Elected Official Item 18847 1 appearance active

A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), REALLOCATING FUNDS, IN THE TOTAL AMOUNT OF FOUR MILLION, FIVE HUNDRED FIFTY THOUSAND AND 00/100 DOLLARS ($4,550,000.00) (“FUNDS”) FROM CERTAIN PROJECT(S) IN THE CITY OF MIAMI’S (“CITY”) FISCAL YEAR 2025-26 MULTI-YEAR CAPITAL PLAN ADOPTED ON SEPTEMBER 25, 2025 PURSUANT TO RESOLUTION NO. R-25-0412 ("CAPITAL PLAN”), AND RE-APPROPRIATING SAID FUNDS TO CURRENT AND/OR FUTURE CAPITAL PROJECTS, ALL AS SET FORTH IN EXHIBIT “A,” ATTACHED AND INCORPORATED; THE USE, ALLOCATION, AND APPROPRIATION OF FUNDS IDENTIFIED HEREIN, ARE SUBJECT TO ALL FEDERAL, STATE, AND LOCAL LAWS THAT REGULATE THE USE OF SUCH FUNDS AND THE RECEIPT OF ALL NECESSARY APPROVALS, INCLUDING, BUT NOT LIMITED TO THE CITY ATTORNEY AND BOND COUNSEL APPROVAL; FURTHER APPROVING THE CITY MANAGER TO MAKE ANY CHANGES TO ADJUST, AMEND, AND APPROPRIATE THE CITY’S OPERATING BUDGET, FIVE-YEAR FINANCIAL PLAN, STRATEGIC PLAN, MULTI-YEAR CAPITAL PLAN, AND ANY OTHER DOCUMENTS AS NECESSARY AND APPLICABLE, PURSUANT TO THE PROVISIONS OF THIS RESOLUTION; RATIFYING, APPROVING, AND CONFIRMING CERTAIN NECESSARY ACTIONS BY THE CITY MANAGER AND DESIGNATED CITY DEPARTMENTS IN ORDER TO UPDATE THE CAPITAL PLAN, RELEVANT FINANCIAL CONTROLS AND COMPUTER SYSTEMS IN CONNECTION THEREWITH, FOR PROJECT CLOSE-OUTS, AND FOR GRANTS AND OTHER FUNDING SOURCES IN PROGRESS IN CONNECTION HEREWITH; PROVIDING FOR AN EFFECTIVE DATE.

Miami, FL February 12, 2026 - February 12, 2026

Summary

This resolution reallocates $4,550,000.00 from the Fiscal Year 2025-26 Multi-Year Capital Plan. The funds are being moved from "Project X - Ruben Dario Park - Construction Design/Documents" and re-appropriated to four other park projects: Ruben Dario Park, Riverside Park, Jose Marti Park, and Triangle Park. All projects are funded through the Miami Forever Bond - Series 2024C. The City Manager is authorized to make necessary adjustments to various city financial and strategic documents to reflect these changes. The resolution also ratifies actions already taken by city staff to update the capital plan and financial systems.

Citizen Impact

This reallocation shifts funding within the Parks & Recreation budget, specifically from the design phase of one park project to the construction/development of four other parks. Residents can expect continued progress on multiple park improvements funded by the Miami Forever Bond.

Confidence

high