HomeMy WebLinkAboutCRA-R-07-0039 Cover Memo•
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SEOPW & Omni Boards of Commissioners Meeting
September 24, 2007
Item # 4
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. Villacort
Executive Director
Date: September 14, 2007 File: 07-01032
Subject: De -allocating Remaining Balances
References:
Enclosures: Legislation
BACKGROUND:
The attached Resolution authorizes the de -allocation of funds previously authorized for various projects. These
projects have been completed, and there are remaining balances which could be used to fund other community
redevelopment activities and projects.
JUSTIFICATION:
When the CRA Board of Commissioners passes a resolution authorizing funding, the funds are immediately
encumbered to the full extent of the amount authorized. In the event there are remaining balances, a resolution
is required to return these funds to the CRA's unrestricted fund balance.
JHV/pk