HomeMy WebLinkAboutSEOPW-CRA-R-98-0037Agenda Item No. 6
SEOPW/CRA
RESOLUTION NO. 9 8 — a �
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
COMMUNITY REDEVELOPMENT AGENCY GRANTING
SAWYERS WALK LTD. AND MC SQUARED PARTNERS,
INC., AN EXTENSION OF TIME UNTIL FEBRUARY 5, 1999
TO COMMIT TO PROCEED IN ACCORDANCE WITH A
DEVELOPMENT PLAN, INCLUDING A PHASING PLAN
AND PROJECT SCHEDULE AS APPROVED BY THE BOARD
OF DIRECTORS, FOR THE UNIFIED DEVELOPMENT OF
BLOCKS 45, 55 AND 56 WITH SUCH EXTENSION BEING
SUBJECT TO AND CONTINGENT UPON THE CONDITIONS
PROVIDED HEREIN; PROVIDING FOR AN EFFECTIVE
DATE; AND FOR SUCH OTHER PURPOSES.
WHEREAS, the Community Redevelopment Agency (the "CRA") is responsible for
carrying out community redevelopment activities and projects in the Southeast Overtown/Park
West Redevelopment Area (the "SEOPW Redevelopment Area") pursuant to a Redevelopment
Plan in effect for the redevelopment area; and
WHEREAS, in 1991, the CRA and the City of Miami (the "City") selected Sawyers
Walk Ltd., as the developer of three parcels in the SEOPW Redevelopment Area known as
"Blocks 45, 55 and 56" (the "Property") contingent and subject to the terms and conditions of
a "Request for Proposals for the Unified Development of Blocks 45, 55, 56 Southeast
Overtown/Park West Community Redevelopment Project" (the "1990 Request for Proposal");
and
WHEREAS, on May 14, 1998, the CRA passed and adopted Resolution No. 98-6 which
approved in principle an agreement between Sawyers Walk Ltd. and Southport Co. and MC
Squared Partners, Inc., collectively known as the MCMC Joint Venture, transferring certain
development rights related to approximately 7.58 acres of the Property from Sawyers Walk Ltd.
to MC Squared Partners, Inc.; and
WHEREAS, as of the date hereof, Sawyers Walk Ltd. and MC Squared Partners have
not commenced any development of the Property; and
WHEREAS, the CRA desires to facilitate and insure no further delays in the
redevelopment of the Property.
SEOPW/CRA 9 8 _ 3 7
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
COMMUNITY REDEVELOPMENT AGENCY:
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 approves and grants
Sawyers Walk Ltd. and MC Squared Partners, Inc., an extension of time until February 5, 1999
to commit to proceed in accordance with a development plan, including a phasing plan and
project schedule acceptable to and approved by the Board of Directors, for the unified
development of the Property. The extension granted herein is subject to and contingent upon (i)
Sawyers Walk Ltd., acknowledging and agreeing to relinquish any and all rights obtained to the
Property by being the sole respondent to the 1990 Request for Proposals, if a development plan
is not approved by the Board of Directors of the CRA on or before February 5, 1999; and (ii)
Sawyers Walks Ltd., or MC Squared Partners, Inc., agreeing to make a $100,000 non-
refundable deposit, in the form of cash or a letter of credit, to insure performance of the
development plan approved by the Board of Directors of the CRA on or before Februaruy 5,
1999.
SECTION 3: This Resolution shall become effective immediately upon its
adoption.
PASSED AND ADOPTED ON THIS 16tDAY OF November
APPROVED AS TO FORM AND LEGAL
SUFFICIENCY
Holland & Knight LLP
Counsel to the CRA
MIA4-674534
Arthur E. Teele, Jr., Chairman
WOPW/CRA 9 8 ` t) l