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Community Redevelopment Agency
Legislation
CRA Resolution: CRA-R-24-0036
File Number: 16083 Final Action Date:5/23/2024
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY
("SEOPW CRA"), WITH ATTACHMENT(S), APPROVING A HOUSING SUBSIDY
AGREEMENT ("AGREEMENT"), BETWEEN THE SEOPW CRA AND AVANTI
RESIDENTIAL — ARTE GRAND CENTRAL TIC I, LLC; AVANTI RESIDENTIAL —
ARTE GRAND CENTRAL TIC II, LLC; AVANTI RESIDENTIAL — ARTE GRAND
CENTRAL TIC III, LLC; AVANTI RESIDENTIAL — ARTE GRAND CENTRAL TIC
IV, LLC; AND AVANTI RESIDENTIAL — ARTE GRAND CENTRAL TIC V, LLC;
EACH A DELAWARE LIMITED LIABILITY COMPANY (COLLECTIVELY,
"OWNER"), ATTACHED AND INCORPORATED HEREIN AS EXHIBIT "A";
AUTHORIZING THE EXECUTIVE DIRECTOR TO DISBURSE FUNDS DERIVED,
FROM THE CITY OF MIAMI RESOLUTION R-24-0109, AS EXHIBIT "B",
SUBJECT TO THE AVAILABILITY OF FUNDING FROM ACCOUNT TITLE
"OTHER GRANTS AND AIDS," ACCOUNT CODE NO.
10050.920101.883000.0000.00000, IN AN AMOUNT NOT TO EXCEED SIX
HUNDRED FIFTEEN THOUSAND DOLLARS AND ZERO CENTS ($615,000.00)
("FUNDS") ANNUALLY; AND AUTHORIZING THE EXECUTIVE DIRECTOR TO
EXECUTE ANY AND ALL DOCUMENTS REQUIRED TO CONSUMMATE THE
AGREEMENT; PROVIDING FOR INCORPORATION OF RECITALS; AND
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the Southeast Overtown/Park West Community Redevelopment Agency ("SEOPW 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 2018 Southeast Overtown/Park West Redevelopment Plan Update (the "Plan"); and
WHEREAS, Section 2, Goal 3 of the Plan lists the "creat[ion of infill housing, diversity in
housing types, and retaining affordable housing, as a stated redevelopment goal; and
WHEREAS, Section 2, Goals 4 and 6 of the Plan lists the "creat[ion of jobs within the
Community" and "improving quality of life for residents" as stated redevelopment goals; and
WHEREAS, Section 2, Principle 4 of the Plan provides that "[t]he neighborhood ... retain access
to affordable housing ..." as a stated redevelopment principle; and
WHEREAS, Section 2, Principle 6 of the Plan further 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 ..." as a stated redevelopment
principle; and
WHEREAS, the Housing Subsidy Agreement ("Agreement") is attached hereto and incorporated
herein as Exhibit "A"; and
City of Miami Page 1 of 2 File ID: 16083 (Revision:) Printed On: 6/11/2024
File ID: 16083 Enactment Number: CRA-R-24-0036
WHEREAS, the financial commitment for this Agreement is Six Hundred Fifteen Thousand
Dollars and Zero Cents ($615,000.00) ("Funds") annually, commencing in fiscal year 2025, per year
continued for five (5) years, and may thereafter automatically renew for two (2) successive five (5) year
periods, and is subject to the availability of funding; and
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, as attached hereto and incorporated herein
as Exhibit "A", and approves the terms contained therein.
Section 3. The Executive Director is hereby authorized to execute the Housing Subsidy
Agreement (Exhibit "A"), and all in forms acceptable to Counsel, to effectuate said Agreement, with
funds allocated from account title "Other Grants and Aids," account code no.
10050.920101.883000.0000.00000, in an amount not to exceed Six Hundred Fifteen Thousand Dollars
and Zero Cents ($615,000.00) ("Funds"), annually, subject to the availability of funding, upon
presentation of invoices and satisfactory documentation.
Section 4. The Executive Director is further authorized to execute any additional terms to
the Agreement, including any and all necessary documents and all -in forms acceptable to the General
Counsel, for said purpose as set forth in Exhibit "B", and to disburse Funds, derived from the City of
Miami resolution R-24-0109.
Section 5. Sections of this Resolution may be renumbered or re -lettered and corrections of
typographical errors which do not affect the intent may be authorized by the Executive Director, or the
Executive Director's designee, without need of public hearing, by filing a corrected copy of same with the
City of Miami City Clerk.
Section 6. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND LEGAL SUFFICIENCY:
e Br ounsel 5/16/2024
City of Miami Page 2 of 2 File ID: 16083 (Revision:) Printed on: 6/11/2024