HomeMy WebLinkAboutCRA-R-13-0070 Cover Memo`SEOPW Board of Commissioners Special Meeting
October 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
Date: October 18, 2013 File: 13-01207
Subject: Resolution Authorizing Negotiation of
Partnership Agreement with the Miami
Foundation, Inc.
References:
Enclosures: Legislation
BACKGROUND:
The attached Resolution of the Board of Commissioners of the Southeast Overtown/Park West Community
Redevelopment Agency ("CRA") authorizing the Executive Director to negotiate a partnership agreement with
the Miami Foundation, Inc. for the management of private funds received from third party developers as a result ,
of community benefit agreements entered into for large scale development projects throughout the
Redevelopment Area.
The Miami Foundation, Inc. was established In 1967, and is a non-profit corporation based in Miami, Florida that
helps to create and management custom charitable funds for philanthropic purposes. The CRA has previously
negotiated, and is currently negotiating, development agreements for large scale development projects which
include community benefit provisions requiring a payment by the developer party. Given Miami Foundation's
resources and expertise, the CRA wishes to develop a partnership with Miami Foundation to facilitate the
management and disbursement of private funding received as a result of community benefit provisions.
The terms of any negotiated partnership agreement would be presented to the Board of Commissioners for
consideration.
JUSTIFICATION:
Section 11(1), at page 94, of the 2009 Southeast Overtown/Park West Community Redevelopment Plan ("Plan")
encourages the CRA to seek public/private partnerships in order to further the redevelopment objectives and
goals described in the Plan.
FUNDING:
This Resolution does not commit funding.