Post on 05-Jul-2018
8/15/2019 301-98 RDA
1/13
RESOLUTION
NO.
3 0 1 -
98
E S O L U T I O NO
HE
CHAIRMAN A N D
M E M E R S
OF
THE
MAM
EACH
R E D E V E L O P M E N T
AGENCY
ADOPTING
M E N D E D
B U D G E T S FOR
THE
O U T H P O I N T E
AND
CTY
ENTER
R E D E V E L O P M E N T
AREAS
FOR
FSCAL
Y E A R
1997/
98
H E R E A S , the
proposed
b u d g e t s
have
b e e n
p r e p a r e d
to
o i n c i d e
wh
the
v e r a l l
Cty
u d g e t
process;
and
W H E R E A S , the
proposed
b u d g e t s
have
been
m o d i f i e d
from
prior
yeas
to
eflect
a n t i c i p a t e d construct ion
p r o j e c t
costs
ind d i t i o n
to
p e r a t i n g an d
debt
serv ice
costs
for
the
fisca
yeaE
IT
DULY
E S O L V E DBY
H~
H A I R M A N
AND
M E M B E R S
O
HE
I A M I B E A C H
R E D E V E L O P M E N T
A G E N C Y ,
tha
theBoad
hereby
a d o p t s
the
a m e n d e d
b u d g e t s for
the
South
Pone
nd
it y
Center
R e d e v e l o p m e n t
A r e a s
fo
Fsca
Year1997
8
as
a t t a c h e d .
P A S S E D
AND
D O P T E D t h i s
9h
day
of
September
1 9 9 8 .
V
1
C H A I R M A N
ATTEST:
rP~~
S E C R E T A R Y
T\
G E N D A \
S E P 0 9 9 8 \
RDA
B U D G E T 9 7 ,
RES
APPROVED
A S T O
F O R M &
L N G U G E
FOR
X E C U n O N
A t t a c h m e n t s
f41~~
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MIAMI
BEACH REDEVELOPMENT
AGENCY
Proposed
Budget
FY
97/
98
Cty
e n t e r
R edeve l opmen t
Area R e v e n u e s
and
Other
Operang
Deb
o n s t r u c t i o n Sources o Income Fund
Service
Fund
O p e n i n g B a l a n c e Series 96B
Bond Fund $
0
3
00,
000ax
Increment $
3
067020 $
0
o n t r i b u t i o n
from
R e s o r t Tax (
1%
0,
392,
500 $
0
o n t r i b u t i o n
from Resort Tax(2%
7 5 ,
9980
ontr ibut ion
from GMCVB
0$
00,
000
0
nterest
I n c o m e $
45000
300
00
0
ty
s
neo
Credit to
RDA
0
0
3
690
000
O p e r a t i n g
Transfers
In
2
12
502
0
8
Bond
Issue
Funds (
Series
A&
B
0$
7, 000,0 0 0 Fund B a l a n c e
Car r yove r $
0
0
Toa
Revenue: $
3
1 1 2 ,502
5
98100
54
90,
000
O p e r a t i n g
Debt C o n s t r u c t i o n Operating
Expen s es :
Fund
Servce
Fund
M a n a g e m e n t Fee
414
000
0
dvertising &
P r o m o t i o n $3
00
0
0
Deb
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MIAMI
BEACH REDEVELOPMENT
AGENCY
Proposed
Budget
FY
97
98
Souh
o in te
Redevelopment
Area R e v e n u e s
and
Other Operang
Deb
o n s t r u c t i o n
Sources
o
Income
Fund
S e r v i c e
Fund
Taxncrement $
5
195
059$
0
0
aina
e n t a l
120,
000
0
0
obb
Receivable $
89
667$
0$
nees
Income
42
000
45
00
0
p e r a t i n g
Transfers
In
030
00
0
ap i ta l
Project
Funds
0
0$
3
72
000
Fund
Balance
C a r r y o v e r $
0
0
Total
R e v e n u e : $
5
46
726$
875
000$
3
472
0 0 O p e r a t i n g
Debt
Construc t ion O p e r a t i n g
E x p e n s e s :
Fund
Serv ic e
Fund
anagement
Fee14
000$
0
0
Advertising &
P r o m o t io n $
3
000
0
0
Debervice
Cost
0$
875
00
0
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Miami Beach
Redevelopment
Agency
1700onvention
Center
Drive
Miami
Beach,
l o r i d a
JJ
139
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.
98
C
S e p t e m b e r
9
1998
TO
C h a i r m a nand
Members
o
the
i a m i
Beach
edeveop
en
gency
FROM
Sergo
R o d r i g u e z
Execut ive
Drector
SUBJECT:A
E S O L U T I O N
APPROVING FSCAL
YEAR
1997/
98S O U T H P O I N T E
A N D
CTY
CENTER
U GETS
A M E N D E D
F R O M THOSE
PREVIOUSLY
M A D E
PART
OF
THE
ITY'
S
997/
98
B U D G E T
D O C U M E N T S
R E C O M M E N D A T I O N
Adopt
the
Resolut ion.
B A C K G R O U N D
In
S e p t e m b e r
1 9 9 7 , the
R e d e v e l o p m e n t
A g e n c y
o p e r a t i n g budgets
for
Cty
e n t e r
and
o u t h
Pone
w e r e presened
as
artof
the
verall
Cty
b u d g e t
p r o c e s s . (
See
t t a c h m e n t
A)u b s e q u e n t l y ,
in
o v e m b e r 1997,
the
d m i n i s t r a t i o n
r e c o g n i z e d that
the
s s e s s e d
v a l u e s
p r o v i d e d
bythe
MamDade
C o u n t y
P r o p e r t y
A p p r a i s e r '
s
ffice
a p p e a r e d
to
beow
o m p a r e d
to
th e valueoo n s t r u c t i o n c o m p l e t e d
during
the
rior year. U p o n
revew
by
he
P r o p e r t y Appraiser '
s
Ofice
it
as
i s c o v e r e d t h a t
the
reported
s s e s s e d value
for
the
r e d e v e l o p m e n t
d is t r i c t s
dd
not
reflect
new
o n d o m i n i u m uni tswthn
each
ofthe
e d e v e l o p m e n t
areas and
a
evised
report w a s
p r e p a r e d .
Ths
e v i e w revealed
thathes s e s s e d
v a l u e s
fo r
both South
P o i n t e
and
C i t y
C e n t e r
were,
in
f a c t ,
u n d e r e s t i m a t e d .
The
ssessed v a l u e s
i n c r e a s e d
om5%
o
25
9%
in
ouh
Pone,
and
ro m2
0%
o
8%nity
C e n t e r .
Inhe
intervening
m o n t h s ,
the
ity
o m m i s s i o n lR e d e v e l o p m e n t
A g e n c y
Board r e q u e s t e d
and
eceived e x t e n s i v e
f inancial
r e p o r t s
on both r e d e v e l o p m e n t
areas,
In
S o u t h Pointe,
th e
r e p o r t
c o v e r e d
the
revious
ten
yeas
and
in
Cty
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ANALYSIS
The
operat ing
budge t s
forFY
97
8
wh i ch
ae
e ing
s u b m i tt e d
today
have
een
m o d i f i e d
from
p r i o r
years
to
elec
a n t i c i p a t e d
c o n s t r u c t i o n
pr o j ec t
r e l a t e d costsin
addition
to
p e r a t i n g
anddebt
s e r v i c e
c o s t s
for
the
f i s c a l year.
In
he
case
o
ity
C e n t e r ,
on
July
1
998,
the
Cty
o m m i s s i o n l R e d e v e l o p m e n t
Agency
Board a p p r o v e d
an
d d i t io n a l $
38.
2
Million
bond
s s u e
w h i c h
w i l l go
o w a r d s repaying
the
Ci ty '
sine
o
r e d i t to
the
DA
as
wel
as
to
omplet ing
i m p o r t a n t p r o j e c t s underway
in
Cty
Center. Inthe
as e
o
o u t h
P o i n t e ,
the
A m i n i s t r a t i o n
has
uing
the
pas
ear,
p r o v i d e d
severa
dif ferent b u d g e t
s c e n a r i o s
for
c a p i t a l
i m p r o v e m e n t s
b a s e d
on
aay-
as-you-
go
strategy
rather
than
thessu a n ce
oddi t ional
b o n d s . TheSouhPonte
b u d g e t
presen ted
wth
this
mem
eflects
this
a p p r o a c h .
C O N C L U S I O N
The
d m i n i s t r a t i o n
r e c o m m e n d s
tha
the
R e s o l u t i o n s
approving
the
o u t hPone
and
City
Center
budgets,
as
a me nd e d
from
he
p r o p o s e d
b u d g e t s
that
were
i n c l u d e d
as
pa
of
the
i t y
s
1 9 9 7 /98
b u d g e t
d o c u m e n t ,
be
a d o p t e d .
I
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MIAMI
BEACH
REDEVELOPMENT
AGENCY
South
Pointe
and
City
Center
ATTACmlENT
A
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MIAMI
BEACH
REDEVELOPMENT
AGENCY
Tne
Miami
Beach
R e d e v e l o p m e n t
A g e n c y
was
created in
1973.
The
g e n c y ,
in
c c o r d a n c e
wi t h
the
ommunity
R e d e v e l o p m e n t
Ac,
r e p a r e d
the"
outh
Shoe
e d e v e l o p m e n t
P l a n for
the
area
l e n e r a l l y
s o u t h
o
ixth
Street.
D ue
to
the
e t r o p o l i t a n f o r m
o
o v e r n m e n t
an d
the
Dade
C o u n t y
H o m e
Rue
C h a r r e r .
the
r e a t i o n
of
the
e d e v e l o p m e n t
A g e n c y
an d
the
pan
wee
e n d o r s e d
by
the
Couny
C o m m i s s i o n .
From
p p r o x i m a t e l y
1973
through
1983,
he
a g e n c y
operated
as
nn d e p e n d e n t
authori ty \
vith
a
o a r d
of
C o m m i s s i o n e r s .
In
1983
he
Agency
w a s
r e o r g a n i z e d
and
i n c o r p o r a t e d
in
he
Cty
o
i a m i
B e a c h
a d m i n i s t r a t i v e
structue
and
the
it y
C o m m i s s i o n wa s
d e s i g n a t e d
to
erve
as
the
R e d e v e l o p m e n t
A g e n c y
Boad.
n
1993,
the
ty
d e s i g n a t e d
a
econd
r e d e v e l o p m e n t
aea
The
Cty
e n t e r /
Hstoric
o n v e n t i o n
Vllage
Redevelopment
an d
Revitalization
Area(
H C V R R A )
e n c o m p a s s e s
the
C o n v e n t i o n Cener
and
i n c o l n
Road,
Tax
I n c r e m e n t
F i n a n c i n g (
TF)
h r o u g h
the al e
o
onds
ha s
been
a
aor
too l
for
t i n a n c i n g
r e d e v e l o p m e n t
activities.
To
dae
ou
b o n d
issues
have
c c u r r e d ,
o n e
in
Souh
o i n t e
in
989,
in
h e
a m o u n t
o
7i l l i o n
an d
threein
City
C e n t e r :
o n e in1994or
25
i l l i o n
and
1:'.
vo
in
996,
in
he
a m o u n t s
of
35
million
and
7.
7
i l l i o n .
It
s
n t i c i p a t e d
tha
a d d i t i o n a l
deb
n
he
amounto
0
4
i l l i o n \ \
ill
be
s s u e d
in
outh
Poin te
fo r
p r o j e c t
aea
o m m i t m e n t s
and
for
n g o i n g
r e d e v e l o p m e n t
activities
s u c h
as
t r e e t s c a p e
i m p r o v e m e n t s .
An
a d d i t i o n a l
b o n d
issue
isaso
lanned
for
Ci ty
Cener
in
the
m o u n t
o
5
30
i l l i o n for
FY
7 /
98
in
r d e r
to
f i n a n c e
c a p i t a l
expenditures
r e l a t e d to
the
convent ion
hote l
projects
and
t r e e t s c a p e
projects.
B a s e d
on
l a s t
year '
s
actual
gro\
vh
in
ax
as~
s s m e n t s
for
the
1.
o
reas,
only
m o d e r a t e
g r o w t h
is
rojected
for
FY
7/
98
In
ty
e n t e r ,
g r o w t h
has
b e e n e s t i m a t e d
a t
2
percen t
s i n c e
no
significant
p r o j e c t s
h a v e
c o m e
on
ine.
s
the
e w
hotel,
residential
and
c o m m e r c i a l
d e v e l o p m e n t s
come
on
ine
wthn
he
nex
t\
VO
years,
the
tax
increment
fo
he
Cty
enter
Area
is
nticipated
togrow
s ign i f i can t ly ,
Fo
o u t h
Pone
tax
a s s e s s m e n t s
ae
nt ic ipated
to
i n c r e a s e
by
0
5
ercent.
POLICY
D I R E C T I V E S
To
s s u r e
c o n t i n u e d
economic
v i a b i l i t y
within
d i v e r s e
uban
areas.
To
incur
minimum
r e l o c a t i o n
and
o n d e m n a t i o n
To
involve
c o m m u n i t y
r e s i d e n t s
inhe
r e d e v e l o p m e n t
p r o c e s s .
To
8/15/2019 301-98 RDA
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To
r ec ogn ize
the
historic
structures
and
des ignat ions
wthin the
historic
districts
and
facilitate
d e v e l o p m e n t
accordingly
SOUTH
POINTE
REDEVELOPMENT
AREA
The
area,
or iginal ly
designated
in
1 9 7 3
as
the
South
Shoe
e d e v e l o p m e n t
Area,
was
lae
renamed
South
Poin te .
Ths
210-
ace
area
contains
severa
i m p o r t a n t
c o m p o n e n t s .The
Marina
area,from
F i f t h
Street
to
i s c a y n e
S t r e e t
east
o
Aton
o a d , i n c l u d e s
the
iami Beach
Marina
w h i c h
contains
a
o re b u i l d i n g
an d
a
400-
lip
marina.
U t i l i z i n g
TF
unds,
ahree-
bock,
mxed-
use
res iden t ia l
d e v e l o p m e n t
w as
initiated
b
he
A g e n c y .
Through
the
RFP
r o c e s s ,
Cobb
Properties,
Ltd.,w as
selected
as the
d e v e l o p e r
o
hs
m a j o r
project,
a l l e d
theourts
o
o u t h
Beach. C o n s t r u c t i o n
is
wel l
undeI '
vVay,
and
unt
sa les
ae
t r o n g .
The
r o p e r t yis
x p e c t e d
to
eturn
to
he tax
rolsfor
the
c u r r e n t
f i s c a l
year.Asa
esult
o
the
South
P o i n t e
S t u d y ,
prepared
by
the
niversi ty of
Mam
S c h o o l
o
r c h i t e c t u r e ,
TheCty
o
am
Beach
d o p t e d
s u b s t a n t i a l
amendments
to
he
P e r f o r m a n c e
S t a n d a r d s D i s t r i c t
Chapter
20
f
the
Zoning
O r d i n a n c e
in
994.
In
u r t h e r i n g
these
r e g u l a t i o n s ,
The
ity
has
approved
in
o n c e p t
draft
design
g u i d e l i n e s
p r e p a r e d
by
u a n y
P l a t e r Zyberk (
DPZ),
A r c h i t e c t s
and
T0
Vn
P l a n n e r s .
During
the
ast
f i s c a l
year,
a
t r e e t s c a p e C o n c e p t
Pan
fo
outh
Pointe
has
ee n
adopted,
I m p l e m e n t a t i o n
shoud
egin
d u r i n g
FY
98.
CTY
ENTER
R E D E V E L O P M E N T
AREA
he
332
cre
Cty
e n t e r I H i s t o r i c
Convention
V i l l a g e
R e d e v e l o p m e n t
ande v i t a l i z a t i o n
Aea
C C I H C V R R A
was
s t a b l i s h e d
in
1993.
n
o r d e r
to
n s u r e
p u b l i c
p a r t i c i p a t i o n
in
the
c r e a t i o n
o
he
pan
o r
the
area
the
Cty
f
Miami
Beach
c r e a t e d
a
Citizens
A d v i s o r y
T e c h n i c a l
C o m m i t t e e
to
p ro v i d e i n p u t
and
takeholder
p a r t i c i p a t i o n
in
he
r o c e s s ,
A
er ies of public
m e e t i n g s
and
w o r k s h o p s
were
held
as
e ll
as
one-
on
one
e s s i o n s
wth
key
e m b e r s
o
the
Historic
P r e s e r v a t i o n
c o m m u n i t y ,
the
usiness
community,
and
area
res iden ts , resulting
in
an
u n p r e c e d e n t e d
c o m m u n i t y c o n s e n s u s -
bui ld ing
effort.
Athough
e l a t i v e l y
ne w
by
o m p a r i s o n
to
he
S o u t h
Pointe
R e d e v e l o p m e n t
Area
he
Cty
e n t e r
R e d e v e l o p m e n t
A r e a
is
l r e a d y
u n d e r g o i n g
dynamic
change
through
a
c o m b i n a t i o n
o
u b l i c
and
private
i n v e s t m e n t
intiaives.
x c i t i n g
ne w
projects
shaping the
aea
n c l u d e
the
r oundb r eak ing
o
he
L o e w s
M i a m i
Beach
HoteL
an
800-
o o m
convention
h e a d q u a r t e r
hoe
on
an
A g e n c y -
o w n e d
ste
o c a t e d
at
Collins
A
venue
and
16h
t r e e t ;
the
execut ion
o
a
L e t t e r
o
n t e n t (
L O I )
b e t v v e e n
the
R e d e v e l o p m e n t
Agency
and
D P
R o y a l
P a l m .
Ld.,ouild
the
firs
African-
Americano\V
1ed
hotel
on
an
g e n c y - owned
a r c e l ;
c o n s t r u c t i o n
8/15/2019 301-98 RDA
10/13
needs
for
the Loews
Miami
Beach
Hotel,
the
African-American
Hotel
and
other
service and
retail
businesses
in
the
aea
an
18
llion
v e r h a u l
o
i n co ln
Road,
partially
funded
wi th
the
a r t i c i p a t i o no
u s i n e s s e s
on
incoln
Road;
e s i g n
and
n g i n e e r i n g
w o r k
for
the
x t e n s i o nof
the
e a c h w a l k
f r o m
21st
S t r e e t
to
u m m u s P a r k ;
and
m p l e m e n t a t i o nof
the
m a s t e r
p l a n for
the
area
e a s t
of
the
Miami
Beach
C o n v e n t i o n
Center,
n c l u d i n g
th e
17th
a n d
18h
s t ree t
ends
and
ashington
Avenue
b e n v e e n
Dade
o u l e v a r d
a n d
17th
S t r e e t .
The
City
and
e d e v e l o p m e n t
g e n c y
s
o m m i t m e n t
to
p g r a d i n g
and
m p r o v i n g the
r e a 's
inra-
tructure,
d d r e s s i n g
p a r k i n g
and
i r c u l a t i o n
i s s u e s ,
and
acili tating
new
e v e l o p m e n t
has
already
prompted
signif icant
new
private-
sector
n v e s t m e n t
in
the
area.
o m e
o
these
projects
i n c l u d e
II
i l l a g i o
and
1500
Oce an
Steps,
tw
uxury
c o n d o m i n i u m /
re ta i l
d e v e l o p m e n t s on
O c e a n
D r i v e
and
5th S t r e e t s
and
R I/
Finestra'
s
8creen
movie
theater/
r e t a i l c o m p l e x
planned
for
the
o m e r
olton
and
Lncon
oads.
The
r e d e v e l o p m e n t
aea
has
aso
seen
the
e c e n t
major
renovat ion
o
several
s i g n i f i c a n t
hotels
including
the
Delano
Nat ional
a nd
s o m e
others
unde
Vay.
U D G E T
H I G H L I G H T S S o u t h P o i n t e
Interface
wth
the
cean Beach
H i s t o r i c
District
c r e a t e din
1996
repare
to
issue
a d d i t i o n a l
bonds
or
p r o j e c t
a r e a
c o m m i t m e n t s ,
as
wel
s
to
n d e r t a k e
i m p r o v e m e n t s
in
the
rea.
Continue
to
m p l e m e n t
th e
s t r e e t s c a p e design
p l a n
inhe
aea
I
a c i l i t a t e
the
o p e n i n g
of
a
ew
library
ino u t h
Pointe.
C l o s e -
ou
the
C o u r t s
oSouth
Beach
p r o j e c t
and
eaed
s t r ee t s c apes .
Cty
Cene/
HCVRRA
Facilitate/ o v e r s e e
c o n s t r u c t i o n
process
relative
to
he
Loews
Mam
Beach
H o t e L
Facilitae
permitting
p r o c e s s
and
c o m m e n c e
c o n s t r u c t i o n
o
he
Royal
Pam
CroVine
Plaza
Resort (
African-
American
hote
p r o j e c t ) .
Facilitae/
oversee
p e r m i t t i n g
a n d
c o n s t r u c t i o n
p r o c e s s
fo
6th
S t r e e t
par k ing
gaage
and
16h
Sree
x t e n s i o n
projects,
Oversee
i m p l e m e n t a t i o n
of
s t r e e t s c a p e
i m p r o v e m e n t s
for the
aea
east
o
he
C o n v e n t i o n
C e n t e r ,
b e t w e e n
17th
Sree
and
8h
Street.
Coord inate
b o a r d w a l k
e x t e n s i o n
p r o j e c t
between
21
8/15/2019 301-98 RDA
11/13
Negot ia te
land
acquis i t ion
and issue
RFP(
s)
for
the
d e v e l o p m e n t
of
par k ing
garage
facilities
on
the
east and
west
ends
of
Lincon
Road and in
the
Museum District.
F
acilitate/
oversee
permitting
and
implementation
of L R l / i n e s t r a
multiplex
movie
theater
project,
in accordance
wth
Alley
Vacation
Agreement.
Coordinate
impact
mitigation strategy
for
infrastructure
i m p r o v e m e n t s
underway
on
Colins
A
venue
bet\.
een
15th
t r e e t and
2 2 n d S
8/15/2019 301-98 RDA
12/13
MIAMI
BEACH
REDEVELOPMENT
AGENCY
Proposed
Operating
Budget
FY
97
98
Souh
ointe
Redeve lopment
A r e a
R e v e n u e s
and
Other
O p e r a t i n g
Deb
o t a l
Sources
o
Income
F u n d
Servce
Tax
ncrement $
5
95
059$
0
5
95
5 9
Mar ina
Rena
120
000
0
120
000
CobbR e c e i v a b le $
89
667$
0
89
67
Interest
Income
42
000$
5
000$
87
000
O p e r a t i n g
Transfers
In
0
30
000
830
000
und
Balance
C a r r y o v e r $
0
0
0
Toa
Revenue:
5
46
726
875
000$
6
21,
726
Oper a t i ng
Deb
p e r a t i n g
Expenses:
F u n d
Serv ice
Total
M a n a g e m e n t
Fee
414
000$
414
00
Advert is ing &
Promotion
3,
000$
0
3
8/15/2019 301-98 RDA
13/13
MIAMI
BEACH
R E D E V E L O P M E N T
AGENCY
P r o p o s e d
O p e r a t i n g
Budget
FY
97/
98
Cty
e n t e r
R edeve lopmen t
Area
R e v e n u e s
and
Other
O p e r a t in g
Deb
o t a l
Sources
o
Income
F u n d
Service
Tax
n c r e m e n t $
3
67,
502
0
3
067
502
Contr ibution
from
e s o r t
Tax
389
389
0
3
89,
389
ont r ibu t ion
from
GMCVB
900,
000$
900
000
Interest
Income
24,
000$
00,
000
324
000
Operating
Transfers
In
0
6
980,
891
6
80
891
Fund
alance
C a r r y o v e r $
0$
0
0
otal
R e v e n u e : $
7
480
891$
,
280
91
14