HomeMy WebLinkAboutCRA-R-10-0009 Cover Memo 3-11-2010Omni Board of Commissioners Meeting
March 11, 2010
OMNI REDEVELOPMENT DISTRICT
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Marc D. Sarnoff Date: March 1, 2010 File: 10-00302
and Members of the CRA Board
Subject: Resolution Approving the CRA's
Amended Budgets for FY 2010
From: James H. Villacortal9 References:
Executive Director 1J
Enclosures: Supporting Documentation; Legislation
BACKGROUND:
It is recommended that the Board of Commissioners of the Omni Redevelopment District Community
Redevelopment Agency ("CRA") adopt the attached Resolution approving and adopting the amended Tax
Increment Fund and General Operating Budgets of the CRA for the fiscal year commencing October 1, 2009
and ending September 30, 2010.
JUSTIFICATION:
On August 6, 2009, the CRA's Board of Commissioners, by Resolution No. CRA-R-09-0042, approved and
adopted the Tax Increment Fund and General Operating Budgets for FY 2010 based on estimates of tax
increment funds to be received on January 1, 2010 and the estimated timing of capital project expenditures.
These budgets have been amended to reflect: 1) the amount of tax increment funds actually received on
January 1, 2010, 2) the actual timing of project expenditures, 3) salary savings, and 4) parking revenue.
Summaries of the changes reflected in the amended budgets are attached.