HomeMy WebLinkAboutCRA-R-10-0072 Cover Memo 09-20-2010Omni Board of Commissioners Meeting
September 20, 2010
OMNI REDEVELOPMENT DISTRICT
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Marc D. Sarnoff
and Members of the CRA Board
From: Pieter Bockweg
Executive Director
Date: September 10, 2010 File: 10-01076
Subject: Resolution De -Allocating Unused Funds.
References:
Enclosures: 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 de -allocating unused funds.
There are, currently, over $200,000 in funds allocated from as early as 2004 that remain unused.
JUSTIFICATION:
A resolution passed by the Board of Commissioners authorizing funding immediately encumbers the entire
amount authorized. Where balances remain, a subsequent resolution is required to de -allocate those funds
returning the remaining balances to the CRA's unrestricted fund balance.