HomeMy WebLinkAboutCRA-R-21-0006Southeast Overtown/Park West
Community Redevelopment Agency
Legislation
CRA Resolution: CRA-R-21-0006
File Number: 8886
Final Action Date:4/15/2021
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY
AUTHORIZING THE BUILDOUT OF 7,000 SQUARE FEET OF LEASED RETAIL
AND/OR COMMERCIAL SPACE AT THE LYRIC POINT, LOCATED AT 101 NW
8TH STREET, MIAMI, FL 33136, AND AN ALLOCATION OF FUNDS FOR THE
BUILD -OUT, IN AN AMOUNT NOT TO EXCEED $700,000.00. FUNDS
ALLOCATED FROM SEOPW "OTHER GRANTS AND AID" ACCOUNT CODE
NO.-10050.920101.883000.
WHEREAS, the Southeast Overtown/Park West Community Redevelopment Agency ("SEOPW
CRA") is a community redevelopment agency created pursuant to Chapter 163, Florida Statutes, and is
responsible for carrying out Community Redevelopment activities and projects within its redevelopment
area in accordance with the 2018 Southeast Overtown/Park West Redevelopment Updated Plan (the
"Updated Plan"); and
WHEREAS, under Florida Statutes, Section 163.340(9) of the Community Redevelopment Act,
(the "Act"), "community redevelopment means projects of a ... community redevelopment agency in a
community redevelopment area for the elimination and prevention of the development or spread of slum
and blight"; and
WHEREAS, Section 2, Goal 2, on page 10 of the 2018 Southeast Overtown/Park West
Community Updated Redevelopment Agency Plan (the "Updated Plan"), lists the "[e]xpan[sion of] the
[t]ax [b]ase using Public -Private principles" as a stated redevelopment goal; and
WHEREAS, Section 2, Goal 4, on page 10 of the Updated Plan, further lists "[c]reat[ing] jobs
within the community", as a stated redevelopment goal; and
WHEREAS, Section 2, Principle 4, on page 13 of the Plan provides that "employment
opportunities be made available to existing residents ..." as a stated redevelopment principle; and
WHEREAS, Section 2, Goal 7, on page 10 of the Updated Plan, also lists "[p]romot[ing]
[e]ntrepreneurship and [t]echnology [i]nnovations", as a stated redevelopment goal; and
WHEREAS, Section 2, Principle 4, on page 13 of the Updated Plan provides that "[t]here must be
variety in employment opportunities" as a stated redevelopment principle; and
WHEREAS, Lyric Point is a product of the partnership between Lyric Development, LLC and
Noxxex Lyric, LLC TA Larga Vista Companies. The property is located on NW 8th Street and NW 1st
Avenue and boasts 26,850 square feet on its ground floor and 28,220 square feet on its second. Lyric
Point will be home to a mix of retail, commercial, and office tenants, including some existing Overtown
small businesses.; and
City of Miami Page 1 of 2 File ID: 8886 (Revision:) Printed On: 411912021
File ID: 8886 Enactment Number: CRA-R-21-0006
WHEREAS, the Board of Commissioners wishes to authorize the buildout of 7,000 square feet of
leased retail and/or commercial space at Lyric Point, which will be used for a restaurant, retail space,
business assistance center, and a media production studio, in an amount not to exceed $700,000.00; and
WHEREAS, the Board of Commissioners finds that authorizing this Resolution would further the
SEOPW CRA redevelopment goals and objectives.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS 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 by reference and incorporated herein as if fully set forth in this Section.
Section 2. The Board of Commissioners hereby authorizes the buildout of 7,000 square feet
of leased retail and/or commercial space at Lyric Point, which will be used for a restaurant, retail space,
business assistance center, and a media production studio, in an amount not to exceed $700,000.00.
Section 3. The Executive Director is authorized to execute all documents necessary for said
purpose.
Section 4. The Executive Director is authorized to disburse funds, at his discretion, on a
reimbursement basis or directly to vendors, upon presentation of invoices and satisfactory documentation.
Section 5. $700,000.00 allocated from SEOPW "Other Grants and Aid" Account Code No.
-10050.920101.883000.
Section 6. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND LEGAL SUFFICIENCY:
Anna-BO manuel, hief Legal Counsel 4/9/2021
City of Miami Page 2 of 2 File ID: 8886 (Revision:) Printed on: 411912021