File #: 17-682    Version: 1 Name:
Type: Resolution Status: Passed
File created: 8/9/2017 In control: City Commission
On agenda: 9/7/2017 Final action: 9/7/2017
Title: RESOLUTION NO. 58-17 TENTATIVE MILLAGE LEVY/DDA
Sponsors: Finance Department
Attachments: 1. Res 58-17 Tentative Tax Levy DDA FY 2018, 2. DDA 2017_18 Approved Budget for City Commission 9.7.17 (002), 3. Topline FY 17-18 Initiative Memo, 4. Delray Beach DDA FY17-18 Millage Approval Memo 9.7.17, 5. Prioritizing Initiatives DDA V2 SUMMARY 170602 (3)

TO:                                          Mayor and Commissioners

FROM:                     Laura Simon, Executive Director, Downtown Development Authority

THROUGH:                     Chief Neal de Jesus, Interim City Manager

DATE:                     September 7, 2017

 

Title

RESOLUTION NO. 58-17 TENTATIVE MILLAGE LEVY/DDA

 

Body

Recommended Action:

Recommendation

Motion to Approve Resolution No. 58-17 Tentative DDA Millage Rate for FY 2018.

 

Body

Background:

Resolution No. 58-17 tentatively levies a tax in the amount of 1.0000 mil on all properties within the Downtown Development Authority Taxing District of the City of Delray Beach for FY 2018.

 

The proposed millage rate of 1.0000 for the DDA is the same as FY 2017 and is greater than the rolled back rate (0.8968) by 11.51%. The assessed valuation on all taxable property for operating purposes within the Downtown Development Authority Taxing District of the City of Delray Beach is $983,771,941.

 

A copy of the DDA budget for 2018 is attached.

 

Final adoption of the DDA tax levy for FY 2018 is scheduled for September 19, 2017.

 

City Attorney Review:

Approved as to form and legal sufficiency.

 

Finance Department Review:

Finance recommends approval.

 

Funding Source:

Not applicable.

 

Timing of Request:

Final adoption will be on September 19, 2017.