HomeMy WebLinkAboutMCRA-R-25-0001 MemorandumMidtown Board of Commissioners Meeting
September 13, 2025
MIDTOWN COMMUNITY REDEVELOPMENT DISTRICT
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Christine King
and Members of the CRA Board
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From: Erica T. Paschal Darling
Assistant City Manager/CFO
Date: August 27, 2025 File: 18028
Subject: Midtown CRA's Proposed Budget for
FY '25-'26
Enclosures: 18028 Exhibit A
BACKGROUND:
It is recommended that the Board of Commissioners of the Midtown Community Redevelopment
Agency approve the attached Resolution adopting the proposed Midtown CRA Tax Increment
Fund Budget for the Fiscal Year commencing October 1, 2025, and ending September 30,
2026, and directing the Executive Director to transmit copies of the Budget to the City of Miami
and Miami -Dade County.
JUSTIFICATION:
The Midtown CRA is required to annually prepare a proposed budget and transmit the budget to
the City of Miami and Miami -Dade County. This resolution fulfills that requirement.
City of Miami
Legislation
Midtown CRA Resolution
MCRA-R-25-0001
Midtown CRA
1401 N. Miami Avenue
Miami, FL 33136
www.miamicra.com
File Number: 18028 Final Action Date: 9/13/2025
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE MIDTOWN
COMMUNITY REDEVELOPMENT AGENCY ("CRA"), WITH ATTACHMENT(S),
ACCEPTING AND APPROVING THE PROPOSED 2026 BUDGET OF THE CRA,
ATTACHED AND INCORPORATED AS EXHIBIT "A", IN THE AMOUNT OF
$15,776,289.00 FOR THE FISCAL YEAR COMMENCING OCTOBER 1, 2025 AND
ENDING SEPTEMBER 30, 2026; DIRECTING THE EXECUTIVE DIRECTOR TO
TRANSMIT A COPY OF THE BUDGET TO THE CITY OF MIAMI AND MIAMI-DADE
COUNTY.
WHEREAS, the Midtown Community Redevelopment Agency ("CRA") is responsible for
carrying out community redevelopment activities and projects within its Redevelopment Area;
and
WHEREAS, as a prerequisite to carrying out the redevelopment activities for Fiscal Year
2025-2026, the Board of Commissioners of the CRA must approve the proposed Tax Increment
budget ("Budget") for the fiscal year commencing October 1, 2025, ending September 30, 2026
("Fiscal Year"); and
WHEREAS, the Budget is in the total amount of Fifteen Million, Seven Hundred Seventy -
Six Thousand, Two Hundred Eighty -Nine Dollars and Zero Cents ($15,776,289.00) for the
Fiscal Year; and
WHEREAS, pursuant to the 2005 Interlocal Agreement, as amended, which the CRA is
a party to, a copy of each budget is to be transmitted to the City of Miami and Miami -Dade
County;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF
THE MIDTOWN COMMUNITY REDEVELOPMENT AGENCY:
Section 1. The recitals and findings contained in the Preamble to this Resolution are
approved by reference and incorporated as if fully set forth in this Section.
Section 2. The Budget for the Fiscal Year commencing October 1, 2025, and ending
September 30, 2026, attached and incorporated herein as Exhibit "A", is hereby approved and
adopted.
Section 3. The Executive Director is directed to transmit a copy of the Budget to the City
of Miami and Miami -Dade County.
Section 4. This Resolution shall become effective immediately upon its adoption
APPROVED AS TO FORM AND CORRECTNESS:
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GEORGE K. WYSONG III, GENERAL COUNSEL