Loading...
HomeMy WebLinkAboutCRA-R-10-0012 Cover Memo 3-11-2010Omni Board of Commissioners Meeting March 11, 2010 OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY INTER -OFFICE MEMORANDUM To: Board Chair Marc D. Sarnoff and Members of the CRA Board From: James H. Villacort Executive Director Date: March 1, 2010 File: 10-00304 Subject: Resolution Authorizing a Grant to DMP For its "Wrap -Around Building Rehab Program." References: Enclosures: Supporting Documentation; Legislation BACKGROUND: It is recommended that the Board of Commissioners of the Omni Redevelopment District Community Redevelopment Agency ("CRA") approve and adopt the attached Resolution authorizing the issuance of a grant, in an amount not to exceed $325,000, to Downtown Miami Partnership ("DMP") for its "Wrap -Around Building Rehab Program," to assist with improvements to residential and commercial properties within the Redevelopment Area. The improvements remain with the property and are directly related to the opening of a new business, improving an existing business, remedying code violations, providing ADA access, and eliminating blighting neighborhood conditions within the Redevelopment Area. This Program is a match grant program requiring a 25% match from the property or business owner; however, the match requirement is waived when the grant is used for residential buildings (including multi -unit apartment buildings) and those buildings occupied by "small businesses," as defined by the United States Small Business Administration. Each project has a cap of $65,000, exclusive of DMP's 20% administrative fee. The CRA has identified a number of residential and commercial properties within the Redevelopment Area that need attention and would benefit from participating in DMP's "Wrap -Around Building Rehab Program." JUSTIFICATION: Section 4.4.C., on page 41 of the 2009 Omni Area Community Redevelopment Plan lists "[m]aximiz[ing] conditions for residents to continue to live in the area" as a stated redevelopment objective. Section 4.4.E., on page 42 of the 2009 Omni Area Community Redevelopment Plan lists "[p]romot[ing] rehabilitation and maintenance of existing viable uses and structures" as a stated redevelopment objective. This Resolution accomplishes these objectives. FUNDING: $325,000 from Omni Tax Increment Fund, "Other Grants and Aids," Account Code No. 10040.920101.883000.0000.00000.