HomeMy WebLinkAboutSEOPW-CRA-R-03-0038a
RESOLUTION NO. SEOPW/CRA'
A RESOLUTION OF THE BOARD OF DIRECTORS OF
SOUTHEAST OVERTOWN/PARK WEST COMMUNITY
REDEVELOPMENT AGENCY (THE "CRA")
AUTHORIZING THE CRA TO REIMBURSE THE CITY
OF MIAMI (THE "CITY") IN THE AMOUNT OF
$124,791.34 REPRESENTING ONE-HALF OF THE
PAYMENTS TO BE MADE BY THE CITY IN THE
AMOUNT OF $249,582.68 IN CONNECTION WITH THE
SETTLEMENT AGREEMENT (THE "SETTLEMENT
AGREEMENT") BY AND BETWEEN THE CRA, THE
CITY AND ST. JOHN COMMUNITY DEVELOPMENT
CORPORATION, INC. ("ST. JOHN CDC") TO SETTLE
THE EXISTING LITIGATION INVOLVING THE LYRIC
VILLAGE PROJECT (THE "PROJECT") STYLED CITY
OF MIAMI AND THE SOUTHEAST OVERTOWN/PARK
WEST COMMUNITY REDEVELOPMENT AGENCY V.
LYRIC HOUSING, INC. AND ST. JOHN COMMUNITY
DEVELOPMENT CORPORATION, INC. CASE NUMBER:
00-30414 CA 13 PENDING IN THE CIRCUIT COURT OF
THE 11TH JUDICIAL CIRCUIT IN AND FOR MIAMI-
DADE COUNTY (THE "PENDING LITIGATION"),
WHICH REIMBURSEMENT SHALL BE MADE UPON
THE EARLIER TO OCCUR OF (a) THE SALE OF
SUBSTANTIALLY ALL OF THE PROJECT OR (b) FIVE
(5) YEARS FROM THE DATE. THE SETTLEMENT
AGREEMENT IS EXECUTED.
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 and the CITY desire to settle the Pending Litigation.
SEOPW/CRA
03- 3S
WHEREAS, the CITY has requested that the CRA reimburse the CITY for
the portion of the settlement costs incurred by the CITY.
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 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 to enter into an agreement with the CITY pursuant to which the
CRA would reimburse the CITY in the amount of $124,791.34 representing one-half
of the settlement payments to be made by the CITY in the amount of $249,582.68 in
connection with the Settlement Agreement, which reimbursement shall be made
upon the earlier to occur of (a) the sale of substantially all of the Project or (b) five
(5) years from the date that the Settlement Agreement is executed.
Section 3. This resolution shall be effective upon its adoption.
PASSED AND ADOPTED this 28th day of April-, 2003
Arthur E. Teele, Jr., Chairman
Percilla A. Thompson
Clerk of the Board
APPROVED AS TO FORM AND
CORRECTNESS:
William R. Bloom, Esq.
Holland & Knight LLP
Special Counsel
MIA1 #1218180 v1
2 SEOPW/CRA
02- ` 8
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6b - (2)
SETTLEMENT WITH ST. JOHN
Resolution of the Board of Directors to reimburse one-half of the payments to be made by the City of
Miami in connection with the existing litigation involving the Lyric Village Project.
SEOPW/CRA
03 - 38