HomeMy WebLinkAboutCRA-R-24-0039 MemorandumOMNI Board of Commissioners Meeting
June 18, 2024
OMNI REDEVELOPMENT DISTRICT
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
Board Chair Damian Pardo
and Members of the CRA Board
Isiaa Jones
Executive Director
Date: June 13, 2024
File: 16182
Subject: Purchase of Property located at
41 NW 20th Street
Enclosures: 16182 Property Search
16182 Backup
16182 Property Appraisals
BACKGROUND:
The Omni Community Redevelopment Agency ("Omni CRA") is responsible for executing
community redevelopment initiatives and projects within its designated area in accordance with
the 2019 CRA Redevelopment Plan ("Plan").
Big Big Canasta LLC and 17 East Mr. P LLC ("Seller") owns the property located at 41 NW 20th
St., Miami, Florida 33127, which falls within the Omni CRA's jurisdiction. The property has a
total area of 15,600 square feet. The Omni CRA is interested in purchasing this property from
Seller to develop it for a mixed -use affordable housing project, in line with the goals of the 2019
Redevelopment Plan.
RECOMMENDATION:
Based on the aforementioned background, the need for renovation, and community
enhancement, it is recommended that the Board of Commissioners of the Omni Community
Redevelopment Agency adopt the attached resolution. This resolution, ratifies, confirms, and
approves the Executive Director's finding that it is most beneficial for the CRA to acquire the
property for development in accordance with the Redevelopment Plan.
FUNDING:
$6,374,500.00 has been allocated from the Omni Tax Increment Fund, Account No.
10040.920501.662000.0000.00000 — OMNI Land.
Omni
C R A
City of Miami
Legislation
OMNI CRA Resolution
CRA-R-24-0039
OMNI CRA
1401 N. Miami Avenue
Miami, FL 33136
www.miamicra.com
File Number: 16182 Final Action Date:6/18/2024
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE OMNI
REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY ("CRA")
AUTHORIZING THE EXECUTIVE DIRECTOR TO EXECUTE A PURCHASE AND
SALE AGREEMENT ("AGREEMENT"), IN A FORM ACCEPTABLE TO THE GENERAL
COUNSEL, BETWEEN THE CRA AND BIG BIG CANASTA LLC, AND 17 EAST MR. P,
LLC ("SELLER") FOR THE ACQUISITION OF REAL PROPERTY LOCATED AT 41 NW
20TH ST., MIAMI, FLORIDA 33127, CONTAINING AN APPROXIMATE TOTAL LOT
AREA OF 15,600 SQUARE FEET ("PROPERTY") FOR A TOTAL PURCHASE PRICE
NOT TO EXCEED FIVE MILLION SEVEN HUNDRED AND NINETY FIVE THOUSAND
DOLLARS ($5,795,000.00); FURTHER AUTHORIZING THE EXECUTIVE DIRECTOR
TO NEGOTIATE AND EXECUTE ANY AND ALL NECESSARY DOCUMENTS,
INCLUDING ANY AMENDMENTS AND MODIFICATIONS TO SAID AGREEMENT, IN
A FORM ACCEPTABLE TO THE GENERAL COUNSEL, THAT MAY BE NECESSARY
TO EFFECTUATE SAID ACQUISITION; ALLOCATING FUNDS FROM ACCOUNT NO.
10040.920501.662000.0000.00000 IN A TOTAL AMOUNT NOT TO EXCEED SIX
MILLION THREE HUNDRED SEVENTY-FOUR THOUSAND FIVE HUNDRED
DOLLARS ($6,374,500.00) INCLUSIVE OF SAID ACQUISITION COST, THE COST OF
A SURVEY, ENVIRONMENTAL REPORT, TITLE INSURANCE, AND RELATED
CLOSING COSTS ASSOCIATED WITH SAID ACQUISITION, ALL IN ACCORDANCE
WITH THE TERMS AND CONDITIONS OF THE AGREEMENT; FURTHER
AUTHORIZING GENERAL COUNSEL TO ENGAGE OUTSIDE COUNSEL FOR THE
PURPOSES OF THE CLOSING AND PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the Omni Redevelopment District Community Redevelopment Agency
("CRA") wishes to acquire the real property located at 41 NW 20 St., Miami, Florida 33127
containing an approximate total lot area of 15,600 square feet ("Property") from Big Big Canasta
LLC and 17 East Mr. P LLC ("Seller"); and
WHEREAS, the CRA plans to develop the Property for affordable housing to enhance
the quality of life in the surrounding area and address slum and blight in accordance with the
CRA's Redevelopment Plan; and
WHEREAS, the CRA's estimated total cost for the acquisition of the Property will not
exceed Six Million Three Hundred Seventy -Four Thousand Five Hundred Dollars
($6,374,500.00) which includes the cost of acquisition, the cost of a survey, environmental
report, title insurance, and related closing costs associated with said acquisition; and
WHEREAS, funds are to be allocated from Account No.
10040.920501.662000.0000.00000;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY:
City of Miami Page 2 of 3 File ID: 16182 (Revision:) Printed On: 9/12/2025
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 Executive Director is authorized to execute a Purchase and Sale
Agreement ("Agreement"), in a form acceptable to the General Counsel, between the CRA and
the Seller for the acquisition of the Property for a total purchase price not to exceed Five Million
Seven Hundred Ninety -Five Thousand Dollars ($5,795,000.00) contingent upon the CRA
obtaining a written appraisal from a licensed Florida appraiser stating that the appraised value
of the Property is at a minimum the referenced amount herein.
Section 3. The Executive Director is further authorized to negotiate and execute any and
all necessary documents, including any amendments and modifications to said Agreement, in a
form acceptable to the General Counsel, as may be necessary to effectuate said acquisition,
with funds allocated from 10040.920501.662000.0000.00000, in a total amount not to exceed
Six Million Three Hundred Seventy -Four Thousand Five Hundred Dollars ($6,374,500.00), to
cover the cost of said acquisition, inclusive of the cost of a survey, environmental report, title
insurance, and related closing costs associated with said acquisition.
Section 4. The General Counsel is authorized to engage outside counsel for the purpose
of the closing of said transaction.
Section 5. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND CORRECTNESS:
2a4A
ORGE . WYSON III. ENERAL COUNSEL
City of Miami Page 3 of 3 File ID: 16182 (Revision:) Printed On: 9/12/2025