HomeMy WebLinkAboutCRA-R-12-0010 02-27-12 Cover MemoSEOPW Board of Commissioners Meeting
February 27, 2012
SOUTHEAST OVERTOWN/PARK WEST
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Michelle Spence -Jones Date: February 17, 2012 File: 12-00164
and Members of the CRA Board
From: Pieter A. Bockweg
Executive Director
Subject: Grant to DMP for its "Wrap -Around Building
Rehab Program"
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 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" ("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 blighted 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 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 this Program.
JUSTIFICATION:
A stated redevelopment principle of the 2009 Southeast Overtown/Park West Community
is "...the support and enhancement of existing businesses and local entrepreneurs and
businesses that provide needed services and economic opportunities," Principle 6, at page
Another redevelopment principle of the 2009 Southeast Overtown/Park West Community
is "streets and buildings must be attractive," Principle 10, at page 16.
This Resolution carries out these objectives.
FUNDING:
Redevelopment Plan
the attraction of new
15.
Redevelopment Plan
Funds to be allocated from SEOPW Tax Increment Fund, "Other Grants and Aids," Account No.
10050.920101.883000.0000.00000.