HomeMy WebLinkAboutR-92-0748J-92-909
11/12/92
RESOLUTION NO. 9 2 748
A RESOLUTION AUTHORIZING THE CITY MANAGER TO
AMEND THE AGREEMENT, PROMISSORY NOTE AND
MORTGAGE AGREEMENT, IN A FORM ACCEPTABLE TO
THE CITY ATTORNEY, BETWEEN GROVITES UNITED TO
SURVIVE ("GUTS") AND THE CITY OF MIAMI FOR
THE PURPOSE OF REDUCING THE LOAN AMOUNT TO
$271,976.26 AND TRANSFERRING THE REMAINING
BALANCE OF $228,023.74, IN THE FORM OF A
GRANT/LOAN, TO THE COCONUT GROVE LOCAL
DEVELOPMENT CORPORATION, INC. ("CGLDC");
FURTHER AUTHORIZING THE CITY MANAGER TO
EXECUTE AN AGREEMENT, IN A FORM ACCEPTABLE TO
THE CITY ATTORNEY, WITH CGLDC FOR THE PURPOSE
OF TRANSFERRING TO CGLDC SAID FUNDS WHICH
WILL BE USED FOR THE ACQUISITION AND SOFT
COSTS ASSOCIATED WITH THE TIKI PROJECT;
FUNDING THEREFOR PREVIOUSLY ALLOCATED FROM
COMMUNITY DEVELOPMENT BLOCK GRANT FUND.
WHEREAS, the City Commission is committed to economic
development and the expansion of trade and commerce; and
WHEREAS, the promotion of economic revitalization in the
neighborhoods of the City of Miami is an important part of the
City's economic development strategy; and
WHEREAS, the City of Miami previously allocated $500,000
pursuant to Resolution Numbers 86-95 and 85-190 to assist in the
redevelopment of the property located at Grand Avenue and Douglas
Road into a commercial complex; and
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IMETING or,
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92- 748
WHEREAS, GUTS, a minority -owned oommunity organization, was
instrumental in seouring a oommeroial property that would be
developed to proteot the oharaoter, ambienoe and historioal
integrity of Miami's oldest Blaok oommunity; and
WHEREAS, CGLDC will 000rdinate and oversee the development
of the Tiki Club and adjoining properties into a viable
retail/oommeroial oenter;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY
OF MIAMI, FLORIDA:
Seotion 1. The reoitals and findings contained in the
Preamble to this Resolution are hereby adopted by referenoe
thereto and incorporated herein as if fully set forth in this
Seotion.
Seotion 2. The City Manager is hereby authorized/ to
amend, in a form aooeptable to the City Attorney, the agreement
with GUTS for the purpose of reduoing its loan amount to
$271,976.00, with all other terms and provisions remaining in
full force and effect.
Section 3. The City Manager is hereby authorized V to
exeoute an agreement, in a form aooeptable to the City Attorney,
with CGLDC for the purpose of transferring to CGLDC the balanoe
remaining from the original loan amount of $500,000 from funds
previously appropriated to GUTS.
The herein authorization is further subjeot to oomplianoe
with all requirements that may be imposed by the City
Attorney, including but not limited to those presoribed by
applioable City Charter and Code provisions.
92- 748
Section 4. The total balance to be allocated to CGLDC
will not exceed $228,023.74.
Section S. CGLDC shall use the aforementioned funds for
soft costs associated with the acquisition and development of
properties as it relates to the development of the Tiki
oommeroial/retail project.
Section 8. Final approval by the City Commission will be
required prior to the purchase of any property by CGLDC.
Section 2. This Resolution shall become effective
immediately upon its adoption.
PASSED AND ADOPTED this 12th day of Nosyemb2err, 1992.
ATT
MATTY HIRAI
CITY CLERK
PREPARED AND APPROVED BY:
CARMEN L. LEON
ASSISTANT CITY ATTORNEY
APPROVED AS TO FORM AND CORRECTNESS:
0
A. QII NN J i S, IIT
CITY ATTO
CLL:osk:M 437
XAVIERc-0. SIIARLZ , MAYOR
92- 748
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32.
3682 Grand Avenue, P.O. box 76, Coconut Grove, FL 33133. (306) 446.309N6
September 28, 1992
Mr. Aurelio Perez-Lugones
Legislative Administrator
CITY MANAGER'S OFFICE
3500 Pan American Drive
Miami, Florida 33133
Dear Mr. Perez-Lugones:
We are hereby requesting to be placed on the Agenda
for the October 8, 1992, City Commission Meeting.
The subject for discussion will be The Goombay Plaza/
Tiki Redevelopment Project.
Thanking you for your kind cooperation.
Sincerely,
DAVID J. ALE DER
Executive Director
DJA/sk
92-- 748
A Non -Profit Corporation for Economic Development 2 r