HomeMy WebLinkAboutCRA-R-25-0052 MemorandumSEOPW Board of Commissioners Meeting
September 25, 2025
SOUTHEAST OVERTOWN/PARK WEST
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Christine King Date: September 25, 2025
and Members of the CRA
Board File: 18207
From: James McQueen
Executive Director
Subject: Authorize Affordable Housing
Development Agreement and
Disposition of Property: Coral Rock
St. Agnes
Enclosures: File # 18207 - Exhibit A
File # 18207 - Backup
File # 18207 - Backup
BACKGROUND:
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"), further 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, for the Purpose stated herein.
On November, 21, 2024, by Resolution CRA-R-24-0074, the SEOPW CRA Board accepted the selection
committee's recommendation to select Developer, as the top ranked response to RFP No. 24-01 (N.W.
12th Street Affordable Housing Development).
Thereafter, the Executive Director entered into negotiations with Developer in order to execute a
Development Agreement ("Agreement"), between the SEOPW CRA and Developer, in substantially the
form attached as Exhibit "A," with respect to the Property and the plans for redevelopment. The
Agreement provides for the disposition of the Property to Developer in furtherance of the Northwest 12th
Street Affordable Housing Development Project and in compliance with the RFP requirements.
It is recommended that the Board of the SEOPW CRA approve and adopt the attached Resolution,
including the disposition of Property, for the Purpose stated herein.
BACKGROUND:
Pursuant to Chapter 163, Florida Statutes, the Southeast Overtown/Park West Community
Redevelopment Agency ("SEOPW CRA") is responsible for carrying out community redevelopment
activities and projects within its redevelopment area ("Redevelopment Area") in accordance with the
2018 Updated Southeast Overtown/Park West Redevelopment Plan (the "Plan").
Pursuant to Section 163.380, Florida Statutes, the SEOPW CRA is authorized to "dispose of, or otherwise
transfer [acquired] property [within the Redevelopment Area] or any interest therein ... to any private
person
Section 2, Goal 2, of the Plan lists "expand[ing] the tax base using public -private principles" and
"creat[ing] viable commercial corridors ... through Public -Private Partnerships," as a stated
redevelopment goal.
Section 2, Goal 3, of the Plan lists "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.
Section 2, Goal 6, of the Plan lists "[i]mproving the [q]uality of [1]ife for residents [and] creating housing
...," as a stated redevelopment goal.
Section 2, Principle 2, of the Plan provides that the "neighborhood ... retain access to affordable
housing," as a stated redevelopment principle.
Lastly, Section 2, Principle 3 of the Plan provides that there "must be variety in housing
options," as a stated redevelopment principle.
FUNDING:
N/A.
FACT SHEET:
Entity name: Coral Rock St. Agnes Partners, LLC.
Project Address:
Parcel #
Address
Folio #
1
1141 N.W. 3rd Avenue
01-3136-037-0540
2
242 N.W. 12th Street
01-3136-037-0520
3
234 N.W. 12th Street
01-3136-037-0510
4
224 N.W. 12th Street
01-3136-037-0500
Scope of work or services (Summary): Authorize execution of the Development Agreement and
disposition of SEOPW property for the purpose of affordable housing development.
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AGENDA ITEM
FINANCIAL INFORMATION FORM
SEOPW CRA
CRA Board Meeting Date: September 25, 2025
CRA Section:
Approved by:
Approval:
Executive Director 9/18/2025
Miguel A Valcntin, Tiance Off;cer 9/18/2025
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Southeast Overtown/Park West
Community Redevelopment Agency
File Type: CRA Resolution
Enactment Number: CRA-R-25-0052
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
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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
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 3rd 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
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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
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.
1 Pursuant to CRA-R-25-0014 and R-25-0135.
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.
Page 6 of 7
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.
Section 9. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND LEGAL SUFFICIENCY:
4
e Br aunsel 9/18/2025
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