Miami-Dade Legislative Item
File Number: 101929
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File Number: 101929 File Type: Resolution Status: Deferred
Version: 0 Reference: Control: County Commission
File Name: FY 2009-10 BUDGET RE: SOUTHEAST OVERTOWN/PARK WEST CRA Introduced: 8/12/2010
Requester: Office of Strategic Business Management Cost: Final Action:
Agenda Date: 10/5/2010 Agenda Item Number: 8L1C
Notes: TLL- 8/12/2010 Title: RESOLUTION APPROVING THE SOUTHEAST OVERTOWN PARK WEST COMMUNITY REDEVELOPMENT AGENCY FY 2009-10 BUDGET
Indexes: OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT
Sponsors: Sally A. Heyman, Co-Sponsor
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

County Attorney 10/21/2010 Referred County Manager 10/21/2010
REPORT: Returned item to Agenda Coordinator since it was deferred to no date certain.

Board of County Commissioners 10/5/2010 8L1C Deferred P

Commission Auditor 9/23/2010 Legislative notes attached 10/5/2010

Housing & Community Development Committee 9/15/2010 3H Forwarded with a favorable recommendation P

County Attorney 8/13/2010 Assigned Terrence A. Smith 8/17/2010

County Manager 8/12/2010 Referred Housing & Community Development Committee 9/15/2010

County Manager 8/12/2010 Assigned County Attorney 10/5/2010
REPORT: OSBM (HCD 9/15/2010) (ATTACHMENTS: SOUTHEAST OVERTOWN/PARK WEST CRA FY 2009-10 BUDGET) (ASST. COUNTY ATTY: TERRENCE SMITH)

County Manager 8/12/2010 Assigned Jennifer Glazer-Moon 8/27/2010 8/12/2010

Legislative Text


TITLE
RESOLUTION APPROVING THE SOUTHEAST OVERTOWN PARK WEST COMMUNITY REDEVELOPMENT AGENCY FY 2009-10 BUDGET

BODY
WHEREAS, the Interlocal Cooperation Agreement between Miami-Dade County, Florida (the “County”), the City of Miami (the “City”) and the Southeast Overtown Park West Community Redevelopment Agency (the “Agency”), adopted April 19, 1983 (R-467-83) requires that the City and Agency transmit the CRA adopted annual budget to the Board of County Commissioners of Miami-Dade County, Florida (the “Board”) for approval; and

WHEREAS, this Board desires to approve the Agency’s adopted annual budget for Fiscal Year 2009-10 for the Southeast Overtown Park West Community Redevelopment Area (the “Budget”) in the form attached hereto as Exhibit 1 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 this 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. The Board approves the Agency’s annual adopted budget for Fiscal Year 2009-10 related to the Southeast Overtown Park West Community Redevelopment Area in the form attached hereto as Exhibit 1.

HEADER
Date:

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

From: George M. Burgess
County Manager

Subject: FY 2009-10 Budget for the Southeast Overtown/Park West Community Redevelopment Agency

STAFF RECOMMENDATION
Recommendation
It is recommended that the Board of County Commissioners (BCC) adopt the attached resolution approving the Southeast Overtown Park West Community Redevelopment Agency’s (CRA) FY 2009-10 budget for the Southeast Overtown Park West Community Redevelopment Area (Area). The CRA’s budget includes revenues and expenditures of $27,321,927.

Scope of Agenda Item
This resolution provides the appropriation of tax increment funds derived from the Area, the Area lies within County Commission Districts 3 and 5.

Fiscal Impact / Funding Source
The CRA’s main revenue source is 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. County tax increment revenues for FY 2009-10 total $3,955,532.

The County will continue to make annual payments to the CRA, based on each respective year’s growth of ad valorem revenues over the base year, through March 31, 2030, when the CRA will sunset.

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

MANAGER'S BACKGROUND
Background
On January 20, 1981, the BCC approved the establishment of the CRA when it declared the Area to be slum and blighted pursuant to Resolution No. R-39-81. The BCC approved the CRA’s Community Redevelopment Plan (Plan) pursuant to Resolution No. R-1677-82, and funded the Plan when it enacted Ordinance No. 82-115 (Trust Fund). The CRA is required to submit an annual budget for County approval. On July 21, 2009 the BCC approved amendments to the CRA Finding of Necessity and Plan to expand the Area and extend the life of the CRA until March 31, 2030.

Pursuant to Resolution No. R-1039-09, the BCC approved the amended Plan contingent upon the execution of an amendment to the Interlocal Agreement (the Amendment) between the County, City of Miami (City) and the CRA. The Amendment, which was executed on January 22, 2010, requires the CRA, among other things, to partially fund the Camillus House project, located at 1603 NW 7 Avenue. Prior to the approval of the Amendment by the BCC, both the County and the City were approached to make additional funding commitments of $10 million each towards the construction of the new facility. Although not included in the Amendment, it was the the County’s intent that these funds would come from the CRA. This mutual agreement was based on the fact that both the County and City will be making significant TIF contributions to the CRA’s Trust Fund over the life of the CRA, $205.25 million and $296.796 million, respectively, for activities such as the Camillus House project that are meant to revitalize, redevelop, and improve the Area.

The Camillus House project will consist of seven buildings with a total of 382,000 square feet. Phase 1 of the project, which is currently under construction, consists of three buildings to include a dining hall, residential facilities, treatment facilities and group rooms. Phase 2 will also consist of three buildings including administrative offices for homelessness prevention, chapel and will provide direct emergency services, primary care clinic and short term housing dormitories. The last building to be constructed will be Shepherd’s Court which will include the Camillus Day Care Center where mentally disabled persons will receive therapy. The building will also include 80 one-bedroom apartments for persons who are chronically homeless.

On May 13, 2010, the CRA and Camillus House entered into a grant agreement whereby the CRA will provide a total of $10 million in funding for the project beginning in FY 2010-11 ($2 million annually for five years). Phase 1 of the Camillus House project is funded; however Phase 2 has a shortfall of $10 million that is expected to come from the County. At this point the CRA has not negotiated the additional funding for Phase 2 of the Camillus House project. Phase 2 of the project is scheduled to begin construction in October of 2011. The CRA should either amend the existing grant agreement to include the additional $10 million required for Phase 2 or approve a separate $10 million agreement to cover the funding needs of Camillus House if any such funds are to be provided.

CRA FY 2009-10 Budget
The CRA’s FY 2009-10 budget was approved by the CRA and City on September 24, 2009, and was re-approved by the CRA on March 15, 2010 and the City on March 25 2010 ($27,321,927). The budget includes revenue sources of County Tax Increment Revenues ($3,955,532) and City Tax Increment Revenues ($6,270,714). Additional revenues include proceeds from the sale of units in the Bayview Tower Apartments ($611,846) and funds carried over from prior years ($16,483,835).

Administrative expenditures total $822,384 and represent three percent of total budgeted expenditures, which is less than the 20 percent allowed in the Interlocal Agreement.

Operating expenditures total $26,499,544 and include:
* Affordable / Workforce Housing ($11,940,136);
* Infrastructure and Streetscape Improvements ($7,345,585);
* Parks and Open Spaces ($1,133,479);
* Job Creation / Economic Development Grants ($1,727,780);
* Arts and Culture Grants ($197,500);
* Quality of Life Grants ($1,580,329);
* Debt Service for Community Redevelopment Revenue Bonds, Series 1990 ($350,000);
* Contractual Services ($1,873,296);
* Payment to the Children’s Trust Fund ($251,439);and
* Reserved for other expenses ($100,000).

All expenditures are detailed in Exhibit 1 to this Resolution. The Tax Increment Financing and Coordinating Committee reviewed the CRA’s budget on June 14, 2010 and unanimously recommended it for BCC approval.


___________________________________
Jennifer Glazer-Moon
Special Assistant to the County Manager



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