HomeMy WebLinkAboutCRA-R-07-0062City of Miami
Legislation
CRA Resolution: CRA-R-07-0062
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 07-01567 Final Action Date:
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY WITH
ATTACHMENTS, DIRECTING THE EXECUTIVE DIRECTOR TO BUDGET
APPROXIMATELY $237 MILLION OVER THE NEXT TEN YEARS FOR
AFFORDABLE AND WORK FORCE HOUSING; INFRASTRUCTURE; JOB
CREATION/ECONOMIC DEVELOPMENT; PARKS AND SPACES; ARTS AND
CULTURE; AND QUALITY OF LIFE IMPROVEMENT INITIATIVES IN THE CRA
REDEVELOPMENT AREA.
WHEREAS, the Overtown /Park West Community Redevelopment Agency (the "CRA") is
responsible for implementing activities and projects designed to revitalize and redevelop the CRA
redevelopment area (the Redevelopment Area"); and
WHEREAS, replacing dilapidated housing, removing slum and bighted conditions, and promoting
better employment opportunities and upward job mobility for residents are stated objectives of the
CRA's redevelopment plan described in the 1982 Southeast Overtown/Park West, as amended
(the "Redevelopment Plan"); and
WHEREAS, the CRA Redevelopment Area should generate approximately $237 million, net of
debt services, through fiscal year 2017 (the "TIF Revenues") ; and
WHEREAS, in order to fulfill the stated objectives of the Redevelopment Plan and encourage and
leverage private sector investment in the Redevelopment Area, the Board of Commissioners of
the CRA (the "Board") wish to specifically designate the expenditures infrastructure; job
creation/economic development; parks and open spaces; arts and culture; and quality of life
improvement initiatives ( the "Targeted Categories") in the Redevelopment Area.
NOW THEREFORE BE IT RESOLVED BY THE BOARD OF THE CRA OF THE CITY OF MIAMI,
FLORIDA:
Section 1. The recitals and findings contained in the Preamble to the resolution are adopted by
reference and incorporated herein as if set forth in this Section.
Section 2. The executive director of the CRA is directed to target the expenditure of TIF Revenues
the Targeted Categories in the relative percentages described in Exhibit "A", attached hereto and
incorporated herein by reference.
Section 3. This resolution shall become effective immediately upon its
adoption.
City of Miami Page 1 of 2 File Id: 07-01567 (Version: 11 Printed On: 1/4/2023
File Number: 07-01567 Enactment Number: CRA-R-07-0062
City of Miami Page 2 of 2 File Id: 07-01567 (Version: 1) Printed On: 1/4/2023