Sep 15, 2026 City Commission First Budget Hearing

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GOOD AFTERNOON. GOOD AFTERNOON. PLEASE TAKE A SEAT. WE SHOULD HAVE ENOUGH CHAIRS FOR EVERYONE.

[CALL TO ORDER ]

[1. 26-2032 Presentation of Proposed Fiscal Year 2026-2027 City Budget.]

MADAM DIRECTOR, THE FLOOR IS YOURS. THANK YOU. THANK YOU. GOOD AFTERNOON. PAULA RODRIGUEZ, DEPUTY FINANCE DIRECTOR. SO FIRST OF ALL, I'D LIKE TO TAKE A MOMENT TO THANK THE COMMISSION AND OUR CITY ADMINISTRATION, PARTICULARLY OUR CITY MANAGER, PETER IGLESIAS, WHO IS SO SUPPORTIVE OF STAFF AND REALLY IS PIVOTAL IN THE PLANNING OF OUR BUDGET AND OUR STRATEGIC PLANNING EACH YEAR, AS WELL AS OUR ASSISTANT CITY MANAGER, CAROLINA VESTER, AND OUR DEPUTY CITY MANAGER, JOE GOMEZ. I'D LIKE TO RECOGNIZE MY STAFF, PARTICULARLY PEDRO SANCHEZ AND CHRIS GARCIA, WHO ARE THE ANALYSTS WHO REALLY DO THE HEAVY LIFTING THAT THAT MAKE THIS HAPPEN AS WELL OF ALL, AS WELL AS ALL OF OUR DEPARTMENT DIRECTORS AND THEIR SUPPORT STAFF WHO WORK COLLABORATIVELY WITH THE BUDGET DEPARTMENT ALL YEAR LONG TO TO PLAN AND TO MAKE SURE THAT WE ARE BEING AS FISCALLY PRUDENT AS POSSIBLE AND REALLY PRIORITIZING WHAT'S BEST FOR THE CITY AND THE RESIDENTS. AND IF YOU'LL JUST GIVE ME A MOMENT, I'D ALSO LIKE TO RECOGNIZE A MEMBER OF OUR FINANCE TEAM WHO PASSED LAST WEEK, YVETTE DIAZ. SHE SERVED THE CITY FOR 22 YEARS. HER FAMILY TODAY IS CELEBRATING HER LIFE. AND SO I THOUGHT IT APPROPRIATE FOR US TO RECOGNIZE HER IN THIS TIME. SHE REALLY WAS AN AMAZING FRIEND AND AN AMAZING COWORKER, AMAZING MOTHER AND AND DAUGHTER. AND I TAKE COMFORT AND I HOPE THAT HER FAMILY TAKES COMFORT IN KNOWING THAT SHE'S WITH HER HEAVENLY FATHER. SHE HAD A DEEP FAITH. AND, AND I KNOW THAT SHE IS WITH HER FATHER NOW. SO I JUST WANT TO TAKE A MOMENT THAT WE RECOGNIZE THAT BECAUSE, YOU KNOW, MANY OF US SERVE THE CITY FOR MANY YEARS OF OUR LIFE. AND AND I WOULD HOPE THAT WHEN YOU GO THAT WE WOULD CONTINUE TO REMEMBER THE PEOPLE WHO SERVE THIS CITY AND WHO PLAYED A PART IN OUR LIFE. SO YVETTE DIAZ WAS WITH US FOR 22 YEARS. MISTER MANAGER, WOULD YOU PLEASE HONOR US WITH BY HONORING HER AND THE NEXT COMMISSION MEETING, PLEASE? YES, MA'AM. THANK YOU, THANK YOU. AND SO WITH THAT. I PRESENT TO YOU THE FIRST BUDGET HEARING FOR FOR FISCAL YEAR 2020 627 BUDGET. AND SO MUCH OF THIS INFORMATION YOU HAVE SEEN ALREADY. SO I'LL JUST GO THROUGH THE SLIDES THAT WE HAVE SEEN THE INFORMATION QUICKLY, AND WE'LL PAUSE AND DISCUSS ANY ITEMS THAT YOU LIKE TO DISCUSS ALONG THE WAY. AM I PRESENTING? KGTV? DO YOU SEE MY NEXT SLIDE? OKAY. THANK YOU. AND SO THIS IS THE TIMELINE OF OUR BUDGET PREPARATION. ALL OF THESE DATES ARE GENERALLY THE SAME EACH YEAR. WE START EARLY IN FEBRUARY AND IN MAY WE START BEGINNING. WE BEGIN DISCUSSING WITH THE CITY COMMISSION. WE START HAVING INDIVIDUAL BRIEFINGS TO DISCUSS PRIMARILY OUR CAPITAL PLAN. WE COME TO YOU IN JULY, I'M SORRY, IN JUNE WITH THE AVAILABLE FUNDING, AFTER WE'VE STARTED BALANCING OUR OPERATING BUDGET, AND THE COMMISSION WORKS WITH US TO PRIORITIZE CAPITAL FUNDING. AND THEN THROUGHOUT JULY, WE I'M SORRY, THROUGHOUT JUNE, WE FINALIZE A JULY 1ST BUDGET ESTIMATE AND BRING IT TO YOU THIS YEAR. WE BROUGHT IT TO YOU ON JULY 8TH, AT WHICH TIME WE SENT THE PROPOSED MILLAGE RATE OF 5.559. THROUGHOUT THE SUMMER, WE UPDATE REVENUES AND ANY NEW EXPENDITURES OR INCREASE OF EXPENDITURES THAT THAT HAVE CHANGED FROM JULY 1ST TO NOW. AND SO WHAT WE WILL BE PRESENTING TO YOU TODAY, ON SEPTEMBER 15TH ARE ANY CHANGES TO THE BUDGET FROM JULY 1ST. AND TODAY WE WILL WE WILL ADOPT ON FIRST HEARING OUR TENTATIVE MILLAGE AND THE. AND ADOPT OUR ON FIRST HEARING OUR ANNUAL BUDGET FOR NEXT FISCAL YEAR. SO THE SLIDE BEFORE YOU. SHOWS ANY CHANGES FROM JULY 1ST, FROM THE

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THAT ESTIMATE INCREASED OUR REVENUE BY $129,000. STATE REVENUES. ALL ESTIMATES ALSO CAME IN. AND YOU CAN SEE HERE THAT THOSE REVENUE ESTIMATES ACTUALLY DECREASED FROM OUR BUDGET ESTIMATE IN JULY 1ST. AND SO COMMUNITY SERVICE TAXES ESTIMATED TO DECREASE $55,000 FROM LAST FISCAL YEAR, FROM THIS CURRENT FISCAL YEAR, HALF CENT SALES TAX ESTIMATED TO DECREASE BY ABOUT $234,000. REVENUE SHARING FROM THE DEPARTMENT OF REVENUE ALSO A SLIGHT DECREASE OF $36,000. HALF CENT SURTAX FROM CITY, WHICH FUNDS OUR TROLLEY AND OUR TROLLEY SERVICE, PRIMARILY REDUCED BY 69 ALMOST $70,000. STATE APPROPRIATIONS FOR CAPITAL PROJECTS. THOSE THAT THE APPROPRIATIONS THAT WERE PRESENTED TO YOU EARLIER TODAY AND OUR LEGISLATIVE UPDATE, WE WERE AWARDED ABOUT ONE POINT, JUST UNDER $1.6 MILLION IN PROJECTS. AND SO WE INCREASED OUR REVENUE BY THAT SAME AMOUNT. LAST MEETING, THE COMMISSION APPROVED SANITARY SEWER RATE INCREASES TO OFFSET THE INCREASED COST PASS THROUGH FROM MIAMI-DADE COUNTY. AND SO WE INCREASED OUR REVENUE BY JUST OVER $1.2 MILLION. FOR THAT, WE REVISITED OUR PARKING REVENUE ESTIMATES, AND WE WERE ABLE TO INCREASE OUR ESTIMATE FOR NEXT FISCAL YEAR BY ABOUT $384,000. CHANGES IN EXPENDITURES ALSO REQUIRED US TO TRANSFER IN ADDITIONAL FUNDS FROM RESERVES. SO WE TRANSFER. WE'RE TRANSFERRING IN AN ADDITIONAL $8,400 FROM THE BUILDING DIVISION. RESTRICTED RESERVES. WE'RE TRANSFERRING IN AN ADDITIONAL $690,000 FROM THE PARK IMPACT FEES. SO WE COME FROM SINCE OUR ESTIMATES IN JULY 1ST, WE WERE ABLE TO REALIZE ADDITIONAL COLLECTIONS OF PARK IMPACT FEES FOR THE PURCHASE OF LAND. AND SO WE'VE GONE AHEAD AND RECOGNIZED THAT ADDITIONAL REVENUE. AND YOU'LL SEE IN THE EXPENDITURES THAT WE ALSO RECOGNIZE THAT IN THE CAPITAL PROJECT, WE'RE INCREASING THE TRANSFER FROM STORMWATER UTILITY FUND BY $700,422. THAT'S PRIMARILY TO FUND THE MATCHING FUNDS FOR THE APPROPRIATION THAT WE RECEIVED, AND THAT THAT'LL BE IN THE EXPENDITURES BELOW. AND WE ARE ALSO INCREASING THE TRANSFER FROM FUND BALANCE FROM THE SANITARY SEWER FUND BY JUST OVER $500,000. SIMILARLY, TO FUND THE OFFSETTING MATCH OF THE STATE APPROPRIATIONS. SO THAT BRINGS OUR TOTAL OUR TOTAL CHANGE IN REVENUES FROM JULY 1ST TO JUST OVER $4.8 MILLION, FOR A TOTAL REVENUE ESTIMATE OF $323,309,230. AS YOU KNOW, WE HAVE TO HAVE A BALANCED BUDGET, AND SO OUR EXPENDITURES ALSO INCREASE BY THE SAME AMOUNT.

OUR EXPENDITURES ON JULY 1ST WERE $318,445,014. AND THEN CHANGES TO EXPENDITURES ARE LISTED HERE. AND SO TOTAL CHANGES TO CAPITAL WAS THREE POINT JUST UNDER $3.4 MILLION.

YOU CAN SEE HERE THAT WE INCREASED THE PURCHASE OF LAND OF PARKLAND PROJECT BY 690 000, WHICH IS THE IMPACT FEES THAT WE RECOGNIZE IN THE REVENUE. WE INCREASED THE GRAVITY SANITARY SEWER PIPE REHABILITATION PROJECT FROM THE STATE APPROPRIATION FUNDING. WE INCREASED THE PONCE CORRIDOR WATERWAY FLOODING MITIGATION, WHICH IS THE DREDGING PROJECT, ALSO PART OF THE STATE APPROPRIATIONS AND THE ENVIRONMENTAL REMEDIATION AT 72ND AVENUE. INCREASES TO OPERATING COSTS INCLUDE INCREASES TO SALARY AND BUDGET.

I'M SORRY. SALARY AND BENEFITS OF JUST OVER 447 000. THAT IS PRIMARILY FOR THE INCREASED COST OF HEALTH INSURANCE. IN OUR JULY 1ST ESTIMATE, WE HAD ABOUT 23% INCREASE IN HEALTH INSURANCE. THE FINAL NUMBER CAME IN AT 25%. WE WERE ABLE TO OFFSET THAT COST IN THIS FISCAL YEAR WITH THE SAVINGS THAT WE GOT FOR GENERAL LIABILITY WITH OUR PROPERTY INSURANCE THAT, YOU'LL RECALL, CAME IN ABOUT $300,000 LESS. SO IF NOT FOR THAT, THIS 400,000 WOULD BE

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THAT'S DUE TO THE. SO AT THE END OF THE YEAR, IF THE CLERK'S OFFICE HAS MORE REVENUE THAN EXPENDITURES, WE WOULD TRANSFER TO THEIR RESERVE. IN THIS CASE, WE HAVE A SMALL TRANSFER STILL, BUT WE HAD TO REDUCE THAT BECAUSE THE COST OF HEALTH INSURANCE WAS PASSED ON TO THE CITY CLERK'S OFFICE AS WELL. TRANSFER TO FUND. SORRY, YOU'RE NOT EXEMPT FROM HEALTH INSURANCE. TRANSFER TO FUND BALANCE FOR SANITARY SEWER. THE SAME IS TRUE HERE. SO THE INCREASE IN COST REDUCED THE TRANSFER TO THEIR FUND BALANCE AT THE END OF THE FISCAL YEAR, OR THE PROJECTED TRANSFER FOR A TOTAL CHANGE OF $4.8 MILLION, FOR A TOTAL REVISED EXPENDITURE OF 323,309,000 AND $230. SO THOSE ARE THE CHANGES FROM JULY 1ST. THE NEXT SLIDE IS A REVISED BUDGET SUMMARY. SO SIMILAR TO WHAT YOU SAW IN JULY 8TH AT OUR COMMISSION MEETING.

AND SO THIS IS OUR REVISED BUDGET AFTER THOSE CHANGES. AND SO OPERATING REVENUE IS NOW 302 MILLION, JUST OVER 302 MILLION TRANSFERS FROM RESERVE HAVE GONE TO $21,156,122, FOR TOTAL REVENUES OF 323,309, $230. EXPENDITURE. REVENUE. BUDGET. I'M SORRY. EXPENDITURES.

OPERATING EXPENDITURES ARE $254,082,086. CAPITAL EXPENDITURES IS $54,456,774.

AND OUR DEBT SERVICE REMAINS AT $10,564,436, FOR TOTAL OPERATING EXPENDITURES OF 319,100. AND, I'M SORRY, $319,103,296. AND OUR TRANSFERS TO RESERVES INCLUDE A TRANSFER TO THE CLERKS REVENUE, WHICH IS NOW $5,934, AND OUR TRANSFER TO RESERVE FOR THE PARKING FUND OF $4.2 MILLION. YOU'LL RECALL THAT THIS IS OUR DEBT SERVICE PLANNING FOR THE FUTURE MOBILITY HUB. FOR A TOTAL TRANSFERS TO RESERVE OF $4,205,934, FOR A TOTAL EXPENDITURE OF $323,309,230. SO WE ADDED THESE SLIDES THIS YEAR. THEY'RE PART OF OUR BUDGET BOOK EACH YEAR, BUT I THINK THAT IT'S A GOOD DEPICTION TO SHOW WHERE OUR WHERE OUR REVENUES COME FROM PRIMARILY. SO THESE ARE BROAD CATEGORIES, BUT I THINK IT'S A GOOD INDICATION OF WHERE OUR REVENUES COME FROM. SO YOU'LL SEE THAT THIS IS OUR TOTAL REVENUES, NOT INCLUDING ALLOCATIONS FROM OTHER FUNDS. SO PROPERTY TAXES ARE $146.5 MILLION. THEY'RE THEY REPRESENT 48.8% OF OUR TOTAL REVENUE, BUT THEY REPRESENT 63.5% OF OUR GENERAL FUND REVENUE. SO PROPERTY TAXES TYPICALLY FUND OUR GENERAL FUND, AND IT'S 63% OF THAT REVENUE USE CHARGES SUCH AS PARKS FEE, I'M SORRY, SUCH AS TIRES, THINGS OF THAT NATURE ARE ABOUT 17% OF OUR OPERATING REVENUE. OTHER TAXES, 9.5 LICENSES AND PERMITS, 6.6 OTHER IS 7%. INTERGOVERNMENTAL REVENUES, SUCH AS THE REVENUE WE RECEIVE FROM THE STATE OR GRANTS, IS ABOUT JUST UNDER 4%.

RECREATION FEES IS JUST UNDER 4%, AND INVESTMENT EARNINGS REPRESENT ABOUT 3% OF OUR OPERATING REVENUE. THE NEXT SLIDE IS EXPENDITURES BY FUNCTION. SO SIMILARLY, WE THOUGHT THAT THIS WAS A GOOD SLIDE THAT DEPICTS WHERE OUR EXPENSES ARE AND A BROAD CATEGORY. SO PUBLIC SAFETY REPRESENTS JUST OVER 35% OF OUR OPERATING BUDGET EXPENSE.

PHYSICAL ENVIRONMENT, WHICH INCLUDES PUBLIC WORKS PRIMARILY, IS ABOUT 19%. ECONOMIC

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AS I MENTIONED IN THE PRIOR SLIDE, WE BROUGHT AN ADDITIONAL IMPACT FEES, AND WE'RE ABLE TO FUND ADDITIONAL TO THAT PROJECT. THERE WERE NO CHANGES IN PUBLIC SAFETY OR IN TRANSPORTATION.

AND RIGHT OF WAY SINCE THE JULY 8TH MEETING. AND THEN ONCE AGAIN, THE TWO THAT ARE HIGHLIGHTED IN THIS SLIDE ARE THE TWO APPROPRIATIONS THAT WE RECEIVED FOR GRAVITY, GRAVITY, SANITARY SEWER PIPE REHABILITATION, AND THE PONCE CORRIDOR WATERWAY, WHICH IS THE DREDGING FOR A TOTAL CAPITAL IMPROVEMENT PLAN OF $58,534,760. SO NOW WE GET TO OUR DISCUSSION TODAY ON THE MILLAGE. AND SO THIS CHART YOU'RE ALL FAMILIAR WITH, THIS HAS BEEN UPDATED TO INCLUDE THE ADOPTED MILLAGES. AS FOR THE 2005 TAX YEAR, SO THE CURRENT ADOPTED MILLAGES FOR THE CURRENT FISCAL YEAR FOR EACH OF THE CITIES. THOSE COLUMNS THAT ARE HIGHLIGHTED IN BLUE ARE THE FULL SERVICE CITIES. AND YOU CAN SEE HERE THAT ACROSS THE COUNTY, WE REMAIN 10TH AS FAR AS MILLAGES ARE CONCERNED. THE NEXT SLIDE SHOWS A COMPARISON TO THE FULL SERVICE CITIES AND WHAT THE AVERAGE PROPERTY VALUE FOR THE CITY OF CORAL GABLES WOULD PAY BASED ON EACH OF THOSE MILLAGE RATES. AND SO IN CORAL GABLES, THE AVERAGE TAXABLE VALUE FOR

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THIS REFLECTS THEIR PROPOSED MILLAGE THIS YEAR, WHICH THEY SLIGHTLY REDUCED SO THAT MILLAGE OF 6.0753 FOR THE SAME PROPERTY WOULD PAY $564 LESS. I'M SORRY, MORE. AND IN HIALEAH THEY WOULD PAY $811 MORE, AND IN KEY BISCAYNE THEY WOULD PAY $2,787 LESS. THE INFORMATION ON THIS SLIDE HAS NOT CHANGED FROM THE INFORMATION PRESENTED IN JULY. THIS. THIS SLIDE PROVIDES FOR YOU A CHART THAT SHOWS THE CORAL GABLES PROPERTIES BY TYPE, AND WHAT PERCENTAGE EACH PROPERTY TYPE IS. SO HOMESTEADED RESIDENTIAL PROPERTIES REPRESENTS 50. JUST OVER 54% OF OUR TOTAL 20,049 PROPERTIES IN THE CITY. NON HOMESTEADED RESIDENTIAL REPRESENTS JUST UNDER 32% AT 31.8%. COMMERCIAL IS 8.7% AND ALL OTHERS ARE 5.4%. AND THIS IS THE PROPERTY TYPE AS DESIGNATED BY THE PROPERTY APPRAISER'S OFFICE. SIMILAR INFORMATION. BUT THIS DEPICTS THE PROPERTY TAX REVENUE BY PROPERTY TYPE. AND SO THE HOMESTEADED RESIDENTIAL PROPERTIES GENERATE ABOUT 70 JUST UNDER $72 MILLION OF OUR TOTAL $146 MILLION PROPERTY TAX REVENUE ESTIMATED FOR NEXT YEAR. NON HOMESTEADED RESIDENTIAL REPRESENTS $37.5 MILLION OF THAT SAME 146 COMMERCIAL PROPERTY TAX REVENUE REPRESENTS $25.5 MILLION, AND ALL OTHERS REPRESENT $11.8 MILLION. THIS IS THE SAME INFORMATION, BUT IN A PIE CHART, JUST BECAUSE SOMETIMES THE DISPLAY IS A LITTLE BIT MORE IMPACTFUL, YOU CAN SEE HOW OUR HOMESTEADED RESIDENTIAL PROPERTY TAX REVENUE REALLY IS WHAT FUELS THE CITY. ALL ALL ELSE REPRESENTS ABOUT 50%. ALTHOUGH THE CONVERSATION THAT WE HAVE HAD IN THE PAST IS THAT ALTHOUGH CONDOMINIUMS ARE CONSIDERED PART OF OUR HOMESTEADED RESIDENTIAL PROPERTIES, THEY ARE PRIMARILY LOCATED WITHIN OUR COMMERCIAL DISTRICT. AND SO WHEN WE TALK ABOUT THIS CHART, WE TALK ABOUT HOW THIS IS HOW THE PROPERTY TAX APPRAISER REPRESENTS PROPERTIES. BUT REALLY, WHEN WE LOOK AT THOSE TYPES OF PROPERTIES IN OUR CITY, ■THE COMMERCIAL DISTRICT CONTRIBUTES TO THAT SAME 50% OF OF HOMESTEADED PROPERTIES. AND THIS IS THE FAVORITE CHART HERE AT THE DAIS. THIS REALLY DEPICTS WHERE OUR RESIDENTS PROPERTY TAX DOLLARS GOES. AND SO WHEN WE TALK ABOUT PROPERTY TAXES AND WE TALK ABOUT THE MILLAGE, WE TEND TO FOCUS ON THE CITY'S MILLAGE OF 5.559.

HOWEVER, OUR RESIDENTS PAY MORE THAN THAT. AND SO THAT 5.559 REPRESENTS JUST $0.31 PER DOLLAR, OR 31% OF WHAT OUR RESIDENTS PAY IN PROPERTY TAXES. THE REST OF IT GOES TO THE COUNTY, THE SCHOOL BOARD, AND REGIONAL TAXES. AND SO THE COUNTY RECEIVES $0.30 OR 30% OF OUR RESIDENTS PROPERTY TAX DOLLARS. REGIONAL RECEIVES JUST ABOUT JUST UNDER A PERCENT, 0.0 $0.02 PER DOLLAR. AND THE SCHOOL BOARD RECEIVES 37% OF OUR RESIDENTS PROPERTY TAX DOLLARS. AND SO THIS CHART IS ALWAYS A GREAT DEPICTION TO SHOW WHERE THE MONEY GOES. OUR ANNUAL PENSION CONTRIBUTION. AND SO THE GOOD NEWS IS, IS THAT WE'VE CONTINUED TO INCREASE OUR OUR CONTRIBUTION TO THE 401 PAYMENTS. SO WE CREATED THE 401 PROGRAM MANY YEARS AGO TO ENCOURAGE EMPLOYEES TO HAVE OPTIONS IN WHERE THEY COULD INVEST THEIR

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SO WE HAVE TO BE VERY, VERY CAREFUL. ANY WAY YOU SKIN THE CAT, THE NUMBERS DON'T LIE.

THEIR FACTS ARE HERE. SO WHEN YOU HEAR PROMISES ABOUT MORE COLAS AND MORE COLAS, WE HAVE TO BE VERY CAREFUL BECAUSE IF THERE'S A DOWNTURN IN THE MARKET, WE COULD BE WIPED OUT.

SO MY GOAL IS TO PAY US OFF AS QUICKLY AS POSSIBLE SO THAT WE HAVE THE MONEY, THE NECESSARY MONEY IN THE COFFERS TO BE ABLE TO ADDRESS OTHER ISSUES. THANK YOU. THANK YOU, SIR. AND SO THE LAST SLIDE OF OUR PRESENTATION IS THE GENERAL FUND RESERVE ANALYSIS. AND SO YOU ALL KNOW THAT WE HAVE A 25% RESERVE REQUIREMENT. AND EACH YEAR AT THE END OF THE FISCAL YEAR, WE FUND THE DIFFERENCE TO INCREASE THE RESERVE TO THE 25%. AND SO AT THE END OF FISCAL YEAR 25, WE WOULD HAVE FUNDED THE FISCAL YEAR 26 REQUIREMENT TO $64,082,549. SO CAN YOU DO ME A FAVOR, MADAM DIRECTOR? YES, SIR. WHEN I STARTED HERE AT 2013, WHAT WAS THE AMOUNT THAT WE HAD IN THE RESERVES? SO IN 20 I CAN'T SEE THE I CAN'T SEE IN MY EYESIGHT DOESN'T LET ME SEE. I CAN BARELY SEE IT TOO. BUT I CAN LOOK AT 21,000,021.1 MILLION. SO THIS IS A THIS IS ANOTHER EXAMPLE OF. AND I MENTIONED IT EVERY SINGLE YEAR, AND I'LL KEEP MENTIONING IT UNTIL I'M NO LONGER PRIVILEGED ENOUGH TO SERVE YOU. OKAY. IT'S MUCH EASIER TO SPEND THE MONEY TO LOOK GOOD, SPEND, SPEND, SPEND, SPEND, SPEND AND GO OUT THERE AND TELL EVERYBODY, LOOK, LOOK WHAT I DID FOR YOU. LOOK AT THE SHINY LITTLE OBJECTS THAT I BOUGHT FOR YOU. INSTEAD OF PAYING DOWN YOUR PENSION. I COULD HAVE DONE THE SAME THING HERE. I WROTE THE LEGISLATION THAT REQUIRES 25% OF OUR OF OUR BUDGET TO BE IN RESTRICTED RESERVES. SO THAT MEANS THAT WE'VE GONE FROM 21 MILLION TO HOW MUCH? 65 MILLION? 65? YES, SIR. UNDER 65 MILLION. SO THE THING ABOUT IT, THAT'S $44 MILLION THAT OVER THOSE YEARS I COULD HAVE USED THAT MONEY ALONG WITH THE COMMISSION FOR PET PROJECTS, TO BE ABLE TO TELL THE VOTERS WHEN YOU'RE GREETING THEM AT THE POLLING PLACES, HEY, REMEMBER THAT PROJECT THAT I WAS ABLE THAT YOU NEEDED IN THE COMMUNITY? WE WERE ABLE TO CARE INSTEAD OF IT. WE SOCKED IT AWAY TO ENSURE THAT WE WERE FINANCIALLY PRUDENT AND THAT WE WERE PROTECTING THIS COMMUNITY. SO ANY WAY YOU WANT TO SKIN THE CAT, A LITTLE BELT TIGHTENING NOW OVER A 10 OR 15 YEAR PERIOD WILL PAY SIGNIFICANT DIVIDENDS IN THE FUTURE. WHAT DO I MEAN? WE GET TO 90% FUNDED IN OUR PENSIONS. WE COULD HAVE 27, 26, $25 MILLION A YEAR IN REOCCURRING REVENUE THAT WE DON'T HAVE. NOW, IN REGARDS TO THE RESTRICTED RESERVES, THIS IS THE MONEY, AND THIS IS WHY I WROTE THE REFERENDUM THAT WAS APPROVED BY THE RESIDENTS. OVERWHELMINGLY, THIS MONEY IS THERE WHEN WE HAD A HURRICANE. IT'S NOT ME TALKING. SOME PEOPLE ON THIS DIAS DON'T WANT TO BELIEVE IT, BUT WHEN WE HAD A HURRICANE, I'M GOING TO HAVE THE MANAGER EXPLAIN BECAUSE I WANT TO PUT IT ON THE RECORD AGAIN, BECAUSE I KNOW THE HERALD'S GOING TO COVER IT, BUT THE BLOGS AREN'T NOT. AND PEOPLE LIVE IN AN ALTERNATE FALSE REALITY. PEOPLE TALK ABOUT SPENDING RESERVES. MR. MANAGER, WHAT DID WE DO WITH OUR RESERVES EIGHT YEARS AGO? IF I'M CORRECT, WITH THE LAST HURRICANE THAT HAPPENED HERE WITH IRMA, BY THE WAY, THAT WAS A THAT WAS A CATEGORY ONE, CORRECT? ONE CATEGORY ONE TWO. IT WAS A CATEGORY ONE. IT WAS A TRUE EVENT. YEAH. YES, MA'AM. THIS THIS FUND WILL TAKE CARE OF TWO SMALL HURRICANES, ONE LARGE HURRICANE. AND SINCE WE HAD THE THE CASH TO OPERATE QUICKLY, THERE WAS ALWAYS A SHORTAGE OF VEHICLES, A SHORTAGE OF TRUCKS, EQUIPMENT. AND WE WERE ABLE TO CAPITALIZE ON THAT BECAUSE WE HAD THE FUNDS TO PAY QUICKLY. AND WE HAD QUITE A NUMBER OF, OF, OF, OF, OF THAT EQUIPMENT COME TO US BECAUSE OF THE FACT THAT WE DID NOT HAVE TO GO TO A BANK.

WE DID NOT, WE WERE ABLE TO PAY QUICKLY. AND INSTEAD OF WAITING FOR A TRUCKER, GETTING PAID IN 3 OR 4 MONTHS IS DIFFERENT THAN GETTING PAID EVERY MONTH. AND IT ALLOWS IT ALLOWED US TO GET ALL THE EQUIPMENT AND WE WERE ABLE TO GET THROUGH IN 40 DAYS, WHICH IS FASTER THAN JUST ABOUT ANYBODY ELSE. THANK YOU. ONE LAST QUESTION. I WANT TO HEAR FROM YOU BECAUSE YOU COUNT OUR PENNIES. OKAY. HAVE I EVER ASKED YOU FOR A PET PROJECT? NO, SIR. HAVE I EVER SAID I WANT TO DO THIS PET PROJECT? THIS IS MY PROJECT TO HELP THIS NEIGHBORHOOD OUT. BRING IT TO THE COMMISSION. I WANT TO THIS PROJECT. I'VE ALWAYS ALLOWED THE MANAGER TO BUILD THE BUDGET.

CORRECT? YES, SIR. OKAY. SECOND, HOW MANY YEARS DID IT TAKE FOR US TO GET REIMBURSED BY THE STATE OF FLORIDA IN REGARDS TO THE MONEY THAT WE USE FROM THE RESTRICTED RESERVES? WE STILL HAVE SOME SMALL AMOUNTS THAT WE'RE NEGOTIATING. I CAN'T HEAR YOU. WE STILL HAVE SOME SMALL

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AND PEOPLE AROUND ME WERE SAYING, HEY, LET'S, LET'S USE THE RESERVES. LET'S USE THE RESERVES. THAT'S WHY I WROTE THAT PIECE OF LEGISLATION THAT SAYS THAT YOU HAVE TO SPEAK TO THE RESIDENTS FIRST AND BRING IT THROUGH A REFERENDUM, UNLESS THE MANAGER DEEMS IT APPROPRIATE FOR AN EMERGENCY. WE HAVE TO BE FISCALLY PRUDENT. WE HAVE TO BE CAREFUL. WE CAN'T WE CAN'T LISTEN TO THE PEOPLE WHO ARE SCREAMING THE LOUDEST IN THE ROOM. IF NOT, WE BECOME LIKE EVERY OTHER CITY, AND I PROMISE YOU IT'S GOING TO BE A MAJOR ISSUES, MAJOR ISSUES. AND THANK GOD THAT WE DIDN'T LISTEN TO THOSE VOICES. MR. MANAGER, I JUST WANT TO ADD THAT EVEN DURING THE PANDEMIC, WE DID NOT USE THE RESERVE. AND ONE OF THE THINGS ABOUT THE DIP THAT YOU SEE IN THAT LINE IS THE RESERVE FOR HURRICANE IRMA. HOWEVER WE GET WE HAVE 95% REIMBURSEMENT BY FEMA. SO THAT'S A WHOLE DIFFERENT BALL GAME. AND SO SINCE THE REIMBURSEMENT WAS NOT COMING, WAS PROBABLY NOT COMING AND DID NOT FOR THE, FOR THE, FOR THE PANDEMIC, WE WENT THROUGH IT WITHOUT TOUCHING THE RESERVE AND MAINTAINING THAT RESERVE. SORRY. AND I REMEMBER WE HAD CONVERSATIONS WITH THE FINANCE DIRECTOR AND WE WERE, WHEN WE WERE COORDINATING THE AMOUNT OF MONEY THAT WE. THE PERCENTAGE THAT WE WERE GOING TO WRITE INTO LAW REQUIRING.

AND OUR STAFF WAS NERVOUS, SAYING 25% IS A LOT AMBITIOUS. AND AGAIN, IT'S GOING TO TAKE A LOT OF MONEY OUT OF THE SYSTEM THAT WE COULD USE FOR NEEDS. BUT I DON'T THINK THERE'S ANOTHER CITY IN MIAMI-DADE COUNTY THAT HAS RESTRICTED RESERVES LIKE WE DO, AND THAT'S WHY WE'RE ONE OF THREE CITIES IN THE STATE OF FLORIDA THAT I'M AWARE OF. I THINK KEY BISCAYNE MAY HAVE JOINED US. I'M NOT SURE. WE HAVE TO FIND OUT THAT HAVE A TRIPLE TRIPLE BOND RATING. AND THAT'S A SENSE OF PRIDE AS A CITY. AND ALL THE EMPLOYEES SHOULD TAKE PRIDE IN THAT. YOUR CITY IS FINANCIALLY PRUDENT, AND IT IS IN A POSITION TO SURVIVE ANY CATASTROPHE, AND THAT WE HAVE DONE THE NECESSARY THINGS TO ENSURE THAT YOUR RETIREMENT IS TAKEN CARE OF. I'M NOT GOING TO LEAVE THIS DAIS ONE DAY AND SAY, HEY, YOU KNOW WHAT? I DID WHAT I HAD TO DO TO GET REELECTED, BUT I PUT YOUR WHAT? I PUT YOUR RETIREMENT AT JEOPARDY! IN JEOPARDY. EXCUSE ME, MADAM DIRECTOR MAYOR, THAT IS THE END OF MY PRESENTATION. I WANT TO JUST THANK YOU ALL FOR YOUR GUIDANCE AND WORKING WITH CITY ADMINISTRATION AND THE CITY MANAGER, PARTICULARLY ON THE PREPARATION OF EACH BUDGET. I BELIEVE THAT IT STARTED BEFORE ME, AND I AM HONORED TO CONTINUE A LEGACY OF GOOD BUDGETING AND GOOD FISCAL STEWARDSHIP OF OUR CITY DOLLARS. THAT IS WHY WE PRESENT TO YOU THE BUDGET. MAINTAINING THE MILLAGE RATE AT 5.559 TODAY, WITH AS LITTLE OPERATING INCREASES AS POSSIBLE, WHILE STILL DELIVERING, I THINK, A SIGNIFICANT AMOUNT OF INFRASTRUCTURE IMPROVEMENTS AND QUALITY SERVICE TO OUR RESIDENTS. I HAVE FULL CONFIDENCE THAT IF WE CONTINUE IN THIS TRACK, THAT NEXT YEAR, REGARDLESS OF THE CHALLENGES THAT WE WILL HAVE, THAT WE WILL COME TOGETHER AND BE ABLE TO COORDINATE AND EQUALLY SATISFACTORY BUDGET WITHIN WHATEVER REVENUES WE HAVE AT THAT TIME. SO I REALLY BELIEVE THAT WE CAN WORK TOGETHER TO GET THERE. I BELIEVE THE MANAGER WANTS TO SAY SOMETHING, BUT THE NEXT STEP IS THE CITY ATTORNEY WILL READ INTO THE RECORD THE ORDINANCE TO ADOPT OUR MILLAGE ON FIRST READING, AND THEN FROM THERE, THE OPERATING BUDGET. BUT I BELIEVE BEFORE WE BEFORE WE DO THAT, WE OBVIOUSLY HAVE PUBLIC COMMENT. BUT I WANT TO HEAR FROM THE MANAGER. THANK YOU. MAYOR. WE STRONGLY RECOMMEND MAINTAINING THE MILLAGE RATE OF 5.559. NOT ONLY DO WE DO. WE HAVE THAT REFERENDUM THAT. FOR THE INCREASE IN HOMESTEAD EXEMPTION, BUT THAT ALSO LIMITS THE OTHER THE OTHER SIDE OF THE COIN, WHICH IS NON-HOMESTEAD PROPERTIES TO 5%, BY LIMITING THAT TO 5%, WE WILL WE WILL NOT HAVE ANY MORE OF THE 6.5 INCREASES THAT WE HAD THIS YEAR.

IT WOULD THAT WOULD BE VERY, VERY DIFFICULT. SO IF WE WERE TO HAVE THAT REFERENDUM THIS YEAR, NOT ONLY WOULD IT COST US AND WE RUN IT UP TO SIX, BUT IT'S ACTUALLY 5.7 MILLION. BUT WE'D HAVE AN ADDITIONAL $2 MILLION LOSS BECAUSE INSTEAD OF THE OTHER PROPERTIES COMING IN AT 8.2%, THEY WOULD BE CAPPED AT 5%. SO THAT MEANS A TOTAL LOSS OF AN ADDITIONAL 2 MILLION.

THERE WOULD BE $7.7 MILLION. AND SO NOW IS NOT THE TIME TO TO AS AS LEAN AS WE ARE NOW.

NOW IS THE TIME TO KEEP OUR MILLAGE AND MAKE SURE THAT WE CAN DEAL WITH THESE WITH THE UP AND COMING REFERENDUM AND, AND KEEP THE CITY SERVICES AND, AND, AND THE CITY FISCAL

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SO WE, WE, WE STRONGLY RECOMMEND THAT WE KEEP THE MILLAGE AT 5.559. THANK YOU,

[2. 26-2033 Public Hearing for obtaining comments relative to Budget for Fiscal Year 2026-2027.]

MEG. SILVANA. ORENGO. GOOD AFTERNOON. GOOD AFTERNOON TO THE COMMISSION TO THE MAYOR'S OFFICE. THE VICE MAYOR. THANK YOU GUYS FOR HAVING US HERE TODAY. I AM A PROUD LIFELONG RESIDENT OF CORAL GABLES. I WAS BORN IN THE CORAL GABLES HOSPITAL AS IT USED TO BE CALLED, AND I HAVE LIVED HERE FOR MANY YEARS, WELL, MY WHOLE LIFE. 22 AND I WANT TO TELL YOU A STORY TODAY ABOUT ANOTHER CORAL GABLES RESIDENT. THE OTHER DAY I GOT CAUGHT IN A HORRIBLE RAINSTORM, AND THIS WOMAN COMES OUT OF HER TOWNHOUSE AND SHE SAYS, COME, COME, YOU CAN STAY UNDER MY UNDER MY ROOF. AND I TURN AROUND AND THAT IS MEG DALY.

[00:45:03]

GOOD EVENING ONCE AGAIN, MRS. MARIA CRUZ, 1447 MILLER ROAD (300) 532-3215 FOUR. I JUST WANT TO MAKE A COMMENT. I THINK OUR RESIDENTS DESERVE TO BE AWARE THAT EVERY TIME THEY PAY THE WATER PYO. THEY. THEY'RE CONTRIBUTING $75. THAT'S $300 A YEAR TO BE PUT INTO A STORMWATER FUND. THAT WILL NOT BE USED UNTIL IT REACHES A HUNDRED MILLION. AND THAT THOSE OF YOU THAT KEEP AN EYE ON WHAT'S GOING ON, WE'LL SEE THAT THE STORMWATER THAT'S IN FRONT OF YOUR HOMES DOES NOT GET MAINTAINED, OR ANY MONEY SPENT ON IT, BECAUSE IT DOESN'T. I MEAN, I'VE BEEN WATCHING MINE FOR 50 YEARS, AND I HAVEN'T SEEN MAYBE MORE THAN 2 OR 3 TIMES WHEN THEY'VE COME AND CLEANED IT UP. SO REMEMBER WHEN YOU LOOK AT YOUR WATER BILL BECAUSE IT WAS A SURPRISE TO ME, $15 WATER EXPENSES, $92 BECAUSE THERE'S A $75 CHARGE. AND THIS IS THE HIGHEST, THE HIGHEST AMOUNT OF ALL THE MUNICIPALITIES IN THE COUNTY.

THE THE ONE THAT'S BELOW US IS $32 SOMETHING. SO FROM ALL THE MUNICIPALITIES, WE ARE THE ONES THAT PAY THE MOST THE NEIGHBOR, THE RESIDENTS, THE TAXPAYERS. SO DON'T THINK THAT YOU ONLY PAY TAXES. YOU ALSO PAY $75, $300 A YEAR TO PUT MONEY AWAY FOR FUTURE USE. MISTER MANAGER, WILL YOU PLEASE PROVIDE SOME CLARITY REGARDS TO THIS MAYOR? YES, MAYOR. WE HAVE THE THE THE FUND, THE THE FUND THAT WE ARE WE'RE WE WERE TALKING ABOUT FOR $34 MILLION, WHICH IS THE FUND THAT WE WANT TO GET TO, TO $100 MILLION. THAT IS FOR. NOT THAT'S NOT FOR ACTUALLY DRAINAGE, THAT THAT'S FOR SEA LEVEL RISE. WE DO HAVE A DRAINAGE FUND BECAUSE, BECAUSE PART OF THE STORMWATER FUND IS ALSO STORMWATER DRAINAGE FUND. AND, AND THAT'S WHAT KEEPS THAT'S WHAT ALLOWS US TO UPGRADE OUR DRAINAGE SYSTEM, MEAN MAINTAIN OUR, OUR PUMP SYSTEMS FOR DRAINAGE AND SO FORTH. SO THERE ARE TWO SEPARATE FUNDS. ONE IS STORMWATER AND ONE IS AND ONE IS FOR IS FOR THE. WATER ISSUE FOR. THANK YOU, MISTER MANAGER.

SO IT'S VERY EASY TO COME UP AND NOT GIVE THE FULL PICTURE IN REGARDS TO WHAT THE MONEY IS ACTUALLY BEING USED FOR. IF YOU BELIEVE IN SEA LEVEL RISE AND YOU BELIEVE THAT POTENTIALLY IN THE NEAR FUTURE, WE COULD HAVE A HERE, WHERE ARE YOU GOING TO GET THE MONEY TO ADDRESS THE ISSUE THROUGH THE MAYOR? BUT IF I MAY JUST LET ME JUST WHERE ARE YOU GOING TO GET THE MONEY TO ADDRESS YOU? YOU'RE GOING TO WALK INTO A BANK AND GET 500, 600, $700 MILLION TO ADDRESS SHORING UP LOW LYING COMMUNITIES. YOU UNDERSTAND THE THOUGHT PROCESS. IT'S CALLED PLANNING. IT GOES BACK TO WHAT I TOLD YOU BEFORE. IT GOES, BY 2013, YOU START SAVING MONEY, YOU PAY DOWN THE UNFUNDED LIABILITY, 2013, YOU PASS, YOU PASS LEGISLATION TO REQUIRE 25% OF YOUR RESTRICTED RESERVES. IT TAKES TIME, SO YOU HAVE TO PLAN ACCORDINGLY TO MAKE SURE YOU

[00:50:02]

THAT'S WHY WE HAVE MULTIPLE PIGGY BANKS TO ADDRESS STORMWATER DRAINAGE, SEA LEVEL RISE, MINIMIZING DEBT, AND ENSURING THAT WE HAVE AN ANSWER FOR FUTURE PROBLEMS. MADAM VICE MAYOR, SO THIS QUESTION IS ASKED TO ME OF ANOTHER RESIDENT THAT CAME UP WITH THE SAME OBSERVATION FROM MIAMI-DADE COUNTY. AND WHEN I HIGHLIGHTED THE FACT THAT CORAL GABLES DOESN'T HAVE THE FLOODING ISSUES THAT OTHER AREAS OF THE COUNTY DOES, WHERE YOUR YOUR CAR, YOUR ENGINE IS SUCKING IN WATER AND DESTROYING THE ENGINE. WE HAVEN'T HAD THAT PROBLEM HERE. AND THE ENGINEERING THAT GOES INTO THE DRAINAGE SYSTEMS IS FAR MORE ADVANCED NOW THAN WHAT WE'VE HAD IN THE PAST. OUR CITY IS PROACTIVELY TAKING CARE OF THESE THESE MATTERS ON A MANAGER. YOU CAN TALK ABOUT THAT WITH THE VALVES, PREVENT THE REVERSE FLOW FROM FROM STORM SURGE, ETC. THAT THE CITY HAS DONE. THE FRENCH DRAINS. VERY LITTLE OF IT IS NOW CONTINUING ON OUT LESS AND LESS TO THE WATERWAY. SO THANK YOU FOR THE LONG TERM PLANNING THAT YOU'VE DONE TO MAKE SURE THAT WE'RE MORE RESILIENT IN THE FUTURE. MAYOR, MANAGER, JUST TO, TO, TO DISCUSS WHAT THE VICE MAYOR JUST SAID. FOR INSTANCE, WE HAVE A, A POSITIVE SYSTEM THAT GOES FROM THE FROM DOWNTOWN ALL THE WAY THROUGH GRENADA AND GOES TO A PUMP STATION RIGHT AT BYRD ROAD. NOW, INSTEAD OF REPLACING THE PIPE, WHEN WE HAVE AN ISSUE, WE REPLACE IT WITH A FRENCH DRAIN. SO WE'RE CAPTURING WATER ALL THE WAY THROUGH. SO WE WE ARE DOING ALL THESE THINGS TO ACTUALLY IMPROVE OUR DRAINAGE THROUGHOUT THE CITY. SO IT'S NOT JUST RISING WATER THAT'S SEA LEVEL RISE. IT'S OTHER ISSUES. IT'S WE HAVE OTHER ISSUES. WE DO HAVE THAT SEA LEVEL RISE FUND, BUT THIS DRAINAGE FUND, WE USE IT VERY EFFECTIVELY TO IMPROVE OUR DRAINAGE AS, AS AS WE MOVE FORWARD. SO IT BRINGS ME PEACE AND CALM IS THAT WE HAVE AN EDUCATED COMMUNITY HERE THAT UNDERSTANDS AND OBVIOUSLY SEES THAT THE PROOF IS IN THE PUDDING HERE OVER YEARS AND YEARS OF BELT TIGHTENING. SO THANK YOU. AND YOU'RE NOT EASILY MISLED BY MR. CLARK THROUGH THE MAYOR. YES, SIR. JUST ONE ONE MORE COMMENT. YOU RAISED IT A FEW TIMES OVER THE LAST SEVERAL BUDGET MEETINGS, BUT I THINK IT'S WORTH REPEATING THE IMPORTANCE OF THE TRIPLE A BOND RATING. SO I KNOW EVERYONE HERE IS A HIGHLY EDUCATED GROUP. AND FOR THOSE WATCHING AT HOME, I MEAN, I'M NO FINANCIAL EXPERT, YOU KNOW, BUT THE TRIPLE A BOND RATING COMES FROM THE MAJOR CREDIT RATING AGENCIES. AND FOR OUR MUNICIPALITY OF OUR SIZE, THE TRIPLE A RATING, WHICH IS THE HIGHEST CREDIT RATING THAT YOU CAN ACHIEVE, IS A REFLECTION OF INCREDIBLY PRUDENT MANAGEMENT, A DIVERSE TAX BASE, THE ABILITY PROVEN TO BE ABLE TO REPAY OUR DEBT AND PLAN FOR THE FUTURE. THAT TRIPLE A BOND RATING MEANS THAT WHEN WE ACTUALLY GO OUT TO BUY OR, AS YOU SAY, RAISE OUR CREDIT AND WE TAKE ON DEBT, MEANS THAT WE'RE GOING TO GET THE BEST POSSIBLE INTEREST RATE. SO WHEN WE'RE TALKING ABOUT TENS OF MILLIONS OF DOLLARS OF A LOAN THAT WE'RE PLANNING TO TAKE OUT EVEN A TINY FRACTION OF AN INTEREST RATE SAVINGS WILL EQUATE TO MILLIONS OF DOLLARS OF A LOWER INTEREST PAYMENT THAT WE WOULD NEED TO MAKE. SO A CREDIT TO THE MANAGEMENT HERE, A CREDIT TO THE THE FINANCE STAFF, AND A CREDIT TO THE COLLEAGUES ON THE COMMISSION WHO CONTINUE TO THINK LIKE LIKE MINDED AND EMPHASIZE MORE THAN EVER THE THE NEED TO BALANCE THE PERFECT INTERSECTION OF PROVIDING THE SERVICES THAT THE CITY OF CORAL GABLES ■RESIDENTS EXPECT AND DESERVE WITH THE ABILITY TO. TO MANAGE OUR DEBT IN A WAY THAT WE CAN CONTINUE TO GROW. SO I JUST WANT TO THINK IT'S IMPORTANT TO MAKE THAT POINT AGAIN THAT YOU BROUGHT UP. IT'S VERY IMPORTANT BECAUSE WHEN WE DO HAVE THAT NATURAL DISASTER, GOD WILLING, WE NEVER DO. SEA LEVEL RISE COMES, $100 MILLION IS NOT GOING TO ADDRESS THE ISSUE THAT'S GOING TO BE BONDED OUT. IT'S GOING TO BE BONDED

[00:55:03]

GOOD AFTERNOON. WELCOME BACK. THANK YOU. GOOD EVENING. MY NAME IS DANIEL BALMORI. I AM A CORAL GABLES RESIDENT. I RESIDE AT 1109 ASTORIA AVENUE ALONG WITH MY WIFE AND OUR GOLDEN RETRIEVER. I'M AN ATTORNEY WHO FIRST CUT HIS TEETH WORKING WITH AN ATTORNEY YOU ALL MAY RECOGNIZE WHO WAS A LONGTIME CORAL GABLES RESIDENT AS WELL. PARKER THOMPSON. I BEGAN ADVISING THE. THE UNDERLYING WITH PARKER OVER A DECADE AGO, AND SO I'M FAMILIAR WITH THE UNDERLYING NOT ONLY AS A RESIDENT, BUT ALSO AS AN ADVISOR AND A VOLUNTEER. I'VE DONE THAT ALL PRO BONO. I WANT TO ENCOURAGE THE COMMISSION TODAY TO CONTINUE TO BE A

[01:00:05]

IT IS. WE'VE GONE ON COMMUNITY BIKE RIDES, CHEWY BARK PARK OPENING UP, AND THE COMMUNITY EVENTS THAT THEY'VE HOSTED IN THE AREA HAVE MADE A HUGE DIFFERENCE TO THE RESIDENTS AND ALSO EVERYONE WHO WORKS HERE. THANK YOU ALL. NEXT SPEAKER IS GOING TO BE KYLE PINEDA. ALL RIGHT. CAN YOU HEAR ME? YES, SIR. YES. MY NAME IS KYLE PINEDA. I RESIDE AT 1150 MADRUGA AVENUE. AND I'D LIKE TO THANK THE CORAL GABLES COMMISSION AND ALL THE ELECTED OFFICIALS FOR MAKING THE FAVORABLE MOTION FOR THE UNDERLYING REGARDING THE BUDGET APPROVAL. AND I'LL JUST SPEAK ON MY OWN PERSONAL EXPERIENCE. I'VE LIVED IN THIS NEIGHBORHOOD HERE ON THIS SIDE OF THE GABLES FOR NINE YEARS. SO I'VE SEEN THE TRANSFORMATION IN TERMS OF TRANSIT. AND IT'S LIKE NIGHT AND DAY WITH THE CHANGES OF THE UNDERLINE. AND GIVEN THAT I LIVE IN SUCH CLOSE PROXIMITY TO THE UNIVERSITY RAPID TRANSIT PLAN AND OVERLAY THAT HAS BEEN ESTABLISHED, I THINK IT'S CRITICAL THAT A QUALITY, THE QUALITY OF LIFE INFRASTRUCTURE COMES ALONG WITH IT. YOU KNOW, WE'RE GOING TO HAVE A LOT OF PEOPLE USING THE STATION, HOPEFULLY A LOT MORE PEOPLE USING THE STATION, AND TO HAVE THAT QUALITY OF LIFE PARK SO CLOSE TO US AND THESE AMENITIES IS ABSOLUTELY IT'S HARD TO PUT A VALUE ON IT. AND I HAVE TO SAY THE UNDERLYING IS ONE OF THE BEST INFRASTRUCTURE PROJECTS I'VE EVER SEEN IN DADE COUNTY AS A LIFELONG. AND SO I'D LIKE TO THANK THE CITY OF CORAL GABLES AND THANK THE COMMISSIONERS FOR YOUR DECISION. THANK YOU. NEXT SPEAKER IS HARRY PICKERING. THERE YOU GO.

HI. HOW ARE YOU? I'D LIKE TO TALK. MY NAME IS HARRY PICKERING, RETIRED POLICE LIEUTENANT CORAL GABLES POLICE DEPARTMENT. I RETIRED AT THE END OF 2006. OF COURSE, I WANT TO SPEAK ABOUT ABOUT THE. AND OUR PENSIONS. I WANT YOU TO ASK THE COMMISSION TO PLEASE CONSIDER DOING SOMETHING FOR THE RETIREES THIS YEAR. I JUST GOT THIS STATEMENT FROM OUR ACTUARY TODAY. AND FISCAL YEAR TO DATE, WE'VE EARNED INTEREST OF PLUS 10.25%. SO AS LONG AS WE HOLD ABOVE 10% IN THE NEXT 14 DAYS, WE'RE GOING TO HAVE A COLA HEARING IN NOVEMBER OR DECEMBER. AND BACK IN 2022, I BELIEVE IT WAS, MAYOR ANDERSON MADE A MOTION THAT WAS PASSED BY THE COMMISSION TO CREATE A FUND OR A BUCKET TO TO PUT SAVINGS IN, TO BUILD UP MONEY, TO FUND WITHOUT TOUCHING THE RETIREMENT SYSTEM, TO USE A SEPARATE FUND FOR A STIMULUS OR A PARTIAL COLA OR COLA. AND THAT'S NEVER BEEN DONE. THERE'S NEVER BEEN THIS BUCKET OR ACCOUNT CREATED IN THE BUDGET. AND IF THERE HAD BEEN, YOU KNOW, THERE WOULD BE MONEY IN THERE

[01:05:06]

PERFECT. MADAM CITY ATTORNEY, WILL YOU PLEASE READ THE ORDINANCE INTO THE RECORD? SO,

[3. 26-2034 An Ordinance of the City Commission providing for the levy of taxes for the fiscal year beginning October 1, 2026, and ending September 30, 2027; fixing the rate of such levy; providing for the segregation and the application of the proceeds of such levy; providing for the separability of the provisions hereof; and providing that this ordinance shall become effective October 1, 2026.]

ALL RIGHT. UP FOR DISCUSSION. WOULD ANY OF MY COLLEAGUES LIKE TO ADD ANY FURTHER DISCUSSION TO THE ITEM? YES, YES I WOULD. I WAS TRYING TO MOVE THAT ITEM BEFORE ANYBODY ELSE DID, BUT EVERYBODY WAS ON THEIR FEET TODAY. SO LET'S GO AHEAD AND TALK ABOUT THIS JUST A TAD BIT.

I WAS GOING TO GO AHEAD AND MOVE THIS ITEM, BUT WITH A MILLAGE RATE OF 5.390, WHY WE CANNOT FUND COMPLETELY FIXING POTHOLES. WE CANNOT FUND FIXING SIDEWALKS OR STREETS. IN FACT, I GOT AN EMAIL TODAY FROM ONE OF OUR RESIDENTS THAT I FORWARDED TO PUBLIC WORKS THAT HADN'T BEEN RESPONDED IN TWO WEEKS, SAYING THAT HIS BROTHER'S VERY ILL AND THE SIDEWALK HASN'T BROKEN. I DON'T KNOW FOR HOW LONG. AND HE FELL AGAIN. SO WHILE WE ARE MAKING AN EXTRA PAYMENT TO THE PENSION, WE CANNOT PAY OUR BILLS HERE. WE CANNOT MAINTAIN OUR CITY. SO WHAT I AM PROPOSING, AND I'M WHAT I AM PROPOSING DIRECTLY, IS PEOPLE NEED RELIEF. BUT IN A BALANCED APPROACH. I'M NOT SAYING STOP GIVING THAT EXTRA PAYMENT TO THE PENSION, BUT WHAT I AM PROPOSING IS WE DON'T NEED TO GIVE THAT FULL PAYMENT, THAT FULL EXTRA PAYMENT TO THE PENSION. WE GAVE ALMOST $9 MILLION. WE CAN GO AHEAD AND REDUCE THAT BY 4.25. THAT WOULD REDUCE THE MILLAGE BY 3.04%. THAT WOULD GIVE SIGNIFICANT RELIEF TO THE RESIDENTS, BUT NOT ONLY TO THE RESIDENTS, BECAUSE WE NEED TO THINK ABOUT A BALANCED APPROACH. THERE IS 80 YEAR OLD PEOPLE OR RESIDENTS LIVING IN HOMES THAT WE ARE PLANNING FOR, A FUTURE FOR A FUTURE THAT THEY ARE PAYING TAXES, REALLY NOT RECEIVING THE BEST BENEFITS POSSIBLE. TO NOT KNOW WHAT TOMORROW MAY BRING. THERE IS SINGLE MOTHERS THAT ARE TRYING TO MAKE A LIVING EVERY DAY AND THEY NEED RELIEF. THIS IS A BALANCED APPROACH. WE WILL STILL CONTINUE FUNDING AN EXTRA PAYMENT TO THE PENSION, BUT THIS IS MY PLAN. WE WILL NOT BE CUTTING SERVICES. WE WILL STILL BE FUNDING EVERYTHING THAT IS IN THE BUDGET NOW. CITY. BILLY, PLEASE PRESENT MY GRAPHIC. IF CABLE TV COULD PLEASE SHARE MY SCREEN COMMISSION. I RECEIVED TWO GRAPHICS FROM YOU. CORRECT? I'M NOT SURE WHICH ONE YOU WANT ME TO SHARE FIRST. WELL THEN SHARE ONE AND I'LL TELL YOU IF THAT'S CORRECT. ONE. OKAY, SO THEN THIS IS THE PLAN, THE PROPOSED MILLAGE RATE RIGHT NOW THAT THEY WANT TO GO AHEAD AND THAT THEY MOVE THE MOTION FOR IS 5.559. MY REQUESTED RATE IS 5.39. IF THERE IS NOT A FOURTH, IF THERE'S NOT FOUR VOTES HERE, THEN WE'LL GO BACK TO THE ROLLBACK RATE. I JUST WANTED TO PUT THAT ON THE RECORD. NOW,

[01:10:02]

AND THAT TO ME DOES NOT SOUND LIKE WE'RE TRYING TO GET RELIEF TO ANY OF OUR RESIDENTS. WE COULD STILL CONTINUE ON THE ROUTE TO CONTINUE TO FUND THE PENSION EXTRA. WE WILL NOT CUT SERVICES, BUT THIS IS THE SAFEST AND MOST BALANCED APPROACH TO THINK ABOUT THE PEOPLE THAT ARE HERE TODAY AND THAT WILL BE HERE TOMORROW. SO THAT WAS GOING TO BE MY MOTION.

OBVIOUSLY, LAST YEAR I PROPOSED YOU CAN GO AHEAD AND REMOVE THE IMAGE. THANK YOU SO MUCH. CABLE TV AS AS YOU GUYS KNOW, LAST YEAR I PROPOSED A MILLAGE REDUCTION AGAIN. THIS YEAR I'M DOING IT ONCE AGAIN. THIS CITY NEEDS TO FIND A BALANCED APPROACH AND WE NEED TO KEEP OUR RESIDENTS. IN A BALANCED APPROACH. PRACTICALLY THAT THAT IS ABOUT IT. THIS IS A A 3% REDUCTION. I DON'T THINK I'M GOING TO HAVE THE SUPPORT IN THIS COMMISSION, BUT IF THIS IS A VERY COMMON SENSE PROPOSAL. VICE MAYOR, VICE MAYOR. SO I PREFER TO PROVIDE ACCURATE INFORMATION TO RESIDENTS, NOT TO MISINFORM THEM, NOT TO GASLIGHT THEM, NOT TO USE POLITICS OF DISTRACTION. SO LET ME REMIND YOU WHAT HAPPENED WHEN WE TRIED TO GIVE RELIEF TO THE RESIDENTS ON A GARBAGE FEE. I MADE THE MOTION. THE MAYOR SECONDED IT. COMMISSIONER FERNANDEZ CARRIED IT. YOU WROTE IT AGAINST IT. THAT WAS REAL RELIEF FOR RESIDENTS. NOW, I UNDERSTAND YOU'VE DONE A NUMBER OF THINGS THAT HAVE CAUSED RESIDENTS CONCERN, SUCH AS TRYING TO EXPAND LIVE LOCAL, SO WE HAVE MORE DEVELOPMENT IN OUR CITY, TRYING TO DO AN INCREASED CHARGE ON PERMITTING FEES. THAT BROUGHT YOU TO TEARS WHEN IT FAILED. SO I ONLY CAN IMAGINE THE REAL REASON BEHIND THAT. THAT ACTUALLY BROUGHT REAL TEARS TO YOUR FACE WHEN THAT EXTRA CHARGE COULDN'T BE AVAILABLE FOR WHATEVER USE YOU HAD PLANNED TO USE IT FOR. THIS IS ABOUT A CAMPAIGN FLIER. LET'S FACE IT. YOU KNOW IT AND I KNOW IT. STOP LYING TO THE RESIDENTS. YOU OPPOSED THE GARBAGE FEE REDUCTION. THAT WAS REAL RELIEF. DIRECTOR. HOW MUCH DID WE LOWER THE GARBAGE FEE PER RESIDENT? MAYOR? THROUGH THE MAYOR. YES, VICE MAYOR FROM $770 TO $550. YES, BUT THE REAL COST. HOW MUCH DO WE SUBSIDIZE? WE. WE CURRENTLY SUBSIDIZE $9.2 MILLION. SO WE'RE TALKING ABOUT WELL OVER $171 AVERAGE, THE MAJORITY OF WHICH WOULD GO TO THE THE FOLKS THAT DON'T NEED IT THE MOST. BUT ME, MADAM VICE MAYOR, JUST SO PEOPLE UNDERSTAND AND PUT INTO PERSPECTIVE, WE'RE ALMOST SUBSIDIZING GARBAGE FOR EVERY HOME TO THE TUNE OF $1,000, ALMOST $1,000. I APOLOGIZE. I JUST WANTED TO NO, NO, NO, I MEAN $1,000. IT'S $1,000 AND IT'S GOING TO FOLKS AT THE SAME AMOUNT FOR EVERY SINGLE

[01:15:09]

I'VE HEARD NO ONE COME BEFORE US TODAY AND SAY, LET'S BRING DOWN THE MILLAGE RATE. I AM SUPPORTIVE OF THIS ORDINANCE. COMMISSIONER FERNANDEZ, I'M READY TO VOTE. MY RESPONSE IS SIMPLE I'M GOING TO AVOID BEING AN INSTAGRAM HIT THIS EVENING, SO I WILL NOT RESPOND WITH EVERYTHING THAT I BELIEVE JUST OCCURRED. YOU HEARD RESIDENTS COME BEFORE US AND SAY, DO NOT RAISE THE MILLAGE RATE. DO NOT LOWER THE MILLAGE RATE, KEEP IT WHERE IT'S AT. WE'VE GOT TO FOCUS ON THE CITY. WE'VE GOT TO MOVE FORWARD. WE'VE GOT TO FOCUS ON OUR EMPLOYEES WHO ARE STANDING BEFORE US. WE HAVE TO STOP PLAYING POLITICS WITH THE FUTURE OF THE CITY. I'M READY TO VOTE. WE HAVE A MOTION. WE HAVE A SECOND VICE MAYOR ANDERSON. YES. COMMISSIONER CASTRO. ABSOLUTELY NOT. COMMISSIONER FERNANDES. YES. COMMISSIONER LARA. YES. MAYOR

[4. 26-2035 An Ordinance of the City Commission adopting the Annual Budget of Estimated Revenues and Expenditures for the Fiscal Year beginning October 1, 2026 and ending September 30, 2027; providing for the separability of the provisions hereof; and providing that this ordinance shall become effective October 1, 2026.]

AND WHEREAS THE BUDGET ESTIMATES SUBMITTED TO THE COMMISSION ON JULY 1ST, 2026, AND THE AMOUNT OF $318,445,014 HAS BEEN REVISED BY THE CITY MANAGER TO INCLUDE REVENUE AND EXPENDITURE INCREASES IN THE AMOUNT OF $4,864,216, BRINGING THE TOTAL BUDGET AMOUNT TO $323,309,230 AND. THAT THE FOLLOWING SUMMARY OF ESTIMATED REVENUES AND EXPENDITURES FOR THE FISCAL YEAR COMMENCING OCTOBER 1ST, 2026 AND ENDING SEPTEMBER 30TH, 2027 IS HEREBY AGREED UPON AND ADOPTED, ALONG WITH THE SUPPORTING DATA RELATING THERETO ON FILE WITH THE FINANCE DEPARTMENT OF THE CITY OF CORAL GABLES AS THE OFFICIAL 2026 TO 2027 BUDGET OF THE CITY OF CORAL GABLES. ESTIMATED REVENUES FROM ALL SOURCES, INCLUDING THE MILLAGE LEVIED UPON ALL TAXABLE, REAL AND PERSONAL PROPERTY. WITH THE CITY TOTAL OPERATING REVENUES $302,153,108. TOTAL TRANSFERS FROM RESERVES $21,156,122. TOTAL REVENUES $323,309,230.

ESTIMATED EXPENDITURES FOR ALL OPERATING DEPARTMENTS. CAPITAL AND DEBT SERVICE. TOTAL OPERATING EXPENSE $254,082,086. CAPITAL PROJECTS $54,456,774. TOTAL DEBT SERVICE APPROPRIATION $10,564,436. TOTAL EXPENDITURES $323,309,230. THANK YOU, MADAM CITY ATTORNEY,

[01:20:04]

I AGREE WITH EVERYTHING IN THE BUDGET. THE ONLY THING THAT IS MY CONCERN IS THAT EXTRA PAYMENT TO THE PENSION. SO I WAS ASKING GUIDANCE FROM THE CITY ATTORNEY IF I SHOULD VOTE YES OR NO. GO AHEAD AND GIVE ME GUIDANCE, PLEASE. SO, COMMISSIONER, HOW YOU VOTE IS OBVIOUSLY A DECISION FOR YOU TO MAKE. IF I DISAGREE WITH THE AMOUNT THAT WE ARE PAYING FOR THE EXTRA PAYMENT TO THE PENSION, SHOULD I VOTE YES OR SHOULD I VOTE NO? SO THIS BUDGET THAT WAS PRESENTED AND THE ORDINANCE DOES NOT INCLUDE THE REDUCTION IN THE EXTRA PAYMENT THAT YOU JUST BROUGHT UP. SO FOR THAT REASON, EVERYTHING ELSE IS PERFECT. I AGREE WITH EVERYTHING AND I'M PUTTING THAT ON THE RECORD. BUT FOR THAT REASON I VOTE NO.

COMMISSIONER FERNANDES YES. COMMISSIONER LARA. YES. VICE MAYOR ANDERSON. YES. MAYOR LARGO YES. IN CLOSING, AS WE MAKE IT THROUGH OUR FIRST BUDGET HEARING, I WANT TO THANK STAFF. I WANT TO THANK ALL OF YOU FOR YOUR CONSTANT ATTENTION TO DETAIL, WORKING WITH ALL DEPARTMENTS, ESPECIALLY OUR FINANCE DEPARTMENT, THROUGH THIS LARGE EFFORT AND THE MANAGER'S DEPARTMENT. THANK YOU TO EVERYONE FROM THE DIRECTOR ALL THE WAY DOWN TO THE ENTRY LEVEL POSITION. WE CANNOT GET THIS DONE WITHOUT EVERY SINGLE EMPLOYEE PUTTING THEIR GRAIN OF SALT AND MAKING SURE THAT THIS IS A REALITY. I LOOK FORWARD TO BRINGING THIS BUDGET IN FOR A LANDING AND HAVING ONE MORE YEAR UNDER OUR BELT, ENSURING OUR VIABILITY BOTH FISCALLY AS A CITY AND ALSO AS A AS A CITY THAT OFFERS TRUE QUALITY OF LIFE. SO I ALSO WANT TO THANK THE MEMBERS OF OUR COMMUNITY WHO SHOWED UP ESPECIALLY TO TALK ABOUT THE UNDERLYING. THAT IS A PROJECT THAT I'VE CHAMPIONED FOR THE LAST TEN YEARS AND IS A TRULY A TRANSFORMATIONAL PROJECT THAT WILL CHANGE LIVES AND CHANGE HOW WE VIEW NOT ONLY THE CITY OF CORAL GABLES, BUT MIAMI-DADE COUNTY. SO I WANT TO THANK YOU. YOU HAVEN'T WAVERED. WHILE THINGS HAVE GOTTEN COMPLICATED, YOU HAVEN'T WAVERED ONE BIT. AND ALWAYS REMEMBER THAT THE CITY OF CORAL GABLES IS 110% BEHIND YOU AND GRATEFUL FOR YOUR EFFORTS. ALL OF YOU. THANK YOU VERY MUCH. GOD BLESS YOU, AND I HOPE YOU ENJOYED THIS EXPERIENCE AS MUCH AS I DID.

THANK YOU VERY MUCH. MOTION TO ADJOURN. MOTION TO ADJOURN. I'LL MOVE IT.

* This transcript was compiled from uncorrected Closed Captioning.