CRA-1. - Adopt 4th Fy2025 Nbcra Budget
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A RESOLUTION OF THE CHAIRPERSON AND BOARD OF DIRECTORS OF THE NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY, ADOPTING THE FOURTH AMENDMENT TO THE FISCAL YEAR 2025 OPERATING BUDGET FOR THE NORTH BEACH COMMUNITY REDEVELOPMENT AREA. JOINT CITY COMMISSION AND NBCRA
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Cached: 5 days agoNorth Beach Community Redevelopment Agency (NBCRA) 1
CRA-1. A RESOLUTION OF THE CHAIRPERSON AND BOARD OF DIRECTORS OF THE NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY, ADOPTING THE FOURTH AMENDMENT TO THE FISCAL YEAR 2025 OPERATING BUDGET FOR THE NORTH BEACH COMMUNITY REDEVELOPMENT AREA. JOINT CITY COMMISSION AND NBCRA Applicable Area:
NBCRA MEMORANDUM
RECOMMENDATION
The Administration recommends that the Board of Directors adopt the attached Resolution.
BACKGROUND/HISTORY
In accordance with Section 189.016, Florida Statutes, the governing body of the North Beach Community Redevelopment Agency, operating as a special district, is required to adopt a budget by resolution each fiscal year and may amend the budget at any time but not later than within 60 days following the end of the fiscal year.
The operating budget for the North Beach Community Redevelopment Area for Fiscal Year (FY) 2025 was adopted by the Chairperson and Board of Directors of the North Beach Community Redevelopment Agency on September 25, 2024, through Resolution No. 021-2024, and also adopted by the Mayor and City Commission of the City of Miami Beach on September 25, 2024, through Resolution No. 2024-33298.
The First Amendment to the operating budget for the North Beach Community Redevelopment Area for FY 2025 was adopted by the Chairperson and Board of Directors of the North Beach Community Redevelopment Agency on November 20, 2024, through Resolution No. 023-2024, and also adopted by the Mayor and City Commission of the City of Miami Beach on November 20, 2024, through Resolution No. 2024-33397.
The Second Amendment to the operating budget for the North Beach Community Redevelopment Area for FY 2025 was adopted by the Chairperson and Board of Directors of the North Beach Community Redevelopment Agency on May 21, 2025, through Resolution No. 029-2025, and also adopted by the Mayor and City Commission of the City of Miami Beach on May 21, 2025, through Resolution No. 2025-33684.
The Third Amendment to the operating budget for the North Beach Community Redevelopment Area for FY 2025 was adopted by the Chairperson and Board of Directors of the North Beach Community Redevelopment Agency on September 3, 2025, through Resolution No. 037-2025, and also adopted by the Mayor and City Commission of the City of Miami Beach on September 3, 2025, through Resolution No. 2025-33888.
ANALYSIS
North Beach CRA Revenues
Revenues for the North Beach Community Redevelopment Area are mainly comprised of City of Miami Beach (City) and Miami-Dade County (County) Tax Increment funds.
North Beach CRA Expenditures
Expenditures for the North Beach Community Redevelopment Area include project-related expenditures that are allocated for community policing initiatives, enhanced levels of Code Compliance staffing and services, and additional cleanliness and beautification.
Also included are expenditures for a Commercial Façade Improvement Program to improve area aesthetics and promote business attraction and retention, a Residential Property Improvement Program to promote the maintenance of naturally occurring affordable housing stock and resiliency, Arts and Culture related tourism and branding, and small business development.
Other expenditures include administrative expenditures, County and City administrative fees, a set-aside for workforce and affordable housing, and a set-aside for future projects.
NORTH BEACH CRA OPERATING BUDGET AMENDMENT
The preliminary FY 2025 year-end analysis based on the proposed realignment of funding between the various projects and programs that are budgeted in the North Beach Community Redevelopment Area reflects that revenues for the North Beach Community Redevelopment Area total $3,527,000 while expenditures total $573,000 resulting in a preliminary surplus of $2,954,000 for FY 2025.
NORTH BEACH CRA
FY 2025 Adopted Budget
FY 2025 Amended Budget
Revenues
| Tax Increment Funds - City | 1,396,000 | 1,396,000 |
|---|---|---|
| Tax Increment Funds - County | 1,090,000 | 1,090,000 |
| 20,000 | 20,000 | Miscellaneous Revenues |
| Fund Balance/Retained Earnings/PY Surplus | - | 875,000 |
| Total Revenues | 2,506,000 | 3,381,000 |
Expenditures
| Admin/Operating Expenditures | 129,000 | 129,000 |
|---|---|---|
| Project Expenditures | 1,049,000 | 1,049,000 |
| Reserves, Debt Service, and Other Obligations | 1,328,000 | 2,203,000 |
| 2,506,000 | 3,381,000 | Total Expenditures |
| Revenues Over/(Under) Expenditures | - | - |
Pursuant to Section 163.387, Florida Statutes, on the last day of the fiscal year of the community redevelopment agency, any money which remains in the trust fund after the payment of expenses may be appropriated to a specific redevelopment project pursuant to an approved community redevelopment plan.
The Administration is recommending that the preliminary surplus of $2,954,000, which is comprised of $2,808,000 of unspent appropriations in the FY 2025 North Beach Community Redevelopment Area operating budget and $146,000 in additional interest income that was accrued in FY 2025, be carried forward into the FY 2026 North Beach Community Redevelopment Area operating budget for projects within the North Beach Community Redevelopment Agency Redevelopment Plan that were budgeted in FY 2025 that have not been completed and are still ongoing.
Preliminary Actuals as of 09/30/2025 % Actual of Amended Budget FY 2025 Year End Projection Over/(Under) % Over/(Under) Amended Amended Budget Budget
| 1,396,436 | 100.0% | 1,396,000 | - | 0.0% |
|---|---|---|---|---|
| 1,090,237 | 100.0% | 1,090,000 | - | 0.0% |
| 165,863 | 829.3% | 166,000 | 146,000 | 730.0% |
| - | 0.0% | 875,000 | - | 0.0% |
| 2,652,536 | 78.5% | 3,527,000 | 146,000 | 4.3% |
| -39.5% | 76,027 | 58.9% | 78,000 | (51,000) |
| 493,324 | 47.0% | 495,000 | (554,000) | -52.8% |
| - | 0.0% | - | (2,203,000) | -100.0% |
| 569,351 | 16.8% | 573,000 | (2,808,000) | -83.1% |
2,954,000 2,954,000 2,083,186
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 Board of Directors of the North Beach Community Redevelopment Agency adopt the Fourth Amendment to the North Beach Community Redevelopment Area operating budget for FY 2025 as described herein and further detailed in the attached Exhibit “A.”
EC/JDG/TOS/RA
Applicable Area
North Beach
Is this a “Residents Right to Know” item, pursuant to City Code Section 2-17?
Is this item related to a G.O. Bond Project?
Yes
No
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
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Co-sponsor(s)
Condensed Title
EXHIBIT A
Joint, Adopt 4th Amendment to NBCRA Operating Budget for FY 2025. OMB
North Beach Community Redevelopment Agency North Beach Community Redevelopment Area Operating Budget