HomeMy WebLinkAboutCRA-R-11-0014 03-10-2011 Cover MemoSEOPW Board of Commissioners Special Meeting
March 10, 2011
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
Executive Director
Date: March 4, 2011 File: 11-00170a
Subject: First Amendment to Camillus House Grant
Agreement
References:
Enclosures: 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 execution of an
amendment ("First Amendment") to that certain grant agreement dated May 13, 2010 between the CRA and
Camillus House, Inc.
The Board of Commissioners, by Resolution No. CRA-R-10-0040, passed and adopted on May 13, 2010,
authorized the issuance of a grant, in an amount not to exceed $10 million to Camillus House, Inc. to aid in its
proposed relocation to a new facility located at Northwest 7th Avenue, Miami, Florida, and the permanent
closing of its existing facility located at Northwest 8th Street, Miami, Florida.
Camillus House has experienced difficulties in obtaining the originally anticipated gap loan financing to complete
the project, and now seeks certain revisions to the grant agreement. The First Amendment will allow for the
early release of up to $6 million (including $2 million for past construction expenses) prior to the completion of
the project, subject to certain conditions; gives Camillus an additional year to complete the relocation; and
provides the CRA with an additional year to exercise its option to purchase the existing facility.
The proposed amendments will prevent the cessation of the construction of the new facility due to funding short
falls.
JUSTIFICATION:
Section 2, Goal 6/Principle 10, at pages 11 and 16, of the 2009 Southeast Overtown/Park West Redevelopment
Plan, lists the improvement of the quality of life for residents as a stated redevelopment goal.
Section 2, Goal 2/Principle 10, at pages 11 and 16, of the 2009 Southeast Overtown/Park West Redevelopment
Plan, lists the "[e]xpanding the tax base using smart growth principles," as a stated redevelopment goal.