HomeMy WebLinkAboutCRA-R-14-0025 Cover MemoSEOPW Board of Commissioners Meeting
March 31, 2014
SOUTHEAST OVERTOWN/PARK WEST
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Keon Hardemon
and Members of the CRA Board
Date: March 21, 2014 File: 14-00266
Subject: Resolution Authorizing Expenditure of Funds
with Judd K. Roth Real Estate Development
for Assistance with Grant Applications to
Federal Home Loan Banks of New York and
Atlanta for Rehabilitation Town Park Plaza
North.
From: Clarence E. Woods, III ehd References:
Executive Director
Enclosures: Legislation
BACKGROUND:
The attached Resolution of the Board of Commissioners of the Southeast Overtown/Park West Community
Redevelopment Agency ("CRA") authorizes the expenditure of funds, in an amount not to exceed $63,000.00,
with Judd K. Roth Real Estate Development ("Judd Roth") for assistant with grant applications made to the
Affordable Housing Programs of the Federal Home Loan Bank of New York and the Federal Home Loan Bank
of Atlanta in connection with the renovation and rehabilitation of Town Park Plaza North Condominiums, 475
NW 19th Street, Miami, Florida ("Town Park Plaza North").
Town Park Plaza North, a residential housing complex, was built in 1973, and consists of 20 buildings and 169
condominium units. The condition of Town Park Plaza North poses significant risk of health and safety to its
occupants, and in turn, extensive rehabilitation is needed, as evidenced by structural cracks, unsecured railings,
deteriorating plumbing, rotting wood, and outdated electrical wiring.
In an effort to assist the CRA with leveraging its funding support of Town Park Plaza North, the CRA sought to
apply for grant funding from the Affordable housing Programs of the Federal Home Loan Bank of New York and
the Federal Horne Loan Bank of Atlanta, with the assistance of Judd Roth.
Judd Roth specializes in assisting public and non-profit clients with funding applications for a variety of federal
affordable housing funding programs, such as HOPE VI, Low Income Housing Tax Credits, and Federal Home
Loan Bank Affordable Housing Programs. Such assistance has resulted in the issuance of grant awards from
the Federal Horne Loan Bank's Affordable Housing Programs for numerous affordable housing developments in
Florida, North Carolina, New Jersey, South Carolina and Virginia.
JUSTIFICATION:
Section 163.356(3)(c), Florida Statutes, allows a community redevelopment agency to "to engage technical
experts and other agents as it requires.
FUNDING:
$63,000.00 from SEOPW Tax Increment Fund entitled, "Professional Services," Account Code Number
10050.920101. 531000.0000.00000.