HomeMy WebLinkAboutCRA-R-22-0047 MemorandumSEOPW Board of Commissioners Meeting
October 27, 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: October 20, 2022
File: 12827
Subject: SEOPW CRA and Block 55
Residential Partners, L.P.
Enclosures: File # 12827- Exhibit A
BACKGROUND:
This Resolution of the Board of Commissioners of the Southeast Overtown/Park West
Community Redevelopment Agency ("SEOPW CRA") retroactively approving this amended
"Exhibit A", The Memorandum of Understanding ("MOU") of October 10, 2022.
The MOU benefits the SEOPW CRA by permitting the transfer/sale of unused development
rights in exchange for a financial return to the SEOPW CRA. Resolution CRA-R-22-0034 with
Exhibit "A", approved a MOU between SEOPW CRA and Block 55 Residential Partners, L.P.
for the unused development rights. This resolution seeks approval of Exhibit "A" attached (MOU
of October 10, 2022).
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 "[t]he 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 $2,476,914.00 from its participation under the Memorandum of Understanding.
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AGENDA ITEM
FINANCIAL INFORMATION FORM
SEOPW CRA
CRA Board Meeting Date: October 27, 2022
CRA Section:
Approved by:
Approval:
1
Executive Director 10/20/2022
e
MigUel A Valenti, Finance Officer 10/20/2022
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Southeast Overtown/Park West
Community Redevelopment Agency
File Type: CRA Resolution
Enactment Number: CRA-R-22-0047
File Number: 12827 Final Action Date:10/27/2022
THIS RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY, WITH
ATTACHMENT(S), RETROACTIVELY APPROVING THIS AMENDED "EXHIBIT A"
THE MEMORANDUM OF UNDERSTANDING OF OCTOBER 10, 2022 ("MOU")
BETWEEN SEOPW CRA AND BLOCK 55 RESIDENTIAL PARTNERS, L.P. FOR THE
UNUSED DEVELOPMENT RIGHTS; 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
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WHEREAS, "Exhibit A", The Memorandum of Understanding of October 10, 2022 ("MOU"),
benefits the SEOPW CRA by permitting the transfer/sale of unused development rights in
exchange for a financial return to the SEOPW CRA. Resolution CRA-R-22-0034 with Exhibit
"A" approved a MOU between SEOPW CRA and Block 55 Residential Partners, L.P. for the
unused development rights retroactively approving this amended "Exhibit A", MOU.
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:
ounsel 10/20/2022
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