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HomeMy WebLinkAboutMemo - SEOPW CRACity of Miami Board of Commissioners Meeting April 9, 2015 SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY INTEROFFICE MEMORANDUM To: City of Miami Commissioners Date: March 4, 2015 File: From: Clarence E. Woods, III " " Executive Director Subject: SEOPW CRA Amended Tax Increment Fund Budget for FY 2015. References: Enclosures: Legislation BACKGROUND: It is recommended that the Board of Commissioners of the City of Miami approve the attached Resolution accepting and adopting the amended budget of the Southeast Overtown/Park West Community Redevelopment Agency for the fiscal year commencing October 1, 2014 and further amending the Debt Service Fund appropriation in the Adopted Budget of $8,909,873 to $7,386,180 for fiscal year ending September 30, 2015. JUSTIFICATION: The CRA is required to annually prepare a proposed budget and transmit said budget to the City of Miami and Miami -Dade County pursuant to Article VI, paragraph 6.1(b), of the Interlocal Cooperation Agreement, dated March 1, 2000, between the City of Miami, the Southeast Overtown/Park West Community Redevelopment Agency, and the Omni Redevelopment District Community Redevelopment Agency, as revised and amended. This resolution fulfills that requirement.