HomeMy WebLinkAboutCRA-R-25-0017 MemorandumOMNI Board of Commissioners Meeting
April 10, 2025
OMNI REDEVELOPMENT DISTRICT
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
Board Chair Damian Pardo
and Members of the CRA Board
Isiaa Jones
Executive Director
Date: April 9, 2025
File: 17464
Subject: Direction to the Executive
Director - OMNI Budget
Enclosures: 17464 Exhibit A
17464 Backup
BACKGROUND:
A Resolution of the Board of Commissioners ("Board") of the Omni Community Redevelopment
Agency ("CRA") directing the Executive Director to designate an amount not to exceed Two
Million Five Hundred Thousand Dollars ($2,500,000.00) from the 2024-2025 fiscal years reserve
account, pursuant to Section 163.387(7)(a), Florida Statutes (F.S.), for the funds to be returned
to the taxing authority which paid the increment.
JUSTIFICATION:
The CRA is responsible for carrying out community redevelopment activities and projects within
the Omni Redevelopment Area ("Area") in accordance with the 2019 CRA Redevelopment Plan
("Plan"). Section 163.387(7)(a), F.S., provides that, on the last day of the fiscal year, any money
which remains in the trust fund after the payment of expenses pursuant to Section 163.387(6),
F.S. for such year shall be returned to each taxing authority that paid the increment in proportion
to the amount contributed by each taxing authority.
The CRA identified Six Million, Seven Hundred Fifty Thousand, Four Hundred Eighty -Five and
00/100 Dollars ($6,750,485.00) in its 2024-2025 Fiscal Year, attached and incorporated herein
as (Exhibit "A") ("FY 2025") Budget reserve account. In December 2024 the CRA entered into a
settlement agreement, pursuant to CRA Resolution CRA-R-24-0069, to prevent litigation that
reduced the FY 2025 Budget reserve amount by Two Million, One Hundred Thousand Dollars
and 00/100 ($2,100,000.00). Based on the December 2024 settlement agreement, the current
amount in the FY 2025 Budget reserve is now Four Million, Six Hundred Fifty Thousand, Four
Hundred Eighty -Five Dollars and 00/100 ($4,650,485.00).
Pursuant to Section 163.387(7)(a), F.S., the Executive Director is directed to designate an
amount not to exceed Two Million, Five Hundred Thousand and 00/100 Dollars ($2,500,000.00)
("Funds") from the reserve account to be returned to each taxing authority which paid the
increment into the Trust Fund. The return of the Funds shall be in accordance with laws of the
State of Florida and reflect the CRA's continued commitment to transparency and financial
responsibility.
The Board of Commissioners finds that the adoption of this Resolution is in further compliance
with statutory requirements, serves public purpose, and upholds the fiduciary duties of the CRA.
FUNDING:
FY 2025 Budget Reserve.
City of Miami Page 2 of 4 File ID: 17464 (Revision:) Printed On: 9/15/2025
Omni
C R A
City of Miami
Legislation
OMNI CRA Resolution
CRA-R-25-0017
OMNI CRA
1401 N. Miami Avenue
Miami, FL 33136
www.miamicra.com
File Number: 17464 Final Action Date:4/10/2025
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE OMNI
REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY ("CRA"),
WITH ATTACHMENT(S), DIRECTING THE EXECUTIVE DIRECTOR TO DESIGNATE
AN AMOUNT NOT TO EXCEED TWO MILLION, FIVE HUNDRED THOUSAND AND
00/100 DOLLARS ($2,500,000.00) ("FUNDS") FROM THE 2024-2025 FISCAL YEAR
("FY 2025") RESERVE ACCOUNT, PURSUANT TO SECTION 163.387(7)(A),
FLORIDA STATUTES, FOR THE FUNDS TO BE RETURNED TO EACH TAXING
AUTHORITY WHICH PAID THE INCREMENT; FURTHER AUTHORIZING THE
EXECUTIVE DIRECTOR TO NEGOTIATE AND EXECUTE ALL DOCUMENTS
NECESSARY, ALL IN FORMS ACCEPTABLE TO THE GENERAL COUNSEL, FOR
THE PURPOSE STATED HEREIN; PROVIDING FOR THE INCORPORATION OF
RECITALS AND AN EFFECTIVE DATE.
WHEREAS, the Omni Redevelopment District Community Redevelopment Agency
("CRA") is responsible for carrying out community redevelopment activities and projects within
the Omni Redevelopment Area ("Area") in accordance with the 2019 Omni CRA Redevelopment
Plan ("Plan"); and
WHEREAS, Section 163.387(7)(a), Florida Statutes (F.S.) provides that, on the last day
of the fiscal year, any money which remains in the trust fund after the payment of expenses
pursuant to Section 163.387(6), F.S. for such year shall be returned to each taxing authority that
paid the increment in proportion to the amount contributed by each taxing authority; and
WHEREAS, the CRA identified Six Million, Seven Hundred Fifty Thousand, Four
Hundred Eighty -Five and 00/100 Dollars ($6,750,485.00) in its 2024-2025 Fiscal Year, attached
and incorporated herein as (Exhibit "A") ("FY 2025") Budget reserve account; and
WHEREAS, in December 2024 the CRA entered into a settlement agreement, pursuant
to CRA Resolution CRA-R-24-0069, to prevent litigation that reduced the FY 2025 Budget
reserve amount by Two Million, One Hundred Thousand Dollars and 00/100 ($2,100,000.00);
and
WHEREAS, based on the December 2024 settlement agreement the current amount in
the FY 2025 Budget reserve is now Four Million, Six Hundred Fifty Thousand, Four Hundred
Eighty -Five Dollars and 00/100 ($4,650,485.00); and
WHEREAS, pursuant to Section 163.387(7)(a), F.S., the Executive Director is directed to
designate an amount not to exceed Two Million, Five Hundred Thousand and 00/100 Dollars
($2,500,000.00) ("Funds") from the reserve account to be returned to each taxing authority
which paid the increment into the Trust Fund; and
City of Miami Page 3 of 4 File ID: 17464 (Revision:) Printed On: 9/15/2025
WHEREAS, the return of the Funds shall be in accordance with laws of the State of
Florida and reflect the CRA's continued commitment to transparency and financial responsibility;
and
WHEREAS, the Board of Commissioners finds that the adoption of this Resolution is in
further compliance with statutory requirements, serves public purpose, and upholds the fiduciary
duties of the CRA.
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 to this Resolution are
adopted by reference and incorporated herein as if fully set forth in this Section.
Section 2. The Executive Director is hereby directed to designate Funds, pursuant to
Section 163.387(7)(a), F.S., from the FY 2025 Reserve Account, which shall be returned to each
taxing authority which paid the increment in the proportion that the amount of the payment of
such taxing authority bears to the total amount paid into the Trust Fund.
Section 3. The Executive Director is hereby authorized to negotiate and execute all
documents necessary, all in forms acceptable to the General Counsel, for the purpose stated
herein.
Section 4. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND CORRECTNESS:
ORGE . WYSON III, .IENERAL COUNSEL
City of Miami Page 4 of 4 File ID: 17464 (Revision:) Printed On: 9/15/2025