HomeMy WebLinkAboutCRA-R-25-0077 Master ReportOmni
C R A
OMNI
Community Redevelopment Agency
Master Report
Enactment Number: CRA-R-25-0077
OMNI CRA
1401 N. Miami Avenue
Miami, FL 33136
http://miamicra.com
File Number: 18579 File Type: OMNI CRA
Resolution
Revision:
File Name: 4/5ths Bid Waiver - Grant Funding to Tracksland
Holdings, LLC
Requesting Dept: OMNI Community Redevelopment Agency
Status: ADOPTED
Controlling Body: OMNI Community
Redevelopment Agency
Introduced: 11/25/2025
Final Action Date: 12/11/2025
Title: 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.
Notes:
Links:
City of Miami Page 1 of 2 Printed on: 12/26/2025
:.
Omni
CRA
OMNI
Community Redevelopment Agency
Master Report
Enactment Number: CRA-R-25-0077
Attachments: 18579 Exhibit A (PDF)
18579 Backup_Proposal (PDF)
18579 Backup_Project (PDF)
18579 Notice to the Public (PDF)
History of Legislative File:
OMNI CRA
1401 N. Miami Avenue
Miami, FL 33136
http://miamicra.com
Revision: Acting Body:
Date:
Action:
Result:
Jesly De Los Santos
Domini J. Gibbs
George K. Wysong III
Carlos I. Suarez
OMNI Community
Redevelopment Agency
OMNI Community
Redevelopment Agency
City Clerk's Office
11/25/2025
11/26/2025
11/26/2025
12/1/2025
12/11/2025
12/11/2025
12/11/2025
Staff Review
ACA Review
Approved Form and
Correctness
Department Head Review
Meeting
ADOPTED
Rendered
Completed
Completed
Completed
Completed
Completed
Passed
Completed
City of Miami Page 2 of 2 Printed on: 12/26/2025