HomeMy WebLinkAboutCRA-R-09-0019 Legislation•
City of Miami
Legislation
CRA Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov com
File Number: 08-01108 Final Action Date:
RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("CRA")
AUTHORIZING REIMBURSEMENT, IN AN AMOUNT NOT TO EXCEED $600,000,
TO BAYVIEW TOWERS ASSOCIATES, LLC FOR CONVEYANCE OF PROPERTY
AND A PORTION OF THE COST OF RENOVATING THE 9TH STREET
PEDESTRIAN MALL; AUTHORIZING THE EXECUTIVE DIRECTOR TO EXECUTE
ALL DOCUMENTS NECESSARY FOR SAID PURPOSE, IN A FORM
ACCEPTABLE TO SPECIAL COUNSEL; ALLOCATING FUNDS FROM SEOPW
TAX INCREMENT FUND, "CONSTRUCTION IN PROGRESS," ACCOUNT CODE
NO. 10050.920101.6700000.0000.00000.
WHEREAS, the Southeast Overtown/Park West Community Redevelopment Agency ("CRA")
is responsible for carrying out community redevelopment activities and projects within the
Redevelopment Area in accordance with its approved Redevelopment Plan ("Plan"); and
WHEREAS, the CRA owned the property beneath the Bayview Towers Apartments at 800
North Miami Avenue ("Property"), and had entered into a 99-year ground lease for said property with
Bayview Towers Associates, LLC ("Bayview"); and
WHEREAS, in February of 2003, as part of a planned conversion to condominiums, Bayview
submitted a proposal to the CRA for the purchase of fee simple title to the Property; and
WHEREAS, after issuance of a Request for Proposals, the Board of Commissioners, by
Resolution No. CRA-R-05-0007, passed and adopted on January 31, 2005, authorized the sale of the
Property to Bayview; and
WHEREAS, as a condition of the sale, on September 2, 2005, the CRA and Bayview entered
into a Covenant Running with the Land Agreement, which provided, among other things, that in
addition to paying the CRA 7% of gross sales, Bayview would be obligated to expend not less than
Three Hundred Thousand Dollars ($300,000.00) in hard construction costs for renovation of the 9th
Street Pedestrian Mall; and
WHEREAS, in performing the renovation, it was determined that a portion of the north and
south sides of the 9th Street Pedestrian Mall was constructed on property owned by Bayview, and
Bayview has conveyed that property to the City of Miami; and
WHEREAS, Bayview ultimately expended in excess of $1,200,000 on the renovation of the 9th
Street Pedestrian Mall; and
WHEREAS, Bayview has requested that the CRA compensate Bayview for conveyance of the
0 property and reimburse Bayview a portion of the cost for said renovations by paying $300,000, and
City of Miami
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File Number: 08-01108
allowing an offset of an additional $300,000 against future amounts due the CRA from sales of the
units; and
WHEREAS, the Board of Commissioners wishes to authorize said reimbursement, in an
amount not to exceed $600,000, in the manner provided above;
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. Reimbursement, in an amount not to exceed $600,000, to Bayview Towers
Associates, LLC for conveyance of land and a portion of the cost of renovating the 9th Street
Pedestrian Mall, is authorized.
Section 3. The Executive Director is authorized to execute all documents necessary for
said purpose, in a form acceptable to Special Counsel.
Section 4. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND CORRECTNESS:
• WILLIAM R. BLOOM
SPECIAL COUNSEL
•
Cis), of Miami
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