98-22821 RESO
RESOLUTION NO. 98-22821
A RESOLUTION OF MAYOR AND CITY COMMISSION APPROVING
REALLOCATION OF PARKS BOND FUNDS IN THE AMOUNT OF
$1,192,583 FOR IMPROVEMENTS IN SOUTH POINTE PARK AND
WASHINGTON PARK TO OTHER ACTIVITIES IN THE PARKS BOND
PROGRAM
WHEREAS, in October, 1997 the City of Miami Beach issued its General Obligation
Bonds, Series 1996 (Park Improvement Projects) (the "Parks Bond"), in the amount of$15,000,000,
the proceeds of which were to be used to renovate and upgrade parks throughout the City of Miami
Beach; and
WHEREAS, the Parks Bond allocated funding in the amount of $900,659 for South Pointe
Park and $291,924 for Washington Park; and
WHEREAS, the City hired a Master Plan consultant to design these parks; and
WHEREAS, the Parks Master Plan program identified the need for $4,050,726 for South
Pointe Park and $466,757 for Washington Park; and
WHEREAS, the Administration of the City of Miami Beach recommends that the funds
from the Parks Bond initially identified for South Pointe Park and Washington Park be reallocated
to other needs in the Parks Bond project and replaced by TIF funds for use in providing
improvements in South Pointe Park and Washington Park;
NOW THEREFORE BE IT DULY RESOLVED BY THE MAYOR AND CITY
COMMISSION that Parks Bond proceeds in the amount of $1,192,583 for implementation of
improvements as proposed in the Parks Master Plan for South Pointe Park and Washington Park be
reallocated to other projects in the Parks Bond Program, with the specific reallocation to be
determined by the Mayor and City Commission at a later date and in accordance with Resolution
Nos. 94-21248,94-21400,94-21834 and 96-22210, which authorized the Parks Bond.
PASSED AND ADOPTED THIS 1st DAY OF
July
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, 1998.
MAYOR
ATTEST:-'
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\, CITY CLERK
APPROVED AS TO
FORM & LANGUAGE
& FOR EXECUTION
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City Attorney
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:ITY OF MIAMI BEACH
;I1Y HALL 1700 CONVENTION CENTER DRIVE MIAMI BEACH, FLORIDA 33139
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COMMISSION MEMORANDUM NO. ~
TO:
Mayor Neisen O. Kasdin and
Members of the City Co
DATE: July 1, 1998
FROM:
Sergio Rodriguez
City Manager
SUBJECT:
A RESOLU ION OF THE MAYOR AND CITY COMMISSION APPROVING
REALLOCATION OF PARKS BOND FUNDS IN THE AMOUNT OF
$1,192,583 FOR IMPROVEMENTS IN SOUTH POINTE PARK AND
WASHINGTON PARK TO OTHER ACTIVITIES IN THE PARKS BOND
PROGRAM
RECOMMENDATION
Adopt the Resolution.
BACKGROUND
The Administration, at Commission direction, has attempted to maximize the effectiveness of the
City's $15 million park bond issue. These limited funds must be spread City-wide in order to
accomplish the necessary improvements.
The Parks Bond allocated funding in the amount of$900,659 for South Pointe Park (partial funding)
and $291,924 for Washington Park. (The Parks Master Plan program identified the need for
$4,050,726 for South Pointe Park and $466,757 for Washington Park, a total of$4,517,483).
The Administration has recommended that the balance of the improvements in South Pointe Park
be funded through the tax increment financing (TIF) available to the South Pointe Redevelopment
area as those funds become available. In the presentation before the Finance and Capital
Improvements Committee on March 26, 1998 regarding the availability ofTIF for South Pointe, $4
million was identified to fund completion of the improvements. By increasing this amount of
$4,517,483, in the RDA budget for South Pointe, the City funds in the amount of$1,192,583 could
be freed up to be utilized in other parks in the City.
With regard to the shortfall in funding for Washington Park, these improvements were not included
in the TIF budget. This park is located within the boundaries of the South Pointe area and
appropriation of TIF for this purpose is a legitimate use of TIF funds.
DATE
R1L
7-( -CjJ
AGENDA ITEM
ANALYSIS
The Administration, after analysis of the needs of the other activities in the Parks Bond program,
recommends that the $1,192,583 currently allocated for South Pointe and Washington Park, be
reallocated to other City parks. A companion item on the RDA agenda today recommends fully
funding those improvements in the amount of$4,517,483 from TIF. This appropriation will enable
additional activities to be completed in other locations with Parks Bond proceeds. It is anticipated
that the TIF necessary to implement the renovations in South Pointe Park and Washington Park
should be available in the next two to three years.
The Administration presented the item to the South Pointe Advisory Board (SPAB) at its June 25,
1998 meeting. The SP AB members felt uncomfortable with the reallocation of the funds until such
time as the Porto fino Settlement Agreement is final. The SP AB made a motion that: "they do not
support the allocation of parks bonds funds from South Pointe to other areas of the community at
this time."
In summary, the Administration supports the reallocation of $1,192,583 from South Pointe and
Washingt9n Park to other Citywide park needs.
CONCLUSION
The Administration recommends that the Mayor and City Commission adopt the attached resolution
reallocating the $1,192,583 of Parks Bond funding from South Pointe Park and Washington Park
to other projects in the Parks Master Plan.
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