HomeMy WebLinkAboutCRA-R-12-0011 02-27-12 Cover MemoSEOPW Board of Commissioners Meeting
February 27, 2012
SOUTHEAST OVERTOWN/PARK WEST
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Michelle Spence -Jones Date: February 17, 2012 File: 12-00169
and Members of the CRA Board
'7,i / Subject: Resolution De -Allocating Unused Funds
From: Pieter A. Bockweg ,j/ // References:
Executive Director
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 $146,830 of unused
funds from these previously authorized projects, as outlined in Attachment "A," and allocating same to affordable
housing.
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.