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HomeMy WebLinkAboutMCRA-R-12-0003 04-26-12 Cover MemoMidtown Board of Commissioners Meeting April 26, 2012 MIDTOWN COMMUNITY REDEVELOPMENT AGENCY INTER -OFFICE MEMORANDUM To: Board Chair Francis Suarez and Members of the CRA Board From: Pieter A. Bockweg Assistant Director Date: April 20, 2012 File: 12-00406 Subject: Amended FY2012 Special Revenue Fund Budget and General Operating Budget References: 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 Second Amended Special Revenue Fund Budget and General Operating Budget for the fiscal year commencing October 1, 2011 and ending September 30, 2012. JUSTIFICATION: The Board of Commissioners, by Resolution No. MCRA-R-11-0006, passed and adopted on July 28, 2011, approved and adopted the Special Revenue Fund Budget and General Operating Budget for Fiscal Year 2012 based on estimates of tax increment funds to be received in January 2012. The budget has been amended to reflect the amount of tax increment funds actually received. The Board of Commissioners, by Resolution No. MCRA-R-12-0001, passed and adopted on February 27, 2012, approved and adopted the Amended Special Revenue Fund Budget and General Operating Budget for Fiscal Year 2012 based the amount of tax increment funds actually received. As requested by Miami Dade County and per the Interlocal Cooperation Agreement, dated June 30, 2005, the Second Amended Special Revenue Fund Budget and General Operating Budget for Fiscal Year 2012, now reflects the funds that were listed under line item "Other Grants and Aids", has been removed and allocated to the line item for "Administration".