BH.4 - Approve Miami Dda Budget

WHEREAS, Section 14-59 of the Code of the City of Miami, Florida, as amended (“City Code”), provides that the Downtown Development Authority of the City of Miami, Florida ("Miami DDA"), shall submit its proposed annual budget for its operations to the City Commission for approval; and

WHEREAS, the Board of Directors of the Miami DDA approved and adopted the Miami DDA's proposed annual budget for Fiscal Year 2026-2027 on September 4, 2026 pursuant to Miami DDA Resolution \_\_/2026 Revised in the total amount ofTwenty-Two Million, Three Hundred Twenty-One Thousand, Five Hundred and 00/100 Dollars($22,321,500.00); and

WHEREAS, the Miami DDA requests the approval of the proposed annual budget for the Fiscal Year (“FY”) commencing October 1, 2026, and ending September 30, 2027, in the total amount of Twenty-Two Million, Three Hundred Twenty-One Thousand, Five Hundred and 00/100 Dollars ($22,321,500.00);

NOW, THEREFORE, BE IT RESOLVED, BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA:

Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by reference and incorporated as if fully set forth in this Section.

Section 2.  The Miami DDA proposed annual budget, attached and incorporated as Exhibit “A,” in the total amount of Twenty-Two Million, Three Hundred Twenty-One Thousand, Five Hundred and 00/100 Dollars ($22,321,500.00), for the operations of the Miami DDA to become the tentative annual budget, for the FY commencing October 1, 2026, and ending September 30, 2027, is approved and adopted, and appropriations are made from the Downtown Development District ad valorem tax levy and other miscellaneous income for the Miami DDA.

Section 3.  The abovementioned operating expenditures are merely anticipatory and thus, the Board of Directors of the Miami DDA is hereby authorized to withhold any of these appropriated funds from encumbrance or expenditure should such action appear advantageous to the economic and efficient operation of the Miami DDA.

Section 4.  The Miami DDA is authorized to make transfers between the detailed accounts comprising any of the amounts appropriated in Section 2 above so that any available and required balance in such accounts may be used for other necessary and proper purposes.

Section 5.  Subject to Chapter 18 of the City Code, the Miami DDA is further authorized1 to solicit bids for the purposes of procuring any materials, supplies, equipment, and services embraced in the amounts appropriated in Section 2 above for which formal bidding is required with such bids being returnable as required by law.

Section 6.  This Resolution shall be deemed supplemental and in addition to the Resolution making appropriations for the operations of the City for the FY commencing October 1, 2026, and ending September 30, 2027.

Section 7. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.