CRA-2. - Adopt 1st Fy2026 Nbcra Budget

North Beach Community Redevelopment Agency (NBCRA) 2

CRA-2. A ​ RESOLUTION OF THE CHAIRPERSON AND BOARD OF DIRECTORS OF THE NORTH BEACH COMMUNITY REDEVELOPMENT AGENCY, ADOPTING THE FIRST AMENDMENT TO THE FISCAL YEAR 2026 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) 2026 was adopted by the Chairperson and Board of Directors of the North Beach Community Redevelopment Agency on September 30, 2025, through Resolution No. 038-2025, and also adopted by the Mayor and City Commission of the City of Miami Beach on September 30, 2025, through Resolution No. 2025-33949.

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

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.

Based on the preliminary FY 2025 year-end analysis for the North Beach Community Redevelopment Area operating budget, it is recommended that $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 and appropriated in the FY 2026 North Beach Community Redevelopment Area operating budget for projects within the North Beach Community Redevelopment Agency Redevelopment Plan that were originally budgeted in FY 2025 that have not been completed and are still ongoing.

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 First Amendment to the North Beach Community Redevelopment Area operating budget for FY 2026 as described herein and further detailed in the attached Exhibit “A.”

EC/JDG/TOS/RA

Applicable Area

North Beach

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 1st Amendment to NBCRA Operating Budget for FY 2026