The URL can be used to link to this page

Home My WebLink AboutCRA-R-25-0077 MemorandumOMNI Board of Commissioners Meeting December 11, 2025 OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY INTER -OFFICE MEMORANDUM Board Chair Damian Pardo and Members of the CRA Board Tram. Carlos I. Suarez Executive Director Date: November 25, 2025 File: 18579 Subject: 4/5ths Bid Waiver - Grant Funding to Tracksland Holdings, LLC Enclosures: 18579 Exhibit A 18579 Backup_Proposal 18579 Backup_Project 18579 Notice to the Public BACKGROUND: The Omni Community Redevelopment Agency (Omni CRA) executes community redevelopment projects following the 2019 CRA Redevelopment Plan ("Plan"). The Agency will contribute to redeveloping 1348 NW 1st Avenue, Miami, Florida 33136, an existing eighteen -unit (18) residential building comprised of six (6) two -bedroom units and twelve (12) one -bedroom units, 6 restricted affordable housing projects. Following severe vandalism and a subsequent arson incident, the building now requires extensive interior rehabilitation. The damage includes the complete replacement of the plumbing, electrical, and mechanical systems. This redevelopment project is in accordance with the Omni CRA's 2019 Plan, where page 31 of the 2019 Redevelopment Plan states "housing affordability is one of the key programs for the CRA to undertake". The 2019 Redevelopment Plan specifically highlights the importance of addressing housing affordability. Florida Statute 163.350 enables the CRA to establish effective programs aimed at affordable housing and the revitalization of deteriorated properties. Collaboration with the Omni CRA will ensure high -quality standards and address community needs effectively. RECOMMENDATION: Based on the aforementioned background, the need for renovation, and community enhancement, it is recommended that the Board of Commissioners of the Omni Community Redevelopment Agency adopt the attached resolution. This resolution, approved by a four -fifths (4/5ths) affirmative vote, ratifies, confirms, and approves the Executive Director's finding that it is most beneficial for the Omni CRA to provide funding to Trackland holdings LLC for renovation and community enhancement. FUNDING: The funding will be a total amount not to exceed amount of $825,000.00. Contingent upon the issuance of the CRA's Tax Increment Revenue Bonds, Series 2026, is hereby approved. City of Miami Page 2 of 5 File ID: 18579 (Revision:) Printed On: 12/26/2025 -•••1111, Omni CRA City of Miami Legislation OMNI CRA Resolution CRA-R-25-0077 OMNI CRA 1401 N. Miami Avenue Miami, FL 33136 www.miamicra.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 "Property"), an existing eighteen -unit (18) residential building comprised of six (6) two -bedroom City of Miami Page 3 of 5 File ID: 18579 (Revision:) Printed On: 12/26/2025 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. 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. City of Miami Page 4 of 5 File ID: 18579 (Revision:) Printed On: 12/26/2025 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: 261.4 !1 . ORGE . WYSON III, ENERAL COUNSEL City of Miami Page 5 of 5 File ID: 18579 (Revision:) Printed On: 12/26/2025