HomeMy WebLinkAboutCRA-R-10-0016 Cover Memo 3-15-2010SEOPW Board of Commissioners Meeting
March 15, 2010
SOUTHEAST OVERTOWN/PARK WEST
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Richard P. Dunn II
and Members of the CRA Board
From: James H. Villacort
Executive Director
Date: March 5, 2010 File: 09-01191
Subject: Resolution Authorizing a Grant to Two
Guys Restaurant, Inc. for Tenant
Improvements to the Commercial Space
at 236 N.W. 14th Street, 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 authorizing a grant, in an amount
not to exceed $260,000, to Two Guys Restaurant, Inc., for tenant improvements to the space at 236 N.W. 14th
Street, Miami, Florida.
The Board of Commissioners, by Resolution No. CRA-R-07-0034, passed and adopted on July 30, 2007,
authorized funding, in an amount not to exceed $500,000, for grants to businesses in the vicinity of the CRA's
3rd Avenue Business Corridor for renovations and tenant improvements, provided that any grant above $4,500
be presented to the Board for ratification.
The CRA owns the building at 1201 N.W. 3rd Avenue, Miami, Florida, and is soliciting proposals to redevelop
the site as a mixed -use housing and retail project. Two Guys Restaurant, Inc. ("Two Guys") is a tenant in the
building, a portion of which has been declared an unsafe structure by the City of Miami. The CRA must relocate
Two Guys before undertaking redevelopment of the building.
Two Guys has entered into a lease for space at 236 N.W. 14th Street, Miami, Florida, and is seeking a grant to
assist with tenant improvements.
JUSTIFICATION:
Section 2, Goal 4/Principle 6, at pages 11 and 15, of the 2009 Southeast Overtown/Park West Community
Redevelopment Plan lists "creating jobs within the community" which "entails both the support and enhancement
of existing businesses and local entrepreneurs and the attraction of new businesses that provide needed
services and economic opportunities."
This Resolution accomplishes these objectives.
FUNDING: $260,000 from. SEOPW Tax Increment Fund, "Other Grants and Aids,' Account Code No.
10050.920101.883000.0000.00000.