Public Information Session - Tuesday, May 22, 2018 - Cutler Bay
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Public Information Session Tuesday, May 22, 2018
Last Public Information Session
Thursday, May 3, 2018
Thank you for
attending!
Based on your feedback:
• Interactive Calculator
• Ad Valorem Tax
Calculator Worksheet
CutlerBayGOBond.org
What Will it Cost YOU?
Calculate your estimated ad
valorem tax from bond issuance
on our website:
CutlerBayGOBond.org
Call or email the Office of the
Town Manager to find out how
your property taxes will be
affected based on your
assessed home value:
305-234-4262
GOBond@CutlerBay-FL.gov
CutlerBayGOBond.org
Find Your Home’s Taxable Value
www.MiamiDade.gov/propertysearch
CutlerBayGOBond.org
If the G.O. Bond is Approved…
BREAKING NEWS
As of Friday, May 18, the Town executed a Letter of Intent for the purchase of 18.187
acres along Old Cutler Road, subject to voter approval of General Obligation Bond.
CutlerBayGOBond.org
Keeping You Informed
Outreach Efforts: May 10
Town Manager, Rafael Casals, presenting information about the G.O. Bond
to local business owners at the Cutler Bay Business Association Luncheon
CutlerBayGOBond.org
Keeping You Informed
Outreach Efforts: May 16
Town Manager,
Rafael Casals, and
Mayor Peggy Bell
presenting
information about
the G.O. Bond to
East Ridge
Residents
CutlerBayGOBond.org
Keeping You Informed Outreach Efforts: May 18 – May 20 Town Manager, Rafael Casals, Mayor Peggy Bell and the G.O. Bond Outreach Team reached over 2,200 shoppers at the Publix on Old Cutler Road to increase awareness of the upcoming election.
Keeping You Informed
Outreach Efforts: May 18 – May 20
G.O. Bond Outreach Team walked the streets of Cutler Bay to increase
awareness of the upcoming election.
STATS:
Bayshore Apartments:
275 Residents Reached
Saga Bay
Neighborhood:
120 Residents Reached
Caribbean Blvd
Corridor:
Visited every house
from SW 184 Street to
Florida Turnpike
What is a
General Obligation (G.O.) Bond?
A form of borrowing in which a municipality pledges
its full faith and credit (taxing power) to repay the
debt with interest over a specified term.
The Town Council adopted Resolution #18-16 on
March 21, 2018 calling for a referendum regarding
the issuance of General Obligation Bonds by the
Town.
CutlerBayGOBond.orgBallot Question
“Shall the Town of Cutler Bay issue general obligation bonds
not exceeding $40,000,000, in one or more series, as tax-
exempt and/or taxable bonds, maturing not later than thirty
years from their issuance dates, bearing interest not exceeding
the maximum allowable by law, payable from ad valorem taxes
levied by the town, to acquire and improve property for parks,
open space, public facilities, and economic development?”
• Parks and Open Spaces
• Public Facilities
• Economic Development
CutlerBayGOBond.orgCutlerBayGOBond.org
CutlerBayGOBond.org
If the G.O. Bond is Approved…
BREAKING NEWS
As of Friday, May 18, the Town executed a Letter of Intent for the purchase of 18.187
acres along Old Cutler Road, subject to voter approval of General Obligation Bond.
CutlerBayGOBond.orgGoals:
Preserving our environment
Walking and cycling paths
Parks & Open Spaces Development of parks for all-ages
recreation
CutlerBayGOBond.orgGoals:
Economic Development
Attracting high-end restaurants
Business development for higher paying jobs
Development of additional flex office spaces
CutlerBayGOBond.orgGoals:
A municipal complex and emergency operations
center
Public Facilities A multi-purpose community center
Additional public meeting spaces
CutlerBayGOBond.orgWhy?
The General Obligations Bond Referendum and
its potential uses, are based on the comments
provided by Town residents throughout eight (8)
Strategic Master Plan meetings adopted in
2014 via Resolution #14-71, Open-Mic Night
Town hall meetings, and general comments
received during Town Council meetings.
CutlerBayGOBond.orgAdopted 2014-2019
Strategic Master Plan
Economic and Business Development
Enhance the attractiveness and viability of Cutler
Bay as Business Location
Identify ways to attract high-end restaurants
Identify ways to attract higher paying jobs
Parks and Recreation
Develop parks, recreational facilities and
recreational programs to meet the current
and emerging needs of residents of all ages.
CutlerBayGOBond.orgVoting CutlerBayGOBond.org
Who Gets to Vote?
All registered voters in Cutler Bay.
As of May 16, all Town registered
voters have been mailed ballots
with return postage included.
CutlerBayGOBond.orgCutlerBayGOBond.org
How Do I Vote?
CutlerBayGOBond.orgHow Do I Vote? It’s Easy!
Miami-Dade County Elections mailed ballots to all registered
voters starting May 16th
1. You should have received
your ballot in the mail*
2. Complete your ballot
according to the instructions.
3. Mail in your completed ballot
so it is received by Miami
Dade Elections by 7:00pm
Tuesday, June 5th.
* If you have not received your ballot in the mail, call 311
CutlerBayGOBond.orgWhat will the General
Obligation Bond cost me?
CutlerBayGOBond.orgImpact of
Debt on Homeowners
Scenarios of Impact on the average
Homeowner with Taxable Value of $102,625*
Bond Annual Property Estimated Millage Monthly
Amount Taxes Rate Breakdown
$20 Million $58 to $62 /year 0.5641 to 0.6043 mills $4 to $5 /month
$30 Million $87 to $93 /year 0.8443 to 0.9046 mills $7 to $8 /month
$40 Million $115 to $124 /year 1.1247 to 1.2051 mills $9 to $10 /month
*Provided by Miami-Dade Property Appraiser
Call or email the Office of the Town Manager to find out how your property taxes
will be affected based on your assessed home value.
305-234-4262 | CutlerBayGOBond.org
CutlerBayGOBond.orgImpact of
Debt on Homeowners
Scenarios of Impact on Homeowner
with Taxable Value of $250,000
Bond Amount Annual Property Estimated Millage Monthly Breakdown
Taxes Rate
$20 Million $141 to $151 /year 0.5641 to 0.6043 mills $11 to $12 /month
$30 Million $211 to $226 /year 0.8443 to 0.9046 mills $17 to $18 /month
$40 Million $281 to $301 /year 1.1247 to 1.2051 mills $23 to $25 /month
Call or email the Office of the Town Manager to find out how your property taxes
will be affected based on your assessed home value.
305-234-4262 | CutlerBayGOBond.org
CutlerBayGOBond.orgWhat Will it Cost YOU?
Calculate your estimated ad
valorem tax from bond issuance
on our website:
CutlerBayGOBond.org
Call or email the Office of the
Town Manager to find out how
your property taxes will be
affected based on your
assessed home value:
305-234-4262
GOBond@CutlerBay-FL.gov
CutlerBayGOBond.orgFind Your Home’s Taxable Value
www.MiamiDade.gov/propertysearch
CutlerBayGOBond.orgWe’re Committed
To Keeping You Informed
CutlerBayGOBond.orgKeeping You Informed
Print Newspaper
• Miami Herald – Neighbors (May 6, May 17, May 27)
• Community News
A special mail-in ballot election
will be held on Tuesday, June 5, 2018
to decide if the Town should issue $40 million in general obligation
bonds to acquire vacant land to be used for any or all of the following:
Parks and Economic Public
Open Spaces Development Facilities
Get Ready to Vote!
To ensure that we represent the collective interest
of our residents, we ask that all registered
voters in Cutler Bay to the opportunity to vote
on the G.O. Bond Issue. If you are not already
a registered voter, you have until
to register to vote in the bond referendum.
Visit www.miamidade.gov/elections or call 3-1-1 to register
or check your registration status.
Important Dates
Wednesday, May 16 Tuesday, May 22 Tuesday, June 5
Referendum ballots 7:00 pm 7:00 pm
mailed to all registered Town Hall Deadline to receive
voters from Miami 10720 Caribbean Blvd. mail-in ballots at Miami
Dade County Elections. Public information Dade County Elections
session.
We Want to Hear from You!
T
CutlerBayGOBond.orgKeeping You Informed
Social Media
CutlerBayGOBond.orgKeeping You Informed
Mailing Materials
Two (2) direct mail pieces to
registered voters (26,062)
Mailing Dates
1. May 16 - 21
2. May 22 - 24
CutlerBayGOBond.orgKeeping You Informed
Banners - All Parks
Posters – Apartments/
Commercial Buildings
Yard Signs – Private Property
CutlerBayGOBond.orgKeeping You Informed
Outreach Efforts
Outreach Team (10 canvassers) May 18 – June 3
Distributing:
• Flyers
• door hangers
• yard signs
• ad valorem tax
calculator
worksheets
CutlerBayGOBond.orgWe Work for YOU!
CutlerBayGOBond.orgImportant Dates!
Wednesday, May 16th
Ballots mailed to registered voters from
Miami Dade County Elections
TODAY, May 22nd
Public Information Session
Tuesday, June 5th
Deadline for all ballots to be received at
Miami Dade Elections by 7:00 PM
CutlerBayGOBond.orgYour Town. Your Future.
Your Vote Counts!
CutlerBayGOBond.orgQuestions & Answers
Submitted by Town Residents
GOBond@CutlerBay-FL.gov
CutlerBayGOBond.orgQ&A
GOBond@CutlerBay-FL.gov
Q: When will the ballots be mailed?
A: Ballots have been mailed to all Town
registered voters on May 16, 2018 by
Miami Dade Elections and must be
received at Miami Dade Elections by
7pm on June 5, 2018
CutlerBayGOBond.orgQ&A
GOBond@CutlerBay-FL.gov
Q: Who votes? Do all property owners
have to vote or only residents?
A: As this is a mail ballot election,
ballots have been mailed to
all registered voters who live
in the Town of Cutler Bay.
CutlerBayGOBond.orgQ&A
GOBond@CutlerBay-FL.gov
Q: How much will it cost me?
A:
Calculate your estimated ad
valorem tax from bond issuance
on our website:
CutlerBayGOBond.org
Call or email the Office of the Town
Manager to find out how your property
taxes will be affected based on your
assessed home value:
305-234-4262
GOBond@CutlerBay-FL.gov
CutlerBayGOBond.orgFind Your Home’s Taxable Value
www.MiamiDade.gov/propertysearch
CutlerBayGOBond.orgQ&A
GOBond@CutlerBay-FL.gov
Q: Does “Economic Development”
mean more housing developments?
A: No. The goal for “Economic
Development” is:
• Acquire vacant land to attract high end
restaurants
• Attract business development for higher paying
jobs
• Develop additional flex office spaces
• Develop business incubator
CutlerBayGOBond.orgQuestions from Previous
Public Information Session
CutlerBayGOBond.orgQuestions from
Previous PI Session
Q: Where do you go to vote?
A: There are no polling locations.
This is an all-mail ballot election.
Q: If the G.O. Bond is approved, what land does the
A: the Town plan to buy?
Vacant parcels of land in Cutler Bay have been
identified but the purchase of any or all of them
is contingent on the approval of the G.O. Bond
and having a willing seller. (See map on next slide.)
CutlerBayGOBond.orgCutlerBayGOBond.org
If the G.O. Bond is Approved…
BREAKING NEWS
As of Friday, May 18th, the Town executed a Letter of Intent for the purchase of 18
acres along Old Cutler Road subject to voter approval of General Obligation Bond.
CutlerBayGOBond.orgQuestions from
Previous PI Session
Q: How will the Town determine what to do
with the vacant land once it’s purchased?
A: The best use of any land purchased with
funds from the G.O. Bond will be
determined through visioning exercises.
CutlerBayGOBond.orgFrequently Asked
Questions
CutlerBayGOBond.orgFAQs
Q: What is a Bond Referendum?
A: The Florida Constitution requires General
Obligation Bonds to be approved by a majority
of voters within the boundaries of the issuing
entity (the Town). A referendum is a set town-
wide election date on which voters may
consider the proposition or approval of the
bonds.
CutlerBayGOBond.orgFAQs
Q: What is a General Obligation (G.O.) Bond?
A: A General Obligation Bond, also known as a
G.O. Bond, is a debt mechanism that is
financially backed by the assessment of ad
valorem taxes. Ad Valorem taxes are
commonly referred to as property taxes. A G.O.
Bond must be approved by the voters before
proceeding with implementation.
CutlerBayGOBond.orgFAQs
Q: What are the benefits of issuing G.O. Bonds
compared to other bonds?
A: G.O. Bonds are the most cost-effective bonds
to issue (typically offering the lowest interest
rate compared to other bond types).
CutlerBayGOBond.orgFAQs
Q: What is the purpose of the Town of Cutler Bay’s
proposed General Obligation Bond?
A: The purpose of the Town of Cutler Bay’s proposed G.O. Bond is to
finance the acquisition of suitable land parcel(s) within the Town. The
bond proceeds may also provide, depending on fund availability, for the
financing of various capital improvement projects on such newly
acquired parcel(s) as determined by the Town Council with the input of
the Town residents in subsequent public meetings. Such
improvements on the newly acquired land parcel(s) could include park
and public facility improvements, economic development related
projects and a municipal complex, among others. These improvement
projects, if undertaken, will be based on community input after the land
parcel(s) is(are) acquired.
CutlerBayGOBond.orgFAQs
Q: Why is there not an itemized list of land to be
purchased and the estimated cost of each of the
properties?
A: Although the Town has identified potential properties that it
would like to purchase for parks, open space, public facilities
and economic development, the contract to purchase any
potential property will be contingent on successful passage of
the bond referendum. If the Town enters into any such
contingent contract or otherwise agrees to a purchase price for
any of the potential properties prior to the referendum date, the
Town will post such information on the Town’s website.
CutlerBayGOBond.orgFAQs
Q: Does the Town have other G.O. Bonds now?
A: No.
Q: What will is cost residents?
A: If the full $40 million in General Obligation Bonds on the ballot
are approved and issued in 2018, based on current bond
market conditions, the estimated maximum impact on the
average Town of Cutler Bay homesteaded residential property
owner would be an estimated $124/year. However, it is likely
that the Town will not issue the entire $40 million of bonds at
one time. Instead, the bonds may be issued in series over
several years, so the full impact of the tax may not be realized
at the time the first series of bonds is issued.
CutlerBayGOBond.orgFAQs
Q: Will the G.O. Bond be used to improve
existing parks?
A: No, the funds will be used to acquire suitable
land parcel(s) and, depending on fund
availability, make capital improvements only
to the newly acquired land parcel(s) after
community input.
CutlerBayGOBond.orgFAQs
Q: How will the new bonds impact the Town’s
annual debt service payments and property
taxes?
A: Once the General Obligation Bonds are sold and the interest
rate is fixed, the debt service to the Town will be fixed. The
actual amount of debt service and the exact millage rate will
depend on the interest rate and other factors at the time
when the bonds are actually issued. Because overall
property values for the Town, and individual property values,
may fluctuate over time, the millage rate may be adjusted up
or down to collect the projected amount of annual debt
service in each fiscal year.
CutlerBayGOBond.orgFAQs
Q: Will there be a G.O. Bond millage assessed
each year?
A: It is expected that a G.O. Bond millage rate will be assessed
by the Town each year the G.O. Bond(s) are outstanding and
will continue until the maturity of the G.O. Bond(s).
Q: When will the G.O. Bond assessment first
appear on my tax bill?
A: Should Town voters approve the G.O. Bond, it is currently
anticipated that the assessment will first appear on the
November 2018 tax bill.
CutlerBayGOBond.orgFAQs
Q: How long will the G. O. Bonds be outstanding?
A: 30 years from the issuance of each individual
bond series.
Q: What is a series?
A: A series is a single issue of a bond. The
referendum being voted upon allows for the
issuance of up to $40 million in G.O. Bonds,
in one issuance or as a series of issuances
not to exceed the authorized total.
CutlerBayGOBond.orgFAQs
Q: Can bond funds be spent on salaries for staff
and elected officials, day-to-day business
operations, parties or events? What are
authorized uses of bond funds?
A: No! Bond proceeds cannot be used to pay
day to day operating costs. The proceeds can
only be used on these approved purpose(s)
indicated in the bond referendum question.
CutlerBayGOBond.orgFAQs
Q: When will the Town close on the bonds and
have the proceeds?
A: Registered voters will be eligible to vote on the bond via a ballot that
has been mailed to them on Wednesday, May 16, 2018. When the
ballot is received, follow the directions included and mail it back in the
envelope provided. The postage will be prepaid, and there will be no
cost to you to mail it back. If you prefer to return the ballot in person,
you may bring it to Miami Dade Elections in person at 2700 NW 87
Avenue, Doral, Florida 33172. ALL ballots must be received by Miami
Dade Elections by 7 PM on June 5, 2018 in order for them to be
counted. DO NOT RETURN YOUR BALLOT TO TOWN HALL. For
further information or questions about your ballot, call Miami Dade
Elections at 305-499-VOTE (8683) or visit
www.miamidade.gov/elections.
CutlerBayGOBond.orgQuestions?
We Want to Hear From You!
• Fill out a comment card
• Send us an email: GOBond@CutlerBay-FL.gov
• Give us a call: 305-234-4262
• Visit our website: CutlerBayGOBond.org
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