HomeMy WebLinkAboutCRA-R-14-0061 Cover MemoSEOPW Board of Commissioners Meeting
September 30, 2014
SOUTHEAST OVERTOWN/PARK WEST
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE hilEMOI NJ UM
To: Board Chair Keon Harde.mon
and Members of the CRA Board
From: Clarence E. Woods, III
Executive Director
Date: September 19, 2014 File: 14-00933
Subject: Resolution Authorizing Grant for
Rehabilitation of Property at 240 NW 17th
Street.
References:
Enclosures: Supporting Documentation; Legislation
BACKGROUND:
The attached Resolution of the Board of Commissioners of the Southeast Overtown/Park West Community
Redevelopment Agency ("CRA") authorizes a grant, in the amount not to exceed $450,000.00, to Al D. Darring
and Stephanie R. barring (collectively the "Owners") for the rehabilitation of property at 240 NW 17th Street,
Miami, Florida ("Property").
The building on the Property was built in 1959, and has 9 residential units. The Owners have requested
assistance from the CRA in order to undertake the rehabilitation of the Property.
Should the Board authorize the issuance of a grant, the Owners would record a restrictive covenant wherein the
Owners agree to maintain the units as affordable housing for a period of seven (7) years.
JUSTIFICATION:
Section 2, Goal 3, at page 11, of the 2009 Southeast Dvertown/Park West Community Redevelopment Plan lists
the "creati[on of) infill housing, diversity in housing types, and retaining affordable housing," as a stated
redevelopment goal. Section 2, Principle 2, at page 14, of the Plan provides that "jtjhe neighborhood ... retain
access to affordable housing ...."
FUNDING:
$450,000.00 allocated from SEOPW Tax Increment Fund, entitled "Other Grants and Aids" Account No.
10050.920101.883000.0000.00000.