HomeMy WebLinkAboutCRA-R-19-0025Southeast Overtown/Park West
Community Redevelopment Agency
Legislation
CRA Resolution: CRA-R-19-0025
File Number: 6133
Final Action Date:6/27/2019
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY
AUTHORIZING A GRANT TO MARCUS SAMUELSSON DEVELOPMENT
GROUP, LLC FOR ADDITIONAL FUNDING, IN AN AMOUNT NOT TO EXCEED
$750,000.00, FOR COSTS ASSOCIATED WITH THE BUILD -OUT OF RED
ROOSTER OVERTOWN, A RESTAURANT AND ENTERTAINMENT VENUE
LOCATED AT 920 NW 2ND AVENUE, MIAMI FLORIDA; 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; FUNDS TO BE ALLOCATED FROM
SEOPW TAX INCREMENT FUND, ENTITLED "OTHER GRANTS AND AIDS,"
ACCOUNT CODE NO. 10050.920101.883000.0000.00000.
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 2009 Southeast Overtown/Park West Redevelopment Plan ("Plan"); and
WHEREAS, pursuant to Florida Statutes, Section 163.340(9) of the Community Redevelopment
Act, community redevelopment means "undertakings, activities, or projects of a ... community
redevelopment agency in a community redevelopment area for the elimination and prevention of the
development or spread of slums and blight...."; and
WHEREAS, Section 2, Goals 4 and 6, at page 11 of the Plan lists the "creati[on of] jobs within
the community" and " [i]mproving quality of life for residents" as stated redevelopment goals; and
WHEREAS, Section 2, Principle 4, at page 14 of the Plan provides that "employment
opportunities be made available to existing residents ..."; and
WHEREAS, Section 2, Principle 6, at page 15 of the Plan provides that in order to "address and
improve the neighborhood economy and expand economic opportunities of present and future residents
and businesses[,] ... [it is necessary to] support and enhance existing businesses and ... attract new
businesses that provide needed services and economic opportunities ..."; and
WHEREAS, Section 2, Goal 5, at page 11 of the Plan lists the "[p]romotion and marketing of the
community" and "[e]xpanding the tax base" as stated redevelopment goals; and
WHEREAS, Section 2, Principles 6 and 14, at pages 15-16 of the Plan list the promotion of "local
cultural events, institutions, and businesses," and "restor[ing] a sense of community and unify[ing] the
area culturally," as stated redevelopment principles; and
City of Miami Page 1 of 3 File ID: 6133 (Revision:) Printed On: 711612019
File ID: 6133 Enactment Number: CRA-R-19-0025
WHEREAS, on January 7, 2016, CRA issued Request for Qualifications ("RFQ") 16-01 for
Restaurant/Entertainment Programming for 920 NW 2' Avenue, Miami, Florida 33136 ("Property"); and
WHEREAS, on March 30, 2016, the Board of Commissioners, by Resolution No. CRA-R-16-
0006, accepted the selection committee's recommendation to select Marcus Samuelsson Development
Group, LLC ("MSDG") as the top ranked proposer to RFQ 16-01, and authorized the Executive Director
to negotiate with the top ranked proposer; and
WHEREAS, on February 27, 2017 the Board of Commissioners, by Resolution No. CRA-R-17-
0005, authorized the sale of the Property to MSDG for $1,500,000 and further authorized a grant to
MSDG, in an amount not to exceed $1,000,000, to assist with build -out costs; and
WHEREAS, on February 13, 2018, CRA and MSDG entered into a development agreement
which provided for the sale of the Property to MSDG for $1,500,000, and a grant to MSDG for
$1,000,000; and
WHEREAS, MSDG is requesting additional funding, in the amount of $750,000.00, to further
assist with costs associated with the build -out of Red Rooster Overtown, a restaurant and entertainment
venue located at 920 NW 2' Avenue. hi sum, the total grant contribution for this project will be
$1,750,000 minus sales revenue of $1,500,000 for a total net CRA contribution of $250,000.00; and
WHEREAS, the Board of Commissioners wishes to authorize the execution of a grant agreement
to MSDG for additional funding, in an amount not to exceed $750,000.00, for costs associated with the
build -out of Red Rooster Overtown; and
WHEREAS, the Board of Commissioners finds that authorizing this Resolution would further the
CRA's 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 authorize the execution of a grant
agreement to MSDG for additional funding, in an amount not to exceed $750,000.00, for costs associated
with the build -out of Red Rooster Overtown, a restaurant and entertainment venue located at 920 NW 2nd
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 a
reimbursement basis or directly to vendors, upon presentation of invoices and satisfactory documentation.
Section 5. Funds to be allocated from SEOPW Tax Increment Fund, entitled "Other Grants
and Aids," Account Code No. 10050.920101.883000.0000.00000.
Section 6. This Resolution shall become effective immediately upon its adoption.
City of Miami Page 2 of 3 File ID: 6133 (Revision:) Printed on: 711612019
File ID: 6133
Enactment Number: CRA-R-19-0025
APPROVED AS TO FORM AND LEGAL SUFFICIENCY:
fiver, E cutive Director 6/21 /2019
City of Miami Page 3 of 3 File ID: 6133 (Revision:) Printed on: 711612019