HomeMy WebLinkAboutCRA-R-04-0001 Cover Memo- Royal Palm EntertainmentCRA Board of Dora Meeting
July 26, 2004
RE. 3
File No. 04-00825
SOUTHEAST OVERTOWN/PARK WEST
AND OMNI
COMMUNITY REDEVELOPMENT AGENCIES
INTER -OFFICE MEMORANDUM
To: Chairman Arthur E. Teele
And Members of the CRA Board
Date: JUL 1 6 2EE4 File:
Subject: Authorization to Negotiate with Royal
Palm Entertainment, LLC. on an Office
Building Development Project
From: Pink K. Roiason References:
Executive Director
Enclosures: Resolution
RECOMMENDATION:
It is recommended that the Board of Directors for the Southeast Overtown/Park West Community
Redevelopment Agency approve the attached Resolution authorizing the Executive Director to begin
negotiations with Royal Palm Entertainment, LLC. (RPE), land owner, concerning the development of
their private property located on the south side of the Grand Promenade and abutting North Miami
Avenue on the west and the U-Haul building property on the east with the intent of developing a
proposal which will ultimately include owned office space for the CRA as well as an "Environmental
Hotel" facility for the clubs along the Grand Promenade.
JUSTIFICATION:
Royal Palm Entertainment, LLC. (RPE) has approached the CRA proposing that we consider partnering
with them in some fashion in an office building development on their property adjacent to the Grand
Promenade. There are several elements that the CRA brings to the table (land and potential capital)
which makes it attractive for RPE to partner with the CRA. The proposed Resolution would allow the
Executive Director to negotiate with RPE in a nonbinding manner to determine if it is feasible to
develop a proposal advantageous to both parties. Should such a proposal be developed, it would be
submitted to the Board of Directors for consideration.
No Fiscal Impact - Preliminary negotiations only.
FKR/eh