Title
A Resolution Of The Hollywood, Florida Community Redevelopment Agency (“CRA”), Amending The Annual Budget For The Downtown District Of The CRA For Fiscal Year 2024; Revising Fiscal Year 2024 Expenditures.
Strategic Plan Focus
Financial Management & Administration
Body
Staff Recommends: Approval of the attached Resolution.
Explanation:
Certain routine and periodic budgetary adjustments and transfers are appropriate and necessary during the fiscal year and as such certain revisions to the Fiscal Year 2024 Adopted Budget are needed to ensure prudent financial management.
The proposed Resolution amends the operating budget to cover expenses relating to the second $450,000 payment to H3 as part of the $1.3 million redevelopment agreement, as well as liens on properties located on Dixie Highway & Adams Street.
Fiscal Impact:
Funding is being transferred from various accounts to cover expenditures as identified in Exhibit B.
Recommended for inclusion on the agenda by:
Jorge Camejo, Executive Director