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Omni
CRA
OMNI
Community Redevelopment Agency
Legislation
OMNI CRA Resolution:
OMNI CRA
1401 N. Miami Avenue
Miami, FL 33136
www.omnicra.com
File Number: 15520 Final Action Date:
MAY BE WITHDRAWN A RESOLUTION OF THE BOARD OF COMMISSIONERS
OF THE OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT
AGENCY ("CRA"), WITH ATTACHMENT(S), BY A FOUR -FIFTHS (4/STHS)
AFFIRMATIVE VOTE, AFTER AN ADVERTISED PUBLIC HEARING, RATIFYING,
APPROVING, AND CONFIRMING THE EXECUTIVE DIRECTOR'S WRITTEN
RECOMMENDATION AND FINDING, ATTACHED AND INCORPORATED AS
EXHIBIT "A," THAT COMPETITIVE NEGOTIATION METHODS AND
PROCEDURES ARE NOT PRACTICABLE OR ADVANTAGEOUS PURSUANT
TO SECTIONS 18-85 AND 18-86 OF THE CODE OF THE CITY OF MIAMI,
FLORIDA, AS AMENDED, ("CITY CODE") AS ADOPTED BY THE CRA; WAIVING
THE REQUIREMENTS FOR COMPETITIVE SEALED BIDDING AS NOT BEING
PRACTICABLE OR ADVANTAGEOUS TO THE CRA; AUTHORIZING THE
EXECUTIVE DIRECTOR TO NEGOTIATE AND EXECUTE A FIRST
AMENDMENT TO THE FORGIVABLE PROJECT LOAN AGREEMENT FOR 14TH
STREET DEVELOPMENT, A FIRST AMENDMENT TO THE ECONOMIC
INCENTIVE AGREEMENT FOR MIXED -USE AND MIXED -INCOME PROJECT, A
FIRST AMENDMENT TO THE DECLARATION OF RESTRICTIVE COVENANTS
FOR 14TH STREET DEVELOPMENT, LLC, A FIRST AMENDMENT TO THE
MORTGAGE AND SECURITY AGREEMENT FOR 14TH STREET
DEVELOPMENT, LLC, A FIRST AMENDMENT TO THE RENT REGULATORY
AGREEMENT FOR 14TH STREET DEVELOPMENT, A FIRST AMENDMENT TO
THE DISBURSEMENT AGREEMENT FOR 14TH STREET DEVELOPMENT, LLC,
AND A FIRST AMENDMENT TO THE PROMISSORY NOTE (CRA FUNDS) FOR
14TH STREET DEVELOPMENT, LLC, AND ALL OTHER NECESSARY
DOCUMENTS, ALL IN A FORM ACCEPTABLE TO THE GENERAL COUNSEL,
ALLOCATING ADDITIONAL GRANT FUNDS IN THE AMOUNT OF
$15,000,000.00 FOR A MIXED -USE DEVELOPMENT PROJECT OF
PROPERTIES LOCATED AT 1441, 1445, AND 1455 NORTH MIAMI AVENUE, 25
AND 31 NORTHEAST 14TH STREET, AND 1412, 1418, 1428, AND 1432
NORTHEAST MIAMI COURT, MIAMI, FLORIDA WITHIN THE CRA'S
REDEVELOPMENT AREA TO 14TH STREET DEVELOPMENT LLC, SUBJECT
TO THE EXTENSION OF LIFE OF THE CRA AND THE CRA BEING ABLE TO
SUCCESSFULLY SECURE FINANCING AND SUBJECT TO THE AVAILABILITY
OF FUNDS.
WHEREAS, the Omni Redevelopment District Community Redevelopment Agency
("CRA") is tasked with reducing slum and blight within its Redevelopment Area; and
WHEREAS, 14th Street Development LLC, a subsidiary of NR Investments, Inc., a for
profit entity ("Grantee"), submitted a request for grant funding to the CRA to develop a mixed -
use project consisting of ground floor retail, office space, and now approximately 398 income -
restricted housing units within the Redevelopment Area; and
City of Miami Page 1 of 3 File ID: 15520 (Revision:) Printed On: 9/12/2025
File ID: 15520 Enactment Number:
WHEREAS, CRA's Redevelopment Plan ("Plan") reaffirms the importance of the
development of affordable housing to the economic vitality of the CRA and identifies among its
community benefits priority for the "inclusion of an appropriate amount of below -market rate
units," specifically workforce housing units (at less than 140% AMI) and units for low-income
residents (less than 80% AMI); and
WHEREAS, through resolution CRA-R-21-0044 the Omni previously approved grant
funding in the amount of $15,000,000.00; and
WHEREAS, the Grantee proposed to complete a mixed -use development of properties
at 1441, 1445, and 1455 North Miami Avenue, 25 and 31 Northeast 14th Street, and 1412,
1418, 1428, and 1432 Northeast Miami Court, Miami, Florida within the CRA's Redevelopment
Area ("Project"); and
WHEREAS, the Grantee requests additional grant funding from the CRA for the Project
in the amount of $15,000,000.00 for a total amount not to exceed $30,000,000.00; and
WHEREAS, the additional grant funds will allow not just a portion but the entire 398 units
to be fully income restricted; and
WHEREAS, the success of the Project will result in accomplishing the stated objectives
of the Omni CRA Redevelopment Plan; and
WHEREAS, based on the recommendation and findings of the Executive Director
attached and incorporated as Exhibit "A," it is in the CRA's best interest to authorize, by an
affirmative four -fifths (4/5ths) vote, a waiver of competitive sealed bidding procedures pursuant
to Sections 18-85 and 18-86 of the Code of the City of Miami, Florida, as amended ("City
Code"), as adopted by the CRA, and to authorize the Executive Director to negotiate and
execute any and all agreements, all in forms acceptable to the General Counsel, with the
Grantee for the provision of grant funds for the development of the Project in the amount of
$15,000,000.00;
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 of the Resolution are
adopted by reference and incorporated as fully set forth in this Section.
Section 2. The Board of Commissioners, by a four -fifths (4/5ths) affirmative vote, after a
properly advertised public hearing, hereby waives competitive bidding procedures and ratifies,
approves, and confirms the Executive Director's findings and determinations in the Executive
Director's Memorandum, attached and incorporated as Exhibit "A," that competitive bidding is
not practicable or advantageous to the CRA.
Section 3. The Executive Director is authorized to negotiate and execute an agreement
and all supporting documents to provide the additional funding, all in forms acceptable to the
General Counsel, with the Grantee to provide assistance with a portion of the costs associated
with the Project in the amount of the additional $15,000,000.00 in the form of a forgivable loan,
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File ID: 15520 Enactment Number:
subject to a covenant being recorded on the property restricting the 398 unit rents until 2047,
subject to the CRA being able to secure financing, and subject to the availability of funds.
Section 4. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND CORRECTNESS:
City of Miami Page 3 of 3 File ID: 15520 (Revision:) Printed on: 9/12/2025