HomeMy WebLinkAboutSEOPW-CRA-R-98-0029.1Agenda Item No. 1.F.
S"W/+CRA _ 0 9.1
RESOLUTION NO.
A RESOLUTION OF THE BOARD OF THE DIRECTORS OF
THE COMMUNITY REDEVELOPMENT AGENCY
AUTHORIZING KPMG PEAT MARWICK TO CONDUCT A
FEASIBILITY STUDY OF PHASE IV OF THE POINCIANA
VILLAGE CONDOMINIUMS PROJECT TO DETERMINE THE
FEASIBILITY OF PHASE IV BEING COMPLETED AS 91
CONDOMINIUM UNITS, A 125 ROOM HOTEL OR A 125
ROOM EXTENDED STAY FACILITY; AUTHORIZING THE
EXECUTIVE DIRECTOR TO NEGOTIATE A FEE
ARRANGEMENT FOR APPROVAL BY THE BOARD OF
DIRECTORS; PROVIDING AN EFFECTIVE DATE; AND FOR
SUCH OTHER PURPOSES.
WHEREAS, the Community Redevelopment Agency (the "CRA") is responsible for
carrying out community redevelopment in the Southeast Overtown/Park West Redevelopment
Area (the "SEOPW Redevelopment Area") and Omni Redevelopment Area pursuant to
Redevelopment Plans in effect for each Redevelopment Area; and
WHEREAS, Poinciana Village of Miami, Ltd., a Florida limited partnership (the
"Developer") and the City of Miami, a Florida municipal corporation (the "City") have entered
into that certain Southeast Overtown/Park West Lease and Development Agreement (the
"Lease"); and
WHEREAS, the City assigned all of its right, title and interest in the Lease to the CRA;
and
WHEREAS, the CRA has granted the Developer certain amendments to the Lease to
facilitate the completion of partially developed units of Poinciana Village Condominiums (the
"Project"); and
WHEREAS, the CRA desires to have a feasibility study completed relative to the
development of Phase IV of the Project.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
COMMUNITY REDEVELOPMENT AGENCY:
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SE®PW/CRA ' -- ti q .
SECTION 1: The recitals contained in the preamble to this Resolution are hereby
adopted by reference and incorporated in this Resolution as if fully set forth in this Section.
SECTION 2: The Board of Directors of the CRA hereby authorizes KPMG Peat
Marwick, the external auditor of the CRA, to perform a feasibility study of Phase IV of the
Project for an analysis and assessment of the feasibility of the development of Phase IV for 91
condominium units, a 125 room hotel or a 125 room extended stay facility and to provide a
written report of with respect to such feasibility study. A report of the feasibility study shall be
given to the Board of Directors during its meeting in January, 1999.
SECTION 3: The Executive Director is hereby authorized to negotiate a fee
arrangement with KPMG Peat Marwick for the above feasibility which shall be submitted to the
Board of Directors during its December, 1998 meeting for approval prior to the commencement
of any work pursuant to this Resolution.
SECTION 4: This Resolution shall become effective immediately upon its
adoption.
PASSED AND ADOPTED ON THIS 16thDAY OF November 1998.
APPROVED AS TO FORM AND LEGAL
SUFFICIENCY
Holland & Knight LLP
Counsel to CRA
MIA4-674455.1
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Arthur E. Teele, r. , Chairman
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