HomeMy WebLinkAboutCRA-R-18-0042Southeast Overtown/Park West
Community Redevelopment Agency
Legislation
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CRA Resolution: CRA-R-18-0042
File Number: 4835 Final Action Date:9/24/2018
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY,
AUTHORIZING ADDITIONAL FUNDING, IN AN AMOUNT NOT TO EXCEED
$7,500,000.00, TO TOWN PARK PLAZA NORTH CONDOMINIUM
ASSOCIATION, INC., TO UNDERWRITE COSTS ASSOCIATED WITH
CONSTRUCTION COSTS AND FOR THE REHABILITATION OF TOWN PARK
PLAZA NORTH CONDOMINIUM LOCATED AT 1945 NW 5TH PLACE, MIAMI,
FL; AUTHORIZING THE EXECUTIVE DIRECTOR TO EXECUTE ALL
DOCUMENTS NECESSARY FOR SAID PURPOSE; FURTHER AUTHORIZING
THE EXECUTIVE DIRECTOR TO DISBURSE FUNDS, AT HIS DISCRETION, ON
A REIMBURSEMENT BASIS OR DIRECTLY TO VENDORS, UPON
PRESENTATION OF INVOICES AND SATISFACTORY DOCUMENTATION;
ALLOCATING FUNDS FROM SEOPW, "OTHER GRANTS AND AIDS,"
ACCOUNT CODE NO. 10050.920101.883000.0000.00000.
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, 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 ..." as stated redevelopment principle;
and
WHEREAS, the Southeast Overtown/Park West Community Redevelopment Plan, at
page 22, outlines the CRA's "Housing Policy", which highlights the importance for maintaining
affordable housing in the Redevelopment Area; and
WHEREAS, built in 1973, Town Park Plaza North Condominium located at 1945 NW 5th
Place, Miami, FL ("Town Park Plaza North"), is a residential housing complex consisting of 21
buildings and 169 condominium units. The condition of Town Park Plaza North poses
significant risk of health and safety to its occupants, and in turn, extensive rehabilitation is
needed, as evidenced by structural cracks, unsecured railings, deteriorating plumbing, rotting
wood, and outdated electrical wiring; and
WHEREAS, in response to these conditions, the Board of Commissioners, by Resolution
Nos. CRA-R-13-0068 and CRA-R-14-0062, authorized the issuance of a grant to Town Park
Plaza North Condominium Association, Inc. ("Grantee"), in an amount not to exceed
City of Miami Page 1 of 2 File ID: 4835 (Revision:) Printed On: 8/29/2025
File ID: 4835 Enactment Number: CRA-R-18-0042
$15,033,333.00 to underwrite the costs associated with the gut -style renovation of Town Park
Plaza North ("Project"); and
WHEREAS, Grantee now seeks additional grant funds from the CRA to complete the
Project due to construction and rehabilitation costs; and
WHEREAS, the Board of Commissioners wish to authorize a grant in an amount not to
exceed $7,500,000.00 to Grantee to underwrite costs associated with unforeseen construction
costs and delays to underwrite the costs associated with the
renovation of Town Park Plaza North; and
WHEREAS, the Board of Commissioners finds that authorizing this Resolution would
further the above mentioned redevelopment goal and objective;
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 additional grant in an
amount not to exceed $7,500,000.00, to Town Park Plaza North Condominium Association, Inc.
to underwrite costs associated with construction and rehabilitation costs to underwrite the costs
associated with the renovation of Town Park Plaza North Condominium located at 1945 NW 5th
Place, Miami, FL.
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,
on a reimbursement basis or directly to vendors, upon presentation of invoices and satisfactory
documentation.
Section 5. Funds to be allocated from SEOPW Tax Increment Fund, entitled "Other
Grants and Aids," Account Code No. 10050.920101.883000.0000.00000.
Section 6. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND LEGAL SUFFICIENCY:
Gorre�7us'Sniver, Exec t e Director 9/17/2018
City of Miami Page 2 of 2 File ID: 4835 (Revision:) Printed on: 8/29/2025