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Community Redevelopment Agency
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C R A
OMNI CRA Resolution: CRA-R-21-0037
File Number: 10941
OMNI CRA
1401 N. Miami Avenue
Miami, FL 33136
www.miamicra.com
Final Action Date: 10/22/2021
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE OMNI
REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY
("CRA"), BY A FOUR -FIFTHS (4/5THS) AFFIRMATIVE VOTE, AFTER AN
ADVERTISED PUBLIC HEARING, RATIFYING, APPROVING, AND
CONFIRMING THE EXECUTIVE DIRECTOR'S RECOMMENDATION AND
FINDING, ATTACHED AND INCORPORATED, THAT COMPETITIVE
NEGOTIATION METHODS AND PROCEDURES ARE NOT PRACTICABLE OR
ADVANTAGEOUS PURSUANT TO SECTIONS 18-85 AND 18-86 OF THE CODE
OF THE CITY OF MIAMI, FLORIDA, AS AMENDED, AS ADOPTED BY THE CRA;
WAIVING THE REQUIREMENTS FOR COMPETITIVE SEALED BIDDING AS
NOT BEING PRACTICABLE OR ADVANTAGEOUS TO THE CRA;
AUTHORIZING THE EXECUTIVE DIRECTOR TO NEGOTIATE AND EXECUTE
AN AGREEMENT WITH SUPPORTING DOCUMENTS ALLOCATING GRANT
FUNDS OF $1,300,000.00 FOR A MIXED -USE DEVELOPMENT PROJECT OF
THE PROPERTY AT LOCATED 123 NORTHWEST 14 STREET, MIAMI,
FLORIDA WITHIN THE CRA'S REDEVELOPMENT AREA TO CAPROCK 123,
LLC, IN A FORM ACCEPTABLE TO THE GENERAL COUNSEL AND SUBJECT
TO THE AVAILABILITY OF FUNDS.
WHEREAS, the Omni Redevelopment District Community Redevelopment Agency
("CRA") is tasked with reducing slum and blight within its boundaries; and
WHEREAS, on September 13, 2016, the CRA adopted Resolution No. CRA-R-16-0042,
adopting the City of Miami's procurement code as the process in which any and all services and
goods are procured by the CRA; and
WHEREAS, Caprock 123, LLC, a for -profit entity ("Grantee"), submitted a request for
grant funding to develop a mixed -use project consisting of ground floor commercial, office
space, and three (3) or more low- or very -low-income housing units at 123 Northwest 14 Street,
Miami, Florida within the CRA's Redevelopment Area consistent with applicable zoning
regulations ("Project"); and
WHEREAS, page 4-23 of the 2019 Amendment to the CRA's Redevelopment Plan
("Plan") reaffirms the importance of the development of affordable housing to the economic
vitality of the CRA and identifies among its community benefits priority for the "inclusion of an
appropriate amount of below -market rate units," specifically units for low-income residents (less
than 80% AMI); and
WHEREAS, page 4-33 of the Plan states that "To assist for -profit housing providers in
the CRA could ... Provide a direct cash subsidy in the form of a rebate equal to a percentage of
the increases in taxes paid over a defined period of time after completion if affordable units are
provided" and "Grant funds to assist in rehabilitation of an existing housing project"; and
City of Miami Page 1 of 2 File ID: 10941 (Revision: A) Printed On: 1213012021
File ID: 10941 Enactment Number: CRA-R-21-0037
WHEREAS, the Grantee requests grant funding to assist with the development of the
Project in the amount of $1,300,000.00; and
WHEREAS, the success of the Project will result in accomplishing the stated objectives
of the Plan; and
WHEREAS, based on the recommendation and findings of the Executive Director,
attached and incorporated as Exhibit "A", it is in the CRA's best interest to authorize, by an
affirmative four -fifths (4/5ths) vote, a waiver of competitive sealed bidding procedures pursuant
to Sections 18-85 and 18-86 of the Code of the City of Miami, Florida, as amended ("City
Code"), as adopted by the CRA, to authorize the Executive Director to negotiate and execute
any and all agreements, all in forms acceptable to the General Counsel, with the Grantee for the
provision of grant funds to assist with the development of the Project in the amount of
$1,300,000.00;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF
THE OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY OF
THE CITY OF MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the Preamble of the Resolution are
adopted by reference and incorporated as fully set forth in this Section.
Section 2. By a four -fifths (4/5ths) affirmative vote, after an advertised public hearing,
the Executive Director's recommendation and written findings pursuant to Sections 18-85 and
18-86 of the City Code, as adopted by the CRA, are ratified, approved, and confirmed and the
requirements for competitive sealed bidding methods as not being practicable or advantageous
to the CRA are waived.
Section 3. The Executive Director is authorized to negotiate and execute an agreement
and supporting documents to provide funding to the Grantee to assist with a portion of the costs
associated with the Project in the amount of $1,300,000.00 in the form of a forgivable loan with
a term of 30 years with two (2) 10-year extensions, subject to a covenant being recorded on the
Property restricting the residential rents as described herein, subject to the availability of funds,
and subject to a form acceptable to the General Counsel.
Section 4. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND CORRECTNESS:
Barnaby L. Min, Deputy City Attorney 10/27/2021
City of Miami Page 2 of 2 File ID: 10941 (Revision: A) Printed on: 1213012021