HomeMy WebLinkAboutCRA-R-12-0012 02-27-12 LegislationCity of Miami
Legislation
CRA Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 12-00171
Final Action Date:
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY
AUTHORIZING THE PURCHASE OF THE REAL PROPERTY LOCATED AT 921
NW 2ND COURT AND 925 NW 2ND COURT WITHIN THE REDEVELOPMENT
AREA IN FURTHERANCE OF THE BOARD'S COMMITMENT TO PROVIDING
LOW INCOME, AFFORDABLE HOUSING, PROVIDED THAT THE PURCHASE
PRICE IS SUBSTANTIATED BY NO LESS THAN TWO (2) APPRAISALS FROM A
CERTIFIED MEMBER OF THE APPRAISAL INSTITUTE (MAI), AUTHORIZING
FUNDING IN AN AMOUNT NOT TO EXCEED $235,000, FROM FUNDS
BUDGETED FOR THE BOARD'S COMMITMENT TO SAID HOUSING; FURTHER
AUTHORIZING THE EXECUTIVE DIRECTOR TO EXECUTE ALL DOCUMENTS
NECESSARY FOR SAID PURPOSE, IN A FORM ACCEPTABLE TO SPECIAL
COUNSEL; FUNDS TO BE ALLOCATED FROM SEOPW TAX INCREMENT FUND,
ENTITLED "LAND ACQUISITION," ACCOUNT CODE NO.
10050.920101.661000.0000.00000.
WHEREAS, the Southeast Overtown/Park West Community Redevelopment Agency ("CRA") is
responsible for carrying out community redevelopment activities and projects within its Redevelopment
Area in accordance with its approved Redevelopment Plan; and
WHEREAS, Section 2, Goal 3/Principle 2, at pages 11 and 14, of the Southeast Overtown/Park
West Community Redevelopment Plan lists "[c]reating infill housing," and "[t]he neighborhood has to
retain access to affordable housing," as stated objectives; and
WHEREAS, the purchase of property within the redevelopment area will facilitate various
projects and further the Board's commitment to providing low income, affordable, and workforce
housing; and
WHEREAS, the purchase price shall be substantiated by no less than two (2) appraisals from
certified Members of the Appraisal Institute (MAI); and
WHEREAS, the Board of Commissioners wishes to authorize the CRA's purchase of real
property within the redevelopment area located at 921 NW 2nd Court and 925 NW 2nd Court, for an
amount not to exceed $235,000, in the furtherance of the Board's commitment to provide low income
affordable housing;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE
SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY OF THE CITY
OF MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted
by reference and incorporated herein as if fully set forth in this Section.
City of Miami Page 1 of 2 File Id: 12-00171 (Version: 1) Printed On: 2/17/2012
File Number: 12-00171
Section 2. The Executive Director is authorized to purchase real property within the
redevelopment area in furtherance of the Board's commitment to providing low income, affordable and
workforce housing, located at 921 NW 2nd Court and 925 NW 2nd Court, for an amount not to exceed
$235,000.
Section 3. The Executive Director is authorized to execute all documents necessary for said
purpose, in a form acceptable to Special Counsel.
Section 4. Funds are to be allocated from the SEOPW Tax Increment Fund, entitled "Land
Acquisition," Account Code No. 10050.920101.661000.0000.00000.
Section 5. This resolution shall become effective immediately upon its adoption
APPROVED AS TO FORM AND CORRECTNESS:
JULIE O. BRU
GENERAL COUNSEL
City ofMiami Page 2 of 2 File Id: 12-00171 (Version: l) Printed On: 2/17/2012