HomeMy WebLinkAboutCRA-R-23-0045 MemorandumSEOPW Board of Commissioners Meeting
September 28, 2023
SOUTHEAST OVERTOWN/PARK WEST
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Christine King Date: September 28, 2023
and Members of the CRA
Board File: 14727
From: James McQueen
Executive Director
Subject: Seibert William, et al - Underwriters
for Bond Issuance
Enclosures: File # 14727 - Backup
BACKGROUND:
A Resolution of the Board of Commissioners of the Southeast Overtown/Park West Community
Redevelopment Agency ("SEOPW CRA") the Executive Director recommends Seibert
Williams, et al., be appointed to serve as underwriters for the intended bond issuance
("Purpose"). Seibert Williams, et al., currently serves as an underwriter for the City of Miami
Non -Ad Valorem Special Obligations Bond Issuance (Series 2023). The SEOPW-CRA will be
piggybacking on the current engagement that Seibert Williams, et al., has with the City of
Miami. It is in the best interest of the SEOPW CRA to retain the services of Seibert Williams, et
al., for the Purchase state herein.
JUSTIFICATION:
Section 2, Goals and Principles, Goal #1: Preserve Historic Buildings & Community Heritage.
Section 2, Goals and Principles, Goal #4: Create Jobs within the Community.
Section 2, Goals and Principles, Goal #6: Improve the Quality of Life for Residents.
Section 2, Goals and Principles, Principle #5: Walkable Streets.
Section 2, Goals and Principles, Principle #10: Attractive Streets & Buildings Foster Strong
Identity.
Section 2, Goals and Principles, Principle #14: Restore Distinctive Community Identity.
FUNDING:
Fees will be offset against bond proceeds. There is no fiscal impact in fiscal year 2024 tax
increment budget.
FACT SHEET:
Company name: Seibert Williams, et al.
Address: 100 S. Ashley Dr. Suite 600 Tampa, FL 33602
Scope of work or services (Summary): Seibert Williams, et al., be appointed to serve as
underwriters for the intended bond issuance ("Purpose") and currently serves as an
underwriter for the City of Miami Non -Ad Valorem Special Obligations Bond Issuance
(Series 2023)
Page 2 of 5
AGENDA ITEM
FINANCIAL INFORMATION FORM
SEOPW CRA
CRA Board Meeting Date: September 28, 2023
CRA Section:
Approved by:
Approval:
1
Executive Director 9/21/2023
Miguel A Valentin, :,lance Off;cer 9/21/2023
Page 3 of 5
Southeast Overtown/Park West
Community Redevelopment Agency
File Type: CRA Resolution
Enactment Number: CRA-R-23-0045
File Number: 14727 Final Action Date:9/28/2023
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("SEOPW
CRA"); AUTHORIZING THE EXECUTIVE DIRECTOR TO RETAIN SEIBERT
WILLIAMS, ET AL., TO SERVE AS UNDERWRITERS FOR THE INTENDED BOND
ISSUANCE; PROVIDING FOR INCORPORATION OF RECITALS; PROVIDING FOR
AN EFFECTIVE DATE; FURTHER AUTHORIZING THE EXECUTIVE DIRECTOR TO
NEGOTIATE AND EXECUTE AN AGREEMENT, INCLUDING ANY AND ALL
DOCUMENTS NECESSARY, ALL IN FORMS ACCEPTABLE TO THE GENERAL
COUNSEL; 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 2018 Southeast Overtown/Park West Redevelopment Plan Update (the
"Plan"); and
WHEREAS, The Executive Director recommends Seibert Williams, et al., be appointed to serve
as underwriters for the intended bond issuance; and
WHEREAS, Seibert Williams, et al., currently serves as an underwriter for the City of Miami
Non -Ad Valorem Special Obligations Bond Issuance (Series 2023); and
WHEREAS, The SEOPW CRA will be piggybacking on the current engagement that Seibert
Williams, et al., has with the City of Miami; and
WHEREAS, the Board of Commissioners finds that authorizing this Resolution in; and
WHEREAS, to authorize the Executive Director to negotiate and execute any and all agreements
necessary, all -in forms acceptable to the General Counsel, to retain the services of Seibert Williams, et al.,
to serve as bond underwriters;
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.
Page 4 of 5
Section 2. The Executive Director is hereby authorized to retain the services of Seibert
Williams, et al., to serve as bond underwriters.
Section 3. The Executive Director is authorized to negotiate and execute an agreement,
including any and all necessary documents, and all -in forms acceptable to the General Counsel, for said
purpose.
Section 4. Sections of this Resolution may be renumbered or re -lettered and corrections of
typographical errors which do not affect the intent may be authorized by the Executive Director, or the
Executive Director's designee, without need of public hearing, by filing a corrected copy of same with the
City of Miami City Clerk.
Section 5. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND LEGAL SUFFICIENCY:
4
e Br ounsel 9/21/2023
Page 5 of 5