The URL can be used to link to this page

Home My WebLink AboutSEOPW-CRA-R-03-0059ITEM S-2 JUL 15 2003 RESOLUTION NO. SEOPW/CRA R-0 ss�� 3'" A RESOLUTION, WITH ATTACHMENT(S), OF THE BOARD OF DIRECTORS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY AMENDING THE SEOPW TIF AND GENERAL OPERATING BUDGETS FOR THE FISCAL YEAR ENDING SEPTEMBER 30, 2003, AS ADOPTED BY RESOLUTION NO. SEOPW/CRA R-02-146 AND AMENDED BY RESOLUTION NO. SEOPW/CRA R-03-50, BY APPROPRIATING FUNDS FROM THE SEOPW FUND BALANCE INTO OPERATING ACCOUNTS WITHIN THE SEOPW TIF FUND AND THE GENERAL OPERATING FUND. WHEREAS, the Southeast Overtown/Park West Community Redevelopment Agency (the "CRA") is responsible for carrying out community redevelopment activities within the Southeast Overtown/Park West Redevelopment Area; and WHEREAS, by resolution SEOPW/CRA R-02-146, passed on September 12, 2002, the Board of Directors adopted the CRA's proposed General Operating and SEOPW TIF budgets for the fiscal year ending September 30, 2003; and WHEREAS, by resolution SEOPW/CRA R-03-50, passed on May 28, 2003 the Board of Directors adopted an amendment to the General Operating and SEOPW TIF budgets allocating funds from the SEOPW reserve account; and Page 1 of 3 SE®PW/M 93- 59 ITEM S-2 • JUL 15 2003 WHEREAS, to fully carry out fiscal year 2003 redevelopment activities the Board of Directors finds it appropriate to revise the proposed General Operating and SEOPW TIF budget; 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: Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by reference and incorporated herein as if fully set forth in this Section. Section 2. Resolution No. SEOPW/CRA R-02-146, adopted September 12, 2002, setting forth the Proposed Operating and SEOPW TIF Budgets for SEOPW/CRA fiscal year ending September 30, 2003, is amended as described in Exhibit "A" attached hereto. Section 3. The CRA's Executive Director is authorized to transmit the amended budget to the City of Miami and Miami -Dade County. Page 2 of 3 - SE®PW/CRA 03- 59 ITEM S-2 JUL i LUGS Section 4. This Resolution shall become effective immediately upon its adoption. PASSED AND ADOPTED this l' day -of July, 2003. Y 77 .-.._� ARTHUR E. TEELE, JR., CHA RMAN ATTEST: PRISCILLA A. THOMPSON CLERK OF THE BOARD APPROVED,&XS TO 1015RMARD CORRECTNESS: RO VILARELLO COUNSEL JHV Page 3 of 3 93- 59 ITEM S-2 SOUTHEAST OVERTOTATN/PARK WEST AND OMNI r COMMUNITY REDEVELOPMENT AGENCIES INTER -OFFICE MEMORANDUM To: Chairman Arthur E. Teele, Jr. and Members of the CRA Board From: Fra �Ka�olla�son Executive Director RECOMMENDATION: Date: July 07, 2003 File: Subject: Amend FY 103 SEOPW TIF General Operating Budgets References: Enclosures: Resolution, Budget It is recommended that the Board of Directors for the Southeast Overtown/Parks West CRA approve the attached Resolution authorizing the specified budget amendments for the FY '03 General Operating Budget and the SEOPW TIF Budget by transferring funds from the current Fund Balance. JUSTIFICATION: It is necessary to authorize the specified appropriation amendments to the FY '03 General Operating Budget and the SEOPW TIF Budget to enable approved and anticipated expenditures to take place during the balance of FY ' 03 - through September 30, 12003 Please. keep in mind, that any funds not expended in FY 103 will "roll over" into FY '04 as designated by the CPA Board of Directors. FUNDING SOURCE: CURRENT FUND BALANCE AS SPECIFIED IN ATTACHED RESOLUTION FKR/EM SEOPW/CRA ®3- 59 • • ITEM S-2 top JUL 15 2om 05/08/03 RESOLUTION NO. SEOPW/CRA R- 0 3 ` 50 A RESOLUTION, WITH ATTACHMENT(S), OF THE BOARD OF DIRECTORS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY AMENDING THE OPERATING AND TIF BUDGETS FOR THE FISCAL YEAR ENDING SEPTEMBER 30, 2003 AS ADOPTED BY RESOLUTION NO. SEOPW/CRA R-02-146 ON SEPTEMBER 12, 2002. WHEREAS, the Southeast Overtown/Park West Community Redevelopment Agency (the "CRA") is responsible for carrying out community redevelopment activities within the Southeast Overtown/Park West Redevelopment Area; and WHEREAS, by resolution SEOPW/CRA R-02-146, passed 'on September 12, 2002, the Board of Directors adopted the CRA's proposed operating and TIF budgets for the fiscal year ending September 30, 2003; and WHEREAS, to fully carry out fiscal year 2003 redevelopment activities the Board of Directors finds it appropriate to revise the proposed operating and TIF budget; 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: Page 1 of 3 SEOPW/CRC°► 03 - 59 - 0 • 0 Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by reference and incorporated herein as if fully set forth' in this Section. Section 2. Resolution No. SEOPW/CRA R-02-146, adopted September 12, 2002, the Proposed Operating and TIF Budgets for SEOPW/CRA Fiscal Year Ending September 30, 2003, is amended as described in Exhibit A attached hereto. Section 3. The CRA's Executive Director is authorized to transmit the amended budget to the City of Miami and Miami -Dade County. Section 4. This Resolution shall, become effective immediately upon its adoption. PASSED AND ADOPTED this I� day of 2-003. VARTR E. TEELE, JR., CHAIRMAN ATTEST: i jt� PRI VILLA A. THOMPSON CLERK OF THE BOARD Page 2 of 3 SECPW/CRA 93- 59 • • • • APPROVED A FORM AND CORRECTNESS: Arl V RELL GE L COUNSEL 7KR:SG Page 3 of 3 SE®PW%CRA 03- 59 ® ITEM S-2 JUL 15 2003 CRA TRANSFERS To SEOPW operating accounts $ 2,672,313 To General Operation operating accounts $ 325,000 Transfer total from SEOPW Fund Balance $ 2,997,313 Project Index: 689001.550108.6. SE OVERTOWN PARK WEST TAX INCREMENT FUND- ORD 10039 From SEOPW Fund Balance Into perspective accounts below Minor Obj 589001.550108.6.270 Professional Services - Other 3-Overtown Businesses Doug Bruce & Assoc NDC Metric Engineering Projected Other Services Prof Services - Other Transfer Total 689001.550108.6.250 Professional Services - Legal Katz Kutter Holland and Knight Projected Legal Fees Prof Services - Legal Transfer Total 689001.550108.6.860 Construction in Progress 3-Overtown Businesses Solomon Yuken Florida Power and Light HJ Ross Projected Constructions Construction Transfer Total 689001.550108.6.940 Other Grants and Aids Camillus House 08.6.220 $ 160,000 $ 92,500 $ 25,000 $ 6,145 $ 25,000 $ 7,000 $ 750,000 $ 200,000 $ 271,668 $ 150,000 $ 25,000 Right, Two Guys, Jackson Soul Right, Two Guys, Jackson Soul Arena, Elevator Subtotal $ 2,672,313 Project Index: 689004.550011.6. GENERAL OPERATING From SEOPW Fund Balance into perspective accounts below. Minor Obj Account# Description Amounts Comments 689004.550011.6.280 Professional Services Accounting $ 90,000 689004.550011.6.495 Parking Expense $ 15,000 689004.550011.6.110 Retirement Contribution $ 5,000 689004.550011.6.160 Unemployment Insurance $ 2,000 689004.550011.6.150 Worker's Compensation $ 5,000 689004.550011.6.510 Communications Serv. Teleph. O $ 5,000 689004.550011.6.270 Professional Services -Other $ . 160,000 6189004.550011.6.840 Equipment New $ 20,000 Purchase of Computer Equipment 689004.550011.6.710 Food $ 3,000 689004.550011.6.340 Other Contractual Services $ 20,000 689004.550011.6.170 Severence Pav � in nnn Subtotal $ 325,000 SEOPW/CIS' U3- 59 • G� OF * u5nr IIAT u:: 't p q Budgetary Impact Analysis Department OW Division: Commission Meeting Date: 06/30/03 Title and brief description of legislation or attached ordinance/resolution: CRA Transfers 1. Is this item related to revenue? No ❑ Yes ® Revenue Source: TIF 2. Is this item an expenditure? No ❑ Yes ® Amount: 2,997,313 General Fund Account No: - n/a Special Revenue Fund Account No: 101 CIP Project No: n/a 3. Are there sufficient funds in Line Item? No: ❑ Yes: Sufficient funds will be transferred from the fnllnwinv line itemc- ACTION ACCOUNT NUMBER TOTAL From SEOPW FUND BALANCE $2,997,313 From $ To 689001-550108.6.270 $473,645 689001-550108.6.250 92,000 689001-550108.6.860 2,071,668 689001.550108.6.940 25,000 689001.550108.6.220 10,000 689004.550011.6.280 90,000 689004.550011.6.495 15,000 689004.550011.6.110 5,000 689004.550011.6.160 2,000 689004.550011.6.150 5,000 689004.550011.6.510 5,000 689004.550011.6.270 150,000 689004.550011.6.840 20,000 689004.550011.6.710 3,000 689004-550011.6.340 20,000 689004.550011.6.170 10,000 To $ 4. Is this item funded by Homeland Defense/Neiabhnrhnnd TmnrnVP.mP.nt RnnA0 mn m Vac Fl Project Name Total Bond Allocation 1°` Series Appropriation Dollars Spent to Date Encumbrances & Commitments Balance Comments: Approved by: Department Director/Designee i( /� 3 SE®PW/CRA Date 9 * APPROVALS tudgeting & Date: (p -M - 4i, Verified by CIP: (If applicable) irect r/Designee Date: *VERIFICATION DISCLOSURE: The verification above is based on review of the City of Miami Southwest overtown . Park West Redevelopment Agency; Audited Financial Statement for the period ended September 30, 2001. These financials reflect an available fund balande of $5,129,623. Sp OPW/CRA 03- 59 • CITY OF MIAMI SOUTHEAST OVERTOWN PARK WEST REDEVELOPMENT AGENCY (A COMPONENT UNIT OF THE CITY OF MIAMI, FLORIDA) Financial Statements September 30, 2001 (With Independent Auditors' Report Thereon) SEOPW/CRA 93- 59 CITY OF MIAMI SOUTHEAST OVERTOWN PARK WEST REDEVELOPMENT AGENCY (A COMPONENT UNIT OF THE CITY OF MIAMI, FLORIDA) Combined Statement of Revenue, Expenditures and Changes in Fund Balances All Governmental Fund Types For the year ended September 30, 2001. Governmental Fund Types Total Special Debt Capital Memorandum General revenue service project Only Revenue: Tax increment revenue $ - 918M4 - - 918,394 State of Florida revenue sharing - - 300,000 - 300,000 79,826 _ Rental Interest 79,826 35,353 124,922 39,663 142,009 341,947 Total revenue 115,179 1,043,306 339,663 142,009 1,640,157 Expenditures: Current: General government 1,339,635 - - - 11339,635 Community development - 375,000 - - 375;000 s1 frr �1 Debt service: Principal105,000 - 1 - - i05,000 Interest - - 251,600 - 251,600 Capital outlay 276,035 1,833,812 - 342,151 2,451,998 Total expenditures 1,615,670 2,208,812 356,600 342,151 4,523,233 Deficiency of revenue under expenditures 1,500,491 1,165,506 (16,937) 200,142 (2,883,076) Other financing sources (uses): - 22,106 56,600 - 78,706 Operating transfers in Operating transfers out (22,106) (56,600) - - (92,877) Operating transfers in from primary govaument 1,426,210 384,015 - 282,652 2,092,877 Total other financing sources (uses) 1,404,104 349,521 56,600 282,652 2,092,877 Excess (deficiency) of revenue and other financing sources over (under) expenditures and other financing uses (96,387) (815,985) 39,663 82,510 (790,]99) Fund balances, beginning of year 1,497,182 1,357,374 774,363 2,290,903 5,919,822 Fund balances, end of year $ 1,400,795 541,389 814,026 2,373,413 5,129,623 See accompanying notes to financial statements. I _ SEOPWICRK 5 • • is EXHIBIT A ACCOUNT CODE: 689001 SEOPW TIF Transfer from Account Code No. 689001.550108.6.996 — entitled "Budget Reserve," the total available amount of $1,014,562.00* to: Account Code No. Amount 680001.550108.6.220 — entitled "Professional Services — Appraisals" $ 10,000.00 689001.550108.6.270 — entitled "Professional Services — Other" $ 254,562.00 689001.550108.6.860 — entitled "Construction in Progress" $ 750,000.00 Total: $1,014,562.00 *NOTE: Total amount currently shown in the reserve account is actually $1,557,734.00, but $543,172.00 of that amount is already designated to the General Operating Account since the beginning of the fiscal year, but has yet to be loaded by the City of Miami Budget Department. Therefore, the real available balance is $1,014,562.00. SEOI?W/CIS' 93 - 59 • COPY SEOPW/.CR.A ITEM 7A 02 - 146 RESOLUTION NO. A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("CRA"). ACCEPTING, APPROVING AND ADOPTING THE PROPOSED OPERATING AND TAX INCREMENT FINANCING BUDGETS FOR THE CRA FOR FISCAL YEAR ENDING SEPTEMBER 30, 2003 AND AUTHORIZING THE EXECUTIVE DIRECTOR TO TRANSMIT COPIES OF THE BUDGETS TO THE CITY OF MIAMI AND MIAMI-DADE COUNTY. WHEREAS, the City of Miami approved and adopted the Southeast Overtown/Park West Community Redevelopment Plan pursuant to Resolution Nos. 82-755 and 85-1247; and WHEREAS, the CRA is responsible for carrying out community redevelopment activities and projects in the Southeast Overtown/Park West Redevelopment Area established pursuant to the Redevelopment Plan; and WHEREAS, the "Interlocal Agreement between the City of Miami and the Community Redevelopment Agency, dated March 13, 2000, Section 6.1(b), requires the CRA to provide copies of its budgets to the City of Miami and Miami -Dade County. • • 0 • NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE SOUTHEAST OZTERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF MIAMI, FLORIDA: 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 Board of Directors hereby accepts, - approves and adopts the proposed Operating and Tax Increment Financing Budgets for the CRA for fiscal year ending September 30, 2003, and, further, authorizes the Executive Director to transmit copies of the budgets to the City of Miami and Miami - Dade County. Section 3. This resolution shall be effective immediately upon its adoption. S Page 2 of 3 SEOPW/CIA 03- 59 • • • PASSED AND ADOPTED this 26th day of September, 2002. ATTEST: PRISCILLA A. THOMPSON CITY CLERK APPROVED AS AND CORRFCf �TORNEY /CRA R-02-146:ELF ARTHUR E. TEELE, JR., CHAIRMAN Page 3 of 3 7,, _ .,.L: � .1��r� ns;� L 77 M. SE®PW / CRA 03- 59 CITY OF MIAM1 COMMUNITY REDEVELOPMENT AGENCY OPERATING BUDGET FOR FISCAL YEAR 2002-2003 Budgeted Funding Source Description Amount General Fund SEOPW OMNI Salaries & Benefits: Classified 326,726 126,726 Unclassified 494,336 494,336 - _ Allowances 63,600 31,800 31,800 Severance Pay 6,211 - 3,106 3,106 Social Security Contribution 52,852 45,626 3,613 3,613 Group Health Insurance 45,000 22,500 22,500 Workers Compensation 1,553 776 776 Unemployment Compensation 6,211 3,105 3,105 Tuition Reimbursement 4,000 2,000 2,000 Employee Parking 14,625 - 7,313 7,313 815,113 666,688 74,213 74,213 Administrative Expenses: Clerk of the Board 49,000 24,500 24,500 General Counsel (with support) 160,646 - 80,323 80,323 Special Counsel (incl. litigation) 110,000 55,000 55,000 Professional Services 125,000 62,500 62,500 ? Other Co 0tractual 25,000 12,500 12,500 Accounting (non audit related) 35,000: `. 17,500 17,500 Accounting & Audting Svcs. 40,000 20,000 20,000 Insurance -Liability 25,000 12,500 12,500 Rent - Buildings 99,150 - 49,575 49,575 Communication Expenses 15,000 7,500 7,500 Visitors Parking 5,375 2,688 2,688 i Travel Training /Per Diem 15,000 7,500 7,500 704,171 352,085 352,085 Operating Expenses: Printing/Binding 45,000 22,500 22,500 Advertising 107,100 53,550 53,550 Equipment Rental/Leases (Operating) 35,000 17,500 17,500 Equipment Rentalh eases (Capital) _ _ Postage 1,000 500 500 Delivery Services 8,500 4,250 4,250 Repairs/Maintenance 5,400 2,700 2,700 Office Supplies 9,500 4,250 4,250 Food/Bcverages 5,000 2,500 2,500 Miscellaneous supplies 5,000 2,500 2,500 Page I of 2 SE®PW / CRA 3- 59 CITY OF MIAMI COMMUNITY REDEV�MENT AGENCY OPERATING BURG FOR FISCAL YEAR 2002-202 Budgeted Funding Source Amount General Fuod SEOPW Q 50,000 - 25,000 25,000 10,000 5,000 5,000 280,500 - 140,250 140,250 1,799,784 666,688 566,548 566,548 �u Page 2 of 2 ,E®PW i CRA 59 Revenues 026006 749 Gain/Loss Investments 055006 001 Taxes Real current 070 Rental Properties 094 Interest on investment 264 Property Sale 310 Contribution from Other -County 749 Gain/loss on investments 990 Other -non operating Appropriated Fund Balance Total revenues (Z� w Expenditures b010 Salaries unclassified 100 Social Security Contrib. n 220 Professional svc. - appriasal CJt 230 Professional svc. - Architectual.(Planning) w 240 Professional svc. -Engineering 250 Professional svc. - legal 270 Professional svc. - other 280 Professional svc. - accounting 87 Advertising 89 Special Svc. - miscellaneous CRA'W03 Proposed Budget SEOPW TIF Additional Description City portion of the tax increment Block 56- Vectour site Interest on existing cash reserces Sales of the Park Place leasehold interest County poriton of the tax increment Gain/loss on investment of cash reserves Other non specified CRA employees & City Unclassified employees Social Security @a 7.65% Appraisal Services Planning & Architectural services Engineering services Outside legal services Services not otherwise specified Accounting and Auditing services Required public notices & adveMsing City Clerk costs (outsourced) Page 1 of 2 FY'02 Amended FY'03 Proposed 897,741 1,587,461 52,880 81,456 60,000 2,213,500 548,451 1,014,952 12,000 287 500,000 4,306,315 2,662,413 4,306,315 2,662,413 5,000 10,000 ' 665,000 ' 100,000 " 85,000 884,935 80,000 40,000 5,000 0 • CRA W03 Proposed Budget SEOPW 77F 340 Other contractural Svcs. xxx Fannie Mae loan a xxx application fee \\ Fannie Mae - collateral 602 Other non professional services �"02 'mended Fl"03 act Interest expense (restricted cash) 610 150,000 osed Rent of equipment qui ment - Outside 690 Promotional CRA�s portion of debt service 6,000 75,00(? activities 810 Land Operating lease a prat. For 1990 Bonds agreement for _ 840 Equipment 860 Construction Promotional activities related t equipment pro�ms/pr°Je� Property acquisition 57,675 67,000 in 940 Other ran progress g expenses Nam"' equipment purchses _ and aids xxx Contribution 945 to Commercial Revitalization Loans talization Construction expenses (bricks ( cks & Authorized mortar) grants to 2,420,000 1,500 25,000 Pr0•f xxx Contribution community buisnessi J Res 00 7q for 5420,p00 in groups etc. 600,0Gp to C 996 gud RA Operations Budget Reserve a Authorized loans to gran to 3 businesses community business/ CRA 51,000 3��879 Total expenditures Operations groups etc. - 165,000 Budgeted rese reserves,from tax increment 55,000 1501000 Revenue minus expenditures proceeds 30,205 543,172 Notation: 4_ 3=� 390.362 Although not reflected as 2,662,413 ` an appropriation,�the The CRA anticipates minimum ca A will at a later date appropriate0 Land acquisition rryovers from the F1^02 0 Budget Reserve in the amount f$2 146,1the return of an advance to 46,137 FDOT in the amount of 3500,000 2,060,932 85,205 2.146,137 ,/ Revenues 055012 Fund Balance Contribution SEOPW TIF 44Y Parking Rental 094 Interest on Investments, 749 Gain/Loss on investments Total revenues 6venditures 550013 - T.C.O.TA. (= EA550015 -Commercial Revitalization Program Ib 940 Grants in aid 996 Budget reserve Total expenditures C3� Revenue minus expenditures CRA' r Y'03 Proposed Budget (SEOPVN) Project and Programs FY'02 FVM Amended Proposed Additional Description 329,000 150,000 375,000 6,000 - 2,000 375,000 487.000 375,000 375,000 Authorized grants to community buisness/groups etc Budgeted reserves from tax increment proceeds 420,000 1 67,000 487.000 1 Pursuant SEOPW R-0O.7I adopted June 2000 far Commerdal Revitallzatian grants in the amount of f420,OM Additional funding may be required - reservations against advance to FDOT of Ssoo.000 Wlli be msy to provide any additional funding requirements • • CITY OF MIAMI COMMUNITY REDEVELOPMENT AGENCY Cemmenity Development Funding Commitment Project - 799126 1`Y'01 FY101 Bnditet Aetnal FY'02 FY'03 Funding Soaree YTD Proieeted Pro ected Revenues US Dept of HUD (28th Year) 379,000 US Dept of HUD (27th Year) 270,651 _ 379,900 379,900 Prior year revenue approp. Micro Loan 1,000,000 546,584 250,000 102,046 HOPWA 500,000 - 1,000,000 500,000 471,770 US Dept of HUD/CLUC ,000'0 (00,000 500,000 - Prior year revenue approp./CLUC 200 M0 100,000 100,000 Job Creation (27th Year) 3�,� 400,OM lob Creation (prior years) - - CDBG Program Income 500.000 - HOME - 524,000 500,000- CDBG-Year 1(Unfimded - FY'00) - 3,000,000 786,322 1,311,610 CDBG - Year 2 (Unfunded - FY 01) 5,000,000 3,000,000 t cm txmm;tnted in Fy pp 5 i�,,, 5 Runic" (cin• ordi mten t rn6) CDBG -Year 3 (Unfunded - FY'02) - _ 5,000,000 5,000,000 5,000,000 I Cin commitme t a revo 5 �� 5 nonion (Cin• Ordinaiee t 1736) CDBG .Year 3 (Unfunded . FY'03) - ` 5,000,000 5,000,000 1 Cin• or mmitment in rem 5 tears 5 million (Citt• Ordinance 11136) US Dept of HUD/Capital Improvement Total _ _ 1ppp Opp 996,426 - 5'000'000 1 Citr `011n11tmoM "proo 5 ywn s million (CtM Ordinanee 11736) - 16 49,770 .2 1,111,661 :... 1,800,000 18,116,222 23,978,595 3213,269 2 combmedbdaxeots3.0M Pnaty buamm tarrtdor+ f2.oM (cityReso 98-59z) reral net of CDBG conrnrilmenrs 5,97d,39S w The budget presented above requires final veriftcaiton by the Cily'9 Community Development Department ' b I The CRA has requested the Department orCommtnity D_daprr to Pmvide finding ! llelanee based upon obtaining a section 108 Loan tip to at nserted tor:fid Aeeare tatatnen of "M SMW Met' ergeat apptep,na cr a preened beJotr: appropriate amount . Portion expended from original $2.0 of HUD appropriation 548,584 C3� CPA expended from S3.0M 3rd Avenue Corridor 1,624,924 Balance of S3.OM & $2.0M reallocated,to CIP 3,426,592 S 32I3,311.31 expended for 5,000,000 paitse l of undergroterd placement -balance reflected above a- Lii AGENCY NAME: Commuunity Redevelopment Agency PROGRAM: All TO 28TH YEAR riH - 0ginal Budget 4 -- Total Amount Drawn Balance of Project PROJECT TITLE CRA- HOME PRIOR YEAR 786,966.00 786,966.00 CRA- HOME 28TH YEAR 262,322.00. 262,322.00 CRA- HOME 27TH YEAR 262,322.00.-::"--;"- 262,322.00 OPERATING - 28TH YEAR 379,900.00 379,900.00 OPERATING - 2 7TH YEAR 379,000.00 276,954.03 102,045.97 OPERATING -26TH YEAR 379 000.00 379,000.00 OPERATING - 25TH YEAR 379-,000.00 379,000.00 CRA - CLUC90 PRIOR YEAR 300,000.00,...-:` 300,000.00 CRA - CLUC90 28TH YEAR 1009000.00"..-., 100,000.00 CRA - CLUC90 2 7TH YEAR 100,000.00-. 100,000.00 OVERTOWN OPTIMIST CLUB 94,847.00 2,515.00 92,332.00 MICRO LOAN - PRIOR YEAR 471,770.00.;."".-.'i 471,770.00 CRA - Southeast Overtown Park 548,583.61 548,583.61 CRA-HISTORIC OVERTOWN 1,024,824.49 1,024,824.49 Capital lmrpovement 3,426,591.90 213,323.32 32 3,213,268.58 TOTALS $8,895,127.00 $2,824,20000.45 $6,070,926.55 0 10