HomeMy WebLinkAboutCRA-R-25-0021Southeast Overtown/Park West
Community Redevelopment Agency
Legislation
819 NW 2nd Ave
3rd Floor
Miami, FL 33136
www.seopwcra.com
CRA Resolution: CRA-R-25-0021
File Number: 17522 Final Action Date:4/24/2025
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
WHEREAS, Section 2, Goal 4 of the Plan encourages the "creat[ion of] jobs within the
community" as a stated redevelopment goal; and
City of Miami Page 1 of 3 File ID: 17522 (Revision:) Printed On: 9/16/2025
File ID: 17522 Enactment Number: CRA-R-25-0021
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 8th 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).
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.
City of Miami Page 2 of 3 File ID: 17522 (Revision:) Printed on: 9/16/2025
File ID: 17522 Enactment Number: CRA-R-25-0021
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:
i
y„wire3-TN,Wsawararalrounsel 4/17/2025
City of Miami Page 3 of 3 File ID: 17522 (Revision:) Printed on: 9/16/2025