HomeMy WebLinkAboutCRA-R-12-0043City of Miami
Legislation
CRA Resolution: CRA-R-12-0043
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 12-00595 Final Action Date: 6/25/2012
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY, WITH
ATTACHMENT(S), AUTHORIZING THE EXECUTIVE DIRECTOR TO EXECUTE A
DEVELOPMENT AGREEMENT, IN SUBSTANTIALLY THE FORM ATTACHED, WITH
LYRIC VILLAGE LLC, A FLORIDA LIMITED LIABILITY COMPANY, AN AFFILIATE
OF GATEHOUSE DEVELOPMENT CORPORATION FOR THE DEVELOPMENT OF
MIXED -USE DEVELOPMENT ON PORTIONS OF BLOCKS 25 AND 36,
CONSISTING OF BETWEEN 90 AND 100 AFFORDABLE RENTAL UNITS WITH
GROUND FLOOR COMMERCIAL SPACE ALONG NW 2ND AVENUE ("PHASE I"),
APPROXIMATELY 80 TO 120 RESIDENTIAL UNITS ON A PORTION OF BLOCK 25
("PHASE II"), A PUBLIC PARKING GARAGE CONTAINING APPROXIMATELY 300
PARKING SPACES ON A PORTION OF BLOCK 36 ("PARKING GARAGE") AND
APPROXIMATELY 25,000 TO 37,000 SQUARE FEET OF COMMERCIAL SPACE TO
BE LOCATED ON A PORTION OF BLOCK 36 ("PHASE IV"), WHICH
DEVELOPMENT AGREEMENT INCLUDES THE MAKING OF A GRANT IN AN
AMOUNT NOT TO EXCEED $10,000,000.00 WITH RESPECT TO PHASE I AND A
GRANT IN AN AMOUNT NOT TO EXCEED $3,000,000.00 WITH RESPECT TO THE
PARKING GARAGE; AUTHORIZING THE EXECUTIVE DIRECTOR TO DISBURSE
THE GRANT, AT HIS DISCRETION, IN ACCORDANCE WITH THE TERMS OF THE
DEVELOPMENT AGREEMENT; FURTHER AUTHORIZING THE EXECUTIVE
DIRECTOR TO EXECUTE AND AMEND ALL DOCUMENTS NECESSARY FOR SAID
PURPOSE, IN FORM ACCEPTABLE TO THE SPECIAL COUNSEL.
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/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; and
WHEREAS, 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; and
WHEREAS, on October 16, 2007, the CRA issued an RFP for the development of CRA owned
land consisting of portions of Blocks 25 and 36, Miami, Florida; and
WHEREAS, seven (7) responses to the RFP were received by the Clerk of the Board on
November 16, 2007; and
WHEREAS, the proposal submitted by Gatehouse Development Corporation, consisted of
City of Miami Page 1 of 2 File Id: 12-00595 (Version: 1) Printed On: 11/1/2022
File Number: 12-00595 Enactment N,imher: CRA-R-12-0043
affordable rental units, a parking garage, and commercial/retail space; and
WHEREAS, a selection committee was formed to evaluate the responses and recommended
negotiation with Gatehouse Development Corporation; and
WHEREAS, the CRA Board, by Resolution No. CRA-R-07-0058, passed and adopted on
December 12, 2012, authorized the Executive Director to negotiate a development agreement with
Gatehouse Development Corporation; and
WHEREAS, the Board of Commissioners wishes to authorize the Executive Director to enter
into the development agreement, in substantially the attached form (the "Development Agreement"),
with Lyric Village LLC, a Florida liability company which is an affiliate of Gatehouse Development
Corporation, for the development of a mixed -use development on portions of Blocks 25 and 36,
Miami, Florida, as more particularly described in the Development Agreement consisting of between
90 and 100 affordable rental units with ground floor commercial space along NW 2nd Avenue ("Phase
I"), approximately 80 to 120 residential units on a portion of Block 25 ("Phase II"), a public parking
garage containing approximately 300 parking spaces on a portion of Block 36 ("Parking Garage") and
approximately 25,000 to 37,000 square feet of commercial space to be located on a portion of Block
36 ("Phase IV"), which Development Agreement includes the making of a grant in an amount not to
exceed $10,000,000.00 with respect to Phase I and a grant in an amount not to exceed
$3,000,000.00 with respect to the Parking Garage; authorizing the Executive Director to disburse the
grant, at his discretion, in accordance with the terms of the Development Agreement; further
authorizing the Executive Director to execute and amend all documents necessary for said purpose,
in form acceptable to the special counsel.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE
SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY:
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.
Section 2. The Executive Director is hereby authorized to execute the Development
Agreement with Lyric Village LLC, a Florida limited liability company in substantially the form attached
hereto which includes making a grant in the amount not to exceed $10,000,000.00 with respect to
Phase I and a grant in the amount not to exceed $3,000,000.00 with respect to the Parking Garage.
Section 3. The Executive Director is authorized to execute and amend all documents
necessary for said purpose, in a form acceptable to Special Counsel.
Section 4. This resolution shall become effective immediately upon its adoption.
City of Miami Page 2 of 2 File Id: 12-00595 (Version: 1) Printed On: 11/1/2022