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Home My WebLink AboutCRA-R-25-0029 MemorandumOMNI Board of Commissioners Meeting June 26, 2025 OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY INTER -OFFICE MEMORANDUM Board Chair Damian Pardo and Members of the CRA Board 5 Isiaa Jones Executive Director Date: June 26, 2025 File: 16969 Subject: Grant to EWB Holdings, LLC for Project located at 1433 and 1435 NW 1st Court Enclosures: 16969 Exhibit A 16969 Proposal 16969 Notice to the Public 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. City of Miami Page 2 of 5 File ID: 16969 (Revision:) Printed On: 9/16/2025 Omni C R A City of Miami Legislation OMNI CRA Resolution CRA-R-25-0029 OMNI CRA 1401 N. Miami Avenue Miami, FL 33136 www.miamicra.com File Number: 16969 Final Action Date:6/26/2025 A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY ("CRA"), WITH ATTACHMENT(S), BY A FOUR -FIFTHS (4/5THS) AFFIRMATIVE VOTE, AFTER AN ADVERTISED PUBLIC HEARING, RATIFYING, APPROVING, AND CONFIRMING THE EXECUTIVE DIRECTOR'S RECOMMENDATION AND FINDING, ATTACHED AND INCORPORATED AS EXHIBIT "A" THAT COMPETITIVE NEGOTIATION METHODS AND PROCEDURES ARE NOT PRACTICABLE OR ADVANTAGEOUS PURSUANT TO SECTIONS 18-85 AND 18-86 OF THE CODE OF THE CITY OF MIAMI, FLORIDA, AS AMENDED, AS ADOPTED BY THE CRA; WAIVING THE REQUIREMENTS FOR COMPETITIVE SEALED BIDDING AS NOT BEING PRACTICABLE OR ADVANTAGEOUS TO THE CRA; AUTHORIZING THE EXECUTIVE DIRECTOR TO NEGOTIATE AND EXECUTE AN AGREEMENT, WITH SUPPORTING DOCUMENTS BETWEEN THE CRA AND EWB HOLDINGS, LLC, A FLORIDA LIMITED LIABILITY COMPANY FOR A MIXED -INCOME DEVELOPMENT PROJECT ("PROJECT") OF THE PROPERTIES LOCATED AT 1433 NORTH WEST 1ST COURT, MIAMI, FLORIDA AND 1435 NORTH WEST 1ST COURT, MIAMI, FLORIDA WITHIN THE CRA'S REDEVELOPMENT AREA; FURTHER AUTHORIZING THE ALLOCATION OF FUNDS IN AN AMOUNT NOT TO EXCEED TWO MILLION NINE HUNDRED SEVENTY-SIX THOUSAND SEVEN HUNDRED NINETY-EIGHT DOLLARS ($2,976,798.00) FOR THE PROJECT; FURTHER AUTHORIZING THE EXECUTIVE DIRECTOR TO EXECUTE ANY AND ALL DOCUMENTS NECESSARY, ALL IN FORMS ACCEPTABLE TO THE GENERAL COUNSEL, FOR THE PURPOSE STATED HEREIN, ALL BEING SUBJECT TO THE AVAILABILITY OF FUNDING AND THE RENTS BEING RESTRICTED FOR THIRTY (30) YEARS AS MORE PARTICULARLY DETAILED IN A RESTRICTIVE COVENANT TO BE RECORDED IN THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA, 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, EWB Holdings, LLC., a Florida Limited Liability Company ("Grantee") owns the vacant properties located at 1433 North West 1st Court, Miami, Florida and 1435 North West 1st Court, Miami, Florida, identified by folio numbers 01-3125-048-1730 and 01-3125-048- 1740 ("Property"), which are within the CRA's redevelopment area; and WHEREAS, Grantee submitted a request for grant funding to develop an 11-unit, neighborhood -oriented, mixed -income affordable housing project at the aforementioned Property ("Project"); and City of Miami Page 3 of 5 File ID: 16969 (Revision:) Printed On: 9/16/2025 WHEREAS, the Project is designed to meet the affordable housing goals outlined in CRA Resolution No. CRA-R-24-0049, with two (2) units affordable to Extremely Low -Income tenants at thirty percent (30%) Area Medium Income ("AMI"), three (3) units affordable to Low - Income residents at sixty percent (60%) AMI, three (3) units affordable to Moderate -Income residents between sixty percent to eighty percent (60%-80%) AMI, two (2) units affordable to Moderate -Income residents between eighty percent to one hundred percent (80%-100%) AMI, and one (1) unit at market rate, currently estimated to align with approximately seventy percent (70%) AMI for new units in the Overtown area of the CRA boundaries; and WHEREAS, the CRA's 2019 Redevelopment Plan ("Plan"), at page 4-22, highlights the importance of affordable housing for economic vitality in the area by encouraging community benefits that prioritize below -market -rate units, especially those affordable to low-income residents (less than eighty percent (80%) AMI); and WHEREAS, the Plan, at page 4-33, also provides for financial support to for -profit housing providers in the form of direct grants or rebates if affordable units are included in projects; and WHEREAS, the CRA has identified this Project as essential for providing affordable housing options and reducing blight in the neighborhood, consistent with the CRA's Redevelopment Plan objectives; and WHEREAS, the total development costs for the Project are estimated to be Three Million Three Hundred Eighty Thousand Four Hundred Ninety -Eight Dollars ($3,380,498.00) and the Grantee seeks CRA assistance in the form of grant funding in the amount of Two Million Nine Hundred Seventy -Six Thousand Seven Hundred Ninety -Eight Dollars ($2,976,798.00) to assist with a portion of these costs; and WHEREAS, based on the Executive Director's recommendation and finding, attached and incorporated as Exhibit "A," it is in the CRA's best interest to waive competitive sealed bidding procedures, as authorized by Sections 18-85 and 18-86 of the Code of the City of Miami, Florida, as amended ("City Code"), as adopted by the CRA, and to authorize the Executive Director to negotiate and execute an agreement with the Grantee for the provision of grant funds to support the Project; 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 this Resolution are adopted by reference and incorporated as if fully set forth herein. Section 2. By a four -fifths (4/5ths) affirmative vote, after an advertised public hearing, the Executive Director's recommendation and finding, attached and incorporated as Exhibit "A," are hereby ratified, approved, and confirmed, and the requirements for competitive sealed bidding methods are waived, as authorized pursuant to Sections 18-85 and 18-86 of the City Code, as adopted by the CRA, as not being practicable or advantageous to the CRA. Section 3. Grant funds in an amount not to exceed Two Million Nine Hundred Seventy - Six Thousand Seven Hundred Ninety -Eight Dollars ($2,976,798.00) for the Project are allocated, subject to the availability of funding, from CRA's Fiscal Year 2024-2025 budget, to fund the costs as requested by Grantee for the Project at the Property. City of Miami Page 4 of 5 File ID: 16969 (Revision:) Printed On: 9/16/2025 Section 4. The Executive Director is authorized to negotiate and execute an agreement between the CRA and Grantee for the Project, including any and all necessary documents and amendments, all in forms acceptable to the General Counsel, for the purposes stated herein, including but not limited to a restrictive covenant detailing rent maximums per unit for a period of Thirty (30) years, which is to be recorded in the public records of Miami -Dade County, Florida. Section 5. This Resolution shall become effective immediately upon its adoption. APPROVED AS TO FORM AND CORRECTNESS: X' ORGE . 26C-WYSON III, ENERAL COUNSEL City of Miami Page 5 of 5 File ID: 16969 (Revision:) Printed On: 9/16/2025