HomeMy WebLinkAboutCRA-R-12-0053 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: 12-00818
and Members of the CRA Board
Subject: Resolution authorizing a grant to Town Park
Village No 1, Inc. for the purchase and
installation of a fire alarm system, in
compliance with the requirements of the 40-
year recertification
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 a grant, in an additional
amount of $40,000, for a total amount not to exceed $335,000, to Town Park Village No 1, Inc., to underwrite
costs for the purchase and installation of a fire alarm system, in compliance with the requirements of the 40-year
recertification of affordable housing at 1680 NW 4th Avenue, Miami, Florida 33136.
The Board of Commissioners, by Resolution No. CRA-R-12-0013, passed and adopted on February 27, 2012,
authorized a grant to Town Park Village No. 1, Inc., in an amount not to exceed $295,000, to underwrite the
costs associated with electrical repairs and improvements related to the 40-year recertification.
In addition to the electrical requirements, Town Park Village No. 1, Inc. requires the purchase and installation of
a fire alarm system, in three of its buildings, in order to satisfy the requirements of the 40-year recertification.
JUSTIFICATION:
Town Park Village No 1, Inc., is a residential building comprising of 149 residential units, in the Southeast
Overtown/Park West CRA area. These structures do not meet the requirements for the 40-year recertification
and are in need of immediate repairs to preserve these affordable housing structures and to bring the structures
up to City of Miami Code.
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.
This Resolution carries out these objectives.
FUNDING:
Funds are to be allocated from SEOPW Tax Increment Fund, "Construction in Progress," Account Code No.
10050.920101.670000.0000.00000.