HomeMy WebLinkAboutCRA-R-10-0008 Cover Memo 2-11-2010SEOPW & Omni Boards of Commissioners Meeting
February 11, 2010
SOUTHEAST OVERTOWN/PARK WEST
AND OMNI
COMMUNITY REDEVELOPMENT AGENCIES
INTER -OFFICE MEMORANDUM
To: Board Chair Marc D. Sarnoff
and Members of the CRA Board
From: James H. Villacort J
Executive Director(
Date: February 1, 2010 File: 10-001191
Subject: Resolution Ratifying Payment of
Real Estate Taxes on the Property
at 1201 N.W. 3rd Avenue, Miami, FL.
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 ratifying the expenditure of funds,
in an amount not to exceed $12,620, for the payment of 2009 real estate property taxes on the property at 1201
N.W. 3rd Avenue, Miami, Florida.
The CRA purchased the property at 1201 N.W. 3rd Avenue, Miami, Florida on January 29, 2009, for the
purpose of redeveloping the site as a mixed -use housing and retail project. At the time of purchase, the building
was occupied by two commercial tenants who have continued to pay rent. This use is not a tax exempt use, and
the CRA must pay real estate taxes on the property. The CRA receives approximately $24,000 in rent from its
commercial tenants, and made payment on December 15, 2009 to take advantage of the discount offered for
payment received by December 31, 2009.
JUSTIFICATION:
Payment of the taxes will prevent encumbrances on the title to the property.
FUNDING: $12,620 from SEOPW Tax Increment Fund, "Other Current Charges — Property Taxes,"
Account Code No. 10050.920101.549000.0000.00000,