HomeMy WebLinkAboutCRA-R-21-0002Southeast Overtown/Park West
Community Redevelopment Agency
Legislation
CRA Resolution: CRA-R-21-0002
819 NW 2"d Ave
3rd Floor
Miami, FL 33136
www.seopwcra.com
File Number: 8880 Final Action Date:4/15/2021
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY
AUTHORIZING ADDITIONAL FUNDING TO TOWN PARK PLAZA SOUTH, INC.
IN AN AMOUNT NOT TO EXCEED $660,938.31 FOR THE COMPLETION OF
THE AFFORDABLE HOUSING REHABILITATION PROJECT AT TOWN PARK
PLAZA SOUTH; 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 ("SEOPW
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 2018 Updated Southeast Overtown/Park West Redevelopment Plan (the
"Updated Plan"); and
WHEREAS, Section 163.335(6), Florida Statutes, (the "Act") found and declared that there exists
"... a severe shortage of housing affordable to residents of low or moderate income, including the
elderly... [and] such condition[s] affect the health, safety and welfare of the residents ... and retards their
growth and economic and social development ...."; and
WHEREAS, Section 2, Goal 3, on page 10 of the Updated Plan lists
"encourag [ing] ... affordable... housing within the CRA" as a stated redevelopment goal; and
WHEREAS, Section 2, Goal 6, on page 10 of the Updated Plan lists "creating housing... designed
to improve the quality of life for Overtown residents in the CRA" as a stated redevelopment goal; and
WHEREAS, Section 2, Principle 2, on page 13 of the Plan also provides that "the neighborhood
must retain access to affordable housing even as the neighborhood becomes more desirable to households
with greater means" as a stated redevelopment principle; and
WHEREAS, Section 2, Principle 3, on page 13 of the Plan further provides that "there must be
variety in housing options" as a stated redevelopment principle; and
WHEREAS, Town Park Plaza South, Inc. ("TPPS") requests additional funding in an amount not
to exceed $660,938.31, to underwrite costs associated with the completion of the rehabilitation of 116
affordable housing units at TPPS, located at 1798 N.W. 7th Avenue, Miami, Florida 33136 (Folio #: 01-
3136-066-0001) (the "Project"); and
WHEREAS, on June 29, 2015, pursuant to Resolution No. CRA-R-15-0025, the Board of
Commissioners authorized a grant in the amount of $10,000,000.00 for the Project; and
City of Miami Page 1 of 3 File ID: 8880 (Revision:) Printed On: 9/8/2025
File ID: 8880 Enactment Number: CRA-R-21-0002
WHEREAS, on July 25, 2016, the Board of Commissioners, by Resolution No. CRA-R-16-0037,
authorized additional funding in an amount not to exceed $3,500,00.00 for a total of $13,500,000.00; and
WHEREAS, on December 16, 2019, the Board of Commissioners, by Resolution No. CRA-R-19-
0048, authorized additional funding in an amount not to exceed $1,602,658.00 for a total of
$15,102,658.00; and
WHEREAS, on May 28, 2020, Board of Commissioners, by Resolution No. CRA-R-20-0009,
authorized additional funding in an amount not to exceed $1,302,753.97 for a total of $16,405,411.97;
and
WHEREAS, the Project is 95% complete, however, additional funding is needed to finalize the
Project primarily due to increased relocation costs as a result of limited housing availability and increased
rental expenses. Also, this additional funding request will cover additional insurance costs, finalizing the
roof and general conditions for the Project; and
WHEREAS, TPPS seeks additional funding in the amount of $660,938.31, for a total overall
grant amount of $17,066,350.28, which will be sufficient to complete the Project. Completion of the
Project ultimately increases the affordable housing stock in the Redevelopment Area; and
WHEREAS, the Board of Commissioners wishes to authorize additional funding to TPPS, in an
amount not to exceed $660,938.31, to underwrite costs associated with the completion of the Project; and
WHEREAS, the Board of Commissioners finds that authorizing this Resolution would further the
aforementioned redevelopment goals and 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
adopted by reference and incorporated herein as if fully set forth in this Section.
Section 2. The Board of Commissioners hereby authorizes additional funding to Town Park
Plaza South, Inc. in an amount not to exceed $660,938.31, to underwrite costs associated with the
completion of the affordable housing rehabilitation project at Town Park Plaza South.
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. $660,938.31 allocated from the SEOPW - "Other Grants and Aids" Account No.
10050.920101.883000.0000.00000.
Section 6. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND LEGAL SUFFICIENCY:
City of Miami Page 2 of 3 File ID: 8880 (Revision:) Printed on: 9/8/2025
File ID: 8880 Enactment Number: CRA-R-21-0002
Anna -Bo
hief Legal Counsel 4/15/2021
City of Miami Page 3 of 3 File ID: 8880 (Revision:) Printed on: 9/8/2025