Loading...
HomeMy WebLinkAboutSEOPW-CRA-R-01-0150RESOLUTION NO. SEOPW/CRA 01- 150 A RESOLUTION OF THE BOARD OF DIRECTORS OF SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY (THE "CRA") DIRECTING THE EXECUTIVE DIRECTOR AND THE STAFF OF THE CRA TO COOPERATE WITH BANK OF AMERICA AND ANY OTHER LENDER OR INVESTOR HAVING DISCUSSIONS WITH SAWYER'S WALK, LTD. (THE "DEVELOPER") IN CONNECTION WITH PROVIDING FINANCING OR CAPITAL IN CONNECTION WITH THE SAWYER'S WALK PROJECT (THE "PROJECT") AND DIRECTING THE EXECUTIVE DIRECTOR AND THE CRA'S ATTORNEYS TO PROVIDE ANY AND ALL INFORMATION THAT MAY BE REASONABLY REQUESTED BY BANK OF AMERICA OR ANY OTHER LENDER OR INVESTOR IN CONNECTION WITH THE PROJECT AS DETERMINED APPROPRIATE BY COUNSEL TO THE CRA, NOTWITHSTANDING THE LITIGATION (THE "PENDING LITIGATION") BETWEEN THE CRA, THE CITY OF MIAMI AND THE DEVELOPER IN CONNECTION WITH THE PROJECT, styled CITY OF MIAMI, ETC., ET AL. V. SAWYER'S WALK, LTD., ETC., ET AL., CASE NO. 00-28860 (CA 09) CIRCUIT COURT, 11TH JUDICIAL CIRCUIT. WHEREAS, the CRA is responsible for carrying out redevelopment activities and projects in the Southeast Overtown/Park West Community Redevelopment Area established pursuant to the CRA Redevelopment Plan; and WHEREAS, the CRA and the City of Miami (the "City") have instituted the Pending Litigation with respect to the Project; and WHEREAS, CRA desires to cooperate with Bank of America and any other lenders or investors having discussions with the Developer in connection with providing financing or capital with respect to the Project, notwithstanding the existence of the Pending Litigation. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE SOUTHEAST OVERTOWN/ PARK WEST COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF MIAMI, FLORIDA: SE®PW/CRA 01- 150 Section 1. The recitals and findings contained in the Preamble to this Resolution are incorporated herein as if fully set forth in this Section. Section 2. The Board of Directors of the CRA authorizes and directs the Executive Director and the staff of the CRA to cooperate with Bank of America and any other lenders or investors seeking to provide financing or capital to the Developer in connection with the Project, notwithstanding the Pending Litigation and directs the Executive Director and the CRXs attorneys to provide to Bank of America and any other lenders or investors seeking to provide financing or capital in connection with the Project any and all information they may reasonably request with respect to the Project, as determined appropriate by counsel to the CRA, notwithstanding the existence of the Pending Litigation. Section 3. This resolution shall be effective upon its adoption. PASSED AND ADOPTED this llth day of December, 2001. Arthur E. Teele, Jr., Chairman APPROVED AS TO FORM AND CORRECTNESS: 4,1) /� B 409 William R. Bloom, Esq. Holland & Knight LLP Special Counsel MIA1 #1089708 vl 2 SEOPW/CRA 01- 150 F CITY OF MIAMI, FLORIDA ►M FROM 0 on Chairman Teele and Members of the CRA Bo d Annette Lewis Acting Executive Dir INTER -OFFICE MEMORANDUM DATE: SUBJECT: REFERENCES: ENCLOSURES: ITFgA 22 December 11, 2001 Sawyer's Walk Resolution RECOMMENDATION It is recommended that the CRA Board approve the attached resolution directing Executive Director of the CRA and the staff to cooperate with Bank of America and any other lender or investor having discussions with Sawyer's Walk, Ltd. ("Sawyer's Walk") in connection with providing financing or capital in connection with the Sawyer's Walk Project notwithstanding the litigation (the "Pending Litigation") between the CRA, the City of Miami and Sawyer's Walk in connection with the Project. BACKGROUND The City of Miami ("City") issued an RFP for the selection of a developer to develop the property commonly known as the Sawyer's Walk Project (the "Project") in July of 1990. Sawyer's Walk was the selected respondent. The City and Sawyer's Walk were never able to finalize the lease with respect to the Project. The City has conveyed the Project to the CRA. The City and the CRA have initiated the Pending Litigation to ascertain the rights of the parties with respect to the RFP and the Project. Notwithstanding the Pending Litigation, Sawyer's Walk has requested that the CRA cooperate with Bank of America and any other lender or investor having discussions with Sawyer's Walk with respect to the Project and provide any and all information that they may reasonable request with respect to the Project. Such assistance is being done with the understanding that the CRA/City have no responsibility to finance the Project in the Request for Proposals and any draft redevelopment agreement that must be reviewed and approved by the governing body of the City as required under s. 163.380(2) of the Cooperative Act of 1969 ("Act"). Funding Source: Account Number: ITEM 22 December 11, 2001 RESOLUTION NO. L A RESOLUTION OF THE BOARD OF DIRECTORS OF SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY (THE "CRA") DIRECTING THE EXECUTIVE DIRECTOR AND THE STAFF OF THE CRA TO COOPERATE WITH BANK OF AMERICA AND ANY OTHER LENDER OR INVESTOR HAVING DISCUSSIONS WITH SAWYER'S WALK, LTD. (THE "DEVELOPER") IN CONNECTION WITH PROVIDING FINANCING OR CAPITAL IN CONNECTION WITH THE SAWYER'S WALK PROJECT (THE "PROJECT") AND DIRECTING THE EXECUTIVE DIRECTOR AND THE CRA'S ATTORNEYS TO PROVIDE ANY AND ALL INFORMATION THAT MAY BE REASONABLY REQUESTED BY BANK OF AMERICA OR ANY OTHER LENDER OR INVESTOR IN CONNECTION WITH THE PROJECT, NOTWITHSTANDING THE LITIGATION (THE "PENDING LITIGATION") BETWEEN THE CRA, THE CITY OF MIAMI AND THE DEVELOPER IN CONNECTION WITH THE PROJECT, styled CITY OF MMMI, ETC., ET AL. V. SAWYER'S WALK, LTD., ETC., ET AL., CASE NO. 00-28860 (CA 09) CIRCUIT COURT, 11TH JUDICIAL CIRCUIT. M WHEREAS, the CRA is responsible for carrying out redevelopment activities and projects in the Southeast Overtown/Park West Community Redevelopment Area established pursuant to the CRA Redevelopment Plan; and WHEREAS, the CRA and the City of Miami (the "City") have instituted the Pending Litigation with respect to the Project; and WHEREAS, CRA desires to cooperate with Bank of America and any other lenders or investors having discussions with the Developer in connection with providing financing or capital with respect to the Project, notwithstanding the existence of the Pending Litigation and with the understanding that the CRA/City has no responsibility to finance the Project as set forth in the Request for Proposals and any "draft" redevelopment agreement that must be reviewed and approved by the governing body of the City as required under s. 163.380(2) of the Cooperation Act of 1969 ("Act"). NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE SOUTHEAST OVERTOWN/ PARK WEST COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF MIAMI, FLORIDA: 00 Im ITEM 22 December 11, 2001 Section 1. The recitals and findings contained in the Preamble to this Resolution are incorporated herein as if fully set forth in this Section. Section 2. The Board of Directors of the CRA authorizes and directs the Executive Director and the staff of the CRA to cooperate with Bank of America and any other lenders or investors seeking to provide financing or capital to the Developer in connection with the Project, notwithstanding the Pending Litigation and directs the Executive Director and the CRA's attorneys to provide to Bank of America and any other lenders or investors seeking to provide financing or capital in connection with the Project any and all information they may reasonably request with respect to the Project, notwithstanding the existence of the Pending Litigation and with the understanding that the CRA/City has no responsibility to finance the Project in the Request for Proposals and any draft redevelopment agreement that must be reviewed and approved by the governing body of the City as required under s. 163.380(2) of the Cooperation Act of 1969 ("Act"). Section 3. This resolution shall be effective upon its adoption. PASSED AND ADOPTED this 11t' day of December, 2001. Walter J. Foeman City Clerk APPROVED AS TO FORM AND CORRECTNESS: Alejandro Vilarello City Attorney MIA] #1089708 v1 M Arthur E. Teele, Jr., Chairman 1K