Post on 05-Jul-2018
8/15/2019 362-2000 RDA
1/8
8/15/2019 362-2000 RDA
2/8
Revenues
and other
Sources
of
Income
Opening
Balance:
Debt Service
Reserve (
96
eries
o n d s
96B
eries
Bond
f u n d s
98
A&
eries
Bond
funds
Ta x
I n c r e m e n t _ .Cty
Tax
Increment -ounty
C o n t r i b u t i o n
from
ResortTax(
1%
nterest
Income Loews
Hotel
Ground
Lease
Royal
Pam
Grou nd
L e a s e Anchor
Garage
Net
income (
1
Anchor
Shops-
e a s e
R e v e n u e (2
Operating
T r a n s f e r sIn
FundBaance
Carryover:
Total
Revenue:
Operating
E x p e n s e s : M a n a g e m e n t Fee
A d v e r t is i n g & P r o m o t io n
Debt
Service
Cos
Postage &
Mailing
Prining
Office
Supplies &
E q u i p m e n t
M e e t i n g s &
Conferences
Dues &
u b s c r i p t i o n s
Aud~
ee
P r o f e s s i o n a l &
Related
Fees
M i s c e l l a n e o u s
Expenses
Total
Operating
E x p e n s e s :
oher
O p e r a t i n g
Costs:P r o p e r t y Tax-
nchor
Garage Sales
Tax-
nchor
Garage T o t a l other
O p e r a t i n g
Costs:
Transfer
to-
ebt
S vc
Fund
T r a n s f e r
County
TFo -
Debt
Svc
F u n d
Transfer
to
R e s o r t
Taxor
repayment
o
loan:
Transer
to
Construction
Fund
Total
E x p e n d R u r e s &
Transfers:
ConsrucionProject
Costs:
MIAMI
B E A C H
R E D E V E L O P M E N T
AGENCY
P r o p o s e d
BUdget
00101 Cty
Center R e d e v e l o p m e n t
Area
Operating
Debt
Construction
Fund
Service
Fund
00
02
388,
600
0
0
33443
5
53,
210
0
024
96
4
024
596
00,877.500
0
5,000
310,
000
000000
0
20,0 0 0
8/15/2019 362-2000 RDA
3/8
MIAMI
BEACH
REDEVELOPMENT
AGENCY
Proposed
Bud ge t
00101
South
Pone
e d e v e l o p m e n t
Aea
e v e n u e s
and
oher
O p e r a t i n g
Deb
Construction
S o u r c e so
Income
Fund
Service
Fund
Fund
Balance
C a r r y o v e r :
South
Pone
S t r e e t s c a p e
0
0
3
63,
170
Par<
m p r o v e m e n t s
0
1
92,
000
Tax
ncrement ~
Cty
4
4 2 ,
612
0
Tax
increment -
County
3
38
638
3
638
638
0
arina
Rental
120
000
0
ortolino
Local
Impacts
92
000
0
0
Interest
Income
100
000
46
788
0
Operating
T r a n s f e r s
In
0
261,
182
7
73
827
Capi tal
Project
Funds
0
0
u nd
B a l a n c e
Carryover
0
Total
R e v e n u e :
8
693
5 0
7
46,
608
11
28
997
perating
Deb
o n s t r u c t i o n
O p e r a t i n g
E x p e n s e s :
Fund
Service
Fund
Management
Fee
14,
000
0
0
A d v e r t i s i n g &
r o m o t i o n
3
000
0
0
ebt
Service
Cos
0
872
81
0
P o s t a g e &
M a i l i n g
2
500
0
rning
2
00
0
0
fice
Supplies &
q u i p m e n t
4
430
0
8/15/2019 362-2000 RDA
4/8
MIAMI
BEACH REDEVELOPMENT
AGENCY
Propo sed Bud ge t
0 0 1 0 1
Cty
Cener
e d e v e l o p m e n t
Aea
e v e n u e s and
other
O p e r a t i n g
Deb
Construct ion
S o u r c e s
o
Income
Fund Service
Fund
Opening
B a l a n c e :DebtService
Reserve (
96
S e r i e s
Bonds)0
0 9 6 B Series
Bond
funds
0
0
,
3 8 8 ,
600
98
A&
Beries Bond funds
0
700,000Tax
n c r e m e n t -
C~
y5
53.
210
0
ax
Increment -
C o u n t y
423
856
4
2 3 ,
856
0
ontribution
from Resort
Tax(
1%
0
77
500
0
nterest
Income
5
000
310
0000oews
Hotel
Ground
Lease
500
000
0
0
oya
Palm
Ground
L e a s e
220,
000
0
Anchor
Garage
Net
Income (
1
889,
210
0
0
n c h o r
Shops -
Lease
R e v e n u e (288
550
00
Operating
Transfers
In
6
17,
970
676
514
und B a l a n c e
C a r r y o v e r :0
0
0
o t a l
Revenue:1119 ,
828
2,
729,
328,78514
O p e r a t i n g
Deb
onstruct ion
Operaing
E x p e n s e s :
Fund
S e r v i c e Fund M a n a g e m e n t
Fee
14,
000
0
d v e r t i s i n g
P r o m o t i o n
3000
0
ebt
Service
Cost
0
9
76216
0
ostage &
Mailing
3
000
0r i n t i n g
3
00
00
Office Supplies & q u i p m e n t5 00
0
0
e e t i n g s &
o n f e r e n c e s
8/15/2019 362-2000 RDA
5/8
MIAMI
BEACH
REDEVELOPMENT AGENCY
Proposed
Budget
00101 South
Pone
e d e v e l o p m e n t
Aea
e v e n u e sand
Oher
O p e r a t i n g Deb
Construction S o u r c e so Income Fund Service
Fund
Fund
Balance
C a r r y o v e r : South
Pone
S t r e e t s e a p e
0
03
363,
170Pa<
m p r o v e m e n t s
0
192
000
Tax
ncrement -
Cty
44 2 ,
6120
Tax
increment -
County
3
723
454
3723
454
0
arina Rental 120,
000
0
ortofino
Local Impacts
92
000
0
0
Interest
Income 100
000
46
788
0
Operating
T r a n s f e r s
In
0
261,
182
758
643
Capital
Project
Funds
0
0u nd B a l a n c e
Carryover
0
Total
R e v e n u e :
8
778
8 8
831,
424
11
13
813perating
Deb
o n s t r u c t i o n
O p e r a t i n g
E x p e n s e s :
Fund
Service
Fu nd
Management
Fee
14,
000
0
0
A d v e r t i s i n g &
r o m o t i o n3
000
00ebt
Service
Cos
0
872
81
0
P o s t a g e &
M a i l i n g
2
500
0
0
rning
2
00
0
0
fice
Supplies &
q u i p m e n t
4
430
0
8/15/2019 362-2000 RDA
6/8
Miami
Beach
Redevelopment
Agency
1700
onvention
Center
Drive
Miami
Beach,
Florida
3 3 1 3 9
Teephone (
305
673
29 5
F a x : (
305)
673-
7772
E D E V E L O P M E N T
AGENCY
M E M O R N D U M NO.
00
r. \
September
27
2000
TO
Chairman
and
embers
o
h e
Mam
e a c h
R e d e v e l o p m e n t
Agency
RO M :
Jorgeo n z a l e z \ . ~
E x e c u t i v e
Director ~ ~ ~U J E C T
A
ESOLUTON
OFTHE
HAIRMAN
AND
E M B E R S
OF
HE
IA1\
1EACH
REDEVELOPMENT
AGENCY A D O P T I N G
OPERATING
B U D G E T S
FOR
OUTH
P O I N T E
A N D CTY
C E N T E R
R E D E V E L O P M E N T
R E S
FOR
I S C A L
Y E A R S 2000/01D M I N I S T R A T I O N
R E C O M M E N D T I O N
Adopt
the
e s o l u t i o n .
A N A L
YSIS The
p r o p o s e d
b u d g e t s
fo
o u t h Pointe and Ci t y Center
R e d e v e l o p m e n t
Areas
fo
i s c a l
Y e a r
00/01
ave
b e e n
p r e p a r e d
to
coincide
w i t h
the
veral
C i t y b u d g e t p r o c e s s ,
and
a~
eing
p r e s e n t e d
t o d a yto
assist
inroviding
a
o m p r e h e n s i v e
overview
of
the
two
districts. .
F o l l o w i n g
two
yearsof m o d e r a t e
g r o w t h ,
the
a x a b l e
value
o
r o p e r t y
in
it y Center
e x p e r i e n c e d
a
5
5
ercent
i n c r e a s e in
FY
9/00
The
i g n i f i c a n t j w n p
invalue
m a y b e
a t t r i b u t e d
to
certain
new
large
scale projects
c o m i n g
on
Ene,
i n c l u d i n g
but not
limited
tohe
Loews
Miami- e a c hHoe,he A n c h o r Shops and
Parking
G a r a g e ,I
lIago
500O c e a n
Steps
and
the
South
B e a c h 18
c r e e n
m o v i e
theaer
on
L i n c o l n
R o a d .
Asew
h o t e l ,
residential
a n d
c o m m e r c i a l
d e v e l o p m e n t s
c om eon
in e
o v e r th e
nex
e w
y e a r s ,
the
tax
n c r e m e n t
fo
he
Cty
C e n t e r
Area
is
a n t i c i p a t e dto
row
s t e a d i l y .
Ths
o r e c a s t e d t r 0 n d
is
upported
b y
a
14
1
e r c e n t
i n c r e a s e
in p r o p e r t y
values
projected
for
FY
0/
0
L
In
o u t h
Pointe,
the
taxabevalue o
property
e x p e r i e n c e d
ao d e r a t e93
e r c e n t
increase
in
Y
99/
0 0 ,In
FY
00/
01
roperty
v a l u e s
are
f o r e c a s t e d
to
n c r e a s e
by
2 8
p e r c e n t
8/15/2019 362-2000 RDA
7/8
In the
City
Center RDA,
the
increase in
tax
increment
coupled
with the income
stream from
the
Loews Hotel
ground
lease and
operation
ofthe Anchor
Shops
and
Parking
will alow the RDA to
continue
repaying
Resort Tax funds used to
pay
existing
debt
service
obligations
from the 1993
and
1996
b o n d
i s s u e s .It
is
lso
a n t i c i p a t e d ,
thatashe
Resort
T a x
s u p p l e m e n t
ise p a i d over the
next
few
yearstaxn c r e m e n t fundswlle c o m e
available
toddress much
needed
n f r a s t r u c t u r e
i m p r o v e m e n t s
in
the
rea,
n c l u d i n g bu
ot
limted
to
t r e e t s c a p i n g ,
l a n d s c a p i n g
and
a r k i n g .Durng
he c o u r s eohe
next
f i s c a l
year,
he
RDAill
continue
to
address
the
f o l l o w i n g
projects
by
rea
Souh
o i n t e :
Implementat ionando n s t r u c t i o n c o o r d i n a t i o n
o f Phase
t r e e t
i m p r o v e m e n t sin
South
P o i n t e , b a s e d
on
he a s t e r
Pan
a n d design
by
Duany
Paer
y b e r k .
v l o p m n t
o
a
s t r e e t s c a p e
m a s t e r
plan
for
the
l o c k s
b e t w e e n
5t h
and
th
S t r e e t s
to
e
i n t e g r a t e d
in
P h a s e
3he
outh
Ponea s t e r
Pan
o o r d i n a t i o n
a n d
i m p l e m e n t a t i o n
of
a
culpture
to
be
i n s t a l l e d
in
h e
paza
located
a W a s h i n g t o n
venue and rd S t r e e t .Thsiso o r d i n a t e d e f f o r t to
tie
in
the
GO
Bond
p r o j e c tand
At-
in
u b l i c
Paces
o o r d i n a t i o no
i m p r o v e m e n t s
and
other
o b l i g a t i o n s as
pat
o
he
S e t t l e m e n t
Agreement
between
the
R e d e v e l o p m e n t Agency
and
the
o r t o f i n o G r o u p ,
reaive
to
the d e v e l o p m e n t
o
heMami
Beach
M a r i n a (
SSm Nor th
and
o u t h ) .
h is i n c l u d e s bus
no
limted
to
uility
relocations,
u b l i c e a s e m e n t s , completion
o
h e
M a r i n aBaywa1k
n d
c o n s t r u c t i o n
oa
p a r k i n g
facility.
Cty
enter: c h i e v i n g
c l o s u r e
on
he
outstanding
and
acquisition
i s s u e s involving
the
uture
r e g i o n a l
library
ite.Implementat ion
and
o n s t r u c t i o n c o o r d i n a t i o nohe
sree-
n d i m p r o v e m e n t s
to
1 7 t h
and
8 th
S t r e e t s ,
toe
o m p l e t e dpo
oo m m e n c e m e n t
ofthe
ColinsAvenue
i m p r o v e m e n t s
p l a n n e d
for
the
rea.
Implementat ionand
o n s t r u c t i o n
c o o r d i n a t i o n
o
theBeachwalk
proec,
c o n n e c t i n g
L u m m u s Parkwth
he
erminus
ofthe
existing
w o o d e n b o a r d w a l ka
23rd S t r e e t .
C l o s e -
ouo
o n s t r u c t i o n
r e l a t e d
i s s u e s
a
the
n c h o r
Shopsand
Parking
a r a g e . C o o r d i n a t i n g
the
id
p r o c e s s
for
he
leasng
n d
m a n a g e m e n to
the
e t a i l
c o m p o n e n t
o
the
n c h o r
Shopsand
a r k i n g
Garage,
n d negotiatinga
o n t r a c twthhe
8/15/2019 362-2000 RDA
8/8
I
Continuing
to
negotiate
leases and coordinate tenant
improvements
in the
Anchor
Shops
until
such
time that
a
contract is awarded
to
propertyl leasing manager.
I
Coordinating
and
facilitating
completion
of
construction
and
opening
of
the
Ro y a l
Palm
Crowne
Plaza
Project.
I
oordinating
and
facilitating
the
ground-breaking
and construction
of
the Lincoln
Plaza
and
Lincoln Place
projects.
I
Administering
Management
and/or
Lease
Agreements
with
Loews, RDP
Ro y a l
Palm
Hotel, Ltd.,
Quik
Park and
the
Retail
Manager
for
the
Anchor
Shops.
I
oordinating
impact
mitigation
efforts
associated
with
the
FDOTs
reconstruction
ofCollins
Avenue.
I
Cont inuing
to
administer
and
coordinate
the
Management
Agreement
with
the
State
of
Florida,
Depar tment
of
Management
Services,
in
connection
with
the
grant-
funded
expansion
and
renovation
of
the
Colony
Theater.
It
should
be
noted
that in accordance with
the
Interlocal
greement
betweenMiami Dade
C o u n t y
and
the
City
of
Miami Beach,
administrative
costs
remain
capped
at
5 0 0 ,
000
in
it y
Center.In
ouh
ointe,
d m i n i s t r a t i v e
costshave
b e e n
reduced
by
3
p e r c e n t
f r o m
las
year'
s
budget,
from
818
3 0 to
793
430.
P r o p o s e d
C a p i t a l
expendituresin
oth
districts are
based
on
a n t i c i p a t e d / projected
costs
associated
wth
completing
certain
e x i s t i n g
p r o j e c t s
and
u n d e r t a k i n g
new
d e v e l o p m e n t
activity
in
the
rea.
In
order
o a d d r e s s
these
x i s t i n g
and
fuue
o b l i g a t i o n s ,it
se c o m m e n d e dthahee d e v e l o p m e n t
Agency
adopt
the
attached r e s o l u t i o n
w h i c h
e s t a b l i s h e s
operating
budgets
for
o u t h P o i n t e
andC i t y
C e n t e r
Redevelopment