HomeMy WebLinkAboutCRA-R-06-0002 LegislationCity of Miami
Legislation
CRA Resolution
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3500 Pan American
Drive
Miami, FL 33133
www.ci.miami.fl.us
File Number: O5-01487 Final Action Date:
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY
AMENDING RESOLUTION NO. CRA-R-05-0049, ESTABLISHING THE
OVERTOWN SMALL BUSINESS GRANT INITIATIVE, TO INCLUDE WORKING
CAPITAL AS AN ELIGIBLE USE OF GRANT FUNDS PROVIDED THAT THIS USE
SHALL NOT EXCEED 25% OF THE TOTAL GRANT.
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, by Resolution No. CRA-R-05-0049, passed and adopted on November 3, 2005,
the Board of Directors established the Overtown Small Business Grant Initiative 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; and
WHEREAS, including working capital as an eligible use of grant funds is essential to enable the
businesses to take advantage of the benefits of the initiative; and
WHEREAS, the Board of Directors wishes to authorize the inclusion of working capital as an
eligible use provided that this use shall not exceed 25% of the total grant;
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 herein as if fully set forth in this Section.
Section 2. Resolution No. CRA-R-05-0049, establishing the Overtown Small Business Grant
Initiative, is amended to include working capital as an eligible use of grant funds provided that this use
shall not exceed 25% of the total grant.
Section 3. This Resolution shall become effective immediately upon its adoption.
APPROVED A TO FORM AND CORRECTNESS:
JORGE L. FE NAN I EZ
GENERAL CO NS L
u
City of Miami
Page 1 of 2 Printed On: 1/18/2006
File Number. 05-01487
City of Miami Page 2 of 2 Printed On: 1/18/2006