HomeMy WebLinkAboutCRA-R-08-0014 Legislation-Version 2 02-25-08City of Miami
Legislation
CRA Resolution
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3500 Pan American
Drive
Miami, FL 33133
www,miamigov.conn
File Number: 1)8-00193
Final Action Date:
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: 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 FROF11
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;
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
area in furtherance of the Board's commitment to providing low income, affordable and workforce
housing, provided that the purchase price of any parcel shalt not exceed 10% of the appraised value.
Section 3. Funds are authorized, in an amount not to exceed $2,000,000, from funds budgeted
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File Number: 08•00193
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.
AS APPROVED AS TO FORM AND CORRECTNESS:
11/1ARIA J. CHIA
INTERIM GENERAL COUNSEL
C)
City of Miami
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