HomeMy WebLinkAboutCRA-R-15-0055City of Miami
Legislation
CRA Resolution: CRA-R-15-0055
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 15-00928 Final Action Date: 12/14/2015
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("CRA
BOARD") AUTHORIZING AN AMENDMENT TO THE CHARLES LOWELL REALTY &
INVESTMENT & DEVELOPMENT, LLC REHABILITATION GRANT FOR THE
PROPERTY LOCATED AT 1767 N.W. 3RD AVENUE ("PROPERTY"), MIAMI,
FLORIDA AMENDING THE AFFORDABILITY PERIOD FROM FIFTY (50) YEARS TO
THIRTY (30) YEARS; AUTHORIZING AN AMENDMENT TO THE RESTRICTIVE
COVENANT FOR THE PROPERTY WHEREBY THE CRA BOARD MAY REVIEW
THE SAME (5) FIVE YEARS FROM THE DATE THIS RESOLUTION IS ADOPTED;
FURTHER AUTHORIZING THE EXECUTIVE DIRECTOR TO EXECUTE ALL
DOCUMENTS NECESSARY FOR SAID PURPOSE.
WHEREAS, the Southeast Overtown/Park 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 the 2009 Southeast Overtown/Park West Redevelopment
Plan ("Plan"); and
WHEREAS, Section 2, Goal 3, at page 11, of the Plan lists the "creati[on of] infill housing,
diversity in housing types, and retaining affordable housing," as a stated redevelopment goal; and
WHEREAS, Section 2, Principle 2, at page 14, of the Plan provides that "[t]he neighborhood
.. retain access to affordable housing ... ;" and
WHEREAS, the property at 1767 N.W. 3rd Avenue, Miami, Florida ("Property") is currently
owned by Charles Lowell Realty Investment & Development, LLC ("Owner"); and
WHEREAS, on June 11, 2015, the Board of Commissioners, by CRA-R-15-0020 authorized a
grant, in the amount not to exceed $585,000, to Owner for the rehabilitation of the Property. The
Resolution further authorized the Owner to record a restrictive covenant wherein the Owner would be
required to maintain the units within the Property as affordable for a period of fifty (50) years; and
WHEREAS, Owner has requested to that the affordability period be reduced from fifty (50)
years to thirty (30) years; and
WHEREAS, the Board of Commissioners wish to reduce the affordability period from fifty (50)
years to thirty (30) years and wish to review and reconsider the terms of the restrictive covenant for
the Property five (5) years from the date this Resolution is adopted; and
WHEREAS, the Board of Commissioners finds that such an amendment would further the
aforementioned redevelopment objectives;
City of Miami Page 1 of 2 File Id: 15-00928 (Version: 2) Printed On: 9/28/2022
File Number: 15-00928 Enactment Number: CRA-R-15-0055
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 set forth in this Section.
Section 2. The Board of Commissioners hereby authorizes an amendment to the grant
authorized by CRA-R-15-0020 and hereby reduces the affordability period therein from fifty (50) years
to thirty (30) years.
Section 3. The Board of Commissioners may review and reconsider the terms of the
restrictive covenant for the Property five (5) years from the date this Resolution is adopted.
Section 4. The Executive Director is authorized to execute all documents necessary for
the purposes set forth above.
Section 5. This Resolution shall become effective immediately upon its adoption.
City of Miami Page 2 of 2 File Id: 15-00928 (Version: 2) Printed On: 9/28/2022