HomeMy WebLinkAboutCRA-R-06-0017 Cover MemoSEOPW & Omni Board of Commissioners Meeting
May 11, 2006
Item # 1
SOUTHEAST OVERTOWN/PARK WEST
AND OMNI
COMMUNITY REDEVELOPMENT AGENCIES
INTER -OFFICE MEMORANDUM
To: Chairman Johnny L. Winton
and Members of the CRA Board
From: Frank K. Rollason
Executive Director
RECOMMENDATION:
Date: May 02, 2006 06-00681
Subject: Amendment to CRA Resolution No. R-05-0049
Increasing Funding for Overtown Small
Businesses Grant Initiative
References:
Enclosures; Supporting Documentation;
Legislation
It is recommended that the Board of Commissioners for the Southeast OvertownlPark West Community
Redevelopment Agency (SEOPW CRA) approve and adopt the attached Resolution Amending CRA Resolution
No. R-05-0049 (copy attached) increasing the amount of available funding by $50,000.00 from $200,000.00 to
$250,000.00.
JUSTIFICATION:
Since the inception of this program in November of 2005 through April 25, 2006, grants totaling an amount of
$144,782.71 have been approved by the Executive Director, leaving an available balance of $55,217.29 (see
attached Grant Summary). With the advent of the Tools For Change Technical Assistance Program, it is
anticipated that additional grant applications for build -out and capital equipment purchases will be forthcoming
from new and relocating businesses within the SEOPW CRA Area. In anticipation of the increase in applicants,
it is recommended that the amount of available grant funding be increased by $50,000.00.
FUNDING SOURCE: $50,000.00 from SEOPW TIF Account No. 689001.550108.6.940 entitled Other Grants
and Aids
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