HomeMy WebLinkAboutCRA-R-08-0015 Cover Memo•
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SEOPW & Omni Boards of Commissioners Meeting
March 31, 2008
Item # 2
SOUTHEAST OVERTOWN/PARK WEST
AND OMNI
COMMUNITY REDEVELOPMENT AGENCIES
INTER•.OFFICE MEMORANDUM
Board Chair Michelle Spence -Jones
and Members of the CRA Board
Date. March 21, 2008 08-00197
Subject: Approving CRAB' Amended
Budgets for FY 2008
James H. Villacorta References
Executive Director'
Enclosurz Supporting Documentation;
Legislation
BACKGROUND:
The attached Joint Resolution approves and adopts the amended Tax Increment Fund and General Operating
budgets of the Southeast Overtown/Park West and Omni Redevelopment District Community Redevelopment
Agencies ("CRAs') for the fiscal year commencing October 1, 2007 and ending September 30, 2008.
JUSTIFICATION:
On July 30, 2007, the CRAs' Boards of Commissioners, by Resolution Nos. CRA-R-07-0024 and CRA-R-07-
0025, approved and adopted the Tax Increment Fund and General Operating budgets for FY 2008 based on
estimates of tax increment funds to be received on January 1, 2008 and estimated timing for capital project
expenditures. These budgets have been amended to reflect the amount of tax increment funds actually received
on January 1, 2008, the actual timing of project expenditures, and salary savings. Summaries of the changes
reflected in the amended budgets are attached.
JHV/pk