HomeMy WebLinkAboutCRA-R-12-0038 05-29-12-Cover MemoSEOPW Board of Commissioners Meeting
May 29, 2012
SOUTHEAST OVERTOWN/PARK WEST
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Michelle Spence -Jones Date: May 18, 2012 File: 12-00597
and Members of the CRA Board
Subject: Grant for the interior build out of retail bay at
New Arena Square, Italian Ice By Denise,
LLC and Ultrina A. Harris d.b.a. Kicks On
Wheels
From: Clarence E. Woods, III V_" References:
Executive Director
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 a grant, in an amount
not to exceed $100,000.00, to Italian Ice by Denise, LLC and to Ultrina A. Harris d.b.a. Kicks On Wheels, for the
interior build -out of their retail bays at new arena square, 268 NW 11th street, Miami, FL 33136, and 271-75 NW
10TH Street, Miami, FL 33136, respectively, under the renovation/tenant improvements grant initiative authorized
by Resolution No. CRA-R-07-0034
JUSTIFICATION:
The 2009 Southeast Overtown/Park West Redevelopment Plan lists the creation of jobs, and the support and
enhancement of existing businesses within the CRA Area, as stated goals.
The CRA Board, by Resolution No. CRA-R-09-0039, passed and adopted on June 29, 2009, authorized funding,
in an amount not to exceed $130,000, to perform the build -out of three retail bays at New Arena Square, with
the additional requirement of the execution of a restrictive covenant limiting the rent charged for this retail space
to $500 per month, per bay, for a period of five years.
This Resolution carries out these objectives.
FUNDING:
Funds are to be allocated from the SEOPW Tax Increment Fund, "Other Grants and Aids," Account Code No.
10050.920101.883000.0000.00000.