RDA-1. - Adopt Mbra Capital Budget

Redevelopment Agency Items (RDA) 1

RDA-1. A RESOLUTION OF THE CHAIRPERSON AND MEMBERS OF THE BOARD OF THE MIAMI BEACH REDEVELOPMENT AGENCY ADOPTING AND APPROPRIATING THE MIAMI BEACH REDEVELOPMENT AGENCY CAPITAL BUDGET FOR FISCAL YEAR 2026 AND ADOPTING THE CAPITAL IMPROVEMENT PLAN FOR FISCAL YEARS 2026 - 2030. Applicable Area:

RDA MEMORANDUM

RECOMMENDATION

The Administration recommends that the Chairperson and members of the Miami Beach Redevelopment Agency adopt the attached resolution which adopts the final Capital Budget for the Miami Beach Redevelopment Agency (RDA) for Fiscal Year (FY) 2026 and the Capital Improvement Plan for Fiscal Years 2026 - 2030.

BACKGROUND/HISTORY

The Capital Improvement Plan (CIP) is an official statement of public policy regarding the City’s long-range physical development, which specifies and describes the capital project schedules and priorities for the five (5) years immediately following its adoption. The first year of the plan provides the funding to be appropriated in the annual Capital Budget.

The RDA CIP process begins in the winter when all departments are asked to prepare capital improvement updates and requests on the department’s ongoing and proposed capital projects. Individual departments prepare submittals identifying potential funding sources and requesting commitment of funds for their respective projects. The proposed document is then reviewed by the City Manager/RDA Executive Director, and upon approval, is submitted to the Finance and Economic Resiliency Committee (FERC) for review and, subsequently, to the City Commission and RDA Board for final approval and adoption.

The Administration is presenting the final FY 2026 RDA Capital Budget and CIP for FY 2026 - 2030 following a comprehensive review of the CIP to ensure that the plan accurately reflects all project budgets, funding sources and commitments, for adoption by the Chairperson and Board Members of the Miami Beach Redevelopment Agency.

ANALYSIS

The FY 2026 - 2030 CIP for the RDA is a five-year plan for public improvements and capital expenditures. The CIP has been updated to include additional funding sources that have become available, changes in project timing, and other adjustments to ongoing projects as they have become better defined. 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 cash impact and are as a result of a comprehensive review of the program to ensure that our plan accurately reflects all project budgets, funding sources, and commitments.

Capital funding priorities were discussed at the FERC Budget Briefings held on June 13, 2025 and July 11, 2025, and at the first public hearing held on September 17, 2025. The City Manager/RDA Executive Director, Assistant City Managers, the Office of Capital Improvement Projects Director, other department directors and City staff were available to discuss specific projects and respond to the Committee's questions.

During the FERC Budget Briefings, staff presented the preliminary list of unfunded projects, which were being requested, including projects that the Administration proposed for funding subject to the availability of funds. A summary of projects recommended for funding in the FY 2026 RDA Capital Budget, based on direction given by the FERC, is presented below (sorted by funding source).

FUNDING RECOMMENDATIONS

Attachment A, provided for your review, includes an overview of available funding by source, as well as funding requests for new and existing projects. The capital improvement plan detailed in Attachment A includes the City’s known capital needs for the next five years.

RDA City Center Renewal & Replacement (Fund 164) • City Hall Restroom Renovations (split-funded/partial funding) - $360,627

RDA Bond Series 2015A (Fund 309) • Convention Center Renovation Punch List Items - $500,000 • Convention Center Roof Replacement - $504,788

RDA City Center Capital (Fund 365) • Collins Canal Enhancement Project - $1,022,374

RDA Anchor Garage (Fund 463) • 16 th Street Garage Waterproofing Traffic Coat Sealer - $500,000

RDA Penn Garage (Fund 467) via transfer from RDA Anchor Garage (Fund 463) • Pennsylvania Garage-Fire Sprinkler Renewal - $900,000

RDA Collins Park Garage (Fund 468) • Collins Park Garage Deck Waterproof Coating - $500,000

FISCAL IMPACT STATEMENT

See information provided above.

Does this Ordinance require a Business Impact Estimate? (FOR ORDINANCES ONLY)

If applicable, the Business Impact Estimate (BIE) was published on: See BIE at: https://www.miamibeachfl.gov/city-hall/city-clerk/meeting-notices/

FINANCIAL INFORMATION

See information provided above.

CONCLUSION

The Administration recommends that the Chairperson and members of the Miami Beach Redevelopment Agency adopt the final Capital Budget for the RDA for FY 2026 and adopt the Capital Improvement Plan for FY 2026 - 2030.

Attachment A – FY 2026 - 2030 RDA Capital Improvement Plan

EC/JDG/TOS

Applicable Area

Citywide

Was this Agenda Item initially requested by a lobbyist which, as defined in Code Sec. 2-481, includes a principal engaged in lobbying? No

If so, specify the name of lobbyist(s) and principal(s):

Department

Management and Budget

Sponsor(s)

Co-sponsor(s)

Condensed Title

Adopt FY 2026-2030 RDA Capital Improvement Plan/FY 2026 RDA Capital Budget

Previous Action (For City Clerk Use Only)