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CRA Resolution 040-2025 RESOLUTION NO 040-2025 A RESOLUTION OF THE CHAIRPERSON AND BOARD OF DIRECTORS OF THE NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY, ADOPTING THE FIRST AMENDMENT TO THE FISCAL YEAR 2026 OPERATING BUDGET FOR THE NORTH BEACH COMMUNITY REDEVELOPMENT AREA. WHEREAS, in accordance with Section 189.016, Florida Statutes, the governing body of the North Beach Community Redevelopment Agency, operating as a special district, is required to adopt a budget by resolution each fiscal year and may amend the budget at any time but not later than within 60 days following the end of the fiscal year; and WHEREAS, the operating budget for the North Beach Community Redevelopment Area for Fiscal Year (FY) 2026 was adopted by the Chairperson and Board of Directors of the North Beach Community Redevelopment Agency on September 30, 2025, through Resolution No. 038-2025, and also adopted by the Mayor and City Commission of the City of Miami Beach on September 30, 2025, through Resolution No. 2025-33949; and WHEREAS, pursuant to Section 163.387, Florida Statutes, on the last day of the fiscal year of the community redevelopment agency, any money which remains in the trust fund after the payment of expenses may be appropriated to a specific redevelopment project pursuant to an approved community redevelopment plan; and WHEREAS, based on the preliminary FY 2025 year-end analysis for the North Beach Community Redevelopment Area operating budget, it is recommended that $2,954,000, which is comprised of $2,808,000 of unspent appropriations for projects that were budgeted in FY 2025 that have not yet been completed and are still ongoing and $146,000 in additional interest income that was accrued in FY 2025, be carried forward and appropriated in the respective FY 2026 North Beach Community Redevelopment Area operating budget. NOW, THEREFORE, BE IT DULY RESOLVED BY THE CHAIRPERSON AND BOARD OF DIRECTORS OF THE NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY, that following a duly noticed public hearing on November 20, 2025, the Chairperson and Board of Directors of the North Beach Community Redevelopment Agency hereby adopt the First Amendment to the North Beach Community Redevelopment Area operating budget for FY 2026 as set forth in the attached Exhibit "A." PASSED and ADOPTED this o?0 day of /�0�/�ryll0 P� , 2025. teven Meiner, Chairperson ATTEST: f\' .-,.. _�v�... .-.J .:J Rafael E. Granado, Secretary FC�R��':&LA�GUA�E ``�,,,,,.�,�,,,, & �FOR EXECUTii)N ..,, _=.;��-� � �y�-, _�-. -, _ ��`�:, �; ' � �� J� � '•.1NCOR?�ORATED: � Jf /D 7�� '%��. , :;��n: Rer�e:,e'or_,,,c�.�tArency Uate s 1�S:�i - '�,y,�C•I��2`,�`�°� L;<,...� a� Counsel Exhibit"A" North Beach Community Redevelopment Agenty North Beach Community Redevelopment Area Operating Budget FY 2026 Carryforward Carryforward FY 2026 Adopted Budget Encumbrences Appropriations Other Amended Budget from FY 2025 from FY 2025 Revenues and OtherSources of Income Taxlncrement-Ciry 5 1,732,000 $ 1,732,000 Proj Adjustmentto City Increment $ (39,000) $ (39,000) Tax Increment-County $ 1,353,000 5 1,353,000 Proj Adjustmentto County Increment $ (31,000) $ (31,000) Interest Income $ 66,000 $ 66,000 FundBalance/PriorYearSurplus $ - $ 2,808,000 $ 146,000 $ 2,954,000 TOTAL REVENUES $ 3,081,000 $ - $ 2,808,000 $ 146,000 $ 6,035,000 Admin/Operating Expenditures CMB Administration $ 118,000 $ 118,000 CauntyAdminFee 5 20,000 5 20,000 Total Admin/Opereting Expenditures S 138,000 $ - $ - 5 - S 138,000 Project Expenditures Small Business Development 5 297,000 5 297.000 Beautifiwtion $ 301,000 5 301,000 Arts&Culture 5 242,000 $ 242,000 Enhanced Services CommunityPolicing $ 290,000 $ 290,000 Code Compliance $ 182,000 $ 182,000 Community Cleanliness $ 182,000 5 18z,000 Total Project Expenditures $ 1,494,000 $ - $ - 5 - S 1,494,000 Reserves,Debt Service and OtherObligations Set-aside forAffordable&Workforce Housing 5 363,000 5 1,867,000 5 2,230,000 Set-aside for Future Projects 5 1,086,000 $ 941,000 $ 146,000 5 2,173,000 Total Reserves,Debt Service&OtherObligations S 1,449,000 5 - $ 2,808,000 5 146,000 S 4,403,000 TOTAL D(PENDITURES AND OBLIGAT10N5 $ 3,081,OOD $ S 2,808,000 $ 146,000 S 6,035,000 Revenues Ixss Expenditures 5 - S - S 5 S - North Beach Community Redevelopment Agency (NBCRA) 2 NIIAI� IBEA� H NBCRA MEMORANDUM TO: Chairperson and Board of Directors of the North Beach Community Redevelopment Agency FROM: Eric Carpenter, Executive Director DATE: November 20, 2025 TITLE: A RESOLUTION OF THE CHAIRPERSON AND BOARD OF DIRECTORS OF THE NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY, ADOPTING THE FIRST AMENDMENT TO THE FISCAL YEAR 2026 OPERATING BUDGET FOR THE NORTH BEACH COMMUNITY REDEVELOPMENT AREA. JOINT CITY COMMISSION AND NBCRA RECOMMENDATION The Administration recommends that the Board of Directors adopt the attached Resolution. BACKGROUND/HISTORY In accordance with Section 189.016, Florida Statutes, the governing body of the North Beach Community Redevelopment Agency, operating as a special district, is required to adopt a budget by resolution each fiscal year and may amend the budget at any time but not later than within 60 days following the end of the fiscal year. The operating budget for the North Beach Community Redevelopment Area for Fiscal Year (FY) 2026 was adopted by the Chairperson and Board of Directors of the North Beach Community Redevelopment Agency on September 30, 2025, through Resolution No. 038-2025, and also adopted by the Mayor and City Commission of the City of Miami Beach on September 30, 2025, through Resolution No. 2025-33949. ANALYSIS North Beach CRA Revenues Revenues for the North Beach Community Redevelopment Area are mainly comprised of City of Miami Beach (City) and Miami-Dade County (County) Tax Increment funds. North Beach CRA Expenditures Expenditures for the North Beach Community Redevelopment Area include project-related expenditures that are allocated for community policing initiatives, enhanced levels of Code Compliance staffing and services, and additional cleanliness and beautification. Also included are expenditures for a Commercial Fa�ade Improvement Program to improve area aesthetics and promote business attraction and retention, a Residential Property Improvement Program to promote the maintenance of naturally occurring affordable housing stock and resiliency, Arts and Culture related tourism and branding, and small business development. 81 of 103 Other expenditures include administrative expenditures, County and City administrative fees, a set-aside for workforce and affordable housing, and a set-aside for future projects. NORTH BEACH CRA OPERATING BUDGET AMENDMENT Pursuant to Section 163.387, Florida Statutes, on the last day of the fiscal year of the community redevelopment agency, any money which remains in the trust fund after the payment of expenses may be appropriated to a specific redevelopment project pursuant to an approved community redevelopment plan. Based on the preliminary FY 2025 year-end analysis for the North Beach Community Redevelopment Area operating budget, it is recommended that $2,954,000, which is comprised of$2,808,000 of unspent appropriations in the FY 2025 North Beach Community Redevelopment Area operating budget and $146,000 in additional interest income that was accrued in FY 2025, be carried forward and appropriated in the FY 2026 North Beach Community Redevelopment Area operating budget for projects within the North Beach Community Redevelopment Agency Redevelopment Plan that were originally budgeted in FY 2025 that have not been completed and are still ongoing. FISCAL IMPACT STATEMENT See information provided above Does this Ordinance require a Business Impact Estimate? (FOR ORDINANCES ONLY) If applicable, the Business Impact Estimate (BIE) was published on: See BIE at: https://www.miamibeachfl.qov/city-hall/city-clerk/meetinq-notices/ FINANCIAL INFORMATION See information provided above CONCWSION The Administration recommends that the Chairperson and Board of Directors of the North Beach Community Redevelopment Agency adopt the First Amendment to the North Beach Community Redevelopment Area operating budget for FY 2026 as described herein and further detailed in the attached Exhibit "A." EC/JDG/TOS/RA Applicable Area North Beach Is this a "Residents Riqht to Know" item, Is this item related to a G.O. Bond pursuant to City Code Section 2-17? Proiect? Yes No 82 of 103 Was this Aqenda Item initiallv requested bv a lobbvist which, as defined in Code Sec. 2-481, includes a principal enqaqed in lobbvinq? No If so, specify the name of lobbyist(s) and principal(s): Department Management and Budget Sponsor(s) Co-sponsor(s) Condensed Title Adopt 1st Amendment to NBCRA Operating Budget for FY 2026 Previous Action (For Citv Clerk Use Onlv) 83 of 103 EXHIBIT A North Beach Community Redevelopment Agency North Beach Community Redevelopment Area Operating Budget FY 2026 Carryforward Carryforward Encumbrances Appropriations Other FY 2026 Adopted Budget from FY 2025 from FY 2025 Amended Budget Revenues and Other Sources of Income Tax Increment-City $ 1,732,000 $ 1,732,000 Proj Adjustment to City Increment $ (39,000) $ (39,000) Tax Increment-County $ 1,353,000 $ 1,353,000 Proj Adjustment to County Increment $ (31,000) $ (31,000) Interestlncome $ 66,000 $ 66,000 Fund Balance/Prior Year Surplus $ - $ 2,808,000 $ 146.000 $ 2,954,000 TOTAL REVENUES $ 3,081,000 $ - $ 2,808,000 $ 146,000 $ 6,035,000 Admin/Operating Expenditures CMB Administration $ 118,000 $ 118,000 County Admin Fee $ 20,000 $ 20,000 Total Admin/Operating Expenditures $ 138,000 $ - $ - $ - $ 138,000 Project Expenditures Small Business Development $ 297,000 $ 297,000 Beautification $ 301,000 $ 301,000 Arts&Culture $ 242,000 $ 242,000 Enhanced Services Community Policing $ 290,000 $ 290,000 Code Compliance $ 182,000 $ 182,000 Community Cleanliness $ 182,000 $ 182,000 TotalProjectExpenditures S 1,494,000 $ - $ - $ - $ 1,494,000 Reserves,Debt Service and Other Obligations Set-asidefor Affordable&Workforce Housing 5 363,000 $ 1,867,000 $ 2,230,000 Set-aside for Future Projects $ 1,086,000 $ 941,000 $ 146,000 $ 2,173,000 Total Reserves,Debt Service&Other Obligations $ 1,449,000 $ - $ 2,808,000 $ 146,000 $ 4,403,000 TOTAL EXPENDITURES AND OBLIGATIONS S 3,081,000 $ - $ 2,808,000 S 146,000 S 6,035,000 Revenues Less Expenditures $ - $ $ - $ - $ - 84 of 103