1. Here are the Bottom Line numbers from Mr Titterington's Spreadsheet dated 4/27.

These numbers include the $1.5M Huelskamp purchase.

Duke Park Enhancements

Senior Citizens Center
Miami Shores
TOTAL

Total Cost
13,200,000
100,000
1,500,000
14,800,000

City Funds
1,735,000
7,813
117,188
1,860,000

Grants/Foundations
1,440,000

Private Pledges
4,000,000

1,440,000

4,000,000

Levy
6,025,000
92,188
1,382,812
7,500,000

Mr Titterington's spreadsheet indicates that 50.68% of the total cost is from the levy, and 49.32% is non-Levy. This suggests a partnership arrangement where
taxpayer's are paying about 50% based on $7.5M of the $14.8M total cost. Mr Titterington does not include the $1,860,000 City Funded amount as a Taxpayer
cost, but it should be included because City Funds come from either income taxes or corporate taxes.
Had Mr Titterington included City Funds, the taxpayer amount is $9,360,000 ($1,860,000+$7,500,000) which is 63.2% of the total $14,800,000.
2. Because the Levy amount certified is actually $10,000,000 the spreadsheet should be corrected to reflect that. Bottom Line numbers then become:

Duke Park Enhancements

Senior Citizens Center
Miami Shores
Cost of Levy*
TOTAL

Total Cost
13,200,000
100,000
1,500,000
2,500,000
17,300,000

City Funds
1,735,000
7,813
117,188

Grants/Foundations
1,440,000

Private Pledges
4,000,000

1,860,000

1,440,000

4,000,000

Levy
6,025,000
92,188
1,382,812
2,500,000
10,000,000

When City Funds are included as taxpayer funds in these corrected Bottom Line Numbers, the taxpayer amount is $11,860,000 ($1,860,000 + $10,000,000)
which is 68.8% of the corrected total $17,300,000
* of the $2,500,000 cost for the levy, $936,400 has been identified as financing costs (10 year bond at 2.5% interest). The remaining $1,563,600 needs to be justified.
3. Because $1.5M has already been spent to purchase the Huelskamp farm, this is a sunk cost. It is not part of the funds being sought to accomplish
the Operation Recreation 2020 Proposal. When the $1.5M is subtracted from the corrected Bottom Line numbers in step 2, the new Bottom Line total is:

TOTAL from Step 2

Less Farm Purchase
TOTAL W/O FARM PURCHASE

Total Cost
17,300,000
-1,500,000
15,800,000

City Funds
1,860,000
-660,000
1,200,000

Grants/Foundations
1,440,000
-840,000
600,000

Private Pledges
4,000,000
4,000,000

Levy
10,000,000
10,000,000

For the funds being sought for this levy, taxpayers are funding $11,200,000 ($1,200,000+ $10,000,000) which is 70.9% of the $15,800,000 required
We strongly recommend that the full Council review/approve the numbers in step 3 during the 16 May Council Meeting so they may completely understand
that the real total cost of the Operation Recreation 2020 proposal is actually $15.8 M in addition to the $1.5M purchase of the Huelskamp farm. It is important
that every member of the Council understand that taxpayers are actually being asked to fund 70.9% of the total $15.8M bill, and that this
is not a 50/50 partnership as is currently being sold to the public.