HomeMy WebLinkAboutCRA-R-12-0041 Cover MemoSEOPW Board of Commissioners Meeting
June 25, 2012
SOUTHEAST OVERTOWN/PARK WEST
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Michelle Spence -Jones Date: June 15, 2012 File: 12-00304
and Members of the CRA Board
Subject: Resolution authorizing the reimbursement of
Fiscal Year 2011 TIF revenues to the
Children's Trust.
From: Clarence E. Woods, III Alt References:
Executive Director
Enclosures: Supporting Documentation; 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 authorizing the reimbursement of
Fiscal Year 2011 tax increment revenues collected by the CRA, in an amount not to exceed $465,702.00, to the
Children's Trust, Miami -Dade County, an independent special taxing district ("Children's Trust").
The Children's Trust, approved by the voters of Miami -Dade County on September 10, 2002, levies a half -mil
tax on non-exempt real property for the purpose of funding improvements to children's health, development, and
safety. Section 163.387, Florida Statutes, requires taxing authorities to deposit into the redevelopment trust
fund, increment income generated within the community redevelopment area.
The Board of County Commissioners of Miami -Dade County, by Ordinance No. 03-210, adopted on October 7,
2003, requires, as a condition precedent to the County's consideration of any matter concerning the CRA, that
municipalities, in their sole discretion, exempt the Children's Trust from the requirements of Section 163.387,
Florida Statutes.
The Board of Commissioners, by Resolution No. CRA-R-06-0008, passed and adopted on March 9, 2006,
authorized the execution of an Interlocal Agreement which provided for the payment to the Children's Trust of
those increment revenues generated within the redevelopment area by the Children's Trust half -mil levy,
provided that said revenues are not needed for CRA debts or other obligations.
Pursuant to the Interlocal Agreement, the Children's Trust is to use those reimbursed increment revenues for
program and services to children and families within the redevelopment area.
JUSTIFICATION:
Section 2 of the Interlocal Agreement states that the CRA shall "... remit to the [Children's Trust] ... all of the
[Children's Trust] Revenues that are not needed for debt service on, or other obligations relating to, existing
debts of the [CRA] ...."
This Resolution carries out these objectives.
FUNDING:
Funds are to be allocated from SEOPW Tax Increment Fund, "Other Current Charges and Obligations," Account
Code No. 10050.920101.549000.0000.00000.