HomeMy WebLinkAboutCRA-R-26-0006 Exhibit ADamian Pardo
Board Chair
Omni
C R A
INTER -OFFICE MEMORANDUM
Carlos Suarez
Executive Director
TO: Board Chair Damian Pardo
and Members of the CRA Board
FROM: Carlos Suarez
Executive Director
DATE: February 12, 2026
SUBJECT: 4/5ths Bid Waiver Grant for
Additional Funding Request —
2003 N. Miami Avenue Project
BACKGROUND:
This memorandum recommends that the Board of Commissioners of the Omni Community
Redevelopment Agency ("CRA") adopt a Resolution, by a four -fifths (4/5ths) vote following an
advertised public hearing, to approve the Executive Director's recommendation. The Board is
asked to find that competitive negotiation is not practicable or advantageous under Sections 18-
85 and 18-86 of the City of Miami Code, waive competitive sealed bidding, and authorize the
Executive Director to amend the existing grant agreement to allocate additional funding in an
amount not to exceed Two Million Dollars ($2,000,000.00) in additional funding for the mixed -
use affordable housing project at 2003 North Miami Avenue, Miami, Florida 33127 ("Project").
The Project includes ground -floor commercial space and ten (10) residential units, eight (8) at
80% of Area Median Income ("AMI") and two (2) at 100% AMI. The affordability period will be
extended to fifty (50) years, starting at the issuance of the Temporary or final Certificate of
Occupancy, whichever comes first.
Subsequent to the CRA's initial grant award, the Grantee has experienced unforeseen and
unanticipated project costs, primarily attributable to additional requirements imposed by the City
of Miami to bring the property into full code compliance, including life safety, structural, and
building systems upgrades. These circumstances have created a funding gap that necessitates
additional CRA assistance in order to complete the Project as previously approved.
This Project aligns with the 2019 Redevelopment Plan, supports the rehabilitation of a blighted
mixed -use property, and ensures long-term housing affordability in the redevelopment area.
RECOMMENDATION:
Based on the foregoing, it is recommended that the Board of Commissioners of the Omni
Community Redevelopment Agency adopt the attached resolution. By a four -fifths (4/5ths)
affirmative vote, the Resolution ratifies, approves, and confirms the Executive Director's finding
and authorizes the allocation of additional grant funding in an amount not to exceed Two Million
Dollars ($2,000,000.00) to Kush Property LLC for the completion of the Project and the extension
of the affordability period to fifty (50) years.
FUNDING:
$2,000,000 allocated from CRA Reserve "Other Grant and Aids" Account Number
10040.920501.8830000.0000.00000.