The URL can be used to link to this page

Home My WebLink AboutCRA-R-24-0072Southeast Overtown/Park West Community Redevelopment Agency Legislation 819 NW 2d Ave 3rd Floor Miami, FL 33136 www.seopwcra.com CRA Resolution: CRA-R-24-0072 File Number: 16956 Final Action Date:11/21/2024 A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("SEOPW CRA"), WITH ATTACHMENT(S), RESCINDING RESOLUTION NO. CRA-R-24-0065, ADOPTED ON OCTOBER 24, 2024, IN ITS ENTIRETY AND ENACTING THIS NEW RESOLUTION AUTHORIZING THE EXECUTIVE DIRECTOR TO NEGOTIATE AND EXECUTE A LEASE AGREEMENT ("LEASE"), IN SUBSTANTIALLY THE ATTACHED FORM, BETWEEN THE SEOPW CRA AND BLOCK 55 ORG OWNER, LLC, A FLORIDA LIMITED LIABILITY COMPANY ("LANDLORD") FOR THE USE OF ONE THOUSAND (1,000) SQUARE FEET OF RETAIL AND/OR COMMERCIAL SPACE ("PURPOSE") AT 249 N.W. 6TH STREET, SUITE 108, MIAMI, FLORIDA, 33136 ("PROPERTY"), FOR A TEN (10) YEAR INITIAL TERM, AT A TOTAL BASE RENT OF TWENTY THOUSAND DOLLARS AND ZERO CENTS ($20,000.00) ANNUALLY, WITH A FIVE PERCENT (5%) ANNUAL INCREASE AFTER THE FIRST LEASE PERIOD, ALLOCATING FUNDS FROM RENTALS AND LEASES ACCOUNT NO. 10050.920101.544000.0000.00000; FURTHER AUTHORIZING THE EXPENDITURE OF FUNDS IN THE AMOUNT NOT TO EXCEED FOUR HUNDRED TWENTY-EIGHT THOUSAND THREE HUNDRED NINETY-ONE DOLLARS AND SIXTY-THREE CENTS ($428,391.63) FOR CONSTRUCTION COSTS RELATED TO THE SEOPW CRA BUILD OUT, AS ESTIMATED IN THE ATTACHED AND INCORPORATED EXHIBIT "B," TO BE EXPENDED FROM THE CONSTRUCTIONS IN PROGRESS — ACCOUNT NO. 10050.920101.67000.0000.00000; FURTHER AUTHORIZING THE EXECUTIVE DIRECTOR TO NEGOTIATE AND EXECUTE ANY AND ALL DOCUMENTS NECESSARY, INCLUDING ANY AND ALL AMENDMENTS THERETO, ALL IN FORMS ACCEPTABLE TO COUNSEL FOR THE PURPOSE STATED HEREIN; PROVIDING FOR THE INCORPORATION OF RECITALS AND 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 Updated Southeast Overtown/Park West Community Redevelopment Plan ("Plan"); and WHEREAS, Section 163.370, Florida Statutes authorizes the SEOPW CRA to enter into leases for property within the Redevelopment Area; and WHEREAS, Section 2, Goal 2, of the Plan provides justification to leverage public -private partnerships to create viable opportunities within the Redevelopment Area; and WHEREAS, Section 2, Goal 6, of the Plan provides justification to improve the quality of life for residents; and City of Miami Page 1 of 3 File ID: 16956 (Revision:) Printed On: 9/15/2025 File ID: 16956 Enactment Number: CRA-R-24-0072 WHEREAS, Section 2, Principle 4, of the Plan provides justification to create employment opportunities within the neighborhood, so that they be made available to existing residents; and WHEREAS, through Resolution No. CRA-R-24-0065, the Board of Commissioners authorized the Executive Director to negotiate and execute a lease agreement ("Lease") with Block 55 Org Owner, LLC, a Florida Limited Liability Company ("Landlord"); and WHEREAS, the SEOPW CRA would like to rescind the previous resolution, in its entirety to clarify the terms; and WHEREAS, Landlord and the SEOPW CRA wish to enter into a Lease Agreement ("Lease"), in substantially the attached form, for the property located at 249 N.W. 6th Street, Miami, Florida 3316 ("Property")„ which requires construction and buildout for the SEOPW CRA's use; and WHEREAS, the Property is currently owned by the Landlord and contains three (3) floors of retail and office space, as well as eleven (11) floors of residential units, and four (4) levels of parking; and WHEREAS, the Landlord has access to approximately Two Hundred Fifty Thousand (250,000) square feet of floor area, in the aggregate, within the Property and would like to lease approximately One Thousand (1,000) leasable square feet at Suite 108 ("Premises") to the SEOPW CRA for retail and/or commercial use ("Purpose"); and WHEREAS, the Lease shall have an initial term of ten (10) years at a total base rent of Twenty Thousand Dollars and Zero Cents ($20,000.00) annually, with a Five Percent (5%) annual increase after the first lease year; and WHEREAS, the estimated construction costs, attached and incorporated herein as Exhibit "B," for the SEOPW CRA's buildout of the Premises are Four Hundred Twenty -Eight Thousand Three Hundred Ninety -One Dollars and Sixty -Three Cents ($428,391.63); and WHEREAS, pursuant to the terms of the Lease, the Landlord will be responsible for the construction of the SEOPW CRA's buildout space; and WHEREAS, the Board of Commissioners finds that authorizing this Resolution would further the SEOPW CRA's redevelopment goals and objectives; and WHEREAS, based on the recommendation and findings of the Executive Director, it is in the SEOPW CRA's best interest for the Board of Commissioners to authorize the Executive Director to negotiate and execute any and all documents necessary, including any and all amendments, all in forms acceptable to Counsel for the Purpose stated herein; 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. Resolution No. CRA-R-24-0065, adopted on October 24, 2024, is hereby rescinded in its entirety. City of Miami Page 2 of 3 File ID: 16956 (Revision:) Printed on: 9/15/2025 File ID: 16956 Enactment Number: CRA-R-24-0072 Section 3. The Executive Director is hereby authorized to negotiate and execute a Lease, in substantially the form, with the Landlord for use of the Premises at the Property, for an initial term of ten (10) years from commencement, at a total base rent of Twenty Thousand Dollars and Zero Cents ($20,000.00) annually, with a Five Percent (5%) annual increase after the first lease year, for the Purpose stated herein. Section 4. The Executive Director is further authorized to expend funds for the base and annual rent, including the Five Percent (5%) annual increase after the first lease year, from the Rentals and Leases Account No. 10050.920101.544000.0000.00000 to Landlord to further the Purpose stated herein. Section 5. The Executive Director is further authorized to expend funds from the Constructions in Progress — Account No. 10050.920101.67000.0000.00000 to Landlord in the amount not to exceed Four Hundred Twenty -Eight Thousand Three Hundred Ninety -One Dollars and Sixty -Three Cents ($428,391.63) to complete the construction buildout of the Premises at the Property for the Purpose stated herein. Section 6. The Executive Director is hereby authorized to negotiate and execute any and all additional documents necessary, including any and all amendments thereto, all in forms acceptable to Counsel for the Purpose stated herein. Section 7. This Resolution shall become effective immediately upon its adoption. APPROVED AS TO FORM AND LEGAL SUFFICIENCY: e Br ounsel 11/14/2024 City of Miami Page 3 of 3 File ID: 16956 (Revision:) Printed on: 9/15/2025