HomeMy WebLinkAboutCRA-R-12-0018 03-29-12 Cover MemoSEOPW Board of Commissioners Meeting
March 29, 2012
SOUTHEAST OVERTOWN/PARK WEST
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Michelle Spence -Jones Date: March 21, 2012 File: 12-00307
and Members of the CRA Board
From: Pieter A. Bockweg
Executive Director
Subject: Resolution Authorizing Acceptance of Title for
Property Located at 1490 NW 3`d Avenue
from the City of Miami
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 acceptance, from
the City of Miami, of title to the property located at 1490 NW 3ro Avenue, the Overtown Shopping Center and
payment of customary closing costs; and further authorizing the expenditure from the Budget Reserve of an
amount, not to exceed $100,000, for routine maintenance and insurance of the Overtown Shopping Center
The Overtown Shopping Center is located in a pivotal section of the redevelopment area. CRA investment in
the "Third Avenue Commercial Corridor" has provided the impetus for substantial change. The 2009 SEOPW
Redevelopment Plan encourages mixed -use developments that provide a variety of uses that create urban
destinations. The Shopping Center is currently an underutilized asset within the community. Transfer of this
property to the CRA will allow for its optimal use and aid in the redevelopment of the area. It is recommended
that this resolution be approved.
JUSTIFICATION:
Section 4, at pages 62 through 65, of the 2009 Southeast Overtown/Park West Redevelopment Plan identifies
the West Overtown Neighborhood Center, generally bounded by N.W. 22ND Street on the north, 1-395 Overpass
on the south, N.W. 1st Place on the east, and N.W. 4th Avenue on the west, as a redevelopment focus/project
area.
This Resolution carries out these objectives.
FUNDING:
Funds are to be allocated from the SEOPW Tax Increment Fund, Account Code No.
10030.920101.896000.0000.00000.