HomeMy WebLinkAboutCRA-R-17-0038Southeast Overtown/Park West
Community Redevelopment Agency
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Legislation
CRA Resolution: CRA-R-17-0038
File Number: 2554
Final Action Date:6/26/2017
A RESOLUTION THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY, WITH
ATTACHMENTS, AUTHORIZING THE EXECUTIVE DIRECTOR OF THE
SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT
AGENCY TO EXECUTE AN AMENDMENT TO THE COVENANT REGARDING
BLOCK 46 WITH SAWYER'S WALK, LTD. AND POINCIANA VILLAGE OF
MIAMI, LTD., IN SUBSTANTIALLY THE ATTACHED FORM.
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; and
WHEREAS, the CRA previously entered into a Covenant with Sawyer's Walk, Ltd., a
Florida limited partnership and Poinciana Village of Miami, Ltd., a Florida limited partnership
(collectively the "Developer") with respect to the development of Block 46 (the "Covenant"); and
WHEREAS, the Covenant included certain obligations for the CRA to make payments to
the Developer to assist with the cost of the development of Block 46; and
WHEREAS, the Developer has requested an amendment to the Covenant to allow for
the CRA to extend the time frame for commencement of vertical construction from April 7, 2017
to July 1, 2018; and
WHEREAS, in the proposed amendment, the Developer has agreed to forgo the
payments from the CRA and the CRA has imposed a monthly fee on the Developer for
extending the vertical construction time frame; and
WHEREAS, it is in the best interest of the CRA that the CRA authorize an amendment to
the Covenant.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF
THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY:
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 Executive Director to
enter into an amendment to the Covenant, in substantially the attached form.
Section 3. This Resolution shall become effective immediately upon its adoption.
City of Miami Page 1 of 2 File ID: 2554 (Revision: 8) Printed On: 911412022
File ID: 2554
Enactment Number: CRA-R-17-0038
APPROVED AS TO FORM AND LEGAL SUFFICIENCY:
Re iee Jadus—in gh, Staff C,uL,nsel 6 2812017
City of Miami Page 2 of 2 File ID: 2554 (Revision: 8) Printed on: 911412022