HomeMy WebLinkAboutCRA-R-13-0057 Cover MemoSEOPW Board of Commissioners Meeting
September 30, 2013
SOUTHEAST OVERTOWN/PARK WEST
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Michelle Spence -Jones
and Members of the CRA Board
Date: September 20, 2013 File: 13-01007
Subject: Resolution Ratifying the Expenditure of Funds
for Insurance on the Overtown Shopping
Center and Ward Rooming House
From: Clarence E. Woods, III References:
Executive Director
Enclosures: Supporting Documentation; Legislation
BACKGROUND:
The attached Resolution of the Board of Commissioners of the Southeast Overtown/Park West Community
Redevelopment Agency ("CRA") ratifies the expenditure of funds in the amount of $10,577 for the purchase of
commercial property coverage for the Overtown Shopping Center, 1490 NW 3rd Avenue, Miami, Florida, and the
Ward Rooming House, 249 NW 9th Street, Miami, Florida.
The CRA owns the Overtown Shopping Center, 1490 NW 3'" Avenue, Miami, Florida, and Ward Rooming
House, 249 NW 9th Avenue, Miami, Florida (collectively referred to as the "Properties"). On July 29, 2013, the
CRA expended $10,577 for insurance in order to maintain coverage for the Properties. Said expenditure made
to ensure continuity in coverage.
JUSTIFICATION:
Section 163.370(2)(e)5, Florida Statutes, permits the CRA to insure real and personal property, .. , including the
payment of premiums.
FUNDING:
$10,577 was allocated from SEOPW Tax Increment Fund, entitled "Insurance," Account Code No.
10050.920101.545000.00000.