HomeMy WebLinkAboutCRA-R-08-0002 LegislationCity of Miami
Legislation
CRA Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 0S-00095
Final Action Date:
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY
AUTHORIZING THE ISSUANCE OF A GRANT, IN AN AMOUNT NOT TO EXCEED
$165,000,TO JINT HOLDINGS, LLC TO REHABILITATE NINE (9) RESIDENTIAL
RENTAL UNITS AT 1201 N.W. 2ND AVENUE, MIAMI, FLORIDA; AUTHORIZING
THE EXECUTIVE DIRECTOR, AT HIS DISCRETION, TO DISBURSE THE GRANT
FUNDS ON A REIMBURSEMENT BASIS, OR DIRECTLY TO VENDORS, UPON
PRESENTATION OF INVOICES AND SATISFACTORY DOCUMENTATION;
AUTHORIZING THE EXECUTIVE DIRECTOR TO EXECUTE ALL DOCUMENTS
NECESSARY FOR SAID PURPOSE; ALLOCATING FUNDS FROM SEOPW TAX
INCREMENT FUND, ENTITLED "CONSTRUCTION IN PROGRESS," ACCOUNT
CODE NO. 10050.920101.670000.0000.00000.
WHEREAS, the Southeast Overtown/Park West Community Redevelopment Agency ("CRA")
is responsible for carrying out redevelopment activities and projects in the Southeast Overtown/Park
West Redevelopment Area; and
WHEREAS, on December 18, 2006, the Board of Commissioners directed the CRA to identify
housing units in need of rehabilitation; and
WHEREAS, Section III.B, at page 13, of the Southeast Overtown/Park West Redevelopment
Plan lists "rehabilitation of existing housing, replac[ing] dilapidated housing, [and] [plrovid[ing]
opportunit[ies] for residents to continue to live in Overtown" as stated objectives; and
WHEREAS, JINT Holdings, LLC owns a nine (9) unit residential building at 1201 N.W. 2nd
Avenue in Overtown; and
WHEREAS, the building is subject to rent -restrictions through programs administered by the
City of Miami's Department of Community Development; and
WHEREAS, the units are in need of rehabilitation and JINT Holdings, LLC has requested a
grant to rehabilitate the units; and
WHEREAS, in exchange for the grant, JINT Holdings, LLC has agreed to execute a restrictive
covenant requiring compliance with the Department of Community Development's rent -restrictions for
a period of five (5) years; and
WHEREAS, the Board of Commissioners wishes to authorize the grant;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE
SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY OF THE CITY
OF MIAMI, FLORIDA:
City' of Miami
Page d of 2 Printed On: 1/23/2008
File Number: 08-00095
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Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted
by reference and incorporated as if fully set forth in this Section.
Section 2. A grant, in an amount not to exceed $165,000, to JINT Holdings, LLC for the
rehabilitation of nine (9) residential units at 1201 N.W. 2nd Avenue, Miami, Florida, is authorized.
Section 3. The Executive Director is authorized, at his discretion, to disburse grant funds on a
reimbursement basis, or directly to vendors, upon presentations of invoices and satisfactory
documentation.
Section 4. The Executive Director is authorized to execute all documents necessary for said
purpose.
Section 5. Funds are to be allocated from SEOPW Tax Increment Funds, entitled
'Construction in Progress," Account Code No. 10050.920101.670000.0000.00000.
Section 6. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND CORRECTNESS:
JORERNANDEZ
GENERAL COUNSEL
City of Miami
Page 2 of 2
Printed On: 1/23/2008