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HomeMy WebLinkAboutSEOPW OMNI CRA 1996-02-26 OMNI MinutesEll MINUTES OF REGULAR MEETING OF THE OMNI COMMUNITY REDEVELOPMENT AGENCY On the 26th day of February, 1996, the Community Redevelopment Agency (CRA) met at the Miami Arena, VIP Room, 701 Arena Boulevard, Miami, Florida in regular session. The meeting was called to order at 7:30 p.m. by Chairman Miller J. Dawkins with the following members of the Board found to be present: ... ALSO PRESENT: ABSENT: Chairman Miller J. Dawkins Vice Chairman Stephen P. Clark Board Member J.L. Plummer, Jr. Board Member Wifredo Gort Walter J. Foeman, City Clerk Maria J. Argudin, Assistant City Clerk Herbert J. Bailey, Executive Director Robert Friedman, Special Counsel Board Member Joe Carollo ---------------------------------------------------------------------------------------------------------------- 5. (A) DISCUSSION CONCERNING PROPOSED OMNI INTERLOCAL AGREEMENT ADOPTED BY DADE COUNTY COMMISSION. (B) SET MARCH 18,1996, AS DATE FOR NEXT OMNI / CRA MEETING. Chairman Dawkins: OIL. All right. Now we go into... Board Member Plummer: I move that we open the Omni. Chairman Dawkins: Second? Board Member Gort: Second. Chairman Dawkins: So be it. Mr. Bailey. Mr. Herbert Bailey (Executive Director): Mr. Chairman, we have a discussion item regarding the Omni Interlocal Agreement. We thought we would have had it to you in time so you could 20 February 26, 1996 have reviewed it before this meeting. We did get the agreement, as we have worked it out with the County this afternoon, around five -fifteen. There are some members here from the County if you want to hear them. But we have not been able to go through it to be certain that all of the agreements that we said verbally have been included. Chairman Dawkins: Mr. Bailey. Mr. Bailey: Yes, sir. Chairman Dawkins: We will not hear anything that was given to you at five -fifteen, and you have not reviewed it, and passed it to us for our review so that we could question you. This will be tabled until the next meeting, and that's it. Mr. Edward Marquez: Chairman Dawkins, just hear me for one second. I did get it around five o'clock today. Board Member Plummer: Big deal. Chairman Dawkins: We haven't seen it, and we have to vote on it. Vice Chairman Clark: Please get a copy of it to us. Chairman -Dawkins: Yes, sir. OK. Board Member Plummer: Mr. Chairman. Chairman Dawkins: Yes, sir. Board Member Plummer: If I may report, because as you have all designated myself as a member of the Performing Arts, I want to bring to your attention at the last Performing Arts meeting, the County is travelling under somewhat of a misconception. And they are still showing in their projections from the Interlocal Agreement approximately a million -six a year. And I so informed them that they'd better get their numbers correct, because we were looking at six -eighty, as I recall... Vice Chairman Clark: Six hundred and fifty thousand. Board Member Plummer: OY, Well, I informed them that they were way off, and that we did, in fact, even look for the possibility of even further deterioration by virtue of Plaza going condo. One of the things that you... I don't know if it's the CRA that should be apprised, but I'm going to tell you, because you also know other things. The County, at this particular point, has refused to identify a second source of funding. And listen, this has upset a lot of the board members, as well as a lot of members of the public. They did, in fact, at the last meeting, they did put out the y contracts for the architect. They put out the contracts for the contract manager, and some other things, in relation to the Performing Arts. But I just wanted to let you know that of the Interlocal Agreement, that, in fact, I did inform them of the idea that there was a great reduction from the numbers which they showed the members of the Performing Arts Trust. Chairman Dawkins: Well, my fellow members, one of my concerns was brought on by Mr. Bailey's explanation to me that in the Interlocal Agreement, it says - and if I'm in error, please correct me, Mr. Bailey - that the City of Miami would give no less than one point six. Mr. Bailey: One point four -three. 21 February 26, 1996 Chairman Dawkins: One point four -three. Mr. Bailey: But we've changed that. Chairman Dawkins: And we do not have one point three. So we tried... We want... It's going to be changed to say up to one point three, which means if we ever get one point three - four - three - you will get that. Board Member Plummer: Well, there is another problem. Chairman Dawkins: Go ahead, J.L. Board Member Plummer: Let me tell you what they're looking at, OK? You might not pay it today, but if you make more money down the road, they're going to come back and want you to pay up to the one point three of the first year, and the second year, and the third year, and the fourth year. Now, unless they've changed their minds... There's a lot of people out here shaking their heads. Mr. Bailey: Let me explain... Board Member Plummer: OK. ..... Mr. Bailey.._ ... exactly what we've negotiated, which I think is appropriate. Board Member Gort: Yeah. Why don't you do that. Mr. Bailey: We've put in new language that says "no more than one point four -three." We've also put in language that the CRA, for the purposes of doing projects in the Omni, will get one point two in the first years immediately starting. And we've also modified the part in there that talks about the subordination of the bonds. We think we've worked out a solution that will make the same work, but we just haven't been able to review the language yet. We glanced over it, and as soon as we can review the language, we'll get back to you. But we did make some of those corrections. Chairman Dawkins: But once you review the language, it must be thoroughly understood that until this board reviews the language and approves the language and approves the language, we don't have a deal. Mr. Bailey: That is correct. Chairman Dawkins: All right. Mr. Bailey: We will bring it back with the recommendation. Chairman Dawkins: OK, OK, OK. Vice Chairman Clark: That's right. Board Member Plummer: I move we adjourn. Vice Chairman Clark: We talked about it quite a bit at the last meeting. Mr. Edward Marquez: OK. I just want to put something on the record. My name is Ed Marquez. I'm the Finance Director for the County. 22 February 26, 1996 Chairman Dawkins: Mm-hmm. Mr. Marquez: We are currently... I am currently, along with my financial advisors, working on an updated financial plan for the Performing Arts Center. We intend on using no more than one point four -three million dollars ($1.43 million), when available, from the Omni District in future years. Mr. Bailey is correct that over the first three years, the district, itself, is going to get up to one point two million, when available... Board Member Plummer: First. Mr. Marquez: .. first, for its purposes. Now, that's contained in the Interlocal Agreement, and as soon as you all approve it, we'll... Board Member Plummer: Well, let me ask you a question. Mr. Marquez:... we'll bring it back to the County. Board Member Plummer: And I hope you put this one to bed and that I'm wrong. In the first year, if we only give six hundred and eighty thousand dollars ($680,000) - that's all we have - does that mean in later years, you could come back to the first year and demand more? Mr. Marquez: No, sir. Board Member Plummer: In other words, what you give is what you have. Board Member Gort: It's not retroactive. Mr. Marquez: The County will take the risk of any shortfalls on the one point four to the... It's to the extent that you have the increment. Vice Chairman Clark: You heard that, Freddy? Chairman Dawkins: Mm-hmm. Board Member Plummer: That's good. Chairman Dawkins: OK. All righty. Vice Chairman Clark: OK. Board Member Gort: Thank you. Chairman Dawkins: Adjourn? Board Member Plummer: Move to adjourn. Chairman Dawkins: OK. Board Member Plummer: When is our next meeting, what time, and where? Chairman Dawkins: Right now. We have one immediately. Board Member Plummer: No, no, no. Our next CRA. 23 February 26, 1996 W n A` Chairman Dawkins: Oh. When is the next CRA meeting, and is it at the Omni? Mr. Bailey: The third Monday. It's the third Monday in March, and it will be at the Omni. Chairman Dawkins: At the Omni. Board Member Plummer: Can we have it at a restaurant or a lounge or... Chairman Dawkins: Yes, if you pay. If you pay. Mr. Bailey: Well, as soon as our building is ready, Commissioner, we have a nice room that will probably be very comfortable for it. Board Member Plummer: Oh, my God. Chairman Dawkins: J.L. wants to eat. OK? Mr. Bailey: I'm out of this one. Chairman Dawkins: We are adjourned. Board Member Plummer: Adjourned. Mr. Fred Joseph: The location for it will be in the Grand again? Board Member Gort: Yes. Mr. Joseph: In the Omni District. You'd like to have it there? Chairman Dawkins: Yes, sir. Yes, sir. Thank you. Board Member Plummer: You've always done well for us. THERE BEING NO FURTHER BUSINESS TO COME BEFORE THE OMNI COMMUNITY REDEVELOPMENT AGENCY BOARD, THE MEETING WAS ADJOURNED AT 7:40 P.M. ATTEST: Walter J. Foeman CITY CLERK Maria Josephine Argudin ASSISTANT CITY CLERK Miller J. Dawkins Chairman (SEAL) 24 February 26, 1996