HomeMy WebLinkAboutCRA-R-20-0009Southeast Overtown/Park West
Community Redevelopment Agency
Legislation
CRA Resolution: CRA-R-20-0009
File Number: 7484
Final Action Date:5/28/2020
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY
AUTHORIZING ADDITIONAL FUNDING TO TOWN PARK PLAZA SOUTH, INC.
IN AN AMOUNT NOT TO EXCEED $1,302,753.97 DUE TO CONSTRUCTION
DELAYS AT TOWN PARK PLAZA SOUTH; AUTHORIZING THE EXECUTIVE
DIRECTOR TO EXECUTE ALL DOCUMENTS NECESSARY FOR SAID
PURPOSE; FURTHER AUTHORIZING THE EXECUTIVE DIRECTOR TO
DISBURSE FUNDS, AT HIS DISCRETION, ON A REIMBURSEMENT BASIS OR
DIRECTLY TO VENDORS, UPON PRESENTATION OF INVOICES AND
SATISFACTORY DOCUMENTATION; ALLOCATING FUNDS FROM THE
SEOPW CRA 2020 TAX INCREMENT FUND, "OTHER GRANTS AND AIDS,"
ACCOUNT CODE NO. 10050.920101.883000.0000.00000.
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 2009 Southeast Overtown/Park West Redevelopment Plan ("Plan"); and
WHEREAS, Section 163.335(6), Florida Statutes, found and declared that there exists "... a
severe shortage of housing affordable to residents of low or moderate income, including the elderly...
[and] such condition[s] affect the health, safety and welfare of the residents ... and retards their growth
and economic and social development ...."; and
WHEREAS, Section 2, Goal 3, on page 11 of the Plan lists "creating infill housing, diversity in
housing types, and retaining affordable housing" as a stated redevelopment goal; and
WHEREAS, Section 2, Principle 2, on page 14 of the Plan also provides that "the neighborhood
has to retain access to affordable housing even as the neighborhood becomes more desirable to
households with greater means" as a stated redevelopment principle; and
WHEREAS, Section 2, Principle 3, on page 14 of the Plan further provides that "there must be
variety in housing options" as a stated redevelopment principle; and
WHEREAS, Town Park Plaza South, Inc. ("TPPS") requests additional funding in an amount not
to exceed $1,302,753.97, as a result of construction delays at Town Park Plaza South located at 1798 NW
7t' Avenue, Miami, Florida 33136 (the "Property"), which is undergoing rehabilitation of 116 affordable
housing units (the "Project"); and
WHEREAS, on June 29, 2015, pursuant to Resolution No. CRA-R-15-0025, the Board of
Commissioners (the "Board") authorized a grant in the amount of $10,000,000 for the Project. On July
25, 2016, the Board, by Resolution No. CRA-R-16-0037, authorized additional funding in an amount not
to exceed $3,500,00. On December 16, 2019, pursuant to Resolution No. CRA R-19-0048, the Board
authorized additional funding in the amount of $1,602,658.00 to finalize the Project primarily due to
increased relocation costs as a result of limited housing availability and increased rental expenses; and
City of Miami Page 1 of 3 File ID: 7484 (Revision:) Printed On: 61112020
File ID: 7484 Enactment Number: CRA-R-20-0009
WHEREAS, TPPS now seeks additional funding as a result of construction delays due to the City
of Miami, on January 15, 2020, placing a hold on all inspections because of issues with Temporary
Certificate of Occupancy extensions, and the coronavirus pandemic. Per H.A. Contracting Corp. ("H.A."),
the general contractor performing the rehabilitation, the delay in securing the required inspections
affected its path of completion for the Project, and the aforementioned hold was not lifted until March 30,
2020. As it pertains to the coronavirus pandemic, H.A. states that construction work was slowed due to
social distancing requirements and the City of Miami suspending all inspections required by the building
department. In addition, H.A. states that labor, overhead, and supervision costs have increased due to
social distancing requirements and that it needed to secure the services of a third -party provider to
conduct the necessary building inspections to move forward with the Project; and
WHEREAS, as a result of the construction delays, H.A. asserts that relocation costs have
increased. For example, the existing leases for the relocated residents of the Property are expiring and
must be renewed for no less than a 12-month lease period as required by the unit owners, with a potential
assignability option; and
WHEREAS, TPPS seeks additional funding in the amount of $1,302,753.97, for a total overall
grant amount of $16,405,411.97, which will be sufficient to complete the Project with a projected date of
completion of November 15, 2020; and
WHEREAS, the Board wishes to authorize additional funding to TPPS, in an amount not to
exceed $1,302,753.97, to underwrite costs associated with the completion of the Project; and
WHEREAS, the Board finds that authorizing this Resolution would further the aforementioned
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 additional funding to Town Park
Plaza South, Inc., in an amount not to exceed $1,302,753.97, as a result of construction delays at Town
Park Plaza South located at 1798 NW 7' Avenue, Miami, Florida 33136.
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
reimbursement basis or directly to vendors, upon presentation of invoices and satisfactory documentation.
Section 5. Funds to be allocated from the SEOPW CRA 2020 Tax Increment Fund, entitled
"Other Grants and Aids" Account No. 10050.920101.883000.0000.00000
Section 6. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND LEGAL SUFFICIENCY:
City of Miami Page 2 of 3 File ID: 7484 (Revision:) Printed on: 6/1/2020
File ID: 7484
Enactment Number: CRA-R-20-0009
Corfr, s iver, E cutive Director 5/22/2020
City of Miami Page 3 of 3 File ID: 7484 (Revision:) Printed on: 61112020