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OMNI CRA Resolution: CRA-R-22-0018
File Number: 11954
OMNI CRA
1401 N. Miami Avenue
Miami, FL 33136
www.miamicra.com
Final Action Date:5/12/2022
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE OMNI
REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY
("CRA") AUTHORIZING THE EXECUTIVE DIRECTOR TO EXECUTE A FIRST
AMENDMENT TO THE AGREEMENT FOR THE DEVELOPMENT OF
PROPERTY WITH WYNWOOD WORKS, LLC DATED NOVEMBER 24, 2020
("AGREEMENT") TO PROVIDE FOR AN EXTENSION OF THE FINANCING
COMMITMENT AND CLOSING DATES, IN A FORM ACCEPTABLE TO THE
GENERAL COUNSEL; FURTHER AUTHORIZING THE EXECUTIVE DIRECTOR
TO NEGOTIATE AND EXECUTE ANY AND ALL OTHER NECESSARY
DOCUMENTS, ALL IN ACCORDANCE WITH THE TERMS AND CONDITIONS
OF THE AGREEMENT.
WHEREAS, on September 24, 2020, the Omni Redevelopment District Community
Redevelopment Agency ("CRA") as part of its efforts to beautify the OMNI Community
Redevelopment District approved OMNI CRA Resolution CRA-R-20-0013, which authorized the
execution of a Development Agreement (the "Agreement") with Magellan Housing, LLC, now
known as Wynwood Works, LLC (the "Developer") for the development of the property legally
described as Plat Book "B" Page 107, with addresses of 2035, 2037, and 2043 North Miami
Avenue, Miami, Florida (the "Properties"); and
WHEREAS, as provided in the Agreement, the Developer was to obtain financing
commitments within 18 months of the effective date of the Agreement, and close on the
acquisition of the Properties no later than 21 months after the effective date of the Agreement;
and
WHEREAS, due to circumstances beyond either the CRA's or the Developer's control,
the Developer has been unable to obtain all of its financing commitments within the time
specified, and as a result will not be able to close within the time specified in the Agreement;
and
WHEREAS, the CRA and the Developer desire to extend the Agreement by entering into
the First Amendment to the Agreement in order to provide the Developer with the additional time
necessary to obtain the financing commitments and close on the acquisition of the Properties;
and
WHEREAS, the CRA Board finds that the approval of this Resolution is consistent with
the requirements of Chapter 163, Part III, Florida Statutes, the provisions of the Omni
Redevelopment District Community Redevelopment Plan, is in the best interest of the residents
and businesses within the CRA's boundaries, and serves a municipal and public purpose.
City of Miami Page 1 of 2 File ID: 11954 (Revision:) Printed On: 5/16/2022
File ID: 11954
Enactment Number: CRA-R-22-0018
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY:
Section 1. The recitals and findings contained in the Preamble to this Resolution are
hereby adopted by reference thereto and incorporated herein as if fully set forth in this Section.
Section 2. The Executive Director is authorized to negotiate and execute a First
Amendment to the Agreement with Wynwood Works, LLC ("Agreement"), in a form acceptable
to the General Counsel.
Section 3. The Executive Director is further authorized to negotiate and execute any and
all necessary documents, including any amendments and modifications to said Agreement, all in
forms acceptable to the General Counsel, as may be necessary to effectuate the intent of this
Resolution.
Section 4. This Resolution shall become effective immediately upon its
adoption.
APPROVED AS TO FORM AND CORRECTNESS:
1
ji- 4&ndez, City),ttor iey 5/11/2022
City of Miami Page 2 of 2 File ID: 11954 (Revision:) Printed on: 5/16/2022