HomeMy WebLinkAboutCRA-R-14-0052 LegislationCity of Miami
Legislation
CRA Resolution
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Miami, FL 33133
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File Number: 14-00695
Final Action Date:
A RESOLUTION, WITH ATTACHMENT(S), OF THE BOARD OF COMMISSIONERS
OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT
AGENCY ("CRA") AUTHORIZING THE ACCEPTANCE OF A GRANT, 1N AN
AMOUNT OF $150,000., FROM THE FEDERAL HOME LOAN BANK OF ATLANTA
("FHLB-ATLANTA") FOR USE IN CONNECTION WITH THE REHABILITATION OF
TOWN PARK PLAZA NORTH, 475 NW 19th STREET, MIAMI, FLORIDA (FOLIO NO.
01-3136-.083-0870); AUTHORIZING T.HE EXECUTIVE DIRECTOR TO EXECUTE
THE COMMITMENT LETTER WITH FHLB-ATLANTA, ATTACHED. HERETO AS
EXHIBIT "A," AND THE AFFORDABLE HOUSING AGREEMENT WITH .
FHLB-ATLANTA AND FLORIDA COMMUNITY BANK, ATTACHED HERETO AS
EXHIBIT "B;" FURTHER AUTHORIZING THE EXECUTIVE DIRECTOR TO
EXECUTE ALL OTHER DOCUMENTS NECESSARY FOR SAID PURPOSE.
WHEREAS, the Southeast_OvertownfPark West_ Community_ Redevelopment Agency ("CRA")
is a community redevelopment agency created pursuant to Chapter 163, Florida Statutes, and is
responsible for carrying out community redevelopment activities and projects within its Redevelopment
Area in accordance with its approved 2009 Southeast Overtown/Park West Redevelopment Plan
("Plan"); and
WHEREAS, Section 163.370(2)(g), Florida Statutes, allows a community redevelopment
agency to "to borrow money and to apply for and accept advances, loans, grants, contributions, and
any other form of financial assistance from the Federal Government;" and
WHEREAS, Section 2, Goals 3, at page 11, of the Plan lists the "creati[on of] infill housing,
diversity in housing types, and retaining affordable housing," as stated redevelopment goals; and
WHEREAS, Section 2, Principle 2, at page 14, of the Plan provides that "[t]he neighborhood.
retain access to affordable housing ....;" and
WHEREAS, Town Park Plaza North, 475 NW 19th Street, Miami, Florida (Folio No.
01-3136-083-0870), is a 20-building, 169-unit affordable housing complex in the Redevelopment Area;
and
WHEREAS, 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unsecured railings, deteriorating plumbing, rotting wood, and outdated electrical wiring; and
WHEREAS, the Board of Commissioners, by Resolution No. CRA-R-13-0015, passed and
adopted on March 14, 2013, authorized the Executive Director to apply for funding from the Federal
Home Loan Bank of Atlanta ("FHLB-Atlanta") in connection with the rehabilitation of Town Park Plaza
North; and
File Number: 14-00695
WHEREAS, on October 24, 2013, the Board of Commissioners, by Resolution No.
CRA-R-13-0068, authorized the issuance of a grant, in an amount not to exceed $3,333,333.00, for
the rehabilitation of Town Park Plaza North; and
WHEREAS, in an effort to assist the CRA with leveraging its funding support of Town Park
Plaza North, the CRA also applied for grant funding from the Federal Home Loan of New York, and
was awarded funding in the amount of $600,000.00 for the Project; and
WHEREAS, FHLB-Atlanta has approved the CRA's application for grant funds for the
rehabilitation of Town Park Plaza North, and has agreed to issue a grant award, in the amount of
$150,000, for the rehabilitation of 15 owner -occupied units in Town Park Plaza North; and
WHEREAS, the Board of Commissioners wishes to authorize the acceptance of the grant from
FHLB-Atlanta for use in connection with the Town Park North Project;
WHERAS, the Board of Commissioners finds that the acceptance of a grant from FHLB-Atlanta
would further the aforementioned redevelopment goals and principles;
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 sef_forth. in this_Sectio.n.._
Section 2. The Board of Commissioners authorizes the acceptance of a .grant, in the amount of
$150,000, from the Federal Home Loan Bank of Atlanta for use in connection with the rehabilitation of
Town Park Plaza North, 475 NW 19th Street, Miami, Florida (Folio No. 01-3136-083-0870).
Section 3. The Executive Director is authorized to execute the Commitment Letter with
FHLB-Atlanta, attached hereto as Exhibit "A," and the Affordable Housing Agreement with
FHLA-Atlanta and Florida Community Bank, attached hereto as Exhibit "B."
Section 4, The Executive Director is further authorized to execute all other documents
necessary for said purpose.
Section 5. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND LEGAL SUFFICIENCY:
JESSICA N. PACHECO, ESQ.
SPECIAL COUNSEL