I've got all the regulators going to be in my city council for two days December 6, 2020 by 2. I'm running on a demographic updated gap and now what those things tell us, the same businesses are looking at talking Spanish to work. And if there's enough business in here never get an analysis before we can turn into any time you won't come up with that process What it tells is... If he give him more than anything given reach out of category how much were currently selling? What we're missing out on, the particular category in other words that's a gap. Let me leave you to go with some of our community and purchase those same goods and services And this is what businesses will look at determine if your communities stay there They all don't make it an unknown field but gap analysis tells us where would week? That for weeks just when does he need... Does anybody else have any money going back into his company He just needs to pronounce the truth. That's what we've been working, great team strategies that you're working with this You get some deep in here before two months or a million years project We met was they potential restaurant business downtown 2 weeks ago And Shannon pulled out of that house and set up on his phone Automated license plate for your cameras, contented on phone legal And by now to review you all the business and manager design So this is a continuation of big grant that I've talked about in last couple months Six more camera's, but something what do we give? 10 clock cameras And just takes care Every single location where there was a clock hammer At no extra Sweet Thank you, thank you Hi James, hi, Boris Alright I would also dislike to this We got a lot of work for the in-car camera set as such Okay 4D through M For all going be 4Noses So these are The order is that can drive the old family wreck center Group of ordinances and if they like to wreck center under this scheme They're running more place, what's your or Pull our bill you tables are maintained Or one a more football air hockey Or pinball table or maintain Our AD combination for profit But it not at all That was different This is another set of ordinances that will then recommend it That we reveal As being out there and It'll help with the ordinance to get more of today The old gal 10 From Mr. Lvisson And do you want to visit Greg? Yes sir Okay, so looking for a motion on 1, 2 1 2 2 2 2 3 4 2 2 2 2 2 2 3 1 2 4 5 4 4 2 2 4 4 4 4 2 2 4 5 4 2 3 2 4 4 4 4 1 3 2 4 5 4 4 4 4 4 4 4 2 4 5 1 3 2 4 6 4 4 4 4 4 4 And in that 10 years I have a proud to say If you ever had become back for this council To say, You need to contribute more money In fact since Since As of today Your costs And your cost has still been coming down So with the amount of money The number 2 Because that is approximately what the city contributes Into The retirement system So I gave an actuarial study inside this folder And i want to go over To To To You have been diligent in how you've come To the land You have a ability that you can award or do and upgrade in your plan And once again, if we'll not cost any new dollars So currently Your on-plan level BB The employees contribute 4.5% And they'll require a rate by the city of 7.12 However, you are contributing approximately 13 .2%. So your over Funding Your retirement plan What we're proposing tonight is because Of that funding policy You can move up to play level double A The employees currently would stay at 4.5% And if you buy, we would present a plan of Min-Lin to increase their contribution rate To 5.5%. So the city will contribute The 9% actually is a little more than that It's a 3.10 point 4 o percent Again still approximately Free percentage points less Than what your actual contributed Go over it in this page When you started with the MREF Your retirement system is approximately 65% funded As of this most recent actual Whereiel's steady You are now 88 percent funding So your funding level has come up dramatically And that�s width The two upgrades which we've given If going down to current What column? You are your plan Those $9.90 million to retire Survivors who deferred best People out of pinch and just not collected You owe 7 .8 millions To you're active employees And the total liability is 17,7 billion As Of July 1st in 24 You had 15.6 million So this unfunded liability was 2.165 Million If you choose to do the plan level Increased, notice The increase only effect Sure active employee group That does not affect any of your retirees And so liability for Your active employer group would increase To 1.513 million So total liability then Would be 19 You still have 15.6 on a bank You would be $3.4 million But again, you are over funding your plan In an effort to try and pay that liability down And so we project it Over time It will pass substantially quicker Than what was projected here We've been projecting 25 years The reason that this improvement is a big deal for your employee group This represents an 16 And 2

                               Miami City Council Regular Meeting
MEETING DATE:    December 16, 2025

AGENDA TITLE:    Presentation From Miami Area Economic Development Service (MAEDS)

PRESENTER:       Shannon Duhon

BACKGROUND:

STAFFS RECOMMENDATION: