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Home My WebLink AboutOMNI CRA 2023-09-28 Agenda PacketCity of Miami 3500 Pan American Drive Miami, FL 33133 www.miamigov.com Omni C R A Meeting Agenda Thursday, September 28, 2023 9:30 AM (OR THEREAFTER) City Hall 3500 Pan American Drive Miami, FL 33133 OMNI Community Redevelopment Agency Joe Carollo, Vice Chair, District Three Sabina Covo, Board Member, District Two Manolo Reyes, Board Member, District Four Christine King, Board Member, District Five Vacant, Board Member, District One OMNI CRA OFFICE ADDRESS: 1401 N. Miami Avenue, 2"d Floor Miami, FL 33136 Phone: (305) 679-6868 www.miamicra.com OMNI Community Redevelopment Agency Meeting Agenda September 28, 2023 CALL TO ORDER APPROVING THE MINUTES OF THE FOLLOWING MEETING(S): 1. OMNI COMMUNITY REDEVELOPMENT AGENCY - REGULAR MEETING - JUL 13, 2023 9:30 AM OMNI CRA RESOLUTION(S) 1. OMNI CRA RESOLUTION 14744 A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY ("CRA"), WITH ATTACHMENT(S), APPROVING AND ADOPTING THE CRA'S PROPOSED GENERAL OPERATING BUDGET AND TAX INCREMENT FUND BUDGET FOR THE FISCAL YEAR COMMENCING OCTOBER 1, 2023, AND ENDING SEPTEMBER 30, 2024; DIRECTING THE EXECUTIVE DIRECTOR TO TRANSMIT A COPY OF THE BUDGET TO THE CITY OF MIAMI AND MIAMI-DADE COUNTY. ADJOURNED aVINI Community Redevelopment Agency Page 2 Printed on 9/27/2023 OMNI Board of Commissioners Meeting September 28, 2023 1.1 OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY INTER -OFFICE MEMORANDUM Board Vice Chair Joe Carollo Date: September 25, 2023 and Members of the CRA Board File: 14744 From:H. Bert Gonzalez Executive Director Subject: Approving Omni CRA's General Operating Budget & Tax Increment Fund Budget for FY '23-'24 Enclosures: 14744 Exhibit A 14744 Exhibit B BACKGROUND: It is recommended that the Board of Commissioners of the Omni Redevelopment District Community Redevelopment Agency ("CRA") approve and adopt the attached resolution, with attachment(s), adopting the proposed Omni CRA's General Operating Budget and Tax Increment Fund Budget, for the fiscal year commencing October 1,2023, and ending September 30, 2024, and further directing the Executive Director to transmit a copy of each budget to the City of Miami and Miami Dade County. JUSTIFICATION: The Interlocal Agreement requires the OMNI CRA to annually prepare a proposed budget and transmit same to the City of Miami and Miami Dade County. This Resolution fulfills this requirement. Packet Pg. 3 1.1 Trak Omni_ C R A City of Miami Legislation OMNI CRA Resolution OMNI CRA 1401 N. Miami Avenue Miami, FL 33136 www.miamicra.com File Number: 14744 Final Action Date: A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY ("CRA"), WITH ATTACHMENT(S), APPROVING AND ADOPTING THE CRA'S PROPOSED GENERAL OPERATING BUDGET AND TAX INCREMENT FUND BUDGET FOR THE FISCAL YEAR COMMENCING OCTOBER 1, 2023, AND ENDING SEPTEMBER 30, 2024; DIRECTING THE EXECUTIVE DIRECTOR TO TRANSMIT A COPY OF THE BUDGET TO THE CITY OF MIAMI AND MIAMI-DADE COUNTY. WHEREAS, the Omni Redevelopment District Community Redevelopment Agency ("CRA") is responsible for carrying out community redevelopment activities and projects within its Redevelopment Area; and WHEREAS, as a prerequisite to carrying out Fiscal Year 2023-2024 redevelopment activities, the Board of Commissioners must approve the CRA's proposed General Operating Budget and Tax Increment Fund Budget ("Budget") for the Fiscal Year commencing October 1, 2023, and ending September 30, 2024 ("Fiscal Year"); and WHEREAS, the CRA's Budget is in the total amount of $62,699,229.00 for the Fiscal Year; and WHEREAS, as part of the approval of the Fiscal Year Budget, the CRA hereby deobligates the unused portion of the funds amounted to $1,977,961.00 as outlined in Exhibit "B". WHEREAS, as part of the Budget, the Executive Director of the CRA shall receive an annual salary of Two Hundred Thirty Thousand Dollars and a twenty percent employer's retirement contribution. These adjustments do not increase the total "Regular Salary" and "Retirement Contribution" budget amounts authorized for the previous year; and WHEREAS, a copy of the Budget is required to be transmitted to the City of Miami ("City") and Miami -Dade County ("County"); 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 to this Resolution are adopted by reference and incorporated herein as if fully set forth in this Section. Section 2. The Executive Director's salary is adjusted to reflect an annual amount of Two Hundred Thirty Thousand Dollars and a twenty percent employer's retirement contribution as stated herein. City of Miami Page 2 of 3 File ID: 14744 (Revision:) Printed On: 9/27/2023 Packet Pg. 4 1.1 Section 3. The Budget for the Fiscal Year commencing October 1, 2023, and ending September 30, 2024, attached and incorporated as Exhibit "A" and Exhibit "B", are approved and adopted. APPROVED AS TO FORM AND CORRECTNESS: VICTORIA MENDEZ, GENERAL COUNSEL City of Miami Page 3 of 3 File ID: 14744 (Revision:) Printed On: 9/27/2023 Packet Pg. 5 EXHIBIT "A" 5th Budget Update 9/25 1.1.a OMNI TAX INCREMENT FUND BUDGET FY 2024 PROPOSED BUDGET F.Y 2023 ADOPTED BUDGET BUDGET VARIANCE REVENUES CITY OF MIAMI - TAX INCREMENT $21,570,698 $18,777,937 $2,792,761 MIAMI DADE COUNTY -TAX INCREMENT (ORIGINAL BOUNDARIES) $13,184,684 $11,488,327 $1,696,357 CITY OF MIAMI - TAX INCREMENT (2009 ADDITION EXPANDED BOUNDARIES) $1,402,595 $1,174,451 $228444 MIAMI DADE COUNTY - TAX INCREMENT (2009 ADDITION EXPANDED BOUNDARIES) $857,378 $718,388 $138,990 Total TIF Revenues $37,015,355 FUND BALANCE LOAN SERIES 2018 A and 2018 B (Funds held by Bank United) $0 $9,840,547 ($9,840,547) TRANSFER FROM MIDTOWN CRA (Administration) 5134,363 $120,324 $14,039 RENT INCOME Flre House Market (514,400/month)IRent abated due to repairs)/MEC ($8,333/Month) $100,000 $172,800 ($72,800) 2024 CHILDREN TRUST CONTRIBUTION $1,434,138 $1,256,759 $177,379 2023 ESTIMATED FUND BALANCE $24,015,373 $36,911,034 ($12,895,661) TOTAL REVENUE .:. $62,699,229 $80,460,567 ($17,761,338) REDEVELOPMENT EXPENDITURES ACCOUNTING AND AUDIT $26,700 $26,700 $0 PROFESSIONAL SERVICES - OTHER (Available funds for consulting agreements for specific period of time) $500,920 $425,920 $75,000 OTHER CONTRACTUAL SERVICES (Available funds for service agreements for limited time frame to be provided on as needed basis) $711,097 $637,987 $73,110 INTERFUND TRANSFER (Debt Service) $2,817,239 $2,817,970 ($731) INTERFUND TRANSFER (Grant) $812,So0 $812,500 $0 OTHER CURRENT CHARGE $0 $0 $0 OTHER GRANTS AND AIDS $22,641,072 $38,499,833 ($15,858,761) ADMINISTRATIVE EXPENDITURES REGULAR SALARIES $886,800 $930,000 ($43,200) FICA TAXES $67,840 $71,145 ($3,305) LIFE AND HEALTH INSURANCE $80,000 $130,000 ($50,000) RETIREMENT CONTRIBUTION $50,000 $50,000 $0 FRINGE BENEFITS $4,800 $13,200 ($8,400) OTHER CONTRACTUAL SERVICE $140,000 $140,000 $0 TRAVEL AND PER DIEM $30,000 $30,000 $0 UTILITY SERVICE $20,300 $20,300 $0 INSURANCE $219,518 $115,000 $104,518 OTHER CURRENT CHARGE $249,378 $234,763 $14,615 SUPPLIES $7,000 $10,000 ($3,000) OPERATING SUPPLIES $10,000 $10,000 $0 SUBSCRIPTION MEMBERSHIP $10,000 $17,000 ($7,000) MACHINERY AND EQUIPMENT $25,000 $25,000 $0 ADVERTISING $15,000 $30,000 ($15,000) RENTAL AND LEASES $3,600 $3,600 $0 POSTAGE $2,000 $2,000 $0 REPAIR/MAINTENANCE- OUTSIDE $2,000 $2,000 $0 INTERFUND TRANSFER $60,000 $18,000 $42,000 Toter Administrative Expenditures $1,883,237 RESERVE FOR 2007 GLOBAL AGREEMENT (TUNNEL) $4,084,633 $4,084,633 $0 2024's RESERVE FOR 2007 GLOBAL AGREEMENT (35 % PAC) $12,955,374 $22,017,322 ($9,061,948) 2024's RESERVE FOR INTERLOCAL CHILDREN'S TRUST $1,434,138 $1,256,759 $177,379 PAYMENT TO CITY OF MIAMI FOR MAURICE FERRE PARK $5,000,000 $2,000,000 $3,000,000 Total Reserve for Obligations with Other Government $23,474,148 Agendas RESERVE FOR MIDTOWN ADM EXPENDITURES $134,363 $120,324 $14,039 RESERVE FOR SECURITY DEPOSIT - MEC $125,000 $125,000 $0 RESERVE FOR SECURITY DEPOSIT - 1401 GROUP LIC $40,000 $40,000 50 RESERVE FOR CAPITAL EXPENDITURES (Funds ronected5l,588,42Ophi, 2024rMEC rent $1oo,000) $1,988,410 $1,864,032 $124,378 RESERVE -BILLBOARD (RENT COLLECTED) $284,273 $284,273 $0 RESERVE FOR PAYMENT OF PROPERTY TAXES - MEC $234,378 $227,763 $6,615 RESERVE FOR UNSOLICITATED PROPOSALS $25,000 $25,000 $0 Total Reserve for Other $2,(131,424 - 2019 BUDGET RESERVE $28,893 $28,893 $0 2020 BUDGET RESERVE $406,671 $406,671 $0 2021 BUDGET RESERVE $532,471 $532,471 $0 2022 BUDGET RESERVE $654,760 $654,760 $0 2023 BUDGET RESERVE $3,108,217 $1,719,748 $1,388,469 2024 BUDGET RESERVE $2,269,883 $0 $2,269,883 Total Revenue shortfall Reserve $7,000,8g8 TOTAL FUND BALANCE • • $62,699,229 $80 460,567 ($0,761,338) So 0 0 A) B) C) 2024 TIF Revenue 2024 TIF Rev for Affordable Housing % 2024 Budget for Affordable Housing $37,015,355 $3,701,536 10% 2024 TIF Revenue $37,015,355 2024 Administrative Expenditures $1,883,237 % Administrative Exp / 2024 TIF Revenue 5% Budget Reserve (2019, 2020, 2021, 2023 and 2024) $7,000,895 Total 2024 Budget $62,699,229 % 2024 Budget Reserve / Total 2024 Budget 11% Attachment: 14744 Exhibit A (14744 : Approving Omni CRA's General Operating Budget & Tax Increment Fund Budget for FY'23-24) 1 Packet Pg. 6 1.1.a Description Category Reso 9 Budgeted Amount • Expended. .'Amount Remaining Balance Accounting and Audit. 1 2023's External Auditing Services to the OMNI CRA Sanson, Kline, Jacomino, Tandoc & Gamarra, LLP Priafes£Ionaiserdltes Other" Administration 16-0038 $26,700 $0 $26,700 Financial Consultant Other Professional Services 16-0064 $75,000 $0 $75,000 3 Available funds for Other Professional Services Other Professional Services NR $425,920 $0 $425,920 Ot 'er. Cbiffraltuafsalvldes. Available funds for Other Contractual Services Other Professional Services NR $711,097 $0 $711,097 sGbiotef 41,288;717 ,$0 '41,48,717 Funding Source Carryover Fund TIP Revenue Balance ....: .....:_ $0 $26,700 $75,000 $0 $425,920 $0 $711,097 $0 5918x'037 'r$10474b' . '$1;1By;1117 .-StGf,$700 Total Budget Amount (Professional Services - Legal, Accounting and Audit, Professional Services - Other and Other Contractual Services) 51,238,717 $26,700 $500,920 $711,097 Attachment: 14744 Exhibit A (14744 : Approving Omni CRA's General Operating Budget & Tax Increment Fund Budget for FY'23-24) 2 Packet Pg. 7 1.1.a Description',: Category- Approval Date Repo 0 - - Budgeted Amount Expended Amount Remaining -- Balance Carryover Fund Balance TIF Revenue.- jtitertund Transfer (Debt Service) 1 2023 Loan Payment BankUnited • Principal Amount $25M Debt Service Debt Service $2,817,239 $0 $2,817,239 $0 $2,817,239 ltltb(f{Indfar (Grant) 2 2024TIF Payment to MAX Nang LLC, Subtotal Quality of Life 18-0004 $812,500 $0 $812,500 $0 $812,500 $3,629,739 $0 $3,629,739 . $0 $3,629,739 Total Budget Amount (Interfund Transfer (Debt Service), Debt Service, Purchase of Land and Interfund Transfer (Grant) $9 $3,6 $3,629,739 $2,817,239 $812,500 Attachment: 14744 Exhibit A (14744 : Approving Omni CRA's General Operating Budget & Tax Increment Fund Budget for FY'23-24) 3 Packet Pg. 8 1.1.a Description - Category - :. Approval Date - Resu8 - Amount Budgeted--- - -:Amount - Expended -- RemalMng _- Balance -- Carryover Fund Fund Balance. TIF Revenue.. other Grants and Aids - 1 Dorsey Library- Project Cost - CIP Project - Funds derived from sale of land • 14th St OEV LLC- $1,253,649- CRA-R.15.0021 Infrastructure 9/19/2017 CIP Protect R•17.0418 $850,000 $743,214 $106,786 $105,786 $0 2 2023 Miami Downtown Development Authority to expand the Downtown Enhancement Team (Purple Shirts) Quality of Life and lob Creation 4/27/2023 23-0011 $310,000 $189,753 $120,247 $120,247 $0 3 , 4 Museum Park Remediatlon Project 6.30538. CIP Project funded with OMNI TIF Funds. Infrastructure 4/19/2017 17.0022 $175,000 $150,343 $24,657 $24,657 SO Reserve for Affordable Housing derived from 111 Revenue ($3,215,910 • FY2023 and $3,723,682• FY2024) Affordable Housing • Unrestricted Funds i5[., 9/73/2016 [3 160040 err $6,917,446 +�� +,44 .. .. _ $0 $6,917,446 $3,215,91010 $3,701,536 Fp. 4.1 Mixed -use development project located 123 NW 14th St• CAPROCK Affordable Housing 10/22/2021 21-0037 $1300,000 $325,000 $975000 $975,000 $0 Boil %i 4f%.4ft281�:.' Wdir` 144.9fiit`>'%4 kt43.1 V40,0 * Nc12 f:,Y+};hotcw 1, P, ,:>'tir54rS`550 N;'dt:Yf0'btir3 t1.v!t:h05 f >f IKF , 5 Bank Restoration -Total Protect Cost $6,339,898.04 (Phase 1 and 2) Iflstoric Preservation 6/3/2021 21.0031 $5.8M plus contigency up to 200 Phase 1 $3,432,745 $3,432, 746 $0 $0 $0 5.1 Shoring of the Citizens Bank Building located at 1367 North Mlaml. Funds derived from Loan Series 2018A ($4,405,620)-MASS Construction Corp. The shoring protect S2,907,150.40 - Phase 2 Infrastructure 6/3/2021 21-0031 $5.8M plus contigency up to 2051 Phase 11 $2,947,254 $2,852,590 $94,664 $94,664 SO 6 16 Corner LlC Affordable Housing Project Affordable Housing 2/22/2038 18.0008/ 18-0026 (MT Von Developments - Developer Selected) $3,800,000 al $3,319,665 $480,335 $480,335335 $0 , 7 �ai 1p ...j Miami Homes for All Inc. _... Affordable "....._ 10/22/3O71 - ;,. '3 aapusr+- F' ' ,47 u�i�T mrs �ca�"' :Ulf — `ir 21-0038 5150.000 $0 5150.000 8150.000 SO 8 Deobllgated funds on 10/13/2022 Unrestricted 10/12/2022 22-0040 $4,195,500 $0 $4,195,500 $4,195,500 $0 9 Funds to be deobligated Unrestricted N/A Carryover $1,977,961 $0 $1,977,961 $1,977,961 $0 10 2023's Available for Other Grants and Aids Unrestricted N/A Carryover $4,209,224 $0 $4,209,224 $4,209,224 $0 11 2024's Available for Other Grants and Aids Unrestricted N/A 2024's Budget $3,389,253 $0 $3,389,253 $0 $3,389,253 - ' --SubtotaF -- - - - - --$33654,383.-.$13,0330:12-----$22$44073 - - $15,550283 57093,789 Tot 1 Budget Amount Other Grants and Aids $22 641,072 Attachment: 14744 Exhibit A (14744 : Approving Omni CRA's General Operating Budget & Tax Increment Fund Budget for FY'23-24) Packet Pg. 9 1.1.a Rental and Leases To Include the cost of stamps or other related Item. Distribution of newsletter in the CRA area. Ex. Mailing services and FedEx. Postage To Include the cost associated to any office/truck repair. Travel and Per Diem OMNI (Position Executive Director - OMNI $230,000 Executive Assistant to the Executive Director $100,000 Senior Protect Manager $90,000 Receptionist $56,000 Community Liaison $72,000 Legal Intern $37,000 Purple Shirt Staff 23,400 Purple Shirt Staff 23,400 Contingency Compensated Absences Regular Salaries FICA taxes Health/Dental/Vlslon Insurance Available funds for Health/ Dental/ Vision/ Life insurance Life and Health insurance $175,000 $80,000 $886,800 1 $67,840 $67,840 1 $80,000 $80,000I Executive Director (20% Employer's Contribution) $46,000 Available funds for Retirement Contribution $15,900 Retirement Contribution I 00,0001 Car Allowance Executive Director - OMNI $3,600 Cell Phone Allowance Executive Director - OMNI $1,200 Fringe Benefits $4,800I Available funds for Other Contractual Services $140,000 Other Contractual Services $140,o00I To Include cost for travel out of the city for conferences and travel allowances. $30,000 $30,000 I FPL- Fire House Miami Water and Sewer Contingency Utility Service Property Insurance/General/Liability Insurance (CRA Owned Properties) Workers Compensation (CRA Staff) Insurance To Include the cost of food associated to CRA Meetings/Ribbon Cutting Ceremonies. To include the cost of miscellaneous supplies. 2024 MEC Property Taxes (Estimated) Other Current Charges To Include supplies necessary for use In the operation of an office, such as copy paper for the Supplies To Include other supplies not office related. Ex. Misc. Project Construction and Site Signage Operating Supplies To Include the cost of memberships to organization, Microsoft license, and Florida Redevelopment Association. Subscription Membership To Include the cost of new vehicle Machinery and Equipment To Include the expenses of placing advertisements in the newspapers or other publications. Advertising $10,800 $3,500 $6,000 $20,300 I $209,518 $10,000 $219,518 I $10,000 $5,000 $234,378 $249,378 I $7,000 $7,00o I $10,000 $20,000 I $10,000 $25,000 $25,000 I $15,000 $25,000 I Konica Minolta Copier $3,600 $3,600 I $2,000 $2,000 I $2,000 Attachment: 14744 Exhibit A (14744 : Approving Omni CRA's General Operating Budget & Tax Increment Fund Budget for FY'23-24) 5 Packet Pg. 10 1.1.a Repair / Maintenance - Outside To Include transfer of funds to the City of Miami Office of the City Clerk for services to be rendered as Clerk of the Board. Interfund Transfer Total FY 2024 Administrative Budget $2,000 I $60,000 $60,0001 $1,883,237 Attachment: 14744 Exhibit A (14744 : Approving Omni CRA's General Operating Budget & Tax Increment Fund Budget for FY'23-24) 6 Packet Pg. 11 EXHIBIT "B" 1.1.b Description Approval Date Resolution Number Approved Award Expended Amount Remaining Amount 1 2017 Miami Downtown Development Authority to expand the Downtown Enhancement Team (Purple Shirts) 12/14/2016 1/17/2018 16-0057 $50,000 $50,000 $37,798 $12,202 2 2021 Miami Downtown Development Authority to expand the Downtown Enhancement Team (Purple Shirts) 6/3/2021 21-0011 $300,000 $157,299 $142,701 3 2022MIaml Downtown Development Authority to expand the Downtown Enhancement Team (Purple Shirts) 10/22/2021 21-0040 $300,000 $189,551 $110,449 4 2018 Available for Business Improvement and Assistance Grant Program 4/18/2018 18-0023 $500,000 $300,000 $200,000 5 Business Grant Program 9/12/2018 18-0037 $500,000 $408,233 $91,767 6 2020 Business Improvements and Assistance Grant Program 10/30/2019 19-0041 $752,500 $681,158 $71,342 7 2021 Business Grant Program 6/3/2021 21-0012 $800,000 $145,000 $655,000 8 Acquisition of property located at 1520 NW 1th Court 10/22/2021 21-0039 $400,000 $0 $400,000 9 Acquisition of property located at 1428 NW 1st Avenue (7680 sf) 2/19/2019 19-0001 $450,000 $397,726 $52,274 10 Disease 2019 ("COVID-19") Emergency Relief Program ($25K not to exceed) 9/24/2020 20-0017 $1,000,000 $820,000 $180,000 11 2016 Grant to Rebuilding Together Miami -Dade Inc. to provide partial funding for a home improvement facade and quality Ilfe program. Additionally, 2018 Grant to Rebuilding Together Miami Dade Inc. 12/14/2016 16-0061 18-0028 $1,300,000 $1,237,774 $62,226 55.352 SQQ S1121532 S3.2ZZ.9_61 Packet Pg. 12