HomeMy WebLinkAboutCRA-R-15-0012 Cover MemoSEOPW Board of Commissioners Meeting
March 30, 2015
SOUTHEAST OVERTOWN/PARK WEST
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
T o Board Chair Keon Hardemon
and Members of the CRA Board
Date March 20, 2015 File 15-00333
Subject Resolution Authorizing a Grant to Black
Archives History and Research Foundation of
South Florida, Inc. for the Lyric Theater
Cultural Heritage Institute and Expenditure for
Tenant Improvements.
From Clarence E. Woods, Ill References
Executive Director
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 an amount not to exceed $733,000, to the Black Archives
History and Research Foundation of South Florida, Inc. ("BAF") to underwrite costs associated with the
continued operation and programming of the Lyric Theater Cultural Heritage Institute for the 2015 calendar year,
construction gap funding to close out the construction of the Lyric Theater Cultural Complex, and tenant
improvements therein.
The Board of Commissioners, by Resolution No. CRA-R-14-0003, passed and adopted on January 27, 2014,
authorized a grant, in an amount not to exceed $572,000, for operation of the Cultural Heritage Institute at the
Lyric Theater Cultural Arts Complex and for the provision of job training services to residents of the
Redevelopment Area at the Lyric Theater Cultural Arts Complex. With this funding, BAF successfully opened
the historic venue and has hosted exciting programing such as the South Florida Marching Band Precision
Camp, Lyric Live, Living Legends, and the highly reviewed Purvis Young Art Basel exhibition. Additionally, BAF
was able to forge partnerships with the Greater Miami Convention & Visitors Bureau, Visit Florida, Big Bus, the
Bass Museum, and Coca-Cola. Further, the CRA currently leases office space from the BAF at the Lyric
Theater Cultural Arts Complex.
BAF now seeks support from the CRA to continue operations of the Lyric Theater Cultural Heritage Institute for
the 2015 calendar year. Also, the BAF seeks funding for additional security services and improvements to the
premises, such as the installation of security cameras, security monitors, and retrofitting the Lyric Theater
Cultural Arts Complex to allow the CRA access to its office space after business hours and on the weekends.
Lastly, this grant request includes a non -amortizing loan in an amount not to exceed, $200,000, to underwrite
costs associated with construction gap funding to close out the construction of the Lyric Theater Cultural
Complex, which will be repaid to the CRA upon receipt of reimbursement funds owed to BAF from Miami -Dade
County via General Obligation Bonds upon successful close out of the project.
JUSTIFICATION:
Section 2, Goal 1, at page 11, of the Southeast Overtown/Park West Community Redevelopment Agency Plan
("Plan") lists the "preserv[ation of] historic buildings and community heritage" as a stated redevelopment goal.
Section 2, Principle 6, at page 15, of the Plan states, "local cultural events, institutions, and businesses are to be
promoted" as a stated redevelopment principle. Further, Section 2, Principles 8 and 14, at page 15 of the Plan
states that 'older buildings that embody the area's cultural past should be restored" and the area's sense of
community should be restored and unified culturally.
FUNDING:
$733,000 allocated from SEOPW Tax Increment Fund, entitled "Grants and Other Aids," Account No.
10050.920101.883000.0000.00000.