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OMNI
Community Redevelopment Agency
Legislation
OMNI CRA Resolution: CRA-R-23-0013
OMNI CRA
1401 N. Miami Avenue
Miami, FL 33136
www.omnicra.com
File Number: 13912 Final Action Date:4/27/2023
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE OMNI
REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY
("CRA") RESCINDING CRA RESOLUTION CRA-R-22-0019, ADOPTED ON JUNE
9, 2022, RELATED TO THE APPROVAL OF A TAX INCREMENT FINANCE
("TIF") REBATE TO K-P 1900 BISCAYNE JV, LLC, FOR A MIXED -USE AND
MIXED -INCOME PROJECT KNOWN AS "EDGEWATER COLLECTIVE" FOR THE
DEVELOPMENT OF PROPERTY GENERALLY LOCATED AT 1900 BISCAYNE
BOULEVARD, MIAMI, FLORIDA, AND AUTHORIZING THE CRA TO REBATE TO
1900 BISCAYNE PROPERTY OWNER LLCA DELAWARE LIMITED LIABILITY
COMPANY ("DEVELOPER"), THE TAX INCREMENT FINANCE ("TIF")
REVENUES GENERATED ONLY FROM THE DEVELOPMENT BY THE
DEVELOPER OF THE PROJECT IN AN AMOUNT NOT TO EXCEED 95% OF
THE TIF COLLECTED FROM THE PROJECT ANNUALLY, PAYMENT BEING
UPON SUBSTANTIAL COMPLETION OF THE PROJECT RECEIVING A
CERTIFICATE OF OCCUPANCY OR TEMPORARY CERTIFICATE OF
OCCUPANCY, SUBJECT TO THE RENTS FOR NOT LESS THAN 10% OF THE
PROJECT'S DWELLING UNITS BEING RESTRICTED UNTIL 2030, OR UNTIL
2047 IF THE LIFE OF THE CRA IS EXTENDED TO 2047, AT RENTS SERVING
HOUSEHOLDS EARNING NOT LESS THAN 60% OF AREA MEDIAN INCOME
(AMI) AND NOT MORE THAN 100% OF AMI; FURTHER AUTHORIZING THE
EXECUTIVE DIRECTOR TO NEGOTIATE AND EXECUTE ANY AND ALL
OTHER NECESSARY DOCUMENTS, ALL IN ACCORDANCE WITH THIS
RESOLUTION.
WHEREAS, on June 9, 2022, the Omni Redevelopment District Community
Redevelopment Agency ("CRA") as part of its efforts to beautify the OMNI Community
Redevelopment District approved OMNI CRA Resolution CRA-R-22-0019, on June 9, 2022, (the
"Prior Resolution"), which authorized a rebate to K-P 1900 Biscayne JV, LLC, (the "Prior
Developer"), of the tax increment finance ("TIF") revenues generated only from the development
by the Developer of the Edgewater Collective Development (the "Project") located at 1900
Biscayne Boulevard, Miami, Florida, in an amount not to exceed 95% of the TIF collected from
the Project annually payment being upon substantial completion of the project receiving a
certificate of occupancy or temporary certificate of occupancy until 2030, or until 2047, if the life
of the CRA is extended to 2047; and
WHEREAS, pursuant to the Prior Resolution, the Executive Director was authorized to
negotiate and execute any and all necessary documents, all in a form acceptable to the General
Counsel; and
WHEREAS, 1900 Biscayne Property Owner LLC, (the "Developer"), is requesting that
the CRA rescind the Prior Resolution and replace it with this new Resolution in order to provide
City of Miami Page 1 of 2 File ID: 13912 (Revision: A) Printed On: 9/11/2025
File ID: 13912 Enactment Number: CRA-R-23-0013
the correct name of the Developer, from K-P 1900 Biscayne JV, LLC to 1900 Biscayne Property
Owner LLC (the "Developer"); and
WHEREAS, the CRA agrees to rescind and replace the Prior Resolution to provide for
the correct name of the Developer from K-P 1900 Biscayne JV, LLC to 1900 Biscayne Property
Owner LLC, and except for the change of the name of the Developer affirms the approval of the
rebate of the TIF for the Project as provided in the prior Resolution as set forth herein; and
WHEREAS, the CRA Board finds that the approval of this Resolution is consistent with
the requirements of Chapter 163, Part III, Florida Statutes, the provisions of the Omni
Redevelopment District Community Redevelopment Plan, is in the best interest of the residents
and businesses within the CRA's boundaries, and serves a municipal and public purpose;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY
Section 1. The recitals and findings contained in the Preamble to this Resolution are
hereby adopted by reference thereto and incorporated herein as if fully set forth in this Section.
Section 2. The CRA hereby rescinds CRA Resolution CRA-R-22-0019, adopted June 9,
2022.
Section 3. The Executive Director is authorized to provide the Developer with Tax
Increment Finance Rebate from the Development TIF from the CRA in an amount not to exceed
95% per year until 2030, or 2047 if the life of the CRA is extended to 2047, to be paid upon
substantial completion of the Project and the Project receiving a temporary certificate of
occupancy or certificate of occupancy for the Project, subject to a covenant being recorded on
the Property restricting rents for not less than 10% of the Project's dwelling units until 2030, or
2047 if the current life of the CRA is extended through such date, to underwrite a portion of the
costs associated with the mixed use development Project located at 2000 Biscayne Boulevard,
Miami, Florida.
Section 4. The Executive Director is further authorized to negotiate and execute any
and all documents, all in a form acceptable to general counsel, for the purposes stated herein.
Section 5. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND CORRECTNESS:
ndez, City Attor ey ) 4/25/2023
City of Miami
Page 2 of 2 File ID: 13912 (Revision: A) Printed on: 9/11/2025