HomeMy WebLinkAboutCRA-R-15-0055 LegislationCity of Miami
Legislation
CRA Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 15-00928
Final Action Date:
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY
AUTHORIZING AN AMENDMENT TO THE CHARLES LOWELL REALTY &
INVESTMENT & DEVELOPMENT, LLC REHABILITATION GRANT FOR THE
PROPERTY LOCATED AT 1767 N.W. 3RD AVENUE, MIAMI, FLORIDAAMENDING
THE AFFORDABILITY PERIOD FROM FIFTY (50) YEARS TO FIFTEEN (15)
YEARS; 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 fifteen (15) years; and
WHEREAS, the Board of Commissioners wishes to reduce the affordability period from fifty
(50) years to fifteen (15) years; and
WHEREAS, the Board of Commissioners finds that such an amendment would further the
aforementioned redevelopment objectives;
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
City of Miami Page 1 of 2 File Id: 15-00928 (Version: 1) Printed On: 11/18/2015
File Number: 15-00928
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 fifteen (15) years.
Section 3. The Executive Director is authorized to execute all documents necessary for the
purposes set forth above.
Section 4. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND LEGAL SUFFICIENCY:
RENEEA. JADUSING
STAFF COUNSEL
City of Miami Page 2 of 2 File Id: 15-00928 (version: 1) Printed On: 11/18/2015