HomeMy WebLinkAboutCRA-R-13-0038 06-24-13 Cover MemoSEOPW Board of Commissioners Meeting
June 24, 2013
SOUTHEAST OVERTOWN/PARK WEST
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Michelle Spence -Jones
and Members of the CRA Board
From: Clarence E. Woods, III
Executive Director
Ad
Date: June 14, 2013 File: 13-00732
Subject: Resolution Authorizing Additional Funding for
Renovation of Overtown Shopping Center
References:
Enclosures: Supporting Documentation; Resolution
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 an expenditure of
additional funds, in the amount of $350,000, for a total amount not to exceed $1,350,000, for the renovation and
rehabilitation of the Overtown Shopping Center, 1490 NW 3`d Avenue, Miami, Florida ("Property").
On March 25, 2013, the Board of Commissioners, by Resolution No. CRA-R-13-0020, authorized the
expenditure of funds in the amount of $1,000,000, for the renovation and rehabilitation of the Property (the
"Project"), accepted the selection of TGSV Enterprises, Inc. ("TGSV") as the contractor for the Project,
authorized the performance of a Phase I evaluation and assessment of the Property by TGSV, and authorized
the CRA to negotiate an agreement with TGSV for the Project based upon TGSV's Phase I evaluation and
assessment.
Thereafter, the CRA received the Phase I evaluation and assessment which reflected the extremely poor
conditions of the Property, and determined the extent of rehabilitation necessary for tenant occupancy at the
Property. This, in turn, served as the basis for negotiating an agreement with TGSV for the scope of work,
which consists of a guaranteed maximum price, along with an equal share of any cost savings realized.
Ultimately, the Project requires additional funding due to the conditions of the Property revealed by the Phase I
evaluation and assessment. Completion of the project will enable the CRA accommodate commercial tenants
at the Property.
JUSTIFICATION:
Principle 1, at page 13, of the 2009 Southeast Overtown/Park West Redevelopment Plan ("Plan") provides that
"neighborhood -serving commercial uses, such as pharmacies, grocery stores, bank branches, dry cleaners,
restaurants, day care facilities, and entertainment establishments . . should be incorporated into the
neighborhood fabric -to serve the population." Additionally, Principle 10, at page 16, of the Plan, also provides
that "sound urban design, attractive buildings, and streetscapes are essential to having streets that are both
functional and visually attractive.
FUNDING:
$350,000 from SEOPW Tax Increment Fund, "Construction in Progress," Account Code No.
10050.920101.670000.0000.00000