97-22543 RESO
RESOLUTION NO. 97-22543
A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF
THE CITY OF MIAMI BEACH, FLORIDA, APPROVING AN
INCREASE IN THE SUBSIDY PERCENTAGE FOR SENIOR
CITIZENS' AND STUDENTS' THEATER TICKETS AT THE JACKIE
GLEASON THEATER OF THE PERFORMING ARTS (TOPA), BY
APPROVING AN INCREASE OF THE COMMUNITY BENEFIT
FUND SENIOR CITIZEN/STUDENT TICKET SUBSIDY FROM 75
PERCENT TO 80 PERCENT OF FACE VALUE, UP TO $35.00.
WHEREAS, in 1983, the City established a $1.00 surcharge on all tickets sold at
TOPA, to be deposited in a fund administered by the Community Benefit Committee
(CBC); and
WHEREAS, the monies in this fund are used to subsidize not less than 50% of
the cost of theater tickets, up to a face value of $35.00, for senior citizens/students of
Miami Beach; and
WHEREAS, subsequent actions by the CBC and the Mayor and City Commission
have increased this level of subsidy to its current 75% of face value up to $35.00; and
WHEREAS, the CBC has reviewed the current financial condition of the fund; and
WHEREAS, the CBC has approved a recommendation to increase the subsidy of
these tickets from 75% to 80% of face value up to $35.00.
NOW, THEREFORE BE IT DULY RESOLVED BY THE MAYOR AND CITY
COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, that the Mayor and City
Commission approve an increase in the subsidy percentage for senior citizens' and
students' theater tickets at the Jackie Gleason Theater of the Performing Arts (TOPA),
by approving an increase of the Community Benefit Fund Senior Citizen/Student ticket
subsidy from 75% to 80% of face value, up to $35.00.
PASSED and ADOPTED this 8th day of
APPROVED AS TO
FORM & lANGUAGE
& fOR EXECUTION
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CITY CLERK
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CITY OF MIAMI BEACH
COMMISSION MEMORANDUM NO.
105'7-91
TO:
Mayor Seymour Gelber and
Members of the City Commission
Jose Garcia-pedrosaj}
City Manager f1!.....
RESOLUTION!, APPROVING AN INCREASE IN THE SUBSIDY
PERCENT AG~ FOR SENIOR CITIZENS' AND STUDENTS' THEATER
TICKETS AT THE JACKIE GLEASON THEATER OF THE PERFORMING
ARTS (TOPA), BY APPROVING AN INCREASE OF THE COMMUNITY
BENEFIT FUND SENIOR CITIZEN/STUDENT TICKET SUBSIDY FROM
75 PERCENT TO 80 PERCENT OF FACE VALUE, UP TO $35.00.
DATE: October 8, 1997
FROM:
SUBJECT:
ADMINISTRATION RECOMMENDATION:
Approve the resolution.
BACKGROUND:
The City, in 1983, in order to provide better access to culture for its senior citizen and student population,
established a $1.00 surcharge on all tickets sold at the Jackie Gleason Theater of the Performing Arts, such
surcharge to be deposited in a fund administered by the Community Benefit Committee of the City of Miami
Beach. The monies in this fund are used to subsidize not less than 50% of the cost of theater tickets, up to
a face value of $35.00, for senior citizens and students who are residents of the City of Miami Beach.
Subsequent actions by the CBC and City Commission have increased this level of subsidy to its current 75%
offace value up to $35.00. .
Upon review of the current fmancial condition of the fund, the Community Benefit Committee has approved
a recommendation to increase the subsidy of these tickets from 75% to 80% offace value up to $35.00.
This item was presented to the Convention Center Advisory Board for informational purposes at its
September 25, 1997 meeting.
ANAL YSIS
As of August 31, 1997, the Community Benefit Food had a balance of $240,375.46. Current projections
place the fiscal year-end balance at $236,402.46. This represents an increase of $27,771.36 over FY95-96
end, or over 13%. This followed an increase throughout the prior year of over 27%.
In analyzing the effect of the proposed increase in subsidy for the first eleven months in this fiscal year, the
subsidy boost of 6.66% (75% to 80%) would have cost the fund an additional $13,011.62, or approximately
50% of the fund's appreciation in that time. In light of this fact, it is evident that the food would be able to
absorb the proposed increase in subsidy and still appreciate, assuming current trends continue.
CONCLUSION
This resolution should be approved to effect an increase of the Community Benefit Food ticket subsidy from
75% to 80% offace value, up to $35.00.
JGP:MDB:DT:dt,Ulp.
Attachment
F:\CMGR\$ALLlCOM-MEM.97\COMMCBC$.919
DATE
~1A
10-8-91
AGENDA ITEM