HomeMy WebLinkAboutCRA-R-05-0049City of Miami
Legislation
CRA Resolution: CRA-R-05-0049
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 05-00963 Final Action Date: 11/3/2005
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("CRA")
AUTHORIZING THE ESTABLISHMENT OF THE OVERTOWN SMALL BUSINESS
GRANT INITIATIVE, IN A TOTAL AMOUNT NOT TO EXCEED $200,000, TO
PROVIDE GRANTS FOR CAPITAL IMPROVEMENTS, EQUIPMENT PURCHASES,
AND/OR STRENGTHENING OF THE ASSET OR INVENTORY BASE OF
LONG-TIME SMALL BUSINESSES THAT EMPLOY OVERTOWN RESIDENTS AND
ARE LOCATED IN THE GENERAL VICINITY OF THE CRA's 3RD AVENUE
BUSINESS CORRIDOR; PROVIDING THAT THE PROGRAM SHALL BE
ADMINISTERED BY THE EXECUTIVE DIRECTOR, THAT NO SINGLE GRANT
SHALL EXCEED $50,000, AND THAT GRANTS IN EXCESS OF $4,500 SHALL BE
PRESENTED TO THE BOARD FOR APPROVAL OR RATIFICATION;
AUTHORIZING THE EXECUTIVE DIRECTOR TO EXECUTE ALL DOCUMENTS
NECESSARY FOR SAID PURPOSE; FUNDS TO BE ALLOCATED FROM SEOPW
TAX INCREMENT FUND, "OTHER GRANTS AND AIDS," ACCOUNT CODE NO.
689001.550108.6.940.
WHEREAS, the Southeast Overtown/Park West Community Redevelopment Agency ("CRA")
is responsible for carrying out community redevelopment activities and projects within the Southeast
Overtown/Park West Redevelopment Area in accordance with its approved Redevelopment Plan; and
WHEREAS, maintaining existing businesses and providing employment opportunities for
residents is a stated objective of the Redevelopment Plan; and
WHEREAS, at the July 25, 2005 Board of Director's meeting, the Executive Director was
directed to identify funds and develop a program to assist businesses along the 3rd Avenue business
corridor in the Overtown area; and
WHEREAS, a grant program has been developed to provide financial assistance to long-time
small businesses in Overtown; and
WHEREAS, the SEOPW CRA Board of Directors wishes to approve the Overtown Small
Business Grant Initiative;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY OF THE CITY
OF MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted
by reference and incorporated as if fully set forth in this Section.
City of Miami
Page 1 of 2 File Id: 05-00963 (Version: 1) Printed On: 9/14/2011
File Number: 05-00963 Enactment Number: CRA-R-05-0049
Section 2. The establishment of the Overtown Small Business Grant Initiative, in a total
amount not to exceed $200,000, to provide grants for capital improvements, equipment purchases,
and/or strengthening of the asset or inventory base of long-time small businesses that employ
Overtown residents and are located in the general vicinity of the CRA's 3rd Avenue business corridor
is authorized.
Section 3. The Overtown Small Business Grant Initiative shall be administered by the
Executive Director, no single grant shall exceed $50,000, and grants in excess of $4,500 shall be
presented to the Board of Directors for approval or ratification.
Section 4. The Executive Director is authorized to execute all documents necessary for said
purpose.
Section 5. Funds are to be allocated from SEOPW Tax Increment Fund, "Other Grants and
Aids," Account Code No. 689001.550108.6.940.
Section 6. This Resolution shall become effective immediately upon its adoption.
City of Miami Page 2 of 2 File Id: 05-00963 (Version: 1) Printed On: 9/14/2011