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RESOLUTION ESTABLISHING STANDARDIZED BUDGET REQUIREMENTS FOR COMMUNITY REDEVELOPMENT AGENCIES SUBMITTING ANNUAL AND AMENDED BUDGETS FOR BOARD APPROVAL; AND DIRECTING THE COUNTY MAYOR OR COUNTY MAYOR�S DESIGNEE TO IMPLEMENT SUCH REQUIREMENTS

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WHEREAS, the Florida Legislature during its 1969 Legislative Session enacted the Community Redevelopment Act of 1969, which is presently codified in chapter 163, part III, Florida Statutes, as amended (the �Act�); and
WHEREAS, in 2019, the Legislature amended the Act, specifically, section 163.387, to require that �effective October 1, 2019, moneys in the redevelopment trust fund may be expended for undertakings of a community redevelopment agency as described in the community redevelopment plan only pursuant to an annual budget adopted by the board of commissioners of the community redevelopment agency and only for the purposes specified in [the Act]�; and
WHEREAS, section 163.387 was further amended to require �a community redevelopment agency created by a municipality shall submit its annual budget to the board of county commissioners for the county in which the agency is located within 10 days after the adoption of such budget and submit amendments of its annual budget to the board of county commissioners within 10 days after the adoption date of the amended budget�; and
WHEREAS, section 163.387 further requires that �the annual budget of a community redevelopment agency may provide for payment of the following expenses: (i) administrative and overhead expenses directly or indirectly necessary to implement a community redevelopment plan adopted by the agency; (ii) expenses of redevelopment planning, surveys, and financial analysis, including the reimbursement of the governing body or the community redevelopment agency for such expenses incurred before the redevelopment plan was approved and adopted; (iii) the acquisition of real property in the redevelopment area; (iv) the clearance and preparation of any redevelopment area for redevelopment and relocation of site occupants within or outside the community redevelopment area as provided in section 163.370 [of the Act]; (v) the repayment of principal and interest or any redemption premium for loans, advances, bonds, bond anticipation notes, and any other form of indebtedness; (vi) all expenses incidental to or connected with the issuance, sale, redemption, retirement, or purchase of bonds, bond anticipation notes, or other form of indebtedness, including funding of any reserve, redemption, or other fund or account provided for in the ordinance or resolution authorizing such bonds, notes, or other form of indebtedness; (vii) the development of affordable housing within the community redevelopment area; (viii) the development of community policing innovations; and (ix) expenses that are necessary to exercise the powers granted under section 163.370, as delegated under s.�163.358 [of the Act]�; and
WHEREAS, in accordance with the Act, this Board is the �governing body,� as this term is defined in section 163.340 of the Act, of all community redevelopment agencies in Miami-Dade County; and
WHEREAS, as such, this Board must approve each of the community redevelopment agencies� annual budgets, including any amendments thereto, and
WHEREAS, the community redevelopment agencies� budgets vary in format, level of detail, and presentation, making comparative review and fiscal oversight challenging; and
WHEREAS, standardized budget requirements would enhance transparency, consistency, accountability, and efficiency in the review and approval of each community redevelopment agencies� budgets; and
WHEREAS, this Board desires to establish minimum uniform requirements for community redevelopment agency budgets submitted for Board approval, including standardized formats, line-item categories, and supporting documentation,
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF MIAMI-DADE COUNTY, FLORIDA, that:
Section 1. This Board incorporates and approves the foregoing recitals as if fully set forth herein.
Section 2. This Board hereby establishes standardized requirements for all community redevelopment agency annual and amended budgets, submitted to this Board for approval. At a minimum, each community redevelopment agency budget shall include the following:
a. A standardized budget template prescribed by the County Mayor or County Mayor�s designee;
b. A detailed line-item operating and capital budget, including but not limited to:
(i) Personnel and administrative costs;
(ii) Operating expenditures;
(iii) Professional services;
(iv) Debt service;
(v) Capital projects;
(vi) Programmatic expenditures; and
(vii) Reserves;
c. A summary of projected revenues, including tax increment financing revenues, carryover balances, grants, and other funding sources;
d. A project-level breakdown of all proposed capital and programmatic expenditures, including project descriptions, estimated total project costs, prior-year expenditures, current-year funding, and projected completion dates;
e. Identification of administrative expenditures as a percentage of total budget;
f. A comparison of the proposed budget to the prior fiscal year�s adopted budget and actual expenditures;
g. A multi-year forecast of revenues and expenditures, covering at least three fiscal years, where practicable;
h. Schedule outlining all outstanding debt to include issuance date, project description, original debt balance, current balance, and annual payments; and
i. Any additional supporting documentation required by the County Mayor or County Mayor�s designee to facilitate fiscal and programmatic review.
Section 3. This Board directs the County Mayor or County Mayor�s designee to develop and implement standardized budget templates, instructions, and submission deadlines for the community redevelopment agencies to submit their budgets, and to provide technical assistance to community redevelopment agencies as necessary to ensure compliance with this resolution.
Section 4. Commencing with the first fiscal year following the adoption of this resolution, no community redevelopment agency budget shall be submitted for this Board�s approval unless it substantially complies with the standardized requirements established herein, as determined by the County Mayor or County Mayor�s designee.