HomeMy WebLinkAboutCRA-R-25-0029 Exhibit AIsiaa Jones
Executive Director
Omni
C R A
INTER -OFFICE MEMORANDUM
TO: Board Chair Damian Pardo and DATE: June 12th, 2025
Members of the CRA Board
FROM: Isiaa Jones
Executive Director
SUBJECT: Grant to EWB Holdings, LLC for
Project located at 1433 and1435 NW 1st
Court
BACKGROUND:
This memorandum recommends the allocation of grant funds to EWB Holdings, LLC ("Grantee")
for a mixed -income development project at 1433 NW 1st Court, Miami, Florida and 1435 NW 1st
Court, Miami, Florida (the "Project"). This Project aligns with the CRA's core mission of revitalizing
designated areas and addressing the shortage of affordable housing within the Omni
Redevelopment District. The Project will transform currently vacant properties, directly
contributing to blight reduction and promoting economic growth. The grantee, Dr. Evalina
Bestman, has deep roots in Overtown and a distinguished career serving Miami's residents,
including founding the New Horizons Community Health Center and contributing to the Chapman
Partnership for the Homeless. Her lifelong commitment to community service and affordable
housing makes her uniquely suited to undertake this Project.
The Project will create 11 residential units with varying affordability levels, catering to extremely
low-income, low-income, moderate -income, and market -rate residents. This diverse mix of
housing options promotes an inclusive community and directly addresses the specific need for 2-
and 3-bedroom units in Overtown.
JUSTIFICATION:
The Board of Commissioners is urged to approve the resolution authorizing the Executive Director
to negotiate and execute an agreement with EWB Holdings, LLC, for the allocation of grant funds.
This Project directly addresses the CRA's goals of reducing blight and increasing affordable
housing options within the Omni Redevelopment District. The Grantee's proposed project offers
a mix of income levels, catering to a range of residents and promoting a diverse community. The
Project's location on vacant lots in Overtown is crucial for revitalization efforts and aligns with the
CRA's commitment to assisting residents and landowners in building out the neighborhood
without displacement. The CRA's determination that direct negotiation is the most advantageous
approach ensures efficient resource utilization to achieve redevelopment objectives. This Project
also benefits from its location within a federally designated Opportunity Zone, further enhancing
its financial feasibility.
FUNDING:
$2,976,798.00 allocated from OMNI CRA Reserve "Other Grant and Aids" Account Number
10040.920501.8830000.0000.00000.