SEOPW CRA FY 2025-26 BUDGET

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

This legislative item concerns the approval of the Fiscal Year 2025-2026 budget for the Southeast Overtown Park West Community Redevelopment Agency and 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 annual budgets of community redevelopment agencies. The redevelopment area is located within County Commission Districts 3 and 5. The Agency's life and the redevelopment area are set to sunset on March 31, 2042. No specific contractors or trades are mentioned as this is a budget approval item.