Miami-Dade Legislative Item
File Number: 081499
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File Number: 081499 File Type: Resolution Status: Adopted
Version: 0 Reference: CRA-1-08 Control: Board of County Commissioners
File Name: REDEVELOPMENT AGENCY BUDGET FOR FISCAL YEAR 2007-08 Introduced: 5/9/2008
Requester: Office of Strategic Business Management Cost: Final Action: 5/20/2008
Agenda Date: 5/20/2008 Agenda Item Number: 17A1
Notes: Title: RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE WEST PERRINE COMMUNITY REDEVELOPMENT AGENCY APPROVING THE WEST PERRINE COMMUNITY REDEVELOPMENT AGENCY BUDGET FOR FISCAL YEAR 2007-08
Indexes: NONE
Sponsors: NONE
Sunset Provision: No Effective Date: Expiration Date:
Registered Lobbyist: None Listed


Legislative History

Acting Body Date Agenda Item Action Sent To Due Date Returned Pass/Fail

Board of County Commissioners 5/20/2008 17A1 Adopted P

County Attorney 5/13/2008 Assigned Martin W. Sybblis 5/8/2008

County Manager 5/13/2008 Assigned County Attorney 5/20/2008
REPORT: OSBM

County Manager 5/13/2008 Assigned Jennifer Glazer-Moon 5/9/2008

Legislative Text


TITLE
RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE WEST PERRINE COMMUNITY REDEVELOPMENT AGENCY APPROVING THE WEST PERRINE COMMUNITY REDEVELOPMENT AGENCY BUDGET FOR FISCAL YEAR 2007-08



BODY
WHEREAS, the Board of Commissioners of the West Perrine Community Redevelopment Agency (the ”CRA”) desires to approve the annual budget for Fiscal Year 2007-08 for the West Perrine Community Redevelopment Area in the form attached hereto as Attachment I and incorporated herein by reference; and


WHEREAS, the CRA desires to transmit the Fiscal Year 2007-08 budget to the Board of County Commissioners of Miami-Dade County, Florida (the “Board”) for approval; and


WHEREAS, this Board desires to accomplish the purpose outlined in the accompanying memorandum, a copy of which is incorporated herein by reference,


NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE WEST PERRINE COMMUNITY REDEVELOPMENT AGENCY, that:

Section 1. The matters contained in the foregoing recitals are incorporated in this Resolution by reference.

Section 2. The CRA approves the annual budget for Fiscal Year 2007-08 related to the West Perrine Community Redevelopment Area in the form attached hereto as Attachment I.




HEADER
Date:



To: Honorable Chairman Bruno A. Barreiro
and Members, Board of county Commissioners


From: George M. Burgess
County Manager




Subject: FY 2007-08 Budget for the West Perrine Community Redevelopment Agency



STAFF RECOMMENDATION

It is recommended that the Board of the West Perrine Community Redevelopment Agency (the “CRA”) adopt the attached resolution approving the West Perrine Community Redevelopment Agency’s FY 2007-08 budget (Attachment I) for the West Perrine Community Redevelopment Area (the “Area”). The CRA’s budget includes revenues and expenditures of $672,258.

Scope of Agenda Item

This resolution provides the appropriation of tax increment funds derived from the Area. The Area lies within County Commission District 9.

Fiscal Impact / Funding Source

The CRA’s revenue source is generated through the incremental growth of ad valorem revenues beyond an established base year, as defined in Section 163.387 of Florida State Statutes. Tax increment revenues total $672,258.

Track Record / Monitor

This resolution does not provide for contracting with any specific entity. The resolution approves the CRA’s FY 2007-08 budget. The Office of Strategic Business Management will monitor the CRA’s budget.

MANAGER'S BACKGROUND

On June 5, 2007, the BCC approved the establishment of the West Perrine CRA when it approved the Plan pursuant to Resolution R-744-07, the funding of the Plan when it enacted Ordinance 07-79 which created the CRA Trust Fund, and appointed itself as the CRA Board pursuant to Resolution 745-07.

In my capacity as Executive Director, I recommend that the CRA approve the CRA’s FY 2007-08 budget of $672,258 and transmit that budget to the BCC for approval. The budget includes revenue sources of Countywide Tax Increment Revenues ($464,972) and Unincorporated Municipal Service Area (UMSA) Tax Increment Revenues ($207,286).




Administrative expenditures total $78,291 and represent 12 percent of total tax increment revenues, excluding the 1.5 percent County Administrative Charge ($10,084) and the first of four payments for reimbursement to the County of funds advanced to pay for the Finding of Necessity and the Redevelopment Plan expenses ($22,875).

A related item on this agenda recommends certain amendments to the CRA Plan to allow for right-of-way enhancements and community policing strategies. The budget includes operating expenditures totaling $141,175, including $96,000 for right-of-way enhancement, $45,000 for motorized security patrols, and $175 for payment of a Special District fee to the State of Florida. The budget also includes a $419,833 reserve.

The Tax Increment Financing Coordinating Committee preliminarily reviewed the CRA’s budget on April 7, 2007 and is scheduled to conduct its final review on May 21, 2008.



________________________
Cynthia W. Curry
Senior Advisor to the County Manager



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