HomeMy WebLinkAbout2972 Master Reportr o-
—et ow
Omni
CRA
OMNI
Community Redevelopment Agency
Master Report
Enactment Number:
OMNI CRA
1401 N. Miami Avenue
Miami, FL 33136
http://miamicra.com
File Number: 2972
Revision:
File Type: OMNI CRA
Resolution
File Name: Max Miami (Canvas) Economic Incentive Agreement
- 5th Amendment
Requesting Dept: OMNI Community Redevelopment Agency
Status: DISCUSSED
Controlling Body: OMNI Community
Redevelopment Agency
Introduced: 9/23/2017
Final Action Date: 10/3/2017
Title: A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE OMNI
REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY ("CRA")
AUTHORIZING THE EXECUTIVE DIRECTOR TO EXECUTE THE FIFTH AMENDMENT
TO THE ECONOMIC INCENTIVE AGREEMENT ("INCENTIVE AGREEMENT"), IN A
FORM ACCEPTABLE TO THE GENERAL COUNSEL, WITH NR MAX MIAMI, LLC, A
FLORIDA LIMITED LIABILITY COMPANY ("DEVELOPER"), REMOVING THE
CONDITION THAT THE DEVELOPER COMPLETE THE COMMUNITY BENEFIT
IMPROVEMENTS AS DESCRIBED IN THE INCENTIVE AGREEMENT ("COMMUNITY
IMPROVEMENTS"); INCREASING THE YEARLY CAPACITY OF TAX INCREMENT
PROVIDED TO THE DEVELOPER FROM $750,000.00 TO $812,500.00 PER YEAR;
AND FURTHER AUTHORIZING THE EXECUTIVE DIRECTOR TO ACCEPT A
PAYMENT FROM THE DEVELOPER IN AN AMOUNT NOT TO EXCEED TWO
MILLION DOLLARS ($2,000,000.00) FOR THE REMAINING VALUE OF THE
COMMUNITY IMPROVEMENTS, LESS ANY AMOUNT ALREADY EXPENDED BY THE
DEVELOPER PURSUANT TO THE INCENTIVE AGREEMENT.
Notes:
Links:
Attachments:
History of Legislative File:
Revision: Acting Body: Date:
Action: Result:
Barnaby L. Min
OMNI Community
Redevelopment Agency
OMNI Community
Redevelopment Agency
9/28/2017
10/3/2017
10/3/2017
Approved Form and
Correctness
Meeting
DISCUSSED
Completed
Completed
Passed
City of Miami Page 1 of 1 Printed on: 9/14/2022