98-22656 RESO
RESOLUTION NO.
98-22656
A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF
THE CITY OF MIAMI BEACH, FLORIDA, APPROVING AND
ADOPTING THE PRIORITIZATION OF PARKING PROJECTS
RECOMMENDED BY THE FINANCE AND CITYWIDE
PROJECTS COMMITTEE.
WHEREAS, on January 15, 1998, the Finance and Citywide Projects Committee
re-prioritized Parking Projects to be funded with the remaining proceeds in the 1997
Parking Revenue Bond Account; and
WHEREAS, to date, three projects, totaling $5,793,740, have been approved by
the Mayor and City Commission: renovation of the 42nd Street Municipal Parking Garage;
enhancements and repairs to the 12th Street and 13th Street Municipal Parking Garages;
and refurbishment of eleven city municipal lots; and
WHEREAS, the Parking Projects prioritized to be considered for funding from the
remainder of the funds in the 1997 Parking Revenue Bond Account are: the construction
of the 10th Street and Collins Avenue Garage, the Collins Park/Library Garage land
acquisition and construction; and acquisition of land for a Hotel Corridor Garage; and
WHEREAS, the Finance and Citywide Projects Committee further recommended
that the City fund the refurbishment of the five remaining municipal surface lots using
$520,000 of funds from the 1988 Parking Revenue Bond Fund 485 and $165,000 of the
1997 Parking Revenue Bond proceeds, thereby reducing the committed amount of such
proceeds to $4,748,740; and
WHEREAS, the Finance and Citywide Projects Committee also recommended that
the City reject all bids to purchase electronic meter mechanisms, and directed the
Administration to develop a Request for Proposals (RFP) to lease-purchase the electronic
meters from incremental parking revenues; and
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 herein approve and adopt the prioritization of parking projects recommended
by the Finance and Citywide Projects Committee.
PASSED AND ADOPTED this 4th day of February. 1998.
fJ/j
MAYOR
APPROVED AS TO
FORM & LANGUAGE
& FOR EXECUTION
ATTEST:
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CITY CLERK
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CITY OF MIAMI BEACH
CITY HALL 1700 CONVENTION CENTER DRIVE MIAMI BEACH, FLORIDA 33139
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COMMISSION MEMORANDUM No.1 b - 9 C'
TO:
Mayor Neisen O. Kasdin and
Members of the City Com ission
DATE: February 4, 1998
FROM: Sergio Rodriguez
City Manager
,
SUBJECT: A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE
CITY OF MIAMI BEACH, FLORIDA, APPROVING AND ADOPTING THE
PRIORITIZATION OF PARKING PROJECTS RECOMMENDED BY THE
FINANCE AND CITYWIDE PROJECTS COMMITTEE.
RECOMMENDA TION:
Approve the Resolution.
BACKGROUND:
To date the Mayor and City Commission have approved three projects to be funded from
the proceeds of the 1997 Parking Revenue Bonds. They are: the renovation of the 42nd
Street Garage; enhancements and repairs to the 12th and 13th Street Garages and the
refurbishment of eleven municipal surface lots. These projects are estimated to cost
$5,793,740. This leaves $12,296,850 plus accrued interest available for other prioritized
parking projects.
ANAL YSIS:
''At~ the meeting of the Finance and Citywide~'Projects Committee held on T-hufsday, ,"J.b'"
January 15, 1998, the Committee re-prioritized the parking projects to be considered for
funding with the remainder of the 1997 Parking Revenue Bonds in the following order: the
construction of the 10th Street and Collins Avenue Garage; the Collins Park/Library
Garage land acquisition and construction; and acquisition of land for a Hotel Corridor
Garage. The Lenox and 17th Street Garage was discussed and will be considered
pending the results of the RFLI for public/private parking initiatives.
The Committee also considered that the refurbishment of municipal surface lots be funded
from the proceeds remaining in the 1988 Parking Revenue Bond Fund (fund 485). Of the
AGENDA ITEM (L I r3
DATE L-y--9~
eleven municipal lots to be refurbished, two have been completed, two are on hold
pending the outcome of the RFLI for public/private parking initiatives and two were
removed during the approval process. Refurbishment of the five remaining lots is
estimated to cost approximately $685,000 of which $520,000 can be funded from funds
in the 1988 Parking Revenue Bond Fund. The balance of $165,000 will be funded from
the 1997 Parking Revenue Bond proceeds.
Additionally, the Finance and Citywide Projects Committee agreed to recommend the
rejection of all bids received by the City for the purchase of electronic meter mechanisms,
and requested the Administration to develop a Request for Proposal (RFP) to consider the
acquisition of electronic parking meters on a lease/purchase basis. This acquisition can
be funded from incremental parking revenues.
CONCLUSION:
If this action is approved, the amount of committed 1997 Parking Revenue Bond proceeds
will be reduced to $4,748,740 and $13,341,850 plus accrued interest will be available to
be allocated to the remaining prioritized projects. Additionally, the City will seek to acquire
new electronic parking meters on a lease/ purchase basis which will be funded from
incremental parking revenues.
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