HomeMy WebLinkAboutCRA-R-25-0018 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 7, 2025
File: 17456
Subject: Wynwood Works Sublease
Agreement
Enclosures: 17456 Backup
17456 Sublease Term Sheet
BACKGROUND:
It is recommended that the Board of Commissioners ("Board") of the Omni Redevelopment
District Community Redevelopment Agency ("CRA") approve and adopt the attached Resolution
rescinding Resolution No. CRA-R-24-0047 and authorizing the Executive Director to negotiate
and execute all documents necessary to implement and enforce the Sublease Agreement
including but not limited to any amendments thereto, all in forms acceptable to the General
Counsel, for the purposes stated therein.
JUSTIFICATION:
The CRA is tasked with reducing slum and blight within its boundaries. The Executive Director
seeks authorization for the negotiation and execution of the sublease agreement for a period not
to exceed seventy-two (72) months, by and between the CRA and Wynwood Works Manager,
LLC, a Florida Limited Liability Company for the property located at 2037 North Miami Avenue,
Miami, FL 33127, also referred to as "Wynwood Works" ("Property") located within the CRA
redevelopment area, for Five Thousand One Hundred Fifty Three (5,153) square feet of
rentable and/or commercial space. The CRA desires to allocate an amount not to exceed Two
Hundred Fifty Thousand Dollars annually, plus an increase of Three Percent (3%) every year for
the term of the sublease. The CRA has the flexibility to use the space exclusively or sublease it
at below -market rate as an economic incentive to attract new businesses within the
redevelopment area.
The adoption of this Resolution is consistent with the CRA's 2019 redevelopment plan.
FUNDING:
$250,000.00 allocated from the CRA Fiscal Year Budget 2024-2025.
City of Miami Page 2 of 4 File ID: 17456 (Revision:) Printed On: 9/15/2025
Omni
C R A
City of Miami
Legislation
OMNI CRA Resolution
CRA-R-25-0018
OMNI CRA
1401 N. Miami Avenue
Miami, FL 33136
www.miamicra.com
File Number: 17456 Final Action Date:4/10/2025
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE OMNI
REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY ("CRA"),)
RESCINDING RESOLUTION NO. CRA-R-24-0047, IN ITS ENTIRETY; AUTHORIZING
THE EXECUTIVE DIRECTOR TO NEGOTIATE AND EXECUTE A SUBLEASE
AGREEMENT BETWEEN THE CRA AND WYNWOOD WORKS MANAGER, LLC, A
FLORIDA LIMITED LIABILITY COMPANY, FOR A PERIOD NOT TO EXCEED
SEVENTY-TWO (72) MONTHS ("AGREEMENT"); ALLOCATING FUNDS FROM THE
CRA'S FISCAL YEAR 2024 — 2025 BUDGET IN AN AMOUNT NOT TO EXCEED TWO
HUNDRED FIFTY THOUSAND DOLLARS ($250,000.00) ANNUALLY, PLUS AN
INCREASE OF THREE PERCENT (3%) EVERY YEAR FOR THE TERM OF THE
AGREEMENT, FOR FIVE THOUSAND ONE HUNDRED FIFTY-THREE (5,153)
SQUARE FEET OF RENTABLE RETAIL AND/OR COMMERCIAL SPACE LOCATED
AT 2037 NORTH MIAMI AVENUE, MIAMI, FLORIDA 33127 ("PROPERTY") ALSO
REFERRED TO AS "WYNWOOD WORKS", LOCATED WITHIN THE CRA
REDEVELOPMENT AREA; FURTHER AUTHORIZING THE EXECUTIVE DIRECTOR
TO DISBURSE FUNDS IN ACCORDANCE WITH THE TERMS OF THE AGREEMENT,
SUBJECT TO THE AVAILABILITY OF FUNDS; FURTHER AUTHORIZING THE
EXECUTIVE DIRECTOR TO NEGOTIATE AND EXECUTE ANY AND ALL
DOCUMENTS NECESSARY TO IMPLEMENT AND ENFORCE THE AGREEMENT,
INCLUDING BUT NOT LIMITED TO ANY AND ALL AMENDMENTS THERETO, ALL
IN FORMS ACCEPTABLE TO THE GENERAL COUNSEL, FOR THE PURPOSES
STATED HEREIN AND PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the Omni Redevelopment District Community Redevelopment Agency
("CRA") is tasked with reducing slum and blight within its boundaries; and
WHEREAS, the Executive Director seeks authorization for the negotiation and execution
of the sublease agreement between the CRA and Wynwood Works Manager, LLC, a Florida
Limited Liability Company, for a period not to exceed seventy-two (72) months ("Agreement"),
for the property located at 2037 North Miami Avenue, Miami, FL 33127, also referred to as
"Wynwood Works" ("Property") located within the CRA redevelopment area, for five thousand
one hundred fifty three (5,153) square feet of rentable and/or commercial space; and
WHEREAS, the CRA desires to allocate an amount not to exceed Two Hundred Fifty
Thousand Dollars ($250,000.00) annually, plus an increase of three percent (3%) every year for
the term of the Agreement; and
WHEREAS, the CRA has the flexibility to use the space exclusively or sublease it below
market rate as an economic incentive to attract new businesses within the redevelopment area;
and
City of Miami Page 3 of 4 File ID: 17456 (Revision:) Printed On: 9/15/2025
WHEREAS, adoption of this Resolution is consistent with the CRA's 2019
redevelopment plan;
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. Resolution No. CRA-R-24-0047, adopted on July 25, 2024, is hereby
rescinded in its entirety.
Section 3. The Executive Director is hereby authorized to negotiate and execute the
Agreement between the CRA and Wynwood Works Manager, LLC for the purpose stated
herein.
Section 4. The Executive Director is authorized to allocate funds to Wynwood Works
Manager, LLC in an amount not to exceed Two Hundred Fifty Thousand Dollars ($250,000.00)
annually, with an annual increase of three percent (3%) for the term of the Agreement, from the
CRA Fiscal Year 2054 - 2025 budget, subject to the availability of funding, for the purpose stated
herein.
Section 4. The Executive Director is authorized to negotiate and execute all documents
necessary to implement and enforce the Agreement, including but not limited to any
amendments to the Agreement, all in forms acceptable to the General Counsel, for the purposes
stated herein.
Section 6. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND CORRECTNESS:
OEORGE ° . WYSON III. ENERAL COUNSEL
City of Miami Page 4 of 4 File ID: 17456 (Revision:) Printed On: 9/15/2025