HomeMy WebLinkAboutMCRA-R-07-0001 MemoMidtown Board of Commissioners Meeting
July 30, 2007
Item # 1
MIDTOWN
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Michelle Spence -Jones Date: July 20, 2007 File: 07-00931
and Members of the CRA Board
From: James H. Villacort
Executive Director
Subject: Midtown CRA Proposed General
Operating & Tax Increment Fund
Budget for Fiscal Year 2008
References:
Enclosures: Legislation
BACKGROUND:
It is recommended that the Board of Commissioners for the Midtown Community Redevelopment Agency
("Midtown CRA") approve and adopt the attached Resolution adopting the proposed Midtown CRA General
Operating and Tax Increment Fund Budgets for the Fiscal Year ending September 30, 2008 (FY '08) and
directing the Executive Director to transmit copies of the Budgets to the City of Miami and Miami -Dade County.
Please note that projected Tax Increment Fund (TIF) revenues are presented as provided by the City of Miami's
Department of Strategic Planning, Budgeting and Performance and will be adjusted to the actual amounts at the
time of receipt.
JUSTIFICATION:
The Midtown CRA is required to annually prepare a proposed budget and transmit the budget to the City of
Miami and Miami -Dade County. Due to the state mandated rollback of Florida's property tax rates, reliable
projections of the tax increment revenues for 2008 were unavailable in time for June meeting.
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