| | | | | | | | TO: | Finance and Economic Resiliency Committee Members
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| FROM:
| Alina T. Hudak, City Manager |
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| DATE: | October 16, 2023
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| SUBJECT: | DISCUSS ALLOCATING FUNDING TO THE LINCOLN ROAD BUSINESS IMPROVEMENT DISTRICT. |
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| | | | | | | | HISTORY:
| On September 13, 2023, the Mayor and City Commission approved Resolution No. 2023-32753, sponsored by Commissioner Rosen Gonzalez, allocating funding in the amount of $48,980.63 to the Lincoln Road Business District (LRBID) to fund and purchase the installation of the outdoor musical instrument fixtures as part of the Freenotes Harmony Park. Additionally, on September 13, 2023, the Mayor and City Commission also approved Resolution No. 2023-32754, allocating funding in the amount of $29,644.35 for the LRBID to purchase and install a “Lincoln Road” welcome sign. Both installations are to be located at the 400 Block entrance to Lincoln Road, between Washington Avenue and Drexel Avenue. At said meeting, a motion was made to appropriate funding in an amount totaling $100,000 to support both requests (items C7 AE and C7 AF, respectively).
Similarly, on September 27, 2023, item R9 A sponsored by Commissioner Fernandez, requesting funding for Lincoln Road improvements was discussed. The item addresses two funding requests for the LRBID: 1) the purchase of the “Lincoln Road” sign in the amount of $29,644.35 and 2) funding for year-round holiday lighting in the amount of $139,121.50 for the 400, 500, 700, 800, 900, 1000, and 1100 blocks of Lincoln Road. At said meeting, the Mayor and City Commission approved a referral to the Finance and Economic Resiliency Committee (FERC or the Committee) to discuss collectively the Lincoln Road improvements (C7 AE, C7 AF and R9 A) funding requests. |
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| | | | | | | | ANALYSIS:
| The proposed funding for the Lincoln Road improvements could potentially activate, enhance, and revitalize targeted areas on Lincoln Road. In assessing the LRBID’s funding requests, the Finance and Economic Resiliency Committee should also consider the fiscal impact for any recurring maintenance costs associated with these installations. Currently, no funding has been earmarked for the maintenance or repair of these projects. The Committee should further determine if future budget appropriations to maintain installations would be the City’s or the LRBID’s responsibility, to assure these are appropriately submitted through budget process. |
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| | | | | | | | CONCLUSION:
| Based on the foregoing, the Administration recommends the Committee discuss and determine the funds to be allocated supporting the Lincoln Road improvements. |
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| | | | | | | | Applicable Area
| South Beach |
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| | | | | | | | 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 | |
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