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Community Redevelopment Agency
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C R A
OMNI CRA Resolution: CRA-R-21-0044
File Number: 10631
OMNI CRA
1401 N. Miami Avenue
Miami, FL 33136
www.miamicra.com
Final Action Date:10/28/2021
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 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, IN A FORM ACCEPTABLE TO THE GENERAL COUNSEL,
ALLOCATING GRANT FUNDS OF $15,000,000.00 FOR A MIXED -USE
DEVELOPMENT PROJECT OF PROPERTIES LOCATED AT 1441, 1445, AND
1455 NORTH MIAMI AVENUE, 25 AND 31 NORTHEAST 14TH STREET, AND
1412, 1418, 1428, AND 1432 NORTHEAST MIAMI COURT, MIAMI, FLORIDA
WITHIN THE CRA'S REDEVELOPMENT AREA TO 14TH STREET
DEVELOPMENT LLC, SUBJECT TO THE CRA BEING ABLE TO
SUCCESSFULLY SECURE FINANCING 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 Redevelopment Area; 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, 14th Street Development LLC, a subsidiary of NR Investments, Inc., a for
profit entity ("Grantee"), submitted a request for grant funding to the CRA to develop a mixed -
use project consisting of ground floor retail, office space, and approximately 398 income -
restricted housing units within the Redevelopment Area; 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 workforce housing units (at less
than 140% AMI) and 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
City of Miami Page 1 of 2 File ID: 10631 (Revision: A) Printed On: 112012022
File ID: 10631 Enactment Number: CRA-R-21-0044
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
WHEREAS, the Grantee proposes to complete a mixed -use development of properties
at 1441, 1445, and 1455 North Miami Avenue, 25 and 31 Northeast 14th Street, and 1412,
1418, 1428, and 1432 Northeast Miami Court, Miami, Florida within the CRA's Redevelopment
Area ("Project"); and
WHEREAS, the Grantee requests grant funding from the CRA for the Project in the
amount of $15,000,000.00; 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, 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 for the development of
the Project in the amount of $15,000,000.00;
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, all in forms acceptable to the General Counsel,
with the Grantee to provide assistance with a portion of the costs associated with the Project in
the amount of $15,000,000.00 in the form of a forgivable loan, subject to a covenant being
recorded on the property restricting the rents until 2047, the CRA being able to secure financing,
and the availability of funds.
Section 4. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND CORRECTNESS:
Barnaby L. Min, Deputy City Attorney 1/2012022
City of Miami Page 2 of 2 File ID: 10631 (Revision: A) Printed on: 112012022