$50 Million Apporved For Overtown Re-Development In Miami

Miami, Fla. -

Following heated debates, the Miami city commission voted to approve $50 million in re-development funds to Overtown in a plan drafted by commissioner Michelle Spence-Jones.

The plan to finance the project comes from a loan backed by special property-tax revenues earmarked for Overtown’s redevelopment.

Overtown fell into disarray and has been plagued with crime since I-95 was built right down the center of it. The area was once a middle-class black area of town considered safe and well kept. The re-development plan will include four mix-used structures costing $35 million.

The plan now must be approved by Miami-Dade county commisioners.

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