HomeMy WebLinkAboutCRA-R-22-0026 MemorandumSEOPW Board of Commissioners Meeting
June 23, 2022
SOUTHEAST OVERTOWN/PARK WEST
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Christine King
and Members of the CRA
Board
From: James McQueen
Executive Director
Date: June 16, 2022
File: 12143
Subject: SEOPW CRA and Block 55
Residential Partners, L.P.
Enclosures: File # 12143 - Exhibit A
BACKGROUND:
This Resolution of the Board of Commissioners of the Southeast Overtown/Park West Community
Redevelopment Agency ("SEOPW CRA") approves a Memorandum of Understanding (EXHIBIT "A")
between CRA and Block 55 Residential Partners, L.P. for the sale and transfer of unused development
rights.
This Memorandum of Understanding benefits the SEOPW CRA by permitting the transfer/sale of
unused development rights in exchange for a financial return to the SEOPW CRA.
JUSTIFICATION:
Florida Statutes, Section 163.370(2)(e)(4) of the Community Redevelopment Act authorizes the disposal
of real property.
Section 2, Goal 3 on page 11 of the Southeast Overtown/Park West Community Redevelopment Plan
("Plan") lists the "creat[ion of] infill housing, diversity in housing types, and retaining affordable housing,
as a stated redevelopment goal.
Section 2, Goal 4 and 6 on page 11 of the Plan lists the "creat[ion of] jobs within the community" and
"improving quality of life for residents" as stated redevelopment goals.
Section 2, Principle 4 on page 14 of the Plan provides that "Mlle neighborhood... retain access to
affordable housing..." as a stated redevelopment principle.
Section 2, Principle 4 on page 14 of the Plan provides that "employment opportunities be made available
to existing residents..." as a stated redevelopment principle.
Section 2, Principle 6 on page 15 of the Plan further provides that in order to "address and improve the
neighborhood economy and expand economic opportunities of present and future residents and businesses
[,] [it] is necessary to support and enhance existing businesses and... attract new businesses that provide
needed services and economic opportunities..." as a stated redevelopment principle.
FUNDING:
There is no financial impact to the SEOPW CRA, but the SEOPW CRA will receive not less than
$1,835,000.00 from its participation under the Memorandum of Understanding.
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AGENDA ITEM
FINANCIAL INFORMATION FORM
SEOPW CRA
CRA Board Meeting Date: June 23, 2022
CRA Section:
Approved by:
Approval:
1
Executive Director 6/16/2022
Miguel A Valentin, :,lance Off;cer 6/16/2022
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Southeast Overtown/Park West
Community Redevelopment Agency
File Type: CRA Resolution
Enactment Number: CRA-R-22-0026
File Number: 12143 Final Action Date:6/23/2022
THIS RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY, WITH
ATTACHMENT(S), APPROVING A MEMORANDUM OF UNDERSTANDING
BETWEEN THE SEOPW CRA AND BLOCK 55 RESIDENTIAL PARTNERS, P.L., FOR
THE SALE AND OR TRANSFER OF UNUSED DEVELOPMENT RIGHTS, ATTACHED
AND INCORPORATED HEREIN AS EXHIBIT "A" FOR THE DISPOSITION AND
DEVELOPMENT OF BLOCK 55; AUTHORIZING THE EXECUTIVE DIRECTOR TO
EXECUTE ANY AND ALL DOCUMENTS REQUIRED TO CONSUMMATE THE
TRANSACTION; PROVIDING FOR INCORPORATION OF RECITALS; AND
PROVIDING FOR AN EFFECTIVE DATE.
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 2009 Southeast Overtown/Park West Community Redevelopment Plan
("Plan"); and
WHEREAS, Florida Statutes, Section 163.370(2)(e)(4) of the Community Redevelopment Act
authorizes the disposal of real property; and
WHEREAS, Section 2, Goal 3 on page 11 of the Plan lists the "creat[ion of] infill housing,
diversity in housing types, and retaining affordable housing, as a stated redevelopment goal; and
WHEREAS, Section 2, Goal 4 and 6 on page 11 of the Plan lists the "creat[ion of] jobs within the
community" and "improving quality of life for residents" as stated redevelopment goals; and
WHEREAS, Section 2, Principle 4 on page 14 of the Plan provides that "[t]he
neighborhood... retain access to affordable housing..." as a stated redevelopment principle; and
WHEREAS, Section 2, Principle 4 on page 14 of the Plan provides that "employment
opportunities be made available to existing residents..." as a stated redevelopment principle; and
WHEREAS, Section 2, Principle 6 on page 15 of the Plan further provides that in order to
"address and improve the neighborhood economy and expand economic opportunities of present and
future residents and businesses [,] [it] is necessary to] support and enhance existing businesses
and... attract new businesses that provide needed services and economic opportunities..." as a stated
redevelopment principle; and
WHEREAS, the Memorandum of Understanding attached hereto and incorporated herein as
Exhibit "A", and contains, in part, the following:
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• In exchange for the efforts of the SEOPW CRA, the Block 55 Residential Owners, L.P.,
shall pay to the SEOPW CRA fifteen percent (15%) of the gross purchase price received
by Block 55 Residential Owner on the sale of 477 units out of 578 units, and 20% of the
gross purchase price received on the sale of the balance (101 units) of the 578 units, but
in no event shall the gross sale price be less than Twenty Thousand and no/100 Dollars
($20,000.00) per residential unit.
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, as attached hereto and incorporated herein
as Exhibit "A", and approves the terms contained therein.
Section 3. The Executive Director is authorized to execute any and all documents required
to consummate the transaction.
Section 4. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND LEGAL SUFFICIENCY:
e Br ounsel
6/16/2022
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