HomeMy WebLinkAboutCRA-R-12-0055 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: 12-00822
and Members of the CRA Board
From: Clarence E. Woods, III d
Executive Director
Subject: Resolution authorizing a development
agreement with St. John Community
Development Corporation, Inc
References:
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, with Attachment(s), authorizing
the Executive Director to enter into the development agreement, in substantially the attached form (the
"Development Agreement"), with St. John Community Development Corporation, Inc., a non-profit Florida
corporation, for the development of a mixed -use development on Northwest 3rd Avenue and 13th Street, Miami,
Florida, as more particularly described in the Development Agreement consisting of between 90 and 120
affordable rental units with ground floor commercial space of approximately 15,000 square feet, which
Development Agreement includes the making of a grant in an amount not to exceed $10,000,000.00 for the
residential portion of the Project; authorizing the Executive Director to disburse the grant, at his discretion, in
accordance with the terms of the Development Agreement;
On April 2, 2012, the CRA issued a Request for Information No. 12-04 ("RFI"). The CRA received three
responses to the RFI. St. John Community Development Corporation, Inc. submitted their proposed project on
April 17th, 2012. St. John was selected because they owned the property, and therefore, there would not be a
requirement for the CRA to contribute land.
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old, decrepit, and outdated multifamily complexes, there is a void that must be filled.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.