SEOPW CRA FY 2025-26 BUDGET

Board of County Commissioners · 2026-07-21 · resolution

This legislative matter concerns the approval of the Fiscal Year 2025-2026 budget for the Southeast Overtown Park West Community Redevelopment Agency (CRA) and the Southeast Overtown/Park West Community Redevelopment Area. The total budget is $280,997,692.00. The budget includes various revenue sources such as Tax Increment Financing (TIF) from Miami-Dade County and the City of Miami, bond proceeds, a contribution from the Children's Trust Fund, and carryover funds. Expenditures are categorized into administrative, operating, and reserves for capital projects, affordable housing, non-TIF revenue projects, property maintenance, and policing initiatives. The Intergovernmental and Economic Impact Committee forwarded this item to the Board of County Commissioners (BCC) with a favorable recommendation. The BCC is the governing body responsible for approving the CRA's annual budgets. The redevelopment area is located within County Commission Districts 3 and 5. The CRA and redevelopment area are scheduled to sunset on March 31, 2042. The document does not state specific construction projects or contracting opportunities, but rather approves the overall budget for the CRA's activities.