HomeMy WebLinkAboutCRA-R-16-0041 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 Dire
BACKGROUND:
Date: August 25th, 2016
Subject: Omni CRA setting a cap of twenty percent
(20%) of the 2016-2017 fiscal year general
operating and tax increment fund budget to
be expended towards any Administrative
costs.
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 capping of up to 20% of the Tax Increment Funds for the Omni CRA
Administrative costs.
JUSTIFICATION:
The tax increment funds ("TIF") received by the CRA should be used primarily for removal of slum
and blight, rehabilitation of buildings consistent with the Redevelopment Plan. And one of the findings
of the Grand Jury was that a community redevelopment agency (CRA) in Miami -Dade County other
than the Omni CRA spent up to eighty percent (80%) of its annual TIF funds on salaries, benefits, and
other administrative costs; and the Grand Jury recommended in its final report that a cap be imposed
on expenditures for administrative costs.
Although the CRA's administrative costs are reasonable and are not abusive as characterized by the
Grand Jury, the Board of Commissioners of the CRA recognizes the need to focus the majority of its
limited funding to those projects that meet the primary purpose of the CRA.
FUNDING:
This item does not impact the Omni CRA's funding source.