HomeMy WebLinkAboutCRA-R-26-0001Southeast Overtown/Park West
Community Redevelopment Agency
Legislation
CRA Resolution: CRA-R-26-0001
819 NW 2nd Ave
3rd Floor
Miami, FL 33136
www.seopwcra.com
File Number: 18806 Final Action Date:1/22/2026
A RESOLUTION OF THE BOARD OF COMMISSIONERS ("BOARD") OF THE
SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT
AGENCY ("SEOPW CRA"), SELECTING KREA USA, LLC, A FLORIDA LIMITED
LIABILITY COMPANY ("PROPOSER"), AS THE SOLE PROPOSER IN
RESPONSE TO A REQUEST FOR PROPOSALS ("RFP") NO. 25-09, FOR THE
DISPOSAL OF FIVE (5) PARCELS OF PROPERTY IN FURTHERANCE OF AN
AFFORDABLE HOMEOWNERSHIP HOUSING DEVELOPMENT PROJECT,
INCLUDING 714 NORTHWEST 4TH AVENUE, 720 NORTHWEST 4TH AVENUE,
728 NORTHWEST 4TH AVENUE, 734 NORTHWEST 4TH AVENUE, AND 402
NORTHWEST 8TH STREET, MIAMI, FL 33136, CONTAINING AN
APPROXIMATE TOTAL LOT AREA OF 21,000 SQUARE FEET ("PROPERTY");
AUTHORIZING THE EXECUTIVE DIRECTOR TO NEGOTIATE A
DEVELOPMENT AGREEMENT ("AGREEMENT") WITH THE PROPOSER;
DIRECTING THE EXECUTIVE DIRECTOR TO PRESENT ANY PROPOSED
AGREEMENT TO THE BOARD FOR ITS CONSIDERATION AND, IF
SATISFACTORY, APPROVAL AND AWARD; CLARIFYING THAT THIS
RESOLUTION IS NOT INTENDED TO BE AN AWARD OF DEVELOPMENT
RIGHTS OR OTHERWISE CREATE ANY RIGHTS WHATSOEVER TO THE
PROPOSER REFERENCED HEREIN.
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 163.380 (3)(a), Florida Statutes, authorizes the SEOPW CRA to "sell, lease,
dispose of, or otherwise transfer real property or any interest therein" acquired within the Redevelopment
Area "to any private person ... and [to] enter into contracts with respect thereto for [uses]," in accordance
with the Plan, "subject to such covenants, conditions, and restrictions, including covenants running with
the land" and approval of the SEOPW CRA Board of Commissioners (the "Board"); 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
City of Miami Page 1 of 3 File ID: 18806 (Revision:) Printed On: 1/29/2026
File ID: 18806 Enactment Number: CRA-R-26-0001
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 currently owns five (5) parcels of land, totaling approximately
21,000 square feet in the aggregate, located at 402 Northwest 8th Street (Folio No. 01-0104-080-1010);
734 Northwest 4th Avenue (Folio No. 01-3137-028-0010); 728 Northwest 4th Avenue (Folio No. 01-3137-
028-0020); 720 Northwest 4th Avenue (Folio No. 01-3137-028-0030); and 714 Northwest 4th Avenue
(Folio No. 01-3137-028-0040), Miami, Florida 33136 (the "Property"); and
WHEREAS, on October 22, 2025, the SEOPW CRA issued a Request for Proposals ("RFP") No.
25-09 with the intent to dispose of and redevelop the Property for an affordable homeownership
development project ("Project"); and
WHEREAS, on November 25, 2025, a sole response was submitted by KREA USA, LLC, a
Florida Limited Liability Company ("Proposer"); and
WHEREAS, upon review, the Proposer's sole response aligns with the intent of RFP No. 25-09,
meets the minimum requirements, and is consistent with the Plan; and
WHEREAS, the Executive Director wishes to negotiate terms with the Proposer and present a
proposed development agreement in furtherance the Project to the Board for its consideration, and, if
satisfactory, approval and award ("Purpose"); and
WHEREAS, the Board wishes to accept the Proposer's sole response to RFP No. 25-09 and
authorize the Executive Director to negotiate terms with the Proposer for the Purpose stated herein; and
WHEREAS, the Board wishes to clarify that this Resolution is not intended to be an award of
development rights or otherwise create any rights whatsoever to the Proposer referenced herein; and
WHEREAS, the Board finds that authorizing this Resolution would further the SEOPW CRA's
redevelopment goals and objectives; and
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 of Commissioners hereby accepts the Proposer as the sole response to
RFP No. 25-09, and authorizes the Executive Director to negotiate a development agreement with the
Proposer.
Section 3. The Board of Commissioners hereby directs the Executive Director to present
any proposed development agreement to the Board for its consideration and, if satisfactory, approval and
award.
City of Miami Page 2 of 3 File ID: 18806 (Revision:) Printed on: 1/29/2026
File ID: 18806 Enactment Number: CRA-R-26-0001
Section 4. This Resolution is not intended to be an award of development rights or
otherwise create any rights whatsoever to the Proposer referenced herein.
Section 5. The Executive Director is authorized' to negotiate and execute any and all
documents necessary, for which terms may be amended by the Executive Director, 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:
e Br ounsel
1/15/2026
1 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 3 File ID: 18806 (Revision:) Printed on: 1/29/2026