HomeMy WebLinkAboutCRA-R-10-0027 Cover Memo 4-26-2010SEOPW Board of Commissioners Meeting
April 26, 2010
SOUTHEAST OVERTOWN/PARK WEST
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Richard P. Dunn II
and Members of the CRA Board
Date: April 16, 2010 File: 10-00535
Subject: Resolution Authorizing a Grant to DMP
for its "Wrap -Around Building Rehab
Program."
From: James H. Villacorta 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 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:
Principle 6, on page 45 of the 2009 Southeast Overtown/Park West Community Redevelopment Plan lists ".. .
the support and enhancement of existing businesses and local entrepreneurs and the attraction of new
businesses that provide needed services and economic opportunities" as a stated redevelopment principle.
Principle 10, on page 16 of the 2009 Southeast Overtown/Park West Community Redevelopment Plan lists
"[s]treets and buildings must be attractive" as a stated redevelopment principle.
This Resolution fulfills these principles.
FUNDING: $325,000 from SEOPW Tax Increment Fund, "Other Grants and Aids," Account Code No.
10050.920101.883000.0000.00000.