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City of Miami
Legislation
CRA Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.ci.miami.fl.us
File Number: 06-00229 Final Action Date:
A JOINT RESOLUTION OF THE BOARDS OF DIRECTORS OF THE SOUTHEAST
OVERTOWN/PARK WEST AND OMNI REDEVELOPMENT DISTRICT
COMMUNITY REDEVELOPMENT AGENCIES AUTHORIZING THE EXECUTIVE
DIRECTOR TO EXECUTE AMENDMENTS, IN A FORM ACCEPTABLE TO
GENERAL COUNSEL, TO THE INTERLOCAL AGREEMENTS GOVERNING THE
SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT
AGENCY AND THE OMNI REDEVELOPMENT DISTRICT COMMUNITY
REDEVELOPMENT AGENCY, AND THE SETTLEMENT AGREEMENT IN
MIAMI-DADE COUNTY V. CITY OF MIAMI AND SOUTHEAST OVERTOWN/PARK
WEST COMMUNITY REDEVELOPMENT AGENCY, CIRCUIT COURT CASE NO.
2001-13810 CA-08, IN ACCORDANCE WITH THE TERMS SPECIFIED IN EXHIBIT
"A," ATTACHED AND INCORPORATED.
WHEREAS, the City of Miami, the Omni Redevelopment District Community Redevelopment
Agency, and Miami -Dade County wish to increase the redevelopment agency's financial support for
• the Performing Arts Center of Greater Miami.
WHEREAS, the City of Miami, the Omni Redevelopment District Community Redevelopment
Agency, and Miami -Dade County wish to extend the life of the redevelopment agency through the year
2027; and
•
WHEREAS, the City of Miami, the Southeast Overtown/Park West Community Redevelopment
Agency, and Miami -Dade County wish to extend the life of the redevelopment agency through the year
2027, obtain the approval of the Amended 2004 Southeast Overtown/Park West Community
Redevelopment Plan as prepared by Dover, Kohl & Partners, and expand the boundaries of the
Redevelopment Area; and
WHEREAS, The City of Miami, the Southeast Overtown/Park West Community
Redevelopment Agency, and Miami -Dade County wish to modify the settlement agreement in
Miami -Dade County v. City of Miami and Southeast Overtown/Park West Community Redevelopment
Agency, Circuit Court Case No. 2001-13810 CA-08, to extend the time to commence construction of
development on all blocks until August 2017; and
WHEREAS, the Boards of Directors wish to authorize the Executive Director to execute all
necessary amendments to the interlocal and settlement agreements to accomplish these purposes:
NOW, THEREFORE, BE IT RESOLVED BY THE BOARDS OF DIRECTORS OF THE
SOUTHEAST OVERTOWN/PARK WEST AND THE OMNI REDEVELOPMENT DISTRICT
COMMUNITY REDEVELOPMENT AGENCIES OF THE CITY OF MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted
City of Miami
Page 1 of 2 Printed On: 3/8/2006
File Number: 06-00229
by reference and incorporated herein as if fully set forth in this Section.
Section 2. The Executive Director is authorized to execute amendments, in a form acceptable
to General Counsel, to the lnterlocal Agreements governing the Omni Redevelopment District
Community Redevelopment Agency and the Southeast Overtown/Park West Community
Redevelopment Agency, and the Settlement Agreement in Miami -Dade County v. City of Miami and
Southeast Overtown/Park West Community Redevelopment Agency, Circuit Court Case No.
2001-13810 CA-08, in accordance with the terms specified in Exhibit "A," attached and incorporated.
Section 3. This Resolution shall become effective immediately upon its adoption.
ORM AND COR ' CTNESS:
City of Miami Page 2 of 2 Printed On: 3/8/2006
•
•
EXHIBIT "A"
1, In accordance with the procedures articulated in Florida state statutes, the life of
the Omni Redevelopment District Community Redevelopment Agency (OMNI CRA) shall
be extended through 2027 with a 95% Tax Increment Financing (TIF) contribution from
both the City of Miami (City) and Miami -Dade County (County).
2. The financial support frorn the OMNI CRA. for the Miami Performing Arts Center
(PAC) will be increased as follows:
(a) For five years, commencing with the Fiscal Year immediately following the
extension of the life of the OMNI CRA, the OMNI CRA shall remit to the County
$1,430,000 per year plus 30% of the total tax increment funds actually received
by the OMNI CRA above $1,430,000.
(b) Commencing in the sixth Fiscal Year immediately following the extension of the
life of the OMNI CRA through 2027, the OMNI CRA shall remit to the County the
greater of $1,430,000 or 30% of the total tax increment funds actually received
by the OMNI CRA.
(c) This financial support shall be used for the purpose of paying debt service on the
Performing Arts Center bonds and any excess shall be used to release
Convention Development Tax dollars to fund a trust for payment of operating
expenses of the PAC.
3, In accordance with the procedures articulated in Florida state statutes, the life of the
Southeast Overtown/Park West Community Redevelopment Agency (SEOPW CRA)
shall be extended through 2027 with a 95% TIF contribution from both the City and
County.
4. In accordance with the procedures articulated in Florida state statutes, the Amended
2006 Southeast Overtown/Park West Community Redevelopment Plan, as prepared by
Dover, Kohl & Partners will be approved by the City and County and the boundaries of
the Redevelopment Area expanded as provided in the amended plan.
5. Except as provided herein, no other changes will be made to the OMNI CRA or
SEOPW CRA agreements,
6. The Settlement Agreement in Miami -Dade County v. City of Miami and Southeast
Overtown/Park West Community Redevelopment Agency, Circuit Court Case No. 2001-
13810 CA-08, will be amended to extend the time to commence construction of
development on all blocks until August 2017,
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