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Home My WebLink AboutOMNI-CRA-R-03-0024ITEM 10 RESOLUTION OMNI/CRA R- 0 3 - 24 A RESOLUTION OF THE BOARD OF THE OMNI COMMUNITY REDEVELOPMENT AGENCY AUTHORIZING THE EXECUTIVE DIRECTOR TO AMEND THE ASSISTANCE PACKAGE AWARDED TO GILI'S CAFE AND BAKERY VIA OMNI MOTION M-03-13 ON FEBRUARY 24Tx 2003 BY REPLACING THE AWARD FROM THE COMMERCIAL EQUIPMENT LOAN PROGRAM WITH A LOW INTEREST LOAN ELIMINATING THE AWARD FOR IMPACT FEES, AND PROVIDING THAT THE TOTAL IN LOANS TO GILI'S CAFE WILL NOT EXCEED $60,000.00 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. That the CRA Board of Directors of the hereby authorizes the Executive Director to amend the assistance package awarded to Gili's Cafe and Bakery via Omni Motion M-03-13 on February 24'', 2003 by replacing the award from the equipment loan program with a low interest loan, eliminating the award for the impact fees and providing that the total in loans to Gili's Cafe will not exceed $60,000.00 Section 3. This Resolution shall be effective upon its adoption. PASSED AND ADOPTED this 31", day of March, 2003. ,, ARTHUR E. TEELE, JR. CH IRMAN A T: PRISCILLA A. Tf-IOMPSCiN, CLERK OF THE BOARD APPROVED AS TO FORM AND CORRECTNESS: ALEJANDRO VILARELLO, CRA GENERAL COUNSEL NOTE: Expenditure authorized by, this resolution is funded by CRA Omni Tax Increment Trust Fund Account Code No. 686001.590320.6.940 — Other Grants & Aids. (See Attached Financial Information Form) Frank K. Rollason Executive Director Community Redevelopment Agency OMNI/CRA 03- 24 ITEM 10 EXHIBIT "A" GCITY OF MIAMI COMMUNITY REDEVELOPMENT AGENCY LOAN TERMS For - Gili's Cafe and Bakery Borrower: Gili's Cafe and Bakery Project location: Park West sub -area of SEOPW-30 NE NW 14t' Street Board authorization: March 3.1, 2003 by Resolution R-03-13 Loan amount as amended: $60,000.00 Loan type: Forgivable subject to Gili's Cafe and Bakery meeting all loan requirements. Disbursement: Reimbursement basis, upon meeting loan conditions. Interest rate: One year London Inter Bank Offered Rate (LIBOR) as published in the Wall Street Journal on the business day preceding the closing of the loan (interest accruing only in the event the loan is not forgiven). Term: Three (3) years (in the event the loan is not forgiven). Purpose: Construction costs, purchase of equipment, other CRA approved expenses. Collateral: Signature. Gili's Cafe and Bakery's responsibility: 1) Demonstrate the creation of two full-time equivalent jobs filled by persons residing within the SEOPW and/or Omni redevelopment areas for a period of one year. 2) Complete job tracking forms as requested. 3) Execute a promissory note. 4) Allow the CRA to conduct site visits and interview employee(s) hired as a result of the loan. 5) In the event the loan proceeds are used to purchase equipment, the proprietor must: 1) provide a description of equipment purchased; 2) provide equipment serial numbers; 3) provide paid invoice(s) and documentation indicating purchase at no more than market value; and, 4) allow the CRA access to inspect the equipment. 6) Notify the CRA, in writing and obtain written approval, thirty days prior to any changes in ownership or the transfer of major assets during the term of the loan. OMNI/CRA 03- 24 AGENDAIA FINANCIAL INFORMATION FORM CITY OF MIAMI COMMUNITY REDEVELOPMENT AGENCY SEOPW CRA OMNI C (if applicable) CRA Board Meeting Date: March 31, 2003 CRA Section: Finance & Administration Brief description of CRA Agenda Item: Amending assistance package awarded to Gili's Cafe and Bakery via Omni Motion M- 03-13• replacing_ award with low interest loan not to exceed $60,000. (Item 10 on 3/31/03 Agenda). Project Number: 686001 YES, there are sufficient funds in Line Item: Index Code: 590320 Minor: 940 Amount: $60,000 ❑ NO (Complete the following source of funds information): Amount budgeted in the line item: $ Balance in the line item: $ Amount needed in the line item•: $ Sufficient funds will be transferred from the following line items: ACTION ACCOUNT NUMBER TOTAL Project No./Index/Minor Object From $ To $ From $ To $ Comments: Approved by: Date: i °� CRA xecutive Director/Designee ,n %`'�n��'�nn�,-✓�v��' �^�v:i�'^ vw.nn^^wv�i.,.�.�.%• ^��.n,^� i"✓ � ✓v�✓�v.�:vv�.nv Jv.'�✓v�. v�v ✓:�:n :ivy �✓v�'ti��nn�iv�� ^nMi.i.^^^.n APPROVALS Verified Verified CRA Accounting Section A Finance Section ?ac'sa`'°�rTys Date: i° p3 Date: OMN M I • • is Q Cr Miami March 2,2003 To: C.R.A. Att: Mr. Frank Rollason Executive Director Commitment letter Dear Sir, As agreed in our meeting in the C.R.A. on 2/27/03 we are sending you a letter of our policy in hiring the restaurant stuff from the C.R.A. boundai At the moment, Gili's Sandwich Bar is employing -out of a total of five c employees from Overtown and The OrnW- — two Ms. Meliesa Hernandez. 64 NE 17TH. St. Miami 305-3588693 IS.S.N. ....9834 Mr. Gaaren Wiltslurn 34 NW 14TH. St. Miami F133I32 (no phone no.) S.S.N.....5884 In the future, when the Sandwich Bar will be open for more shifts, employ at least two more employees from the C.R.A. boundari The idea of opening the Sandwich Bar in the Onini was to support area, and we will keep doing so in the future. Very truly urs, Gili's S w' ar L.L.0 zl Terem 305-8045793 cc: Ms. A. Luis TEL OMNI/CRA 03- 24 • :7 SEOPW AND OMNI/CRA CITY CLERK'S REPORT MEETING DATE: December 16, 2002 Page No. 5 ITEMS 13 A RESOLUTION OF THE BOARD OF THE OMNI/CRA RESOLUTION 02-97 DIRECTORS OF THE OMNI COMMUNITY (MODIFIED) REDEVELOPMENT AGENCY AUTHORIZING THE MOVED: WINTON EXECUTIVE DIRECTOR TO PROVIDE IN -KIND SECONDED: REGALADO TECHNICAL ASSISTANCE TO SANDWICH BAR ABSENT: SANCHEZ, L.L.0 IN PREPARING AND EXPEDITING AN GONZALEZ APPLICATION TO THE CITY OF MIAMI ZONING AND PUBLIC WORKS DEPARTMENT FOR WAIVER OF THE CITY'S OUTDOOR DRONG REGULATION FOR GILI'S CAFE & BAKERY, LOCATED IN THE OMNI REDEVELOPMENT AREA AT 30 NE 14TH STREET. Modification: Include "appropriate agencies of the city". ITEM 14 A RESOLUTION OF THE BOARD OF THE OMNI/CRA R-02-98 DIRECTORS OF THE OMNI COMMUNITY (MODIFIED) REDEVELOPMENT AGENCY AUTHORIZING THE MOVED: REGALADO EXECUTIVE DIRECTOR TO PROVIDE IN -KIND SECONDED: WINTON ASSISTANCE IN PROMOTING GILI'S CAFE & ABSENT: SANCHEZ, BAKERY AND COORDINATING AN OFFICIAL GONZALEZ GROUND BREAKING CEREMONY WITH CITY OFFICIALS UPON COMPLETION OF THE RENOVATION PROJECT. Modification: Request Executive Director to assign a point person to work with the coordinators of the opening ceremony and address any needs. E OMi i/CRA 03- 24 0 • ITEM 10 CITY OF MIAMI, FLORIDA INTER -OFFICE MEMORANDUM To: Chairman Arthur E. Teele, Jr. and Date: March 18, 2003 File: Members of the CRA Board -- '�� Subject: Gili's Cafe Loan Policy From: 'Fr . Rollason References: CRA Executive Director Enclosures: Resolution, Loan Terms RECOMMENDATION: It is respectfully recommended that the Board of Directors authorize a CRA Loan on the terms presented in Exhibit `A' for Gili's Cafe and Bakery in an amount not to exceed $60,000.00. JUSTIFICATION/BACKGROUND: On February 24t', 2003 the Board approved an assistance package to Gili's Cafe and Bakery which included the following: $47,500 Commercial Equipment Loan Program (CELP) 15,000 Impact fee assistance 10,000 CRA Loan $72,500.00 Total In a meeting with Mr. Terem, the proprietor of Gili's Cafe and Bakery, subsequent to the February 24`h, 2003 award, CRA staff reviewed each component of the award. During this review Mr. Terem, indicated that he required the funds sooner. As an alternative, staff suggested an increase in the business loan and elimination of the Impact Fees Assistance ($15,000.00) and Commercial Equipment Loan Program (CELP) ($47,500). This was satisfactory to Mr. Terem who was told that Board approval was required prior to any disbursements. FUNDING SOURCE: OMNI TAX INCREMENT TRUST FUND ACCOUNT NUMBER: 686001.590320 FKR/em 01NM/CRA 03- 24