HomeMy WebLinkAboutCRA-R-10-0010 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: 10-00301
and Members of the CRA Board
Subject: Resolution Authorizing De -allocation of
Remaining Balances
From: James H. Villacort�`J References:
Executive Directo
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 the de -allocation of
$1,016,277, 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's 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.