335-99 RDA
RESOLUTION 335-99
A RESOLUTION OF THE CHAIRMAN AND MEMBERS OF THE MIAMI
BEACH REDEVELOPMENT AGENCY, APPROPRIATING $317,522.11
FROM REVENUE DERIVED FROM THE OPERATION OF THE ANCHOR
SHOPS AND PARKING GARAGE, IN ORDER TO PAY THE 1999 AD
VALOREM PROPERTY TAXES IN THE AMOUNT OF $317,522.11 ON THE
ANCHOR SHOPS AND PARKING GARAGE.
WHEREAS, In November, 1999, the Miami Beach Redevelopment Agency ("RDA")
received the first combined tax notice for Ad Valorem taxes due on the Anchor Shops and Parking
Garage ("Anchor") in the amount of$3l7,522.11; and
WHEREAS, in order to take advantage of the maximum four percent discount for early
payment of the Ad Valorem taxes, the RDA had to make payment prior to December 1, 1999; and
WHEREAS, based upon the timing of the receipt of the tax notice from the Miami-Dade
County Tax Collector and subsequent payment thereof, the RDA was unable to appropriate funding
prior to making payment.
NOW, THEREFORE BE IT DULY RESOLVED BY THE CHAIRMAN AND MEMBERS
OF THE MIAMI BEACH REDEVELOPMENT AGENCY, that the Chairman and Members of the
RDA authorize the appropriation of $317,522,11 from revenue derived from the operation of the
Anchor Shops and Parking Garage in order to pay the 1999 Ad Valorem property taxes on the Anchor
Shops and Parking Garage,
PASSED AND ADOPTED this 15th day of Dec. ,1999
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APPROVED AS TO
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& FOR EXECUTION
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Miami Beach
Redevelopment Agency
1700 Convention Center Drive
Miami Beach, Florida 33139
Telephone: (305) 673-7193
Fax: (305) 673-7772
REDEVELOPMENT AGENCY MEMORANDUM NO. 99-"1~
December 15, 1999
TO:
Chairman and Members of the
Miami Beach Redevelopment Agency
FROM:
Sergio Rodriguez
Executive Director
SUBJECT:
A RESOLUTIO THE CHAIRMAN AND MEMBERS OF THE MIAMI
BEACH REDEVELOPMENT AGENCY, APPROPRIATING $317,522.11
FROM REVENUE DERIVED FROM THE OPERATION OF THE ANCHOR
SHOPS AND PARKING GARAGE, IN ORDER TO PAY THE 1999 AD
VALOREM PROPERTY TAXES IN THE AMOUNT OF $317,522.11 ON THE
ANCHOR SHOPS AND PARKING GARAGE.
ADMINISTRATION RECOMMENDATION:
Adopt the Resolution.
ANALYSIS:
In November 1999, the Redevelopment Agency (RDA) received the first ad valorem tax notice for
Anchor Shops and Parking Garage in the amount of$317,522.11, based upon a taxable value of
$12,707,065. In order to take advantage of the 4 percent discount for early payment of taxes, the
RDA proceeded to issue payment to the Miami Dade County Tax Collector prior to the December
1, 1999 deadline, resulting in a savings of$3,307 for the RDA. Since the Anchor Garage is new to
the tax rolls, it was impossible to appropriate funding prior to making the payment, due to the
unknown amount of the assessment. As such, funding must now be appropriated from revenue
derived from the operation of the Anchor Shops and Parking Garage for payment of the ad valorem
taxes.
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