HomeMy WebLinkAboutCRA-R-21-0028Southeast Overtown/Park West
Community Redevelopment Agency
Legislation
CRA Resolution: CRA-R-21-0028
File Number: 10587
Final Action Date: 9/13/2021
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY,
("SEOPW CRA"), ACCEPTING THE SOLE PROPOSAL RECEIVED FORM MT.
ZION DEVELOPMENT ASSOCIATES, LTD., FOR REQUEST FOR PROPOSALS
21-01 FOR THE DEVELOPMENT FOR THE PROPERTY AT 318 NW 10TH
STREET, MIAMI, FLORIDA 33136, AND AUTHORIZING THE EXECUTIVE
DIRECTOR TO NEGOTIATE A DEVELOPMENT AGREEMENT WITH THE SOLE
PROPOSER.
WHEREAS, the Southeast Overtown/Park West Community Redevelopment Agency
("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 ("Updated Plan"); and
WHEREAS, the SEOPW CRA owns the property located at 318 NW 101" Street, Miami,
FL 33136, (the "Property"); and
WHEREAS, on June 15, 2021, the SEOPW CRA issued RFP 21-0, and Mt. Zion
Development Associates, Ltd., ("Mt. Zion") was the sole proposer.
WHEREAS, the response was reviewed for compliance with the submission
requirements for the RFP, including the verification that the proposal included all required
documents. Mt. Zion has proposed a development which will include affordable housing where
70% of the units will be set aside for households that are at or below 60% of area median
income ("AMI"), and 15 % of the units will be set aside for households that are at or below 30%
of AMI, all of which is in accordance with the Updated Plan; and
WHEREAS, In August 2021, Mt. Zion intends to apply for 9% Low Income Housing Tax
Credits ("LIHTC") financing for its proposed development.
WHERAS, the SEOPW CRA desires to negotiate a development agreement with Mt.
Zion, conveying a leasehold interest (or fee simple interest) in the Property to Mt. Zion for
purposes of securing its LIHTC funding. Per, that development agreement, Mt. Zion shall have
two years to successfully obtain 9% LIHTC for its project, and if it does not obtain said funding
Mt. Zion shall have the right to terminate the development agreement with the SEOPW CRA;
and
WHEREAS, Chapter 163.380, Florida Statutes details the requirements for disposal of
SEOPW CRA owned property within a community redevelopment area"; and
WHEREAS, Section 2, Goal 2 at page 10 of the 2018 Southeast Overtown/Park West
Community Redevelopment Agency Updated Plan ("Updated Plan") lists the "[e]xpansion the
Tax Base using Public -Private principles" as a stated redevelopment goal; and
City of Miami Page 1 of 2 File ID: 10587 (Revision:) Printed On: 911412021
File ID: 10587
Enactment Number: CRA-R-21-0028
WHEREAS, Section 2, Goal 3 at page 10 the Updated Plan lists [p]rovid[ing] and
[r]etain[ing] housing affordability ... and create a sound balance of very low-income housing,
affordable, workface and mixed -income housing within the CRA" as a stated redevelopment
goal; and
WHEREAS, Section 2, Goal 6, at page 10, of the Updated Plan lists "improving quality of
life for residents" as a stated redevelopment goal; and
WHEREAS, it is recommended that the SEOPW CRA accept Mt. Zion's sole proposal
for RFP 21-01, and further authorize the Executive Director to negotiate a development
agreement consistent with the terms above;
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 accept Mt. Zion's sole proposal for
RFP 21-01, and further authorizes the Executive Director to negotiate a development
agreement consistent with the terms above, with respect to the property located at 318 NW 10th
Street, Miami, FL 33136.
Section 3. The Executive Director is authorized to execute all documents necessary
for the purposes set forth above.
Section 4. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND LEGAL SUFFICIENCY:
Anna -Bo manuel, hiet Legal Counsel 8/31/2021
City of Miami Page 2 of 2 File ID: 10587 (Revision:) Printed on: 911412021