OPA-LOCKA CRA AMENDED FY 2023-24

Intergovernmental and Economic Impact Committee · 2026-06-10 · resolution

This legislative item concerns the approval of amended Fiscal Year 2023-2024 and Fiscal Year 2024-2025 budgets for the Opa-Locka Community Redevelopment Agency and the Opa-Locka Community Redevelopment Area. The total amended budgets are $7,013,081.00 for FY 2023-24 and $7,392,025.00 for FY 2024-25. The budgets include allocations for administrative expenditures, operating expenditures (such as commercial grants, professional services, micro business grants, and home improvement assistance), and capital projects (including infrastructure grants, development assistance, housing initiatives, building purchase, and green projects). The funding source is tax increment financing (TIF). The Intergovernmental and Economic Impact Committee forwarded the item to the Board of County Commissioners (BCC) with a favorable recommendation. The BCC is the governing body for community redevelopment agencies in Miami-Dade County and must approve all annual CRA budgets and amendments. The Opa-Locka CRA and Redevelopment Area are scheduled to sunset in 2033.