HomeMy WebLinkAboutCRA-R-10-0091 Cover Memo 09-20-2010Omni Board of Commissioners Meeting
September 20, 2010
OMNI REDEVELOPMENT DISTRICT
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Marc D. Sarnoff
and Members of the CRA Board
From: Pieter Bockweg
Executive Director
Date: September 10, 2010 File: 10-01100
Subject: Resolution Authorizing Expenditures and
Grants for the Entertainment Industry.
References:
Enclosures: Supporting Documentation; Legislation
BACKGROUND:
It is recommended that the Board of Commissioners of the Omni Redevelopment District Community
Redevelopment Agency ("CRA") approve and adopt the attached Resolution authorizing expenditures and
grants, in a total amount not to exceed $250,000, in support of film, media entertainment, and film -support
businesses within the Redevelopment Area.
The CRA seeks to develop the Redevelopment Area as an attractive location for those professionals and
entities involved in the film, media entertainment, and film support industries. The Redevelopment Area offers a
diverse landscape featuring several distinct entertainment districts and is located in close proximity to downtown
Miami, just minutes away from Miami Beach.
In addition to the State of Florida's recent allocation of $242 million in film tax credits, the Area is located within
the environs of an Empowerment Zone, Urban Enterprise Zone, and Brownfield Redevelopment Zone that
provide additional tax advantages, technical assistance, and economic, financial and regulatory incentives to
businesses located in or relocating within the boundaries of these target zones.
JUSTIFICATION:
Section 4.4, B., at page 41, of the 2009 Omni Redevelopment Plan lists the "[creation of] a sustainable regional
destination and identity by capitalizing on the development of the ... Media/Entertainment District," as a stated
redevelopment objective.
Section 4.4, B., at page 41, of the 2009 Omni Redevelopment Plan lists the "[creation of] economic magnets to
draw more businesses to the Omni area to compliment established activities in the surrounding area," as a
stated redevelopment objective.
Section 4.4, B., at page 41, of the 2009 Omni Redevelopment Plan lists the "[promotion of] concentrations of
similar business activities that reinforce each other and improve the area -wide economic climate," as a stated
redevelopment objective.
Section 4.4, B., at page 41, of the 2009 Omni Redevelopment Plan lists "[providing] employment opportunities
and upward job mobility for residents," as a stated redevelopment objective
FUNDING: $250,000 from Omni Tax Increment Fund, "Other Grants and Aids," Account Code No.
10040.920101.883000.0000.00000.