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OMNI
Community Redevelopment Agency
Legislation
OMNI CRA Resolution: CRA-R-25-0077
OMNI CRA
1401 N. Miami Avenue
Miami, FL 33136
www.omnicra.com
File Number: 18579 Final Action Date:12/11/2025
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE OMNI REDEVELOPMENT
DISTRICT COMMUNITY REDEVELOPMENT AGENCY ("CRA"), WITH ATTACHMENT(S), BY
A FOUR -FIFTHS (4/STHS) 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 TO THE CRA 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; ALLOCATING GRANT FUNDS
FROM THE CRA'S FISCAL YEAR 2025-2026 BUDGET IN AN AMOUNT NOT TO EXCEED
EIGHT HUNDRED TWENTY-FIVE THOUSAND AND 00/100 DOLLARS ($825,000.00) TO
TRACKSLAND HOLDINGS LLC, A FLORIDA LIMITED LIABILITY COMPANY ("GRANTEE")
FOR AN AFFORDABLE HOUSING REDEVELOPMENT PROJECT, CONTINGENT UPON THE
ISSUANCE OF THE CRA'S TAX INCREMENT REVENUE BONDS, SERIES 2026,
CONSISTING OF EIGHTEEN (18) TOTAL RESIDENTIAL UNITS, INCLUDING SIX (6) TWO -
BEDROOM UNITS AND TWELVE (12) ONE -BEDROOM UNITS, OF WHICH SIX (6) UNITS
WILL BE RESTRICTED AT EIGHTY PERCENT (80%) AREA MEDIAN INCOME ("AMI"), AT
THE PROPERTY LOCATED AT 1348 NORTH WEST 1ST AVENUE, MIAMI, FLORIDA 33136,
WITHIN THE CRA REDEVELOPMENT AREA ("PROJECT"); AUTHORIZING THE EXECUTIVE
DIRECTOR TO DISBURSE FUNDS IN HIS DISCRETION, UPON THE PRESENTATION OF
INVOICES, SUBJECT TO THE AVAILABILITY OF FUNDING; FURTHER AUTHORIZING THE
EXECUTIVE DIRECTOR TO NEGOTIATE AND EXECUTE A FORGIVEABLE LOAN
AGREEMENT, RESTRICTIVE COVENANT, AND ANY ADDITIONAL NECESSARY
DOCUMENTS, BETWEEN THE CRA AND GRANTEE FOR THE PROJECT, INCLUDING ANY
MODIFICATIONS OR AMENDMENTS, ALL IN FORMS ACCEPTABLE TO THE GENERAL
COUNSEL, FOR THE PURPOSES STATED HEREIN; ALL BEING SUBJECT TO THE
AVAILABILITY OF FUNDING AND THE RENTS BEING RESTRICTED FOR TWENTY-FIVE
(25) YEARS AS MORE PARTICULARLY DETAILED IN THE RESTRICTIVE COVENANT TO
BE RECORDED IN THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA;
PROVIDING FOR THE INCORPORATION OF RECITALS AND AN EFFECTIVE DATE.
WHEREAS, the Omni Redevelopment District Community Redevelopment Agency
("CRA") is tasked with reducing slum and blight within its boundaries; and
WHEREAS, Tracksland Holdings LLC, a Florida Limited Liability Company ("Grantee"),
is the owner of the property located at 1348 North West 1st Avenue, Miami, Florida 33136 (the
City of Miami Page 1 of 3 File ID: 18579 (Revision:) Printed On: 12/26/2025
File ID: 18579 Enactment Number: CRA-R-25-0077
"Property"), an existing eighteen -unit (18) residential building comprised of six (6) two -bedroom
units and twelve (12) one -bedroom units located adjacent to the Interstate-395 overpass and
the future "Underdeck" redevelopment project; and
WHEREAS, at the time of acquisition, the Property was occupied by non-paying
squatters and required full rehabilitation, and during construction, the Property experienced
significant vandalism, followed shortly thereafter by an act of arson that caused additional
damage and required the re -filing of plans with the City of Miami; and
WHEREAS, the Grantee has submitted a request to the CRA for assistance with the
rehabilitation to the Property and has committed to restricting six (6) of the eighteen (18) units,
three (3) one -bedroom units and three (3) two -bedroom units at eighty percent (80%) of Area
Median Income ("AMI"), as published annual by the United States Department of Housing and
Urban Development, for a period of twenty-five (25) years ("Project"); and
WHEREAS, the 2019 Redevelopment Plan ("Plan") on pages 4-32, lists the objective "to
find ways to ensure housing remains affordable for all income levels within the district, but
particularly for those households meeting workforce or lower -income guidelines," and supports
programs that "assist housing providers in creating affordable units for target households"; and
WHEREAS, the Project advances these objectives by providing long-term affordable
housing in an area experiencing significant redevelopment activity near Downtown Miami and
the Underdeck; and
WHEREAS, the rehabilitation of this blighted property will reduce crime, homelessness,
and unsafe conditions and support the CRA's mission of neighborhood revitalization; and
WHEREAS, the CRA desires to provide financial assistance to the Grantee in an amount
not to exceed Eight Hundred Twenty -Five Thousand and 00/100 Dollars ($825,000.00) ("Grant
Funds") to support completion of the Project, Contingent upon the issuance of the CRA's Tax
Increment Revenue Bonds, Series 2026; and
WHEREAS, based on the recommendation and finding of the Executive Director,
attached and incorporated as Exhibit "A," it is in the CRA's best interest to authorize, by an
affirmative four -fifths (4/5ths) vote, a waiver of competitive sealed bidding procedures pursuant
to Sections 18-85 and 18-86 of the Code of the City of Miami, Florida, as amended ("City
Code"), as adopted by the CRA, for the allocation of Grant Funds for the Project to be disbursed
at the Executive Director's discretion, upon the presentation of invoices, subject to the
availability of funding;
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.
City of Miami Page 2 of 3 File ID: 18579 (Revision:) Printed on: 12/26/2025
File ID: 18579 Enactment Number: CRA-R-25-0077
SECTION 2. By a four -fifths (4/5ths) affirmative vote, after an advertised public hearing,
the Executive Director's recommendation and written finding, attached and incorporated as
Exhibit "A," are ratified, approved, and confirmed, and the requirements for competitive sealed
bidding are waived.
SECTION 3. The Executive Director is authorized to allocate Grant funds in an amount
not to exceed eight hundred twenty-five thousand dollars ($825,000.00) for the Project, upon the
presentation of invoices, subject to the availability of funding, from the CRA's Fiscal Year 2025-
2026 budget for the redevelopment of the Property.
SECTION 4. The Executive Director is authorized to negotiate and execute a forgivable
loan agreement, restrictive covenant, including any and all additional documents and
amendments necessary, all in a form acceptable to the General Counsel, for a period of twenty-
five (25) years, to be recorded in the public records of Miami -Dade County, Florida. Contingent
upon the issuance of the CRA's Tax Increment Revenue Bonds, Series 2026.
SECTION 5. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND CORRECTNESS:
ge Wy j ng III, C y ttor' -y 11/26/2025
City of Miami Page 3 of 3 File ID: 18579 (Revision:) Printed on: 12/26/2025