$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.