Item Coversheet

Redevelopment Agency - RDA  1.




COMMISSION MEMORANDUM

TO:Honorable Mayor and Members of the City Commission 
FROM:Alina T. Hudak, Executive Director 
DATE:September  28, 2022
 



SUBJECT:

A RESOLUTION OF THE CHAIRPERSON AND MEMBERS OF THE MIAMI BEACH REDEVELOPMENT AGENCY (RDA) ADOPTING AND APPROPRIATING THE MIAMI BEACH REDEVELOPMENT AGENCY CAPITAL BUDGET FOR FISCAL YEAR 2023 AND ADOPTING THE CAPITAL IMPROVEMENT PLAN FOR FISCAL YEARS 2023 - 2027.


RECOMMENDATION

The Administration recommends that the Chairperson and members of the Miami Beach Redevelopment Agency adopt the attached Resolution which establishes a final capital budget for the Miami Beach Redevelopment Agency for Fiscal Year (FY) 2023, and the Capital Improvement Plan for Fiscal Years 2023-2027.

BACKGROUND/HISTORY

Planning for capital improvements is an ongoing process. As needs change within the Redevelopment Area, capital programs and priorities are adjusted. The Capital Improvement Plan (“CIP”) serves as the primary planning tool for systematically identifying, prioritizing, and assigning funds to critical Miami Beach Redevelopment Agency (the “Miami Beach RDA”) capital development, improvements, maintenance and associated needs.

 

The RDA CIP process begins in the Spring, when all departments are asked to prepare capital improvement updates, recommendations and requests on the  ongoing and proposed capital projects. Departments prepare submittals identifying potential funding sources and request funds for their respective projects. The proposed requests are reviewed by the City Manager/Executive Director, and upon approval, are submitted to the Finance and Economic Resiliency Committee (the “FERC”) for review, and if recommended are subsequently forwarded to the City Commission and Miami Beach RDA Board for final approval and adoption.

 

The CIP is a financing and construction/acquisition plan for projects that require significant capital investment and is intended to serve as an official statement of public policy regarding long-range physical development within the Redevelopment Area.

 

The Administration is recommending  the proposed FY 2023 RDA Capital Budget and CIP for FY 2023-2027 following a comprehensive review, ensuring the CIP accurately reflects all projects, budgets, funding sources, and commitments, for adoption by the chairperson and members of the Miami Beach RDA.

ANALYSIS

The FY 2023-2027 RDA CIP specifies and describes the capital project plan and presents a five-year prioritization strategy.

 

The CIP has been updated to include additional funding sources that have become available, changes in project timing, and other adjustments to ongoing projects. Certain adjustments have been made to reflect projects that have been reconfigured, re-titled, combined with or separated from other projects and/or project groupings. These adjustments have no fiscal or monetary impact and are a result of a comprehensive review of the program.

 

Capital funding priorities were discussed during FERC Budget Briefings, held on July 15, 2022 and July 22, 2022. The City Manager (Executive Director of the RDA), Assistant City Managers, the Office of CIP Director, other department directors and staff discussed specific projects and responded to the FERC Committee questions. 

 

During the FERC Budget Briefings, staff presented a preliminary list of unfunded projects requesting funding,  including projects the Administration proposed for funding, subject to the availability of funds. Based on  the FERC direction, a summary of projects, recommended for funding in the FY 2023 RDA Capital Budget is presented below (sorted by funding source).

 

2015A RDA Bond Fund (Fund 309)

  • Convention Center Park (Screen Enclosures) $1,197,000
  • MBCC Cooling Tower Overhaul $   300,000
  •  MBCC Renovation Punch List Items $   501,000
  • TOTAL: $1,998,000

 

RDA Anchor Garage (Fund 463)

  • 16th Street Parking Garage Ventilation  Fan Replacements in Mechanical Rooms $  52,000
  • 16th Street Parking Garage Elevator Lobby Refurbishment $  37,000
  • 16th Street Parking Garage Custodial & Storage Area Across from Office $  43,000
  • 16th Street Garage Building Joint Replacement $  36,000
  • 16th Street Garage Plumbing System Update $  75,000
  • TOTAL: $243,000

 

RDA Penn Garage Fund (Fund 467)

  • Penn Garage-Fire Alarm System $  35,000
  •  Penn Garage-Fire Pump Replacement $100,000
  •  Penn Garage-Fire Sprinkler Renewal $300,000
  • TOTAL: $435,000

SUPPORTING SURVEY DATA

N/A

FINANCIAL INFORMATION

N/A

CONCLUSION

The Administration recommends adoption of the attached Resolution, which establishes the Capital Budget for the RDA for FY 2023 and the Capital Improvement Plan for FY 2023-2027.

Applicable Area

Citywide
Is this a "Residents Right to Know" item, pursuant to City Code Section 2-14? Does this item utilize G.O. Bond Funds?
Yes No 

Strategic Connection

Organizational Innovation - Ensure strong fiscal stewardship.
Legislative Tracking
Economic Development

ATTACHMENTS:
Description
FY 2023-2027 CIP Funding Summary (RDA)
Resolution