HomeMy WebLinkAboutCRA-R-08-0047 Cover Memo•
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SOUTHEAST OVERTOWN/PARK WEST
AND OMNI
COMMUNITY REDEVELOPMENT AGENCIES
INTER -OFFICE MEMORANDUM
SEOPW & Omni Boards of Commissioners Meeting
September 3, 2008
Item #11
To: Board Chair Michelle Spence -Jones Date: August 22, 2008 File: 08-00940
and Members of the CRA Board
Subject: Resolution Authorizing Additional Funds For
The Northeast 14th Street Streetscape
Improvements
From: James H. Villacorta. References:
Executive Director
Enclosures: Supporting Documentation;
Legislation
BACKGROUND:
It is recommended that the Board of Commissioners of the Omni Redevelopment District Community
Redevelopment Agency ("CRA") approve and adopt the attached Resolution authorizing additional funds, in an
amount not to exceed $4,500,000, for a total project cost of $6,000,000 for streetscape improvements along
Northeast 14th Street from Northeast 2nd Avenue west to the Florida East Coast Railway (FEC) tracks
(approximately Northwest 1st Avenue).
On December 15, 2005, by Resolution No. CRA-R-05-0052, the Board of Commissioners authorized the
expenditure of funds, in an amount not to exceed $1,500,000, for streetscape improvements along 14th Street.
This amount did not constitute the total project cost, which is currently estimated at $7,500,000. This Resolution
allocates additional funds for the project. When design drawings are finalized, if necessary, the unfunded
balance of $1,500,000 will be allocated in a future resolution.
JUSTIFICATION:
The Redevelopment Plan, at Page 26, Section V.B, paragraph 3, entitled "Capital Improvement Projects"
provides for "[p]ublic infrastructure improvements including, but not limited to, utilities, streets, sidewalks, parks,
landscaping and upgrading of publicly —acquired easements." This resolution accomplishes the objectives of the
Redevelopment Plan by allocating additional funds to the upgrading of 14th Street, a major roadway through the
Redevelopment Area.
FUNDING: $4,500,000.from Omni Tax Increment Fund, entitled "Construction in Progress," Account Code No.
10040.920101.670000.0000.00000.
JHV/pk