HomeMy WebLinkAboutCRA-R-08-0014City of Miami
Legislation
CRA Resolution: CRA-R-08-0014
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 08-00193 Final Action Date: 2/25/2008
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY
AUTHORIZING THE PURCHASE OF LAND WITHIN THE REDEVELOPMENT AREA
IN FURTHERANCE OF THE BOARD'S COMMITMENT TO PROVIDING LOW
INCOME, AFFORDABLE, AND WORKFORCE HOUSING, PROVIDED THAT THE
PURCHASE PRICE OF ANY PARCEL SHALL NOT EXCEED 10% OF THE
APPRAISED VALUE AND PROVIDED THAT THE FIRST PROPERTY PURCHASED
SHALL BE THE PARCEL VALUED AT $ 962,000 NEEDED FOR THE JAZZ VILLAGE
PROJECT; AUTHORIZING FUNDING, IN AN AMOUNT NOT TO EXCEED
$2,000,000, FROM FUNDS BUDGETED FOR THE BOARD'S COMMITMENT TO
SAID HOUSING; AUTHORIZING THE EXECUTIVE DIRECTOR TO EXECUTE ALL
DOCUMENTS NECESSARY FOR SAID PURPOSE, IN A FORM ACCEPTABLE TO
SPECIAL COUNSEL; FUNDS TO BE ALLOCATED 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 community redevelopment activities and projects in accordance with its
redevelopment plans; and
WHEREAS, the Board of Commissioners ("Board"), by Resolution No. CRA-R-06-0045,
passed and adopted on October 30, 2006, directed the Executive Director to budget $30,000,000
over the next five (5) years for low income, affordable, and workforce housing to be built in the
redevelopment area; and
WHEREAS, the purchase of property in the redevelopment area will facilitate various projects
and further the Board's commitment to providing low income, affordable, and workforce housing; and
WHEREAS, the Board of Commissioners wishes to authorize the CRA's purchase of property
within the redevelopment area provided that the purchase price of any parcel shall not exceed 10% of
the appraised value and provided that the first property purchased shall be the parcel valued at
$962,000 needed for the Jazz Village Project;
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:
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. The Executive Director is authorized to purchase of land within the redevelopment
City of Miami Page 1 of 2 File Id: 08-00193 (Version: 21 Printed On: 1/4/2023
File Number: 08-00193 Enactment Number: CRA-R-08-0014
area in furtherance of the Board's commitment to providing low income, affordable and workforce
housing, provided that the purchase price of any parcel shall not exceed 10% of the appraised value
and provided that the first property purchased shall be the parcel valued at $ 962,000 needed for the
Jazz Village Project.
Section 3. Funds are authorized, in an amount not to exceed $2,000,000, from funds
budgeted for the Board's commitment to said housing.
Section 4. The Executive Director is authorized to execute all documents necessary for said
purpose, in a form acceptable to Special Counsel.
Section 5. Funds are to be allocated from the SEOPW Tax Increment Fund, entitled
"Construction in Progress," Account Code No. 10050.920101.670000.0000.00000.
Section 6. This Resolution shall become effective immediately upon its adoption.
City of Miami Page 2 of 2 File Id: 08-00193 (Version: 21 Printed On: 1/4/2023