HomeMy WebLinkAboutCRA-R-13-0051 Cover MemoSEOPW Board of Commissioners Meeting
July 25, 2013
SOUTHEAST OVERTOWN/PARK WEST
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Michelle Spence -Jones
and Members of the CRA Board
From `'Clarence E. Woods, III
xecutive Director
Date: July 18, 2013 File: 13-00853
Subject: Resolution Dealiocating Remaining Balances.
References:
Enclosures: Legislation
BACKGROUND:
It is recommended that the Board of Commissioners of the Southeast Overtown/ Park West CRA ("CRA") adopt
the attached resolution authorizing the deallocation of funds previously authorized for various projects. These
projects and activities have been completed, and there are remaining balances which could be used to fund
other community redevelopment activities and projects.
JUSTIFICATION:
When the CRA's Board of Commissioners passes a resolution authorizing funding, the funds are immediately
encumbered to the full extent of the amount authorized. In the event there are remaining balances, a resolution
is required to return these funds to the CRA's unrestricted fund balance.