HomeMy WebLinkAboutCRA-R-11-0057 11-28-11 Cover MemoSEOPW Board of Commissioners Meeting
November 28, 2011
SOUTHEAST OVERTOWN/PARK WEST
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Michelle Spence -Jones Date: November 21, 2011 File: 11-01106
and Members of the CRA Board
From: Pieter A. Bockweg
Executive Director
Subject: Resolution De -Allocating Unused Funds
References:
Enclosures: Legislation
BACKGROUND:
It is recommended that the Board of Commissioners of the Southeast Overtown/Park West Community
Redevelopment Agency ("CRA") approve and adopt the attached Resolution de -allocating Two Million Three
Hundred Eighty Three Thousand One Hundred Eighty Dollars ($2,383,180) of unused funds, as outlined in
Attachment "A."
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,
thereby returning the remaining balances to the CRA's unrestricted fund balance.
This Resolution carries out these objectives.