HomeMy WebLinkAboutCRA-R-16-0040 Cover MemoOmni Board of Commissioners Meeting
September 13th, 2016
OMNI REDEVELOPMENT DISTRICT
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
Board Chair Ken Russell
and Members of the CRA Board
From: Jason Walker
Executive Director
BACKGROUND:
Date. August 30th, 2016
Subje; Omni CRA designating ten percent (10%)
of the 2016-2017 fiscal year general operating
and tax increment fund budget to be
expended towards and benefit of Low and
Moderate Income Affordable Housing.
References:
Enclosure Supporting Documentation
It is recommended that the Board of Commissioners of the OMNI Redevelopment District Community
Redevelopment Agency ("CRA") approve and adopt the attached Resolution authorizing the Omni
CRA Executive Director to implement the findings of the Grand Jury Report for Miami -Dade County
recommending the tax increment funds ("TIF") received by the CRA should be used primarily for
removal of slum and blight and assisting with affordable housing for families and individuals of low or
moderate income; and
The Grand Jury recommended in its final report that a minimum of ten percent (10%) of annual TIF
revenue be set aside to go towards and benefit low and moderate income affordable housing.
] USTIFICATION :
The tax increment funds ("TIF") received by the CRA should be used primarily for removal of shim
and blight, rehabilitation of buildings consistent with the CRA Redevelopment Plan; and
one of the findings of the Grand Jury was that a community redevelopment agency (CRA) in Miami -
Dade County set aside up to ten percent (10%) of the "TIF" towards low and moderate affordable
housing.
FUNDING:
This item does not impact the Omni CRA's funding source.