HomeMy WebLinkAboutCRA-R-05-0041 Cover Memo•
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SEOPW & Omni Board of Directors Meeting
October 27, 2005
Item # 11
SOUTHEAST OVERTOWN/PARK WEST
AND OMNI
COMMUNITY REDEVELOPMENT AGENCIES
INTER -OFFICE MEMORANDUM
To: Chairman Johnny L. Winton
and Members of the CRA Board
Date: 10/21/05 File: 05-01024
Subject: Omni CRA Amended FY'06
Budget Proposal
From: Fr nr( K. Rollason References:
Executive Director
Enclosures: Supporting Documentation;
Legislation
RECOMMENDATION:
It is recommended that the Board of Directors for the Omni Redevelopment District Community
Redevelopment Agency (CRA) approve and adopt the attached Resolution amending the FY '06
Budget approved by the Board on June 23, 2005 and amended by the City Commission on
September 8, 2005, reflecting the elimination of the annual General Fund contribution from the
City of Miami as required in the Inter -Local Agreement between the City of Miami and both the
Omni Redevelopment District CRA and the Southeast Overtown/Park West CRA.
JUSTIFICATION:
On June 23, 2005, the Omni CRA Board of Directors approved the Agency's Budget for Fiscal
Year '06 (Resolution No. CRA-R-05-0025) which included a portion of the annual General Fund
contribution by the City of Miami in the amount of $659,388.00 as required by the current Inter -
Local Agreement between the City of Miami and both the Omni and SEOPW CRAs. At the City
Commission Budget Hearing held September 8, 2005, the Commission took action to cease this
annual contribution effective with the FY '06 Budget cycle. Therefore, it is necessary to amend
the Board -Approved Budget to reflect the removal of this contribution. Attached to the proposed
Resolution is the proposed Amended Budget for FY'06 reflecting the necessary adjustments as a
result of the action taken by the City Commission.
FKR/eh