HomeMy WebLinkAboutMCRA-R-10-0002 Cover Memo 3-11-2010Midtown Board of Commissioners Meeting
March 11, 2010
MIDTOWN
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Francis Suarez Date: March 1, 2010 File: 10-00306
and Members of the CRA Board
Subject: Resolution Approving the CRA's
Amended Budgets for FY 2010
From: James H. VilIacort %`' References:
Executive Director'
Enclosures: Supporting Documentation; Legislation
BACKGROUND:
It is recommended that the Board of Commissioners of the Midtown Community Redevelopment Agency
("CRA") adopt the attached Resolution approving and adopting the amended Tax Increment Fund and General
Operating Budgets of the CRA for the fiscal year commencing October 1, 2009 and ending September 30, 2010.
JUSTIFICATION:
On August 6, 2009, the CRA's Board of Commissioners, by Resolution No. MCRA-R-09-0001, approved and
adopted the Tax Increment Fund and General Operating Budgets for FY 2010 based on estimates of tax
increment funds to be received on January 1, 2010 and the estimated timing of capital project expenditures.
These budgets have been amended to reflect: 1) the amount of tax increment funds actually received on
January 1, 2010, 2) the actual timing of project expenditures, 3) salary savings, and 4) parking revenue.
Summaries of the changes reflected in the amended budgets are attached.