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 ��
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• 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.
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Historic Overtojwn"Folklife District Improvement Association
day of October, 2006.
SUBMI1TED INTO THE
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