HomeMy WebLinkAboutCRA-R-14-0055 Cover MemoSEOPW Board of Commissioners Meeting
July 30, 2014
SOUTHEAST OVERTOWN/PARK WEST
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Kenn Hardemon
and Members of the CRA Board
From: Clarence E. Woods, III
Date: July 18, 2014 File: 14-00742
Subject: Resolution authorizing the Amendment to
Development Agreement with Island Living
Apartments, Ltd.
References: Island Living Development Agreement
Executive Director Amendment
Enclosures: Supporting Documentation; Legislation
BACKGROUND:
It is recommended that the Board of Commissioners adopt the accompanying resolution approving the
amendment (the "Amendment") by and between Island Living Apartments, Ltd., a Florida limited partnership
(the "Developer") and the Southeast Overtown/Park West Community Redevelopment Agency (the "CRA") to
the development agreement dated as of October 11, 2012 (the "Development Agreement").
The primary purpose of the Amendment is to modify the Development Agreement to approve the change of
control of the Developer from CDG Island Living, LLC, a Florida limited liability company ("CDG") to APC Island
Living, LLC, a Florida limited liability company ("APC").
RECOMMENDATION:
It is recommended that the Board of Commissioners of the Southeast Overtown/Park West Community
Redevelopment Agency ("CRA") approve and adopt the attached Resolution, with Attachment(s), authorizing
the Executive Director to enter into the Amendment in substantially the form attached.
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