HomeMy WebLinkAboutCRA-R-24-0049 MemorandumOMNI Board of Commissioners Meeting
July 25, 2024
OMNI REDEVELOPMENT DISTRICT
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
Board Chair Damian Pardo
and Members of the CRA Board
/(dyuLA
Isiaa Jones
Executive Director
Date: July 23, 2024
File: 16410
Subject: Establish Policy - 100% Area
Median Income ("AMI") -
Affordable/Workforce Housing
Projects
Enclosures:
BACKGROUND:
The attached resolution of the Board of Commissioners of the Omni Community Redevelopment
Agency ("Omni CRA") establishes the policy to prioritize funding for affordable/workforce
housing projects that are deem affordable to persons or families whose total household income
is at or below 100% of the "AMI".
This action pursues the objective of providing suitable housing for current and future residents,
particularly in the "Omni CRA" area.
JUSTIFICATION:
Based on the aforementioned background and the shortage of affordable and decent housing, it
is recommended that the Board of Commissioners of the Omni Community Redevelopment
Agency adopt the attached resolution.
Omni
C R A
City of Miami
Legislation
OMNI CRA Resolution
CRA-R-24-0049
OMNI CRA
1401 N. Miami Avenue
Miami, FL 33136
www.miamicra.com
File Number: 16410 Final Action Date:7/25/2024
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE OMNI
REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY ("CRA"),
ADOPTING AND ESTABLISHING A HOUSING AFFORDABILITY POLICY TO
ENSURE THAT ALL PROJECTS RECEIVING MORE THAN FIVE MILLION DOLLARS
($5,000,000.00) OF CRA FUNDING FOR HOUSING PRIORITIZE FUNDING FOR
AFFORDABLE AND/OR WORKFORCE HOUSING PROJECTS THAT ARE DEEMED
AFFORDABLE TO PERSONS OR FAMILIES WHOSE TOTAL HOUSEHOLD INCOME
IS AT OR BELOW 100% OF THE AREA MEDIAN INCOME ("AMI") FOR CRA
ASSISTED UNITS; FURTHER CONFIRMING THAT THE CRA SHALL NOT SEEK AN
A EXTENSION OF LIFE BEYOND JULY 7, 2047; AUTHORIZING THE EXECUTIVE
DIRECTOR TO IMPLEMENT SAID POLICY IN THE STANDARD OPERATING
PROCEDURES; FURTHER AUTHORIZING THE EXECUTIVE DIRECTOR TO
NEGOTIATE AND EXECUTE ANY AND ALL NECESSARY DOCUMENTS AND
AMENDMENTS THERETO, ALL IN FORMS ACCEPTABLE TO THE GENERAL
COUNSEL, FOR THE PURPOSES STATED HEREIN AND PROVIDING FOR AN
IMMEDIATE EFFECTIVE DATE.
WHEREAS, the Omni Redevelopment District Community Redevelopment Agency
("CRA") is tasked with the improvement of employment opportunities and upward job mobility;
and
WHEREAS, the CRA pursues the objective of providing suitable housing for current and
future residents, particularly in the CRA's area; and
WHEREAS, the 2019 Omni CRA Redevelopment Plan outlines in Section 2-9 that,
"affordable housing is a priority for the area"; and
WHEREAS, the sunset date of the CRA will be July 7th, 2047 and the CRA shall not
seek an extension of life beyond said date; and
WHEREAS, it is recommended that the CRA adopt and establish a policy that all
projects receiving more than Five Million Dollars ($5,000,000.00) prioritize funding for affordable
and/or workforce housing projects that are deemed affordable to persons or families whose total
household income is at or below 100% of the Area Median Income ("AMI"); and
WHEREAS, for CRA assisted units, at least fifty percent (50%) of the units will be
affordable housing for residents at or below sixty percent (60%) of the AMI, ten percent (10%) of
the units for residents between sixty percent (60%) of the AMI and eighty percent (80%) of the
AMI, ten percent (10%) of the units at any price; and
WHEREAS, the remaining units will be designated as workforce housing for residents
between sixty percent (60%) and one hundred percent (100%) of the AMI;
City of Miami Page 2 of 3 File ID: 16410 (Revision:) Printed On: 9/12/2025
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 CRA policy to prioritize funding for affordable/workforce housing projects
that are deemed affordable to persons or families whose total household income is at or below
one hundred percent (100%) of the AMI is hereby established as stated herein.
Section 3. The Executive Director is authorized to negotiate and execute any and all
documents necessary, all in forms acceptable to the General Counsel, for the purposes stated
herein.
Section 4. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND CORRECTNESS:
2ORGE . WYSON! III, ENERAL COUNSEL
City of Miami Page 3 of 3 File ID: 16410 (Revision:) Printed On: 9/12/2025