HomeMy WebLinkAboutCRA-R-07-0011 Cover Memo•
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SEOPW & Omni Boards of Commissioners Meeting
March 26, 2007
Item No. 2
SOUTHEAST OVERTOWN/PARK WEST
AND OMNI
COMMUNITY REDEVELOPMENT AGENCIES
INTER -OFFICE MEMORANDUM
To: Board Chair Michelle Spence -Jones
and Members of the CRA Board
From: James H. VillacortaReferences:
Date:
March 19, 2007 File: 07-00363
Subject: Amended SEOPW, Omni and
General Operating Fund
Budgets for Fiscal Year 2007
Executive Director
Enclosures: Supporting Documentation and
Legislation
BACKGROUND:
The attached Joint Resolution approves and adopts the amended Tax Increment Fund Budgets of the
Southeast Overtown/Park West and Omni Redevelopment District Community Redevelopment Agencies and
their General Operating Fund Budget for Fiscal Year 2007.
JUSTIFICATION:
The CRAs' Boards of Commissioners by Resolution Nos. CRA-R-06-0024 and CRA-R-06-0025, both approved
and adopted on July 31, 2006, adopted Tax Increment and General Operating Budgets for FY 2007 based on
estimates of tax increment funds to be received on January 1, 2007 and estimated timing of capital project
expenditures. This resolution adopts amended budgets to correctly reflect the amount of tax increment funds
actually received, the actual timing of project expenditures, and salary savings. Summaries of the changes
reflected in the amended budgets are attached.