HomeMy WebLinkAboutCRA-R-18-0010Southeast Overtown/Park West
Community Redevelopment Agency
Legislation
CRA Resolution: CRA-R-18-0010
819 NW 2nd Ave
3rd Floor
Miami, FL 33136
www.seopwcra.com
File Number: 3742 Final Action Date:3/1/2018
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY
AUTHORIZING THE EXPENDITURE OF FUNDS, IN AN AMOUNT NOT TO
EXCEED $700,000, TO PURCHASE 19 HOUSING UNITS AT TOWN PARK
PLAZA NORTH CONDOMINIUM; AUTHORIZING THE EXECUTIVE DIRECTOR
TO EXECUTE ALL DOCUMENTS NECESSARY FOR SAID PURPOSE;
FURTHER AUTHORIZING THE EXECUTIVE DIRECTOR TO DISBURSE FUNDS,
AT HIS DISCRETION, TO EFFECTUATE THE PURPOSE AND COST
ASSOCIATED WITH THIS PURCHASE; ALLOCATING FUNDS FROM SEOPW
TAX INCREMENT FUND, ENTITLED "OTHER CONTRACTUAL SERVICES,"
ACCOUNT CODE NO. 10050.920101.534000.0000.00000.
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, The Community Redevelopment of 1969 found and declared that there exist... a
severe shortage of housing affordable to residents of low or moderate income, including the elderly...
such conditions affects the health, safety and welfare of the residents. Florida Statue 163.335 (6).
WHEREAS, Section 2, Goal 3, at page 11, of the 2009 Southeast Overtown/Park West
Community Redevelopment Plan list the "creating infill housing, diversity in housing types, and
retaining affordable housing; and
WHEREAS, Section 2, Principle 2 at page 14, of the Plan provides that "The
neighborhood has to retain access to affordable housing even as the neighborhood becomes
more desirable to households with greater means;" and
WHEREAS, Miami -Dade County has one of the least affordable housing markets in the
nation. Families are considered "cost burdened" by housing when more than 30 percent of their
income goes toward a place to live. By that measure, Miami -Dade has the third most cost -
burdened housing market in the country, behind two counties in the New York area. In Miami -
Dade, 51 percent of households are considered cost -burdened. The problem is more profound
in Overtown, where prevailing poverty is greater when compared to surrounding communities;
and
WHEREAS, In Overtown there is a shortage of housing affordable to low income and
elderly residents, higher rates of unemployment, and prevailing poverty. Overtown has
approximately 8,000 residents living in a two square mile radius. More than half of the Overtown
residents live below the poverty level and 34% are unemployed. The median household income
is $14,634; and
City of Miami Page 1 of 2 File ID: 3742 (Revision: A) Printed On: 8/29/2025
File ID: 3742 Enactment Number: CRA-R-18-0010
WHEREAS, As such, it is in the public interest and furtherance of the CRA goals and
principles for the CRA to purchase the above -mentioned 19 housing units with the objective of
providing affordable housing to low, moderate and elderly families;
WHEREAS, the Board of Commissioners wish to authorize the expenditure of funds, in
an amount not to exceed $700,000, to underwrite costs associated with the purchase of 19 units
at Town Park North Condominium;
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 the expenditure of funds, in
an amount not to exceed $700,000, to underwrite costs associated with the purchase of 19 units
at Town Park Plaza North Condominium.
Section 3. The Executive Director is authorized to execute all documents necessary for
said purpose.
Section 4. The Executive Director is authorized to disburse funds, at his discretion,
to effectuate the purpose and costs associated with the purchase of the 19 housing units, upon
presentation of invoices and satisfactory documentation.
Section 5. Funds are to be allocated from SEOPW Tax Increment Fund, entitled "Other
Contractual Services," Account Code No. 10050.920101.534000.0000.00000.
Section 6. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND LEGAL SUFFICIENCY:
Come fiver, E cutive Director 3/5/2018
City of Miami Page 2 of 2 File ID: 3742 (Revision: A) Printed on: 8/29/2025