LTC 078-2021 G.O. Bond Oversight Committee Motion Revised Implementation PlanDocuSign Envelope ID: FB084406-9O21-4EF8-B30F-BE310 8A77CE2
M IAM I BEACH
City of Miami Beach, 1700 Convention Center Drive, Miami Beach, Florida 33139, www .miamibeachll.gov
OFFICE OF THE CITY MANAGER
LTC #
078-2021
LETTER TO COMMISSION
TO : Mayor Dan Gelber and Members of the City Commission
FROM:
DATE:
Raul J. Aguila, Interim City Manager
February 22, 2021
r-: DocuSigned by:
Uer±
SUBJECT: G.O. Bond Oversight Committee Motion
Revised Implementation Plan
The purpose of this Letter to the Commission ("LTC") is to provide an update regarding a motion
made during the February 18, 2021 G.O. Bond Oversight Committee meeting.
Voting Members present: Karen Rivo (Chair), Jason Green, Jack Glottman, Francisco Diez-
Rivas, Laura Veitia, Carmen Browne
Voting Members not present: Marie Peter (Vice Chair)
Background: Staff presented a revised G.O. Bond Implementation Plan which, in summary,
proposes the following:
1. Consolidates the number of tranches taking advantage of lower borrowing costs than
originally projected.
2. Sets a new prioritization of projects, allowing the advancement of certain projects that
were proposed to commence in future tranches.
3. Realignment of tranche 1 projects based on current cashflow projections.
MOTION
The Committee made a motion to endorse the revised G.O. Bond Implementation Plan and the
reconfiguration from four to three tranches as presented by staff.
Motion made by Jason Greene
Motion seconded by Jack Glottman
Motion passed unanimously
For more information, please contact Maria Hernandez at mariahernandez@miamibeachfl.gov
or x22584.
RJA/ MH