HomeMy WebLinkAboutCRA-R-12-0059 07-26-2012 Cover MemoOmni Board of Commissioners Meeting
July 26, 2012
OMNI REDEVELOPMENT DISTRICT
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Marc D. Sarnoff
and Members of the CRA Board
From: Pieter A. Bockweg
Executive Director
Date: July 20, 2012 File: 12-00828
Subject: Resolution de -allocating funds and allocating
same to the Port Tunnel Loan and the Miami
Entertainment Complex.
References:
Enclosures: Attachment; 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, with attachment(s) de -allocating
$763,799 of carryover funds, as outlined in Attachment "A," and allocating same to the Port Tunnel Loan and the
Miami Entertainment Complex.
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,
and thereby allocate same funds to the CRA's Port Tunnel obligation and the Miami Entertainment Complex.
This Resolution carries out these objectives.