HomeMy WebLinkAboutCRA-R-11-0052 10-24-2011 Cover MemoSEOPW Board of Commissioners Meeting
October 24, 2011
SOUTHEAST OVERTOWN/PARK WEST
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Michelle Spence -Jones Date: October 17, 2011 File: 11-00953
and Members of the CRA Board
From: Pieter A. Bockweg
Executive Director
Subject: Payment for CRA Property Taxes, 1201
Northwest Third Avenue
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 expenditure of
funds, in an amount not to exceed Thirteen Thousand ($13,000), for the payment of 2011 real estate property
taxes on CRA owned property, located at 1201 Northwest Third 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 annually for rent income. This is not a tax exempt use of the property.
JUSTIFICATION:
Pursuant to Florida Statute Chapter 163.370(2)(c)(1), the CRA purchased the property, located at 1201
Northwest Third Avenue, Miami, Florida for redevelopment purposes.
In accordance to Florida Statute Chapter 163.370(2)(e)(4) the CRA leased the property to two commercial
tenants, from whom the CRA is currently receiving approximately $24,000 annually in rent.
The property's current use is a taxable use, and the CRA must pay property taxes to tol prevent encumbrances
on the title of the property.
This Resolution carries out these objectives.
FUNDING: $13,000 from SEOPW Tax Increment Fund, Account Code No. 10050.920101.549000.0000.00000.