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HomeMy WebLinkAboutCRA-R-10-0016 Cover Memo Version 3 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 Date: February 1, 2010 File: 09-01191 and Members of the CRA Board 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. From: James H. Villacorta `1 References: Executive Director 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 riot 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.