HomeMy WebLinkAboutCRA-R-09-0009 LegislationCity of Miami
Legislation
CRA Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 09-00035 Final Action Date:
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY
AUTHORIZING A GRANT, IN AN AMOUNT NOT TO EXCEED $620,000, TO JINT
HOLDINGS, LLC TO REHABILITATE THIRTY-THREE (33) RESIDENTIAL RENTAL
UNITS AT 1232 N.W. 1ST PLACE, MIAMI, FLORIDA; AUTHORIZING THE
EXECUTIVE DIRECTOR, AT HIS DISCRETION, TO DISBURSE THE GRANT 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, IN A FORM ACCEPTABLE TO GENERAL
COUNSEL; ALLOCATING FUNDS FROM SEOPW TAX INCREMENT FUND,
"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 within the Redevelopment Area in
accordance with its approved Redevelopment Plan ("Plan"); 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 Plan lists "... rehabilitation of existing housing, . .
. [r]eplac[ment of] dilapidated housing, ...[and p]rovid[ing] opportunitfies] for residents to continue to
live in Overtown" as stated objectives; and
WHEREAS, JINT Holdings, LLC owns a thirty-three (33) unit residential building at 1232 N.W.
1st Place, Miami, Florida; 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 seven (7) years; and
WHEREAS, the Board of Commissioners wishes to authorize the grant, in an amount not to
exceed $620,000, to JINT Holdings, LLC for the rehabilitation of thirty-three (33) residential rental units
at 1232 N.W. 1st Place, Miami, Florida;
City of Miami Page 1 of 2 Printed On: 1/20/2009
File Number: 09-00035
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 as if fully set forth in this Section.
Section 2. A grant, in an amount not to exceed $620,000, to JINT Holdings, LLC to
rehabilitate thirty-three (33) residential units at 1232 N.W. 1st Place, Miami, Florida, is authorized.
Section 3. The Executive Director is authorized, at his discretion, to disburse grant 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, in a form acceptable to General Counsel.
Section 5. Funds are to be allocated from SEOPW Tax Increment Fund, "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:
e(2_,Ge044,t, ieBee-eo-Pel,
41111 WILLIAM R. BLOOM
SPECIAL COUNSEL
City of Miami Page 2 of 2 Printed On: 1/20/2009