SEOPW CRA FY 2025-26 BUDGET

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

The document is a legislative item for the Southeast Overtown/Park West Community Redevelopment Agency (CRA) FY 2025-26 budget, adopted by the Miami-Dade Board of County Commissioners on 7/21/2026. The budget totals $280,997,692.00 for the Southeast Overtown/Park West Community Redevelopment Area. The resolution approves the budget as required by the Interlocal Cooperation Agreement and section 163.387, Florida Statutes. The redevelopment area is located within County Commission Districts 3 and 5. The budget includes $22,188,418 in County TIF, $34,618,589 in City TIF, $44,644,511 in carryover funds, $173,265,830 in Bond Series 2025A proceeds, $4,027,358 in non-TIF revenue, and a Children's Trust contribution of $2,252,986. Administrative expenditures are $6,709,741 (2.38 percent of total budgeted expenditures). Operating expenses total $95,769,235, including $65,349,255 for Grants and Aid, $7,803,168 for Interfund transfers, $14,207,725 for debt service payment/reserves, $2,500,000 for purchase of land/infrastructure, $5,704,354 for professional and contractual services, and $204,733 for construction-in-progress. Reserves for designated purposes total $178,318,716, including $155,737,781 for capital projects funded with Bond Series 2025A issuance, $14,053,577 for development of affordable housing, $4,027,358 for projects funded with non-TIF revenue, $2,000,000 for maintenance of Agency-owned properties, and $2,500,000 for policing initiatives within the CRA boundary. The budget also includes a reserve of $200,000. The Agency and redevelopment area sunset on March 31, 2042. The Agency adopted the budget on 9/11/2025 via Resolution CRA-R-25-0047, and the City approved it on 9/25/2025 via Resolution R-25-0409. The Intergovernmental and Economic Impact Committee forwarded the item to the Board with a favorable recommendation on 6/10/2026. The final action was adoption on 7/21/2026.