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HomeMy WebLinkAboutCRA-R-07-0051 Legislation• • City of Miami Legislation CRA Resolution City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 07-01493 Final Action Date: A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY AUTHORIZING GRANTS, IN A TOTAL AMOUNT NOT TO EXCEED $240,000, TO KING OF POULTRY, INC., DA CANDY SHOP, INC., JAMES FORBES, DERRICK COLEMAN, AND MILANO PASTA & PIZZA, CORP. FOR INTERIOR BUILD -OUT OF SIX RETAIL BAYS AT NEW ARENA SQUARE, 268 NW 11 STREET, MIAMI, FL, UNDER THE RENOVATION/TENANT IMPROVEMENT GRANT INITIATIVE AUTHORIZED BY RESOLUTION NO. CRA-R-07-0034; AUTHORIZING THE EXECUTIVE DIRECTOR, AT HIS DISCRETION, TO DISBURSE THE GRANT FUNDS ON A REIMBURSEMENT BASIS, OR DIRECTLY TO SUB -GRANTEES AND VENDORS, UPON PRESENTATION OF INVOICES AND SATISFACTORY DOCUMENTATION; FUNDS TO BE ALLOCATED FROM SEOPW TAX INCREMENT FUND, "OTHER GRANTS AND AIDS," ACCOUNT CODE NO, 10050.920101.883000.0000.00000. 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, attracting new businesses, and providing better employment opportunities for residents are stated objectives of the Redevelopment Plan, at page 13, Section III. B.; and WHEREAS, the Board of Commissioners, by Resolution CRA-R-07-0034, passed and adopted on July 30, 2007, authorized funding, in an amount not to exceed $500,000, for grants to businesses in the vicinity of the CRA's 3rd Avenue Business Corridor for renovations and tenant improvements, provided that any grant in excess of $4,500 be presented to the Board for ratification: and WHEREAS, the CRA advertised the availability of this grant program; and WHEREAS, the CRA has identified five businesses in need of grant assistance for tenant improvements to the retail space at New Arena Square; and WHEREAS, the building's owner has agreed to perform the construction, and signed a restrictive covenant limiting the rent charged on the retail space to $500 per month per bay, for a period of five years; and WHEREAS, the Board of Commissioners wishes to authorize grants for the tenant improvements; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE • SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY OF THE CITY Citj' of Ilion;i Page 1 of 2 Printed On: 12/6/200 File Number: 07-01493 • • 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. Grants, in a total amount not to exceed $240,000, to King of Poultry, Inc., Da Candy Shop, Inc., James Forbes, Derrick Coleman, and Milano Pasta & Pizza, Corp. for interior build -out of six retail bays at New Arena Square, 268 NW 11 Street, Miami, FL, under the renovation/tenant improvement grant initiative authorized by Resolution No. CRA-R-07-0034, is authorized. Section 3. The Executive Director is authorized to execute all documents necessary for said purpose. Section 4. The Executive Director is authorized, at his discretion, to disburse the grant on a reimbursement basis, or directly to sub -grantees and vendors, upon receipt of invoices and satisfactory documentation. Section 5. Funds are to be allocated from SEOPW Tax Increment Fund, "Other Grants and Aids," Account Code No. 10050.920101.883000.0000.00000. Section 6. This Resolution shall become effective immediately upon its adoption. AS APP 0 FORM AND CORRECTNESS: JORGE L F NANDEZ GENERA CcUNSEL Cif}' cif Miami Page 2 of 2 Printed On: 12/6/2007