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HomeMy WebLinkAboutSubmittal-Overtown Community Benefits AgreementOVERTOWN COMMUNITY BENEFITS AGREEMENT The historic Overtown neighborhood has experienced many years of neglect, disinvestment and a rip in the social fabric of the community. In spite of these things, the community has maintained a strong sense of its culture and history. Adjacent to downtown Miami, Overtown is experiencing the development pressures evident in "near downtowns" — areas with massive, high -end condominium development and upscale retail, leaving little opportunity for neighborhoods to avoid rapid gentrification. To that end, the Historic Overtown Folklife District Improvement Association or hereinafter, "The District", hereby enters into this Community Benefits Agreement with the Crosswinds Communities, Inc., in the wake of the development of the "Sawyer's Walk" Project in the southeast Overtown neighborhood. EXECUTIVE SUMMARY Members of the Historic Overtown Folklife District Improvement Association began meeting in January of 2006 to discuss proposed residential and commercial developments within the district. In part, this was to ensure the enhancement of the quality of life, security and economic vitality of this historic section of Overtown in the City of Miami. In anticipation of major redevelopment projects that have been proposed for the area on public and private property, the group developed a list of projects, activities and programs that would benefit the indigenous community at large. It is anticipated that all of these activities would be paid for by contributions from the public, private and philanthropic sectors through a permanent trust fund and seeded specifically by those investor/developers who will execute new development projects within the district, as well as from community investments and contributions In support of this effort, Crosswinds Communities, Inc. hereby agrees to the following as minimum community contributions, derived from the financial benefits received by the developers as a result of the "Sawyer's Walk" development project: • To partner and/or support minority owned financial/mortgage company participation in lending process • To collaborate with Overtown Folklife District community developers for affordable housing and economic development opportunities • To partner and/or support a neighborhood full service property management entity participation in project • To strengthen linkage with workforce development intermediaries to allow for skills & employment training program (e.g., heavy equipment operation) • To make multi -year contribution to the Overtown Folklife Village District Improvement Association for operational support TNTO • To make contribution toward Lyric Theater operation)} M �� UBLC RECORD FOR DC? (0I 4 m v - 0 V C cQvy,tr„v,,,APL/2 ON 1 -J3- 02 '16e (. S ice t, 'y1 • To develop tenant counseling and housing finance program for Overtown residents in cooperation with MMAP and other subsidy programs • To support locating parking within the area for ILA #1416 Additionally, Crosswinds Communities, Inc., hereby agrees to embrace the principles of economic development, housing quality and choice, job creation, youth development and education, and cultural and historical preservation goals for the Overtown Folk Life Village community. It is anticipated that existing Overtown residents will benefit directly and indirectly from these initiatives. Signed at Miami, Florida, this Crosswinds Communities, Inc. /1 / e(7,4 `Ce(t' ��11 Historic Overtojwn"Folklife District Improvement Association day of October, 2006. SUBMI1TED INTO THE PUBUC RECORD FOR IZ i3-ol . V2 i1