HomeMy WebLinkAboutCRA-R-09-0023 Legislation Version 2 - 04-27-2009City of Miami
Legislation
CRA Resolution: CRA-R-09-0023
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File N unrlrei: 0')-UU43U Final Aelion Dale:4127/20U9
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE OMNI
REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY, WITH
ATTACHMENT(S), AUTHORIZING EXECUTION OF A DEVELOPMENT
AGREEMENT, IN SUBSTANTIALLY THE ATTACHED FORM. WITH BDB MIAMI.
LLC FOR DEVELOPMENT OF THE BAYVIEW MARKET PROJECT.
WHEREAS, the Omni Redevelopment District Community Redevelopment Agency ("CRA") is
responsible for carrying out community redevelopment activities and projects within the
Redevelopment Area in accordance with its approved Redevelopment Plan; and
WHEREAS, Section III.B., at page 9, of the Omni Area Redevelopment Plan, as amended, lists
"[c]reat[ing] economic magnets to draw more businesses to the Omni area . . as a stated
redevelopment objective; and
WHEREAS, Section I II. D., at page 10, of the Omni Area Redevelopment Plan, as amended,
lists "[p]rovi[sion of] employment opportunities and upward job mobility for residents" as a stated
redevelopment objective; and
WHEREAS, BDB owns property at N.E. 17th Street and N.E. 2nd Avenue, and intends to
develop "Bayview Market," a commercial project which includes a minimum of 400.000 square feet of
retail and office space, and a parking facility with at least 1,800 parking spaces ("Project"); and
WHEREAS, BDB has requested funding assistance, in an amount not to exceed $20,000,000,
from the CRA for the development and construction of the Project;
WHEREAS, the CRA and BDB have negotiated a development agreement that requires BDB
to expend approximately $110,000,000 and create approximately 380 jobs, in exchange for the receipt
of 50°/0 of the tax increment revenues generated by the Project; and
WHEREAS, the Board of Commissioners wishes to authorize execution of the development
agreement with BDB;
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. Execution of a development agreement, in substantially the attached form, with
BDB Miami, LLC for the development of the Bayview Market project is authorized.
Cloy of hlirrmi
Page 1 of 2 Printed On: 11/25/2009
File Nutnber.: 09-00430 l:arraetment .4 umber: (R.-R-(/9-(Y)2 3
Section 3. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND CORRECTNESS:
WILLIAM R. BLOOM
SPECIAL COUNSEL
713 af'.11iiatni
Page 2 op Printed On: 11/25/2009