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RESOLUTION APPROVING OF AND AUTHORIZING THE COUNTY MAYOR OR COUNTY MAYOR�S DESIGNEE TO EXECUTE A SECOND AMENDMENT TO THE GRANT AGREEMENT BETWEEN MIAMI-DADE COUNTY AND 1109 NW 2ND AVE LLC, A FLORIDA LIMITED LIABILITY COMPANY (�COMPANY�), WHICH SUCH AMENDMENT INCREASES THE AMOUNT OF THE GRANT FROM $8,600,000.00 TO $12,957,876.00, FOR THE PURPOSE OF FUNDING THE COMPANY�S ACQUISITION AND DEVELOPMENT OF PROPERTIES IN THE OVERTOWN AREA WITH AFFORDABLE HOUSING AND COMMERCIAL DEVELOPMENT, AND TO EXERCISE ALL PROVISIONS CONTAINED THEREIN, INCLUDING CANCELLATION, TERMINATION AND AMENDMENT PROVISIONS; AND AUTHORIZING THE COUNTY MAYOR OR COUNTY MAYOR�S DESIGNEE TO ALLOCATE AND DISBURSE TO THE COMPANY THE ADDITIONAL $4,357,876.00 FROM THE FUNDS RECEIVED BY MIAMI-DADE COUNTY PURSUANT TO RESOLUTION NO. R-860-13 FOR PROJECTS LOCATED WITHIN THE OVERTOWN AREA

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WHEREAS, on May 7, 2024, this Board adopted Resolution No. R-418-24, which authorized the County Mayor or County Mayor�s designee to allocate a grant to 1109 NW 2nd Ave LLC, a Florida limited liability company (the �Company�), in an amount not to exceed $4,000,000.00 from the Overtown trust fund, which, pursuant to Resolution No. R-860-13, the County holds funds in such trust fund (�Overtown trust fund�) for the purpose of funding projects that support redevelopment efforts in the Overtown area; and
WHEREAS, the purpose of such grant to the Company was to assist the Company to acquire and develop properties with entertainment facilities that are consistent with the master plan known as the �Historic Overtown Culture & Entertainment District;� and
WHEREAS, pursuant to Resolution No. R-418-24 and the grant agreement, which was executed on August 16, 2024, the County disbursed $4,000,000.00 to the Company; and
WHEREAS, on July 16, 2025, this Board adopted Resolution No. R-790-25, which authorized the First Amendment to the Grant Agreement for the purpose of allocating an additional $4,600,000.00 to the Company and extending the term of the grant agreement until September 30, 2027; and
WHEREAS, the County and the Company desire to amend the grant agreement to allocate an additional $4,357,876.00 from the Overtown Trust Fund, which such amount will allow the Company to acquire and develop properties within the Overtown area with affordable housing and commercial uses,
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF MIAMI-DADE COUNTY, FLORIDA, that:
Section 1. The foregoing recitals are incorporated in this resolution and are approved. Section 2. This Board approves of and authorizes the County Mayor or County Mayor�s designee to execute the Second Amendment to the Grant Agreement between Miami-Dade County and 1109 NW 2nd Ave LLC, a Florida limited liability company (the �Company�), in substantially the form attached hereto as Attachment �A� and incorporated herein by reference, in a total amount of $12,957,876.00, for the purpose of the Company acquiring and developing properties in the Overtown area with affordable housing and commercial uses. This Board further authorizes the County Mayor or County Mayor�s designee to exercise all provisions contained in the grant agreement, as amended, including cancellation, termination and amendment provisions.
Section 3. This Board directs the County Mayor or the County Mayor�s designee to allocate the additional $4,357,876.00 from the Overtown trust fund. Such grant shall be disbursed to the Company as a lump sum payment, and shall be subject to the terms and conditions set forth in the grant agreement executed by the County Mayor or County Mayor�s designee in accordance with section 2 of this resolution.