362-2000 RDA

8/15/2019 362-2000 RDA

1/8

8/15/2019 362-2000 RDA

2/8

Revenues

and other

Sources

of

Income

Opening

Balance:

Debt Service

Reserve (

96

eries

o n d s

96B

eries

Bond

f u n d s

98

A&

eries

Bond

funds

Ta x

I n c r e m e n t _ .Cty

Tax

Increment -ounty

C o n t r i b u t i o n

from

ResortTax(

1%

nterest

Income Loews

Hotel

Ground

Lease

Royal

Pam

Grou nd

L e a s e Anchor

Garage

Net

income (

1

Anchor

Shops-

e a s e

R e v e n u e (2

Operating

T r a n s f e r sIn

FundBaance

Carryover:

Total

Revenue:

Operating

E x p e n s e s : M a n a g e m e n t Fee

A d v e r t is i n g & P r o m o t io n

Debt

Service

Cos

Postage &

Mailing

Prining

Office

Supplies &

E q u i p m e n t

M e e t i n g s &

Conferences

Dues &

u b s c r i p t i o n s

Aud~

ee

P r o f e s s i o n a l &

Related

Fees

M i s c e l l a n e o u s

Expenses

Total

Operating

E x p e n s e s :

oher

O p e r a t i n g

Costs:P r o p e r t y Tax-

nchor

Garage Sales

Tax-

nchor

Garage T o t a l other

O p e r a t i n g

Costs:

Transfer

to-

ebt

S vc

Fund

T r a n s f e r

County

TFo -

Debt

Svc

F u n d

Transfer

to

R e s o r t

Taxor

repayment

o

loan:

Transer

to

Construction

Fund

Total

E x p e n d R u r e s &

Transfers:

ConsrucionProject

Costs:

MIAMI

B E A C H

R E D E V E L O P M E N T

AGENCY

P r o p o s e d

BUdget

00101 Cty

Center R e d e v e l o p m e n t

Area

Operating

Debt

Construction

Fund

Service

Fund

00

02

388,

600

0

0

33443

5

53,

210

0

024

96

4

024

596

00,877.500

0

5,000

310,

000

000000

0

20,0 0 0

8/15/2019 362-2000 RDA

3/8

MIAMI

BEACH

REDEVELOPMENT

AGENCY

Proposed

Bud ge t

00101

South

Pone

e d e v e l o p m e n t

Aea

e v e n u e s

and

oher

O p e r a t i n g

Deb

Construction

S o u r c e so

Income

Fund

Service

Fund

Fund

Balance

C a r r y o v e r :

South

Pone

S t r e e t s c a p e

0

0

3

63,

170

Par<

m p r o v e m e n t s

0

1

92,

000

Tax

ncrement ~

Cty

4

4 2 ,

612

0

Tax

increment -

County

3

38

638

3

638

638

0

arina

Rental

120

000

0

ortolino

Local

Impacts

92

000

0

0

Interest

Income

100

000

46

788

0

Operating

T r a n s f e r s

In

0

261,

182

7

73

827

Capi tal

Project

Funds

0

0

u nd

B a l a n c e

Carryover

0

Total

R e v e n u e :

8

693

5 0

7

46,

608

11

28

997

perating

Deb

o n s t r u c t i o n

O p e r a t i n g

E x p e n s e s :

Fund

Service

Fund

Management

Fee

14,

000

0

0

A d v e r t i s i n g &

r o m o t i o n

3

000

0

0

ebt

Service

Cos

0

872

81

0

P o s t a g e &

M a i l i n g

2

500

0

rning

2

00

0

0

fice

Supplies &

q u i p m e n t

4

430

0

8/15/2019 362-2000 RDA

4/8

MIAMI

BEACH REDEVELOPMENT

AGENCY

Propo sed Bud ge t

0 0 1 0 1

Cty

Cener


Aea

e v e n u e s and

other

O p e r a t i n g

Deb

Construct ion

S o u r c e s

o

Income

Fund Service

Fund

Opening

B a l a n c e :DebtService

Reserve (

96

S e r i e s

Bonds)0

0 9 6 B Series

Bond

funds

0

0

,

3 8 8 ,

600

98

A&

Beries Bond funds

0

700,000Tax

n c r e m e n t -

C~

y5

53.

210

0

ax

Increment -

C o u n t y

423

856

4

2 3 ,

856

0

ontribution

from Resort

Tax(

1%

0

77

500

0

nterest

Income

5

000

310

0000oews

Hotel

Ground

Lease

500

000

0

0

oya

Palm

Ground

L e a s e

220,

000

0

Anchor

Garage

Net

Income (

1

889,

210

0

0

n c h o r

Shops -

Lease

R e v e n u e (288

550

00

Operating

Transfers

In

6

17,

970

676

514

und B a l a n c e

C a r r y o v e r :0

0

0

o t a l

Revenue:1119 ,

828

2,

729,

328,78514

O p e r a t i n g

Deb

onstruct ion

Operaing

E x p e n s e s :

Fund

S e r v i c e Fund M a n a g e m e n t

Fee

14,

000

0

d v e r t i s i n g

P r o m o t i o n

3000

0

ebt

Service

Cost

0

9

76216

0

ostage &

Mailing

3

000

0r i n t i n g

3

00

00

Office Supplies & q u i p m e n t5 00

0

0

e e t i n g s &

o n f e r e n c e s

8/15/2019 362-2000 RDA

5/8

MIAMI

BEACH

REDEVELOPMENT AGENCY

Proposed

Budget

00101 South

Pone


Aea

e v e n u e sand

Oher

O p e r a t i n g Deb

Construction S o u r c e so Income Fund Service

Fund

Fund

Balance

C a r r y o v e r : South

Pone

S t r e e t s e a p e

0

03

363,

170Pa<

m p r o v e m e n t s

0

192

000

Tax

ncrement -

Cty

44 2 ,

6120

Tax

increment -

County

3

723

454

3723

454

0

arina Rental 120,

000

0

ortofino

Local Impacts

92

000

0

0

Interest

Income 100

000

46

788

0

Operating

T r a n s f e r s

In

0

261,

182

758

643

Capital

Project

Funds

0

0u nd B a l a n c e

Carryover

0

Total

R e v e n u e :

8

778

8 8

831,

424

11

13

813perating

Deb


O p e r a t i n g

E x p e n s e s :

Fund

Service

Fu nd

Management

Fee

14,

000

0

0

A d v e r t i s i n g &

r o m o t i o n3

000

00ebt

Service

Cos

0

872

81

0

P o s t a g e &

M a i l i n g

2

500

0

0

rning

2

00

0

0

fice

Supplies &

q u i p m e n t

4

430

0

8/15/2019 362-2000 RDA

6/8

Miami

Beach

Redevelopment

Agency

1700

onvention

Center

Drive

Miami

Beach,

Florida

3 3 1 3 9

Teephone (

305

673

29 5

F a x : (

305)

673-

7772

E D E V E L O P M E N T

AGENCY

M E M O R N D U M NO.

00

r. \

September

27

2000

TO

Chairman

and

embers

o

h e

Mam

e a c h

R e d e v e l o p m e n t

Agency

RO M :

Jorgeo n z a l e z \ . ~

E x e c u t i v e

Director ~ ~ ~U J E C T

A

ESOLUTON

OFTHE

HAIRMAN

AND

E M B E R S

OF

HE

IA1\

1EACH

REDEVELOPMENT

AGENCY A D O P T I N G

OPERATING

B U D G E T S

FOR

OUTH

P O I N T E

A N D CTY

C E N T E R

R E D E V E L O P M E N T

R E S

FOR

I S C A L

Y E A R S 2000/01D M I N I S T R A T I O N

R E C O M M E N D T I O N

Adopt

the

e s o l u t i o n .

A N A L

YSIS The

p r o p o s e d

b u d g e t s

fo

o u t h Pointe and Ci t y Center

R e d e v e l o p m e n t

Areas

fo

i s c a l

Y e a r

00/01

ave

b e e n

p r e p a r e d

to

coincide

w i t h

the

veral

C i t y b u d g e t p r o c e s s ,

and

a~

eing

p r e s e n t e d

t o d a yto

assist

inroviding

a

o m p r e h e n s i v e

overview

of

the

two

districts. .

F o l l o w i n g

two

yearsof m o d e r a t e

g r o w t h ,

the

a x a b l e

value

o

r o p e r t y

in

it y Center

e x p e r i e n c e d

a

5

5

ercent

i n c r e a s e in

FY

9/00

The

i g n i f i c a n t j w n p

invalue

m a y b e

a t t r i b u t e d

to

certain

new

large

scale projects

c o m i n g

on

Ene,

i n c l u d i n g

but not

limited

tohe

Loews

Miami- e a c hHoe,he A n c h o r Shops and

Parking

G a r a g e ,I

lIago

500O c e a n

Steps

and

the

South

B e a c h 18

c r e e n

m o v i e

theaer

on

L i n c o l n

R o a d .

Asew

h o t e l ,

residential

a n d

c o m m e r c i a l

d e v e l o p m e n t s

c om eon

in e

o v e r th e

nex

e w

y e a r s ,

the

tax

n c r e m e n t

fo

he

Cty

C e n t e r

Area

is

a n t i c i p a t e dto

row

s t e a d i l y .

Ths

o r e c a s t e d t r 0 n d

is

upported

b y

a

14

1

e r c e n t

i n c r e a s e

in p r o p e r t y

values

projected

for

FY

0/

0

L

In

o u t h

Pointe,

the

taxabevalue o

property

e x p e r i e n c e d

ao d e r a t e93

e r c e n t

increase

in

Y

99/

0 0 ,In

FY

00/

01

roperty

v a l u e s

are

f o r e c a s t e d

to

n c r e a s e

by

2 8

p e r c e n t

8/15/2019 362-2000 RDA

7/8

In the

City

Center RDA,

the

increase in

tax

increment

coupled

with the income

stream from

the

Loews Hotel

ground

lease and

operation

ofthe Anchor

Shops

and

Parking

will alow the RDA to

continue

repaying

Resort Tax funds used to

pay

existing

debt

service

obligations

from the 1993

and

1996

b o n d

i s s u e s .It

is

lso

a n t i c i p a t e d ,

thatashe

Resort

T a x

s u p p l e m e n t

ise p a i d over the

next

few

yearstaxn c r e m e n t fundswlle c o m e

available

toddress much

needed

n f r a s t r u c t u r e

i m p r o v e m e n t s

in

the

rea,

n c l u d i n g bu

ot

limted

to

t r e e t s c a p i n g ,

l a n d s c a p i n g

and

a r k i n g .Durng

he c o u r s eohe

next

f i s c a l

year,

he

RDAill

continue

to

address

the

f o l l o w i n g

projects

by

rea

Souh

o i n t e :

Implementat ionando n s t r u c t i o n c o o r d i n a t i o n

o f Phase

t r e e t

i m p r o v e m e n t sin

South

P o i n t e , b a s e d

on

he a s t e r

Pan

a n d design

by

Duany

Paer

y b e r k .

v l o p m n t

o

a

s t r e e t s c a p e

m a s t e r

plan

for

the

l o c k s

b e t w e e n

5t h

and

th

S t r e e t s

to

e

i n t e g r a t e d

in

P h a s e

3he

outh

Ponea s t e r

Pan

o o r d i n a t i o n

a n d

i m p l e m e n t a t i o n

of

a

culpture

to

be

i n s t a l l e d

in

h e

paza

located

a W a s h i n g t o n

venue and rd S t r e e t .Thsiso o r d i n a t e d e f f o r t to

tie

in

the

GO

Bond

p r o j e c tand

At-

in

u b l i c

Paces

o o r d i n a t i o no


and

other

o b l i g a t i o n s as

pat

o

he

S e t t l e m e n t

Agreement

between

the

R e d e v e l o p m e n t Agency

and

the

o r t o f i n o G r o u p ,

reaive

to

the d e v e l o p m e n t

o

heMami

Beach

M a r i n a (

SSm Nor th

and

o u t h ) .

h is i n c l u d e s bus

no

limted

to

uility

relocations,

u b l i c e a s e m e n t s , completion

o

h e

M a r i n aBaywa1k

n d

c o n s t r u c t i o n

oa

p a r k i n g

facility.

Cty

enter: c h i e v i n g

c l o s u r e

on

he

outstanding

and

acquisition

i s s u e s involving

the

uture

r e g i o n a l

library

ite.Implementat ion

and

o n s t r u c t i o n c o o r d i n a t i o nohe

sree-

n d i m p r o v e m e n t s

to

1 7 t h

and

8 th

S t r e e t s ,

toe

o m p l e t e dpo

oo m m e n c e m e n t

ofthe

ColinsAvenue


p l a n n e d

for

the

rea.

Implementat ionand


c o o r d i n a t i o n

o

theBeachwalk

proec,

c o n n e c t i n g

L u m m u s Parkwth

he

erminus

ofthe

existing

w o o d e n b o a r d w a l ka

23rd S t r e e t .

C l o s e -

ouo


r e l a t e d

i s s u e s

a

the

n c h o r

Shopsand

Parking

a r a g e . C o o r d i n a t i n g

the

id

p r o c e s s

for

he

leasng

n d

m a n a g e m e n to

the

e t a i l

c o m p o n e n t

o

the

n c h o r

Shopsand

a r k i n g

Garage,

n d negotiatinga

o n t r a c twthhe

8/15/2019 362-2000 RDA

8/8

I

Continuing

to

negotiate

leases and coordinate tenant

improvements

in the

Anchor

Shops

until

such

time that

a

contract is awarded

to

propertyl leasing manager.

I

Coordinating

and

facilitating

completion

of

construction

and

opening

of

the

Ro y a l

Palm

Crowne

Plaza

Project.

I

oordinating

and

facilitating

the

ground-breaking

and construction

of

the Lincoln

Plaza

and

Lincoln Place

projects.

I

Administering

Management

and/or

Lease

Agreements

with

Loews, RDP

Ro y a l

Palm

Hotel, Ltd.,

Quik

Park and

the

Retail

Manager

for

the

Anchor

Shops.

I

oordinating

impact

mitigation

efforts

associated

with

the

FDOTs

reconstruction

ofCollins

Avenue.

I

Cont inuing

to

administer

and

coordinate

the

Management

Agreement

with

the

State

of

Florida,

Depar tment

of

Management

Services,

in

connection

with

the

grant-

funded

expansion

and

renovation

of

the

Colony

Theater.

It

should

be

noted

that in accordance with

the

Interlocal

greement

betweenMiami Dade

C o u n t y

and

the

City

of

Miami Beach,

administrative

costs

remain

capped

at

5 0 0 ,

000

in

it y

Center.In

ouh

ointe,

d m i n i s t r a t i v e

costshave

b e e n

reduced

by

3

p e r c e n t

f r o m

las

year'

s

budget,

from

818

3 0 to

793

430.

P r o p o s e d

C a p i t a l

expendituresin

oth

districts are

based

on

a n t i c i p a t e d / projected

costs

associated

wth

completing

certain

e x i s t i n g

p r o j e c t s

and

u n d e r t a k i n g

new

d e v e l o p m e n t

activity

in

the

rea.

In

order

o a d d r e s s

these

x i s t i n g

and

fuue

o b l i g a t i o n s ,it

se c o m m e n d e dthahee d e v e l o p m e n t

Agency

adopt

the

attached r e s o l u t i o n

w h i c h

e s t a b l i s h e s

operating

budgets

for

o u t h P o i n t e

andC i t y

C e n t e r

Redevelopment

Documents

362-2000 RDA