HomeMy WebLinkAboutSEOPW-CRA-R-03-0023�J
ITEM 13
RESOLUTION NO. SEOPW/CRA R- 0 3 _ 23
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
SOUTHEAST OVERTOWN/PARK WEST COMMUNITY
REDEVELOPMENT AGENCY AUTHORIZING THE
EXECUTIVE DIRECTOR TO PROVIDE A GRANT TO CLUB
SPACE FOR WASA IMPACT FEES LEVIED BY MIAMI-
DADE COUNTY IN AN AMOUNT NOT TO EXCEED
$50,000.00.
WHEREAS, the success or failure of new businesses within the redevelopment area has
a direct impact on further economic development within the redevelopment area; and
WHEREAS, the Southeast Overtown/Park West Community Redevelopment Agency, in
accordance with its redevelopment plan, wishes to encourage and foster economic growth by
assisting new businesses in the redevelopment area.
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:
Section 1. The recitals and findings contained in the Preamble to this Resolution are
adopted and incorporated herein as if fully set forth in this Section.
Section 2. That Board of Directors hereby authorize the Executive Director to
provide a grant to Club Space for the WASA impact fees levied by Miami -Dade County in an
amount not to exceed $50,000.00.
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Section 3. This Resolution shall be effective upon its adoption.
PASSED AND ADOPTED this 31st day of March, 2003.
ATTEST:
PRISCILLA A. HOMP ON,
CLERK OF THE BOARD
APPROVED AS TO
FORM AND C-01M
COUNSEL
MR,
CHAWAAN,
NOTE: Expenditure authorized by
this resolution is funded by CRA
SEOPW TIF Account Code No.
689001.550108.6.940 — Other
Grants & Aids.
(See Attached Financial
Information Form)
Frank K. Rollason
Executive Director
Community Redevelopment Agency
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46
AGENDA I
FINANCIAL INFORMATION FORM
CITY OF MIAMI
COMMUNITY REDEVELOPMENT AGENCY
EOPW C or OMNI CRA (if applicable)
CRA Board Meeting Date: March 31, 2003
CRA Section: Finance & Administration
Brief description of CRA Agenda Item:
$50,000 Grant to Club Space for WASA Impact Fees. (Item 13 on 3/31/03 Agenda).
Project Number: 689001
YES, there are sufficient funds in Line Item:
Index Code: 550108 Minor: 940 Amount: $50,000
❑ NO (Complete the following source of funds information):
Amount budgeted in the line item: $
Balance in the line item: $
Amount needed in the line item: $
Sufficient funds will be transferred from the following line items:
ACTION
I ACCOUNT NUMBER 77TTOTAL
Project No./Index/Minor Object
From
$
To
$
From
$
To
$
Comments:
Approved by: Date:
CRA Executive Director/Designee
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APPROVALS
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/CRA'
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ITEM 13
CITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
To: Chairman Arthur E. Teele, Jr. and
Members of the CRA Board
From: Fr c K. Rollason
CRA Executive Director
RECOMMENDATION:
Date: March 18, 2003 File:
Subject: Club Space Loan/Grant
References:
Enclosures: Resolution
It is respectfully recommended that the Board of Directors authorize a CRA Loan/Grant with the terms
as presented in the attached Exhibit `A' for Club Space in which the Executive Director is to provide a
grant to Club Space for 25% of the WASA impact fees (not to exceed $50,000.00) levied by the Miami
Dade County, further authorizing the issuance of an 18-month loan in an amount not to exceed 75% of
the remaining levy (not to exceed $150,000.00) where said loan will include a provision that would
allow the CRA to make a demand on same with thirty (30) days notice to Club Space; further providing
that the total funding must not exceed $200,000 for both the grant and loan package from SEOPW TIF
project 689005.550012 account. (Item 013 corrects Item #12)
JUSTIFICATION:
On February 25, 2003, the Board of Directors of the Omni CRA awarded a grant and a loan not to
exceed $200,000 via Omni Resolution R 03-14 to Club Space. Club Space is physically located in the
Park West sub -area and this puts forth SEOPW/CRA Resolution to correct the error.
Funding Source: SEOPW TIF
Account Number: 689005.550012
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