HomeMy WebLinkAboutCRA-R-15-0017 Cover Memo (2)SEOPW Board of Commissioners Meeting
June 11,2015
SOUTHEAST OVERTOWN/PARK WEST
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Keon Hardemon
and Members of the CRA Board
From: Clarence E. Woods, Ill
Executive Director
Date: May 28, 2015 File: 15-00334
Subject: Resolution De -Allocating Unused Funds.
References:
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 $805,410 of unused
funds, as outlined in Attachment "A".
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.