HomeMy WebLinkAboutCRA-R-10-0080City of Miami
Legislation
CRA Resolution: CRA-R-10-0080
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 10-01163 Final Action Date: 9/27/2010
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY
AUTHORIZING A TRANSFER, IN AN AMOUNT NOT TO EXCEED $5,271,317, TO
THE CITY OF MIAMI, FOR THE REPAYMENT OF ADMINISTRATIVE OPERATING
SUBSIDIES GIVEN TO THE CRA DURING THE PERIOD BEGINNING FISCAL
YEAR 2000 AND ENDING FISCAL YEAR 2005; ALLOCATING FUNDING FROM
SEOPW TAX INCREMENT FUND, "GENERAL OPERATING," ACCOUNT CODE NO.
10050.920101.891000.0000.00000.
WHEREAS, the Southeast Overtown/Park West Community Redevelopment Agency ("CRA")
is responsible for carrying out community redevelopment activities and projects within its
Redevelopment Area in accordance with its approved Redevelopment Plan; and
WHEREAS, between Fiscal Year 2000 and Fiscal Year 2005, the City provided economic
support to the CRA to enable the CRA to operate since tax increment funds generated within the
Redevelopment Area where not sufficient to enable the CRA to implement the Redevelopment Plan;
and
WHEREAS, the funds advanced to the CRA from the City during Fiscal Year 2000 through
Fiscal Year 2005 totals $5,271,317; and
WHEREAS, the City has requested the CRA reimburse the City for all economic support
provided to the CRA from the City Fiscal Year 2000 through Fiscal Year 2005; and
WHEREAS, the CRA acknowledges that the City has provided the CRA with valuable
economic support since Fiscal Year 2000 through Fiscal Year 2005; and
WHEREAS, general counsel to the CRA has opined that the use of tax increment funds to
reimburse the City $5,271,317 for funds advanced to the CRA for operations is a permissible
expenditure of tax increment funds.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE
SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY OF THE CITY
OF MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted
by reference and incorporated herein as if fully set forth in this Section.
Section 2. The transfer of funds, in an amount not to exceed $5,271,317, to the City of Miami,
is authorized.
Section 3. Funds to be allocated from SEOPW Tax Increment Fund, "General Operating,"
City of Miami Page 1 of 2 File Id: 10-01163 (Version: 2) Printed On: 12/5/2022
File Number: 10-01163 Enactment Number: CRA-R-10-0080
Account Code No. 10050.920101.891000.0000.00000.
Section 4. This resolution shall become effective immediately upon its adoption.
City of Miami Page 2 of 2 File Id: 10-01163 (Version: 2) Printed On: 12/5/2022