TITLE
RESOLUTION APPROVING THE BUDGET FOR FISCAL YEAR 2013-14 FOR THE SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY

BODY
WHEREAS, the Interlocal Cooperation Agreement between Miami-Dade County, Florida (the �County�) and the South Miami Community Redevelopment Agency (the �Agency�) requires that the Agency transmit its adopted annual budget to the Board of County Commissioners of Miami-Dade County, Florida (the �Board�) for approval; and
WHEREAS, the Agency and its counsel have determined that all expenditures associated with the attached budget are allowable under the Redevelopment Plan, Interlocal Agreement and Florida State Statute; and
WHEREAS, this Board desires to approve the Agency�s adopted annual budget for Fiscal Year 2013-14 for the South Miami Community Redevelopment Area in the form attached hereto as Exhibit A 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 2013-14 related to the South Miami Community Redevelopment Area in the form attached hereto as Exhibit A.

HEADER
Date:

To: Honorable Chairwoman Rebeca Sosa
and Members, Board of County Commissioners

From: Carlos A. Gimenez
Mayor

Subject: FY 2013-14 Budget for the South Miami Community Redevelopment Agency

STAFF RECOMMENDATION
Recommendation
It is recommended that the Board of County Commissioners (Board) consider the attached resolution approving the South Miami Community Redevelopment Agency�s (Agency�s) FY 2013-14 Budget for the South Miami Community Redevelopment Area (Area). The Agency�s Budget includes revenues and expenditures in the amount of $1,555,611.

Scope
The Area lies within Commission District 7, represented by Commissioner Xavier L. Suarez.

Fiscal Impact / Funding Source
The Agency�s revenue source is tax increment financing (TIF), which is generated through the incremental growth of ad valorem revenues beyond an established base year, as defined in Section 163.387 of the Florida State Statutes. The Countywide TIF into the Agency�s Trust Fund for FY 2013-14 is $535,747 and the City of South Miami�s (City�s) TIF payment into the Trust Fund is $489,337.

The County will continue to make annual payments to the Agency, based on each respective year�s growth of ad valorem revenues over the base year, through 2020, which is when the Agency will sunset.

Track Record / Monitor
This item does not provide for contracting with any specific entity and only approves the Agency�s FY 2013-14 Budget of $1,555,611.

MANAGER'S BACKGROUND
Background
On June 16, 1998, the Board approved the establishment of the Agency when it adopted the Agency�s Community Redevelopment Plan (Plan) pursuant to Resolution R-99-100 and the funding of the Plan when it enacted Ordinance No. 98-80 (Trust Fund). An Interlocal Agreement between Miami-Dade County and the Agency was approved by the Board on September 9, 1999, and later amended through Resolution R-327-04. The Interlocal Agreement requires the Agency to submit an annual budget prior to expending any TIF funds for the implementation of the Plan.

The Agency�s FY 2013-14 budget of $1,555,611 was approved by the Agency on October 14, 2013 and by the City on November 5, 2013. The budget includes revenue sources of County and City TIF payments totaling $535,747 and $489,337, respectively; carryover from prior years ($292,527); carryover reserved for a grant project ($100,000); reserved contribution for affordable housing expenditures ($100,000); rent revenues ($25,000); and interest earnings ($13,000).

Administrative expenditures total $198,253, excluding the 1.5 percent County Administrative Charge ($8,036), and represent 13 percent of total expenditures, which satisfies the 20 percent cap in administrative expenditures required by the Interlocal Agreement.

Operating Expenditures total $1,345,181 and include:
* $361,956 to be transferred to the City for three community policing patrol officers and sub-station operations ($205,417), one community code compliance officer ($84,239), grant writing services ($39,127), other required redevelopment services including City issued field vehicle, printing, planning and human resource related services required for the direct screening and processing of 2nd Chance Program participants ($33,173);
* $297,775 for debt service payments on a $2.73 million long-term project bond ($266,186 principal and $31,589 interest);
* $178,000 for redevelopment grants such as affordable housing homeowner assistance ($75,000), senior center elderly care services ($40,000), Agency plan authorized scholarship programs ($30,000), rehabilitation of existing housing stock ($22,000), commercial business improvements ($8,000), and business development ($3,000);
* $102,500 for contractual services associated related to demolition and relocation expenditures associated with the Madison Square affordable housing project ($100,000) and economic development related initiatives ($2,500);
* $91,000 for infrastructure improvements such as pool maintenance contribution ($50,000), roadway intersection improvements ($25,000), economic development oriented parking lot feasibility study ($10,000), streetscape enhancement ($3,000), and matching fund park improvement contribution ($3,000);
* $85,516 for marketing and special events, annual parades, groundbreaking, and redevelopment area ceremonial events ($63,516), and expenditures associated with MLK Parade, Black History Parade, Elves Parade and Safe Streets events ($22,000);
* $63,634 for employee salary and fringe benefits relating to non-administrative duties of two staff members for community outreach duties ($33,368) and property management ($30,266);
* $59,800 for operating expenditures such as utilities, taxes, and insurance for CRA-owned properties ($40,000), Board Member discretionary funding to provide $1,000 in supplemental assistance with redevelopment community service related projects ($7,000), audit and studies ($6,000), office supplies and equipment ($2,500), telephone and communication lines ($1,250), printing, publications, and memberships ($1,150), travel and conference ($850), advertising and legal notices ($850), and employee training ($200);
* $50,000 for legal services rendered by the Agency�s General Counsel;
* $30,000 for land acquisition expenditures associated with the purchase of blighted lots and conveyance for affordable housing development; and
* $25,000 for required building improvements and repairs, such as plumbing and electrical, to Agency owned buildings and facilities.

The budget also includes a reserve of $4,141.

_______________________________
Edward Marquez
Deputy Mayor