HomeMy WebLinkAbout2026-092-2549_-_FY_2027_CRA_Budget_-_Adopted.docxRESOLUTION NO. 2026-092-2549
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
MIAMI GARDENS, FLORIDA, APPROVING THE FISCAL YEAR
2027 MIAMI GARDENS COMMUNITY REDEVELOPMENT
AGENCY BUDGET, AS SET FORTH IN EXHIBIT “A”;
AUTHORIZING THE CITY MANAGER TO SUBMIT
SUPPORTING FISCAL YEAR 2027 DOCUMENTS AND
REPORTS TO MIAMI-DADE COUNTY; PROVIDING FOR
ADOPTION OF REPRESENTATIONS; PROVIDING AN
EFFECTIVE DATE.
WHEREAS, Miami Gardens Community Redevelopment Plan was approved by
the Miami Gardens Community Redevelopment Agency (MGCRA) Board and Miami
Gardens City Council in 2019, and
WHEREAS, the CRA Plan addresses the NW 27th Avenue CRA Study Area, and
WHEREAS, the CRA Plan aims to build a destination that will attract visitors,
create jobs, and support the local economy, and
WHEREAS, the Plan prioritizes a catalyst project, the Miami Gardens Performing
Arts Center, and
WHEREAS, the MGCRA's main source of funding derives from Tax Increment
Revenues (TIR), and
WHEREAS, TIR funds are a result of the added value of properties within the CRA
boundary after the base year, 2019, and
WHEREAS, this is not an additional tax, but a portion of the existing property taxes
in that area, and
WHEREAS, the revenue generated from TIR is allocated to build and operate the
Miami Gardens Performing Arts Center specified in the approved Miami Gardens
Community Redevelopment Plan, and
WHEREAS, TIR funds can also cover administrative costs, and
WHEREAS, Fiscal Year 2027 funding sources are derived from the projected
Miami Gardens Tax Increment Revenue (TIR) and the projected Miami-Dade County Tax
Increment Revenue (TIR); and
WHEREAS, for 2026, the preliminary taxable value for the MGCRA is
$1,012,636,164; and
Docusign Envelope ID: A1C474CF-314D-8B76-8029-302771ADCF3E
Page 2 of 3
Resolution No. 2026-092-2549
WHEREAS, MGCRA base year taxable value (2019) was $372,687,355, and
WHEREAS, the difference, $639,948,809 is the increment value, and
WHEREAS, calculating the Municipal TIR by using the Increment Value of
$639,948,809 divided by $1000 x the City's millage rate of 6.9363 and budgeting at
seventy-five percent (75%) of this amount for FY 2027 will yield $3,329,158; and
WHEREAS, taking into account prior years' reduction adjustments of $128,237 will
yield revenue of $3,200,921; and
WHEREAS, the Miami-Dade County TIR will be $2,110,781; and
WHEREAS, Interest proceeds are estimated at $100,000 for the fiscal year, and
WHEREAS, Carryover Fund Balance from FY 2026 is $7,145,071, and
WHEREAS, projected FY 2027 expenditures include CRA operating expenses at
$9,175, professional services and infrastructure improvements related to the Miami
Gardens Performing Arts Center (combined estimated at $3.3M), and an allowable
administrative fee to Miami-Dade County as outlined in the Interlocal Agreement of
$31,662; and
WHEREAS, per the Miami-Dade County Interlocal Agreement, twenty-five percent
(25%) of the County's portion of the CRA revenue is transmitted to Miami-Dade County
to support the Northern Corridor of the SMART Plan ($527,695); and
WHEREAS, the remaining funds will be placed in reserves to support the future
Miami Gardens Performing Arts Center ($8,688,241); and
WHEREAS, Miami Gardens Community Redevelopment Agency expenses are in
accordance with the approved MGCRA Plan and State law, and
WHEREAS, for Fiscal Year 2027, the Miami Gardens Community Redevelopment
Agency will have an adopted budget of $12,556,773; and
WHEREAS, Staff recommends that City Council approve the Fiscal Year 2027
Miami Gardens Community Redevelopment Agency Budget, as set forth in Exhibit “A”;
and
WHEREAS, the City Manager is authorized to submit supporting Fiscal Year 2027
budget documents and reports to Miami-Dade County,
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF MIAMI GARDENS, AS FOLLOWS:
Docusign Envelope ID: A1C474CF-314D-8B76-8029-302771ADCF3E
Page 3 of 3
Resolution No. 2026-092-2549
Section 1. ADOPTION OF REPRESENTATIONS: The foregoing Whereas
paragraphs are hereby ratified and confirmed as being true, and the same are hereby
made a specific part of this Resolution.
Section 2. AUTHORIZATION: The City Council of the City of Miami Gardens
hereby approves the Fiscal Year 2027 Miami Gardens Community Redevelopment
Agency Budget, as set forth in Exhibit “A”; and authorizes the City Manager to submit
supporting Fiscal Year 2027 budget documents and reports to Miami-Dade County.
Section 3. EFFECTIVE DATE: This Resolution shall take effect immediately upon
its final passage.
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF MIAMI GARDENS
AT ITS REGULAR MEETING HELD ON SEPTEMBER 23, 2026.
________________________________
RODNEY HARRIS, MAYOR
ATTEST:
________________________________
MARIO BATAILLE, MMC, CITY CLERK
PREPARED BY: SONJA KNIGHTON DICKENS, CITY ATTORNEY
SPONSORED BY: CAMERON BENSON, CITY MANAGER
Moved by: Vice Mayor Stephens
Seconded by: Councilwoman Baskin
VOTE: 7-0
Mayor Harris Yes
Vice Mayor Stephens, III Yes
Councilwoman Baskin Yes
Councilman Wilson Yes
Councilwoman Powell Yes
Councilwoman Porter Yes
Councilwoman Julien Yes
Docusign Envelope ID: A1C474CF-314D-8B76-8029-302771ADCF3E