HomeMy WebLinkAboutCRA-R-25-0052Southeast Overtown/Park West
Community Redevelopment Agency
Legislation
CRA Resolution: CRA-R-25-0052
819 NW 2nd Ave
3rd Floor
Miami, FL 33136
www.seopwcra.com
File Number: 18207 Final Action Date:9/25/2025
A RESOLUTION OF THE BOARD OF COMMISSIONERS ("BOARD") OF THE
SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT
AGENCY ("SEOPW CRA"), WITH ATTACHMENT(S), BY RESOLUTION CRA-R-
24-0074, ADOPTED ON NOVEMBER 21, 2024, ACCEPTING THE
NEGOTIATIONS BETWEEN THE SEOPW CRA AND CORAL ROCK ST. AGNES
PARTNERS, LLC, A FLORIDA LIMITED LIABILITY COMPANY ("DEVELOPER"),
AS MORE PARTICULARLY DESCRIBED IN EXHIBIT "A," TO REDEVELOP
FOUR (4) CONTIGUOUS LAND PARCELS, LOCATED AT 1141 NORTHWEST
3RD AVENUE, 242 NORTHWEST 12TH STREET, 234 NORTHWEST 12TH
STREET, AND 224 NORTHWEST 12TH STREET, MIAMI, FLORIDA 33136
("PROPERTY") INTO A 0.68-ACRE ASSEMBLAGE FOR A MIXED -USE
AFFORDABLE HOUSING DEVELOPMENT PROJECT, FURTHER
AUTHORIZING THE EXECUTIVE DIRECTOR TO EXECUTE A DEVELOPMENT
AGREEMENT ("AGREEMENT"), IN SUBSTANTIALLY THE FORM ATTACHED
AS EXHIBIT "A," WITH DEVELOPER, AS THE TOP RANKED PROPOSER TO
REQUEST FOR PROPOSALS ("RFP") NO. 24-01 ("PURPOSE"); AUTHORIZING
THE DISPOSITION OF THE PROPERTY AT OR BELOW MARKET RATE TO
DEVELOPER, SUBJECT TO A REVERTER; ALLOCATING AND
APPROPRIATING A PORTION OF THE PROCEEDS FROM THE SERIES 2025
BOND ISSUANCE, IN AN AMOUNT NOT TO EXCEED FIFTEEN MILLION
DOLLARS AND ZERO CENTS ($15,000,000.00), FOR PROJECT COSTS, FROM
ACCOUNT NO. 300000.920101.883000.0000.00000 — "SEOPW CAPITAL
PROJECTS GRANT AND AIDS" FOR THE PURPOSE STATED HEREIN,
SUBJECT TO ALL FEDERAL, STATE AND LOCAL LAWS THAT REGULATE
THE USE OF SUCH FUNDS FOR SAID PURPOSE, AND SUBJECT TO
AVAILABILITY OF FUNDING; FURTHER DIRECTING THE EXECUTIVE
DIRECTOR TO PRESENT ANY AMENDMENTS TO THE AGREEMENT TO THE
SEOPW CRA BOARD FOR ITS CONSIDERATION AND, IF SATISFACTORY,
APPROVAL; FURTHER AUTHORIZING THE EXECUTIVE DIRECTOR TO
NEGOTIATE AND EXECUTE ANY AND ALL DOCUMENTS NECESSARY, ALL IN
FORMS ACCEPTABLE TO COUNSEL, INCLUDING, BUT NOT LIMITED TO, A
RESTRICTIVE COVENANT TO BE RECORDED IN THE PUBLIC RECORDS OF
MIAMI-DADE COUNTY, FLORIDA, FOR SAID PURPOSE; 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 (the "Plan"); and
WHEREAS, Section 163.380, Florida Statutes, authorizes the SEOPW CRA to "dispose of, or
otherwise transfer [acquired] property [within the Redevelopment Area] or any interest therein ... to any
private person ..." for uses in accordance with the Plan; and
City of Miami Page 1 of 4 File ID: 18207 (Revision:) Printed On: 10/7/2025
File ID: 18207 Enactment Number: CRA-R-25-0052
WHEREAS, affordable housing, and the lack thereof, is a significant issue in the City of Miami
and within the Redevelopment Area, specifically; and
WHEREAS, Section 2, Goal 2, of the Plan upholds "expand[ing] the tax base using public -
private principles" and "creat[ing] viable commercial corridors ... through Public -Private Partnerships,"
as a stated redevelopment goal; and
WHEREAS, Section 2, Goal 3, of the Plan emphasizes "working with the [public] and the private
sector to encourage and create a sound balance of ... affordable ... housing within the [SEOPW] CRA,"
as a stated redevelopment goal; and
WHEREAS, Section 2, Goal 6, of the Plan encourages "[i]mproving the [q]uality of [1]ife for
residents [and] creating housing ...," as a stated redevelopment goal; and
WHEREAS, Section 2, Principle 2, of the Plan proposes that the "neighborhood ... retain access
to affordable housing," as a stated redevelopment principle; and
WHEREAS, Section 2, Principle 3, of the Plan describes that there "must be variety in
[affordable] housing options," as a stated redevelopment principle; and
WHEREAS, the SEOPW CRA owns four (4) contiguous land parcels, totaling 29,881 square feet
in the aggregate, located at 1141 Northwest 31d Avenue (Folio No. 01-3136-037-0540); 242 Northwest
12th Street (Folio No. 01-3136-037-0520); 234 Northwest 12th Street (Folio No. 01-3136-037-0510); and
224 Northwest 12th Street (Folio No. 01-3136-037-0500), Miami, Florida 33136 (the "Property"); and
WHEREAS, on April 17, 2024, the SEOPW CRA issued Request for Proposals ("RFP") No. 24-
01 with the intent to redevelop the Property into a 0.68-acre assemblage for an affordable housing
development, in accordance with the Plan; and
WHEREAS, on November 21, 2024, the Board of Commissioners ("Board"), by Resolution
CRA-R-24-0074, accepted the selection committee's evaluation, in accordance with the guidelines
established within the RFP, and recommendation to select Coral Rock St. Agnes Partners, LLC, a Florida
Limited Liability Company ("Developer"), as the top ranked proposer; and
WHEREAS, the Executive Director was further authorized to negotiate terms with Developer and
present a proposed development agreement to the Board for its consideration, and, if satisfactory,
approval and award; and
WHEREAS, terms have been negotiated between the SEOPW CRA and Developer, as more
particularly described in the proposed Development Agreement ("Agreement"), in substantially the form
attached as Exhibit "A," which provides for the disposition of the Property in furtherance of the
Developer's compliance with the RFP requirements to redevelop the Property for the Northwest 12th
Street Affordable Housing Development Project ("Purpose"); and
WHEREAS, the Agreement also provides for a grant to Developer for project construction costs,
in an amount not to exceed Fifteen Million Dollars and Zero Cents ($15,000,000.00), to be funded by a
portion of the proceeds from the 2025 Series A Bond Issuance'; and
1 Pursuant to CRA-R-25-0014 and R-25-0135.
City of Miami Page 2 of 4 File ID: 18207 (Revision:) Printed on: 10/7/2025
File ID: 18207 Enactment Number: CRA-R-25-0052
WHEREAS, a Restrictive Covenant, with a reverter clause, shall be recorded on the Property, and
any other land transferred in furtherance of the project stated, in the event Developer fails to be in
compliance with the RFP requirements and as described herein; and
WHEREAS, the Board wishes to authorize the disposition of the Property to Developer at or
below market rate, and the allocation and appropriation of a portion of the Series 2025 Bond proceeds, in
an amount not to exceed $15,000,000.00, for project costs, all subject to a reverter, for said Purpose; and
WHEREAS, the Board finds that authorizing this Resolution would further the SEOPW CRA's
redevelopment goals and objectives;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE
SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY:
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 hereby approves and authorizes the acceptance of negotiations for the
redevelopment of the Property for the Purpose stated herein.
Section 3. The Board hereby further authorizes the Executive Director to execute the
Agreement, in substantially the form attached as Exhibit "A," between the SEOPW CRA and Developer,
for the Purpose stated herein.
Section 4. The Board hereby further authorizes the sale of the Property to Developer at or
below market rate, subject to a reverter, for said Purpose.
Section 5. The Board hereby further authorizes the Executive Director to allocate and
appropriate a portion of proceeds from the Series 2025 Bond Issuance as a grant, in an amount not to
exceed $15,000,000.00, from Account No. 300000.920101.883000.0000.00000 — "SEOPW Capital
Projects Grant and Aids," to Developer to assist with project costs, all subject to a reverter, for said
Purpose.
Section 6. The Executive Director is hereby authorized2 to negotiate and execute any
agreements, including any and all documents necessary, all in forms acceptable to Counsel, including, but
not limited to, a Restrictive Covenant to be recorded in the public records of Miami -Dade County,
Florida, for said Purpose.
Section 7. The Executive Director is hereby authorized to further negotiate amendments and
clarifications to the Agreement with Developer, and is directed to present any amendments or clarification
to the SEOPW CRA Board for its consideration, and, if satisfactory, approval.
Section 8. 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.
2 The herein authorization is further subject to compliance with all legal requirements that may be imposed,
including but not limited to those prescribed by applicable State law, City Charter and City Code provisions, as
adopted by the SEOPW CRA.
City of Miami Page 3 of 4 File ID: 18207 (Revision:) Printed on: 10/7/2025
File ID: 18207 Enactment Number: CRA-R-25-0052
Section 9. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND LEGAL SUFFICIENCY:
e Br ounsel
9/18/2025
City of Miami Page 4 of 4 File ID: 18207 (Revision:) Printed on: 10/7/2025