HomeMy WebLinkAboutCRA-R-13-0025City of Miami
Legislation
CRA Resolution: CRA-R-13-0025
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 13-00358 Final Action Date: 3/25/2013
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("CRA"),
WITH ATTACHMENT(S), AMENDING AND SUPPLEMENTING RESOLUTION NO.
CRA-R-12-0061, PASSED AND ADOPTED ON SEPTEMBER 17, 2012,
REGARDING THE ISSUANCE OF TAX INCREMENT REVENUE BONDS TO
FINANCE OR REFINANCE THE ACQUISITION AND CONSTRUCTION OF
COMMUNITY REDEVELOPMENT PROJECTS IN THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AREA; PROVIDING
FOR THE PAYMENT AND SECURITY THEREOF; MAKING CERTAIN COVENANTS
AND AGREEMENTS IN CONNECTION THEREWITH; PROVIDING FOR AND
AUTHORIZING THE ISSUANCE OF TAX INCREMENT REVENUE BONDS, SERIES
2012 IN THE ORIGINAL AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED
$50,000,000 AS THE INITIAL SERIES OF BONDS HEREUNDER FOR THE
PURPOSE OF FINANCING CERTAIN GRANTS TO BE USED FOR THE
CONSTRUCTION OR REHABILITATION OF AFFORDABLE HOUSING AND
FINANCING THE CONSTRUCTION OF OTHER CAPITAL IMPROVEMENTS IN THE
REDEVELOPMENT AREA; PROVIDING CERTAIN OTHER DETAILS WITH
RESPECT THERETO; PROVIDING FOR SEVERABILITY; AND PROVIDING AN
EFFECTIVE DATE; FOR THE PURPOSES OF: (A) CLARIFYING THAT PROCEEDS
OF SUCH SERIES 2012 BONDS WILL NOT BE USED TO PAY EITHER (I) THE
COSTS OF THE PORTION OF THE PROJECT REFERRED TO IN EXHIBITATO
SUCH RESOLUTION AS "LYRIC PLACE - BLOCK 36" (PARKING GARAGE) WHICH
WILL NOT BE AVAILABLE FOR USE BY THE GENERAL PUBLIC; OR (II) THE
COSTS OF THE "TOWN PARK PLAZA NORTH" PORTION OF THE PROJECT
REFERRED TO IN EXHIBIT "A" TO SUCH RESOLUTION AS "TOWN PARK;" AND
(B) AMENDING THE DESCRIPTION OF THE "ST. JOHN'S OVERTOWN PLAZA"
PROJECT REFERRED TO IN EXHIBTAATTACHED TO SUCH RESOLUTION; AND
PROVIDING FOR AN EFFECTIVE DATE.
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 the 2009 Southeast Overtown/Park West Redevelopment
Plan ("Plan"); and
WHEREAS, the CRA adopted Resolution No. CRA-R-12-0061 on September 17, 2012 (the
"Bond Resolution"), which, among other things, provided for the issuance of Tax Increment Revenue
Bonds, Series 2012 in an aggregate principal amount not to exceed $50,000,000 for the purpose of
financing certain grants to be used for the construction or rehabilitation of affordable housing and
financing the construction of other capital improvements (collectively, the "2012 Redevelopment
Projects") in the Redevelopment Area, as provided therein; and
WHEREAS, the CRA desires to amend the Bond Resolution for the purposes described in the
City of Miami Page 1 of 2 File Id: 13-00358 (Version: 1) Printed On: 10/26/2022
File Number: 13-00358 Enactment Number: CRA-R-13-0025
title to this Resolution and in the manner hereinafter provided;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE
SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY OF THE CITY
OF MIAMI, FLORIDA:
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. Capitalized terms not otherwise defined in this resolution (this "Resolution")
shall, unless context otherwise requires, have the respective meanings set forth in the Bond
Resolution.
Section 3. Amendment to the Definition of "2012 Redevelopment Projects". The definition of
"2012 Redevelopment Projects" in Section 201 of the Bond Resolution is hereby amended and
restated in its entirety to read as follows:
"2012 Redevelopment Projects" means the Projects within the Redevelopment Area
more particularly described on Exhibit "A" attached, in each case to be financed in
whole or in part with proceeds of the Series 2012 Bonds; provided, however, that
proceeds of the Bonds shall not be used to pay either (i) the costs of the portion of the
Project referred to in Exhibit A attached as "Lyric Place - Block 36" (parking garage)
which will not be available for use by the general public, or (ii) the costs of the "Town
Park Plaza North" portion of the Project referred to in Exhibit A attached as "Town
Park."
Section 4. Amendment to Description of "St. John Overtown Plaza" Project. The
description of the "St. John Overtown Plaza" Project set forth in Exhibit A to the Bond Resolution is
hereby amended to insert the parenthetical "(or such lesser number of affordable housing units as
may be approved by the City Commission of the City of Miami, the Board of County Commissioners
of Miami -Dade County, and the Board of Commissioners of the CRA)" immediately following the
phrase "112 affordable housing units." For the sole purpose of evidencing such amendment, Exhibit
A to the Bond Resolution is hereby deleted in its entirety and replaced with Exhibit A attached hereto.
Section 5. Effective Date. The Bond Resolution, as amended and supplemented by this
Resolution, shall remain in full force and effect, and this Resolution shall take effect immediately upon
its adoption.
City of Miami Page 2 of 2 File Id: 13-00358 (Version: 1) Printed On: 10/26/2022