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SEOPW & Omni Boards of Commissioners Meeting
July 30, 2007
Item # 12
SOUTHEAST OVERTOWN/PARK WEST
AND OMNI
COMMUNITY REDEVELOPMENT AGENCIES
INTER -OFFICE MEMORANDUM
To: Board Chair Michelle Spence -Jones
and Members of the CRA Board
From: James H. Villacorta' `jam
Executive Director(/
BACKGROUND:
Date: July 30, 2007 File: 07-00884
Subject: Expansion of Wrap -Around Grant Program
To Historic Buildings
References:
Enclosures: Legislation
On November 3, 2005, the Boards of Commissioners approved a grant to Downtown Miami Partnership ("DMP")
for a Wrap -Around Building Rehab Program which includes: 1) A Commercial Buikjing Rehabilitation Program;
2) A Residential Building Rehabilitation Program; 3) A Hardscape and Landscape Improvement Program; and 4)
A Tenant ImprovementlVanilla Box Program. The attached joint resolution authorizes expansion of the grant
program to include preservation and rehabilitation of historic buildings and provides additional funds.
JUSTIFICATION:
Preserving historic buildings and sites, removing slum and blighted conditions, reinforcing the property tax base,
providing incentives for redevelopment of blighted properties, and promoting rehabilitation and maintenance of
existing viable uses and structures are all stated objectives of both the Southeast Overtown/Park West and
Omni Redevelopment District Redevelopment Plans. This resolution furthers those objectives by expanding the
existing grant program to historic buildings.
FUNDING SOURCE: $225,000 from SEOPW Tax Increment Fund, "Other Grants and Aids," Account Code No.
10050.920101.883000.0000.00000; $225,000 from OMNI Tax Increment Fund, "Other Grants and Aids,"
Account Code No. 10040.920101.883000.0000.00000.
JHV/eh