HomeMy WebLinkAboutCRA-R-10-0098 11-29-2010 Cover MemoSEOPW Board of Commissioners Meeting
November 29, 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: Pieter A. Bockweg
Lq -
Executive Director
Date: November 19, 2010 File: 10-01318
Subject: 1201 N.W. 3rd Avenue Property Taxes.
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 ratifying the expenditure of funds,
in an amount not to exceed $12,540.03, for the payment of 2010 ad valorem taxes on the property at 1201 N.W.
3rd Avenue, Miami, Florida ("Property").
The CRA purchased the Property in January 2009 for the purpose of redeveloping the site as a mixed -use
residential and retail building. The building currently has two commercial tenants, from whom the CRA receives
approximately $24,000/year for rent. This is not a tax exempt use of the property.
Payment of the taxes prior to November 30, 2010 will allow the CRA to take advantage of available discounts.
JUSTIFICATION:
Payment of property taxes will preventencumbrances on the title of the property.
FUNDING: $12,540.03 from SEOPW Tax Increment Fund, "Other Current Charges," Account Code No.
10050.920101.549000.0000.00000.