The URL can be used to link to this page

Home My WebLink AboutSEOPW-CRA-R-01-0120SEOPW/CRA ITEM 5B � r�pw/ RESOLUTION NO. Q �� A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("CRA") APPROVING THE CAPITAL IMPROVEMENT AND PROGRAM BUDGET FOR FISCAL YEAR 2002, ATTACHED AS "EXHIBIT A", FOR SAID AGENCY AND TO AUTHORIZE ITS TRANSMISSION TO THE CITY OF MIAMI AND MIAMI- DADE COUNTY. WHEREAS, the CRA is responsible for carrying out community redevelopment activities and projects in the Southeast Overtown/Park West Redevelopment Area (the "Redevelopment Area") established pursuant to the Redevelopment Plan; and WHEREAS, the CRA desires to accept the Capital Improvement and Program Budget for Fiscal Year 2002, attached as "Exhibit A", and transmit same to the City of Miami and Miami -Dade County. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF MIAMI, FLORIDA: SEOPW / CRA 01- 120 Section 1. The recitals and findings contained in the Preamble to this Resolution are incorporated herein as if fully set forth in this Section. Section 2. The CPA Board of Directors hereby accepts the Capital Improvement and Program Budget for Fiscal Year 2002, attached as "Exhibit A", and authorized the Executive Director to transmit same to the City of Miami and Miami -Dade County. Section 3. The Resolution shall be effective upon its adoption. PASSED AND ADOPTED on this 24th day of September, 2001. ARTHUR E. TEELE, JR., CHAI ATTEST: WA ER J . FOEMAN 1 CITY CLERK APPROVED Ag''TQI FORMZD CORRECTNESS: LO TTORNEY Page 2 of 2 ,,r W/CRA 01- 120 CITY OF MIAMI COMMUNITY REDEVELOPMENT AGENCY Funding Sources Tax Increment Revenue City Tax Increment Revenue County Interest on Investment Impact Fees Grant Funding Interlocal Agreement - General Assistance Prior year carryover and reimbursement Intrafund Loan from SEOPW Transfers Appropriated Fund Balance Allowance for Property Adjustment Board (PAB) Expenditures Salaries & Fringes Operating Expenses Furniture, Fixtures and Equipment Projects and Programs County Interlocal Agreement (Performing Arts Theatre) Debt Service Budget Reserve Allocation - City Clerk & Attorney Transfers Indirect Cost Allocation Revised 9/17/2001 r 9/17/20016:59 PM OMNI Trust Fund - Fiscal Year 2002 Adopted Modified Estimate FY 2001 FY 2001 FY 2002 $ 624,295 $ 624,295 $ 1,015,787 403,172 393,449 649,449 25,000 35,000 45,259 - - 341,400 - - 422,415 - 85,000 - 150,000 533,566 - - - 462,967 - 1,005,237 - - - 1,200,000 - - (83,262) $ 1,202,467 $ 2,676,547 $ 4,054,015 68,353 25,000 - - 1,000 3,500 - 1,632,803 2,605,515 1,027,467 1,017,744 1,430,000 106,647 - - - - 15,000 2,676,547 4,054,015 1,202,467 .h IF CITY OF MIAMI COMMUNITY REDEVELOPMENT AGENCY OMNI Project - 686001 Modified FY101 FY'01 FY'01 FY102 Budget Actual YTD Pro a. YIE Projected Source Revenues Taxes Real Current 624,295 624,295 624,295 1,015,787 Contr. From Other Govt. Cnty. 403,172 292,449 292,449 649,449 Allowance Property Appraisal Board (PAB) (83,262) Interest on Investment 25,000 36,207 36,207 45,259 Carryover Fund Balance 150,000 - - - Impact Fees 341,400 - - 341,400 Safe Neighborhood Grant 260,420 - - 260,420 Florida Inland Navigation District 161,995 - - 161,995 Intrafund Loan from SEOPW - - - 462,967 Appropriated Fund Balance 1,200,000 - - 1,200,000 3,166,282 952,951 952,951 4,054,015 Expenditures Salaries -Unclassified 51,496 28,020 28,020 - Social Security Contrib. 4,857 1,479 1,479 - Advertising 2,500 500 750 2,500 Other Contractual Services 2,000 19 19 - Entertainment 2,500 175 175 1,000 Construction in Progress 1,243,600 42,002 43,600 2,605,515 Intergovernmental Charges 1,027,467 1,017,744 - 1,430,000 Allocation -City Clerk & Atty 15,000 Budget Reserve 68,047 - - - 2,402,467 1,089,940 74,043 4,054,015 763,815 (136,989) 878,908 (0) Revised 9/17/2001 9117120016:54 PM NOTES: Projects: Funding TIF Florida Inland Navigation Safe Neighborhood 1997 Safe Neighborhood 1998 CRA Loan from General i Impact Fees Funding difference Bathrooms from Pahse II Amt. Required for BR in 1 Hard & Soft Costs IA Hard & Soft Costs-e I $3.6M as of 8/21/ 11 1,378,733 Interlocal A. reement 161,995 123,850 136,570 462,967 0 Diff. from TIF (below) 315,000 315,000 535,313 J Increment Rev. 2,605,5151Total 1,430,000 0 0 0 0 0 1,430,000 235,236 1,665,236 �J t` 9117120016:53 PM 3 0.000% 25.000% v 20.000% 15.000% . 10.000% a� 5.000% 0.000% CITY OF MIAMI COMMUNITY REDEVELOPMENT AGENCY SEOPW 1999 Final 2000 Year of assessment ,.2001 ■ SEOPW