BH.12 - Approve Seopw Cra Budget
View full title
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), ACCEPTING AND APPROVING THE ANNUAL GENERAL OPERATING AND TAX INCREMENT FUND BUDGET OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY (“SEOPW CRA”), ATTACHED AND INCORPORATED HEREIN AS EXHIBIT “A,” IN THE TOTAL AMOUNT OF TWO HUNDRED SEVENTY-TWO MILLION, SEVEN HUNDRED SIXTY-THREE THOUSAND, FIVE HUNDRED TWENTY-ONE AND 00/100 DOLLARS ($272,763,521.00), FOR THE FISCAL YEAR COMMENCING OCTOBER 1, 2026, AND ENDING SEPTEMBER 30, 2027.
September 10, 2026
Sponsors
District Five Christine King
Commissioner
Department: Southeast Overtown/Park West CRA
Category: Other
WHEREAS, the Southeast Overtown/Park West Community Redevelopment Agency (“SEOPW CRA”) is responsible for carrying out community redevelopment activities and projects within its Redevelopment Area; and
WHEREAS, pursuant to Interlocal Agreements, as a prerequisite to carrying out Fiscal Year 2026-2027 redevelopment activities, the Board of Commissioners must approve the CRA’s General Operating and Tax Increment Fund Budget (“Budget”) for Fiscal Year commencing October 1, 2026, and ending September 30, 2027; and
WHEREAS, on September 10, 2026, pursuant to Resolution No. CRA-R-26-\_\_\_\_\_, the SEOPW CRA Board of Commissioners approved and adopted the SEOPW CRA’s General Operating and Tax Increment Fund Budget, attached and incorporated herein as Exhibit “A,” for the Fiscal Year commencing October 1, 2026, and ending September 30, 2027 (“FY 2026-2027”) in the total amount of Two Hundred Seventy-Two Million, Seven Hundred Sixty-Three Thousand, Five Hundred Twenty-One and 00/100 Dollars ($272,763,521.00); and
WHEREAS, pursuant to the Interlocal Agreement(s), a copy of the SEOPW CRA’s approved Budget is required to be transmitted to the County; and
WHEREAS, the Miami City Commission wishes to approve and adopt the SEOPW CRA’s Budget for FY 2026-2027, attached and incorporated herein as Exhibit “A,” in the amount of Two Hundred Seventy-Two Million, Seven Hundred Sixty-Three Thousand, Five Hundred Twenty-One and 00/100 Dollars ($272,763,521.00);
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by reference and incorporated as fully set forth in this Section.
Section 2. The SEOPW CRA’s FY 2026-2027 Budget in the total amount of Two Hundred Seventy-Two Million, Seven Hundred Sixty-Three Thousand, Five Hundred Twenty-One and 00/100 Dollars ($272,763,521.00), attached and incorporated herein as Exhibit “A,” is accepted and approved.
Section 3. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.
WHEREAS, pursuant to Interlocal Agreements, as a prerequisite to carrying out Fiscal Year 2026-2027 redevelopment activities, the Board of Commissioners must approve the CRA’s General Operating and Tax Increment Fund Budget (“Budget”) for Fiscal Year commencing October 1, 2026, and ending September 30, 2027; and
WHEREAS, on September 10, 2026, pursuant to Resolution No. CRA-R-26-\_\_\_\_\_, the SEOPW CRA Board of Commissioners approved and adopted the SEOPW CRA’s General Operating and Tax Increment Fund Budget, attached and incorporated herein as Exhibit “A,” for the Fiscal Year commencing October 1, 2026, and ending September 30, 2027 (“FY 2026-2027”) in the total amount of Two Hundred Seventy-Two Million, Seven Hundred Sixty-Three Thousand, Five Hundred Twenty-One and 00/100 Dollars ($272,763,521.00); and
WHEREAS, pursuant to the Interlocal Agreement(s), a copy of the SEOPW CRA’s approved Budget is required to be transmitted to the County; and
WHEREAS, the Miami City Commission wishes to approve and adopt the SEOPW CRA’s Budget for FY 2026-2027, attached and incorporated herein as Exhibit “A,” in the amount of Two Hundred Seventy-Two Million, Seven Hundred Sixty-Three Thousand, Five Hundred Twenty-One and 00/100 Dollars ($272,763,521.00);
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by reference and incorporated as fully set forth in this Section.
Section 2. The SEOPW CRA’s FY 2026-2027 Budget in the total amount of Two Hundred Seventy-Two Million, Seven Hundred Sixty-Three Thousand, Five Hundred Twenty-One and 00/100 Dollars ($272,763,521.00), attached and incorporated herein as Exhibit “A,” is accepted and approved.
Section 3. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.
Fiscal Impact
Total Fiscal Impact: $272,763,521.00