HomeMy WebLinkAboutOMNI CRA 2021-10-28 AgendaCity of Miami
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
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Omni
C R A
Meeting Agenda
Thursday, October 28, 2021
12:00 PM
(OR THEREAFTER)
City Hall
3500 Pan American Drive
Miami, FL 33133
OMNI Community Redevelopment Agency
Ken Russell, Chair, District Two
Joe Carollo, Vice Chair, District Three
Alex Diaz de la Portilla, Board Member, District, One
Manolo Reyes, Board Member, District Four
Jeffrey Watson, Board Member, District Five
OMNI CRA OFFICE ADDRESS:
1401 N. Miami Avenue, 2nd Floor, Miami 33136
Phone: (305) 679-6868
www.miamicra.com
OMNI Community Redevelopment Agency Meeting Agenda October 28, 2021
CALL TO ORDER
OMNI CRA RESOLUTION(S)
1. OMNI CRA RESOLUTION
10631 A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE OMNI
REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY
("CRA"), BY A FOUR -FIFTHS (4/5THS) AFFIRMATIVE VOTE, AFTER AN
ADVERTISED PUBLIC HEARING, RATIFYING, APPROVING, AND
CONFIRMING THE EXECUTIVE DIRECTOR'S RECOMMENDATION AND
FINDING THAT COMPETITIVE NEGOTIATION METHODS AND
PROCEDURES ARE NOT PRACTICABLE OR ADVANTAGEOUS
PURSUANT TO SECTIONS 18-85 AND 18-86 OF THE CODE OF THE CITY
OF MIAMI, FLORIDA, AS AMENDED, AS ADOPTED BY THE CRA; WAIVING
THE REQUIREMENTS FOR COMPETITIVE SEALED BIDDING AS NOT
BEING PRACTICABLE OR ADVANTAGEOUS TO THE CRA; AUTHORIZING
THE EXECUTIVE DIRECTOR TO NEGOTIATE AND EXECUTE AN
AGREEMENT WITH SUPPORTING DOCUMENTS, IN A FORM
ACCEPTABLE TO THE GENERAL COUNSEL, ALLOCATING GRANT
FUNDS OF $15,000,000.00 FOR A MIXED -USE DEVELOPMENT PROJECT
OF PROPERTIES LOCATED AT 1441, 1445, AND 1455 NORTH MIAMI
AVENUE, 25 AND 31 NORTHEAST 14TH STREET, AND 1412, 1418, 1428,
AND 1432 NORTHEAST MIAMI COURT, MIAMI, FLORIDA WITHIN THE
CRA'S REDEVELOPMENT AREA TO 14TH STREET DEVELOPMENT LLC,
SUBJECT TO THE CRA BEING ABLE TO SUCCESSFULLY SECURE
FINANCING AND SUBJECT TO THE AVAILABILITY OF FUNDS.
2. OMNI CRA RESOLUTION
10633 A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE OMNI
REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY
("CRA") AUTHORIZING THE CRA TO REBATE TO 14TH STREET
DEVELOPMENT LLC ("GRANTEE") THE TAX INCREMENT FINANCE ("TIF")
REVENUES GENERATED ONLY FROM THE DEVELOPMENT BY THE
GRANTEE OF THE 14TH STREET APARTMENT PROJECT ("PROJECT") IN
AN AMOUNT NOT TO EXCEED 95% OF THE AVAILABLE DEVELOPMENT
TIF COLLECTED FROM THE PROJECT ANNUALLY OR $816,731.00
ANNUALLY, WHICHEVER IS LESS, PER YEAR UNTIL 2047 IF THE LIFE OF
THE CRA IS EXTENDED TO 2047, FOR A TOTAL AMOUNT NOT TO
EXCEED $13,600,000.00, WITH PAYMENTS TO BEGIN UPON
SUBSTANTIAL COMPLETION AND THE PROJECT RECEIVING A
CERTIFICATE OF OCCUPANCY, SUBJECT TO THE RENTS BEING
RESTRICTED UNTIL 2047 IF THE LIFE OF THE CRA IS EXTENDED TO
2047; FURTHER AUTHORIZING THE EXECUTIVE DIRECTOR TO
NEGOTIATE AND EXECUTE ANY AND ALL DOCUMENTS NECESSARY
FOR SAID PURPOSE, ALL IN FORMS ACCEPTABLE TO GENERAL
COUNSEL.
ADJOURNMENT
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