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HomeMy WebLinkAboutSEOPW CRA 2014-07-30 Marked AgendaCity of Miami Marked Agenda SEOPW Community Redevelopment Agency Keon Hardemon, Chair Wifredo (Willy) Gort, Vice Chair Marc David Sarnoff, Commissioner Frank Carollo, Commissioner Francis Suarez, Commissioner ************************** SEOPW CRA OFFICE ADDRESS: 819 NW 2nd Avenue, 3rd Floor Miami, FL 33136 Phone: (305) 679-6800, Fax: (305) 679-6835 www.miamicra.com City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com Wednesday, July 30, 2014 5:00 PM Camillus House 1603 NW 7th Ave., Building B Miami, FL 33136 FINANCIALS Present: Commissioner Sarnoff, Commissioner Suarez, Vice Chair Gort and Chair Hardemon Absent: Commissioner Carollo On the 30th day of July 2014, the Board of Commissioners of the Southeast Overtown/Park West Community Redevelopment Agency of the City of Miami met in regular session at Camillus House, 1603 Northwest 7th Avenue, Miami, Florida. The meeting was called to order by Chair Hardemon at 5:25 p.m., and was adjourned at 6:33 p.m. ALSO PRESENT: Clarence Woods, Executive Director, CRA Barnaby L. Min, Deputy General Counsel Todd B. Hannon, Clerk of the Board RESOLUTIONS 1. CRA RESOLUTION 14-00711 A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY, WITH ATTACHMENTS, AMENDING AND SUPPLEMENTING RESOLUTION NO. CRA-R-12-0061 ADOPTED BY THE AGENCY ON SEPTEMBER 17, 2012, AS AMENDED AND SUPPLEMENTED BY RESOLUTION NO. CRA-R-13-0025 ADOPTED BY THE AGENCY ON MARCH 25, 2013 AND RESOLUTION NO. CRA-R-13-0039 ADOPTED BY THE AGENCY ON JUNE 24, 2013, WHICH RESOLUTION NO. CRA-R-12-0061, AS AMENDED AND SUPPLEMENTED (THE "RESOLUTION"), PROVIDED FOR THE ISSUANCE OF TAX INCREMENT REVENUE BONDS OF THE AGENCY TO FINANCE OR REFINANCE THE ACQUISITION AND CONSTRUCTION OF COMMUNITY REDEVELOPMENT PROJECTS IN THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AREAAND PROVIDED FOR AND AUTHORIZED THE City of Miami Page 1 Printed on 8/4/2014 SEOPW Community Redevelopment Agency Marked Agenda July 30, 2014 ISSUANCE OF THE INITIAL SERIES OF TAX INCREMENT REVENUE BONDS THEREUNDER (THE "SERIES 2014A BONDS") FOR THE PURPOSE OF FINANCING CERTAIN GRANTS TO BE USED FOR THE CONSTRUCTION OR REHABILITATION OF AFFORDABLE HOUSING AND FINANCING THE CONSTRUCTION OF OTHER CAPITAL IMPROVEMENTS IN THE REDEVELOPMENT AREA; FOR THE PURPOSES OF AMENDING CERTAIN PROVISIONS OF THE RESOLUTION RELATING TO THE ISSUANCE OF ADDITIONAL BONDS AND PARITY OBLIGATIONS TO IMPROVE THE MARKETABILITY OF THE SERIES 2014A BONDS; MAKING CERTAIN COVENANTS AND AGREEMENTS IN CONNECTION WITH THE ISSUANCE OF THE SERIES 2014A BONDS; AUTHORIZING A NEGOTIATED SALE OF THE SERIES 2014A BONDS IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $60,000,000; AUTHORIZING THE EXECUTIVE DIRECTOR OF THE AGENCY TO AWARD THE SALE OF THE SERIES 2014A BONDS TO WELLS FARGO BANK, NATIONAL ASSOCIATION; DELEGATING CERTAIN AUTHORITY TO THE EXECUTIVE DIRECTOR OF THE AGENCY FOR THE AUTHORIZATION, EXECUTION AND DELIVERY OF A BOND PURCHASE AGREEMENT WITH RESPECT THERETO, AND FOR THE APPROVAL OF THE FINAL TERMS AND DETAILS OF THE SERIES 2014A BONDS; APPOINTING THE REGISTRAR, PAYING AGENT, AUTHENTICATING AGENT AND FUNDS TRUSTEE FOR THE SERIES 2014A BONDS AND AUTHORIZING THE EXECUTION AND DELIVERY OF A FISCAL AGENT AGREEMENT; AUTHORIZING THE DISTRIBUTION OF A PRELIMINARY LIMITED OFFERING MEMORANDUM AND THE EXECUTION AND DELIVERY OF A FINAL LIMITED OFFERING MEMORANDUM WITH RESPECT THERETO; AUTHORIZING THE EXECUTION AND DELIVERY OF A CONTINUING DISCLOSURE AGREEMENT; AUTHORIZING THE ESTABLISHMENT OF A BOOK -ENTRY SYSTEM OF REGISTRATION FOR THE SERIES 2014A BONDS; ADOPTING POST -ISSUANCE COMPLIANCE PROCEDURES FOR TAX -ADVANTAGED BONDS PURSUANT TO CURRENT GUIDELINES OF THE INTERNAL REVENUE SERVICE WHICH WILL APPLY TO THE SERIES 2014A BONDS AND TO THE AGENCY'S TAX -ADVANTAGED BONDS HEREAFTER ISSUED; AND PROVIDING AN EFFECTIVE DATE. File # 14-00711 Cover Memo.pdf File # 14-00711 Legislation.pdf File # 14-00711 Exhibit B.pdf File # 14-00711 Exhibit C.pdf File # 14-00711 Exhibit D.pdf File # 14-00711 Exhibit E.pdf File # 14-00711 Exhibit F.pdf 14-00711-Submittal-SEOPW CRA-Cover Memo.pdf 14-00711-Submittal-SEOPW CRA-Tax Increment Revenue Bond Schedule.pdf CRA-R-14-0051 MOVED: Francis Suarez SECONDED: Wifredo (Willy) Gort Motion that this matter be ADOPTED PASSED by the following vote. AYES: Chair Hardemon, Vice Chair Gort, Commissioner Suarez and Commissioner Sarnoff City of Miami Page 2 Printed on 8/4/2014 SEOPW Community Redevelopment Agency Marked Agenda July 30, 2014 ABSENT: Commissioner Carollo 2. CRA RESOLUTION 14-00695 A RESOLUTION, WITH ATTACHMENT(S), OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("CRA") AUTHORIZING THE ACCEPTANCE OF A GRANT, IN AN AMOUNT OF $150,000, FROM THE FEDERAL HOME LOAN BANK OF ATLANTA ("FHLB-ATLANTA") FOR USE IN CONNECTION WITH THE REHABILITATION OF TOWN PARK PLAZA NORTH, 475 NW 19th STREET, MIAMI, FLORIDA (FOLIO NO. 01-3136-083-0870); AUTHORIZING THE EXECUTIVE DIRECTOR TO EXECUTE THE COMMITMENT LETTER WITH FHLB-ATLANTA, ATTACHED HERETO AS EXHIBIT "A," AND THE AFFORDABLE HOUSING AGREEMENT WITH FHLB-ATLANTA AND FLORIDA COMMUNITY BANK, ATTACHED HERETO AS EXHIBIT "B;" FURTHER AUTHORIZING THE EXECUTIVE DIRECTOR TO EXECUTE ALL OTHER DOCUMENTS NECESSARY FOR SAID PURPOSE. File # 14-00695 Cover Memo.pdf File # 14-00695 Legislation.pdf File # 14-00695 Exhibit.pdf CRA-R-14-0052 MOVED: Marc David Sarnoff SECONDED: Wifredo (Willy) Gort Motion that this matter be ADOPTED PASSED by the following vote. AYES: Chair Hardemon, Vice Chair Gort, Commissioner Suarez and Commissioner Sarnoff ABSENT: Commissioner Carollo 3. CRA RESOLUTION 14-00696 A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY AUTHORIZING THE ISSUANCE OF A GRANT, IN THE AMOUNT NOT TO EXCEED $50,000.00, TO THE BLACK ARCHIVES, HISTORY AND RESEARCH FOUNDATION OF SOUTH FLORIDA, INC. TO UNDERWRITE COSTS ASSOCIATED WITH THE CONTINUED OPERATION OF THE WARD ROOMING HOUSE GALLERY CULTURAL TOURISM CENTER FOR A PERIOD OF ONE (1) YEAR; AUTHORIZING THE EXECUTIVE DIRECTOR TO EXECUTE ALL DOCUMENTS NECESSARY FOR SAID PURPOSE; FURTHER AUTHORIZING THE EXECUTIVE DIRECTOR TO DISBURSE FUNDS, AT HIS DISCRETION, ON A REIMBURSEMENT BASIS OR DIRECTLY TO VENDORS, UPON PRESENTATION OF INVOICES AND SATISFACTORY DOCUMENTATION; FURTHER AUTHORIZING THE EXECUTIVE DIRECTOR TO APPROVE BUDGET MODIFICATIONS UNDER THE GRANT, PROVIDED THAT THE OVERALL AMOUNT OF GRANT FUNDING APPROVED HEREIN IS NOT EXCEEDED; FUNDS TO BE ALLOCATED FROM SEOPW TAX INCREMENT FUND, ENTITLED "OTHER GRANTS AND AIDS," ACCOUNT CODE NO. 10050.920101.883000.0000.00000. City of Miami Page 3 Printed on 8/4/2014 SEOPW Community Redevelopment Agency Marked Agenda July 30, 2014 File # 14-00696 Cover Memo.pdf File # 14-00696 Financial Form.pdf File # 14-00696 Backup.pdf File # 14-00696 Legislation.pdf CRA-R-14-0053 MOVED: SECONDED: Francis Suarez Marc David Sarnoff Motion that this matter be ADOPTED PASSED by the following vote. AYES: Chair Hardemon, Vice Chair Gort, Commissioner Suarez and Commissioner Sarnoff ABSENT: Commissioner Carollo 4. CRA RESOLUTION 14-00719 NON AGENDA ITEM(S) NA.1 14-00777 A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("CRA"), WITH ATTACHMENT(S), APPROVING AND ADOPTING THE CRA'S PROPOSED GENERAL OPERATING TAX INCREMENT FUND BUDGET FOR THE FISCAL YEAR COMMENCING OCTOBER 1, 2014 AND ENDING SEPTEMBER 30, 2015 SET FORTH IN ATTACHMENT "A"; DIRECTING THE EXECUTIVE DIRECTOR TO TRANSMITA COPY OF SAID BUDGET TO THE CITY OF MIAMI AND MIAMI-DADE COUNTY. File # 14-00719 Cover Memo.pdf 14-00719-Legislation (Version 2).pdf 14-00742-Exhibit-SUB.pdf CRA-R-14-0054 MOVED: SECONDED: Francis Suarez Marc David Sarnoff Motion that this matter be ADOPTED WITH MODIFICATIONS PASSED by the following vote. AYES: Chair Hardemon, Vice Chair Gort, Commissioner Suarez and Commissioner Sarnoff ABSENT: Commissioner Carollo CRA DISCUSSION REQUEST MADE BY BOARD MEMBER SARNOFF TO EXECUTIVE DIRECTOR, CLARENCE E. WOODS, FORA STATUS REPORT ON BLOCKS 45, 55 AND 56; DETAILING WHETHER ANY CONTRACTORS HAVE FULFILLED THEIR CONTRACTUAL OBLIGATIONS AND/OR MADE ANY MODIFICATIONS. SAID REPORT IS DUE AT THE NEXT SEOPW CRA MEETING. City of Miami Page 4 Printed on 8/4/2014 SEOPW Community Redevelopment Agency Marked Agenda July 30, 2014 ADJOURNMENT DISCUSSED The meeting adjourned at 6:33 p.m. City of Miami Page 5 Printed on 8/4/2014