HomeMy WebLinkAboutCRA-R-11-0043 07-28-2011 Cover MemoOmni Board of Commissioners Meeting
July 28, 2011
OMNI REDEVELOPMENT DISTRICT
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Marc D. Sarnoff
and Members of the CRA Board
From: Pieter A. Bockweg
Executive Director
Date: July 21, 2011 File: 11-00674
Subject: Allocation of Funds for MEC Development
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 the Executive Director
to allocate funds in the amount of $ 1,087,268.00. These funds are from the sale to FDOT of a portion of the
CRA owned Miami Entertainment Complex (MEC) property, located at 29 NW 13th Street, Miami, Florida, for the
planning, design, construction and development of the MEC Studio.
JUSTIFICATION:
The CRA purchased the former SKILL'S Building from the Miami -Dade County School Board with the intent to
build a state of the art film and entertainment complex to provide the film production companies with a facility in
Miami for productions, editing and distribution of their shows to the different markets. The present need for a
film and sound stage is adherent, already in Miami, several TV series like Burn Notice, Charlie's Angels, ,The
Glades and others are filming in south Florida and taking advantage of the State of Florida's tax incentives for
the next five ( 5 ) years.
The development of the MEC Studio supports the objectives, pursuant to the OMNI's CRA Redevelopment
Plan, B-3, B-4 and B-5, of creating economic magnets to draw more businesses to the Omni area to compliment
established activities, to promote the concentration of similar business activities that reinforce each other and
improve the are -wide economic climate, and the creation of employment opportunities.
FUNDING:
Allocation of funds from the sale to FDOT of a portion of the Skill's Building in the amount of $1,087,268.00;
from Omni Tax Increment Fund, "Construction in Progress," Account No. 10040.920101.670000.0000.00000.