HomeMy WebLinkAboutCRA-R-10-0026 Legislation 05-13-2010OF ,
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City of Miami
Legislation
CRA Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 10-00533 Final action Date:
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY
AUTHORIZING THE PURCHASE OF THE PROPERTY AT 300 NORTHWEST
ELEVENTH STREET, MIAMI, FLORIDA, FOR AN AMOUNT NOT TO EXCEED
$300,000, PLUS CUSTOMARY CLOSING COSTS, ADJUSTMENTS, AND
PRORATIONS; AUTHORIZING SUCH INSPECTIONS AND DUE DILIGENCE
DEEMED NECESSARY BY THE EXECUTIVE DIRECTOR; AUTHORIZING THE
EXECUTIVE DIRECTOR TO EXECUTE ALL DOCUMENTS NECESSARY FOR
SAID PURPOSE, IN A FORM ACCEPTABLE TO SPECIAL COUNSEL; FUNDS TO
BE ALLOCATED FROM SEOPW TAX INCREMENT FUND, "PURCHASE LAND,"
ACCOUNT CODE NO. 10050.920101.662000.0000.00000.
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; and
WHEREAS, Section 2, Goal 1/Principle 8, at pages 11 and 15, of the 2009 Southeast
Overtown/Park West Community Redevelopment Plan, lists "[p]reserving historic buildings and
community heritage" by "[restoring] older buildings that embody the area's cultural past should be
restored;" as stated redevelopment goals; and
WHEREAS, the property at 300 N.W. 11th Street is registered with the State of Florida and the
City of Miami as a historic site; and
WHEREAS, the CRA's purchase of said property would allow for its continued preservation as a
historic site, as well as provide a multi -purpose meeting center for residents within the Redevelopment
Area;
WHEREAS, the CRA retained Investors Research Associates, Inc., who has appraised the
property at $300,000; and
WHEREAS, the owner has agreed to sell the property at the appraised value; and
WHEREAS, the Board of Commissioners, by Resolution No. CRA-R-08-0014, passed and adopted
on February 25, 2008, authorized the purchase of land within the Redevelopment Area in furtherance
of the Board's commitment to providing low income, affordable, and workforce housing; and
WHEREAS, the Board of Commissioners wishes to purchase said property, for an amount not to
exceed $300,000, plus customary closing costs, adjustments, and prorations, for historic preservation
and to provide residents within the Redevelopment Area a multi -purpose meeting center;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE
City of Miami
Page 1 of 2 File Id: 10-00533 (Version: 11 Printed On: 5/5i2010
File Number: 10-00533
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. The purchase of the property located at 300 Northwest Eleventh Street, Miami, Florida,
for an amount not to exceed $300,000, plus customary closing costs, adjustments, and prorations, is
authorized.
Section 3. The Executive Director is authorized to perform such inspections and due diligence
deemed necessary.
Section 4. The Executive Director is authorized to execute all documents necessary for said
purpose, in a form acceptable to special counsel.
Section 5. Funds to be allocated from SEOPW Tax Increment Fund, "Purchase Land," Account
Code No. 10050.920101.662000.0000.00000.
Section 6. This resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND CORRECTNESS:
WILLIAM R. BLOOM
SPECIAL COUNSEL
City of .Lliunii
Page 2 of 2 File /d: 10-00533 1[ersion: 1) Printed 0n: 5/5/2010