HomeMy WebLinkAboutSEOPW-CRA-R-01-00050 ITEM 11
RESOLUTION NO. 0 1 - 05
A RESOLUTION OF THE OMNI COMMUNITY
REDEVELOPMENT AGENCY (CRA) AUTHORIZING THE
CITY OF MIAMI (THE "CITY"), ACTING AS THE
FIDUCIARY OF THE OMNI REDEVELOPMENT TRUST
FUND, TO TRANSFER YEAR 2000 ANNUAL CRA TAX
INCREMENT REVENUES TO MIAMI-DADE COUNTY FOR
PAYMENT TOWARDS THE PERFORMING ARTS CENTER
PROJECT.
WHEREAS, the OMNI CRA was created, under the Florida
Redevelopment Act, and pursuant to the terms and condition of the
Omni CRA County Interlocal Agreement entered into between the City
and the County, dated June 24, 1996, as amended; and
WHEREAS, A series of bonds were sold by County to fund the
developing of the Performing Arts Center project of the OMNI
Redevelopment Plan that requires the use of OMNI tax increment
revenues for payment of the bond debt service; and
WHEREAS, The City of Miami Finance Department, pursuant to
City/CRA Interlocal Agreement acts as the fiduciary of the CRA
redevelopment trust fund for implementing the CRA redevelopment
plan.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
OMNI COMMUNITY REDEVELOPMENT AGENCY CREATED BY THE CITY OF MIAMI,
FLORIDA:
Section 1. The recitals and findings contained in the
Preamble of the Resolution are incorporation as if fully set
forth in this Section.
Section 2. The City of Miami, as the fiduciary of the
Omni CRA Redevelopment Trust Fund, is authorized to transfer the
OMNI CRA year 2000 tax increment revenues deposited in the CRA
redevelopment trust fund to Miami -Dade County for payment of the
debt service of the County revenue bond issue for development of
the Performance Arts Center.
Section 3. This resolution of the Board of Directors
applies to all future transfers of tax increment revenues since
the transfer is an annual contract responsibility of the City
Finance Department as set forth in the County/Omni Interlocal
Agreement dated June 24, 1996 and therefore the mandatory
transfer does not require an annual approval of the Board of
Directors.
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iITEM 11
Section 4. The resolution shall be effective upon its
adoption.
PASSED AND ADOPTED this 26 day of February 2001.
Arth r E. Teele, Jr., Chairperson
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T.
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FROM
LA
Chairman Teele and
Members of the CRA Board
Dipak M. Parekh
Executive Director
RECOMMENDATION
CITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
DATE: February 20, 2001
FILE :
SUBJECT:
Grant Agreement with the Technology
Center of the Americas
REFERENCES:
ENCLOSURES: Attached Exhibit A
It is respectfully requested that its Executive Director be authorized to enter into a grant agreement, not
exceeding $375,000, with Technology Center of the Americans contingent on the business terms listed in
Exhibit A for the temporarily use of existing real property of the SEO/PW CRA for parking of vehicles by
the employees building the Technology Center.
BACKGROUND
The Board of Directors of the SEO/PW CRA has approved a total grant of $750,000 to assist in
financing of the Technology Center of the Americas project (the "Project") being located in the
Park West Subsection of the CRA redevelopment area. A sub -grant of $375,000 has been
authorized and executed by the CRA for public infrastructure improvement related to the Project
and the financing of various project building permits required of the City of Miami.
The Executive Director by the attached Resolution is requesting permission to enter into the final
sub -grant of $375,000 with the Project Developer of the Technology Center of the Americas in
® accordance with Exhibit A, attached to the Resolution.
SEOPW/CRA
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The Developer of the Technology Center of the Americas shall be required to pay all Florida Sales
Taxes in the annual amount of $24,375.00 and Miami Parking Surcharge Fees in the amount of
$75,000.
Funding Source: N/A
Account Number: N/A
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