HomeMy WebLinkAboutCRA-R-18-0031Southeast Overtown/Park West
Community Redevelopment Agency
Legislation
CRA Resolution: CRA-R-18-0031
819 NW 2nd Ave
3rd Floor
Miami, FL 33136
www.seopwcra.com
File Number: 4376 Final Action Date:6/26/2018
A RESOLUTION THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY, WITH
ATTACHMENTS, AUTHORIZING THE EXECUTIVE DIRECTOR OF THE
SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT
AGENCY TO EXECUTE A SECOND AMENDMENT TO THE COVENANT
REGARDING BLOCK 46 WITH SAWYER'S WALK, LTD. AND POINCIANA
VILLAGE OF MIAMI, LTD., IN SUBSTANTIALLY THE ATTACHED FORM.
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; and
WHEREAS, the CRA previously entered into a Covenant with Sawyer's Walk, Ltd., a
Florida limited partnership and Poinciana Village of Miami, Ltd., a Florida limited partnership
(collectively the "Developer") with respect to the development of Block 46 (the "Covenant"); and
WHEREAS, the Covenant included certain obligations for the CRA to make payments to
the Developer to assist with the cost of the development of Block 46; and
WHEREAS, the Developer requested the Amended and Restated Covenant to allow for
the CRA to extend the time frame for commencement of vertical construction; and
WHEREAS, the primary purpose of the Amended and Restated Covenant is to modify
the Covenant to extend the time frame for commencement of vertical construction, to make
provisions for the receipt of $3,000,000.00 to the CRA, to make provisions for affordable rental
units, and to remove obligations in Covenant for the CRA to make payments to the Developer.
WHEREAS, it is in the best interest of the CRA that the CRA authorize an amendment to
the Covenant.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF
THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY:
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 Executive Director to
enter into an Amended and Restated Covenant, in substantially the attached form.
Section 3. This Resolution shall become effective immediately upon its adoption.
City of Miami Page 1 of 2 File ID: 4376 (Revision: A) Printed On: 8/29/2025
File ID: 4376 Enactment Number: CRA-R-18-0031
APPROVED AS TO FORM AND LEGAL SUFFICIENCY:
C.:7,r,`gfrus Snivel-, E jutive Director 6/27/2018
\)
City of Miami Page 2 of 2 File ID: 4376 (Revision: A) Printed on: 8/29/2025