EASEMENT OVER, ACROSS AND UNDER THE CITY RIGHT-OF-WAY AREAS; AND (2) DEVELOP, DESIGN, AND CONSTRUCT, AT THE DEVELOPER S SOLE COST AND EXPENSE (EXCEPT
FOR PAYMENT OF CERTAIN CITY FEES), CERTAIN PUBLIC PARK AND STREETSCAPE IMPROVEMENTS IN THE VICINITY OF OCEAN TERRACE, BETWEEN 73RD STREET AND 75TH STREET, WITH SUCH PUBLIC IMPROVEMENTS HAVING A VALUE OF APPROXIMATELY FIFTEEN MILLION DOLLARS ( 15,000,000) March 13, 2019 - C4 F Sponsored by Commissioner Arriola Office of the City Manager/Public Works Status: Item deferred to the June 28, 2019 FCWPC meeting.
6. DISCUSS THE PROPOSED VACATION OF AN ALLEY IN THE NORTH BEACH TOWN CENTER CORE (TC-C) DISTRICT BETWEEN ABBOTT AVENUE AND BYRON AVENUE, FROM 71ST
STREET TO 72ND STREET, IN FAVOR OF ABBOTT AVENUE PARTNERS, LLC; PUMPS AT 71, LLC; AND 7433 COLLINS AVE CORP April 10, 2019 - C4 AH Sponsored by Commissioner Alem n Public Works Status: Item deferred to the June 28, 2019 FCWPC meeting.
32. DISCUSSION REGARDING VACATING A PORTION OF OCEAN COURT BETWEEN THE CLEVELANDER AND ESSEX HOTELS IN FAVOR OF THE JESTA GROUP PURSUANT TO SECTION
82-37 OF THE CITY CODE TO ENABLE PEDESTRIAN BRIDGE TO LINK BOTH PROPERTIES June 5, 2019 - C4 F Sponsored by Commissioner Arriola Public Works Status: Item to be heard at the July 31, 2019 FCWPC meeting.
The Preliminary FY 2020 General Fund budget based on the 2019 Estimated Taxable Values as of June 1, 2019 provided by the Miami-Dade Property
Appraiser s Office has a revenue increase of 300,000, or 0.1 percent, and expenditure increase of 5.2 million, or 1.5 percent, for a net difference of 4.9 million. The Preliminary FY 2020 General Fund budget will be updated again following distribution of the Certified Taxable Values that will be provided by the Miami-Dade County Property Appraiser s Office on July 1, 2019.
The Preliminary Operating millage rate for FY 2020 is proposed to remain the same at 5.7288 mills while the Preliminary Voted Debt Service millage
rate for FY 2020 is proposed to be increased by 0.1338 mills from the FY 2019 Adopted Debt Service millage rate of 0.1600 to 0.2938 mills based on the 3.0 percent increase in the 2019 Estimated Taxable Values over the 2018 Certified Taxable Values as reported by the Miami-Dade County Property Appraiser s Office. This increase in the Preliminary FY 2020 Voted Debt Service millage rate is necessary to fund the first tranche totaling 153 million of the overall 439 million General Obligation (G.O.) Bond program approved by the voters on November 6, 2018.
At the May 21, 2019 Commission Budget Workshop, the Mayor and City Commission was briefed regarding the Preliminary FY 2020 General Fund budget. The
preliminary budget represents the cost of providing the same level of services as in the prior year and serves as the baseline of funding for the budget development process. The Preliminary FY 2020 General Fund budget reflected a net difference of 9.5 million without any change in property tax revenues from the prior fiscal year. After accounting for all other General Fund revenues, the necessary increase in property values to balance the FY 2020 General Fund budget was estimated at approximately 5.6 percent.
Overall, preliminary FY 2020 revenues are estimated to increase 300,000, or 0.1 percent, primarily due to an increase of 4.7 million in property tax
revenues, which assumes keeping the current Operating millage rate flat at 5.7288 mills. This increase in property tax revenues for FY 2020 is, however, being largely offset by a decrease in Building, Planning, Fire, and Public Works- related permit revenues of 1.7 million, a decrease in other taxes (franchise fees and utility taxes for electricity, gas, telecommunications, etc.) of 1.5 million based on current year trends, a decrease in the use of prior year fund balance for one-time expenditures budgeted in FY 2019 of 1.1 million as set forth by Resolution 2006-26341, and a decrease in miscellaneous revenues of 92,000. These figures do not assume any change in the FY 2019 annual contributions from the City Center Redevelopment Agency (RDA) of 4.4 million (as set forth in the 4th Amendment to the Interlocal Agreement with Miami-Dade County) or Parking Fund of 1.2 million for FY 2020.
These expenditure figures do not assume additional savings from potential efficiencies and/or reductions and do not include the potential impacts of
four out of the five collective bargaining agreements currently in ongoing negotiations that are yet to be ratified between the City and the Fraternal Order of Police (FOP), Communications Workers of America (CWA), Government Supervisors Association of Florida (GSAF), and American Federation of State, County and Municipal Employees (AFSCME).
There are two main components to the City s Total Combined millage rate, which are an Operating millage rate and the Voted Debt Service millage rate.
The Operating millage rate, which is comprised of a General, a Renewal and Replacement, and a Pay-As-You-Go (PayGo) component, funds General Fund operating and capital expenditures while the Voted Debt Service millage rate funds debt service for previously issued G.O. bonds.
On November 6, 2018, the City of Miami Beach voters approved the issuance of a 439 million G.O. Bond to fund a total of 57 capital projects citywide,
ranging from vertical construction, roadwork, park constructions and renovations, technology implementation, renewals and repairs, and underground infrastructure work. The FY 2020 Voted Debt Service millage rate would provide for funding of the first tranche totaling 153 million of the 439 million G.O. Bond program through the assessment, levy, and collection of ad-valorem tax on all property with the City and the full faith, credit, and taxing power of the City pledged to the payment of the principal and interest of the bonds issued as part of the G.O. Bond approved by the voters.
In FY 2020, the total required debt service payment is 11.8 million, which requires the levy of a Voted Debt Service millage rate of 0.2938 mills.
The FY 2020 Voted Debt Service millage rate is 0.1338 mills more than the FY 2019 Voted Debt Service millage rate of 0.1600 due to the new G.O. Bond Program. The required 11.8 million payment in FY 2020 is comprised of remaining debt service required for the City s 2011 G.O. Bonds of 4.7 million, plus 7.1 million attributed to the new G.O. Bond Program.
By August 4, 2019 the City Manager will certify the proposed millage rate to the Miami-Dade County Property Appraiser. The proposed millage rate will
be included in the TRIM notices that will be mailed by the Property Appraiser on August 24, 2019. The purpose of the TRIM notice is to notify property owners of how much their property taxes could potentially increase or decrease and which governmental entity is responsible for the taxes levied.
As such, the proposed millage rate effectively sets the ceiling for the millage rate during the budget process because it cannot be increased without
sending out a new TRIM notice to all property owners in Miami Beach. However, the millage rate can remain the same or be decreased throughout the remainder of the budget process until the final millage rates are adopted by the Mayor and City Commission at the second public hearing to be held on September 25, 2019 at 5:01 p.m.
The Preliminary FY 2020 General Fund budget will be updated again following distribution of the Certified Taxable Values provided by the Miami-Dade
County Property Appraiser on July 1, 2019. Recommendations regarding balancing of the Preliminary FY 2020 General Fund budget, including revenue and expenditure refinements and reductions/efficiencies, will be discussed at the upcoming July 19, 2019 and July 26, 2019 Finance and Citywide Projects Committee (FCWPC) budget briefings. An additional Finance and Citywide Projects Committee (FCWPC) budget briefing has been tentatively scheduled for July 31, 2019, if necessary.
In September, two public hearings will be held per the State of Florida s TRIM requirements. The first public hearing scheduled on September 11, 2019
will be to adopt the tentative millage rates and budgets for FY 2020. The second public hearing scheduled on September 26, 2019 will be to adopt the final millage rates and budgets for FY 2020. Both public hearings, which will begin at 5:01 p.m., will be held in the City s Commission Chambers at 1700 Convention Drive, 3rd Floor, Miami Beach, Florida 33139.