HomeMy WebLinkAboutCRA-R-12-0039 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: 12-00591
and Members of the CRA Board
Subject: Resolution Authorizing an Agreement with
Island Living Apartments, Ltd.
From: Clarence E. Woods, III 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 the Executive Director
to execute the development agreement, in substantially the attached form, with Island Living Apartments, Ltd.
for the development of an affordable housing project consistindg of not less than 70 residential units and 5,000
square feet of commercial space to be located 1201 N.W. 3r Avenue, and 229-247 N.W. 12th Street, Miami,
Florida (the "Project"), and the making of a grant in an amount not to exceed Nine Million Dollars pursuant to the
terms of the Development Agreement.
On April 8, 2011, the CRA issued a Request for Proposals ("RFP") for the development of property owned by
the CRA located at 1201 N.W. 3rd Ave., and 229-247 N.W. 12th Street, Miami, Florida. Four (4) responses were
received by the Clerk of the Board on May 11, 2011. A selection committee was formed to evaluate the
responses. Carlisle Development Group, LLC and Palmetto homes of Miami, Inc. was the highest rated
proposer as ranked by the selection committee.
The CRA Board, by Resolution No. CRA-R-11-0038, passed and adopted on July 25, 2011, authorized the
Executive Director to negotiate a development agreement with Carlisle Development Group, LLC and Palmetto
Homes of Miami Inc. Island Living Apartments, Ltd. is an affiliate of Carlisle Development Group, LLC and
Palmetto Homes of Miami, Inc.
JUSTIFICATION:
The 2009 Amended and Restated Southeast Overtown/Park West Redevelopment Plan lists, as one of the main
goals for eliminating slum and blight conditions, the creation of infill housing. While there has been demolition of
old, decrepit, and outdated multifamily complexes, there is a void that must be filled. The many vacant lots have
provided opportunities for newly built green mixed -use buildings that will include retail and office space with a
host of amenities. This project will breed new life into the local economy by providing additional density that will
patronize the enduring businesses. The temporary construction jobs will provide needed resources to the
residents. Although there will not be a significant amount of permanent jobs, new permanent positions will be
created as a result of this project.
Section 2, Goal 3/Principles 2 and 3, at pages 12 and 14, of the 2009 Amended and Restated Southeast
Overtown/Park West Redevelopment Plan, lists "[c]reating infill housing," and "variety in housing options," as
stated redevelopment goals.
Section 2, Goal 4/Principle 4, at pages 12 and 14, of the 2009 Amended and Restated Southeast
Overtown/Park West Redevelopment Plan, lists "[c]reating jobs within the Community," as stated redevelopment
goals.
This Resolution carries out these objectives.
FUNDING: This Resolution is subject to the availability of funds.