HomeMy WebLinkAboutCRA-R-24-0011 MemorandumSEOPW Board of Commissioners Meeting
January 25, 2024
SOUTHEAST OVERTOWN/PARK WEST
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Christine King Date: February 12, 2024
and Members of the CRA
Board File: 15452
From: James McQueen
Executive Director
Subject: Block 55 Residential, L.P., 2nd
Amended and Restated
Memorandum of Understanding
Enclosures: File # 15452 - Exhibit A
File # 15452 - Exhibit B
BACKGROUND:
A Resolution of the Board of Commissioners of the Southeast Overtown/Park West Community
Redevelopment Agency ("SEOPW CRA"), with attachment(s), approving and authorizing an Amendment
to the 2nd Amended and Restated Memorandum of Understanding ("MOU") dated October 10, 2022,
between the SEOPW CRA and Block 55 Residential Partners, L.P., extending the due date for payment of
$2,351,914.00, due from the sale of excess density, attached and incorporated herein as Exhibit "A".
JUSTIFICATION:
Florida Statutes, Section 163.370(2)(e)(4) of the Community Redevelopment Act authorizes the disposal
of real property.
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 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
FUNDING:
No fiscal impact.
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AGENDA ITEM
FINANCIAL INFORMATION FORM
SEOPW CRA
CRA Board Meeting Date: January 25, 2024
CRA Section:
Approved by:
Executive Director 1/18/2024
Approval:
1
Miguel A Valentin, :,lance Off;cer 1/18/2024
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Southeast Overtown/Park West
Community Redevelopment Agency
File Type: CRA Resolution
Enactment Number: CRA-R-24-0011
File Number: 15452 Final Action Date:1/25/2024
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("CRA"),
WITH ATTACHMENT(S), APPROVING AND AUTHORIZING THE EXECUTION OF
THE 2ND AMENDED AND RESTATED MEMORANDUM OF UNDERSTANDING
("MOU"), ATTACHED AND INCORPORATED HEREIN (EXHIBIT "A"), AMENDING
THE AMENDED AND RESTATED MEMORANDUM OF UNDERSTANDING ("MOU"),
DATED OCTOBER 10, 2022 (EXHIBIT "B"), BETWEEN THE CRA AND BLOCK 55
RESIDENTIAL PARTNERS, L.P.; EXTENDING THE DUE DATE FOR PAYMENT
MONIES FROM THE SALE OF EXCESS DENSITY; 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 Parties mutually agree it is in their best interest to amend the Amend and
Restated Memorandum of Understanding dated October 10, 2022 (Exhibit `B"), among other things,
extending due date for the payment of monies due to the CRA pursuant to paragraphs 5 of the said
Amended and Restated Memorandum of Understanding; and
WHEREAS, the Board finds that it is in the best interest of the Parties to execute the 2'd
Amended and Restated Memorandum of Understanding, attached hereto and incorporated herein as
Exhibit "A",
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 the Executive Director to
execute the 2'd Amended and Restated MOU, attached and incorporated herein as Exhibit "A",.
Section 3. The Executive Director is further authorized to execute any amendment(s) and
all other documents required to consummate the transaction.
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 the same with
the City Clerk.
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Section 5. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND LEGAL SUFFICIENCY:
i
ounsel 1/18/2024
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