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HomeMy WebLinkAboutSEOPW CRA 2014-07-30 MinutesCity of Miami City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com of • IN Q9▪ IEP 99 i �YD Meeting Minutes Wednesday, July 30, 2014 5:00 PM Camillus House 1603 NW 7th Ave., Building B Miami, FL 33136 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 SEOPW Community Redevelopment Agency Meeting Minutes July 30, 2014 FINANCIALS RESOLUTIONS 1. 14-00711 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 CRA RESOLUTION 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 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 City of Miami Page 2 Printed on 8/18/2014 SEOPW Community Redevelopment Agency Meeting Minutes July 30, 2014 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 File #14-00711 Signed Legislation.pdf Motion by Board Member Suarez, seconded by Vice -Chair Gort, that this matter be ADOPTED PASSED by the following vote. Votes: Ayes: Chair Hardemon, Vice Chair Gort, Commissioner Suarez and Commissioner Sarnoff Absent: Commissioner Carollo CRA-R-1 4-0051 Chair Hardemon: At 5:36 [sic], July 30, 2014, I'd like to call this most historic meeting to order. As we can see on the agenda, there are no minutes to approve until September's meeting, so we're going to move on to RE.1, and I'd just like to record for the record the presence of Commissioner Suarez, Commissioner Gort and Commissioner Sarnoff Clarence Woods (Executive Director, Southeast Overtown/Park West Community Redevelopment Agency): Commissioners, Resolution Number 1 is a resolution of the Board of Commissioners of the Southeast Overtown/Park West Community Redevelopment Agency with attachments, amending and supplementing Resolution Number CRA-R-12-0061, adopted by the Agency on September 17, 2012, as amended, and supplemented by Resolution Number CRA-R-13-0025, adopted by the Agency on March 25, 2013 under Resolution Number CRA-R-13-0039, adopted by the Agency on June 24, 2013; which Resolution Number 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 Agency area, and provided for and authorized the 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 of 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 2014,4 Bonds; City of Miami Page 3 Printed on 8/18/2014 SEOPW Community Redevelopment Agency Meeting Minutes July 30, 2014 authorizing a negotiated sale of the Series 2014A Bonds in an aggregate principal amount not to exceed $60 million; 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 Series 2014A Bonds and to the Agency's tax -advantaged bonds hereafter issued; and providing an effective date. Commissioners, I guess to sum it up -- I wish I could have made it shorter -- but basically, what we're here for is to approve the parameters for our issuance of the Southeast Overtown/Park West revenue bonds, which you guys -- which you Commissioners have authorized for the Agency to seek for the redevelopment of projects. On the memorandum, it basically spells out those provisions in the first line or the first bullet, really. It says: The amount of the 2014 Series `A" Bond will not be less -- I'm sorry -- will not be now [sic] less than $43.5 million, and not to exceed $60 million in aggregate principal amount. The aggregate underwriting discount, including management fee and expenses shall not exceed .9 percent of the aggregate amount of the 2014 Series "A" Bonds. The aggregate interest rate with respect to the Series 2014A Bonds will not be more than six and a half percent, and the maturity date will not be later than March 31, 2030. Those are the parameters set. It is our intent to go to market at some point in August. I have an actual schedule here that will detail the final -- I mean the last stretches of where we are in the process. Once we actually have an approval from you guys tonight, the intent is to go to market at mid -August to close on the bonds. Chair Hardemon: Thank you very much. At this time, I'm going to open up the floor for public hearing on this item. If there's anyone who'd like to speak on the item, please step forward to the mike. You're recognized, sir. Al Crespo: Show biz, pal. Unidentified Speaker: I hear; you're standing right there. Mr. Crespo: Good afternoon, Mr. Chairman, Members of the Board. My name is Al Crespo. I'm neither -- I'm not here to speak for or against the bonds, themselves. I am here, though, to speak about some expenditures related to the bonds. I got the packet of information on the bonds, and I found a page in that packet that described all the attorneys who were involved in the process, and they were the City Attorney; special Agency attorney, Holland & Knight; Bond counsel Foley and Lardner; associate counsel, Law Offices of Richard Cooper; disclosure counsel, D. Stettin & Associates, and I submitted a public records request to the CRA (Community Redevelopment Agency), and yesterday, I went to the offices, spoke to Mr. Woods. He provided me a four page memorandum that he had received either Monday or yesterday from Foley & Lardner, Law Office of Richard Cooper and D. Steson -- Stettin & Associates, which was a four -page description of the services they had provided the CRA, and in the last page, there's a paragraph, and it had a significant quote in here that: "We believe the appropriate fee for bond counsel in connection with the issuance of the bonds is $430, 000, plus expenses, and that the appropriate fee for disclosure counsel in connection with the issuance of these bonds is $301,000, plus expenses." I asked Mr. Woods whether or not he had any documentation that accompanied this memorandum, either billing fees, invoices, or receipts for expenditures, and he told me he had not received any. So I'm asking, you know, are there going to be any invoices and/or receipts? Secondly, I asked Mr. Woods the question about the payment of Mr. Cooper City of Miami Page 4 Printed on 8/18/2014 SEOPW Community Redevelopment Agency Meeting Minutes July 30, 2014 with Foley & Lardner, and why wasn't there a separate breakout of cost for each of these individuals; you know, Foley & Lardner get so much money; Mr. Cooper gets so much money. And it was explained to me -- and correct me if I'm wrong -- that it was all going to be one payment, and Foley & Lardner would pay the -- Mr. Cooper; am I correct in saying it? Mr. Woods: Well, we didn't have that -- Chair Hardemon: Before we move on -- Mr. Crespo: Okay, so -- Chair Hardemon: -- your two minutes have expired. Mr. Crespo: -- that's -- so I'm curious about that and -- Chair Hardemon: Mr. Crespo -- Mr. Crespo: -- I'm concerned about this, because in addition to these $430,000 -- Chair Hardemon: Mr. Crespo. Mr. Crespo: Yes. Chair Hardemon: Your two minutes have expired. Mr. Crespo: Can I have two minutes? Thank you. There's also the $301, 000 for the disclosure counsel, and there's also the cost of $131,134.80 that was paid out last year to Holland & Knight, and the reason that Holland & Knight was paid off last year in this instance I was told is that they provided the former Chairman of this committee with what was excellent advice on how to proceed with this bond offering. She rejected that excellent advice and they decided that they could no longer support and go forward with the CRA on this issue, so the CRA paid them off. So in effect, you've got a situation where $562,134 has been paid or will be paid in legal fees; $301, 000 for this disclosure counsel. That's $863,134.80. You haven't sold a bond yet, right? And that's a considerable amount of money, and I think it's an amount of money that should be explained, and there should be some receipts. And there's also the issue of -- you know, for me, I'm curious about the breakout of why there needed to be an associate counsel when Foley & Lardner is a national law firm with 40 lawyers in their Miami office, and why did they have to go outside of their law firm to find Mr. Cooper to become a lawyer and assist in this process? And I did some research and discovered that Mr. Cooper is the executive director of the League of Cities. He gets paid $100, 000 a year, $25, 000 in benefits, and 70,000 -- and $7, 000 in expense account. Isn't that a full-time job? That's more than you make, Clarence, right? So here's a guy who's -- can I have another two minutes. Unidentified Speaker: No. Chair Hardemon: I'm not -- I will not allow you to have another two minutes yielded to you. It's the decision of the Chair to allow someone to take an additional two minutes. It's a procedural issue, and I do it out of courtesy to give people more opportunity to speak; however, I will not allow the compounding, continual compounding of those minutes, so you asked your questions. I'm going to ask Mr. Woods to address them; then we're going to move forward. Mr. Crespo: Okay, so in closing -- Chair Hardemon: Okay. City of Miami Page 5 Printed on 8/18/2014 SEOPW Community Redevelopment Agency Meeting Minutes July 30, 2014 Mr. Crespo: -- I'd like to say that all of you people here want to know why, after 30 years, the CRA has gone over -- through $100 million plus, and why this community looks like it was bombed out five years ago, and all these empty lots are burnt, and grass has grown in all these empty lots regardless of this money. Everybody wants a piece of the action. Everybody wants a taste of the money. Chair Hardemon: Thank you very much. Mr. Crespo: And this is the first of it. There's going to be everybody picking on this money. Chair Hardemon: Thank you very much, sir. Mr. Crespo: You're welcome. Chair Hardemon: Do you remember any of the questions? Mr. Woods: First, with respect to how money would be disbursed between bond counsel and their associates, we didn't have that conversation, but we are in conversations with bond counsel as well as disclosure counsel in working on some more documentation to substantiate their payment, so that is happening. But the other thing is he suggested that we've paid out all of this money and we haven't sold a bond yet. We actually haven't paid out this money. This is -- this money would be a part of the cost of issuance, which comes with the sale of the bonds; that's taken out of the transaction. I don't remember what the other question was, but the thing is, I mean -- I think the other statement that he made that we've gone through $100 million and nothing has -- that's totally inaccurate. We have our history here of how much money the CRA has received in its existence; it's nowhere near $100 million, so that's totally inaccurate. Chair Hardemon: Commissioner Gort, you have something? Vice Chair Gort: I think the attorney should explain the process, how long it takes to put this document -- not only this document, but the whole document, the -- and all the procedure the attorney had to go through, so I think it's important for people to understand that. William Bloom (Special Counsel/Community Redevelopment Agency): (UNINTELLIGIBLE INAUDIBLE) Chair Hardemon: But before we move on, let me just acknowledge Commissioner Suarez. One second. Board Member Suarez: Well, you know, I think -- well, let's answer his question and then I'll -- Chair Hardemon: Okay, Mr. Bloom. Mr. Bloom: I think this is -- this has been a very complicated transaction; there are a lot of unique legal questions. You know, there is a fee structure that was previously negotiated with the City Attorneys Office dealing with what the fees would be and the disclosure counsel is supposed to be a percentage of what the bond counsel's fee is. The bond counsel is Foley, Lardner and Richard Cooper's firm combined, so there's just one fee, and between the two of them will split it up; it's not like there's an additional layer because of that representation. There is a fee agreement negotiated between the CRA and Foley & Lardner as far as how their fees would be calculated. And at this point, I believe the executive director is reviewing those issues with bond counsel due to various changes in the transaction, and the length of time, and the complexity, to see if the fee structure is fair to bond counsel and changes are fair to the Agency. And everything has been done to get the transaction completed as expeditiously as possible, given all the twists and turns that are involved in the transaction. City of Miami Page 6 Printed on 8/18/2014 SEOPW Community Redevelopment Agency Meeting Minutes July 30, 2014 Mr. Woods: And -- Chair Hardemon: You're recognized, Mr. Woods. Mr. Woods: Let me just -- Mr. Bloom spoke of the complexity of the transaction. We also started this transaction with Foley & Lardner in the very beginning in that there were several incidences that required for us to start and stop. At one point, when we were -- when we initially started this transaction, the City asked for us to stop, go out and seek our own counsel; they would not be a back -stop to this transaction, "Go and get your own counsel." That's when the executive director at that time chose to work with our special counsel; that's why there's a bill for Holland & Knight. And, of course, there was some disagreement about how we would proceed with the transaction, but this has been from 2011 up until this point. The amount of time that has been spent on this transaction and the twists and the turns, we're proud to be here at this point tonight, and, you know, we will be working with bond counsel, as well as disclosure counsel to get more information, and to try to justify their cost. But I don't want to limit, you know, the importance of getting a good understanding and making sure that their fees are properly represented, but I think the larger issue here is the fact that we're at this point after four years, and we're ready to do something that is -- Board Member Suarez: Mr. Chair. Mr. Woods: -- I think is going to be -- Chair Hardemon: You're recognized, Commissioner Suarez; and then I'll come back to you, Commissioner Gort. Board Member Suarez: You have a -- Vice Chair Gort: Well, I think you should also explain, because what's been stated in here, it's very important to state the disclosure of counsel, why it's needed for a bond transaction. Also, you need to explain what you had to go through, a validation procedure, because people need to understand that, okay? Mr. Bloom: One of the issues was at the timing of the transaction there was a question, because of the unique legal issues of how the funds were going to be disbursed to private developers, or to the homeowners, private homeowners in the Park West community that the bonds be validated. And there was a -- you know -- in the engagement letter, there was a fee set for $30, 000 for doing the validation, but there was also issues with the City as far as the SEC (Securities & Exchange Commission) investigation and the IRS (Internal Revenue Service) investigation that consumed an awful lot of time with the disclosure counsel dealing with the City Attorneys Office, getting explanations, and updates, and then the -- just the issues with the tax increment revenues coming from the County, and issues with respect to the alleged cap on those revenues and how we were going to deal with those issues, you know; created variations and had to constantly redo the schedules. It took a lot of hard work, particularly on the part of disclosure counsel to make sure that the documents accurately reflect the state of affairs so that there's no question about the accuracy of any of the representations being made by the Agency as part of the sale of the bonds. Again, you know, this is not an easy transaction. You know, you'll recall in the interlocal agreement that was signed in 2007 with the County that there were 10 projects that were carved out starting in 2017 where the City and the County were each obtaining shares of those tax increment revenues that hadn't been paid in the past, and again, was trying to interpret those documents and come up with schedules so everyone would understand it, and to make sure that the revenues coming to the Agency were not overstated in those documents again. I think disclosure counsel did a fabulous job in analyzing those situations, and understanding them, and being able to properly document, based upon the input from lots of different people. City of Miami Page 7 Printed on 8/18/2014 SEOPW Community Redevelopment Agency Meeting Minutes July 30, 2014 Vice Chair Gort: Thank you. Chair Hardemon: You have something, or you want me to continue the public hearing? Board Member Suarez: You know what? No, let me -- let me say -- let me chime in a little bit on this issue, and I hesitate whenever you're talking about lawyers, 'cause it's always a touchy subject, 'cause it's hard to defend it sometimes. You know, in this particular case, you're also -- I think we're losing sight of the fact that we are issuing bonds within the ambit of two SEC charges; one is a charge and the other one is an investigation, which heightens the scrutiny, heightens the risks that are taken by the law firms that are involved and makes it generally much, much more difficult to issue bonds under those conditions. From what I know about the transactional world -- and I do mostly real estate, not as much lending -- two -- less -- it seems to be less than two percent of the entire cost of the issuance, which, to me, sounds reasonable in my world. I would ask the executive director whether that's standard and normal, an acceptable range, because it would suggest that 98 percent of the funds are going to be used for whatever costs are remaining and its intended purpose. Mr. Woods: Two percent, I've heard that number before. Board Member Suarez: Yeah. I mean, the number that I'm looking at here is, I mean, based on Mr. Crespo's estimation, is close to 800,000 in cost, and on the low end, if you're bonding out $40 million, that's two percent. Mr. Woods: Yeah. Board Member Suarez: So you're -- you know, and so I think it's important that we mention that this entire issuance is happening not only under the specter of a potential lawsuit with the County, but also two looming -- one pending SEC investigation and charges that have been formally levied against the City of Miami, so I don't think that's something that should be -- By the way, the $800, 000 in disclosure counsel and in bond counsel pales in the comparison to the two -- over $2 million or close to $2 million that we've had to pay in outside legal counsel fees to defend the SEC investigations. So, you know, I think the hope is that when you pay these kinds of lawyers, you avoid those payments in the future. Chair Hardemon: To me, I mean, when I see -- the fact that we're making this issuance in the climate that we're making it in today, it shows that this CRA is serious about some development within the Overtown community. This community has been promised so many different times, so many different ways, these projects and other projects that are yet to be determined, and this is symbolic; that's why this day is so important, because it shows that even with all of these issues that could be, we've done our due diligence enough to present a responsible document to this community where we can get started on the development that we've promised and that we've already started on Town Park North; now Town Park Village; Town Park South and any other projects that are set within this bond issuance. Are there -- is there anyone here else that would like to speak on this matter from the public? You're recognized, ma'am. Shoshana Lincoln: To the panel, Reverend Lincoln from People Helping People. Actually, I can concur with Crespo on some of his point. We, the people in Overtown, we suffer immensely, not having an environment, killing, and a lot of wrong things are going on in Overtown, and we have ample amount of monies to be spent in Overtown wisely, not bureaucratically, and not technicality, but practically to spend that money in Overtown, we will bring Overtown less than five years somewhat as other communities are making progress. Please do, Commissioner, bear with me. I am not critiquing anything here, but we do want to have a dignified community in Overtown. Doing so, we need to start streetscaping Overtown to beautify Overtown that our shopping center can work, and we don't have homeless people drinking beer in the bus stop City of Miami Page 8 Printed on 8/18/2014 SEOPW Community Redevelopment Agency Meeting Minutes July 30, 2014 when NET (Neighborhood Enhancement Team) Office don't care about that. Chair Hardemon: Thank you very much. And just in comment to that -- and Reverend Lincoln, this is part of the reason why, even in your project, in your apartment complex, while we were assured to make sure that we did everything that we could to beautify the section of the community that you live in Overtown, and that your apartment complex is in Overtown, because normally -- Reverend Lincoln, Reverend Lincoln, no, no, no, don't respond, don't respond. But this is -- that's what we're doing, so we're making sure that -- you're going to respond anyway, aren't you? Ms. Lincoln: Commissioner, you got my sincere profound gratitude for what you have done for our building, and for People Helping People. My aspiration has been shattered for what I came to Overtown to do, but I am profoundly grati -- giving my profound gratitude to all the Commissioner who have ratified that resolution. Chair Hardemon: Thank you so very much. You're recognized, sir. Willie Williams: Pastor Willie Williams, 1133 Northwest 3rdAvenue in Overtown. Commissioner, you know, it's not -- it's no doubt in my mind that you want to build a better community in this district, but we just need clarity. The people in Overtown need clarity when it comes to going about, you know, the bonds, as well as spending money on the behalf of the people of Overtown, because we are the only one affected by the spendage [sic] of the Commissioners, you know, on our behalf. So we just want things clear, and we just want to be more involved in what is going on, what is being decided on our behalf. Crespo was quite clear, you know, when he stood up here a minute ago, and he spoke about the transparency that need to be when it comes to this community, and I just concur that we need to also make sure that we walk and not run, you know, 'cause we can pay $5 for a breakfast instead of $50, you know, for a breakfast. I think, you know, the $5 would be suitable for us, because what we're trying to do, what we're trying to do in this community. I'm here in this community, and I'm fighting every day to try to make a difference through my presence, as well as the actions that I do, you know, in this community. So again, you know, I'm here to work with you all to make this a better Overtown, and I just believe that we can. Just be more transparent when it comes to the issues that we try to attempt to make on the behalf of the people in Overtown, and I believe you'll have less friction from Crespo, as well as others that is willing to speak tonight. Chair Hardemon: Thank you very much, sir. And I will say that this Board has been as transparent as possible when it comes to the issuance of these bonds. When I became Chairman, immediately, I wanted to clarify what was happening with the bonds, so from the very beginning, it's always about informing and educating this community about the bond issuance that was -- that could have been pending and that many people were trying to delay. But here we are today, because we have those -- we have these documents. These documents are not elementary school documents; they take time to read; they take time to understand; and even with explaining them, there are still questions that come not to just the community, but to even some professionals. But at the end of the day, we know that with our professional staff, with the lawyers that we've hired, and with the smart Commissioners that we have that we were presented a product that I think is good for this community. And when it comes to $5 for breakfast, my brother, in Overtown, we've been starving. We haven't had any money to buy breakfast in a very long time, right? So it's time for us to have something to eat. Unidentified Speaker: Amen for that, Commissioner. Deborah Roberts: Hi. My name is Deborah Roberts. I'm from 1804 Northwest 5th Place. I'm Board of Directors of Town Park Plaza South, and I just want to speak on behalf of the funding that we're looking forward since 2011. Just like you say, I totally -- I want something confirmed today, because we are in need of this money to facilitate our neighborhood and our community, City of Miami Page 9 Printed on 8/18/2014 SEOPW Community Redevelopment Agency Meeting Minutes July 30, 2014 and we was really looking forward to this money, and we really is thankful in advance for you approving this today, because it's a long time coming. And I'm quite sure all three Town Parks know that it's a long time coming. Now, let's stop and let -- yeah, we want to eat. We tired of $5 dinners. We want the $50 dinners, 'cause we haven't had any. Thank you. Chair Hardemon: Thank you very much. You're recognized, sir. Nathaniel Wilcox: My name is Nathaniel Wilcox. I'm executive director of PULSE, People United to Lead the Struggle for Equality; offices at 150 Northeast 19th Street. My comments will be very short. I feel that it's Overtown's time now for Overtown to grow and to prosper. And I hear a whole bunch of complaints about this problem, and that problem, and about funding and all these kind of things. Well, when you look at the stadium, they had problems, they had investigations going on. They had a whole bunch of other things going on when it was time to build the Marlins Stadium, and things are still not right. They're still not a world champion team, but the stadium sitting up out there. We got a deep hole in the ground called the tunnel; all these things. You got museums that have gone up out of that world trade agreement, that world agreement that the City has with the County and et cetera. All these other projects are going up all around us. All these projects had problems, too, but the thing about it, those problems were worked out with the funding and everything else; the investigations and all these type of things. So I don't -- in the back of my mind, I don't want to hear nothing about no investigations, nothing about, you know, bonding. The projects need to go forward, because Overtown deserves it, and the people of Overtown has been waiting for very long -- a very, very long time. Money has always been taken away from them, and I think about years ago when they had the tunnel -- not the tunnel -- they had Bayside. Money was promised for Overtown, but it went to Bayside, okay? So now, let's not sit around the table and grovel about 60 million or $45 million when hundreds of million dollars have been spent all around this County for communities that don't look like me. Chair Hardemon: You're recognized, ma'am. Jackie Bell: Jackie Bell, 1600 Northwest 3rdAvenue. October 23, 1973, a group of Overtown community people and myself started New Washington Heights Community Development Corporation for the purpose of where we are today. Even though New Washington Heights is not in any one of these particular projects, it is a pleasure for me to not be crying, but to be happy that today, we are going to move forward on redeveloping the promises that have been made to that community, and God bless -- I know Gwen must be turning over in her grave, shouting, saying, "Hallelujah, somebody have come along and we are doing something." So today, I am very happy. And to you, Mr. Wood [sic], I'd like to say this to you, and to you, Commissioner Gort: Thank you for working so hard and so diligently to attempt to bring to this community something. The only problem I have with it is that we are not a part of it, but -- because of the work we have done -- but that doesn't matter now; it is going to happen. And thank you, Commissioner Gort. You have been around a long time with me, andl know you must be happy too, 'cause you have seen us cry and beg. And to Frank Castaneda, I know he must be happy, also, because he has been a part of this. So thank you, and maybe next time, New Washington Heights will be a part, but thank you. Agnes Morton: Good evening. My name is Agnes Morton. I live at 1454 Northwest 43rd Street. I call myself a displaced resident from Overtown. Monday was the 118th birthday of the City of Miami, and one third of the men who signed the City Charter were black men; mostly Bahamian immigrants. So we have been around since the City became a City from a wilderness. My family was displaced from Overtown in the mid-1960s by eminent domain, and our community was uprooted; business destroyed; our folks separated. Many of us are still grieving this loss. Overtown has always been treated like a stepchild when it comes to getting its fair share of resources in all areas. There have been many broken promises from the powers to be in terms of revitalizing this community for its current and future residents. I am hoping that these political maneuvers regarding the funding for redevelopment will cease, because Overtown is continuing City of Miami Page 10 Printed on 8/18/2014 SEOPW Community Redevelopment Agency Meeting Minutes July 30, 2014 to suffer. I applaud the work of the Commissioner and the CRA for moving ahead with this development process. Thank you. Chair Hardemon: Is there anyone else from the public that would like to comment? Seeing none, I'm going to close the public hearing at this time. Board Member Suarez: Move it for discussion. Chair Hardemon: Is there a second? Vice Chair Gort: Second. Chair Hardemon: It's been properly moved and seconded that we approve RE.1. Commissioner Suarez. Board Member Suarez: Thank you, Mr. Chair, and I'm going to try not to be longwinded but I have to say that this is a watershed moment for the people of Overtown. I remember the Commission meeting where it was very contested and very tense, regarding whether we were going to bond out these funds. And the reason why we got here -- I think sometimes, people have to understand the reason why we're here and the reason why we wanted to bond this money out was, first and foremost, because there is a lot of people, unfortunately, that don't believe that CRA's should exist, and that believe that the money should not be going to this community, but should instead be going to the general fund of the City of Miami to pay for police, and fire, and any other general expenses. So what the former Chairperson saw was an attempt to essentially take the money from the CRA that was promised to this community by and through the CRA agreements and the establishment of the CRA, and decided that the safest thing to do was to borrow money against those future revenue streams so that no one could ever take those funds; that's why we're here. So I don't disagree with someone who -- from the public who might have a question about some of the cost involved in borrowing this money, because that's a legitimate question, you know, and it is two percent or less than two percent of the total amount. But I don't think we should lose sight of what we're doing here today, which is, we have a Chairman who, once he arrived, I issued him a challenge, and I think at the moment, he probably didn't understand where I was coming from, but he was very kind enough not to physically assault me, and took it as a challenge. And I think the challenge was that as a CRA Board Member and as a Commissioner, one of the most frustrating things for me has been knowing that we have monies in reserve, knowing that we have this bondable capacity, and seeing that in stark contrast with the poverty that we see in Overtown. And the other day, our former Chairman of the Commission, Commissioner Sarnoff and Chairman of the Omni CRA brought up a very good point about policing in our City, and the discussion revolved around hiring more police officers. And this gentleman to my left, the Chairman of the Overtown CRA said, "Wait a second. There's another cost for crime that we are glossing over, that we're not really paying attention to, and that's poverty." And, you know, it kind of stopped me in my tracks, and made me -- you know, we do listen, believe it or not. We do contemplate; we do make decisions on the basis of what we hear you say, what we hear each other say, and what we experience on a day-to-day basis. We're human beings, and we have hopefully hearts and souls, and are moved by -- that's why we're public servants; otherwise, we should get into some other line of work. But anyhow, you know, I think what he's done here is not allowed society, not allowed the things that want to stop you, the naysayers, and we have a community, and a City, and a County and a region full of naysayers; they're always telling you what you can't do. He has not allowed that to diminish his spirit, to slow him down, and he has pushed through it. He's accepted the challenge, and he's risen to the challenge, and I'm very proud to support him on this. You know, I hope that at some point soon, we talk about the lawsuit, because I feel like at the last meeting, I wasn't fully prepared and my position after having listened to some of the legal arguments has changed in ways that I think you'll be satisfied with. So I hope we do take on that challenge, 'cause I think it's a challenge that we need to meet head on, and I think the County -- you know, I suppose that City of Miami Page 11 Printed on 8/18/2014 SEOPW Community Redevelopment Agency Meeting Minutes July 30, 2014 the County will allow us to do it in a fair, quick -- hopefully -- and judicious way, because that's the other side of this discussion. But I think we should be proud of what we're doing here today. I think the bottom line is that, you know, we're going to have the ability with this money to make significant, significant investments and significant changes in the community. And it wouldn't have happened but for the Chairman's bullishness and leadership on this issue, I promise you, I promise you, because it would have been very easy for him to say, "Now we're stuck in another litigation, just like we were with Sawyer's Walk for how" -- 'for over a decade. We're just stuck in another litigation mess." Mr. Woods: Longer than that; longer than a decade. Vice Chair Gort: Twenty years. Chair Hardemon: Twenty years. Board Member Suarez: Right. Vice Chair Gort: Twenty years. Board Member Suarez: Two decades; my apologies. That's why Commissioner Gort's here, to remind me exactly how long it's been. But the bottom line is that it's very easy to become jaded in this position. It's very easy to let the powers that be slow you down or stop you, and it's very difficult to push through all that and get things accomplished. So I'm very proud of this achievement, and that's why I not only was thankful that he let me make the motion, but I'm fully in support of it. Thank you. Chair Hardemon: Thank you very much. Is there any other discussion from the dais? Vice Chair Gort: Yeah. I would like for the information of the public that it sits here; the projects that are going to be financed by this bond transaction. Mr. Woods: I'm sorry, Commissioner Gort, I didn't quite hear you. Vice Chair Gort: My understanding is there's four projects that are going to be financed -- to help finance these four transactions. Mr. Woods: Yes, four new construction projects. Vice Chair Gort: Four new, yes. I'd like for you to state it so the public is aware of it. Mr. Woods: One of the projects is Lyric Place Development, which is 158 units; another project is Island Living Apartments, 70 units; St. John Plaza Apartment, 90 units; and Courtside Apartments, another 84 units. Chair Hardemon: And the -- Vice Chair Gort: How about the -- go ahead. Chair Hardemon: You're recognized. Vice Chair Gort: The rehabs that are going to be taking place. Mr. Woods: The rehabs are: Town Park Village, 147 units and Town Park South, 116. Town Park North, we're undertaking already, but we're using our fund balance for that. City of Miami Page 12 Printed on 8/18/2014 SEOPW Community Redevelopment Agency Meeting Minutes July 30, 2014 Vice Chair Gort: All right. This is because of the bond issuance. How about the two or three major projects that's taking place not being financed by CRA? Mr. Woods: Those -- Vice Chair Gort: But we helped a lot. Mr. Woods: -- projects are Overtown Gateway, which is 270 -- up to 400 units of residential apartments, of which 60 of those units have to be affordable housing. It'll also consist of a minimum of 125 key hotel; 75,000 square feet of commercial space to include parking, to -- parking as required by zoning; that's one project. There's another project, which is the All Aboard Project, that -- where they'll house their base, their home office. That will be -- I think that's additionally 75,000 square feet of commercial space to -- well, I'm sorry -- office. It'll also have a thousand units of parking and some other retail on the ground floor. Vice Chair Gort: Thank you. Mr. Woods: Those are the two that you're talking about. Chair Hardemon: Commissioner Suarez. Board Member Suarez: Yeah. I was just going to say very briefly that one of the things that two of my Board Members to my left have convinced me of -- again, sometimes, you get very focused on one thing, and I think we're focused here in those bond issuance a lot on affordable housing, in redevelopment, which are obviously the principal concerns of the CRA, but Board Member Hardemon and Board Member Sarnoff have both always reminded me that you have to take a holistic view on trying to redevelop an area; it's not just about affordable housing; it's not just about policing. It's about jobs; it's about training people; it's about educating people. It's a holistic approach from the ground up, which is why I think the cap issue is so significant, because the cap issue will limit or un-limit the future funds of the CRA to continue to do some of these things that will allow us to have a very holistic approach to the redevelopment of the Overtown area. Chair Hardemon: Is there any other discussion; any other concerns? Hearing none, I'd like to have a roll call vote on this issue. Todd B. Hannon (City Clerk): Roll call on item RE.1. Commissioner Sarnoff. Board Member Sarnoff Yes. Mr. Hannon: Commissioner Gort. Vice Chair Gort: Yes, sir. Mr. Hannon: Commissioner Suarez. Board Member Suarez: Emphatically, yes. Mr. Hannon: Chair Hardemon. Chair Hardemon: Congratulations, Overtown. And just briefly, I'd like to say to my Board Members, thank you from the bottom of my heart. I thank you on the behalf of everyone here in Overtown. I thank you on the behalf of any Commissioners ever done this before; anyone that saw a vision in revitalizing this community. What you did here today was help one of your most struggling communities get to the point of where we can be proud of like every other community City of Miami Page 13 Printed on 8/18/2014 SEOPW Community Redevelopment Agency Meeting Minutes July 30, 2014 2. 14-00695 in the City of Miami that is not struggling, and you all did it unselfishly, and to that, I really do thank you. CRA RESOLUTION 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-ATLANTAAND 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 Motion by Board Member Sarnoff, seconded by Vice -Chair Gort, that this matter be ADOPTED PASSED by the following vote. Votes: Ayes: Chair Hardemon, Vice Chair Gort, Commissioner Suarez and Commissioner Sarnoff Absent: Commissioner Carollo CRA-R-14-0052 Chair Hardemon: Moving on to RE.2. Clarence Woods (Executive Director, Southeast Overtown/Park West Community Redevelopment Agency): Commissioners, Resolution Number 2 is a resolution of -- with attachments -- of the Board of Commissioners of the Southeast Overtown/Park West Community Redevelopment Agency authorizing the acceptance of a grant in an amount not -- an amount of $150,000 from the Federal Horne Loan Bank of Atlanta for the use in connection with the rehabilitation of Town Park Plaza North at 475 Northwest 19th Street, Miami, Florida; authorizing the executive director to execute the commitment letter with FHLB (Federal Horne Loan Bank) Atlanta, attached hereto as Exhibit "A," and the Affordable Housing Agreement with FHLB Atlanta and the Florida Community Bank, attached hereto as Exhibit "B"; further authorizing the executive director -- Chair Hardemon: Decorum, please; let nie have some quiet, decorum, please. Mr. Woods: -- to execute all other documents necessary for said purposes. Commissioners, if you remember, you had challenged the CRA's (Community Redevelopment Agencies) to find other ways to leverage the funding that we utilize in redeveloping the community. Here again is another grant, in addition to the $600, 000 that we received, for $150,000 that will go towards the rehab of Town Park Plaza North. He's not here now, but our grant writer, Xavier Vega, has worked diligently, and he has proved his worth. I'm sure he'll be glad to hear that I acknowledged him publicly, but he has been valuable, a valuable asset to the Redevelopment Agency. City of Miami Page 14 Printed on 8/18/2014 SEOPW Community Redevelopment Agency Meeting Minutes July 30, 2014 Chair Hardemon: Has he earned his salary yet? Mr. Woods: Maybe like 10 times over. Chair Hardemon: At this time, I'm going to open up this -- the public hearing for this item; is there anyone who would like to speak on it? Seeing none, I close the public hearing. Commissioners, is there any discussion? Vice Chair Gort: Move it. Board Member Sarnoff- So move. Vice Chair Gort: Second. Chair Hardemon: It's been properly moved and seconded that we approve RE.2, accepting the Federal Home Loan Bank grant. And, ma'am, although we did close the public hearing, do you want to speak briefly? I'll let you say one thing, sure. Tammy Cannon: Good evening, everyone. Thanks -- Chair Hardemon: Can you state your name -- Ms. Cannon: -- for the redevelopment -- Chair Hardemon: -- and address for the record? Ms. Cannon: -- community -- I'm sorry? Chair Hardemon: Can you state your name and address for the record? Ms. Cannon: My name is Tammy Cannon. I'm speaking on behalf of my mother, Ms. Emma Norelin. She's a 40-year resident of Town Park Plaza North, and a owner of one of the -- you know, we stay there, raised there, that's home. We just got a question. Everybody received their packets. Everybody received what they needed to do in Town Park North. The only thing that a lot of the residents are -- a lot of the owners are concerned about is the forgivable loan; that's not really clear. It gives them the definition of what it is. The main thing that we would like to know is what are the requirements, 'cause it states there that it's going to be forgivable by the lenders if the owners meet requirements, and they want to be clear on what those requirements are. Also, it was not given in their packets how much per owner, if they're -- you know, which they are qualified; they want to know that amount. I know my mom, she's very concerned about that, and the requirements that the owners need to meet in order to be eligible for that forgivable loan at the end of that five-year term. Chair Hardemon: Okay. And I don't think the acceptance of the Federal Loan [sic] Home Bank grant has anything to do with that; however, I now the CRA (Community Redevelopment Agency) will be having more informational sessions within the community. You'll get notice. Martha Wisby (phonetic) usually is the CRA liaison. She goes out in the community to make sure that everyone is informed about the meetings and things of that nature. So with that being said, you can look forward to having a meeting within Town Park North, like we had last time. Hopefully, you all come out, plus more; maybe we'll need a bigger room this time -- Ms. Cannon: Absolutely. Chair Hardemon: -- so that we can discuss all the different issues that are involved with the renovation. Okay? City of Miami Page 15 Printed on 8/18/2014 SEOPW Community Redevelopment Agency Meeting Minutes July 30, 2014 Ms. Cannon: Okay, thank you very much; that's our only concern. Chair Hardemon: Seeing no further concerns or questions, all in favor, indicate so by saying aye. The Board (Collectively): Aye. Chair Hardemon: All against? Motion passes. 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 FORA 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. File # 14-00696 Cover Memo.pdf File # 14-00696 Financial Form.pdf File # 14-00696 Backup.pdf File # 14-00696 Legislation.pdf Motion by Board Member Suarez, seconded by Board Member Sarnoff, that this matter be ADOPTED PASSED by the following vote. Votes: Ayes: Chair Hardemon, Vice Chair Gort, Commissioner Suarez and Commissioner Sarnoff Absent: Commissioner Carollo CRA-R-14-0053 Chair Hardemon: Moving on to RE.3. Clarence Woods (Executive Director, Southeast Overtown/Park West Community Redevelopment Agency): Commissioner, Resolution Number 3 is a resolution of the Board of Commissioners of the Southeast Overtown/Park West Community Redevelopment Agency authorizing the issuance of a grant in an amount not to exceed $50, 000 to the Black Archives History and Research Foundation of South Florida to underwrite costs associated with the continued operation of the Ward Rooming House Gallery Cultural Tourism Center for a period of one year; authorizing the executive director to execute all documents necessary for said purpose; further authorizing the executive director to disburse funds at his discretion, or on a reimbursement basis, or directly to vendors upon presentation of invoices and satisfactory documentation; further authorizing the City of Miami Page 16 Printed on 8/18/2014 SEOPW Community Redevelopment Agency Meeting Minutes July 30, 2014 executive director to approve budget modifications under the grant provided that all -- the overall amount of the grant funding approved herein is not exceeded. Commissioners, this particular item is a recurring item that we do every year, and Commissioner Sarnoff did ask for some statistics on the visitors that have come throughout the center, and I do have Tim Barber here, who actually -- from the Black Archives -- is overseeing the gallery and space, and maybe Tim can speak to some of those questions. Chair Hardemon: You're recognized, Mr. Barber. Timothy Barber: Sir, thank you. You have to excuse me; dental work, major root canal that I should have got redone a couple of months ago, but the Ward Gallery, what we're doing is -- has come online in 2012, I believe it was, and we've been facilitating rotating exhibits in the Ward Gallery. Now that the Lyric is online now, we're just trying to create and continue to create places that people can go in the Overtown area. Just this past week, we did a van camp, and during that van camp, I had a family reunion come through on a bus, and was able to go to the Ward Gallery, and Police Precinct, and the Lyric Theater, and this is just one of those projects that we want to keep open, because the more activity, the more we can keep these facilities open, the more people will have a reason to come over, and the more people will come and sit down to eat at Jackson Soul Food, House of Wings, Jackie's House, and things like that. So we definitely need this to keep this facility open. The numbers that he asked between 2013, for the whole year, we have a count of -- in this book alone, registration book is 522 names from January 1, 2013 to December 2013. That's not even including the guests that we had when we started the Expressions; that was the evening event we used to do once a month of poetry. And we went to Eventbrite, and we got those documentations down, and that's like another 350 people that come to the Expressions event that we was having there. But again, what it is, is trying to create positive traffic. I'm pleased to announce that I just -- if you go to YouTube, I just got a email (electronic) from Visit Florida. They were here and I walked them through the Overtown area. We walked through Jackson Soul Food -- ate at Jackson Soul Food, and they just released a video -- you could see it on YouTube -- that say, "A Historic Walk through Overtown"; just came by email about 4:30 that they did, and it's a great video that talks about the walking tour that we do in Overtown, and advertise the food that you can eat in Overtown. So all this is designed just to keep things going until the help comes, and that's what we're doing. Chair Hardemon: Thank you very much, sir. Is there anyone from the public would like to speak on the item? Commissioners, is there any discussion about the item; any questions? Board Member Sarnoff- My -- Chair Hardemon: Commissioner Sarnoff Board Member Sarnoff. Yeah. It isn't a significant amount of money. I'm not saying -- it's not that significant, but my question is -- and there's a budget here for the 50,000. I would have expected it to be laid out a little differently, and I thought it would have been -- a person would have been paid "X" dollars to spend "X" number of hours in the Ward Rooming House as a reception -- whatever it is. Mr. Woods: Well, we did talk about a report, but Tim had been quite busy with the van camp, and he did promise me that he'll probably get something for me. He does have all of the statistics in this book, but he doesn't have it in report fashion, and we probably will get that frorn him in a report fashion at some point. Chair Hardemon: Mr. Barber, when I look into the sight Administration, the Black Archives administrative support that -- it says 2014 year cost $8, 000, but it also reads that it's an in -kind. So does that mean that the administrative support that you provide to the Ward Rooming House is not a cost that you associate with the $50,000? City of Miami Page 17 Printed on 8/18/2014 SEOPW Community Redevelopment Agency Meeting Minutes July 30, 2014 4. 14-00719 Mr. Barber: No, no. Initially, when we first started the grant, to get it up and going, we had to do a lot of modifications to the building to make it -- get it museum ready. That was install solar shades and bring in a networking of things that we did the first year. If you look at the second year that -- those amounts for preparation were reduced. If you look at this year, there's no administrative dollars at the Black Archives. That's what -- what we're doing now is bringing in the artists that will rotate, create that Gallery. So, yes, what we're doing is in -kind; we're not asking for anything else. We just want to make sure we can bring the exhibit in, and we also have in there a dolson that would -- that is stationed. In the past, we've had a dolson stationed there that -- they open the Ward House from Tuesday through Saturday, and some Sundays. We've opened for special events and things like that just to keep activity going. So we do have in place a dolson that we hire that stays at this facility and keeps it open during those times. Board Member Sarnoff. What -- I'm -- what is the word you're using? Doe? Chair Hardemon: Dolson. Mr. Woods: Dolson. Chair Hardemon: Dolson. Can you explain to us? Mr. Barber: A dolson is a tour guide, so -- Board Member Sarnoff. Oh. Mr. Barber: -- it's a tour guide, someone that knows the facility that walk around, and we do train dolsons periodically to give the tours, so I'm not -- either myself or Dr. Fields not available, we're getting other people that they learn the history and take people through the facility. Board Member Sarnoff. Thank you. Mr. Barber: Thank you. Chair Hardemon: The Chair would entertain a motion. Board Member Suarez: So moved. Board Member Sarnoff: Second. Chair Hardemon: It's been properly moved and seconded that we approve item RE.3. Is there any further unreadiness? Hearing none, all in favor, say "aye." The Board (Collectively): Aye. Chair Hardemon: All against? Motion passes. CRA RESOLUTION 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"; City of Miami Page 18 Printed on 8/18/2014 SEOPW Community Redevelopment Agency Meeting Minutes July 30, 2014 DIRECTING THE EXECUTIVE DIRECTOR TO TRANSMIT A 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-S U B. pdf Motion by Board Member Suarez, seconded by Board Member Sarnoff, that this matter be ADOPTED WITH MODIFICATIONS PASSED by the following vote. Votes: Ayes: Chair Hardemon, Vice Chair Gort, Commissioner Suarez and Commissioner Sarnoff Absent: Commissioner Carollo CRA-R-1 4-0054 Chair Hardemon: Moving on to RE.4. Clarence Woods (Executive Director, Southeast Overtown/Park West Community Redevelopment Agency): Commissioners, Resolution Number 4 is a resolution of the Board of Commissioners of the Southeast Overtown/Park West Community Redevelopment Agency, with attachments, approving and adopting the CRA's (Community Redevelopment Agency) 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 transmit a copy of said budget to the City of Miami and Miami -Dade County. Commissioners, I want to include, and which I've already given the Clerk, a copy of the actual resolution, which was left out of the printing when we delivered the agendas to you. Chair Hardemon: At this time, I'm going to open up the floor for public hearing. Is there anyone from the public that'd like to speak on this item? Seeing none, I close the public hearing. Board Member Suarez: Move it for discussion. Board Member Sarnoff Second. Chair Hardemon: It's been properly moved and seconded that we approve RE.4. Commissioner Suarez. Board Member Suarez: Thank you, Mr. Chair. I'll be -- I'll try to be brief. I think it's significant for the public to understand that while there's an uptick on the legal services last year, because of these transactions, now we're seeing the corresponding reduction, which is that our legal service line item is going from 365 to 194, which is a significant decrease; almost a 50 percent decrease. You also have other professional services that are decreasing. You also have obviously debt service increasing for obvious reasons, because now, we're going to have to pay the bond that we just authorized its issuance. So you see also regular salaries going down somewhat significantly, even though that's not a line item breakdown; that's an overall. I think it's important whenever we look at the difference between what -- where the money's going, and how the money's being spent -- is it being spent on salaries or is it being spent on projects? Is it being spent on programs? -- et cetera, and that's a significant line item. That's -- those are my basic comments on the budget. Thank you. Chair Hardemon: Is there anyone for discussion; anyone else? One thing I also want to note, and it's even in the revenues, and we can see the impact of the variance from the revenue from the tax increments from the County, where you see the decrease in 611,186 plus the expanded bond, which is 120, 738. So we noted that these are -- this -- these will be the dollars and this -- especially because this past year, they took those monies from us -- that we expect to be taken away until we solve this issue. Mr. Woods: Exactly. City of Miami Page 19 Printed on 8/18/2014 SEOPW Community Redevelopment Agency Meeting Minutes July 30, 2014 Chair Hardemon: So we look to see that seven hundred and nearly forty thousand dollars to be re -- to be put back into the budget basically. Mr. Woods: Yes. Board Member Suarez: And I just want to say, Mr. Chair, to be clear for the record that nothing that we've done here today, including issuing the bond is in any way, shape or form an admission or waiver -- Mr. Woods: Absolutely, absolutely. Board Member Suarez: -- of our rights to fully prosecute what the CRA believes that they're owed by any entity. Chair Hardemon: That is correct. Any other discussion? Vice Chair Gort: Question. Chair Hardemon: Yes, sir. Vice Chair Gort: The other grants and aids, 36 -- as an expenditure -- 36 million, what is that? Mr. Woods: Miguel, other grants and aids. Miguel Valentin: Yes, sir. Could you repeat your question? Vice Chair Gort: The question is, when you look at the development and expenditure -- Mr. Valentin: Yeah. Vice Chair Gort: -- you look at the other grants, and thirty-six million dollars, one hundred and eight thousand. Mr. Valentin: Yeah. There was -- Chair Hardemon: Can you please announce yourself for the record? Announce yourself for the record, please. Mr. Valentin: Yeah. Uh -- Chair Hardemon: What is your name? Mr. Valentin: Miguel Valentin. Vice Chair Gort: Who do you work for? Mr. Valentin: CRA financial officer. Commissioner, I cannot tell you in detail why that decrease is being reflected, but what I'm able to tell you is that even though that amount looks substantial, I will tell you that 90 percent of that amount is already encumber through resolutions for projects that we have obtained your approval. Vice Chair Gort: Okay. Mr. Valentin: And I think we need to do the exercise of looking at each line item. I think we City of Miami Page 20 Printed on 8/18/2014 SEOPW Community Redevelopment Agency Meeting Minutes July 30, 2014 NON AGENDA ITEM(S) NA.1 14-00777 have like 40 -- let me see how many grants do we have -- we have more than 15 -- 61, 61 grants in total. And one of the grants that we are contemplating here is the fi{nds that we're going to be using in order to rehab Town Park North. We have $10 million here -- Vice Chair Gort: Right. Mr. Valentin: -- that we put aside for that. Vice Chair Gort: Okay. Now, the reason I'm ask is 'cause I don't have the backup material for that. Mr. Valentin: We forward -- Vice Chair Gort: And I think it's important to state where that money is being spent. Mr. Valentin: Okay, then. I have some copies, but I forwarded some copies to your office. Mr. Woods: We'll get you a copy, but I know it was delivered. Mr. Valentin: I have the breakdown with me. Mr. Woods: I know it was delivered, I mean, with the full breakdown. Vice Chair Gort: I just want to make sure we have the breakdown and we can show it. Mr. Woods: We do, we do. Vice Chair Gort: Okay. Chair Hardemon: Thank you very much, sir. If there is no -- I'll give my fellow Board Members an opportunity to review the document. Is there any further unreadiness? Hearing none, all in favor, indicate so by saying "aye." The Board (Collectively): Aye. Chair Hardemon: All against? Motion passes. 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. DISCUSSED Chair Hardemon: And -- Vice Chair Gort: Adjourn. City of Miami Page 21 Printed on 8/18/2014 SEOPW Community Redevelopment Agency Meeting Minutes July 30, 2014 Chair Hardemon: -- if all minds and hearts are clear -- Board Member Sarnoff Mr. Chair, before we adjourn -- Chair Hardemon: Yes. Board Member Sarnoff- -- can -- Mr. Director, would you at the next Southeast Overtown/Park West meeting report back on the status of Blocks 45, 55 -- what's the other one? Clarence Woods (Executive Director, Southeast Overtown/Park West Community Redevelopment Agency): Forty-five, 55 and 56. Board Member Sarnoff Fifty-six. I'd like to know whether any of the various contractors have fulfilled all the obligations; what the other contractors have fulfilled and where the differences are. And if it requires a legal memorandum, so be it; if it doesn't, that white paper will do just fine. Board Member Suarez: What about blue? Board Member Sarnoff . What's that? Or it could be blue paper. Chair Hardemon: And let's be clear so we know exactly what we're looking for. You want a report back on 45, 55 and 56, and what items; what about them? Board Member Sarnoff Whether everybody has fulfilled their contractual obligations. Board Member Suarez: Kind of a status update, essentially. Chair Hardemon: Okay. Board Member Sarnoff- A little more than status. Board Member Suarez: Yeah, I know, I know, I got you. Board Member Sarnoff- I want to know what we were supposed to have gotten by -- based on the words. Board Member Suarez: Understood. Board Member Sarnoff Has anybody made any modifications? Vice Chair Gort: Status report. Board Member Sarnoff- Okay, status report. Chair Hardemon: Thank you, ladies and gentlemen. I conclude this meeting at 6:34. The meeting adjourned at 6:33 p.m. City of Miami Page 22 Printed on 8/18/2014