HomeMy WebLinkAboutCRA-R-16-0018City of Miami
Legislation
CRA Resolution: CRA-R-16-0018
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 16-00524 Final Action Date: 5/23/2016
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("CRA");
AUTHORIZING THE ACCEPTANCE OF FUNDS IN THE AMOUNT OF $191,398.46
FROM THE BLACK ARCHIVES HISTORY AND RESEARCH FOUNDATION OF
SOUTH FLORIDA, INC. ("BAF") TO SATISFYA CONSTRUCTION GAP FUNDING
LOAN TO BAF AUTHORIZED BY CRA-R-15-0012; 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 1, at page 11, of the Plan lists the "preserv[ation of] historic
buildings and community heritage" as a stated redevelopment goal; and
WHEREAS, 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; and
WHEREAS, Section 2, Principles 8 and 14, at page 15 of the Plan further 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; and
WHEREAS, the Board of Commissioners, by Resolution No. CRA-R-15-0012, passed and
adopted on March 30, 2015, authorized a non -amortized 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; and
WHEREAS, the loan was to 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.
WHEREAS, On March 30, 2016, BAF notified the CRA of its intent to satisfy the loan; and
WHEREAS, the Board of Commissioners wish to accept the loan repayment funds in the
amount of $191,398.46 and provide BAF with a promissory note release once the CRA receives the
same; and
City of Miami Page 1 of 2 File Id: 16-00524 (Version: 1) Printed On: 9/20/2022
File Number: 16-00524 Enactment Number: CRA-R-16-0018
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 accepts funds in the amount of
$191,398.46, from the Black Archives History and Research Foundation of South Florida, Inc. ("BAF")
to satisfy a loan to BAF authorized by CRA-R-15-0012.
Section 3. The Executive Director is authorized to provide a promissory note release to
BAF upon receipt of funds to satisfy the loan.
Section 4. The Executive Director is authorized to execute all documents necessary for
said purpose.
Section 5. This Resolution shall become effective immediately upon its adoption.
City of Miami Page 2 of 2 File Id: 16-00524 (Version: 1) Printed On: 9/20/2022