The URL can be used to link to this page

Home My WebLink AboutSEOPW CRA 2025-04-24 Agenda PacketCity of Miami 819 NW 2nd Ave 3rd Floor Miami, FL 33136 www.seopwcra.com Meeting Agenda Thursday, April 24, 2025 10:00 AM City Hall 3500 Pan American Drive Miami, FL 33133 SEOPW Community Redevelopment Agency Christine King, Chair, District Five Miguel Angel Gabela, Board Member, District One Damian Pardo, Board Member, District Two Joe Carollo, Board Member, District Three Vacant Position, Board Member, District Four X k k******WW W:Y:Y****iiiiiii SEOPW CRA OFFICE ADDRESS: 819 NW 2ND AVENUE, 3RD FLOOR MIAMI, FL 33136 Phone: (305) 679-6800 I Fax (305) 679-6835 www.miamicra.com Southeast Overtown/Park West CRA Meeting Agenda April 24, 2025 CALL TO ORDER CRA PUBLIC COMMENTS MINUTES APPROVAL 1. Thursday, February 27, 2025 CRA RESOLUTION 1. CRA RESOLUTION 17522 A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("SEOPW CRA") ALLOCATING AN AMOUNT NOT TO EXCEED ONE MILLION THREE HUNDRED NINETY THOUSAND DOLLARS AND ZERO CENTS ($1,390,000.00) TO ESTABLISH THE TENANT IMPROVEMENT GRANT INITIATIVE FOR THE PURPOSE OF PROPERTY IMPROVEMENTS ("PURPOSE"), PURSUANT TO SECTION 163.370 FLORIDA STATUTES, FOR PROSPECTIVE TENANTS AT THE PROPERTY COMMONLY REFERRED TO AS "LYRIC POINT" LOCATED AT 101 NORTHWEST 8TH STREET, MIAMI, FLORIDA 33136 ("PROPERTY"); PROVIDING THAT GRANTS IN EXCESS OF TWENTY-FIVE THOUSAND DOLLARS AND ZERO CENTS ($25,000.00) SHALL BE PRESENTED TO THE BOARD FOR APPROVAL OR RATIFICATION; AUTHORIZING THE EXECUTIVE DIRECTOR TO DISBURSE FUNDS, AT HIS DISCRETION, ON A REIMBURSEMENT BASIS OR DIRECTLY TO VENDORS, UPON PRESENTATION OF INVOICES AND SATISFACTORY DOCUMENTATION, SUBJECT TO THE AVAILABILITY OF FUNDING, ALLOCATED FROM OTHER GRANTS AND AIDS, ACCOUNT NO. 10050.920101.883000.0000.00000; FURTHER AUTHORIZING THE EXECUTIVE DIRECTOR TO NEGOTIATE AND EXECUTE ANY DOCUMENTS NECESSARY, INCLUDING AMENDMENTS AND EXTENSIONS, ALL IN FORMS ACCEPTABLE TO COUNSEL FOR THE PURPOSE STATED HEREIN; PROVIDING FOR THE INCORPORATION OF RECITALS AND AN EFFECTIVE DATE. ADJOURNMENT City ofMianzi Page 2 Printed on 4/17/2025 4.1 SEOPW Board of Commissioners Meeting April 24, 2025 SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY INTER -OFFICE MEMORANDUM To: Board Chair Christine King Date: April 17, 2025 and Members of the CRA Board File: 17522 From: James McQueen Executive Director Subject: Authorize Allocation of Funds for Tenant Improvement Grant Initiative at "Lyric Point" Enclosures: BACKGROUND: A Resolution of the Board of Commissioners ("Board") of the Southeast Overtown/Park West Community Redevelopment Agency ("SEOPW CRA"), with attachment(s), allocating an amount not to exceed One Million Three Hundred Ninety Thousand Dollars and Zero Cents ($1,390,000.00) to establish the Tenant Improvement Grant Initiative for the purpose of property improvements ("Purpose"), pursuant to Section 163.370 Florida Statutes, for prospective tenants at the property commonly referred to as "Lyric Point" located at 101 Northwest 8th Street, Miami, Florida 33136 ("Property"). The SEOPW CRA is leasing four (4) retail/commercial units ("Leased Spaces") at the Property, which is immediately adjacent to the historic Lyric Theatre Complex. The SEOPW CRA is currently undertaking property improvements within the Leased Spaces, pursuant to Section 163.370 Florida Statutes, in order to accommodate future commercial tenant occupancy. It is recommended that the Board of the SEOPW CRA approve and adopt the attached Resolution, authorizing the SEOPW CRA to allocate funds for the Purpose stated herein. JUSTIFICATION: Section 163.340(9), Florida Statutes defines "redevelopment" as "undertakings, activities, or projects" in a Redevelopment Area "for the elimination and prevention of the development or spread of slums and blight...." Section 163.370(2)(c)(5), Florida Statutes further authorizes the SEOPW CRA to implement plans for a program of voluntary improvements in accordance with the Plan. Section 163.380, Florida Statutes authorizes the SEOPW CRA to "lease, dispose of, or otherwise transfer real property or any interest therein" acquired within the Redevelopment Area "to any private person ... and may enter into [commercial] contracts" in order to "assist in preventing the development or spread of future slums or blighted areas." Packet Pg. 3 4.1 Section 2, Goal 4 of the 2018 Southeast Overtown/Park West Community Redevelopment Agency Plan Update (the "Plan") encourages the "creat[ion of] jobs within the community" as a stated redevelopment goal. Section 2, Goal 6 of the Plan lists "[i]mprov[ing] of quality of life for residents" as a stated redevelopment goal. Section 2, Principle 4 of the Plan reinforces that a "variety in employment opportunities" be made available to residents within the Redevelopment Area as a stated redevelopment principle. Section 2, Principle 6 of the Plan insists that local businesses be promoted in order to "improve the neighborhood economy" and "expand the economic opportunities of present and future residents and businesses." FUNDING: $1,390,000.00 - from Other Grants and Aids - Account No. 10050.920101.883000.0000.0000. FACT SHEET: Funding request: $1,390,000.00 Scope of work or services (Summary): To provide grants for tenant improvements for future tenants at the "Lyric Point" property. Page 2 of 6 Packet Pg. 4 4.1 AGENDA ITEM FINANCIAL INFORMATION FORM SEOPW CRA CRA Board Meeting Date: April 24, 2025 CRA Section: Brief description of CRA Agenda Item: Authorizing additional funds in an amount not to exceed $1,390,000.00 for the tenant improvement grant initiative relating to the "Lyric Point" located at 101 NW 8th Street. Project Number YES, there Account Code: (if applicable): are sufficient funds in Line Item: 10050.920101.883000.0000.00000 Amount: $1 , 3 9 0 , 0 0 0.0 0 NO (Complete the following source of funds information): Amount budgeted in the line item: $ Balance in the line item: $ Amount needed in the line item: $ Sufficient funds will be transferred from the following line items: ACTION ACCOUNT NUMBER TOTAL Project No./Index/Minot Object From $ To $ From $ To $ Comments: Approved by: Executive Director 4/17/2025 Approval: -1\LLL Miguel A Valcntirr, Finance Office 4/17/2025 Page 3 of 6 Packet Pg. 5 4.1 Southeast Overtown/Park West Community Redevelopment Agency File Type: CRA Resolution Enactment Number: File Number: 17522 Final Action Date: A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("SEOPW CRA") ALLOCATING AN AMOUNT NOT TO EXCEED ONE MILLION THREE HUNDRED NINETY THOUSAND DOLLARS AND ZERO CENTS ($1,390,000.00) TO ESTABLISH THE TENANT IMPROVEMENT GRANT INITIATIVE FOR THE PURPOSE OF PROPERTY IMPROVEMENTS ("PURPOSE"), PURSUANT TO SECTION 163.370 FLORIDA STATUTES, FOR PROSPECTIVE TENANTS AT THE PROPERTY COMMONLY REFERRED TO AS "LYRIC POINT" LOCATED AT 101 NORTHWEST 8TH STREET, MIAMI, FLORIDA 33136 ("PROPERTY"); PROVIDING THAT GRANTS IN EXCESS OF TWENTY-FIVE THOUSAND DOLLARS AND ZERO CENTS ($25,000.00) SHALL BE PRESENTED TO THE BOARD FOR APPROVAL OR RATIFICATION; AUTHORIZING THE EXECUTIVE DIRECTOR TO DISBURSE FUNDS, AT HIS DISCRETION, ON A REIMBURSEMENT BASIS OR DIRECTLY TO VENDORS, UPON PRESENTATION OF INVOICES AND SATISFACTORY DOCUMENTATION, SUBJECT TO THE AVAILABILITY OF FUNDING, ALLOCATED FROM OTHER GRANTS AND AIDS, ACCOUNT NO. 10050.920101.883000.0000.00000; FURTHER AUTHORIZING THE EXECUTIVE DIRECTOR TO NEGOTIATE AND EXECUTE ANY DOCUMENTS NECESSARY, INCLUDING AMENDMENTS AND EXTENSIONS, 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 163.340(9), Florida Statutes defines "redevelopment" as "undertakings, activities, or projects" in a Redevelopment Area "for the elimination and prevention of the development or spread of slums and blight...."; and WHEREAS, Section 163.370(2)(c)(5), Florida Statutes further authorizes the SEOPW CRA to implement plans for a program of voluntary improvements in accordance with the Plan; and WHEREAS, Section 163.380, Florida Statutes authorizes the SEOPW CRA to "lease, dispose of, or otherwise transfer real property or any interest therein" acquired within the Redevelopment Area "to any private person ... and may enter into [commercial] contracts" in order to "assist in preventing the development or spread of future slums or blighted areas"; and Page 4 of 6 Packet Pg. 6 4.1 WHEREAS, Section 2, Goal 4 of the Plan encourages the "creat[ion of] jobs within the community" as a stated redevelopment goal; and WHEREAS, Section 2, Goal 6 of the Plan focuses on "improv[ing] the quality of life for residents" as a stated redevelopment goal; and WHEREAS, Section 2, Principle 4 of the Plan reinforces that a "variety in employment opportunities" be made available to residents within the Redevelopment Area as a stated redevelopment principle; and WHEREAS, Section 2, Principle 6 of the Plan insists that local businesses be promoted in order to "improve the neighborhood economy" and "expand the economic opportunities of present and future residents and businesses"; and WHEREAS, the SEOPW CRA leases four (4) units of commercial space at the property commonly referred to as "Lyric Point" located at 101 North West 8`" Street, Miami, Florida 33136 ("Property"), immediately adjacent to the historic Lyric Theatre Complex; and WHEREAS, the four (4) units in the Property include the following addresses: 101 North West 8th Street, Unit 100, 101 North West 8th Street, Unit 102, 115 North West 8th Street, and 113 North West 8th Street, Miami, Florida 33136, which contain a total size of approximately 7,092 square feet of mixed - used space in the aggregate ("Leased Spaces"); and WHEREAS, the SEOPW CRA is currently undertaking vanilla box build -out improvements to the Leased Spaces and has run into increases due to accommodating the layout and needs of future tenants, rerouting of services to accommodate other occupied spaces on the Property, as well as upgrades to the existing Property's electrical room to accommodate new tenant electrical service(s); and WHEREAS, the SEOPW CRA desires to establish the Tenant Improvement Grant Initiative ("Program") for the purpose of property improvements, including cost increases related to vanilla box build -out improvements, pursuant to Section 163.370 Florida Statutes, at the Property ("Purpose"); and WHEREAS, the Board of Commissioners wishes to authorize an amount not to exceed One Million Three Hundred Ninety Thousand Dollars and Zero Cents ($1,390,000.00) to fund the Program; and WHEREAS, the Program shall exist for a period of May 2025 to May 2030, unless further extended by approval of this Board; and WHEREAS, the Board of Commissioners finds that authorizing this Resolution would further the SEOPW CRA redevelopment goals and objectives; 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 Tenant Improvement Grant Initiative ("Program") is hereby established and shall be funded in an amount not to exceed One Million Three Hundred Ninety Thousand Dollars and Zero Cents ($1,390,000.00). Page 5 of 6 Packet Pg. 7 4.1 Section 3. All grants in excess of Twenty -Five Thousand Dollars and Zero Cents ($25,000.00) shall be presented to the Board of Commissioners for approval or ratification. Section 4. The Executive Director is authorized to disburse funds, at his discretion, on a reimbursement basis or directly to vendors, upon the presentation of invoices and satisfactory documentation, subject to the availability of funding, from SEOPW Tax Increment Fund, "Other Grants And Aids," Account No. 10050.920101.883000.0000.00000 for the Purpose stated herein. Section 5. The Executive Director is authorized to negotiate and execute any documents necessary, including amendments and extensions, all in forms acceptable to Counsel for the Purpose stated herein. Section 6. 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. Section 7. This Resolution shall become effective immediately upon its adoption. APPROVED AS TO FORM AND LEGAL SUFFICIENCY: ounsel 4/17/2025 Page 6 of 6 Packet Pg. 8