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HomeMy WebLinkAboutR-82-0235E RESOLUTION NO. 8 2 r 2 3 5 A RESOLUTION AUTHORIZING THE CITY MANAGER TO SUBMIT AN APPLI- CATION TO THE UNITED STATES DEPARTMENT OF COMMERCE: ECONOMIC DEVELOPMENT ADMINISTRATION (EDA) REQUESTING $1.5 MILLION FOR THE REDEVELOPMENT AND RENOVATION OF THE PANTRY PRIDE BUILDING AND PROPERTY LOCATED AT NORTHWEST 62ND STREET AND 6TH AVENUE IN CONJUNCTION WITH THE BELAFONTE TACOLCY CENTER, INC. AND EXPRESSING THE INTENT OF THE CITY COMMISSION TO APPROPRIATE UP TO $300,000 IN FLORIDA POWER AND LIGHT FRANCHISE FEES TO MEET THE CASH MATCH REQUIREMENTS OF THE U.S. DEPARTMENT OF COMMERCE FOR THIS PROJECT WHEN IT IS APPROVED BY EDA. WHEREAS, the City of Miami submitted a pre -application to the U. S. Department of Commerce on December 10, 1980 requesting a grant to renovate a currently vacant 46,000+ square foot Pantry Pride Supermarket structure • into a 23,000 square foot supermarket and 8-10 retail establishments; and WHEREAS, the U.S. Department of Commerce has expressed an interest in receiving a formal application from the City of Miami for the aforemen- tioned project for possible funding from the Department's Special Economic Development and Adjustment Assistance Program authorized under Title IX of the Public Works and Economic Development Act of 1965, as amended; and WHEREAS, the U. S. Department of Commerce encourages public and pri- vate non-profit community organizations to work together to carry out pro- jects under Title IX; and WHEREAS, the Belafonte Tacolcy Center, Inc., a recipient of financial support from the Local Initiative Support Corporation, a subsidiary of the Ford Foundation, has expressed a willingness to work with the City of Miami to accomplish the project; and WHEREAS, the City of Miami wants to work with the Belafonte Tacolcy Center, Inc. to develop the project; and WHEREAS, approval of the grant award will require the City of Miami to provide up to a $300,000 local contribution to meet the match requirements; and WHEREAS, revenue generated by Florida Power and Light Franchise Fees may be used for this purpose: NOW,THEREFORE, BE IT HEREBY RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The City Manager is hereby authorized to submit an appli- CnY COMMISSI N MEETING OF MAR 1 18 2- 2 5 mum NM .................�.. cation to the U. S. Department of Commerce: Economic Development Adminis- tration requesting $1.5 million for the redevelopment and renovation of the Pantry Pride building and property located at Northwest 62nd Street and 6th Avenue in conjunction with the Belafonte Tacolcy Center, Inc. Section 2. The City Commission hereby expresses its intent to appropriate up to $300,000 in Florida Power and Light Franchise Fees to meet the cash match requirements of the U.S. Department of Commerce for this pro- ject when it is approved by EDA. PASSED AND ADOPTED this it day of MARCH , 1982. MAURICE A. FERRE MAYOR ATTEST: RAL9 G. ONGIE, CITY CLERK PREPARED AND APPROVED BY: tewo-ef cv. &t4oe P It Howard V. Gary City Manager Jim Reid I Assistant City Manager LJ February 26, 1982 Development of Pantry Pride Site March 11 Commission Meeting "It is recommended that the City Commission authorize the City Manager to submit a grant application to the U. S. Department of Commerce requesting $1.5 million for the redevelopment and renovation of the Pantry Pride building and property located at Northwest 62nd Street and 6th Avenue in conjunction with the Belafonte Tacolcy Center, Inc. and expressing the intent of the City Commission to appro- priate $300,000 in Florida Power and Light Franchise Fees to meet the cash match requirements for this project when approved by the U. S. Department of Commerce." On December 10, 1980, the City of Miami submitted a pre -application to the U. S. Department of Commerce requesting a grant to renovate a currently vacant 46,000+ square foot Pantry Pride Supermarket structure into a 23,000 square foot supermarket and 8-10 retail establishments. This project is in the City's Economic ?adjustment Plan and is designed to stimulate business development in the areas most affected by the civil disturbances which occurred during May 1980. An important part of the City's economic Adjustment Plan is the involvement of community organizations with a solid organizational structure and capabilities in the area of economic development. The Belafonte Tacolcy Center, Inc. is an organization with these characteristics which has received financial support from the Local Initia- tive Support Corporation, a subsidiary of the Ford Foundation. Their involvement with this project should improve our chances of support from the U. S. Department of Commerce and increase the potential for constructive involvement of Black businesses and community leaders from the areas to be impacted by the development. The City Commission needs to express their intent to provide up to $300,000 in cash match when the project is approvea in order to demonstrate to the U. S. Department of Commerce our commitment to this project. Upon receipt of the funds, a contract with the Belafonte Tacolcy Center, Inc. would be developed to provide reimbursement to the City of the $300,000 "equity" investment in the project. The intent of the contract would be to provide a fair return to the City and to divest ourselves of project ownership as soon as possible. 0