338-2000 RDA
RESOLUTION NO. 338-2000
A RESOLUTION OF THE CHAIRMAN AND MEMBERS OF THE
MIAMI BEACH REDEVELOPMENT AGENCY, APPROPRIATING
$92,371.49 FROM THE SOUTH POINTE TAX INCREMENT FUNDS
IN ORDER TO REIMBURSE WEST SIDE PARTNERS, LTD. FOR
THE PAYMENT OF THE REDEVELOPMENT AGENCY'S
PROPORTIONATE SHARE OF 1999 AD VALOREM PROPERTY
T AXES FOR ssm NORTH, IN THE AMOUNT OF $92,371.49.
WHEREAS, in November 1999, the Miami Beach Redevelopment Agency (RDA) received
the combined tax notice for ad valorem property taxes due on the SSDI North Parcel in South Pointe,
in the amount of $234, 136,06; and
WHEREAS, the RDA is liable for its pro-rata share as of the closing date, totaling
$92,371.49; and
WHEREAS, the RDA must appropriate funding from South Pointe Tax Increment revenues
to make such 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 $92,371.49 from South Pointe Tax Increment
funds in order to reimburse West Side Partners, LTD, for the payment of the RDA's proportionate
share of 1999 ad valorem property taxes for ssm North.
PASSED AND ADOPTED this 12th day ofJanuary, 2000
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CHAIRMAN
ATTEST:
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SECRETARY
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APPROVED AS TO
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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. 00- ~
January 12,2000
TO:
Chairman and Members of the
Miami Beach Redevelopment Agency
FROM:
Lawrence A. Levy \ \'/
Executive Director )J(}J
SUBJECT:
A RESOLUTION OF THE CHAIRMAN AND MEMBERS OF THE MIAMI
BEACH REDEVELOPMENT AGENCY, APPROPRIATING $92,371.49
FROM THE SOUTH POINTE TAX INCREMENT FUNDS IN ORDER TO
REIMBURSE WEST SIDE PARTNERS, LTD. FOR THE PAYMENT OF
THE REDEVELOPMENT AGENCY'S PROPORTIONATE SHARE OF 1999
AD VALOREM PROPERTY TAXES FOR ssm NORTH IN THE AMOUNT
OF $92,371.49.
ADMINISTRATION RECOMMENDATION:
Adopt the Resolution.
ANALYSIS:
In November 1999, the Redevelopment Agency (RDA) received the Ad Valorem tax notice for the
SSDI North Parcel in South Pointe that was deeded to West Side Partners, pursuant to the Portofino
Settlement Agreement. The combined tax bill totaled $234,136,06 of which the CitylRDA is liable
for its prorata share as of the closing date, totaling $92,371.49, As such, funding must now be
appropriated from South Pointe Tax Increment Revenue for payment of the proportionate Ad
Valorem taxes, It is recommended that the Chairman and Members of the Miami Beach
Redevelopment Agency appropriate funding and adopt the attached resolution,
LAL/C'ft1t;r~
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