HomeMy WebLinkAboutCRA-R-12-0049 07-30-2012 Cover MemoSEOPW Board of Commissioners Meeting
July 30, 2012
SOUTHEAST OVERTOWN/PARK WEST
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Michelle Spence -Jones Date: July 20, 2012 File: 12-00819
and Members of the CRA Board
From: Clarence E. Woods, III
Executive Director
Subject: Resolution directing the Executive Director to
budget $500,000 for affordable and workforce
housing.
References:
Enclosures: 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 directing the Executive Director to
budget $500,000, for affordable and workforce housing in the Redevelopment Area. Grantee shall execute a
restrictive covenant limiting the rent charged on the properties, providing that grants in excess of $4,500 shall be
presented to the Board for approval.
JUSTIFICATION:
The Southeast Overtown/Park West Community Redevelopment Plan, goal 3, Principals 2 and 3, at page 14,
state that neighborhoods should retain access to affordable housing and strive to provide a mix of housing
types, including rental units...to accommodate existing and future residents of the redevelopment area.
Many residential properties within the redevelopment area are in need of rehabilitation, including, but not limited
to, structural, electrical, mechanical, plumbing, roofing, glazing, carpentry, framing, drywall, millwork, painting,
and various other repairs, remodeling, and renovation.
Grants in excess of $4,500 shall be presented to the Board for approval.
This Resolution carries out these objectives.
FUNDING:
Funds are to be allocated from SEOPW Tax Increment Fund, "Other Grants and Aids," Account Code No.
10050.920101.883000.0000.00000.