HomeMy WebLinkAboutCRA-R-09-0010 Cover MemoSEOPW & Omni Boards of Commissioners Meeting
January 26, 2009
Item # 13
SOUTHEAST OVERTOWNIPARK WEST
AND OMNI
COMMUNITY REDEVELOPMENT AGENCIES
INTER -OFFICE MEMORANDUM
To: Board Chair Michelle Spence -Jones Date: January 16, 2009 File: 09-00034
and Members of the CRA Board
From: James H. Villacort,
Executive Director
Subject: Resolution Authorizing Exercise of the CRA's
Option to Include the Miami World Center
Project in the DRI Increment Ill.
References:
Enclosures: Supporting Documentation;
Legislation
BACKGROUND:
It is recommended that the Board of Commissioners of the Southeast Overtown/Park West Community
Redevelopment Agency ("CRA") approve and adopt the attached Resolution authorizing the Executive Director
to exercise the CRA's option to expand the agreement with The Curtis Group for implementation of Increment 11I
of the CRA's Master Development Order as a Development of Regional Impact to include the Miami World
Center Project, at a cost not to exceed $500,000.
The Board of Commissioners, by Resolution No. CRA-R-08-0043, passed and adopted on September 3, 2008,
authorized the Executive Director to execute a professional services agreement with The Curtis Group, in an
amount not to exceed $743,500, for implementation of Increment 111 of the CRA's Master Development Order
within the existing CRA boundaries ("DRI Agreement"). As the timing and scope of the Miami World Center
project was still in flux, the DRI Agreement provided an option to include the Miami World Center Project at an
additional cost not to exceed $500,000. The Miami World Center Group has now asked to be included in
Increment III.
JUSTIFICATION:
Implementation of Increment Ill will facilitate redevelopment of the Southeast Overtown/Park West Community
Redevelopment Area by obtaining approval of development credits for the area. Inclusion of the Miami World
Center Project in the requested development program will assist in the realization of the project.
FUNDING: $500,000 from SEOPW Tax Increment Fund, "Professional Services — Other," Account Code No.
10050.920101.531000.0000.00000.
JHV/pk