TITLE
RESOLUTION APPROVING THE AMENDED FISCAL YEAR 2024-2025 AND FISCAL YEAR 2025-2026 BUDGETS FOR THE NORTH MIAMI COMMUNITY REDEVELOPMENT AGENCY AND THE NORTH MIAMI COMMUNITY REDEVELOPMENT AREA TOTALING $80,112,973.00 AND $84,312,786.00, RESPECTIVELY

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WHEREAS, the Interlocal Cooperation Agreement (�interlocal�) between Miami-Dade County, Florida (the �County�), the City of North Miami (�City�), and the North Miami Community Redevelopment Agency (the �Agency�) and section 163.387, Florida Statutes, require that the Agency transmit its adopted annual budget to this Board for approval; and

WHEREAS, the Agency and its counsel have determined that all expenditures associated with the attached budgets are allowable under the redevelopment plan, the interlocal and Chapter 163, part III, Florida Statutes; and

WHEREAS, this Board desires to approve the Agency�s amended Fiscal Year 2024-25 budget and Fiscal Year 2025-2026 budget for the North Miami Community Redevelopment Area, totaling $80,112,973.00 and $84,312,786.00, respectively; 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 and the memorandum are incorporated in this resolution by reference.

Section 2. This Board approves the amended Fiscal Year 2024-25 budget for the North Miami Community Redevelopment Agency and the North Miami Community Redevelopment Area in the total amount of $80,112,973.00, which is attached hereto as Exhibit �1� and incorporated herein by reference.

Section 3. This Board approves the Fiscal Year 2025-26 budget for the North Miami Community Redevelopment Agency and the North Miami Community Redevelopment Area in the total amount of $84,312,786.00, which is attached hereto as Exhibit �2� and incorporated herein by reference.

HEADER
Date:

To: Honorable Chairman Anthony Rodriguez
and Members, Board of County Commissioners

From: Daniella Levine Cava
Mayor

Subject: North Miami Community Redevelopment Agency�s
Amended FY 2024-25 and FY 2025-26 Budgets

STAFF RECOMMENDATION
Executive Summary
This item transmits to the Board of County Commissioners (Board) for approval the Amended FY 2024-25 Budget and FY 2025-26 Budget for the North Miami Community Redevelopment Agency (Agency). Pursuant to Section 163.387, Florida Statutes, the Board is the governing body of all community redevelopment agencies (CRAs) in Miami-Dade County and all annual CRA budgets and budget amendments are submitted to the Board for approval. A summary of the Agency�s budget is provided in this memorandum as Attachments 1 and 2. The Agency and its counsel have determined that all expenditures associated with its budgets are allowable under the Agency�s Redevelopment Plan, the Interlocal Cooperation Agreement with the County, and Chapter 163, Part III, Florida Statutes. The Agency�s amended FY 2024-25 budget was approved by the Agency on September 9, 2025, through Resolution No. 2025-009 and the City on September 25, 2025, through Resolution No. 2025-R-185 (Attachment 1). Additionally, the Agency�s FY 2025-26 budget was approved by the Agency on September 9, 2025, through Resolution No. 2025-010 and the City on September 25, 2025, through Resolution No. 2025-R-186 (Attachment 2).

Recommendation
It is recommended that the Board approve the Agency�s amended FY 2024-25 budget in the total amount of $80,112,973 and the amended FY 2025-26 budget in the total amount of $84,312,786 for the redevelopment area.

Scope
The redevelopment area lies within County Commission Districts 2 and 4, represented by Commissioner Marleine Bastien and Commissioner Micky Steinberg, respectively.

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, Florida Statutes. The County and the City will continue to make annual payments to the Agency through 2044, when the Agency and the redevelopment area will sunset.

Amended FY 2024-25 Budget
The Agency�s amended FY 2024-25 budget totaling $80,112,973 was approved by the Agency on September 9, 2025, through Resolution No. 2025-009 and the City on September 25, 2025, through Resolution No. 2025-R-185. Both resolutions are attached to this memorandum and are incorporated herein by reference (Attachment 1). The budget includes $8,759,146 in revenue sources of County TIF, $14,124,138 in City TIF, $56,642,269 in carryover funds, $578,300 in interest earnings and $9,120 in miscellaneous revenue.

Administrative expenditures, excluding the 1.5 percent County Administrative charge of $131,387, total $752,500 and include: $20,000 for annual audit, $8,000 for advertising and notices, $3,000 for local travel and meetings, and $721,500 for administrative staff support. Administrative expenses represent less than one percent of the total funds contemplated to be spent in this budget, excluding the 1.5 percent County administrative charge.

Operating expenditures total $18,184,335 and include:
� $4,078,875 for Redevelopment Bond Series 2024 debt reserve
� $4,074,625 for Redevelopment Bond Series 2024 debt service
� $3,578,055 for refund to the City for the area east of Biscayne Boulevard
� $2,189,787 for refund to the County, pursuant to the interlocal agreement
� $2,189,787 for refund to the County�s SMART Corridor Program
(TIID), pursuant to the interlocal agreement
� $800,000 for employee salary and fringes
� $400,000 for professional services
� $212,160 for the NoMi Trolleys
� $200,000 for legal services
� $155,386 for enterprise resource planning (ERP)
� $150,000 for office space/occupancy
� $65,660 for other operating expenses
� $50,000 for marketing and promotion
� $15,000 for conferences and meetings
� $15,000 for out-of-town travel
� $10,000 for printing and publishing

Capital Grants Projects - Commercial Grants & Other Incentives total $3,241,073 and include:
� $1,660,000 for new grants to assist businesses through the commercial rehabilitation, business attraction, capacity building & retention, and beautification and enhancement programs
� $1,141,073 for carryover
� $360,000 for Chapter 163 initiatives geared to the commercial community and other activities for the dissemination of CRA information
� $80,000 for Art-in-Public places

Capital Grants Projects � Housing Initiatives, $1,836,822 and include:
� $1,110,000 for carryover from the Residential Rehabilitation and NoMi Lofts project
� $726,822 for new funding allocation for single-family rehabilitation

Capital Projects - Infrastructure total $13,174,561 and include:
� $7,917,482 for affordable and workforce housing projects
� $2,299,276 for NW 7th Avenue Improvements
� $1,669,803 for NW 7th Avenue carryover funding
� $763,000 for renovations to Pioneer Boulevard, Phase 1
� $190,000 for West Dixie Avenue corridor initiative redevelopment planning
� $150,000 for Liberty Gardens passive park
� $150,000 for Library tot lot improvements
� $35,000 for capital maintenance

Redevelopment Revenue Bond Expenses, Series 2024 total $42,792,294 and include:
� $5,792,294 for land acquisition
� $3,650,000 for multi-family Rehabilitation program
� $17,000,000 for Rucks Park
� $16,350,000 for mixed-use developments

FY 2025-26 Budget
The Agency�s FY 2025-26 budget totaling $84,312,786 was approved by the Agency on September 9, 2025 through Resolution No. 2025-010 and the City on September 25, 2025 through Resolution No. 2025-R-186. Both resolutions are attached to this memorandum and are incorporated herein by reference (Attachment 2). The budget includes $10,152,399 in revenue sources of County TIF, $16,761,806 in City TIF, $57,139,581 in carryover funds, $250,000 in interest earnings and $9,000 in miscellaneous revenue.

Administrative expenditures, excluding the 1.5 percent County Administrative charge of $152,286, total $766,950 and include: $29,950 for annual audit, $4,000 for advertising and notices, $7,000 for local travel and meetings, and $726,000 for other administrative staff support. Administrative expenses represent less than one percent of the total funds contemplated to be spent in this budget, excluding the 1.5 percent County administrative charge.

Operating expenditures total $18,958,279 and include:
� $4,078,875 for Redevelopment Bond Series 2024 debt reserve
� $4,074,625 for Redevelopment Bond Series 2024 debt service
� $3,538,033 for refund to the City for the area east of Biscayne Boulevard
� $2,538,100 for refund to Miami-Dade County, pursuant to the interlocal agreement
� $2,538,100 for refund to the County SMART Corridor program
� $900,000 for employee salary and fringes
� $475,000 for professional services
� $212,160 for the NoMi Trolleys
� $200,000 for legal services
� $180,000 for office space/occupancy
� $155,386 for enterprise resource planning (ERP)
� $20,000 for marketing/communications
� $20,000 for out-of-town travel
� $20,000 for conferences/meetings
� $8,000 for printing and publishing

Capital Grants Projects - Commercial Grants & Other Incentives total $3,669,459 and include:
� $1,939,459 for previously awarded commercial grants
� $1,320,000 for new grants to assist business
� $180,000 for support of economic development
� $150,000 for community policing innovations
� $80,000 for Art-in-Public Places

Capital Grants Projects � Housing Initiatives, $2,456,979 and include:
� $1,156,979 for carryover
� $800,000 for single-family rehabilitation
� $250,000 for residential face-lift
� $150,000 for residential streetscape/beautification
� $100,000 for first-time homebuyer assistance

Capital Projects - Infrastructure total $16,078,688 and include:
� $7,989,725 for infrastructure grants
� $2,970,544 for NW 7th Avenue carryover funding
� $2,665,005 for NW 7th Avenue Improvements
� $1,000,000 for renovations to Pioneer Boulevard
�
� $1,000,000 for West Dixie Avenue corridor initiative
� $250,000 for TIF rebate
� $150,000 for Liberty Gardens passive park
� $53,414 for capital maintenance

Redevelopment Revenue Bond Expenses, Series 2024 total $42,230,145 and include:
� $5,792,294 for land acquisition
� $3,650,000 for Multi Family Rehabilitation program
� $16,437,851 for Rucks Park
� $16,350,000 for Mixed Used developments

All expenditures are detailed in Exhibits 1 and 2 to the attached resolution.

Delegation of Authority
This item does not delegate any authority to the County Mayor or County Mayor�s designee.

Track Record / Monitor
This item does not provide for contracting with any specific entity. The resolution approves the Agency�s and redevelopment area�s amended FY 2024-25 and FY 2025-26 budgets.

Background
On July 13, 2004, the Board adopted Resolution No. R-837-04, which approved the finding of necessity for the creation of the Agency. On June 7, 2005, the Board adopted Resolution No. R-610-05 approving the redevelopment plan (plan) and interlocal. The Board approved the funding of the plan through the enactment of Ordinance No. 05-109 on June 7, 2005, which created the Agency�s trust fund. On December 6, 2016, the Board adopted Resolution No. R-1132-16 approving an amendment to the plan and second amendment to the interlocal which extended the life of the Agency until 2044, required a refund to the County of revenues of over $1 million in revenue and a refund to the City, among other things. On October 3, 2017, the Board adopted Resolution No. R-882-17, amending the interlocal to remove the section requiring the Agency to submit an amended redevelopment plan. On October 3, 2023, the Board adopted Resolution No. R-902-23, approving a fourth amendment to the interlocal requiring the Agency to: 1) refund 25 percent countywide TIF to the County; 2) refund the City for the area east of Biscayne Boulevard 35 percent of total TIF dedicated to improvements to NW 7th Avenue; and 3) allow the CRA to obtain a loan up to $60 million.

Attachments

______________________________
Carladenise Edwards
Chief Administrative Officer