HomeMy WebLinkAboutR-94-0691J-94-764
9/15/94
RESOLUTION NO. 94- 691
A RESOLUTION AUTHORIZING THE CITY MANAGER TO
ALLOCATE $160,000.00 FROM THE ECONOMIC
DEVELOPMENT RESERVE AND INCENTIVE FUND,
PREVIOUSLY FUNDED FROM THE 20TH YEAR
COMMUNITY DEVELOPMENT BLOCK GRANT FUNDS, FOR
THE PURPOSE OF RENOVATING THE OVERTOWN
SHOPPING CENTER.
WHEREAS, the City Commission is committed to economic
development within the target areas of the City of Miami; and
WHEREAS, the Overtown Neighborhood Enhancement Team has
identified and recommended the renovation of the shopping center
as a priority; and
WHEREAS, the renovation of the Overtown Shopping Center
will spur further economic development activities and will
increase the marketability and services of the area; and
WHEREAS, the $200,000.00 total cost of the renovation is
readily available in the amount of $160,000.00 from the Economic
Development Reserve and Incentive Fund, and $40,000.00 from
Hurricane Andrew insurance proceeds;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE
CITY OF MIAMI, FLORIDA:
Section 1.The recitals and findings contained in the
Preamble to this Resolution are hereby adopted by reference
1
CITY Coxmrsw0N
MEETING OF
SEP 2 2 1994
Resolution No,
94- 691
thereto and incorporated herein as if fully set forth in this
Section.
Section 2.The City Manager is hereby authorized to allocate
$160,000.00 from the Economic Development Reserve and Incentive
Fund, previously funded from the 20th Year Community Development
Block Grant funds, for the purpose of renovating the Overtown
Shopping Center.
Section 3.This Resolution shall become effective
immediately upon its adoption.
PASSED AND ADOPTED this 22.nd day Of
September 1994.
ATT
*4-,Ot�
MATTY HIRAI, CITY CLERK
TEPHEN P. CLARK, MAYOR
COMMUNITY DEV ENT VIEW AND APPROVAL:
e----
K TANEDA DIRECTOR
DEPA MENT OF COMMUNITY DEVELOPMENT
94- 691
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BUDGETARY REVIEW AND APPROVAL:
MANOR �b:,/SURANA, DIRECTOR
ASSI T CITY MANAGER
REVIEWED AS TO ACCOUNTING AND
TREASURY REQUIREMENTS:
CA . GARCIA, DIRECTOR
FINANCE DEPARTMENT
PREPARED AND APPROVED BY:
&a bm& �' & �-
OLG AM REZ-SEIJA
ASS TANT CITY ATT RNEY
APPROVED AS TO FORM AND CORRECTNESS:
A. Q INN ES, II
CITY AT EY
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9 4 - 6'91
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CITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM 16
Honorable Mayor and Members SEP 12 Jggd
To of the City Commission DATE FILE
Allocation of Funds for
SUEIJECT . Renovation of the Overtown
Shopping Center
FROM Cesa 0 AEFERRNCES, City Commission Agenda,
Ci ty ger September 22, 1994
ENCLOSURES.
RECOMMENDATION:
It is respectfully recommended that the City Commission adopt the attached
Resolution authorizing the City Manager to allocate $160,000.00 from the
Economic Development Reserve and Incentive fund previously allocated from the
20th Year CDBG funds.
BACKGROUND:
The Overtown Shopping enter is currently in disrepair. Therefore, the
Overtown NET Administrator has encouraged several meetings in order to address
the situation.
The total cost of the project has been established at $200,000.00,
Based on recommendations and the consensus reached by the Overtown
Neighborhood Enhancement Team (NET) and the Overtown community, the Department
of Community Development is requesting the allocation of $160,000.00 from the
Econw'-" Development Reserve and Incentive fund. The $40,000 to complete the
projcz., •All come from the remainder of insurance proceeds from Hurricane
Andra'v
The renovation of the shopping center will act as a catalyst for future
economic development activity within the Overtown target area.
cc. Honorable Miller J. Dawkins, Vice -Mayor
Honorable Victor De Yurre, Commissioner
Honorable Willy (Willy) Gort, Commissioner
Honorable J. L. Plummer, Commissioner
94- 691