HomeMy WebLinkAboutCRA-R-07-0044 Cover Memo•
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SEOPW & Omni Boards of Commissioners Meeting
October 29, 2007
Item # 4
SOUTHEAST OVERTOWNIPARK WEST
AND OMNI
COMMUNITY REDEVELOPMENT AGENCIES
INTER -OFFICE MEMORANDUM
To: Board Chair Michelle Spence -Jones
and Members of the CRA Board
Date: October 19, 2007 File: 07-01339
Subject: Authorizing Payment to FPL for Phase 4
(NW 3rd Ave Portion) of the 9th Street Mall
Overhead to Underground Conversion
From: James H. Villacorta References:
Executive Director
Endosures: Supporting Documentation,
Legislation
BACKGROUND:
The attached resolution authorizes final payment, in an amount not to exceed $343,387.20, to Florida Power &
Light Company for the Overhead to Underground Conversion and Facility Upgrade for the Northwest 9th Street
Pedestrian Mall Alternate Phase 4. The City of Miami Commission by Resolution 98-592, adopted June 9,
1998, designated NW 3`d Avenue from NW 8th Street to NW 10th Street as a "Priority Pilot Project." The CRA by
Resolution No. SEOPW/CRA 98-14, adopted on June 30, 1998, directed the "promot[ionj and support [of]
commercial developments along the NW 3`d Avenue business corridor . . . by constructing infrastructure
improvements and other amenities for new and expanding businesses." By Resolution No. SEOPW/CRA 01-
45, adopted on May 21, 2001, the CRA Board of Commissioners authorized Phase 4 of the overhead to
underground electrical conversion project.
JUSTIFICATION:
Support for commercial businesses on the NW 3rd Avenue business corridor fulfills the Redevelopment Plan
objective of "maintaining existing business[esj" as set forth in Section III. B. at page 13 of the plan. The total
cost of the conversion was $569,502.59; however, the CRA's liability is limited to $508,543.20. The CRA has
previously paid $165,156 leaving a balance of $343,387.20. The project is complete and final payment is due.
FUNDING SOURCE: $343,387.20 from SEOPW Tax Increment Fund, "Construction in Progress," Account
Code No. 10050.920101. 670000.0000.00000.
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