund") to fund
improvements in the Redevelopment Area; and
WHEREAS, the County and the City also approved and entered into an lnterlocal
Cooperation Agreement ("lnterlocal Agreement"), executed on November 16, 1993, by which
the County delegated to the City certain redevelopment powers granted by Part lll of Chapter
163, Florida Statutes including, but not limited to, the implementation of the Plan; and
1021
WHEREAS, the Mayor and the City Commission adopted Resolution No. 2014-28644
on June 27, 2014, approving a proposed Memorandum of lntent ("MOl"), the terms of which
were also endorsed by the County Mayor; and
WHEREAS, subject to approval of final agreements by the City Commission and the
Miami-Dade County Board of County Commissioners, the terms of the MOI memorialized the
City and County's commitment to amend the Plan; amend the lnterlocal Agreement to, among
other things, permit the Miami Beach Redevelopment Agency (the "Agency" or "RDA") to issue
bonds and extend the life of the City Center RDA; and to provide for an ongoing adequate
operating and maintenance subsidy for the Miami Beach Convention Center, in addition to the
existing $4.5 million per year that the City currently receives from Convention Development
Taxes; and
WHEREAS, the Agency recommends the proposed Plan amendment, attached and
incorporated as Exhibit "A" hereto, to (1) incorporate the Miami Beach Convention Center
Renovation and Expansion Project (the "Project"); (2) incorporate the financing of the Project,
including the funding of operating and maintenance costs therefor; and (3) extend the time
certain for completing all redevelopment projects financed by increment revenues until the
earlier of March 31, 2044 or the date Agency indebtedness is no longer outstanding; and
WHEREAS, the Agency finds that with respect to the Plan amendments:
(i) a feasible method continues to exist for the location of families who will be displaced
from the Redevelopment Area in decent, safe, and sanitary dwelling accommodations
within their means and without undue hardship to such families, as the amendments do
not contemplate displacement of residents;
(ii) the Plan continues to conform to the general plan of the County and the City as a whole;
(iii) the Plan continues to give due consideration to the utilization of community policing
innovations, and to the provision of adequate park and recreational areas and facilities
that may be desirable for neighborhood improvement, with special consideration for the
health, safety, and welfare of children residing in the general vicinity of the site covered
by the Plan;
(iv) the Plan will continue to afford maximum opportunity, consistent with the sound needs of
the City as a whole, for the rehabilitation or redevelopment of the community
redevelopment area by private enterprise; and
WHEREAS, the Agency further recommends the execution of the Third Amendment to
the lnterlocal Agreement, attached and incorporated as Exhibit "B" hereto, to, in pertinent part:
(i) authorize the Agency to issue bonds and incur debt, in an aggregate principal
amount not to exceed $430,000,000.00, secured by tax increment revenues of the
Agency to, among other purposes, fund a portion of the Project;
(ii) extend the time certain for completing all redevelopment projects financed by
increment revenues until the earlier of March 31, 2044 or the date Agency
indebtedness is no longer outstanding;
1022
(iii) provide an exemption for The Children's Trust, an independent special taxing district,
from the requirements of Section 163.387(2)(a) of the Florida Statutes, with respect
to the pledging of annual tax increment revenues attributable to The Children's Trust,
commencing on the earlier of (i) the date the Agency's bonds outstanding as of
November 1,2014 are no longer outstanding, or (ii) March 31, 2023;
(iv) add an additional member to the governing board of the RDA, who shall be the
Miami-Dade County Commissioner of County Commission District 5, pursuant to
Section 163.357(d) of the Florida Statutes, and who shall be vested with the same
rights, duties and obligations as any other Agency commissioner; and
WHEREAS, upon approval by the Agency and the City, respectively, the Plan
amendment and the Third Amendment to the lnterlocal Agreement will be transmitted to the
County, for consideration and approval by the Board of County Commissioners.
NOW, THEREFORE, BE IT DULY RESOLVED BY THE CHAIRMAN AND MEMBERS OF THE
MIAMI BEACH REDEVELOPMENT AGENCY, that the Chairman and Members recommend
approval by the Mayor and City Commission, of amendments to the Miami Beach City
Center/Historic Convention Village Redevelopment and Revitalization Area (City Center RDA)
Plan, an approved Redevelopment Plan under the provisions of Section 163.360, Florida
Statutes (the Plan); said amendments: (a) incorporating the City's proposed Convention Center
Renovation And Expansion Project; and (b) providing for an extension of the City Center RDA at
a ninety five percent (95%) tax increment until the earlier of March 31, 2044, or the date Agency
indebtedness is no longer outstanding; further approve and authorize the Chairman and
Secretary to execute a Third Amendment, by and among Miami-Dade County (County), the
City, and the Miami Beach Redevelopment Agency (RDA), to the November 16, 1993 lnterlocal
Cooperation Agreement, as amended (the lnterlocal Agreement), said Third Amendment
attached and incorporated as Exhibit "B" to this Resolution.
PASSED and ADOPTED this day of
ATTEST:
Rafael E. Granado, Secretary
2014.
Philip Levine, Chairperson
T:IAGE N DA\201 4\J uly\TCE D\RDA Plan and I nterlocal Amendment Reso.doc
APPROVED AS TO
FORM & LANGUAGE
& FOR E)(ECUTION
',*0.,1 ,=tlr(
@-mffi"rp_? Date '
1023
EXHtBtT ,,A"
,Pagc iZ oi,.thqoriginal I99] l-l..larr rs l.rorcb.r tlcletcil in its cntirct.v arrrl rcnlaccd with the tirllorrrns.
It- i--*r*ieipate4+lr.+e+iu+HrereffieHt+-e+€rtr$-i+l-ifi+fid+iy,be-g:ne+at *i,:ki*11
As public implovements spur additional plivate investrnent, inclements w'ill
grow. allo',virrg bonds to be issued in an amount uecessary to tund the
S65-6,-iS I millionfrogram-sh*reot+ll-inett*bo+r;. To raise the S(+5$:.\_L million
in honds will require a cornrnitrnent of approxirnately $6=6 25 million annually
in tax increments unlrl thc car'liel of'\'lrrrch -ll. 10.1.1. or thc drtc.\scnc)
lllfchlgdrrq'ss i-5 r1!) lql grll or[st]ndj1s.o+€r-]$-vci+r-feri+xl. The Agency will
prepare ancl adopt a resolution authorizillg the issuance ofbonds and definirrg
their terms. Such a resolution rnust tre aclopted prior to the sale olthe boncls.
The bonds shall be marketed in accorclance with statutory retluirements.
The Agency mav issue Recle','elopment Revenue Boncls for the tbllorving
purposes:
b.
To pay ibr site inrprovernents. project improvernents ancl supporting
tacilities constructecl at the Agency's expense and to pay tbr all other
experrclitures made by the Agency fbr or in conllection '"vith the
project.
With the consent of the applicable governing body. to pay all or parl of
the value ol land and the cost of the installation and construction of
any building, lacility, structure. or other improvernenr which is
publicly owned either within or ."vithout the project area to the extent
that such buildings, facilities, structures, or other irnprovements are ol
henefit to the project area.
Reimbursement to the City ol Miami Beach lor monies erpeneled or
advanced.
For arry otlrer purposes pennitted by law ancl authorizecl by the
Agency.
d.
Any bond. note or other fblm of indebteclness pledging increment revenue
shall rnature rro later than the rna.rimurn period allowecl by applicable lar.v.
102. Duration of Projects
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1025
Exhibit "B"
Third Amendment to
November 16, 1993 lnterlocal Cooperation Agreement
1026
THIRD AMENDMENT TO
THE INTERLOCAL COOPERATION AGREEMENT
This Third Amendment to the Interlocal Agreement ("Third Amendment"), made this
day of , 2014 ("Effective Date"), by and among Miami-Dade
County, a political subdivision of the State of Florida (hereinafter referred to as the "County"),
the City of Miami Beach, a municipal corporation under the laws of the State of Florida
(hereinafter referred to as the "City''), and the Miami Beach Redevelopment Agency, a public
agency and body corporate created pursuant to Section 163.356, Florida Statutes (hereinafter
referred to as the "Agency").
WHEREAS, the Miami-Dade County Board of County Commissioners (the "Board")
adopted Resolution No. R-317-93 on March 30, 1993, approving, among other things, the City
Center/Historic Convention Village Redevelopment and Revitalization Plan (the "Plan") and
delegated certain powers conferred on the Board by Part III, Chapter 163, Florida Statutes (the
"Act"), to implement the Plan to the Mayor and City Commission of the City of Miami Beach
(the "City Commission"), all for the project area commonly called "City Center/Historic
Convention Village Redevelopment and Revitalization Area" (such Area previously referred to
in the Interlocal Agreement described below, as the "Project" and herein referred to as the
"Redevelopment Area").; and
WHEREAS, the Board also enacted Ordinance No. 93-28 on April 27,1993, which
among other things, established a trust fund ("Fund" or "Trust Fund") to fund improvements in
the Redevelopment Area; and
WHEREAS, the County and the City also approved and entered into the Interlocal
Cooperation Agreement, executed on November 16,1993 (as amended by the First Amendment
4299801t2tMtAMt
1027
(defined below) and by the Second Amendment (defined below), the "Interlocal Agreement"), by
which the County delegated to the City certain redevelopment powers granted by the Act,
including but not limited to the creation of the Redevelopment Area and implementation of the
Plan; and
WHEREAS, the County and the City adopted Resolution No. R-889-03 and Resolution
No. 2003-2537, respectively, approving an amendment to the Plan to incorporate the
development and implementation of community policing initiatives; and
WHEREAS, the Board, through Resolution No. R-889-03, and the City Commission,
through Resolution No. 2003-25241, also approved an amendment to the Interlocal Agreement
("First Amendment") to delegate to the City the power to implement the community policing
initiatives; and
WHEREAS, the Board, through Resolution No. R-958-05, and the City Commission,
through Resolution No. 2004-25560, also approved a second amendment to the Interlocal
Agreement ("Second Amendment") whereby (i) the County, City, and Agency agreed that the
Agency would remit one and one-half percent (1.5%) of the Tax Increment Revenue paid to the
Agency for said fiscal year to the County to defray administrative costs for oversight and
processing Agency related items, after debt service and all other obligations related to the bonds
or future indebtedness issued by the Agency and approved by the County was satisfied for the
fiscal year, and (ii) the County approved the Agency's issuance of refunding bonds in an amount
not to exceed a principal amount of $101,090,000.00 to refinance all or a portion of the
outstanding principal amount of bonds issued with respect to the Redevelopment Area; and
WHEREAS, the County, City and Agency also desire to amend the Convention
Development Tax ("CDT") Interlocal Agreement from 1996, as amended (the "1996 CDT
1028
Interlocal Agreement") to, among other things, allow for the use of CDT revenues to pay for the
operations and maintenance and debt service for the Convention Center Project (as such project
is hereinafter defined); and
NOW, THEREFORE, for and in consideration of the premises and the mutual
covenants recorded herein, the County, the City and the Agency agree as follows:
A. The recitations set forth above are true and correct and adopted as part of this
Third Amendment.
B. Paragraph III "City Responsibilities," subparagraph C, "Project Financing," sub-
subparagraph 3, of the Interlocal Agreement is hereby amended to read as follows:
3. The City shall prepare and submit for County approval at the beginning of
each County fiscal year the Project budget in a format approved by the County.
The Board waives Section 3 of County Resolution No. R-871-11 requiring the
Agency to submit timely budgets for approval by the Board prior to the Agency
borrowing money, advancing funds or incurring indebtedness proposed to be
repaid from or secured by the Agency's Tax lncrement Revenues.
C. Paragraph III "City Responsibilities", subparagraph C, "Project Financing," of the
Interlocal Agreement is hereby amended to add the following sub-subparagraphs 6,7 and 8,
respectively:
6. The Board has approved and authorized pursuant to
Resolution No. _, adopted on _, the issuance
by the Agency of bonds pledging Tax Increment Revenue from
time to time, in an aggregate principal amount not to exceed $430
million, and maturing not later than March 31, 2044, in one or
more series (without regard to the year(s) of issuance, the "2015
Bonds"), which will provide funds for the following purposes only:
a. the amount necessary to refund the outstanding Tax
Increment Revenue Bonds, Taxable Series 19984, Taxable Series
20054 and Series 20058 (collectively, the "Outstanding Bonds");
b. approximately $275 million to fund a portion of the
design, development and construction of the Convention Center
1029
project, (which project is currently estimated to cost a total of $582
million and is more fully described in Exhibit "A', attached hereto
and incorporated herein by this reference (the "Convention Center
Project");
c. approximately $36 million for the ancillary
Redevelopment Area capital projects, which are more fully
described in Exhibit "B," attached hereto and incorporated herein
by this reference; and
d. All costs of issuance and debt service reserves
associated with the 2015 Bonds.
7. The parties agree that any Tax Increment Revenue shall be
used in accordance with this Agreement. Any Tax Increment
Revenue not used in accordance with this Agreement shall be
refunded by the Agency to the taxing authorities in the same
percentage as it was contributed, but solely from available Tax
Increment Revenues after satisfying all obligations on, or related
to, Agency Indebtedness (as hereinafter defined).
8. In addition to the 2015 Bonds, the City also plans to issue
City of Miami Beach Resort Tax Revenue Bonds and Parking
Revenue Bonds to complete the financing required for the
Convention Center Proj ect.
D.Paragraph V, "Board Approval," of the Interlocal Agreement is hereby amended
to read as follows:
Any approval required by the Board as to the annual budget,
amendments to the Plan, or amount, duration and purpose of
bonds, notes or other indebtedness for the Redevelopment Area
shall not be unreasonably withheld, conditioned, or delayed, or
adversely affect any matters previously approved either in a
previous annual budget or pursuant to any previously approved
bond, note or other form of indebtedness pledging or obligating
Tax Increment Revenues.
E. The Interlocal Agreement is amended to add the following Paragraph:
1030
F.
V[. Extension of Taxing Authorities' Payments.
Except as specifically set forth herein, the obligation of each taxing
authority to deposit into the Trust Fund pursuant to the Act solely
for the uses authoized in the Amended Plan and this Interlocal
Agreement is extended until the earlier of March 3I,2044, or the
date Agency Indebtedness (as defined below) is no longer
outstanding.
The Interlocal Agreement is amended to add the following Paragraph:
IX. Tax Increment District Extension
The City and Agency represent that as of the Effective Date the
only indebtedness pledging Tax Increment Revenues that remains
outstanding are the Outstanding Bonds. The City and the Agency
covenant and agree that the City or Agency, as the case may be,
shall not issue any additional indebtedness, other than the 2015
Bonds, pledging Tax Increment Revenue unless and until such
indebtedness has been authoized by the Board. The Outstanding
Bonds, the 2015 Bonds and any additional indebtedness pledging
Tax Increment Revenues authorized by the Board are collectively
referred to in this Agreement and defined as the "Agency
Indebtedness." The Agency, within ten (10) days after the
maturity and payment or defeasance of all Agency Indebtedness,
shall give written notice to the taxing authorities that all Agency
Indebtedness has been defeased or has matured and been paid (the
"Defeasance Notice"). The terms "defeasance" or "defeased," as
used in this Agreement with respect to Agency Indebtedness, shall
mean the legal release of the lien on the Tax Increment Revenues
through the establishment of an irrevocable escrow in an amount
sufficient to pay, when due, the Agency Indebtedness being
refunded. The City, Agency and the County agree that the taxing
authorities' obligation to contribute to the Fund will cease as of the
date of the Defeasance Notice. The Agency shall distribute all
revenues remaining in the Fund at that time only as provided and
in the order of priority set forth in Paragraph XII of this Interlocal
Agreement to the extent any of the required distributions set forth
in such section remain unpaid for such fiscal year, with any
revenues that remain after payment of all such amounts to be
distributed to each taxing authority in the proportion that the
amount of contribution by such taxing authority bears to the total
amount contributed by all taxing authorities for that fiscal year.
The Agency shall remit such revenues to the taxing authorities no
later than thiny (30) days from the date of the Defeasance Notice.
The parties agree that upon final distribution of all revenues in the
Fund, the Redevelopment Area and tax increment district shall be
1031
G.
deemed terminated and the Agency will sunset and cease to exist
as of such date.
The Interlocal Agreement is amended to add the following Paragraph:
X. Miami-Dade County or Other Taxing Authority
Representation
As required in Section I of County Resolution No. R-1382-09 and
Section 2 of County Resolution R-871-11, and as provided in
Section 163.357(1)(d) of the Florida Statutes, the Board shall have
the right, in its sole and absolute discretion, to appoint a member of
the Agency, who shall be the Commissioner of County
Commission District 5, and such Commissioner shall be vested
with the same rights, duties and obligations as any other Agency
commissioner. Said membership on the Agency's board of
commissioners shall be considered an additional duty of office as
prescribed by Section 163.357(l)(d) of the Florida Statutes.
Such appointment by the Board shall be immediate and will
become part of the Agency's board of commissioners without
further action from the Agency required.
The Interlocal Agreement is amended to add the following Paragraph:H.
1032
XI. The Children's Trust Exemption
The County, the City and the Agency agree that pursuant to
Section 2-1742 of the Code of Miami-Dade County, The
Children's Trust, an independent special taxing district, shall be
exempt from the provisions of Section 163.387(2)(a) of the Florida
Statutes, commencing the earlier of March 31, 2023, or the date
that the Outstanding Bonds are defeased or mature and are paid. If
required, the parties further agree to negotiate and execute an
amended interlocal agreement with The Children's Trust to codify
the terms and condition of such exemption.
Annual Tax Increment Revenues attributable to The Children's
Trust shall not be pledged by the Agency toward the repayment of
the 2015 Bonds or any new indebtedness pledging Tax Increment
Revenues approved by the Board. Until such time as The
Children's Trust is exempt from the provisions of
Sectionl63 .387(2)(a) of the Florida Statutes, the provisions of the
Interlocal Agreement among the City, Agency and County as
adopted by the Board on July 27,2004 (Resolution No. R-973-04),
as fully described in Exhibit C, apply to the distribution of the Tax
Increment Revenues attributable to The Children's Trust.
The Interlocal Agreement is amended to add the following Paragraph
XII. Distribution of Trust Fund Revenues
A11 Tax Increment Revenues shall be deposited in the Trust Fund
as required by law, and the parties agree that all funds in the Fund
shall be distributed annually, only as provided and in the order of
priority as set forth below:
A. Beginning Fiscal Year 2014-15, to pay the first $500,000 in
current expenses and debt service, reserve deposits and
other costs and obligations associated with the Outstanding
Bonds until such time as the Outstanding Bonds have been
refunded or are no longer outstanding.
B. Beginning Fiscal Year 2014-15, to remit to The Children's
Trust the legally available portion of Tax Increment
Revenues attributable to The Children's Trust until
exemption, or until such time as the Outstanding Bonds
have been refunded or are no longer outstanding.
C. Beginning Fiscal Year 2014-15, to pay debt service, reserve
deposits and other costs and obligations associated with the 2015 Bonds
and any other Agency Indebtedness.
1033
D.In addition to the annual funding that the City currently
receives from Convention Development Taxes, pursuant to
Section II.A.1 of the 1996 CDT lnterlocal Agreement,
beginning in FY 2017-18, and ending the earlier of the
termination or expiration of the taxing authorities'
obligation to appropriate Tax Lrcrement Revenues to the
Fund, or the date that the Convention Center is no longer in
operation as a publicly owned convention center, the
Agency shall remit to the City a Convention Center
operating and maintenance subsidy in the annual amounts
for such years set forth below. For FY 2017-18, the amount
of the annual subsidy is equal to $1 million. This amount
will increase by $750,000 each fiscal year thereafter until it
equals $4 million in FY 2021-22. For FY 2022-23, through
and including FY 2024-25, the annual subsidy will remain
equal to $4 million. Beginning FY 2025-26, and ending the
earlier of the termination or expiration of the taxing
authorities' obligation to appropriate the Tax Increment
Revenues to the Fund or the date that the Convention
Center is no longer in operation as a publicly owned
convention center, the annual subsidy shall equal the prior
fiscal year's annual subsidy adjusted by the lesser of the
Miami Urban Area CPI to be calculated using the Miami
Fort Lauderdale All Urban Consumers CPI from July to
June for the prior year or 4 percent annually. The City and
the Agency agree that such funds shall only be used to fund
operating and maintenance costs of the Convention Center.
Notwithstanding and prevailing over any provision to the
contrary herein, if the County grants CDT funds to the
Agency or the City pursuant to Section II.A.3 of the CDT
Interlocal for the purpose of funding Convention Center
operating and maintenance costs such amount referred to as
(the "CDT Grant"), the annual subsidy payrnent to be
funded with increment revenues pursuant to the prior
paragraph shall be reduced by an amount equal to the CDT
Grant.
Beginning FY 2023-24, and until the earlier of March 31,
2044, or the termination or expiration of the taxing
authorities' obligation to appropriate the Tax Increment
Revenues to the Fund, the Agency agrees to grant to the
County an amount equal to the County's proportionate
share of the total payments expended by the Agency in the
prior fiscal year for Administration, Community Policing,
E.
1034
F.
and Capital Project Maintenance (defined below). Such
grant shall be paid to the County by March 31 of each year
and shall be based on the previous year's expenses for
Administration, Community Policing, and Capital Project
Maintenance. The amount granted annually shall be
calculated as follows:
The County's share of total Tax Increment Revenues
deposited into the Trust Fund for that particular year
divided by the total Tax Increment Revenues collected
from all taxing authorities and deposited in the Trust Fund
for that particular year, multiplied by the amount of
expenses paid by the Agency in the previous fiscal year for
Administration, Community Policing and Capital Project
Maintenance.
Beginning in FY 2014-15, and ending on the earlier of
termination or expiration of the taxing authorities'
obligation to appropriate Tax Increment Revenue to the
Fund, Tax Increment Revenues shall fund the Agency's
expenses for Administration, Community Policing, and
Capital Project Maintenance, defined to include only those
categories listed in the Agency's FY 2013-14 adopted
budget approved by the Board pursuant to County
Resolution No. R-512-14, a copy of which is attached
hereto as Exhibit D and is incorporated herein by this
reference. For fiscal year 2014-15, the use of Tax
Increment Revenues for such expenses shall not exceed
$ll.72l million which has been adjusted for CPI as defined
below, of which $ll.25t Million is the aggregate amount
budgeted for these items, as referenced in Exhibit D plus an
additional $200,000 for Capital Project Maintenance
(which shall not be used for maintenance of the
Pennsylvania Avenue Shops and Garage). Beginning fiscal
year 2015-16, the use of Tax lncrement Revenues to fund
the Agency's expenses for Administration, Community
Policing, and Capital Project Maintenance shall not exceed
the prior fiscal year's distribution for such expenses of
$Il.72l million, adjusted by the lesser of the Miami Urban
Area CPI or 3 percent annually to be calculated using the
Miami Fort Lauderdale All Urban Consumers CPI from
July to June for the prior year. Additionally the Agency
will pay the County an administrative fee based on 1.5
percent of the County's Tax lncrement Revenue
contribution in that year. The Agency will also pay the City
1035
G.
H.
1.5 percent of the City's Tax Increment Revenue
contribution in that year.
In FY 2014-15 and FY 2015-16, respectively the Agency
will reimburse the City for the Bass Museum and Lincoln
Road prior project costs of $1,288,032.62 in FY 2014-15,
and $1,286,464.26 in FY 2015-16.
Beginning FY 2014-15 and ending on the earlier of March
31, 2023, or the termination or expiration of the taxing
authorities' obligation to appropriate Tax Increment
Revenue to the Trust Fund, the Agency shall, within ninety
(90) days from the conclusion of each fiscal year, deposit
any unencumbered amounts on deposit in the Trust Fund
and all available revenues remaining after distribution of
Tax Increment Revenues in the order, priority and amounts
set forth in Sections A through G above, into a fund to be
used for the purposes of financing any shortfalls associated
with the payment of the expenses as listed in Section F
above. Such deposits to such fund shall only be made if it
will not negatively affect the exclusion from gross income,
for federal income tax purposes, of interest on any tax-
exempt Agency Indebtedness. All other remaining
revenues will be used to extinguish Agency Indebtedness
early, but not prior to FY 2023-24, to the extent such
Agency Indebtedness is subject to prepayment or
redemption prior to mafurity at such time or, if such
Agency Indebtedness is not then subject to prepayment or
redemption prior to maturity, to establish an escrow for the
prepayment or redemption prior to maturity of such Agency
Indebtedness at such time as the Agency Indebtedness is
subject to prepayment or redemption prior to maturity;
provided, however, that such escrow shall only be
established if it will not negatively affect the exclusion
from gross income, for federal tax purposes, of interest on
any such tax-exempt Agency Indebtedness. The City and
the Agency agree not to issue Capital Appreciation Bonds
or similar debt that does not pay interest on a current basis.
The City and the Agency also agree that any Agency
Indebtedness pledging Tax Increment Revenues issued for
the purposes set forth herein shall include a call provision
allowing such Agency Indebtedness to be called no later
l0
1036
than ten (10) years after initial issuance. If the Agency
Indebtedness is not subject to repayment or redemption
prior to maturity, and an escrow cannot be established, then
the Agency shall distribute annually any revenues
remaining on deposit in the Fund after distribution as set
forth in Sections A through G above, to the taxing
authorities in the proportionate manner as it was deposited.
Beginning FY 2023-24, and ending on the earlier of March
31, 2044, or the termination or expiration of the taxing
authorities' obligation to appropriate Tax Increment
Revenues to the Fund, the Agency shall, within ninety (90)
days from the conclusion of each fiscal year, use any
unencumbered amounts on deposit in the Trust Fund and
all available revenues remaining after distribution of Tax
Increment Revenues in the order, priority and amounts set
forth in Sections A through G above to extinguish Agency
Indebtedness early, to the extent such Agency Indebtedness
is subject to prepayment or redemption prior to maturity at
such time or, if such Agency Indebtedness is not then
subject to prepayment or redemption prior to maturity, to
establish an escrow for the prepayment or redemption prior
to maturity of such Agency Indebtedness, at such time as
the Agency Indebtedness is subject to prepayment or
redemption prior to maturity; provided, however, that such
escrow shall only be established if it will not negatively
affect the exclusion from gross income, for federal tax
pufposes, of interest on any such tax-exempt Agency
Indebtedness. The City and the Agency agree not to issue
Capital Appreciation Bonds or similar debt that does not
pay interest on a current basis. The City and the Agency
also agree that any Agency Indebtedness pledging Tax
Increment Revenues issued for the purposes set forth herein
shall include a call provision allowing such Agency
Indebtedness to be called no later than ten (10) years after
initial issuance. If the Agency Indebtedness is not subject
to prepayment or redemption prior to maturity, and an
escrow cannot be established, then the Agency shall
distribute annually any Tax Increment Revenues remaining
on deposit in the Fund after distribution as set forth in
ll
1037
Sections A through G above to the taxing authorities in the
proportionate manner as it was deposited.
J. The Interlocal Agreement is amended to add the following Paragraphs:
XIV. Inspector General Review
A. Independent Private Inspector General Reviews
Pursuant to Miami-Dade County Administrative Order 3-20, the County has the
right to retain the services of an Independent Private Sector Inspector General
(hereinafter "IPSIG"), whenever the County deems it appropriate to do so. Upon
written notice from the County, the Agency shall make available to the IPSIG
retained by the County, all requested records and documentation pertaining to this
Third Amendment for inspection and reproduction. The County shall be
responsible for the payment of these IPSIG services, and under no circumstance
shall the Agency incur any charges relating to these IPSIG services. The terms of
this provision herein, apply to the Agency, its officers, agents, employees,
Subcontractors and assignees. Nothing contained in this provision shall impair
any independent right of the County to conduct an audit or investigate the
operations, activities and performance of the Agency in connection with this
Third Amendment. The terms of this Article shall not impose any liability on the
County by the Agency or any third party.
B. Miami-Dade County Inspector General Review
According to Section 2-1076 of the Code of Miami-Dade County, as amended by
Ordinance No. 99-63, Miami-Dade County has established the Office of the
Inspector General which may, on a random basis, perform audits on all county
agreements, throughout the duration of said agreements, except as otherwise
provided below.
Nothing contained above shall in arry way limit the powers of the Inspector
General to perform audits on all County agreements including, but not limited to,
those agreements specifically exempted above. The Miami-Dade County
Inspector General is authorized and empowered to review past, present and
proposed County and Agency contracts, transactions, accounts, records,
agreements and programs. In addition, the Inspector General has the power to
subpoena witnesses, administer oaths, require the production of records and
monitor existing projects and programs. Monitoring of an existing project or
program may include a report concerning whether the project is on time, within
budget and in conformance with plans, specifications and applicable law. The
Inspector General is empowered to analyze the necessity of and reasonableness of
t2
1038
proposed change orders to a contract. The Inspector General is empowered to
retain the services of independent private sector inspectors general (IPSIG) to
audit, investigate, monitor, oversee, inspect and review operations, activities,
performance and procurement process, including but not limited to project design,
specifications, proposal submittals, activities of the Agency, its officers, agents
and employees, lobbyists, County staff and elected officials to ensure compliance
with contract specifications and to detect fraud and comrption.
Upon written notice to the Agency from the Inspector General or IPSIG retained
by the Inspector General, the Agency shall make all requested records and
documents available to the Inspector General or IPSIG for inspection and
copying. The Inspector General and IPSIG shall have the right to inspect and
copy all documents and records in the Agency's possession, custody or control
which, in the Inspector General's or IPSIG's sole judgment, pertain to
performance of the contract, including, but not limited to original estimate files,
change order estimate files, worksheets, proposals and agreements form and
which successful and unsuccessful Subcontractors and suppliers, all project-
related correspondence, memoranda, instructions, financial documents,
construction documents, proposal and contract documents, back-charge
documents, all documents and records which involve cash, trade or volume
discounts, insurance proceeds, rebates, or dividends received, payroll and
personnel records, and supporting documentation for the aforesaid documents and
records.
K. All provisions of the Interlocal Agreement, other than the provisions specifically
amended herein, remain in full force and effect.
[SIGNATURES APPEAR ON THE FOLLOWING PAGEI
13
1039
IN WITNESS WHEREOF, the parties have executed this Third Amendment as of the
date first written above.
CITY OF MIAMI BEACH MIAMI-DADE COUNTY
By:By:
Philip Levine
Mayor
ATTEST
By:
City Clerk
MIAMI BEACH REDEVELOPMENT
AGENCY
By:
Philip Levine
Chairman
Attest:
By:
City Clerk
Approved for form and legal sufficiency
Carlos A. Gimenez
Mayor
ATTEST
Deputy Clerk
Approved for form and legal sufficiency
By:
Assistant County Attorney
By:
t(le(,P
t4
1040
Exhibit "A"
Convention Center Project
Convention Center Renovation and Expansion
The Convention Center Project will modernize and upgrade the Convention Center facility and
surrounding area to be more competitive within the trade/consumer show and convention
industries. The project to reconstruct, construct, reconfigure, modernize and expand the
Convention Center and related/accessory facilities including the siting of private lodging facilities
near or adjacent to the facility may include, but not be limited to: redesign and reconstruction of
the convention center building and site; upgrading media, communications, and other area
technology; alterations to on and off site parking; on site and off site aesthetic improvements;
expansion/addition or reconfiguration of facilities to include a ballroom or similar amenities;
operation and maintenance of facilities for a period during and after construction, location or
relocation of other area facilities directly related to the Convention Center and/or its ability to
attract additional users.
A-l
1041
Exhibit "B"
$36 Million Ancillary Projects
City of Miami Beach
Redevelopment Agency
List of Ancillary Projects
Bass Museum lnterior Space Expansion: Renovation of Bass Museum interior to
increase programmable space by 47%
Estimated Cost: $3,750,000
Convention Center Lincoln Rd Connectors & 17th St N. lmprovement Penn Ave to
Wash: Enhance the pedestrian experience from the Convention Center complex to
Lincoln Road along Drexel Avenue, Pennsylvania Avenue and Meridian Avenue. Work
to consist of new lighting, sidewalk reconstruction, street furnishings, landscaping,
healthy tree fertilization systems, road reconstruction, cross walk enhancements.
lmprovements to 17th Street from Pennsylvania Avenue to Washington Avenue will
consist of landscaping, irrigation, pedestrian lighting and sidewalk replacement.
Estimated Cost: $1 2,000,000
Lincoln Rd / Washington Ave to Lenox Ave: Refurbishment of Lincoln Road
pedestrian mall from Washington Avenue to Lenox Avenue. Work to consist of new
lighting, refurbishing pedestrian surfaces, street furnishings, healthy tree fertilization
systems, milling and resurfacing pavement surfaces and cross walk enhancements.
Estimated Cost: $20,000,000
A-2
1042
Exhibit "C"
Children's Trust Interlocal
B-l
1043
*,
INTERIOCAL AGREEMENT
AMONG CITY OF MIAMI BEACH,
MIAN4I BEACE REDE\IELOPMENT AGENCY,
MIAMI-DADE COUNTY, FLORIDA
&
TEE CHILDREN'S TRUST,
This Interlocdl Agreement ("Agreement") is among the City of Miami Beach,
Florida, (the "Ci!/'), thc,lfigp1,,Be-aph,.RedeveJoBment Agency (the "CRA"), Miami-
Dade County, Florida (the *County'') and The Children's Trust, Miami-Dade County ("
The Trust"), an independent special taxing district, for the purpose of establishing the use
of ta:c increment reveoues to be derived from the imposition of a half mill tax lerry by
The Trust against real properfy located within the jurisdictiors of the CRA (the "Trust
Revenues"),
WHEREAS, The Tnrst was established as a result of a county-wide referendum in
which the electors of the Couaty approved the creation of The Trust and i1s imposition of
a not to exceed half mill tax levy against all non-exempt real property in Miarrri-Dade
Couuty for the purpose of funding improvements to children's health, development and
safety and promoting parental and community responsibility for children who reside in
Miami-Dade County;and
WIIEREAS, chapter 163, Part III, Florida statutes, also known as the
Community Redevelopment Act of 1969 (the "Act"), provides for the creation of
community redevelopment agencies and govems the use of moneys in the redevelopment
trust funds created in accordance with the Act (each, a "Fund,,); and
WIIEREAS, the City Commission accepted a delegation of powers from the
Miami-Dade County Board of Cornmissioners (the "Board"), found a need for and
created the CRA to have jurisdiction over all of its community redeveiopment districts,
declared members of the City Commission to be the members of the Agency, granted the
Agency the power to exercise certain powers permitted by the Act to the extent delegated
by the Board to the Agency and directed the initiation, preparation and adoption of
community redevelopment plans by the Agency for its two community redevelopment
districts known as City Center/Ilistoric Convention Village and South pointe (;'CRA
Districts"); and
WHEREAS, the CRA has various series of community
bonds currently outstanding.in the aggregate principal nmount of
(the.Bonds,,)issuedundercertainbondreso1utions(the..BondReso@owhic[
the CRA has pledged all current and future tax increment revenues the CRA is entifled. to
receive pursuant to the Act from all non-exempt taxing authorities including ta:r
increment revenues from any additional tax levies created subsequent to the issuance of
the Bonds such as The Trust Revenues; and
1044
,5
WIIEREAS, the City has piedged certrain City revenues to the holders of the
Bonds as a additional security for the Bonds; and
WIIEREAS; as an independent special taxing district. The Tnrst is elieible to
share in anv tCIr increment'revenues not budseted for a particular use and remafuling at
the end of the CRA's fiscal vear in the Fund established for each CRA community
redevelopment district and
WIIEREAS, the Board anacted Ordinance No. 03-210 (the "Ordinance") with an
effective date of October L7, 2003 that established a poiicy that before the Board will
consider auy matter conceming a community redevelopment agency, including the
approval of an annual CRA budget, a govenring body such as the Cify shall first exempt
The Tnrst pursuant to the Act from having to deposit its Trust Revenues with the
community redevelopment agency; and
WHEREAS, the City is unable to obtain review of its matters, including the CRA
budget, by the Board because it cannot comply with the Ordinance without violating the
CRA's pledges to the holders of the Bonds that requires all present and fuhre tax
increment revenues from each CRA Diskict to be available for the repalment of debt
service on the Bonds relating to such CRA District; and
WHEREAS, the City, the CRA and the County wish to assist The Trust and to
effectuate the will of the eiectorate by agreeing to remit The Trust Revenues to The Trust
pusuant.to the provisions of this Agreement; and
WHEREAS, approximately ten percent (10%) of the ad valorem tax revenue
collected in Miami'Dade County is from residents of the Crty and;
WHEREAS, The Trust collects approximateiy $6 million in ad valorem ta>r
reverues from the residents of the City which is ten percent (10%) of the ad valorem tax
revenue it collects and;
WHEREAS, there are children and families who reside in the City and are in need
of the services described in The Trust's Strategic Framework 2003-2007 and there are a
number of agencies which may provide quality services to these children and families if
provided financial assistance; and
WHEREAS, in exchange for the city's and the cRA's cooperation, The Trust
will make fuods available for children's programs within the City in the amount of The
Trust Revenues annually upon the conditions set fortb in this Agreement; and
WIIEREAS, the City, the CRA, the County and The Trust desire to enter into this
Agreement in order to establish their cooperation and.agreement with respect to tle use
of The Trust Revenues,
1045
'!
NOW TIIEREFORE, the parties agree as follows:
Section 1. The recitals above are incorporated in Section 1 of this Agreement.
Sestion 2. The City, the CRA and the Couaty agree that the CRA shall (i)
use The Trust Revenues for debt service on, ant other obligations relating to, the Bouds
under the applicable Bond Resolutions only after all other ta:i increment revenues under
the applicable Bond Resolutions have been exhausted for such puqpose; and (ii) remit to
The Trust on the last day of the CRA's fiscal year, all of the Trust Revenues that are not
needed for debt service on, and other obligations relating to, the Bonds under the
applicable Bond Resolutions and are eligible to be refunded pursuant to the Act, and the
applicable Bond Resolutions.
Section 3. The Trust will make available funds in the amount of Trust
Revenues annually for programs and services to children and far:nilies within the City,
tbrough a competitive process, to the City and/or agencies and organizations that provide
saidJrograms and services within the City. However, in order to receive funding, the
City and/or agency or organizafion must provide a program or service that falls within
The Trust's funding priorities and quality standards. The City and/or agency or
organiiation is in no way reskicted fronr participating in, and shall not be prejudiced by,
any and all other competitive funding opportunities offered by The Tmst.
Section 4. This Agreement shall be effective upon execution by all parties
and shall continue for as long as The Trust is in existence and can levy ad valorem taxes.
Section 5. This Agreement is made in the State of Florida and shall be
governed according to the laws of the State of Florida. Proper venue for this Agreement
shall be Miami-Dade County, Florida.
Section 6. Any alterations, variations, modifications, extensions or waivers of
provisions of this Agreement shall only be vaiid when they have been reduced to writing,
duly approved and signed by both parties and attached to the original of this Agreement.
Section 7. This Agreement is signed in four (4) counterparts, and each
counterpart shall constitute an original of this Agreement
Section 8. This Agreement containg all the temrs and conditions agreed upon
by the parties. No other Agreement, oral or otherwise, regarding the subjeci matter of
this Agreement shall be deemed to exist or bind any of the parties hJreto. If any
provision of this Agreement is held invalid or void, the remainder of this Agreement shall
not be af[ected thereby if such remaiader would then continue to conform to the terms
and requirements of applicable law.
3
1046
,a\
IN WITNESS WHEREOF, the parties have caused this Agreement to be executed
by their respective and duly authorized officers as of the day and year first above written.
(sEAL)
AfiEST:
ATTEST:
ftlt^,,^fl l*t r*
Secretary
ATTEST:
')u*,*
Valria C. Screen, Secretary
MIAMi-DADE COUNTY, FLORIDA
A0
f ,* Q..*nu, a
Signatr$e of AutHdrized Representative
PrintName and Title
THE CHILDREN'S TRUST, MIAMI
DADE COUNTT
U
APPROryED AS TO
FORM &ISNGUAGE
&FORE)(ECUTIOH
obert Parcher, City Clerk
CH REDEVELOPMENT AGENCY
Date
1047
Exhibit "D"
Resolution No. R-5 1 2-l 4
City Center FY 2013-14 Budget
A-2
1048
OTIrICIII,EII-E COTY
CI.E ,K OF TEE 3OT3D
or goEfirTY GouulsslosrEns
r&tuI-DIDE colrlrrT. lLonIDr
MEMORANDTIM
Agendalte4! No. 8(G) (1)' .:'
TO:
XROM: R. A. Cuevas, Jr.
County Attorney
Honorable Chairwoman Rebeca Sosa
and Members, Board of County Commissioners
DATE:June 3,2014
SUBJECT: Resolution approving Miami
Beach City Center Community
Redevelopment Agency Fiscal
Year 2013-14 budget
Resolution No. R-512-14
The accompanymg resolution was prcpared by the Office of Management and Budget and placed
onthe agenda at the request of Prime Sponsor Finance Committee.
RAC/smm
1049
Datb:
To:
From;
Subject:
fune 3,2014
Honorable' :Chalrwoman Rebeca Soga
'Bnd Members, Board 6f
CarlosA. Gimenez
Mayor
FY 2013-14 Budget forthe
Agencyl
Memorindum ffi@
Ci{y C. enter CommUnity Redevelopment
Recomnt-eJndatlgrt
It ls recommqnded that fhe Eoard .sf Counly Commissioners (Board) consi<ier approVihg the Miami
B6aeh City Center.Cornrflunity Hedeveloprnent Ageney's 1{gency's) FY 201:3-14 budget fp.r the Cily
Cente, r Com m ul lty Redeveloprnent Area (Area).
Ecoee of Aog,n,Ca. ltent
The,Area lieEwithin Cpmmission District 5, whi-ch.is reprosehted by Commission€f Bruno A. Banrelro,
Fisbal lmpact J' Futrdlnq L gtEce
The Agency's ieVenue souice is tax. increment financlng ff[fl, which. is generated through the
iricremental growth of ad valorem .revqnues beyond an establip:hed base year, 'as deflned ln Section
163,387 oJ lhe Florida State Statutes. Coutrty and Oity of Mlaml Beach (City] tax ingement.tevonueg
deposited into the trust fund for FY2013-14 total $16,918,000 and $19,840.,00Qi respectively,
.-, The Oounty'will' cbntinue t0 rnake annual paym6ntB .to the Agency, based,on eaeh respectlve yeafs
growth of ad valorern r.evenues.over th-e base year, through 2023. when the,fuency Wil[ sunset.
Track Record I Monitp![
This resolution does .not provide for contracting with any speciflc.entity. The, resoluti6n approves: the
Agenayrs FY 2013-14 budget.
-Ba'ckcirotrnd
On. January 26, 1993, the Board ,approved the establishment qf the Agenoy when It daciared the Area
tq be sium and blighted pursuant to,Reso[.ilion R-14-93. fhe Board appr.oved the Agensy'Q Community
Redevelopment Plan (Plan) and its fu-nding when it enacted Reso,lution R-31F93 and Ordinanoe 93-28,
reqpeclively, An hlgrlosal Agreemerit:arnong the Oounty, the Ot4 and the Agency and the Plan were,
approved by the Boaid on Ma'rch.30, 1:993, reQuirlng the Agency to -submit an qnnual budget for Qounty
approval.
FY 2013-.l4,BuCget
Tho Agency's, FY 2013-14,budqet ls $43 n0o,000, which was npproved by the Agency on .Seplemher
30, 2013" The budgst includos revenue sources of Oounty TIF Revenueg ($15,918,000), City TIF
Revenues ($19i840,000), Resort Tax Gontrihutions ($5,386,000), d % mill lev5r to .be 36t aside for the
Children's Trust ($1,831,000), and interest eamings ($25i000).
Administr:atiVe expenditurds for the Agency's operations, including the City,Administrative gharge for
ge.neral oversight ($283,000), total $2,244,000 and lepreqent, appr,oximately flve pereent of total
budgeted expenditures, excluding .the 1.6 percent Coun[y Administr.ative Charge ($239,000), which ls
less than the20 percentallowed in the lnterlocalAgre-ernent.
2
1050
l-fonorable Chainruoman Rebeca Sosa
and Members, Board of Gounty Commissioners
Page2
Operating oxpenditures total$39,791,000 and are broken down as follows:
. $18,443,000 for Capital ProJects including:o Collins Park Parking Garage ($12,242,000);
o Bass Museum lnterlor Space Expansion and Capital Contribution ($4,797,000);
o Euclid Avenue lmprovements at Lincoln Road ($69,000);
. City Center -Various sidewalk and street improvements Commercial District ($326,000);
. Lincoln Road Master Plan Study ($500,000);
r City Center Legal Fees ($350,000); and. Agency's Capiial Fund Balance Shortfall ($2,390,000)'
. nAOitionally, the capital project fund credit of $2,231,000 is a result of projects that were
underspent and closed out.
. $9,922,000 for debt service including:. Series 2005 Bonds and the cornbined debt service on the Parity Bonds ($8,550'000);
. Sunshine State Loan for the reconstruction/renovation of Lincoln Road ($825,000); and
. Loans for the Bass Museum Project ($547,000).
o g308,000 to Pennsylvania Avenue garage and shops to offset operational costs,
. g4,1g8,000 for community policing that lncludes len police offlcers, two sergeants, two public safety
aides, a crime analyst ,nl " part.Itime lieutenant providing comrnunity policing exclusively within the
Agency seven daYs a week.
. g5,0g5,000 for maintenance of Agency capital projects constructed wlth TIF funds (Lincoln Road,
Beachwalk Project, and Collins Park facilities).
. $1,831,000 as the Children's Trust Remittance,
The Agency's budget includes a contingency reserve of $384,000
The Agency's Fy 2012-19 expenditures created an initlal unaudited fund balance deficit of $341'237.
Therefire, it is ,."ornted for'in FY 2013-14 ($342,000). The Agency is in the process of auditing the
current fiscalyear and believes there will be no deficit.
Attachments
3
Edward
Mayor035'14
1051
MEMORAI\DUM
(Rcivised)
TO:Honorable Chairwoman Rebeca Sosa
antl Members, Boudof County Commissioners
DATE: June 3, 2014
SIIBIECT: AgendaltemNo. B(c) (t)FR'M:Bfu*
County Attonrey
Pleas'e note anyitems checked.
'3-Day Ruld' for committees applicable if raiseal
6 weeks requtretl bstween first reading and public hearlng
4weeks noffication to muuicipal ofisials required prior to puplic
headng
Decreases rwenues or inereases expenditures without balancing budget
Budgetrequirbd
Statement of flscal impact required
Ordinance creating e new board requires det':ailed County Mayorrs
report for public hearing
No commiffee rwiow
Applicable legislation requires more than a majority vote (Le,, ZB's _,
3/5's
-
unanimous _ ) to approve
Current information regarding fiDding source, inder code and available
balance' antl availablo caprcity (if debt ls contemplated) rqutred
4
1052
Approved
Veto
Override
Mavor AgendaItemNo. e(e)(r)
6-3-74
RESOLUTIONNO. R-512-14
RESOLUIION APPROYING MIAMT BEACH CITY
CENTER COMMUNITY REDEVELOPMENT
AGENCY FISCAL YEAR 2OI3-1,,4 BUDGET
WHEREAS, the Interlocal Cooperation Agreement between Miami-Dade County,
Florida (the "County"), City of Miami Beach (the 'Ci{/), and the City Center Community
Redevelopment Agenoy (the "Agenoy''), approved on March 30, 1993, requires that the City and
Agency hansmit its adopted annual budget to the Board of County Commissioners of Miami-
Dade County, Florida (the'tsoard') for approval; and
WHEREAS, the Agenoy and its oounsel have determinedthat aII expenditures associated
with the attached budget are allowable under the Redevelopment Plan, Interlocal Agreement and
Florida State Statute; and
WHEREAS, this Board desires to approvo the Agency's adopted annual budget for
Fiscal Year 2013-14, for the City Center Community Redevelopment Area (the 'tsudget'),.in the
form atirched hereto as Exhibit 1, and incorporated herein by reference; and
WffiREAS, this Board desires to aooomplish the pu{pose outlined in the accompanying
memorandum, a copy of which is incorporated herein by this reference,
NOW, TmREFIORE, BE m RESOLVED By Tm BOARD Or COUNTY
COMMISSIOI\IERS OF MHMI-IIADE COUNTY,ILORIDA, that the Board apixoves the
Agency's annual adopted budget for fiscal year 2013-14, related to the City Center Community
Redevelopment Area.
5
1053
Agenda Itern No. 8(G) (1)
PageNo.2
The foregoing resolution was offered by Commissioner tynileBell
who moved its adoption. The motionwas seconded by Commissioner JosE "Pqre" Diar
and upon being put to a vote, the vote was as follows:
Rebeca Sos4 Chairwoman
Lfmda Bell, Vice Chairabsent Esteban L. Bovo, Jr.Bruno A. Barreiro
Jose "Pepe" Diaz
SallyA. Helman
Jean Monestime
Sen. JavierD. Souto
Juan C. Tapata
Approved by County Attorney as
to form and legal sufficiency.
David Stephen Hope
aye
aye
aye
aye
absent
aye
aye
aye
aye
aye
absent
aye
Audrey M. Edmonson
Barbara J. Jordan
Dennis C. Moss
Xavier L. Suarez
The Chairperson thereupon declared the resolution duly passed and adopted this 3d day
of June, 2014. This resolution.shall become effective ten (10) days after the date of its adoption
urless vetoed by the Mayor, and if vetoe4 shall become effective only upon an override by this
Board.
MIAMI-DADE COI.]NTY, FLORIDA
BY ITS BOARD OF
COUNTY COMMISSIONERS
HARVEY RUVIN, CLERK
Ghristopher Agrippa
Deputy Clerk
dtL''
6
6X**:[ffij
1054
# MIAMIBEACH
dfy at lhlarU icothr 1700 CorryO,{ion &dler Ddvq lvlftilnl p6s4u Fh,rldo 33 13.9, wirlvotcmths .clflgw
Mlomi Beqch Redo,olopment ASency
t4t $aq 67L7577, For: 13051 673.7063
Novem6er6,2013
X/lC ,lorge M, Feniandez
Pr.ogfam Coodinato(
O,frIce of Mana0erfieh! & Budget
'111 NW { Street,22ns Floor
Miami, FL 33128
RE: City Center Redevelopme[t A.rea - -FY 2A73n4 Budget Submlttai
Dear M"r, Fgrnandee
Enciosed'iE he MlamiBeaoh RederreloprnentAgency'e Regolutioh packages,adopting
tho FY 2013114 Operating and Gapital Budgets In the Gountfs preferd fomat
together vu{th our sialus reporl The Budget was- adgpted by the RDA Board on
September 30, 20'!3, ft phbUld he noted that the most cunent year-end Finanojat
Statements, dated $eptemb6r 3A,?A1?, have already heen ftinrarded to the County
and afe also avqllable on line, The Financial Statements for 2013 will be amllable as
of Maroh 30, 2014.
F[qq$e,aavise.as to the Qountyrsohedule forreviewing and.approvlng tho enolosed
Budgefl ln'the meantime, should you have any quostions, please do not he+itate to
contac{ rne.
Sincerelv, fl/fi/L
Kathie Brooks
Assista.nt Dlrector
rGB;nlA$;ePl't
Enclos-ues
e Jhmy fr4onaler. Exeou$e Dir*tor
Max Sklar, Redevelopment Coodinator
John Woodruin OBPI Director
Georgette Dirnldls, Senior M&8 Analyst
FIINFO\$ALLiFDAIRDA Burtge$2olit4\Fy 13-1n Budget Trensdrhl Roqu6sr county-doc
V'la<ra. wl&d bplovldlapa<co.krl pd*,sar .ewd$Qypq[vlrokut. tto*, oadphyhou vilrpot toFkol.hbrrrkcoffirnnf].,
7
1055
.i;;
rUHMI BEACH REDEVELOFNf,ENT AGENCV
FY 20,13/{4 PROPOSED BUDGET
tAS ADOPTED ON SEPTEMBER 30, 2013I
CITY CENTER REDEVELOPIJIENT AREA
i'i
;.itili
The Miaml Beach .Reddvelopment Agency
1700 Gorwention Genter Drfue
Miami Beach, Fl33t3g
8
Submltted By:'
1056
(Miami Beach Redevelopment Agenoy
.Adopte-d Annual Budget for CityCenter
ry,,.?ffi3t14
Contant.
Budget Narrative
And Annuai' Proleqt Afea $tatus Report
FY 2Q13114 openting Budget as adoptpd by the
RDA Boara dn 09/30/1,3 (Cgunty Forrnat)
FY 2O13l14 Opsrating Budget as adopted bythe
RDA Bo€irdon 09/30/13 (RDA Format)
Capltal Proreot Surtunary and Flve-Year Plan
Capital Malntenance Surnmary
Oommunlty Pollclng Budget
Organkatiohal Chart,
Adopted FY 2fi1314 RDA Opet:atlng Budget Resolutlon Paokagds- FY 2A1€,n4 Operatlng Budget'ae adopted on 09/30/13- FY 2013114 CapltalBudget:adQpted on 09/30/13 ,
Adopted'FY 2U2n3 RDA Operatlng BudgetAmendrnent Package- Adopted onVl17l13
(
SECTION
1
2
3
4
5
0
7
I
Flnancial Report - Fi'scal Yearended $eptember 30,2012, prepared by R$M
MoGladrey.
( -.,r
I
1057
MIAM] BEACH REVELOPMENT AqENCY
GITY CENTER REDEVELOPIIIENT AREA
Tq assune ooritlrtued 6oondniiG viahillty of theGlty Oentor Redevelopment Area and
ttre CllJ as a trvhol0, thrbugh the lmplementatlon of the obJectlv€s and proJects
deflned h thE RedsvelqFnentptan and the arnendmentthercts.
To hdgr minirrilm rdocsllon and condemnatto. n.
To tnvtlvd co.mmunily reeiderrtti tn the rodevelopment process.
To eslahllsh: ihe npgessary lfnkagas to tia'h he Conventign Center, area hotel6,
gultur€l amenltr?s, ontertalnrnent Esldanflaland buqineis.uFes in the dtgtrlct,
To enhanpp diveralty pf fom and aolivlty through the use of established plannlng and
degtgn prlnalpbe.
To ctetrte ,S trxffiO $yitem to seiv$ local and thfdugh :trbfflc.n€6ds.
To ry gniae the hietoric Ekuctures and.deeignattofis wilhin the historic districts and
facllltat6 develbpment,accqrdlngly.
$latus Report
i
l
o
a
The 332:acre GIty Genter/HigtorloGonvention Mll.age RedoVel.qrngnf :+nd
ffiJEi%',',Tm'#%fi iflt"ffi tr5l"fl %l?iT,*
deuelopilent of neyr convrffion hotel developrnent wtthin
proximis pf tha Miaml BeAch Gonvriniion Cqnter and to
establish the necespqfy flnkages batuasen the CWs niany
core ffea civiq, cutfurs_l end entertainrnent user ln ordar tq
create tho fabric of e t'uo urtart do.rrvntotiwi.
Since Its lnception, the Oty Genter Redevelopment Area has
undargone dynamlc c*range hrbugh a combinatioii of publio
and private tnvestm. ent initiatiVes.
Exdtlrtg proiaots,ur,hlch luue tteh$fdrmed thq Area fifcludqi
. Two conven[ionquality hotels, both oJ urhich ]ttsre lhe reqult ,qf rubllc/private
partnerehlps between the Redevetopment Agency (RDA) and thb re-epoctlve
Developere. the 800-roorlr Lo6ws Miami Beach Hotel and the 425-robin Rofal Palm{,/
10
1058
A $20 r-nllllon oyerhaql of Uncoln Road, partially.funded With thE particlpation of
businesees on tlncoln Road;
Grcwne Plpr-zg Hotel.the latter o-f rvhloh had the dlstinotlon o! blng ,tnp flret Afrioen-
Amerioari owned hot{ hr the Unlted States;
The de-velopnp.nt of an 000-spaqe public parklng garage (Anchpr Garage) to
aorbmmodate:the Berking h6-edB'fpr ihe Loptirls Miaml Eaoh Hotel, tha frouare
PIaza,HoH and sther servlce and retail bueinessi#'inllio area;
An antard-winnlng Beadr.wa_llr extendlng from ?1st Strep!
tp Lummqs Park. oomprlshg an at-gnade, landscapd
pedestr,ian uralkwag
implementation oi a OultgraiArts Gempus :Mgste_r pfsn
for the aria past. pf the Miami .Beacfi Gonventlen
Ceit€t, Which ln0ludes a new rgglopal llprary, the
heqdquarters of thE Miaml Glty Ealiet, the expanslon and
renovatlan of thq Be$E Museum of Arl, the for
landscaplng of Cqltlhs Park, lnolllding $e rastorgtlg.n of
the RoJunda' and extEnsive Ftlestooape improvemalrts
throughoutlhe areq,
The completioh of the rnuoh.henalded New
Wofld Campus, lnqlUding the nery stat+,
of-the art Gehry-designred headquarters
hcllity tur the New World Symphqny and
two p'uhllcly-fundsd oompohonts, ind'udhga S15 Mllllor munlolpal Gehrydestgned
pa*lng garage aird a $21 Mitlion world-
clasg park.
11
1059
Other lnlporfant projects include the' 65G
spacid rriiiod-use"parklng faolllty buitt on th6
surface parking lol pn the uteet slde of OiS
Hall, vrrhlctr includes 35t000 squar€. feet of
munichal offlce .space; the lmpbrnentatignof maior ,Elree_t end infrastructure
lrfiprovementB throughoul City Gente[
valued at ntore than $26 Mlllisnl and Sre
aoquloftlon and renova$on of three multi-
farnlly buildings (Barday; Allen Housei The
London fhusai to tnalntain the stock of
affordeble hOuslng in the srea,
Tax increment Finanqing fin ffirough the.sa[e of bondE hag bE6n a maJor tool for
flnanclng redewlopmerrt activitiob. To date, four bprtd. iE5qe$ hqye. oocLined in GIty
Csnter:bne h 1gM mr.S25 rttillion, to acguire Hnd for fiq ho&al developffient
lnltletlvesi one ln 1990, ln the smpunt of $43,2 ml$lon to fund contrapt8l obligatlons
ahd cepltal lmprovemenb lelatod to the Loews Holel and
Crou/nA Plaza lioiei proJec-ts; one In iggB, in the
amount sf $38.2 mlllion to flnance caplta! exFendltures
r6lated Io the convanilon hotet prroleetq, tha cuttuitil
Campus prsject end to r,epay the $21;5 mltlion debt
obligation to the Clty; and thd most reoent, whlch
oc,cungd in 2005, in the amount of' $80.7 ntillion to
refinnnpe the eutstendlng debt serujce pn prlor bpnd
lssues.
The City and Redeyelopmient Ageney's commltment tq
upgrading and improvlng the area's inffasmroture,
addreeslng,parking and,circutati,on lszues, and .facllitating
new development haq fqeled glgnlficant nEw pdvete-
seolor lnveetment h the aroa, evldenced by moe than
$600 'Milllon ln new building pentit activlty dlnce the
aree's lncepton.
Ytlqrk Flan
slrice lts 6u@es ln ettracllng tum mnverrtion{uallty hotds, the RpdeveloprnentAgency
hae been focusing lts efrorts oh a number oJ irritiatives aimed at upgrading the area's
lnfrassmtute, utroets and pqrks, alleviaUng iufrio aod parklng cqnga-efion and
encor.nqing the produo0on arid presentation of'afts and ortturat aetivitles in the Aree. ln
2003, tha Redweloprnenf 4gency arnended lts Redeveiopment Plan for City Gonter to
epocifloally addrese ltreae- obJectivbs ln the cetltsxt of the New Worfd Syr.nphgny's
expanslon plan6 involvlng the 17u' Stieot'sr.irface lote and the resultlng lmpact to ths
Corruenlhn Center,and bqglnesses ln the afe*
To this ohd, the RedanelopmentAg;eniy's rhasslon is ts coordlnate, implement ahd fund
the Plan's obledtues and to oompliment tre eiryt establlshed vlsion;
r Cleanerand saf$
12
1060
. 8edufifti,'aMylbnr*:
':
. Msfure, shbte rssiderytal coryrryrunltyt rith rrr{l lmproved infrsstruc'tu-re
r Cuthtr-al, enterJalornent and .tpurlsm capltal; ffid:fntsmat6nal cEnler ftr lnnovallgh
cUlture a.rd : busine$Si tAfi il6
. MaH&lzing VaFE F our comfiqnty for th6 tax dolfars pald.
The Reder/stsplhqnt Agcncys 6h,j6otitits ovgr tho next frve years shall focus,qF the
ptanning and'iinFfemen:latfon of dpltai prolecJs assodated w]ft, but not ilmlted iq the
fitraste1 P]an for lhe expanslon of lhe Crcnvenllon 'Oenteri upgradlng straetccapes snd
related krftastructure throuEfrout City Centet ard lhcreaslng the inventory of parking
faclllfles, lncludlng the pendlrE oonslruollon of a new 460-space par"king garags to b6
locatEd on 23re struet and Oslllns Avenuer des-lgned Uy ruorld*enowrad archltect Zaha
Hadld-. Ths RpA shalt also continue to firna pfnUc seivlos enhancemsnF Hovided fqr
under he Oommunlty Policlng Program es wEll a$ gnqurB the on{.olng flialnlenenoe of
cgpital asseh funded with TIF. lt should b.e noted th6t thqf a mqloflty of the capltaf
enhanoemflts setlpith in tie RedEiaeiopment Plan ano th6.2002 Amendmertt thereb,
liliye b.een mmplehd ind/o are qunenflyuMerway, inoludlng theClty Qonler Rightof-
W,aylltrpmVsneflls-, thg Clly Hall Expartslon Garage. the Odllns Farlc f.nprovements and
th$:deVel.opment Of the l?h $treeJsurface tols tnto Bre Naw World Canipus.
e Based on lhe ?01aOeiliffcate of TaXable Valusfrom the PropertyAppraisai"s Office,
tho pnsltmln.ary.vafge of prope(y ln Clty Center ls aqtually proJected to lnorease by
7.301p erle1 20{2,,mailtlng f}ethlrd i6ar ln a row;'rmlues seem to be 'baok on the rlse,
f6[g1fling two ]ears of decllne. However, as [n prevlous years, the Oi$ has
recelveO coireSpqndenoe'from tho Gounty, advlslng of'the flnalhaikrn of lhe tax rotl
Sr ttb prlor year; whlctr ln the case of FY,201l/f4 refleote a slight:dectease from
the prellminary valuafioyr br the sgme yoaf and wlll fesult in a coresp"ondifig
adjustntenlfteduction in TIF reve,nres totallng $168,000 tor 201,$114 w $3.5 mitlbn
tor2012113.
Additiornl $ources of reVenire include dh e$dmated $5.4 Mlllion In Resprl.T.ax
conlributlpnsi a 16 mlll levy in &e, amount of $1.8 Mllllon, ts bE sel qtlde forths
Chlklrenls Trust pursuant to an lnteflocal Agreernont dated Ar.tgust '16, 2004
b.6t{ean the RDA, the Ctty of Mlaml Beao,h and Miami.Dade Count$ and an
estlmatod $25,000 kr lntelest lniqOfne.
Prolegl'releted expenses accgrnt fer appp$mately $28 Milliprr which lncludes $4.?
MiHtqn t0 bd alto0at6d for oommunlty ponohg lnlttatuee in City Gontar to contlnub to
govfle enhanced levels d stafiing add seMcep thmughout the erea, and $5 Mlllion
for malntenance of'RDA capltal profeob, On-golng ahd planned mpltal prdects in
Clty 6ent€r ar€ projeoted tu aoount for $18.4 Million ln the FY 2010/14 Budgel anO
generally ,lnctude
-alt6catlons' for construdon of the Colllns Part, Garagq,
Crtyl0onvention Qar.rter Right:of-Way gtorm Watsr lmprovements. Llncotn Road
Master Plan and improvements to Euclid Avonue. An addlfional $64000 lE belng
proposed for caplEt reflewal ahd replacerient projscts; lncttrding repalre and
13
1061
mainteiianca t0 the Colony Theater' Addifionally, $005,0001 ln transfurs to the
Perrns$vania AverruE Shops and Garage are budgeted to oftet fte Citfs coatS
asqociated urith ths retailand parklng operations.
Admhlstrative Exponses tOtal $1.9 Mllllon, comprislng e management fee of
$1,198,000 which is allocated to the Genaral Fund to pay for direct and indlreot Etaff
support for the RDA; apprqxrmatety $650,000 set aside for qn{olng plannlng and
coniulting work ralated to the Convontlon Cerrter $Qenshn_mqqter- dan; and
'$25,000 for capital renewal and replacefient pfojeds under $25,000. lt should be
noted that the Msnagement Fes,auosation- ie reflectlve of aotual dty resguyces
appiled to the opera0on of the RDA, .as supported by the RSM MoGladray Gost
Alloceflqn S1u4y, dated July 20, 2009, lt ehould further.he noted thatrAdrnlnletratiue
and Opemting expenees only aceoutrt for.less than three percen! (371) of tlp t_ot|t
budget, which ie weil below ths 2006 thieehold level established (and permitted) in
the lnterlooal Agreenent between the.Glty andthe County.
The,cilrreil combined debt seMce sn the 2005 SerieE Bonds and the Parity Bonde
aqqouflts for aBplhfimalelt/ $S.65 Millign ($8,.4) Milllon annually. City .Center aEo
continueo adsuttting debt Eervtce pAyfflsnta on the pofllOt1 qf the Guf Bpeze Loan
used io pay fdr tha. Bass Mu$sum expan*ion and renovatlon, and the portlon of lhP
Sunshlni state L-oan Piogram used fpr Llncoln Road lmProvaments, whlch
collecttely aoopunt for approximatety $1.,3 Mlllion.
Reserue lina item expenditures lnclude those lterns that, pursuant to the exlgting
Bond Coverranl$, may only bo expended once ffre,anngal debt servlce obligatiQns
have been met These lnclude tho Gountyls admlnlshatlve faes, aquivalett to 1.S%
of [s respec{iue TIF paymenq and the coriespondlng contrlbtrt{on to the Cltyls
General Fund; equivalent to 1.5% of {he Clty'e ehare of ite TIF paymenq and the
reniltrence of the 14 mill tax lavy back to the,Chlldren's Trust.
I
14
1062
I
3IL
EI
I9.![
EIE$,gE $
E *l[,, ffi
i$$$g$$f$Fg*u*rg*n*eEi
sggrsE!Erfl,
3
cou"E $$ *s!T EE EE.
HslE,$[[f$i
}E
6E
xtr
Eg
I
GG
Hfi
5iE
BESot .rEg,gEfu$**iifus$$s,
' Hnfr
E$S
E$$
EBf
EI$
H
E:
15
1063
Miard Beach,Redpvaiopmrin( Agenc1
Clty Genter RedevelopmentArea
Proposod FY 20.13114 Oparaflng Budgrot
FY 1U11
FY.t3rljt Fudgslet!ProBoeed Vodarce!
'Rougtruot tltd Other Sodius irf lnbotno
fax lnirornarn -ettY'Pa{ Adjustment ioQB lncremeOl
Tax lncrameil- CorrriY
Prq Ad,ustrtont to CbuDiy lncr€monl
50?6 Gontlhllon from Resort Tax,
'll2 MII CtiidrqibTiuat Cortlrhullon
lnbi'iitlnconro
Rmd Balamo Fledllooa$qnl (Nom-TtR
Fund Bahnea Renelrd a{ld Bsplao€mfil
Olhs Incme/Adjo8lmfi !i,
TOTALREVET{UFS
AdmtrYOpoatlng. EtFitEEs
Ma[4itmerd fee{talatla E b6no0b)
Sshdrsgrd Boni,ttF
Adverilskrg & pronollon
Pd6tagar, Ddnilng &malln{
ofllqp eupptk & equlpm.nt
glhsrOp9ra$09
MeeUngE & oohf€ronc*'
Dlee& ilbscdpllohE
Lloanoea.t Taxie
AurlllfeUo.
Profeoclqnal &. rdatpd f*s
fleiulre and Malnlenanoo
Mkcallanaous expenBei
Total Admlnloper,lung FIlg,lsog
troJeot Expon!€*
Jommunlty Psliolng 1l3{d..1124
capltal Prdects hiatnlsnamo:
Prop6rty Msm[ 108-P904
Ssri[duon:' 10&ssi5
Gredhspacs! 188-890h
Nnds prq,eot l+rcofn Park Complex.Codhgencl,
illrlrs ProJoct, Grgnl.ln Ald
Transfer lo Pcnn Garage Paft hg
Transf.er'.tb Pmn: Gsrale Rirrall
Tre!$fer lo REn9l]vrl ahd tteplso6mrriil
tmnafa to Qaptal Frorcqls
ToIal ProJect Et<pdnsca
hsFo:rvo snd DeQt SqvlcA OFllgatlonf
Debt SerUca cira - 2oo5 + Farny Bohds
gurl€nt DEbi S€fvlcd - UrEdn Rd Projixil'
CprrEnt pBb! Sgrvlco - gess Mqe€qru
Resoilo,Iof Couhty Adnln Fba
Re$ery€. for oMB oorift lbulbt
Rese ialor G-h$drbrfs Tririt Cfffifru[oh
Reservc for CollliE Pqt Firfl(lns Gafaos
Repaymgnl-fu|b1 Yr Fuod BaEbe
ResewsfuFulurB ftojeoli
Toltl Re$rv. tnd Dpbt Borvlce
TOTAL EXFENEES AIID OBLIGATIONS
REVE}Ii'ES . EXP.EIISES
tYfitt2 FY20i2ll3
Acllst Actuel Adopted Brgoat - FropFvtrl8
1a$n,6la ?,
(1,476126i.
'10;047,879
(1.?.02,30{)
4;492,078
4a1+,s$a
n,*1-
,8837F9r' 'S
fl,750i467)
r4r0r.zeB
(r;307;{57)
4W,1;88,1181,001
8,27&
ts,1E8i000 $
(r!,87{,@o)
f4.Br8,ooo
(1.036,000)
{;68{,000
,,67t,000.
13,q00
s.1i5,000 e
s785,q00
5O3,000
190;000
26,l.0@
{,6-t6,0d0
lspS{,000 |
(0,1,000)
16,902,000
(74,0@)
6,880,000
1,081,@
?r,*:
ilQ,Qso
t.7r7.0@
i,i?4,000,
t50e,000
?02.000
?66,Oo
12,07
,t2.000
388,000
911,624 S
2,76i4;371 I
000p5q
2r0,e2,110
ffi,0m,000
7-$164
2$,n49
952;869 0,
059,60,|
076.000 5,
$oE,ooo
174't.oo0 $
$1,!43p00
12,603,000
.e703.00:
a06,000
1,0{3;ooo i
t59,000
60,000
,t,poq
,t,go0
1,000
1.000g.m0
tats
?s6
BT
{,519
12
788
20;260
'60,031
3,000.
{,000
't,@0
2i0q0
07.Uoo:
s0,900
60,000:
tpoo
t t54,o0qf-
s3,o00
42i,Wo
001000
70,260
t?q,p73
s't,480
21.000
029,000
2qooo
9,0q0
21.|,r)00
oe,0d0
q4ilr72B S
tip19,173.-
2,500;rf88
w6,212.
40,s0;
947,112
4,1S5,000
1.:176,@0
s,020,@l
832,{80
308;q00
d,3s3,25d .f
t.0g{,17Q
606,!60
221.182
269i6SI
t,{7.1,030
2$18,24$
s,51G100 g:
I,10.3,a60'
waf40
193,801
.4ETf,9
,,,t01,004
{16tig?3
8,65(,,m0 .0
825;0001
547i000
2to;0oo
28sO00:
1,tbi,odo
34e000
lSFt@
{0,1D0
it,tioo
1r,.m0
22,?(D
250.{r0o
912.000
3(,80:rr628
tIA,4E3
tq,246,061
(349,{00}
30,771,000 4t,0oo,0oo qizaqoqI
s
I
s
$
$
$t
i
16
1064
Proposed FY 2018/14 Anchor Bhops ind Pnrklng Garqe Operatfng Budget
FY 20r2i{3
:REyeri{is:
'Paildm Opelatloos
.HptC,it ooehg
lnlor€rtParohd C6ih
ToIALBEvETIUE8
ODrrallng ExFsnsss:
Parkhg Opcilqilons
Gridg6 Ul6'F.6 Oatoa/rl}
Qarqge.Ropalr and Malnlqrunco
Rona! L€aBlno Pro.Bly MifiagqmErf, feo
RohI teaslog Repak& lhhlenancc
Reldlt lntemal Seolos Qhaoes
Ftetstr Opqatlone Depred6tlor
lylanqgEmbnl FEe lo Gancd F.und
Farkhg Qp€ritonp Marngeqrnqr( fbe
Retslt tlaehg lrhilogam6fi I Fod to GF
Tiafi0f6r lo R6D6s6l aril ReAhooment
ltan8fer t0 @pltF! Prdste
RasBr\ro ftir Putuc Ctipllal - Parklng Opaauoris
Rsoorw for F.ulue Oapltal ' Retall Qpaatlom
TOTAL EXPENSEE
.88'VEN UES . EXPET'ISES.
neye..nues!.
P€ddng Opgritons
Retafi [eaitru
F6ti{ Tttrifor frorh RoA Op6ra[i]Its'Parklrts Tnnbtsr,frpfit RDA Opara0onq
t6161e9! Pqqled C-aEt,
.IOTAL REVENUES .
0per,ailirg Exhensee;
Paddng Opera[ons E)petdllures
Paddilo AdmhlBaso Fee
Gardgg qound Loss6
PE tlhg Beto R€nl.
lMdtllPerocnlagc R<rl
Gbrage MtuldgBrriedl FEs.
Rets[ AddlqorFl. Eaee:Rent.
Retetrbaso Raat
neuliAJdnree,
Doprsolilqo
LoaBhg Comml86lofts
Adrnh FBa{CF}
@ttllr€onc,
TO:TALP(PENSES
REYENUES 'E)(PEII/SES
Fr&e4_6 $ {,3gs,?De t .t
Proposed F1l2A1.3ll4 Psnnsldvanla Ave Shopaand Garaga Operatlng Budget
ri{ofii FYlrlia FY 20r2lr
1,6-sa84( I4?r,st.
7A,917
e6,271
55*390
109 07,{,*,ot
68,10s
55Bm
106,?40
1s0.741'
.2,Q25,00g 0
,63,000
62;000
35,0.0p
58,000
224;wg
22s,9op
11iQ0o
lrsAooo
802i000 I
.53i6d
23;000
t2s;o60
.s0
$4e000
e27s,000
f,l,q)0
2rtt78,m0 I
6ul&o
{/,06.0
34000
ts,DQq
5q.009
,2{wo
234;W0
,lo.0o0
@,N.0..
:6A,@0
44.000
g,.900
Fq.q0)
E&000' (10p00)
tooo
Lmo
(1,ooo)
0s;qoo
t,?B{,md e
4&C41
e;Alg
300,72 0
73,708
2t,662*,*:-
?23,020 I
16,388
te,62
2i,aii
N47304
$to,rsz
s27Or4{8
1rJfl
Er'!,qsl
90s,100
024'000 $
66,odo
28,000
2q0@
..
0l,0QQ:
no..oail
130,q
1{,400
(1s,ooQ)
UU,T
?0,000
?,000
17
1065
efrr6FrilAitr BEAd{
RFEVELOPilH{TAgENCY
g-AFllAt Ptril - HrtlBu'lB sultuAnY
it-t prrorrrdn0./\c|9.ltl.fitlt
lliralliF 16$8ro!.ralb..lht(DraEdreEl
Wti9*f.r. rmayrtQaerG|.lFrc#.Frrrlrlt{riir
'lbsririiris.itilrB(ESkbulFsArofBo$ ftdS(n tl.lbDolrt(Ll*lrdR
plrwoa,oouocrlkehda*hriEllfi'0
irit{thnr A!]ri.uncrqi.&,rrri0tt'qr'ir
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;idqqadt 'EIr rt*l8o s..t irl iru&riro( Bqr.
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ivriik{L aricir.d4i.rAt{ldrBlr'riri6.h8b ollr o!,Fr:t irnoarrU!.lbl Eftgu*&tr oDWtrlliurhordrqrlelt
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r4rc'ion drixuridtEnhtacnroihac{y
hfiSutD6 AirgsUtfitirtoot,.ildFedo
"c$1drio B|d3rfuilrlj|tfl"ltbduordfiil
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auo,!itn
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,Urlnr
iqtuo
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iqrii
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$JE9erc.
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|',!EEi1z
tnoo
.6l.lfp
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r1?ilrtr
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ZI',F,
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$,p0q000
zlo00
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end Parldng
Ii5 rSlb'
t*hpr Trust Fund
p;pdqn fic20tg dcrflftqatcrtoflaxab-hVilt6frornh6FrupgrtyAp@sefsffico,treprqlh]narytalucof.trqpeW
IR Clly Gan&k lr prdeobd b lnqnime by 7;3% or,0r:r012: tli){t,sver, ss ti Clro{rlous ysarc; rhe Slty hnh,reeFlvcd
arespdndenoo fiun he Gtm$. rd.vlsho of ho flaallzatlon sf fte trDr toll tor'tho pAoryar" whlch h lhd dacd df FY
2011fi2, rlnedt a dightdeoease ftpmthe prelffiaryvahaton foriha eme yrarand wlllresullln acsneapondlng
a{uifrfient/tcdnoUonlnTlErercnugsbhHng0l0Ei000for2OtUl4vsgS.im{llonlbr2Ol?13. Add0onslqourclcof
re!,Enue Indude m Fstima&d $6,4rt{l0qn h FoeortTaxcontlbu0bnrtaE mllltaryh hEsmounlof9l.S,mlfl$.hle
eetasl&foruraCHErur'oTrust.p{.fsus.[ltO €h lnls&pd.Agreemeni caud egfliHE,3,Qgl betllrpeh.the RDA, tla
Gl'0/ ot ME,ni EB80h and MlalfF,DadB Comly; andan BstimBled $?6,000 In hlor$l Inoom6. The Eir,pGql FY 2$gn4
Oty Cg[-tE Rade-wlopmen_t4lEe Eudget of $43.qffi,009|s $S4,@0 le$ han &e ppporg.d Eurtg*rEcsflm€ndEd by
lhg!4s{rttveDliicbronSefiarnbar!1,2011, TtilrdecreutoFspatrltofriredUc{.onln116OqnddenffraeBrareot
,u276 E,i trE Mer and Contmffitm at is wofiehop :tieid sepomrq 23. 201 3.
td qder to addrect $q eudg(.og and fuSno ohlsarorrB qf.lhe Rsdewloprngni A.r.org,..q 6repfiBnghCe-at.flUrlhc
RedqV.elOpment An€noY.adopt tha attaclre( ResotilBon f,,hl& estalillshes tlp operatng budSg-E fur fie CIU Cnriler
Redov€lopmgntArea, UeAndlorShops and PaftlngGm6ge and {hE Ponnsylvanh Avenue Shops and Garrage 6rFr,
2013114,
roEil;fE*, t A
lrrtz Q'k]-t?E MIAMIBEAC,H
1078
E MIAMIBEACH
GDflli,EcdBrcdt l7O0&nwnlqaCrdcrDdr,]rtEnilBqh;Fhrkhgt'lgglwu8Osralbegd,ltgor
R EDEVFIOPIVTENT AG ENCY MEMORAN DUM
rG Chahpereon and Mgmbprs of the Mlamt
Eolt JlnEIryL.Monaiee,Exbcutiv8Dhedor
DAIE:, Srpt6ttb*90i2013
suUEGIr A RESOTUTTON OF THE
RED a|ELOFII Et lT AGEf{OYtlbEE!LbVa lnH!a aBb.lvaI .uvr rlatY.^!Y u..La-f
BUDOffi FOR.T}IE,UTY OENTER REDEVELOPTIIENTFUDOffi FOR.T}IE,UTY OENTER REDEVELOFTIIENTAREATHE AITICI{OR $HOPS
AirD pARKTNG eARAGE AND THE pENnsylvAr{neveuur'sHops aftD cARAGE
FOR FISCAL YEAR 2OI3II4.
AIIMI }IISTRATION RECOMTI EN DATION
Adopl gp Reqo-luUqn.
AITIALVSIS
The prBposed budgpt forthe-Clty Cenler RedevelopmentArea (RDA)ft-r FlscalYear20l3/14 has
beeri piElsaruO to dolrtOlde wi0r ihE ovdrali CIty budgEt procdsgi ano S being prusented today to
a6sl5t ln ppt {ding s cofitprefienshp ove rylerar qf the'aistrict. Pfahse refer to
-Att{glimonl
A for ih6
proposed bldget detalls.
Fcvsauas
Fe99d an thg flI13 Cerllf,rcafion of T.axeble Valrlq from;tre PropertY Apptataer'a Ofrlqa, he
pfelMlnary,rattftibf prgBei,tyln(*tyCEnterlri prajeced'tolncrease by?.3%ovaIOtA, matklng hQ
tldrd year ln.a rowraluas hale inoreamd; ualu$ segh to be baclt on 0re risel fullowlng ltuo ydars
oI dadine, Flbw"y+r, aEtn provlotn ygars.ltroCity tus ncelvad porrespondgr.,rce nnrf fire-Odunf,
adv[glng ofthelinsiEatlonof tne'taxiottfoithe pn6ryear,urtrlcti lntheciseofFvzotl/l2, rafleffia
sllght deqpase trom the prallrhlnafy vatua[on for lha same 1relr end w'll rasull Int coirespondhg
adJuetmentlredus[on ln TIF revenuee tola[ng $188;0@ ror2013/14!dmtrs'$3.5nfrfllonfur20lt/13.
Adiilflonat sour-c+o of,fearenua lnolude an$sdma, hd $5.4 rollllcrn ln ResoltTax oontrEutons; a )4 rntll
Brykrfreamouhtof $1,3 rqf8lon, f be aa asida:forthe ClrildrenisTrustpurg0entut,En lhtet{ooal
ngrement dEtgd A.rrgupt 16,20q4 hatwean lhe RDA, lho CWoJ MlqflBeeoh and Mlathf-tlaite
County: and En'dothaFd SZq,0q0 in hrtei'$tlnoomo.
ffiffil-ti o{pense$ aeouhtturapproximatetygtamlttton, uyhich tnctudssS{^e millonb be
allo'cdedforcommunltypolhhg lnltiatlrss lntregtyCenterbcgnlinue pmvldlng enlrancad levels
of sEfihg and cendaes flrroughortt trg areq and $4,9 m$lhn for rfisintgnanca.of RDA capital
Agsnw
Ahro mEmBERg oF Tt{E MlAlUl EEACH
AT.IO AFFROPRIATI NG THE. OPEFATI N C
1079
i
secg//8/i/tfi,ans
fteilatg@men a Accrry rdaawudtnnWW W@,h' q& Cer'(Br br.Ff 201 an 4fuaZdg
prcjecte.Ongolr{andplqrnedcapitalproJeoffilntheOtycentuanproJ@dFaecoqmtfor.$1&4
rdlttrr h he FY 201U14 Budge[ and hdde alltrcailom br eohrfgdon of hc Ooffns Patk
Gariue, flre Ba6s Muszum'lnddor Erpanslon end Llhcoln Roed,Maeter Plan Sturty.'lncludes
${ .566 tnlfion a* e tanstErio covar nrlor oaolhl trtrf balance delldh,
An Addltlonal$?87i000 ls b
rspalrc End mdnbnanoa io
for *tBltd renciw.ai and replacement prroJocts; Inqhdlngr w$ltrH rEr.rYrlr. F.rv. ryr.{evsrYrrf lrrvlvne, ...tEv.r.l,
rd propcte and faol[tles, krdudlng th6 iAndror Gmqge
ln traneferc lo *ie Pannsyltanle A\rsnuo Shops andartd Colory Theaier, Addtiqrally,
Garaoe ale brdsetod to oket tha
and Colorry Theaier, Addtimally, $306,000 ln tranefea to trra Panngylwnla A\r€ruo .6hops and
Garqe ale hdgetod to oket iha RDAte, cosio 'asEooletsd umh trE ratdll anil parklrE spEta{ons.
Reserrcfue[an Influae ffroselteins
mayohube
County's ar
qnoe he annUal,dabt,ssMco
Pailr
0l$oTIb
Admlnlshatlve E-llpsnsor tobl $2 rnlllh& tomprlsW a mafqggnent fee o.f $1,04-3,0.n0 ruilstr lc
ellocatsd to ha Gensral Fund b pay for dlroot and lndlmct sgffsupport hr the RDA $81,000 for
aofiralopcratlng expEnsesi spprqxunably$629,000:satasld€ foron,golng phnnlno SM ConsuHng
worktoletad h- lhe &dvohlhn 0errter expanglon rnaster phn; and $261000 for caphal renarval and
rcplaggment projodt under 625,000. lt rhor.0d rba noted hat lhe Management Fee tllocaton ls
rofleqtlw of a0tual dU res0urcqs apdled to lha oppriatlon of lhe RDA, as supported by ths ReM
MpGladrsyCostAlbcatlonShrdY,datedJuly2Q,200g, lf$ouldfrrlherbenotedthatMmlrdslnattua
and OporaBng e{pansac only AooounJ for hgs lhan feur FrQBnl (4%} of the Ual.budgot, uil{ch le
well belowhe 20% treshold le\ral estabJlshad (and psfmltted) h thb lnHhoatAgfeementbetweEn
fte Etyand lhe Cqunty.
Ths wnuntcomhlned debttewlso on lh6 e006 Sarteg Bsnds and fire PaW Bondg aciruuhb for
appro:dmatsly$9,0 mltlton annua{ly. CI$ Certer:also oo.nltnuos gssumlrg debt egflae psyttterite pn
lhe porton of ttte Gulf Brcezi .Loan used to pay for llu Eass 0lueeum expan$lon and mnovaloh,
and ths porllon of 0re .SurrElilne Slate loan Prpgram us6d fqr,Llrpoln Road ImproJarieilg, l|,ttlolr
mlloctvely account for:appyg$psElqll $1.3 mllllon
TIF pgwnail; and ho remlttqnpE of lha 1{ mlll tax leUf b-ack to lhe chlldren'6. T.fust.
The tevenueaoyrd expenogsassoqlatadwthopanatonsof tre n*vlyo.pened Pe0nsylvenlaArnnue
6hopp and Qarage and thE Anc*ror ShopE and Parklng Gptage are prps€nfed aq pgpaeta
,d$6dul$B'.ln.ider !o ollmlnaE Bny pgrceptlon thdt proo€eds from.the fadlltes'opErra$ohs ars
pooled wl'*r TIF and olhqr TruEt Rrnd pvanuae:
Arcfror $ftenp and P,artlns
Garage nvaRuea atttle Anohot Gaiage are pHbeted at epprc)dmebty $3,1 fillllon, wlth operutttg
qxFnges,0ncluding delEdathl, qgntraoluairevenue+hri6g obllgaUonrr-dth Loeursandge.-mfal
tunil ad$ilnlsfiaflw,teEs); of approxlnngly $2.6 mltlitin aM'rpservss of $72,000. The Andrr rehll
:ffi SEry#.?Hfl ffi $01'-f ?$ffi -t:-H*3fl ,*,tffi H*{#,W'iffi &rtEtl,ffi ii3',f-Piff 3
depraalafion bHllng $116,000, as rcl] as projeclod resenuc of 974i,000.
Penngylvenla Avenuc Shops.and Garage
ln eonslclqBltron of the factfiiat$r+ Ponns$vadaAvenue shqps an{ Gana3a uas hulltbylhe RIIA
on CRyownqdpropertyr tlp operation of lhE fadllV hes. heen struglured ln frre frrm sl a 0ibund
bago bat#€n the 9v snc rhe R.DA pr,ovfflng terrl!6 for botr hE Garagg End Hetall operatl.orrs.
1080
-t
&plcnbe,,w&13
twcvaloryrwt Na,,try tlo nqanfu m
Ope{Ed/& W@i lbr O[y CBnl€r ftr Ft 801 8/l I
Rtgc 3 itts
71re gardge oFiathns lndlude base r6rrt atld eo edminlstiEhe fee, eilslstent wlth tlut of the
Anchor GFtaS9, Parldng'goFraliorul fee. and E\renue $afllw bstilean |he Gtyirnd $e RDA ThB
Relall qpgratbrE slsq lndude base rant and an admlru'sfiatiw fre, a$ wefl cs a rchlt hase rate
baeed on20l0 rehll mglcatep @s. The reEiioperadone also hnclude ranenua eharlng beftilsan
he,ctlyHrrd,he RDA
Base{ q1 eglhngteE o, the gnngeh qqrgnF}raar.opqeilrq re6ults, dnd Akhg Into oonetrdora{on he
suaqrs$firl dloou06n 0f { Iaase agt6srnent u/lth Fein i7, LLC,i for thE enttre mtatl qpaca, tha
hclfitylE antq{pated to genena.te $1.600,000 in revenuo$ in FY201S/i4, qom.p+i$ing $s6S,000|nparl(ng novsnue$ and $55Q,&0 ln retF[ lnfiinre. .l|trr/vnG[ Glneg tho'frdllty lb stlllanHclpete{ to
operabgtaboe durhg FY2{t1:gll4, hs RD.AplEnstoeutsidtseltsoparatlonslhnoughaGnshrof
S05.000 to ttra pqrffuO opgratlone. Experiser for the hcllls are UudgetoO ai 0t.0 Miillon,
ag,np.$lng $S0,(l0Q fr dJrecl. qpqlqttng oo-$S fqr he gqr?ge snd $611,000 ln lsaEa frm.*elaled
obllgeflona.
GONCLUSION
Thc prpposed Fy20l3/l4CltyGenbrRc&velopmentArca Btdgetof$$.000.000 h$94,000|eea
traft,the prbposod budget reoommendEd hylhE EIpcullve O{mctoron Septentlef 11,2011. Thls
dadrEate h.a result of a ndudon ln lhe cityrulde mlllage rate ol ,0275 by thE MaWr qnd
Comrnlsslon at lt$ rivorkshop held Soptenibpr 23: 2013. ThG mUag6 Eduoilon deonaaseB tle ,T|r
la\rafiirco pald to the dUCsnteiFtodevalopmentArea byths Gityof MiamlEeadr, thlsmduc0on in
rerrentis8 wes offsdt b! a mductlon ln ths opandlture llne "Reserve for Futqre Oapltal FrcJeoi*"
ln order Q address the exlsthg'qnd future obl[a[oru tn the Redevelopment Areq- li le
recoffinorded thatthe RedorelopmeritAgenqy adoptttts attactred Resolutlon, whhn eetabitshee
$e operatlry budgets fg thq $ty Carrter Redarretopment Area, the Anohor Shops end Parttng
Ganag6dnd the Penitsylvarila Avenue Shops and Garage for FfZ0tB/14.
.lLurrrsrus
Atlaohment
Ti\AOH.lOAU0i$Eeptrm6ar rOROe euq* rnenn ZBl3-l4.doe
1081
illa'{rl bcso$ idqrdwla .r* A$noy
.Ctly G.ntrr Rfih'4topndrt AIto
Ptqp€d FY 20{t 14 Operrfilrrg Budccl
'Fr,tdil
e1t,6a{ I
i;t.il,g4 ,
e0q!s
2,9*1*
frifie Fr'r0t4$
Frltlnaft!0xrd
(rrcso.000)
:tlq,qQo:
r.b?E;00't!.000
t9.p3{,000 i. ted0gql
$,ele008
O40m1
s,cs,0o0
1,8t1,000
25.000_
to{E@ t
r6a000
!q000
8000
ar00o
1.000
Ir000
10oq
7{8.000
1.rr,000
ti,{?t000
1.6i2,0Q0
im,000
,sc.0@,rrj
fllitd
O0r*
toTlr.
8t
2,819
72
7t9
1.!r00,ooo
r6JE2
;8,t#
6Ads0 s
r0E60r
o,arl.idt t
t,o!$4'tr
a#ira6.C
!0q2{:
a8,80'ur,{li
g16,u0
1i4000
&0m
4.00q
{r@
4000
gr00
211.000
ii,iliJtih .f
3{.t1r.00
iz,mr.ooq
&as,000
.
{q000 .r05,Om
llt.00p
fl,a-00
{r!r1000
8.000
t{m.mo)
Grs.ooq)
It6,0(n
r0p@
t1,000
+lJ(pAM
410.000
fr.00p
b0:000
t0,m0
r,000
tr.odl
4200
?et
4$5,fi0 t-.t'rir7tr00
a,uqmQ-8s,@
8.gsrl6a t
1,Oet,1?6
00!p50z.lle
ta.&r
1I7{I\T
2p{03{c
t,ueqros !
1,16,9Qt
!0a740
,01001
l{qrle
t.r81.00{
rJBt,m$
0;s50,m0 $
l?0.00_q
!{r,o0o
zqt ooo
?10:000
t,firt,mo
3aa000
tE olro-lF Idra{$ I sqzsQ!61 I
Or0r.000 I I
a
.$p00rql0 t !r8t8r@rt
Rmrucr.ad O.6cr iouini ol lnconr
Tshcrgll6il.Qqf
Pr4 Adrdnrnl to An:r heqmd
Tshcrqrls{t.@mtr
ftC &lwtst?ql ts (hnF halrdmil
'Golf Oodftrrhn tom Hn*qt Ts
'lrz liff ffit'5 T;ild qnHil[ott
fficrdlnrmtcFls fuhnc. RBhcaBLr: (Nf,FnF)
t&w.008
,fl,fh816?l
il,ltl.iz*i
(l.tsrrltD
1p49,'t8g
i{dd-o{
8.gts
-fdFdnfoDrl$qlh!.Feetlrrngtoranl tb{Blirlts i bsn nb)
8.1!ilg'rMlHldr3
Anar&[tgAPE [u'{on
Fodlgc,F.lnlh[ &qdh!
OilsrmleB&corhsunt
$irraFt,iltEM6{rE!&9od6roB
trrri O ruhrodpthnr
urslolFaTdr6|A!fllr.q
P(dtrrto0_A I tiildodL&
Rspar| snd-tr&$lh{flrpi
ul.q.el|hd'ri0ilifiEs
Iotd A&lhl0ban{m Erlrm.r
Ptqlaeryltl.€
coAmuUyfdcfuli&ttz4
wrdrooqEtfilBirErfr
rogrl;l&lrruf&tC6{6itfn&d t0&0eB€qEmrloo6 168"9066
lrwg PrqaEulJocolr PBkcompls( Ccreuond!,
.Nrr$pqdeot-6ml*l,Ad
Ttiluh b Ftfti gtt,{tr P.rldrq
IlridFbP!m'94plllDl1TrEffirb RolBwol offl Ra$acfiitnil
Tllmmbcssh,FElaqb
UFEFotEFan G
Rll$tt.nd D$[Sen oo gbulrtool
OaDt eriltt 9oll.trm6+ FslU Bond!
Gr{lg,lt lhu&nrlcp - tftlcolo Rd Prdfot
ObrrtDoDl8on{oe. Brs3 MuE um
Rcr6s4['CslIlUA@rFic
.Rosrp lbr cMB Corilrlxtlhn
Bdfiio (er'Or$drinlil-rirtt OfriElhJfrolRllq* fo( Qo[m Pnl( Pat[U Crrsg]
RfmtlirerrbPr.br Yr Fund 0ahne
Reer'Uc lor Fufirr Prdrartfil R.reIyD f,EDam8on la.
rctir ErFrl{sEi ifib obr.IqArJons
BEVElfl,lESrEGEiI3EI
O/af6,000
$ilt,0q
E0$.000
fe0.000.
,0rp00reru.q
E0rTIt.g00
J4
1082
Pr@oH FTl0ltll{ fitdrot shope and Far*lng G*"gt Ofcffing b@lr *trl.
llcilnutal
nEl,E{IFiulloENBE$
l.fl*!4r t:irl,rr0
rd.iif?
o4iit
s,t&
r"F.fr.{
1AS.0i4
1p1.a7li t
*i0.t4i
o2sr0
6.1@
6,300
te6740
tgs7l0
5l0o
44,000
!r,0m
(4iooot
t&mo
(1c,000)
||,040
r.000
(..000)
36.000
t ef.era t l,llgrrs t ..t
Propoofd FY 30!3rU lhtrneylffith Aro Bhope ond-Baraga oparat,n0 *O*r*,
fl r0rlr FYlt lt Ff zorrrit
Rcvandrir
P!flrrg opor.Sro
Rttrllt4lhg
Rrb[ Tnder fi,cni BDA Op.uUrfl r
FrldtE15lBlkfnmFD O]Enllqu
lolG.BFodel Ctch.
IOTALNEl'SflJE8
OPlrdlngErE{ttB:
hrkry Opcra[ons hrfldiuc
P!!Xm 4{rriruBer66.i
'Cliielelutrdr.LE6'Fa*hd Bera Rrd
ArdtvEra+fitmRcnt
Saegr tf.drfrhntqrtfre
Rslall Addilmd 6aaaRrd
.NHilHtIi,REfiT
&ldArrmhFra
DrnoddlFt
lrlltEoonfiftdonf
Arrnfifrctcrl
*htt6o-1.f
TMALETPEI{888
l(EtE',i.tlitsE-pF$rgEd
*t:fi?
tl3;tr8
ai2
a!trreI I
7tltB,8.fil
28IU
7et0r0 t !m;00q t.
.E$0!0
zl,0@
trs.ms
r{7.000
Ur8;oo
6rnto
:
r5!.06
@;@ I
E[fio
-t
llrtgo
m,mo.o'T
1{.00
tao,mo),05.@
?t!62
23sE
rd.ifl
_ir0sPE i.'!lE
fl;t97$rnsl
s6s.r60'8,6tti
2l.000
31,0m
0r.p08
22q000' {tl lro0
!r.000
re,i00 0 B,rcp1 ,l
aql!.9.09trrtrotl.ffi:
sqom
lSooo
06,0m
22Am,
!ar,&0
ru.00p
Uo.Alo
Frolo.ld 9aftmo
FA,A
$i00.
!80.G0t I frG0tr0l I taS0rooo I tr!fi,slo. .l
2i@Eqd
'{41d0}
Ed
l5.@
:t(ll@0
,2rtrc
!E;0I0
fio00
ltl;tho
158.000
1083
REDEVETOPI/IENT AGE NcY IIEM SUM6ARY
ii requha sbnlficrytt uapltalinvestment end ls inlonded Ll
oOn ,p as an oflldd H*emirrt of pti$li pollcy rgardlng ldhghtstgs ptyslcsl dot eloplileh! ln lliS G|, of
Mte*il Baach and lhe Mlamltli#ch RDAi citahil$hk-gpthrl0es lbr lhp upmmlqg fitn y.Hr psflod, F,Y
2btglt4 * Eot7lrs. Thp llmt ygfl' ol lhs OIP b rqmmrnsndd tur approval as tha FY 20lEIl4 9aprnat
Budget;
The Propmod C{yocnbrRDACapllat EudgetforFY20l3ll4 thoiefora tobls$18.954 millO--n qnF_lttg
proppssd FY 2013114 Canhl puobelfior ths RDA Andror GlaragB tolalg $485i000. Tho FY 3013{14
oroisieA ,Csollsl Eudoct lridudes ainroprlathns for lhe construo{on of the Colllrp Pa* Garage; ttr Bare
iiluieum Inrctpr Apirafn; lmpronimdnts toEuoild Averiue, OtyC.onter 0E arxl Llflcoln BEd l,/hetm
cotiiml[so anh tre proEoqBd cedtat Eudget and OIFrneeilngs of lha Financa'ard
CltyGier*'* OfrlcetosltlsflscTraeHnqi- -nl
_ r:teffiNoruzor rtsriptrmibdr *rRDn cadtd Bu&sr s0fisnr_fy. ,a^14.doo
(g MIAMIBEACH AoEr{ErrrEii I E--'"'ilGw
1084
l'
I
RESOLIffiON ilO. 6s$-20t1
A RESOLTMOH OT THE CHAIHPENSON AT{D iIE$BER8 OF THE IIIAiIII
BEACH REDEI|ELOPMEHT AeEl,lcYl ADOPTNG AND APPROPRIATIre
THE MIAMI EEACH REDET'EIOFIIIB'ITAGENGY CAPITAL BUreET FOR
FISCAL YEAR (rY} zf,IilT4 AND AOQPNNG IttE GAPITAT
lnpFovffiENT ptAH FoR 20t3r{4 THRoucH .7J,tz/t78.
Ilrl{EREA8, fnte1dtgll4-.2017!18CapltdlmprovementPlan{ClP) fortrg[trlamlBeach
BedeveloptnEttAbsncy(RDA) ieqfiyeyearplanforpuDlicifip-rovenents-inf,captalexpa.rdilurce
by the RD& and
WHEREAS, thn*dooumant ls an ofiiclalstatementof publlcpolicy regardirq long-range
phyelgql dernloprirant tn tre CE of Miami Beach; and
UVIIER.EA$T the Proposed Capltal Bu{gat for FY 2A$n4 ftemlzes proiec't funds to'be
committed during the upconing flscal year detalling expanees foqploJect oomponanh vlhloh lnilrde
archlted ard enginaer, corwlruction. €gulpment, Art ln Publlo Placei, and other proJect oostq snd.
WHEREAS, on Juiy.I0, 20i3 funding nesde for il,re ft z}lyl|,Propoged Capttai
B.udget end GIF {nre decusaed el a maatlng of tre Clty of Mhml Beach Flnance and Gityrida
PmJectscommlttee md the fundlng reoommendgllqnq are refleo{dl and
, . !,lIllEREAq th6 proposed RDA e#[el Budggt,for FY 2}1gtl4 totals ${7.$04,000,
lncludlng 167.000b Reneryvaland Roplawnent profac{si and
, .WHEFEAS, fte.pmpoeed Anchor Garaga Capltai Budget for FY 2013fi4 totale
l$466O00, lncludlng S220,000 ln Reneural and Replacenrent projects and
WllERE tS, a oopyof lhgpropoeed prdeote to bo appropriqted wilh hp Fy'?013/14
CapltalBu&etand.theClPforFY20l0/l4through?0-17l18 arepiovfded lnAtlaehm€ntWtwto,
NOTV, THEREF1ORE BE IT RESOLVED EY TIXE GHAIBFERSON AIID IJIEIIIBERS OF THE
IfiAUIIEEAQH BEDEVLOPIIIEHTAGENGY,thattheChEirpsreonand[rfenrbErshsrpbiadoptand
sppoprlple,_th-ltdsrnf Beaph'BqA'Capltal Budgetfor FYe013/14 and thB CIP for FY 2olgfl*
through 2017118.
PASSED AND ADOPIED THIS SOTTIDAYOF
lil,mr
SECRETARY
TrlAoEHDituottlsodqrutr rOnpe rytut pr4ir tcrd
1085
E MIAMIBEACH
Cl.ff ol tl-fifllf 8rcdr, 1790 Convcotioo Cinhr D1irp1 Miomi lrodu Florldo 33139- tyyr-v.mlorrlhqJrfi.gov
COMI\^J$SI ON MEIViORAN DUM
Qhqipefson lulatff Hanera Bower and
RedeudopmsntAgency
.Jlffirty L liqales; Execullvc tllrsctor
DAxEr $optemter'00,2CI19
SU0IGCI: A RESOLUTION OF THE
BEAGH REDEI,EL.,FIIENT AGENGY, ApOP. nils ANB AP. FRoFRIAIIHG TTIE
IIIAiII EEACH REDEI'ELOPIIIE$I]AGEUCY ENFTEL BUDGET F6R FIsCAL
YEAR (FN I ff{ { AND ADOF?IN6 THE CAPITAL IIiPROVEilIENT F[Afl FON
FY?0!S{14* 20t7l!,8
f; EFll{EIsArgU{ REg gilri.tEn p, atr oH
Adoplthe ierolrttqn
B+CKGROUqp
Pfannl4g for oapltal lrnnmrremEnb ls an ongolng procegs; aB fie€d6 change wlhin tte Cftfs
Redgvalopmstrt Ql$trid faDli}, capltal programs and prtorflies mgst btr adJueted. Ttra daEtal
,lmprovgmpnt Plan ('QlP1 betlles:aB ttie prlmary plannlng toolfor pyebmadqally ldenllfylng,
nrtorHflry,anl agslgnlng funds to orht€l Clty and RDA caplhi developmenti lmproromont6 arrd
assoclated needs.
Tlg IDA oaplUl [tpmucmont pian prqqegg:beo?n ih the epring yvt]En 6lt departmenh erE
asked Iopnopamcapltsllmprovemsnt upd-atee and requeots on thed-apartmenfs-ongolng and
propoE6{ capftd DrDjsce. ldlvldud departmenh prepare submittds ldenlifoing pate0lial
fundlhg $ourcqs ahd requeslfirg o6mmltnent of funds ior thEir 6rppc0vE proJecte. The
propoepd doqurnenlh rsyfe\.i,e{ Ey.Sre CIU Mansgpr, f,nd uironapprova!, iE submltled lg the
tlnsnog qnd CjtywtdePrp.leclp CornmffiEeand lho Glty CommissisnlRodevelopmentAgency
Eoqrd for fmal approvat aod adeptfrrn
The QtP rlas creatbd'qe a plan ,top pro.ladsthetF$rlrio sldnfifcant capht hvBebnent and tE
Inbnded to.s.srvo aeanofflolel slitertrentof puhltc pgflcy rsgar"dlnO iofrg+sqge physlqal
deuelopment in the Clfy of Mlaml Baach. Ttre Clp apec'rtie6 and A"eecrltesihe Cityi obUtrt
protegt plan.and eat$liehes prlorlties fortre upmnilng ffrrayea partod,
lndlvldual prujecisulflrin rmlghbo$ood arbae hbve bean oomblnedto creete'packag6s'of
prolede lhat address &e naighborhood nqgds for hfrastruclure upgradee, taffii flqv,
onhencfinenls, eE fhB COfnilphetrdve approadr mintmi-i+ Asrugbne and gdrsabs oost8
mvings. The ;projmts eddreee many,naeds h dlfferent areaa.of the Oity lnduding;
neighborhodd snfiArcerriinti quch a*'landscapirg, iidourdk restoralisn. traffie cafriln!,
llghfl1g, parklrg, umlarand seurreraysiem improvemants, drainage Fnprorrerhents and roadwiy
reilrf&lnEfeoonslrucfioft pefl( rsnovalion and upgradeq ahd conskudlon or ft]novetion of
publichcilftes
Miaml Beadr
AI{D IITEMEER$ OF THF IIIIAiIII
38
1086
dg Aniindsdwt Mdrtri}|ryf,d,tm
Eo{pl.t tbn Adqdhc rY 20t?lt1 @pttal Budget illry Zot\tt$ - 2a17/iE Ctp tut lhe frp.A$effiobsrfi,Za/B
'Pagr,2
IheAdm.lni*dtanirpree.ndngilr.eFrupps€CFy20iUl4capnatBudgdgndfteupd&dClp
turFY30!311{-2!1718" fqflowlng acomprehenslrerevtewbrma cptoineureh.althe pls{t
'aoorrratoly reflsstE all proibct budgile, fundtns *urc.r ana oo*mltmiinii, lbr;d;fr; by i{;
Gity Gommhsion.
ANALYS|6
Cepltat lmpi{iyament PIan,
The FY 201il14-2017118GIP forfte Oltyof Miami Beaoh:and the RDA le afrveyearptanfor
publhfrrrprovemer.rts end ctiplhl eryandiftnss by ths Clty and theRBA. Ttrle dodqmeht Is an
ofliclal sh$-.-qnent of pubJto pgllcy re,gardkrg loni*snge ptryeicat devalopment tn tre Cnvc
lllqq aeeqlt pn$ lhe"BPA" Te qppp.,qa cqpllat lmprovement pt6n hEB bean updar€i to
inelude proleo{strettrylll be actlve dtiring Fv Zdi 3114J,2fi1ill*.
llle Plan hac Qe4 qp{aEd to lnplude addlfibna! tundhg }ources hdt hava becorrra arafiabtq
SflgBi t1 nroiea fimlng, ard bthir a{iustmente to ongohg projects aE the)r have beoome
belter dafined. Certaln adjustmente have been made to rsneA projEds ttra have Oeen
roTnffggr.d, re-fifled comihEd wtth or oeparated fiorn othei pmFcts analor pdadg*rperili
Bnd are lhe resull of s eompr_ehenelw mview of the plogram to lnsure thatour plan accur*taly
rEfleott all prdeot budgetq fundtng strurcei ana coinriritnonte.
Avallable Capltol Fundlng
Bappd orn lh6ao{g oertffiadTdxabla v:tuo of the glty center RertevetoFjrrrentArea FDA),ptqpgryyshehaverlserrt;t%torFY.zofi ti4.tuetoflpdriUngcoste,$;nOAwrilse'drirti,
${{t$541230{,mnlion ]n anllabte tundlrp for snpitql proiegiq iri the Chy Oenter RDA.
Prop*ed RDA Gaplhl Budget
Shops Fund, Whldr lssepapb booausg lt lE notlnoPg Bnq P€lxlfE 9aregF Fund, Whldt ls sepapb booausg lt lE not part of tte T.ex lncrornent.lqndin$ oIlha.TDA haeproposed capltElprolqeis of $p40,000for piraeo ltofthe upgredetor:lWng orma.]$rr\ niEprEposed Gapltal proreote of $240,000for Phaeo llofthe qpgradqto
tho gtted Ph*ing reVenue eontiol syalem and $25,000 tdi a ssaEe etrudural en'olrreErino
*uoy. |I qtso hac FY 2pl.?.r14 mnqryal undrepHeeme[t n6ed$ 6iam $220,000 ard 6zo$,Ood$20S,000
fpr.capltal prc. Fats ln {h*.Anohor Oer6ge,
COHOLUSIOM
I"ttei4r-nln.Ehation recomtrnnds qdo.!ilhrr of thg affia?red Besotufipn, whidr estabtl$hs the
-Cl:tpBl-Egq4-tr-the RDfif67 FY201A/14 end the Oapftattmnrowmanr progrem torry201911q20t7fi0.
JLM/KfifiA$
ttAGEt\rDAl2ot3t8odaffior f,tr&OA grptal budbc-t mcmo tq_fi .doB
39
1087
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gr{qelr9
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rrnBfl{n
phEa?6,
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@aoirrrgd!ffii
t Gob Hd lrdbiihC.Uu(h rVdr
Ufi h Rr. lt| F.rr{*n ll4$ LlUst,
[r.diordt|nrar{lo rf tt
urn 0iidrhliE F.&t8h0dlmi
rhrh Bril u.iL.Pfri Srdr'
,llolh.srdttrsdq ltrFl.rtarrllr. luf.da fi,eA{tr }odxnErclr&rqa$$l(i[dfiti.
lft nr dv.thrn ir( Cn iii R.t Sl*
.af,d en, ddlrB.. l,i[ri q.43r
wiCrcifl Phli$lofritr{elnq{iqttl'
flrr.o.l|l r fb0nqr,.di.Obit[q$Ai$dw)gdii
re[lr*trr ?nomdtl?.,&po@!
B6ad;gr :R-iG.arrdAi).hallhdiRa
rr.rtit4co 6irrd{drdrdc.{0rpr$lcrrdtvcilirtk3 lhfin iieradu|rl]*sim Ub*ero0AirynddhFqrilrr
a{tn:
.Ot f,dA.&icnor0nai*rttnrdN*itD .tw.gti|Fr8$*jr!!iliiil.E|{trti.rld. fiAo(gqdEa,ll4nlitttoltBtS,.lrrrgqr., &&qrerairp.indtef.0t
trlftr {k Aldlf g!ilBF{oaRelcill-f,CB
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rldrcE .fndE$o,1fhqnl3ntt{Lo,iait
!.!ctEot Ctortrctqfiilsrooryr&n
FfEfrfrrot F{rofbslPoFr[dlhrrnocted R.riur,lcofinlhpP.lr.l.!
timr
iv iuq4UrF.nnoralgrDlofitiri: qh.rdsrETdrtfirbq8r{Er
{qd,ir!.Pt .S3-llm.babrorEtD-FtFa,
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.e.{eo
I
40
1088
RESOLUTION NO 5e6'20t8
A RESOU'TION OFTHE CHAIRPER$ON ANDIfrEIITNCNSOT TITC
BuAlll BEAcH REDEITELopMEI{T Aq$tcY noopnNs ef.ln
AFPROFRhNNQ TUC.ry5ST AMENDMEIIT TO TTIE OPERATINC
euoaer roCrue cnv cENTER RmEvEtopuENT AREA, FoR
FTSCALYEAR 201:2IIg,
tilflEREAg, the:BItyCenter RedevelopmentAi,es SudgetforFiuoalYearZ0lz/t3
was adopted on $eplemreritr,a}t?vh Raeoluffon No.58&2012i and
WHEREAS, fhe proposed City Center Redevehpment Sraa Budg"t reflgots
antiolpabd constrqction pmJeot ooets tn addi$qntoopenaflng and deht servioe 6osh,for
theffsealyear; and
WHEREAS, Sre Redevetopment Agency adopted Resolution No, 59t6;2013 on Jrine'5, 2013, eetting :a puhlio hearinb tg consldei'thq first Bmehdment to the FY 201tA1,9
operating budget for the Clty Oenter Redevelopment Areat Fnd
,W{EREAS, tho Admlnishation reoornmende adopting and approprlating Ure Flrst
Amendment to the RDA Budgel to reflect inerease expehtitures rdattue to the Conventio4
GteiE;dn;imeni inl Efririston Fffiaana ieiiestate hxes assoclited wlttr S4o esd
S$eet wtrldr wlll,be offEetWth lncreaeed rpsort.tax rotpnugr as:wellgq fundp esQrowed for
the 2011 real setste taxesbrS40 23!d $traet,
Now, THEREFoRE, BE lr DULY RESOI-VED BY THE CHAIRFER8ON AND
|IIEMBER9 OF THE il[]AilIt BEACH REDB/ELOptrlft{f,A6ENOY, thstthe ghElrBenson
and Mernbers of the Mlaml Beactr Redeveiopment Agenoy hereby adqpt and approprlate
tlrs frrst amegrdmeil'tb tho opeating budget for the Clt[ Centet Redevelopment Ar9+ for
Fie0atYear 2F121'$,approprlafing an additional$528,720. , '
orighalAdopted Budget
Proposod Anenrlment
Propomd Arnended Budget
$6,n1000$ s6g,00o
$s7,340j000
.FA5SED AND ADOPTED .If{ DAY OF JULY,
AtrTEST:
It
41
$$!.H
- 'ttt\t'}
Date
1089
@ndms*roTBOprdng Budge! FsThe CW
entAgercy Adoding And
Redareloprnent Area, For
Ditr {S'qireJs,.Envlio.nmenhl 8ctrn. atc,}
2T,zoti;wtttlhq cdonthn of h.ieatsftoil fuo. Ea,s-loia, Tne-ltedEvabpmmtassrcfl adolFHResblq[m Ns' 696'
aOiS on J$E 5, 20!3, Betlng s put& treatrg b eonsldertha firs[amendmentto he FY 201U13 operatkg
hudget fior fire CX$ @iur nedevddpruoht AlEa.
Tfie.eriandlin6htt(lthdoper .trlrrg budgotftrCWGsflterneder/elopfl6ntArce lFbdhg donshudd'?ss.lnorse$d
ercensesattrbubdntrbAsro**NdgrS,ttai€ElcAdvbotyGroup(sAGlwhlchlsbranqmountnotbcxed
$ghl;Ug.ntnroush.,uhs2-014. ThsRadevol@-mentAgeriuybu4''0eted+2$0.000lnftsFY2olzltbtdgetasa
plaoehOo.oto.tunl.thtsasrcqrnentp$orh nessisAhg EnO edFovlrrs pham I ojsA9lpcpntrad Thercfore, an
iOtliional amount.of appro$maui, $75;0001s .requfrid lO frrnd tti-e Ematntrtg pailott of sIGla ggrg€mgnt
ruOtlonal laOat qerbei'ard afso aiilloiipdieU from o'uhldE csinbel to dnaft Ure dgttekiptnent.Agreomsnlgroud
leaaes, as wsllas oher rahBtl iohtrgdG teqUlred for tha Cdfirrenllon Gedbr Enhanusral't,end Ev.panelon
PmJeA
Impact $umfiarp ThE amendmcflt ie !0 ddr# lm*easod expenset rlfrldr wlll,be o$et wlth
t
I
t,
MIAMI BEACFI REDEVEToPMENT AGENCV ITEM SUMiT1ARY
,ir
42
1090
Gilf of mH 1q...6, [700 (htt snllon G$or Ddw, Mool Bcoch, Floddo 33 I 39, nrww,mhqlboldlfl.go
R E DEVf LOPMENT AGEN CY i/TEMORAN D UM
Io:. Chafperson End tUentbdrr.of ha Miqml
Ff,om: JilnmyL,Molalas, ExecutiveDiredor
DATE; July f f,ZqG
st.BJECt, A RESOLUTION OF THE
PUELIO HEARING
AND UEilIEENS OF TTIE TfiIAMI BEACH
REDET'ELOPTIENT ACENCY AEOFTING ANO APPROPRNNNG THE FIRST
AITENDUEI{T TO THE OPEREIruO BUDGET FOR TTIE GIIY CEiITER. REDEVELOPMEUTAREE, FOB FHAAL VTARgOTEIIS.
AbIiINISTRANON RECOIIIdIEIIDATION
rAdoptthe Reeoluffon.
KEY INTEN9EP OuTQo,trlE qUPPoBGp
Improv-e tre Cftfe tnanoiat fieelth and mdlntsln ovgrell bond ratlpg,
ANALYSIS
Thebudgethrthe Clty Center RedevelopmeniAraa (RDA) torfboal Year20lZ13was approved
on September 27'2072wllhthe idoption of Reeplution No, 5BB-2Q12.
' Oty Center Rederlelop.nenl Area rEvenue sourc,ee lnclude efiy and Gounly Tax lncranrent, Resort
Tax cdntibutlons; a 14 mlll lerty aet aslde for thE ehildren'e Trust pursuant tq an lnlo1locel
Agreemml, d6ted Argust 16, 2004 between lhe RDA,.the HV of Mlsmi Beach and hrllamf,Dade
,C6un{t afltl an e$knatq lnto.ieBt lne$rDs.
'Ctty Centef RedevdopmentArea.e.xpenSepltrdude oommur-dtypotid;rg ln_t{iqtlv6s ln CittrOenhrtr
rpntirue to prn.ide enhansed hvels of sqffing:End servlqgs throughoul thE ara, capltal projeqa
and malntenance of RDA capttal prgreds. Admlnlshellw Epanse comptislng e mgnagedrent fae
allooarted tq ths Gensal'Fgnd to pay br dkecf and Indtrect $aff support for the RDA; qperallng
€xpsn8eq'? eet aelde lor omgolng planntng and con6ulting qork relatEd to tro GonvE'ltbn Center
o:eFneton.mf,sbr phe; oapital pnarrval snd r-splacement,projecte undEr gl$g00.
The Clty Ganter RedevelopmentArea alsg amually qsqumas the comblnEd debt eprvlcri on lhs
200.5 $er{s$ Bonds and lhe Parlty Bq.nds amounh rar approximhtely $04 Mllllon annudly. Olty
Center also con0nuae assumlng debl seMce paymehts on lhe por0on of the Gulf.Ereae Loan used
to payfortha Eassirluseum expanslon anO rano.vaBon dndtrdportbn of theSundhlne StatB Loan
Fiogram usad forLinootn Road lmprovemanb,
tha Redetrehpment Agencry aOoirled Resolutlon No. 5g$2fi4 on Juna 5, 20{3, oeting a pdbllc
hearlng to oonslder the fiiet amendment b lhs FY Z01ZII3 operatlng budget for the City Centa
RadevalopmBnt Arce. The amendttl€nt to the operatlrig budget ftr Clty Center Radoveloprrent
43
1091
fud hncnercft b $a FY 20r2lls tipefifdg.BMget lor Ctty @nlx Redevelopmenl Ana
,hdy tt,UtS
Page 2ol2
Arpab..bdng donetoeddJosslnorpasederqenoeBrelafingbfieComffi{lcn,CenterErflrencement
and Expanehn Proie.ot whidr.u{ll be qtftet wilh lnqeassd resolt tax lpYelna.
lncreased expons€s ars etfi&ut€d tolhe agreemeotwllh SlrateglcAdvlsoryeioup,(SAG), whiph is
for ao gaount,nd to.oeeed $3241949.41 lhrough June 2014. The Redevelqprcnt Agency
budgelcd $2F0,900,in the:,FY NIAIA budgct ar a plreeholdelte fund firh agreement prlor to
negotlathrg ard ryprovlng phaaE ll of SAG'c qonfiBol ThEreforg gn ddltlonal a$ount gf
apprordruaHy $76,000 b reqrired toftrrd the remalning portion of SAGs Fgr6em9,!t. Addtlpngl
Iegal seMeas are elso ardidpafed ftom oEh[de qouneel b drafr the d0velopmEnt agreer-nent ground .
leaies, as uell as olher relaEd contre6 requlrsd for lhe convention0emter Enlunoement and
fxpanalimProjeet
The Redeveloprhent Agoncy also e,esrienod unanticipated expensm asspdated wlh th'c pflyt?tffit
of laal eetate taxes fpr tha prcperty located at,&40;238 Street the stte of the proposed Coillng Perk
Galale. Ag you.mey noatr; hts prop;rly'was purchased frorn ArrerloEn Rlvlora Real Estate
Oomparry (Amerlcan.Btvler4 for the dgtrdopment sf tfre Colllns Par* Garqge, As part of lhe
Furehaee ag_reemen[ wlth Amerhqn FlvlEra lha Glty enie-red lnto a Parklng Pormlt Agreement wlth
Arherican,Rivlera for lts oonUnued use of $e'qurface parklnglots al thls Jooatlon, Pursuant to
Sgdon B of thE Agreem6nl, AmerJcan Hiviera is lequlred to pay all real eetate taxes _that ara
Iinpoged soahr$t tho proputy. Hounver, real eEtate bXes rrtrer.e ngi pq[d for201 t arld 2012r whlch
requlred tha Redavelopment Agency to pay the taxes and proc66d to losud American Rlvlera a
Notlce of Termlnati,gn. Amerlcan Blvlera made a aettlErnent offer urhlch was te]Eoted, Tha Oty
Attorney's Office and Ore Adminlstrallon Gonfihue to negotlatlons for B set0amenl
Thaig experiges dre off-aat b!frrnds $24,104.4Q, whldr were e$crowed at dosing for 201'l prcporty
taxes fbrthe property located at &40 28rs StiaeL Addlfiohafly, Re$trtTsx ftevgrue h prbjec{edto
Fe $6,221,848.urhlchls $837,848 morethanthe budgeted amountof S4,684$00"These addltrbnal
revenues will be used to qarar lhe real aslata taxee for 340 23N Street and addltlonal alnsulllng dnd
leggl ocpgnga forthe Gonvenllon Oenl6r Ehhancsment and ExpanSlop ProJect.
Attgcfied asExtriblt"Niea sgmmaryof RDf b',rdgEtwhtctr reneoFttreoriginaladopted budgetand
&e propoged amended budget
cONGLUSION.#.
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