Miami-Dade Legislative Item
File Number: 100783
   

File Number: 100783 File Type: Resolution Status: In Committee
Version: 0 Reference: Control: Housing & Community Development Committee
File Name: NW 7 AVENUE CORRIDOR COMMUNITY REDEVELOPMENT AGENCY Introduced: 3/25/2010
Requester: Office of Strategic Business Management Cost: Final Action:
Agenda Date: Agenda Item Number: 8L1
Notes: SEE AMENDE ITEM 101043. Title: RESOLUTION APPROVING THE BUDGET FOR FISCAL YEAR 2009-10 FOR THE N.W. 7TH AVENUE COMMUNITY REDEVELOPMENT AGENCY
Indexes: NW 7TH AVENUE CORRIDOR DEVELOPMENT PROJECT
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

Housing & Community Development Committee 4/14/2010 3I Amended
REPORT: (SEE AGENDA ITEM 3I AMENDED; LEGISLATIVE FILE NO. 101043.)

County Attorney 4/6/2010 Assigned Terrence A. Smith 4/6/2010

County Attorney 4/5/2010 Referred County Manager 4/5/2010
REPORT: Returned to Agenda Coordinator because item was incomplete.

County Attorney 3/29/2010 Assigned Terrence A. Smith 4/5/2010

County Manager 3/25/2010 Referred Housing & Community Development Committee 4/14/2010

County Manager 3/25/2010 Assigned County Attorney 5/4/2010
REPORT: OSBM (Terrence Smith assisted) - HCDC 4/14/2010 - Attachment: None

County Manager 3/25/2010 Assigned Irene Taylor-Wooten 3/25/2010

Legislative Text


TITLE
RESOLUTION APPROVING THE BUDGET FOR FISCAL YEAR 2009-10 FOR THE N.W. 7TH AVENUE COMMUNITY REDEVELOPMENT AGENCY

BODY
WHEREAS, the Board of County Commissioners of Miami-Dade County, Florida (the “Board”) desires to approve the annual budget for Fiscal Year 2009-10 for the N.W. 7th Avenue Community Redevelopment Area in the form attached hereto as Attachment I and incorporated herein by reference; 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 COUNTY COMMISSIONERS OF MIAMI-DADE COUNTY, FLORIDA, that:

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

Section 2. This Board approves the Agency’s annual adopted budget for Fiscal Year 2009-10 related to the N.W. 7th Avenue Community Redevelopment Area in the form attached hereto as Exhibit I.

HEADER
Date:

To: Honorable Chairman Dennis C. Moss
and Members, Board of County Commissioners

From: George M. Burgess
County Manager

Subject: FY 2009-2010 Budget for the N.W. 7th Avenue Corridor Community Redevelopment Agency

STAFF RECOMMENDATION
It is recommended that the Board of County Commissioners (BCC) adopt the attached resolution approving the N.W. 7th Avenue Corridor Community Redevelopment Agency’s (CRA’s) FY 2009-10 budget for the N.W. 7th Avenue Corridor Community Redevelopment Area (the “Area”). The CRA’s budget includes revenues and expenditures in the amount of $2,152,036.

MANAGER'S BACKGROUND
Scope of Agenda Item
This resolution provides the appropriation of tax increment funds derived from the Area, which lies within Commission Districts 2 and 3.

Fiscal Impact / Funding Source
The CRA’s revenue sources are generated through the incremental growth of ad valorem revenues beyond an established base year, Tax Increment Financing (TIF), as defined in Section 163.387 of Florida State Statutes. The Countywide tax increment revenue into the CRA’s Trust Fund for FY 2009-10 is $309,464 and the Unincorporated Municipal Service Area (UMSA) tax increment revenue payment into the Trust Fund is $128,086.

Track Record / Monitor
This resolution does not provide for contracting with any specific entity. The resolution approves the CRA’s FY 2009-10 Budget.

Background
On March 16, 2004, the BCC adopted Resolution R-293-04, which established the boundaries of the N.W. 7th Avenue CRA, and declared the area to be slum or blighted and in need of redevelopment improvements in accordance with Florida Statutes, Chapter 163. On June 7, 2005, the BCC approved the establishment of the CRA when it approved the CRA’s Community Redevelopment Plan (Plan) pursuant to Resolution R-780-04 and the funding of the Plan when it enacted Ordinance No. 04-124 (Trust Fund). An Interlocal Agreement between Miami-Dade County and the North Miami Beach CRA was also approved by the BCC on June 7, 2005. The Interlocal Agreement requires the CRA to submit for County approval an annual budget for the implementation of the Plan.

It is recommended that the BCC approve the CRA’s FY 2009-10 budget of $2,152,036 which was approved by the CRA on March 8, 2010. The budget includes revenue sources of County tax increment revenues ($309,464), UMSA tax increment revenues ($128,086), carryover from prior years ($1,691,486), and interest earnings ($23,000).

Administrative expenditures total $104,585 and represent 19 percent of the total contemplated expenditures, excluding the 1.5 percent County Administrative Charge ($6,563), satisfying the 20 percent cap in administrative expenditures required by the Interlocal Agreement. Additionally, the CRA is reimbursing the County $31,500 for expenses associated with the creation of the CRA, including the costs of the Finding of Necessity (FON) and Plan. This is the first of three payments totaling $94,500.

Operating expenditures total $400,175 and include $150,000 for a Commercial Beautification Program, $150,000 for a Commercial Rehabilitation Program, and $50,000 for Community Policing services. The budget also contains $25,000 for landscaping, $25,000 for infrastructure improvements and $175 for a Special District fee required by the State of Florida.

The remaining $1,609,213 will be held in reserve pending development and approval of an amendment to the Plan. Prior to the BCC adopting Resolution R-1290-09, which directed staff to prepare a FON study for the expansion of the NW 7th Avenue CRA, the CRA Board contemplated an amendment to the current Plan. The current Plan has an automall, which is no longer viable, as the primary redevelopment project. Upon completion of the FON, it is anticipated that an amendment to the Plan will be prepared and presented to the CRA Board and BCC for final consideration. The amended Plan will redirect the focus of the CRA by including additional projects to be funded with the tax increment revenues held in reserve.

The Tax Increment Financing and Coordinating Committee reviewed the CRA’s budget on March 12, 2010 and unanimously recommended it for BCC approval.


________________________________
Special Assistant to the County Manager

Attachments



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