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SOUTHEAST OVERTOWN/PARK WEST
AND OMNI
COMMUNITY REDEVELOPMENT AGENCIES
INTER -OFFICE MEMORANDUM
SEOPW & Omni Board of Directors Meeting
October 27, 2005
Item # 12
To: Chairman Johnny L. Winton Date: 10/21/05 File:05-01025
and Members of the CRA Board
Subject: SEOPW CRA Amended FY'06
Budget Proposal
From: Frank K. Rollason References:
Executive Director
Enclosures: Supporting Documentation;
Legislation
RECOMMENDATION:
It is recommended that the Board of Directors of the Southeast Overtown/Park West 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
SEOPW CRA and the Omni Redevelopment District CRA.
JUSTIFICATION:
On June 23, 2005 the SEOPW CRA Board of Directors approved the Agency's Budget for Fiscal
Year '06 (Resolution No. CRA-R-05-0026) 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 SEOPW and Omni 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