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ITEM 6
CITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
To: Chairman Arthur E. Teele, Jr. and Date: February 10, 2003 File:
Members of the CRA Board
Subject: OMNI TIF
From:K: of ason References:
CRA Executive Director
Enclosures: Documentation
SUBJECT: Notice of Intent of the CRA to remit OMNI TIF to Miami -Dade County
for the purpose of the Performing Arts Bond Issue
This memorandum serves to notify you that the Agency intends to remit the maximum required
by Interlocal Agreement between the Omni CRA and Miami -Dade County dated June 24, 1996, of
$1.43 million of Omni TIF proceeds to the Performing Arts Center for the purpose of paying debt
service. Below is the specific language from the Agreement indicating our liability:
Excerpt from Section C (1) "PROJECT Financing"
"..... In furtherance of such expeditious utilization of such funds for the Performing Arts
Center, the CRA shall remit to the COUNTY no later than March 31" each year, beginning
with the first calendar year in which the COUNTY has bonds outstanding as of January I of
such year, where issued for the purpose of financing the cost of construction of the Performing
Arts Center ( "the Performing Arts Center Bonds), up to, but not more than the first one million
four hundred thirty thousand dollars ($1.43 million) of tax increment trust fund revenue for the
purpose of paying debt service on the Performing Arts Center Bonds (the "County Debt
Service Payment"), provided those funds are available in the Fund. The::;;CRA'._s obligation:=to
pay'ihe $143 nu ton each year shall cease at such tune the COUNTY has no Perforrreang Arts
Center Bonds o'utstctndtrig. If the COUNTY shall sell bonds or incur indebtedness with regard
to the Performing Art Center, the COUNTY shall ensure that all documentation relating to
such indebtedness or bonds shall limit the liability of the CRA to such $1.43 million per year,
subject to availability of funds, and the COUNTY indemnify and hold the CRA harmless for
any liability in excess of the $1.43 million per year as originally committed."
If you require a copy of the entire agreement I will be happy to provide you with a copy. I have also
attached the history of Omni tax roll information as well as copies of the check submitted on December
24, 2002 by Miami Dade County in the amount of $1,344,104 for its portion of the Omni tax increment.
OMNI/CRA
03- 10
ITEM 6
RESOLUTION NO.
A RESOLUTION OF BOARD OF DIRECTORS OF THE OMNI
COMMUNITY REDEVELOPMENT AGENCY (CRA) AUTHORIZING THE
EXECUTIVE DIRECTOR TO REMIT UP TO BUT NO GREATER THAN
$1,430,000 FROM THE TAX INCREMENT TRUST FUND OF THE OMNI
CRA FOR THE PURPOSE OF PAYING DEBT SERVICE ON THE
PERFORMING ARTS CENTER BONDS.
WHEREAS, pursuant to the Interlocal Cooperative Agreement between the City of Miami and
Miami Dade County dated June 24, 1996; and
WHEREAS, in keeping with the obligation of remitting up to but no more that $1,430,000.00 by
March 31 st of each year until County has no Performing Arts Bonds outstanding.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE OMNI
COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are
incorporated herein as if fully.set forth in this Section.
Section 2. The Board of Directors the authorizes the Executive Director to remit up to but no
greater than $1,430,000 from the Tax Increment Trust Fund of the Omni CRA for the purpose of paying
debt service of the Performing Arts Center bonds.
Section 3. This Resolution shall be effective upon its adoption.
PASSED AND ADOPTED this 24th day of February 2003
ATTEST:
PRISCILLA A. THOMPSON,
CLERK OF THE BOARD
APPROVED AS TO FORM
AND CORRECTNESS:
ALEJANDRO VILARELLO,
CRA GENERAL COUNSEL
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ARTHUR E. TEELE, JR. CHAIRMAN
®Ie/ u/CRA
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:)Gr-«-ao i uc ; u • i D iin UKH h HX NU. 6USJ Q4b4b N. 02/ 19
YNTERLOC.IL COOPERATION AGREEMENT
THIS AGREEMENT, made this day of "S�
1996, by and
between Metropolitan Dade County, a political subdivision of the State of Florida, ( the
"COUNTY"), the City of Miami, a municipal corporation of the State of Florida, and the
Community Redevelopment Agency for the Omni Redevelopment Area (the: "Cp kn),
WITNESSETH
WHEREAS, by Resolution Nu, R-82547 and Ordinance No. 87-47 the COUNTY has
approved a Redevelopment Plan, .as may be amended from time to time (the "Plan"), and a Tax
Increment Fund (the "Fund") for the Omni Redevelopment Area (hereinafter referred to as the
"PROJECT"); and
WHEREAS; the PROJECT will take place within the corporate limits of the City of
Miami, Florida (the "CITY"); and
wlEEREA 5,. pursuant to Ordinance No. 87-47 and in accordance with the provisions of
Sections 163.357 and 163.410, Florida Statutes, the COUNTY designated the City Conunission
of the CITY the CRA for the Omni Redevelopment Area and said City Commission as the rRA
hereby intends to enter into this Agreement with the C or.JNTY; and
WiIEREAS, the COUNTY intends to construct a Peirerming Arts Center which will
be
located within the boundaries of the Omni Redevelopment Area and will be part of the PROJECT;
and
WHEREAS, the COUNTy has approved the public portion of the financing of the
Performing Arts Center, which public financing will utilize, in part, tax increment revenues from
the PROJECT, and
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4• The CRA may convey CRA-acquired land and to a developer for fair value for
use in accordance with the Plan and shall deposit the proceeds from the sale or lease in the Fund
to be utilized in accordance with the PROJECT budget and C_'hapter 163, Florida Statutcs.
R Other PROJECT Activitics
i• With regard to any CRA, redevelopment activity unrelated to the
Performing Arts Center, the CRA shall be responsible for the administration and funding for all
relocation activities. The CRA may contract with COUNTY agencies to assist in residential
relocation.
Z. With regard to any CRA rcdevelopment aud%ity unrelated to the
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PCrfomurig Arts Center, the CR.A shall design and construct public improvements necessary to
support the redevelopment of the PROJECT. The CRA shall determine and ensure that such
activities comply with appropriate federal, state, and local regulations relating to affirmative
action and race -conscious concerns.
3. A 11 redevelopment activities conductcd under the tet ins of this Agreement
shall be in accordance with the Plan. Any amendments to the Plan must have the prior approval
of the Board of County Commissioners of the COUNTY.
C. PROJECT Financing
1 The CRA shall administer and manage the Fund as required by law and
develop and promulgate rules, regulations and criteria whereby the Fund may be promptly and
effectively administered, including the establisliuirnt and the maintenance of books and records
Arid adoption of procedures whereby the COUNTY may, expeditiously and without undue delay,
utilize such funds in accordance with the COUNTY approved budget for the Performing Arts
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Center, and whereby the CRA may, expeditiously and without undue
delay, utilize the funds,
other than those dedicated to the Performing arts Center, in accordance with the
COUTNTY=approved budget for those aspects of the PR01EC T not related to the Porforrnin
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Cemer. In furtherance of such expeditious utilization of such funds for the Performing Arts
Center, the CRA shall t e<r�t to the COUNTY no later than March 31 st each year, beginning with
the first calendar year in which the COUNTY has bonds outstanding as of January 1 of such year,
,
which were issued for the purpose of financing the cost of construction of the Performing Arts
Center (the "Performing Arts Center Bonds"), up to, but not more than the first one million four
hundred thirty thousand dollars ($1,43 million) of tax incrcrnent trust. furxi revenue for the
purpose of paying dcbt service on the Perfomung Arts Center Bonds (the "County Debt Service
Payment"), provided such funds are available in the Fund. The CRA's obligation to pay the S 1.43
million each year shall cease at such time that the COUNTY has no Performing Arts Center
Bonds outstanding. If the COUNTY sells bonds or incurs indebtedness with regard to the
Performing Arts Center, the COT INTY shall ensure that all docnmcntation relating to such
indebtedness or bonds shall limit the liability of the CRA to such $1.43 million per year, subject to
availability of such funds, and the COUNTy wdI indemnify and hold the CRA harmless for any
liability in excess of the $1.43 °inillion per year as originally committed,
Over a three year period of time commencing the year this Agreement is executed a total
of one trillion ttiyq hundred thousand dollars ($1.2 million) of tax increment funds sW be
contributed by the CITY and COUNTY for redcvelopmeni Purposes pursuant to the Plan, other
than far L11c Performing Arts Center, provided such funds are available in the Fund. Any
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• tax -increment funds collected in excess of the $1.2 million shall be r enutted to the County for the
Performing Arts Center Project. {
The CRA shall be annually compensated for all administrative services rendered with }
respect to any and all aspects of the PROJECT and the Fund subject to the availability of revenue
in the Fund. Such administrative expenses payable out of the Fund shall be capped at an amount
not to exceed twenty percent (200,lo) of the annual budget approved by the COUNTY.
2. Upon receipt of a written report from the COT-rN-TY detailing the proposed
annual expenditures for activities associated with the P
erfarrung Arts Center, the CRA shall
prepare and submit for COUNTY approval at the beginning of each COUNTY fiscal year an
annual budget in a format approved by the COUNTY for all aspects of the PROJECT and Fund
including the Performing Arts Center Bonds as outlined in paragraph C.1. and any other debt
obligations. Failure by the COUNTY to approve the budget shall have no impact on the County
Debt Service Payment,
3. The CRA and County Manager shall dctcrrnine that any hiring relative to t
the implemcntatiou oi' the Plan complies with appropriate COUINTTY and CITY regulations
.relating to affirmative action and race -conscious concems.
4. The COUNTY shall issue all bonds secured by tax increment revenues
until the earlier of (i) five years or (i) the issuance of bonds or the incurring of debt by the
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COUNTY for the Performing Arts Center in an amount not Icss than. eleven million nine hundred
eight thousand dollars (S 11.908 ruilliun). Thereafter. the CRA may issue bonds required to
finance the PROJEC'T,_with the exception of the Performing Arts Center Bonds, subordinate to f
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any debt incurred by the COUNTY for the Performing Arts Center. The subordination of bonds
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issued by the CRA referred to in the preceding sentence shall relate only to the first S 1.43
million
of tax increment revenues reserved for the County pursuant to the provisions of IIC l . shove.
Prior to. issuance, the COUNTY shall review and approve all CRA instruments of indebtedness
relating to tax increment financing. The CPA shall not withhold the County Debt Service
Payment foe any reason notwithstanding any other activities, actions, claims, or causes of action
related to the PROJECT.
D. Citizen Participation
l • To carry out the citizen participation process, the CPA sha]1 utilize the #
HUD Advisory Board and a community advisory board to be established by the CRP, (collectively
the " itiz u Advisory Groups") for community involvement and coordinate CRA and CQUNI'Y
community involvement and consider citizen input in the redevelopment of PROTECT activities.
E. Project Management, Administration, and Coordination
1. The COUNTY shall:
a. Provide the CPA with a Plan of Action Willi resp= to those
aspects of the PRQTL•CT related to the Performing Arts Center. This provision shall not be
deemed to rewire the approval of the CRA with respect to any aspects of such PIan of Action.
b• Develop an implementation schedule for all PROJECT activities
related to the Performing Arts Center. -
C. Monitor such implementation schedules and timetables.
d. Subnut aruival progress reports to the CRA Project Coordinator
and the Citizen Advisory Crroups beginning one year from the execution of this agreement.
r
e. Submit additional interim reports upon the request of the CRA
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2. The CRA shall:
a. Provide the COUNTY with a plan of Action with respect to those
aspects of the PROJECT not related to the Performing Arts Center. This provision shall not be
deemed to require the approval of the COUNTY with respect to an aspect of Stich plan of
Action.
b. Develop implementation schedules for all PROJECT activities not
related to the Performing Arts Center,
C. Monitor such implementation schedules and timetables.
d• Submit annual progi rss reports to the Cct4 Y Project Coordinator
and the Citizen Advisory Croups beginning one year from the execution of this Agreement,
e• Submit additional interim reports upon the request of the
COUNTY,
III. ASSURANCES
A. As part of this sgreement the COUNTY shall fullow applicable federal and'
COUNTY,r9ulations concerning affirmative action and race -conscious concerns in the hiring of
all consultants.
B. As part of this Agreement the CRA shall follow applicable federal and COUNTY
and CITY regulations concerning affirmative action and race -conscious concerns in the hiring of
all consultants.
C. All powers not Vmilically delegated to the CKA to this Agreement shall be
reserved exclusively to the Board of County Commissioners of the COUNTY. Specifically, the
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l� following community redevelopment powers shall continue to ve
st in the Board of Cnrmty
Commissioners:
(a) The power to determine an area to be a slum or blighted area, or
combination thereof; to designate such area as appropriate for community redevelopment; and to
hold any public hearings required with respect thereto.
(b) The power to grant final approval to the community redevelopment plan
And modifications thereof.
(c)
The power to authorize issuance of rev.enue.buiidy as set forth in Section
163.395, Florida Statutes.
0 rV. ENTIRE AGREEMENT
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This instrument and its attachment4, if any, constitute the sole and only AS rttmernt of the
parties hereto and correctly sets forth the rights, duties, and obligations of each to the other as of
its date. Any prior agreements, promises, negotiations, or representations not expressly set forth
in this Agreement are of no force or effect.
V. AM&NDNENTS
No amendments to this Agreement shall be binding on either parry unless in writing -and
signed by both parties.
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IN WITNESS WHEREOF, the parties hereto have causes! this ABrecmcnt to
in their names by their duly authorized Officers and the co be exrCUted
rporate seals to be affixed hereto, all of
the day -and year first above -written.
COMMLNITY REDEVELOPMENT
ACIENC'Y for the REDEVE OpMEN.
DISTRICT
&er aJDainLs-J------
Chairman of the Board
WITNESSES:
Walter Foemart, City Clerk
APPROVED AS TO FORM AND
LEGAL SrTFFICIENCY:
' d,AA1
Holland & Knight
CRA Counsel
.r.��vxrsRt,q,.s�na
240
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�VMTROPOLITAN DADE COUNTY, a
political subdivision of the State of Florida
4man� Vi p.
ountyManager
APPROVED AS TO FORM AND
LEGAL SUFFICIENCY:
Ttabert A. Ginsburg
County Attorney
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CITY OF MIAMf a municipal
corporation of tate of Florida
Cesar H. Odio
City Manager
WITNESSES:
1On
APPROVED AS TO FORM AND
LEGAL SUFFICIENCY:
v
A- in oni
City Attorney
q lwvr-",Lx4u
.
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