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Home My WebLink AboutSEOPW CRA 2026-04-09 Agenda PacketCity of Miami 819 NW 2nd Ave 3rd Floor Miami, FL 33136 www.seopwcra.com Meeting Agenda Thursday, April 09, 2026 10:00 AM City Hall 3500 Pan American Drive Miami, FL 33133 SEOPW Community Redevelopment Agency Christine King, Chair, District Five Damian Pardo, Vice Chair, District Two Miguel Gabela, Board Member, District One Rolando Escalona, Board Member, District Three Ralph "Rafael" Rosado, Board Member, District Four X k k******WW W:Y:Y****iiiiiii SEOPW CRA OFFICE ADDRESS: 819 NW 2ND AVENUE, 3RD FLOOR MIAMI, FL 33136 Phone: (305) 679-6800 www.seopwcra.com Southeast Overtown/Park West CRA Meeting Agenda April 9, 2026 MINUTES APPROVAL 1. Thursday, January 22, 2026 CALL TO ORDER CRA RESOLUTION 1. CRA RESOLUTION 18946 A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("SEOPW CRA"), RATIFYING AND RETROACTIVELY AUTHORIZING THE EXECUTIVE DIRECTOR TO ACCEPT DONATIONS IN THE AMOUNT OF SIXTY-ONE THOUSAND DOLLARS AND ZERO CENTS ($61,000.00) ("FUNDS") FOR THE 16TH ANNUAL HISTORIC OVERTOWN HOLIDAY TOY GIVEAWAY HELD ON DECEMBER 19, 2025 ("PURPOSE"); PROVIDING FOR THE INCORPORATION OF RECITALS AND FOR AN EFFECTIVE DATE. File # 18946 - Backup City ofMianzi Page 2 Printed on 4/2/2026 Southeast Overtown/Park West CRA Meeting Agenda April 9, 2026 2. CRA RESOLUTION 19140 A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("SEOPW 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 HEREIN AS EXHIBIT "A," THAT COMPETITIVE NEGOTIATION METHODS AND PROCEDURES ARE NOT PRACTICABLE OR ADVANTAGEOUS, PURSUANT TO SECTION(S) 18-85 AND 18-86 OF THE CODE OF THE CITY OF MIAMI, FLORIDA, AS AMENDED ("CITY CODE"), AS ADOPTED BY THE SEOPW CRA, AND WAIVING SAID PROCEDURES, AWARDING A GRANT, IN AN AMOUNT NOT TO EXCEED SIX HUNDRED TWENTY-SEVEN THOUSAND FIVE HUNDRED FIFTY DOLLARS AND EIGHTY-FIVE CENTS ($627,550.85) ("FUNDS"), TO NATIONAL CHURCH OF GOD, INC., A FLORIDA NOT -FOR -PROFIT CORPORATION ("GRANTEE"), TO UNDERWRITE COSTS FOR URGENT REPAIR AND REHABILITATION, IN ACCORDANCE WITH 40-YEAR RECERTIFICATION REQUIREMENTS, AT 1817 NORTHWEST 2ND COURT, MIAMI, FLORIDA 33136 ("PURPOSE"); AUTHORIZING THE EXECUTIVE DIRECTOR TO DISBURSE FUNDS, AT HIS DISCRETION, ON A REIMBURSEMENT BASIS OR DIRECTLY TO VENDORS, UPON PRESENTATION OF INVOICES AND SATISFACTORY DOCUMENTATION, SUBJECT TO THE AVAILABILITY OF FUNDING, FROM THE CORRESPONDING ACCOUNT NO. 10050.920101.883000.0000.00000 "OTHER GRANTS AND AIDS"; FURTHER AUTHORIZING THE EXECUTIVE DIRECTOR TO NEGOTIATE AND EXECUTE ANY AND ALL DOCUMENTS NECESSARY, ALL IN FORMS ACCEPTABLE TO COUNSEL, INCLUDING, BUT NOT LIMITED TO, A RESTRICTIVE COVENANT TO BE RECORDED IN THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA, FOR SAID PURPOSE; PROVIDING FOR THE INCORPORATION OF RECITALS AND AN EFFECTIVE DATE. File # 19140 - Exhibit A File # 19140 - Backup File # 19140 - Notice To The Public City ofMianzi Page 3 Printed on 4/2/2026 Southeast Overtown/Park West CRA Meeting Agenda April 9, 2026 3. CRA RESOLUTION 19141 A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("SEOPW 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 HEREIN AS EXHIBIT "A," THAT COMPETITIVE NEGOTIATION METHODS AND PROCEDURES ARE NOT PRACTICABLE OR ADVANTAGEOUS, PURSUANT TO SECTION(S) 18-85 AND 18-86 OF THE CODE OF THE CITY OF MIAMI, FLORIDA, AS AMENDED ("CITY CODE"), AS ADOPTED BY THE SEOPW CRA, AND WAIVING SAID PROCEDURES, AWARDING A GRANT, IN AN AMOUNT NOT TO EXCEED THREE HUNDRED TEN THOUSAND DOLLARS AND ZERO CENTS ($310,000.00) ("FUNDS"), TO SMOOTHIE GIRLS 4 FL, LLC, A FLORIDA LIMITED LIABILITY COMPANY ("GRANTEE"), WITH A PRINCIPAL ADDRESS AT 249 NORTHWEST 6TH STREET, SUITE 110C, MIAMI, FLORIDA 33136 ("PROPERTY"), TO UNDERWRITE COSTS ASSOCIATED WITH THE DESIGN AND CONSTRUCTION BUILD -OUT OF THE "TROPICAL SMOOTHIE CAFE" AT 249 NORTHWEST 6TH STREET, SUITE 102, MIAMI, FLORIDA 33136 ("PURPOSE"); AUTHORIZING THE EXECUTIVE DIRECTOR TO DISBURSE FUNDS, AT HIS DISCRETION, ON A REIMBURSEMENT BASIS OR DIRECTLY TO VENDORS, UPON PRESENTATION OF INVOICES AND SATISFACTORY DOCUMENTATION, SUBJECT TO THE AVAILABILITY OF FUNDING, FROM THE CORRESPONDING ACCOUNT NO. 10050.920101.883000.0000.00000 "OTHER GRANTS AND AIDS"; FURTHER AUTHORIZING THE EXECUTIVE DIRECTOR TO NEGOTIATE AND EXECUTE ANY AND ALL DOCUMENTS NECESSARY, ALL IN FORMS ACCEPTABLE TO COUNSEL, INCLUDING, BUT NOT LIMITED TO, A RESTRICTIVE COVENANT TO BE RECORDED IN THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA, FOR SAID PURPOSE; PROVIDING FOR THE INCORPORATION OF RECITALS AND AN EFFECTIVE DATE. File # 19141 - Exhibit A File # 19141 - Backup File # 19141 - Notice To The Public City ofMianzi Page 4 Printed on 4/2/2026 Southeast Overtown/Park West CRA Meeting Agenda April 9, 2026 4. CRA RESOLUTION 19142 A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("SEOPW 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 HEREIN AS EXHIBIT "A," THAT COMPETITIVE NEGOTIATION METHODS AND PROCEDURES ARE NOT PRACTICABLE OR ADVANTAGEOUS, PURSUANT TO SECTION(S) 18-85 AND 18-86 OF THE CODE OF THE CITY OF MIAMI, FLORIDA, AS AMENDED ("CITY CODE"), AS ADOPTED BY THE SEOPW CRA, AND WAIVING SAID PROCEDURES, AWARDING A GRANT, IN AN AMOUNT NOT TO EXCEED NINE HUNDRED SEVENTY-FIVE THOUSAND DOLLARS AND ZERO CENTS ($975,000.00) ("FUNDS"), TO ST. JOHN INSTITUTIONAL MISSIONARY BAPTIST CHURCH, INC., A FLORIDA NOT -FOR -PROFIT CORPORATION ("GRANTEE"), TO UNDERWRITE COSTS FOR URGENT REPAIR AND REHABILITATION, IN ACCORDANCE WITH 40-YEAR RECERTIFICATION REQUIREMENTS, AT 1328 NORTHWEST 3RD AVENUE, MIAMI, FLORIDA 33136 ("PURPOSE"); AUTHORIZING THE EXECUTIVE DIRECTOR TO DISBURSE FUNDS, AT HIS DISCRETION, ON A REIMBURSEMENT BASIS OR DIRECTLY TO VENDORS, UPON PRESENTATION OF INVOICES AND SATISFACTORY DOCUMENTATION, SUBJECT TO THE AVAILABILITY OF FUNDING, FROM THE CORRESPONDING ACCOUNT NO. 10050.920101.883000.0000.00000 "OTHER GRANTS AND AIDS"; FURTHER AUTHORIZING THE EXECUTIVE DIRECTOR TO NEGOTIATE AND EXECUTE ANY AND ALL DOCUMENTS NECESSARY, ALL IN FORMS ACCEPTABLE TO COUNSEL, INCLUDING, BUT NOT LIMITED TO, A RESTRICTIVE COVENANT TO BE RECORDED IN THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA, FOR SAID PURPOSE; PROVIDING FOR THE INCORPORATION OF RECITALS AND AN EFFECTIVE DATE. File # 19142 - Backup File # 19142 - Exhibit A File # 19142 - Notice To The Public City ofMianzi Page 5 Printed on 4/2/2026 Southeast Overtown/Park West CRA Meeting Agenda April 9, 2026 5. CRA RESOLUTION 19143 A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("SEOPW 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 HEREIN AS EXHIBIT "A," THAT COMPETITIVE NEGOTIATION METHODS AND PROCEDURES ARE NOT PRACTICABLE OR ADVANTAGEOUS, PURSUANT TO SECTION(S) 18-85 AND 18-86 OF THE CODE OF THE CITY OF MIAMI, FLORIDA, AS AMENDED ("CITY CODE"), AS ADOPTED BY THE SEOPW CRA, AND WAIVING SAID PROCEDURES, AWARDING A GRANT, IN AN AMOUNT NOT TO EXCEED THREE MILLION FIVE HUNDRED THOUSAND DOLLARS AND ZERO CENTS ($3,500,000.00) ("FUNDS"), TO SIXTH STREET MIAMI PARTNERS LLC, A FOREIGN LIMITED LIABILITY COMPANY AUTHORIZED TO CONDUCT BUSINESS IN THE STATE OF FLORIDA ("GRANTEE"), WITH A PRINCIPAL ADDRESS AT 2200 BISCAYNE BOULEVARD, MIAMI, FLORIDA 33137, TO UNDERWRITE COSTS ASSOCIATED WITH THE CONSTRUCTION BUILD -OUT AND DEVELOPMENT OF THE "FREEDOM CENTER" AT GALE MIAMI HOTEL (FOLIO NO: 01-0105-090-2160), GENERALLY LOCATED AT 159 NORTHEAST 6TH STREET, MIAMI, FLORIDA 33132 ("PROPERTY") ("PURPOSE"); AUTHORIZING THE EXECUTIVE DIRECTOR TO DISBURSE FUNDS, AT HIS DISCRETION, ON A REIMBURSEMENT BASIS OR DIRECTLY TO VENDORS, UPON PRESENTATION OF INVOICES AND SATISFACTORY DOCUMENTATION, SUBJECT TO THE AVAILABILITY OF FUNDING, FROM THE CORRESPONDING ACCOUNT NO. 10050.920101.883000.0000.00000 "OTHER GRANTS AND AIDS"; FURTHER AUTHORIZING THE EXECUTIVE DIRECTOR TO NEGOTIATE AND EXECUTE ANY AND ALL DOCUMENTS NECESSARY, ALL IN FORMS ACCEPTABLE TO COUNSEL, INCLUDING, BUT NOT LIMITED TO, A RESTRICTIVE COVENANT TO BE RECORDED IN THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA, FOR SAID PURPOSE; PROVIDING FOR THE INCORPORATION OF RECITALS AND AN EFFECTIVE DATE. File # 19143 - Exhibit A File # 19143 - Backup File # 19143 - Notice To The Public City ofMianzi Page 6 Printed on 4/2/2026 Southeast Overtown/Park West CRA Meeting Agenda April 9, 2026 6. CRA RESOLUTION 19144 A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("SEOPW CRA"), WITH ATTACHMENT(S), RETROACTIVELY APPROVING AND ADOPTING THE SEOPW CRA FINANCIAL STATEMENTS AND AUDIT REPORT ("2025 AUDIT"), ATTACHED AND INCORPORATED HEREIN AS EXHIBITS "A-B," RESPECTIVELY, FOR THE FISCAL YEAR COMMENCING OCTOBER 1, 2024 AND ENDING SEPTEMBER 30, 2025 ("FY 2024-2025"); PROVIDING FOR THE INCORPORATION OF RECITALS AND AN EFFECTIVE DATE. File # 19144 Exhibit A File # 19144 Exhibit B City ofMianzi Page 7 Printed on 4/2/2026 3.1 SEOPW Board of Commissioners Meeting April 9, 2026 SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY INTER -OFFICE MEMORANDUM To: Board Chair Christine King Date: April 1, 2026 and Members of the CRA Board File: 18946 From: James McQueen Executive Director Subject: Retroactive Approval to Accept Donations — 2025 Holiday Toy Giveaway Enclosures: File # 18946 - Backup BACKGROUND: A Resolution of the Board of Commissioners ("Board") of the Southeast Overtown/Park West Community Redevelopment Agency ("SEOPW CRA"), ratifying and retroactively authorizing the Executive Director to accept donations in the amount of Sixty -One Thousand Dollars and Zero Cents ($61,000.00) ("Funds") for the 16`h Annual Historic Overtown Holiday Toy Giveaway held on December 19, 2025 ("Purpose"). It is recommended that the Board of the SEOPW CRA approve and adopt the attached Resolution for the Purpose stated herein. The SEOPW CRA oversees and facilitates an annual Holiday Toy Giveaway in Historic Overtown, which engages with residents and various community partners, attracting visitors, and ultimately opportunities, to the Redevelopment Area. For Fiscal Year 2025-2026, various community partners donated a total amount of Sixty -One Thousand Dollars and Zero Cents ($61,000.00), which was used to purchase services and toys that were subsequently provided to children in the Overtown community as a part of the holiday events. This year's Historic Overtown Toy Giveaway was "lit" with brights lights and artificial snow that fell from the sky. Further, visitors were welcomed with food and beverages as they participated in a number of activities at vendor booths that were featured. JUSTIFICATION: Pursuant to Section 163.340(9), Florida Statutes (the "Act") community redevelopment means "undertakings, activities, or projects of a ... community redevelopment agency in a community redevelopment area for the elimination and prevention of the development or spread of slums and blight...." Packet Pg. 8 Section 2, Principle 6, of the Plan, provides for the promotion of "local cultural events, institutions, and businesses" as a stated redevelopment principle. Lastly, Section 2, Principle 14, of the Plan, lists restoration of "a sense of community and unification of the area culturally" as a stated redevelopment principle. DONATIONS: $61,000.00 will be placed in Account Code No. 10051.920101.469000.0000.00000 — SEOPW NonTIF Misc-Other Revenues. FACT SHEET: Number of participants: 350 Funding request: N/A Age range of participants: 2 - 12 Scope of work or services (Summary): The 16t' Annual Historic Overtown Holiday Toy Giveaway provides residents of Overtown an opportunity to enjoy the holiday spirit, express community pride, and receive toys for the holiday season. Page 2 of 6 Packet Pg. 9 3.1 AGENDA ITEM FINANCIAL INFORMATION FORM SEOPW CRA CRA Board Meeting Date: April 9, 2026 CRA Section: Brief description of CRA Agenda Item: A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("SEOPW CRA"), RATIFYING AND RETROACTIVELY AUTHORIZING THE EXECUTIVE DIRECTOR TO ACCEPT DONATIONS IN THE AMOUNT OF SIXTY-ONE THOUSAND DOLLARS AND ZERO CENTS ($61,000.00) ("FUNDS") FOR THE 16TH ANNUAL HISTORIC OVERTOWN HOLIDAY TOY GIVEAWAY HELD ON DECEMBER 19, 2025 ("PURPOSE"); PROVIDING FOR THE INCORPORATION OF RECITALS AND FOR AN EFFECTIVE DATE. Project Number YES, there Account Code: (if applicable): are sufficient funds in Line Item: 10051.920101.883000.0000.00000 Amount: $1 0 3 , 41 8.91 NO (Complete the following source of funds information): Amount budgeted in the line item: $ Balance in the line item: $ Amount needed in the line item: $ Sufficient funds will be transferred from the following line items: ACTION ACCOUNT NUMBER TOTAL Project No./Index/Minot Object From $ To $ From $ To $ Comments: A total of $103,418.91 were disbursed for the 2025's Christmas Tree Lighting Event derived from the Non TIF Revenue Fund. Nevertheless, said total of expenditures were netted out by $61,000.00 collected through donations. Page 3 of 6 Packet Pg. 10 3.1 Approved by: Approval: Executive Director 2/19/2026 Miguel A Valcntirr, Finance Officer 2/19/2026 Page 4 of 6 Packet Pg. 11 3.1 Southeast Overtown/Park West Community Redevelopment Agency File Type: CRA Resolution Enactment Number: File Number: 18946 Final Action Date: A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("SEOPW CRA"), RATIFYING AND RETROACTIVELY AUTHORIZING THE EXECUTIVE DIRECTOR TO ACCEPT DONATIONS IN THE AMOUNT OF SIXTY-ONE THOUSAND DOLLARS AND ZERO CENTS ($61,000.00) ("FUNDS") FOR THE 16TH ANNUAL HISTORIC OVERTOWN HOLIDAY TOY GIVEAWAY HELD ON DECEMBER 19, 2025 ("PURPOSE"); PROVIDING FOR THE INCORPORATION OF RECITALS AND FOR AN EFFECTIVE DATE. WHEREAS, the Southeast Overtown/Park West Community Redevelopment Agency ("SEOPW CRA") is a community redevelopment agency created pursuant to Chapter 163, Florida Statutes, and is responsible for carrying out community redevelopment activities and projects within its Redevelopment Area in accordance with the 2018 Updated Southeast Overtown/Park West Community Redevelopment Plan ("Plan"); and WHEREAS, Section 2, Principle 6, of the Plan, provides for the promotion of "local cultural events, institutions, and businesses," as a stated redevelopment principle; and WHEREAS, Section 2, Principle 14, of the Plan, lists restoration of "a sense of community and unification of the area culturally," as a stated redevelopment principle; and WHEREAS, the SEOPW CRA oversees and facilitates an annual Overtown Tree Lighting Ceremony event ("Ceremony") and Holiday Toy Giveaway event ("Toy Giveaway"), which engages residents and attracts visitors to the Redevelopment Area; and WHEREAS, the SEOPW CRA allocated a total amount of Sixty -One Thousand Dollars and Zero Cents ($61,000.00) in donations ("Donations") from various community partners ("Donees") in support of the oversight and facilitation of the Toy Giveaway, held on December 19, 2025, respectively, which were used to pay for services, equipment, as well as toys that were then distributed to children within the Redevelopment Area; and WHEREAS, the Executive Director now seeks retroactive approval for accepting the Donations for the Toy Giveaway held on December 19, 2025 ("Purpose"); and WHEREAS, the Board of Commissioners finds that authorizing this Resolution would further the SEOPW CRA's redevelopment goals and objectives; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY: Page 5 of 6 Packet Pg. 12 3.1 Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by reference and incorporated herein as if fully set forth in this Section. Section 2. The Board of Commissioners hereby retroactively approves the acceptance of the Donations, which were placed into the SEOPW CRA "Other Current Charges and Obligations," Account Code No. 10051.920101.469000.0000.00000 — SEOPW NonTIF Misc-Other Revenues, for the Purpose stated herein. Section 3. The Executive Director is authorized to execute any and all action necessary to effectuate the acceptance of said Donations from the Donees, including any and all amendments thereto, all in forms acceptable to Counsel. Section 4. This Resolution shall become effective immediately upon its adoption. APPROVED AS TO FORM AND LEGAL SUFFICIENCY: ounsel 2/19/2026 Page 6 of 6 Packet Pg. 13 3.1.a Holiday Budget 2025 Christmas Decor $ 61,064.54 Food & Beverage $ 11,572.22 Marketing (Photo, Video, Flyers) $ 6,099.00 Equipment ( Barricades) $ 1,080.00 Toys $ 10,455.82 Program (DJ, Santa, Characters) $ 12,509.25 Permits $ 638.08 Donations $ (61,000.00) TOTAL: $ 42,418.91 Attachment: File # 18946 - Backup (18946 : Retroactive Approval to Accept Donations — 2025 Holiday Toy Packet Pg. 14 3.1.a IIMWTTMTRUHMEEPIDISMATIVIDEPID1CVMTMMITM1.. • .071 iNNFTMTTIMPlinl:WIL 01=7:117 Packet Pg. 15 3.2 SEOPW Board of Commissioners Meeting April 9, 2026 SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY INTER -OFFICE MEMORANDUM To: Board Chair Christine King and Members of the CRA Board From: James McQueen Executive Director Date: April 2, 2026 File: 19140 Subject: 4/5th Vote: Grant to National Church of God, Inc. Enclosures: File # 19140 - Exhibit A File # 19140 - Backup File # 19140 - Notice To The Public BACKGROUND: A Resolution of the Board of Commissioners of the Southeast Overtown/Park West Community Redevelopment Agency ("SEOPW 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 herein as Exhibit "A," that competitive negotiation methods and procedures are not practicable or advantageous, pursuant to Section(s) 18-85 and 18-86 of the Code of the City of Miami, Florida, as amended ("City Code"), as adopted by the SEOPW CRA, and waiving said procedures, awarding a grant, in an amount not to exceed Six Hundred Twenty - Seven Thousand Five Hundred Fifty Dollars and Eighty -Five Cents ($627,550.85) ("Funds"), to National Church of God, Inc., a Florida Not -For -Profit Corporation ("Grantee"), to underwrite costs for urgent repair and rehabilitation, in accordance with 40-year recertification requirements, at 1817 Northwest 2"d Court, Miami, Florida 33136 ("Purpose"). It is recommended that the Board of the SEOPW CRA approve and adopt the attached Resolution, authorizing the allocation of the Funds to the Grantee for the Purpose stated herein. JUSTIFICATION: Pursuant to Chapter 163, Florida Statutes, the Southeast Overtown/Park West Community Redevelopment Agency ("SEOPW CRA") is responsible for carrying out community redevelopment activities and projects within its redevelopment area ("Redevelopment Area") in accordance with the 2018 Updated Southeast Overtown/Park West Redevelopment Plan (the "Plan"). Section 163.340(9), Florida Statutes (the "Act"), community redevelopment means "undertakings, activities, or projects of a ... community redevelopment agency in a community redevelopment area for the elimination and prevention of the development or spread of slums and blight...." Packet Pg. 16 3.2 Section 2, Goal 1, of the Plan, lists the "preserv[ation of] historic buildings and community heritage," as a stated redevelopment goal. Lastly, Section 2, Principle 8, of the Plan, provides that "[o]lder buildings that embody the area's cultural past must be restored," as a stated redevelopment principle. FUNDING: $627,550.85 allocated from SEOPW "Other Grants and Aids" Account No. 10050.920101.883000.0000.00000. FACT SHEET: Entity name: National Church of God, Inc., a Florida Not -For -Profit Corporation Address: 1817 Northwest 2"d Court, Miami, Florida 33136 Scope of work or services (Summary): To support urgent repairs and rehabilitation costs for the National Church of God, a house of worship. Page 2 of 7 Packet Pg. 17 3.2 AGENDA ITEM FINANCIAL INFORMATION FORM SEOPW CRA CRA Board Meeting Date: April 9, 2026 CRA Section: Brief description of CRA Agenda Item: AWARDING A GRANT, IN AN AMOUNT NOT TO EXCEED ($627,550.85), TO NATIONAL CHURCH OF GOD, INC., A FLORIDA NOT -FOR -PROFIT CORPORATION ("GRANTEE"), TO UNDERWRITE COSTS FOR URGENT REPAIR AND REHABILITATION, IN ACCORDANCE WITH 40-YEAR RECERTIFICATION REQUIREMENTS, AT 1817 NORTHWEST 2ND COURT, MIAMI, FLORIDA Project Number YES, there Account Code: (if applicable): are sufficient funds in Line Item: 10050.920101.883000.0000.00000 Amount: $ 6 2 7, 5 5 0.8 5 NO (Complete the following source of funds information): Amount budgeted in the line item: $ Balance in the line item: $ Amount needed in the line item: $ Sufficient funds will be transferred from the following line items: ACTION ACCOUNT NUMBER TOTAL Project No./Index/Minot Object From $ To $ From $ To $ Comments: Page 3 of 7 Packet Pg. 18 3.2 Approved by: Approval: Executive Director 4/2/2026 Miguel A Valcntirr, Finance Officer 4/2/2026 Page 4 of 7 Packet Pg. 19 3.2 Southeast Overtown/Park West Community Redevelopment Agency File Type: CRA Resolution Enactment Number: File Number: 19140 Final Action Date: A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("SEOPW 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 HEREIN AS EXHIBIT "A," THAT COMPETITIVE NEGOTIATION METHODS AND PROCEDURES ARE NOT PRACTICABLE OR ADVANTAGEOUS, PURSUANT TO SECTION(S) 18-85 AND 18-86 OF THE CODE OF THE CITY OF MIAMI, FLORIDA, AS AMENDED ("CITY CODE"), AS ADOPTED BY THE SEOPW CRA, AND WAIVING SAID PROCEDURES, AWARDING A GRANT, IN AN AMOUNT NOT TO EXCEED SIX HUNDRED TWENTY-SEVEN THOUSAND FIVE HUNDRED FIFTY DOLLARS AND EIGHTY-FIVE CENTS ($627,550.85) ("FUNDS"), TO NATIONAL CHURCH OF GOD, INC., A FLORIDA NOT -FOR -PROFIT CORPORATION ("GRANTEE"), TO UNDERWRITE COSTS FOR URGENT REPAIR AND REHABILITATION, IN ACCORDANCE WITH 40-YEAR RECERTIFICATION REQUIREMENTS, AT 1817 NORTHWEST 2ND COURT, MIAMI, FLORIDA 33136 ("PURPOSE"); AUTHORIZING THE EXECUTIVE DIRECTOR TO DISBURSE FUNDS, AT HIS DISCRETION, ON A REIMBURSEMENT BASIS OR DIRECTLY TO VENDORS, UPON PRESENTATION OF INVOICES AND SATISFACTORY DOCUMENTATION, SUBJECT TO THE AVAILABILITY OF FUNDING, FROM THE CORRESPONDING ACCOUNT NO. 10050.920101.883000.0000.00000 "OTHER GRANTS AND AIDS"; FURTHER AUTHORIZING THE EXECUTIVE DIRECTOR TO NEGOTIATE AND EXECUTE ANY AND ALL DOCUMENTS NECESSARY, ALL IN FORMS ACCEPTABLE TO COUNSEL, INCLUDING, BUT NOT LIMITED TO, A RESTRICTIVE COVENANT TO BE RECORDED IN THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA, FOR SAID PURPOSE; PROVIDING FOR THE INCORPORATION OF RECITALS AND AN EFFECTIVE DATE. WHEREAS, the Southeast Overtown/Park West Community Redevelopment Agency ("SEOPW CRA") is a community redevelopment agency created pursuant to Chapter 163, Florida Statutes, and is responsible for carrying out community redevelopment activities and projects within its Redevelopment Area in accordance with the 2018 Updated Southeast Overtown/Park West Community Redevelopment Plan ("Plan"); and WHEREAS, pursuant to Section 163.340(9), Florida Statutes, "community redevelopment means projects of a ... community redevelopment agency in a community redevelopment area for the elimination and prevention of the development or spread of slum and blight"; and Page 5 of 7 Packet Pg. 20 3.2 WHEREAS, Section 2, Goal 1, of the Plan, lists the "preserv[ation] of historic buildings and community heritage," as a stated redevelopment goal; and WHEREAS, Section 2, Principle 8, of the Plan, provides that "[o]lder buildings that embody the area's cultural past should be restored," as a stated redevelopment principle; and WHEREAS, National Church of God, Inc., a Florida Not -For -Profit Corporation ("Grantee"), owns National Church of God, a house of worship, located at 1817 Northwest 2"d Court, Miami, Florida 33136 (the "Property"); and WHEREAS, the Property was built over 100 years ago and is in need of repairs and improvements to satisfy the 40-year recertification; and WHEREAS, Grantee is requesting financial assistance, in an amount not to exceed Six Hundred Twenty -Seven Thousand Five Hundred Fifty Dollars and Eighty -Five Cents ($627,550.85), to underwrite costs associated with urgent repairs and improvements needed at the Property, which includes 40-year recertification, structural repairs and interior renovation, energy and hurricane mitigation, mechanical, electrical and plumbing improvements, exterior stucco repairs and painting, church facade renovation and improvement, mold and termite treatment, parking lot repairs and sitework, as well as soft costs ("Purpose"); and WHEREAS, the Board of Commissioners wishes to award grant funds, in an amount not to exceed Six Hundred Twenty -Seven Thousand Five Hundred Fifty Dollars and Eighty -Five Cents ($627,550.85) ("Funds"), for the Purpose stated herein; and WHEREAS, the Board of Commissioners finds that adopting this Resolution would further the redevelopment goals and objectives of the SEOPW CRA; and WHEREAS, based on the recommendation and findings of the Executive Director, attached and incorporated herein as Exhibit "A," it is in the SEOPW CRA's best interest for the Board of Commissioners to authorize, by an affirmative four -fifths (4/5ths) vote, a waiver of competitive sealed bidding procedures, pursuant to Section(s) 18-85 and 18-86 of the Code of the City of Miami, Florida, as amended ("City Code"), as adopted by the SEOPW CRA, to allocate said Funds, subject to availability, and to authorize the Executive Director to negotiate and execute any and all agreements necessary, all in forms acceptable to Counsel, with Grantee for said Purpose. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY: Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by reference and incorporated herein as if fully set forth in this Section. Section 2. Pursuant to Section(s) 18-85 and 18-86 of the City Code, as adopted by the SEOPW CRA, by a four -fifths (4/5t11) affirmative vote, after an advertised public hearing, the Executive Director's recommendation and written findings, attached and incorporated herein as Exhibit "A," that competitive negotiation methods and procedures are not practicable or advantageous to the SEOPW CRA, and waiving the requirements for said procedures, are hereby ratified, approved, and confirmed. Page 6 of 7 Packet Pg. 21 Section 3. The Executive Director is hereby authorized' to disburse the Funds, at his discretion, on a reimbursement basis or directly to vendors, upon presentation of invoices and satisfactory documentation from Other Grants and Aids - Account No. 10050.920101.883000.0000.00000, subject to funding availability, for the Purpose stated herein. Section 4. The Executive Director is authorized' to negotiate and execute an agreement, including any and all necessary documents, all in forms acceptable to Counsel, for said Purpose. Section 5. Sections of this Resolution may be renumbered or re -lettered and corrections of typographical errors which do not affect the intent may be authorized by the Executive Director, or the Executive Director's designee, without need for public hearing, by filing a corrected copy of same with the City of Miami City Clerk. Section 6. This Resolution shall become effective immediately upon its adoption. APPROVED AS TO FORM AND LEGAL SUFFICIENCY: ounsel 4/2/2026 ' The herein authorization is further subject to compliance with all legal requirements that may be imposed, including but not limited to those prescribed by applicable State law, City Charter and City Code provisions, as adopted by the SEOPW CRA. Page 7 of 7 Packet Pg. 22 SEOPW Board of Commissioners Meeting April 9, 2026 THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY 4/5ths RECOMMENDATION INTER -OFFICE MEMORANDUM To: Board Chair Christine King and Date: April 9, 2026 File: Members of the SEOPW CRA Board Subject: Recommendations and findings to waive competitive sealed bidding and negotiation methods, pursuant to Sec. 18-85 and 18-86, for National Church of God, Inc. From: James D. McQueen Enclosures: Exhibit "A" Executive Director BACKGROUND: The Board of Commissioners ("Board") of the Southeast Overtown/Park West Community Redevelopment Agency ("SEOPW CRA") is responsible for carrying out community redevelopment activities and projects within its Redevelopment Area in accordance with the 2018 Updated SEOPW CRA Redevelopment Plan ("Plan"). National Church of God, Inc., a Florida Not -For -Profit Corporation ("Grantee"), has submitted a request for financial assistance for immediate repairs and improvements of the National Church of God, a house of worship, located at 1817 Northwest 2nd Court, Miami, Florida 33136 (the "Property"). The SEOPW CRA desires to provide funding, in an amount not to exceed Six Hundred Twenty -Seven Thousand Five Hundred Fifty Dollars and Eighty - Five Cents ($627,550.85) ("Funds"). The National Church of God, built over 100 years ago, is in urgent need of repairs to address 40-year recertification requirements and improvements, which includes structural repairs and interior renovation, energy and hurricane mitigation, mechanical, electrical and plumbing improvements, exterior stucco repairs and painting, and other church facade renovations, as well as soft costs, in order to maintain its functional presence in the Overtown community and for its congregation. With the help of the SEOPW CRA, the Grantee's revitalizations efforts will help strengthen its role in the community for 100 more years. It is recommended that the SEOPW CRA Board authorize the issuance of the Funds to Grantee for the Purpose stated herein. The Executive Director has reviewed and vetted the request, in accordance with the objectives of the Plan. RECOMMENDATION: In light of the above -stated, approval of a waiver of the formal requirements of competitive sealed bidding methods as not being practicable or advantageous to the SEOPW CRA as set forth in the City Code of Ordinances, as amended, specifically Section(s) 18-85 and 18-86, and the affirmation of these written findings and the forwarding the same to the SEOPW CRA Board by a four -fifths vote is respectfully requested. APPROVED James D. McQueen, Executive Director 1 Attachment: File # 19140 - Exhibit A (19140 : 4/5th Vote: Grant to National Church of God, Inc.) Packet Pg. 23 National Church of God, Inc. 3.2.b 977 NW 17th Avenue, Fort Lauderdale, FL 33311 ncoginc@aol.com Bishop Nathaniel Hickmon \\�� Bishop Gregory Washington General Overseer Assistant General Overseer Bishop Franklin Ramsey General Secretary iTreasurer The Story of the National Church of God Miami With a rich history spanning over 100 years, the National Church of God Miami (NCOG), located at 1821 NW 2nd Court in Overtown, Miami, Florida 33136, is more than just a place of worship; it is a pillar of hope, healing, and community transformation in the heart of Overtown. Founded by a group of visionary individuals, the church began as a mission as the Church of God, in 1903 to bring the message of hope and salvation to those in need. In 1967 under the leadership of Bishop George (Shirley) Wallace, the Church of God transitioned to the National Church of God Miami. Throughout the years, the following pastors and first ladies were Bishop Leonard (Merlene) Josey, Elder Vernal Juanita) Weech, Elder Curtis (Almeta) Kelly, Bishop Rupert (Ethel A,) Ramsey, Bishop Ralph Johnson, Elder Craven (Betty) Ferguson, Sr., Elder Herman (Vivian) Henderson, Sr., Bishop Wi11io (Ernestine) Coleman, Jr., Bishop Lawrence (Regina) Smith, and Bishop David Glass. Today, that mission continues with strength, purpose, and compassion, with two churches coexisting with one another in the same building. Currently under the faithful leadership of Elder Gould, who has been a dedicated member for nine years and has served as Pastor for the last six, the church remains committed to spiritual growth and community impact. Also, Lawrence Brown, the Pastor of God's Grace Church of Worship, has been pastorinl for nearly three years. Pastor Brown became a part of the Clergy Ministry at St. John Institutional Missionary Baptist Church under the teachings of the late and former Pastor Henry Nevins and Rev. Franklin Clark of Mt Olivette Missionary Baptist Church. Focus on Street Ministries. As a 501(c)(3) organization, NCOG touches the lives of over 150 families each month, driven by a model of community partnership. Their service areas are broad yet focused, including efforts in food sovereignty, health and wellness, social service support, and housing stability. These initiatives are more than charitable; they are life -changing for the individuals and families served. Ministries within the church thrive, offering a spiritual home for all ages and stages of life. The Children's Ministry, Women's Ministry, and Men's Ministries provide age -appropriate teachings and fellowship. Marriage and Family Counseling offers guidance, healing, and strength to couples and families facing life's challenges. NCOG also remains active in addressing the immediate needs of the Overtown community through youth summer camps, regular community feeding programs, and donations to the homeless. The church partners with shelters such as Lotus House and Miami Rescue Mission, creating a powerful network of support for Miami's most vulnerable residents. As you know, Overtown is one of the most poverty-stricken areas in Miami, so there's a lot of work to be done in the Overtown area, and the church is one o the focal places of the community that helps and teaches people how to start living a more productive life. The National Church of God Miami is proof that faith in action changes lives. With a legacy built on love, service, and resilience, this century -old church continues to be a light in Overtown, guiding hearts, supporting families, and building a stronger, more compassionate community for generations to come. THE NEED After years of service, our church is in dire need of repairs; we need your help. See below the scope of work that we need funding support for: Attachment: File # 19140 - Backup (19140 : 4/5th Vote: Grant to National Church of God, Inc.) Packet Pg. 24 3.2.b Structural Repairs & Interior Renovation Structural repair to concrete cracks, spall & exposed rebar at columns & beams Remove all mold infested drywall in the bathroom and other locations Supply and install new mold resistance drywall, and duroc appropriately. Prepare and install new drywall, tape, compound, and finish to match. Mold treatment/abatement & building termite tenting Prepare, prime and paint one (1) coat primer and two (2) coats Sherwin Williams (Low VOC) paint Energy & Hurricane Mitigation Replace all Exterior doors with Hurricane impact doors Replace all Exterior windows with Hurricane impact windows Replace all ceiling fans & Iightings to energy efficient Waterproofing & Weatherization Re -roofing existing with tapered insulation Flat roofing system Remove and replace damaged roof sheathings Interior insulation (Church auditorium) Caulk and seal all doors and window openings Mechanical, Electrical & Plumbing Improvements Maintenance repair to all HVAC units including flushing and gas exchange Upgrade one (1) 150 Amps electrical panel to NEC code Repair and upgrade all outlets and CGFI sockets Replace outdated fixtures with energy -efficient, warm LED lighting Upgrade all bathroom plumbing fittings & fixtures A&E Designs, Permits fees, & Insurances Attachment: File # 19140 - Backup (19140 : 4/5th Vote: Grant to National Church of God, Inc.) Packet Pg. 25 3.2.b BOFAM CONSTRUCTION COMPANY, INC General Contractors, Estimators & Roofing Contractors CGC 062660 & CCC 1329221 (Certified DBE, CSBE, SECTION 3) TEL: (754) 245-0102 FAX: (305) 675-9269 AUSTIN@BOFAMINC.COM Date: February 151, 2026 Proposal: # B25-021 To: Hurlette Brown National Church of God, Inc Coordinator, 1817 NW 2"d Court Miami, FL 33136 Tel: 305-496-2236 Email: Brownie33162ayahoo.com Attention: Mrs. Brown, We appreciate the opportunity to submit a proposal on your firm's project. If you have any questions, please do not hesitate to contact me at (754) 245 — 0102. Respectfully, Austin Akinrin 1600 N.W 3RD AVENUE, BLDG. D4 MIAMI, FL 33136 Project: National Church of God, Inc— Renovation Repairs & 40 Years Recertification Location: 1817 NW 2"d Court, Miami, FL 33136 Scope of Work: RENOVATION: Furnish all materials, labor, services, supervision, equipment, and tools required for renovation and repairs to include but not limited to Permits, demolition, structural repairs, interior renovations, new impact doors & windows, Glass/glazing, Electrical upgrades, Plumbing, AC repairs, new roofing, painting & baseboard, and finishes (ceiling, wall & floors), Existing bathroom upgrades, to meet Florida building codes and regulations. (See budget summary). Base Price National Church of God, Inc. 40-Yr. Recertification & Repairs $582,550.85 A&E Designs, Permits fees & Insurances. $ 45,000.00 Total Proposal Amount $627,550.85 Special Notes: This is a preliminary proposal pending final plan reviews and approvals by all government agencies having jurisdiction. All changes required by the building agencies having jurisdiction shall be the owner's responsibilities. Payment Schedule: TBD This proposal may be withdrawn and/or revised in (Fifteen) 15 days. If not accepted the undersigned owner accepts the above job at the price quoted and agrees to pay for said work as it progresses or as per the agreed payment schedule specified herein. In the event of legal dispute, if any sums due are collected by suit or demand of an attorney or collection agency then the defaulting party shall pay all costs, including reasonable attorney's fees. Sincerely, Austin Akinrin, President. ACCEPTANCE OF PROPOSAL: The above prices, specifications and conditions are satisfactory and accepted. You are authorized to do the work as Specified and payments will be made as described above. Date of Acceptance; / 2026 Signature: Page 1 of 1 Attachment: File # 19140 - Backup (19140 : 4/5th Vote: Grant to National Church of God, Inc.) Packet Pg. 26 3.2.b BUDGET SUMMARY Structural Repairs & Interior Renovation $132,725.00 40-Years structural and electrical recertification Demolish interior storage wall obscuring main entrance door Structural repair to concrete cracks, spall & exposed rebar at columns & beams Remove all mold infested drywall in the bathroom and other locations Supply and install new mold resistance drywall, and duroc appropriately. Prepare and install new drywall, tape, compound, and finish to match. Prepare, prime and paint one (1) coat primer and two (2) coats Sherwin Williams (Low VOC) paint Energy & Hurricane Mitigation Replace all Exterior doors with Hurricane impact doors Open existing blocked up window openings Replace all Exterior windows with Hurricane impact windows Replace all ceiling fans & Iightings to energy efficient Waterproofing & Weatherization Re -roofing existing with tapered insulation Flat roofing system Remove and replace damaged roof sheathings Interior insulation (Church auditorium) Caulk and seal all doors and window openings Mechanical, Electrical & Plumbing Improvements Maintenance repair to all HVAC units including flushing and gas exchange Upgrade one (1) 150 Amps electrical panel to NEC code Repair and upgrade all outlets and CGFI sockets Replace outdated fixtures with energy -efficient, warm LED lighting Upgrade all bathroom plumbing fittings & fixtures 1 $93,600.50 $75,528.50 $62,350.00 Attachment: File # 19140 - Backup (19140 : 4/5th Vote: Grant to National Church of God, Inc.) Packet Pg. 27 3.2.b Exterior Stucco Repairs & Painting $70,650.75 Set up scaffolds to repair exterior wall cracks to receive stucco Prepare and apply first scratch coat of stucco on repaired wall (Entire Church Building) Apply 5/8" min. thick two coats Portland cement plaster Prepare, prime and paint one (1) coat primer and two (2) coats Sherwin Williams (Low VOC) paint Church Facade Renovation & Improvement Prepare architectural & structural plans for new front entry design Demolish existing cracked and spalled entry tower and extra steps Construct new front entry facade per construction plans ADA Accessibility Upgrades Install or improve ramps, handrails, and automatic door openers. Mold & Termite Treatment Mold and termite were determined to be present in some locations. Recommend mold and termite survey on the property. Mold treatment and abatement Termite treatment and tenting Parking Lot Repairs and Sitework Repair to existing fence and gates Prepare parking areas for new drainage and asphalt overlay New asphalt striping and install wheel stop per plans Additional lighting to illuminate parking lot per 40-Yrs recertification $64,700.50 $35,420.00 $47,575.60 SUBTOTAL A&E Designs, Permits fees, & Insurances GRANT TOTAL 2 $582,550.85 $ 45,000.00 $627,550.85 Attachment: File # 19140 - Backup (19140 : 4/5th Vote: Grant to National Church of God, Inc.) Packet Pg. 28 2/18/26, 9:46 AM Detail by Entity Name 3.2.b DIVISION OF CORPORATIONS 1(////'' Jtvt�sr�i r of rr ;(/1�/7.org ✓i�vPci ) rIIr01:h an official :jinn, of Ratak Ivel itr Department of State / Division of Corporations / Search Records / Search by Entity Name / Detail by Entity Name Florida Not For Profit Corporation NATIONAL CHURCH OF GOD, INC. Filing Information Document Number 715246 FEI/EIN Number 59-2201186 Date Filed 09/13/1968 State FL Status ACTIVE Last Event AMENDMENT Event Date Filed 04/14/2003 Event Effective Date NONE Principal Address 977 NW 17TH AVE FT LAUDERDALE, FL 33311 Changed: 02/06/1997 Mailing Address PO BOX 14244 FT LAUDERDALE, FL 33302 Changed: 02/06/1997 Registered Agent Name & Address Road To Success Services, LLC 2630 W BROWARD BLVD SUITE 203-235 FORT LAUDERDALE, FL 33312 Name Changed: 04/23/2015 Address Changed: 05/01/2021 Officer/Director Detail Name & Address Title Director Attachment: File # 19140 - Backup (19140 : 4/5th Vote: Grant to National Church of God, Inc.) https://search.sunbiz.org/Inquiry/CorporationSearch/SearchResultDetail?inquirytype=EntityName&directionType=Initial&searchNameOrc Packet Pg. 29 2/18/26, 9:46 AM WILLIAMS, OTIS 318 SW 6TH AVE DELRAY BEACH, FL 33444 Title President HICKMON, NATHANIEL 4107 COONTIE CT LANTANA, FL 33462 Title Director MCKENZIE, LIPTON 3820 NW 5th Ct Lauderhill, FL 33311 Title VP Washington, Gregory 5514 Oakfield Street Orlando, FL 32808 Title Treasurer Ramsey, Franklin 627 NW 5th Street Boynton Beach, FL 33435 Title Director Cartwright, Vincent E 3390 NW 7th Ct Lauderhill, FL 33311 Title Executive Secretary Jackson -Rhodes, Cassandra F 651 SW 30th Ter Fort Lauderdale, FL 33312 Title Asst. Treasurer WELLS, DALE 5251 NE 9TH AVE POMPANO BEACH, FL 33064 Annual Reports Report Year Filed Date 2023 05/02/2023 2024 04/03/2024 2025 04/30/2025 Detail by Entity Name 3.2.b Attachment: File # 19140 - Backup (19140 : 4/5th Vote: Grant to National Church of God, Inc.) https://search.sunbiz.org/Inquiry/CorporationSearch/SearchResultDetail?inquirytype=EntityNa me8directionType=Initial&searchNameOrc Packet Pg. 30 3.2.c SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY PLEASE ALL TAKE NOTICE, the Board of Commissioners ("Board") of the Southeast Overtown / Park West Community Redevelopment Agency ("SEOPW CRA") will hold a Public Hearing meeting on Thursday, April 9, 2026, at 10:00 A.M., or anytime thereafter, in the City Commission chambers located at Miami City Hall, 3500 Pan American Drive, Miami, Florida 33133. The Board will consider the allocation of funding to National Church of God, Inc., a Florida Not -For -Profit Corporation ("Grantee"), to underwrite costs for 40-year recertification repairs and rehabilitation of the National Church of God Miami, a house of worship, located at 1817 N.W. 2nd Court, Miami, Florida 33136. In accordance with the SEOPW CRA 2018 Redevelopment Plan Update ("Plan") and Section 163, Florida Statutes, the Board will consider awarding a grant to Grantee in an amount not to exceed Six Hundred Twenty -Seven Thousand Five Hundred Fifty Dollars and Eighty -Five Cents ($627,550.85). All comments and questions with respect to the meeting and public participation should be addressed to James D. McQueen, Executive Director, or Vincent T. Brown, Esq., Staff Counsel/Deputy Director, at 819 N.W. 2nd Avenue, 3rd Floor, Miami, Florida 33136 or (305) 679-6800. This action is being considered pursuant to Section(s) 18-85 and 18-86 of the Code of the City of Miami, Florida as amended ("City Code"). The recommendation and findings to be considered in this matter are set forth in the proposed resolution and will be available as with the scheduled SEOPW CRA Board meeting or anytime thereafter in the City Commission chambers. The Board requests all interested parties be present or represented at the meeting, and may be heard with respect to any proposition before the Board in which it may take action. Should any person desire to appeal any decision of the Board with respect to any matter considered at this meeting, that person shall ensure that a verbatim record of the proceedings is made, including all testimony and evidence upon which any appeal may be based (F.S. 286.0105). Pursuant to CRA-R-24-0071, whenever a scheduled SEOPW CRA meeting is cancelled or is not held due to a lack of a quorum or other emergency, a special SEOPW CRA meeting will be automatically scheduled for the Tuesday immediately following the cancelled meeting. In the event of one of the aforementioned circumstances, the special meeting would be held on April 14, 2026, at 10:00 a.m., or anytime thereafter, in the City Commission chambers located at Miami City Hall, 3500 Pan American Drive, Attachment: File # 19140 - Notice To The Public (19140 : 4/5th Vote: Grant to National Church of God, Inc.) Packet Pg. 31 3.2.c Miami, Florida 33133. All of the scheduled agenda items from that cancelled meeting shall automatically be scheduled as an agenda item at the special SEOPW CRA meeting. The Clerk of the Board shall notify the public of the special meeting that is to take place by placing a notice of the special SEOPW CRA meeting at the entrance of City Hall, placing a notice on the SEOPW CRA's website, and, if feasible, placing an ad in a newspaper of general circulation before the special meeting on the immediately following Tuesday. There shall be no additional notice by publication required for any such scheduled agenda item that is moved to the special SEOPW CRA meeting. In accordance with the Americans with Disabilities Act of 1990, persons needing special accommodations to participate in this proceeding may contact the Office of the City Clerk at (305) 250-5361 (Voice), not later than two (2) business days prior to the proceeding. TTY users may call 711 (Florida Relay Service), not later than two (2) business days prior to the proceeding. Ad No. 43919 James D. McQueen, Executive Director Southeast Overtown/Park West Community Redevelopment Agency Attachment: File # 19140 - Notice To The Public (19140 : 4/5th Vote: Grant to National Church of God, Inc.) Packet Pg. 32 3.3 SEOPW Board of Commissioners Meeting April 9, 2026 SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY INTER -OFFICE MEMORANDUM To: Board Chair Christine King and Members of the CRA Board From: James McQueen Executive Director Date: April 2, 2026 File: 19141 Subject: 4/5th Vote: Grant to Smoothie Girls 4 FL, LLC. Enclosures: File # 19141 - Exhibit A File # 19141 - Backup File # 19141 - Notice To The Public BACKGROUND: A Resolution of the Board of Commissioners of the Southeast Overtown/Park West Community Redevelopment Agency ("SEOPW 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 herein as Exhibit "A," that competitive negotiation methods and procedures are not practicable or advantageous, pursuant to Section(s) 18-85 and 18-86 of the Code of the City of Miami, Florida, as amended ("City Code"), as adopted by the SEOPW CRA, and waiving said procedures, awarding a grant, in an amount not to exceed Three Hundred Ten Thousand Dollars and Zero Cents ($310,000.00) ("Funds"), to Smoothie Girls 4 FL, LLC, a Florida Limited Liability Company ("Grantee"), with a principal address at 249 Northwest 6th Street, Suite 110C, Miami, Florida 33136 ("Property"), to underwrite costs associated with the design and construction build - out of the "Tropical Smoothie Cafe" at 249 Northwest 61h Street, Suite 102, Miami, Florida 33136 ("Purpose"). Smoothie Girls 4 FL, LLC, is a multi -brand, multi -unit franchise operator led by Dannie and Genese Augustin, who both bring over sixteen (16) years of franchise management experience. The brand currently owns and operates three (3) successful "Tropical Smoothie Cafe" locations across South Florida, each developed with a strong focus on quality, consistency, and community engagement. Smoothie Girls 4 FL, LLC, has maintained steady growth in a competitive market by offering nutritious, made -to -order menu items that appeal to residents, students, and working professionals. It is recommended that the Board of the SEOPW CRA approve and adopt the attached Resolution, authorizing the allocation of the Funds to the Grantee for the Purpose stated herein. JUSTIFICATION: Packet Pg. 33 3.3 Pursuant to Chapter 163, Florida Statutes, the Southeast Overtown/Park West Community Redevelopment Agency ("SEOPW CRA") is responsible for carrying out community redevelopment activities and projects within its redevelopment area ("Redevelopment Area") in accordance with the 2018 Updated Southeast Overtown/Park West Redevelopment Plan (the "Plan"). Section 163.340(9), Florida Statutes (the "Act"), community redevelopment means "undertakings, activities, or projects of a ... community redevelopment agency in a community redevelopment area for the elimination and prevention of the development or spread of slums and blight...." Section 2, Goal 4, of the Plan, lists the "creat[ion of] jobs within the community," as a stated redevelopment goal. Section 2, Goal 6, of the Plan, focuses on "improv[ing] the quality of life for residents," as a stated redevelopment goal. Lastly, Section 2, Principle 6, of the Plan, discusses "address[ing] and improv[ing] the neighborhood economy and expand[ing] the economic opportunities of present and future residents," as a stated redevelopment principle. FUNDING: $310,000.00 allocated from SEOPW "Other Grants and Aids" Account No. 10050.920101.883000.0000.00000. FACT SHEET: Entity name: Smoothie Girls 4 FL, LLC, a Florida Limited Liability Company Address: 249 N.W. 6`'' Street, Suite 102, Miami, FL 33136 Funding request: $310,000.00 Scope of work or services (Summary): To support the development of a restaurant build -out designed to appeal to local residents, downtown professionals, students, and health -conscious individuals seeking nutritious, affordable meal options in a fast -casual dining environment. Page 2 of 7 Packet Pg. 34 3.3 AGENDA ITEM FINANCIAL INFORMATION FORM SEOPW CRA CRA Board Meeting Date: April 9, 2026 CRA Section: Brief description of CRA Agenda Item: AWARDING A GRANT, IN AN AMOUNT NOT TO EXCEED THREE HUNDRED TEN THOUSAND DOLLARS AND ZERO CENTS ($310,000.00) ("FUNDS"), TO SMOOTHIE GIRLS 4 FL, LLC, A FLORIDA LIMITED LIABILITY COMPANY ("GRANTEE"), WITH A PRINCIPAL ADDRESS AT 249 NORTHWEST 6TH STREET, SUITE 110C, MIAMI, FLORIDA 33136 ("PROPERTY"), TO UNDERWRITE COSTS ASSOCIATED WITH THE DESIGN AND CONSTRUCTION BUILD -OUT OF THE "TROPICAL SMOOTHIE CAFE" AT 249 NORTHWEST 6TH STREET, SUITE 102, MIAMI, FLORIDA 33136 Project Number YES, there Account Code: (if applicable): are sufficient funds in Line Item: 10050.920101.8830000.0000.00000 Amount: $ 31 0 , 0 0 0.0 0 NO (Complete the following source of funds information): Amount budgeted in the line item: $ Balance in the line item: $ Amount needed in the line item: $ Sufficient funds will be transferred from the following line items: ACTION ACCOUNT NUMBER TOTAL Project No./Index/Minot Object From $ To $ From $ To $ Comments: Page 3 of 7 Packet Pg. 35 3.3 Approved by: Approval: Executive Director 4/2/2026 Miguel A Valcntirr, Finance Officer 4/2/2026 Page 4 of 7 Packet Pg. 36 3.3 Southeast Overtown/Park West Community Redevelopment Agency File Type: CRA Resolution Enactment Number: File Number: 19141 Final Action Date: A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("SEOPW 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 HEREIN AS EXHIBIT "A," THAT COMPETITIVE NEGOTIATION METHODS AND PROCEDURES ARE NOT PRACTICABLE OR ADVANTAGEOUS, PURSUANT TO SECTION(S) 18-85 AND 18-86 OF THE CODE OF THE CITY OF MIAMI, FLORIDA, AS AMENDED ("CITY CODE"), AS ADOPTED BY THE SEOPW CRA, AND WAIVING SAID PROCEDURES, AWARDING A GRANT, IN AN AMOUNT NOT TO EXCEED THREE HUNDRED TEN THOUSAND DOLLARS AND ZERO CENTS ($310,000.00) ("FUNDS"), TO SMOOTHIE GIRLS 4 FL, LLC, A FLORIDA LIMITED LIABILITY COMPANY ("GRANTEE"), WITH A PRINCIPAL ADDRESS AT 249 NORTHWEST 6TH STREET, SUITE 110C, MIAMI, FLORIDA 33136 ("PROPERTY"), TO UNDERWRITE COSTS ASSOCIATED WITH THE DESIGN AND CONSTRUCTION BUILD -OUT OF THE "TROPICAL SMOOTHIE CAFE" AT 249 NORTHWEST 6TH STREET, SUITE 102, MIAMI, FLORIDA 33136 ("PURPOSE"); AUTHORIZING THE EXECUTIVE DIRECTOR TO DISBURSE FUNDS, AT HIS DISCRETION, ON A REIMBURSEMENT BASIS OR DIRECTLY TO VENDORS, UPON PRESENTATION OF INVOICES AND SATISFACTORY DOCUMENTATION, SUBJECT TO THE AVAILABILITY OF FUNDING, FROM THE CORRESPONDING ACCOUNT NO. 10050.920101.883000.0000.00000 "OTHER GRANTS AND AIDS"; FURTHER AUTHORIZING THE EXECUTIVE DIRECTOR TO NEGOTIATE AND EXECUTE ANY AND ALL DOCUMENTS NECESSARY, ALL IN FORMS ACCEPTABLE TO COUNSEL, INCLUDING, BUT NOT LIMITED TO, A RESTRICTIVE COVENANT TO BE RECORDED IN THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA, FOR SAID PURPOSE; PROVIDING FOR THE INCORPORATION OF RECITALS AND AN EFFECTIVE DATE. WHEREAS, the Southeast Overtown/Park West Community Redevelopment Agency ("SEOPW CRA") is a community redevelopment agency created pursuant to Chapter 163, Florida Statutes, and is responsible for carrying out community redevelopment activities and projects within its Redevelopment Area in accordance with the 2018 Updated Southeast Overtown/Park West Community Redevelopment Plan ("Plan"); and WHEREAS, pursuant to Section 163.340(9), Florida Statutes, "community redevelopment means projects of a ... community redevelopment agency in a community redevelopment area for the elimination and prevention of the development or spread of slum and blight"; and Page 5 of 7 Packet Pg. 37 WHEREAS, Section 2, Goal 4, of the Plan, lists the "creat[ion of] jobs within the community," as a stated redevelopment goal; and WHEREAS, Section 2, Goal 6, of the Plan, focuses on "improv[ing] the quality of life for residents," as a stated redevelopment goal; and WHEREAS, Section 2, Principle 6, of the Plan, discusses "address[ing] and improv[ing] the neighborhood economy and expand[ing] the economic opportunities of present and future residents," as a stated redevelopment principle; and WHEREAS, Smoothie Girls 4 FL, LLC, a Florida Limited Liability Company ("Grantee"), has secured a prime commercial leased property located at 249 Northwest 6`" Street, Suite 102, Miami, FL 33136 ("Property"), where it has plans to undergo the design and construction build -out phase of the "Tropical Smoothie Cafe"; and WHEREAS, Grantee is requesting financial assistance, in an amount not to exceed Three Hundred Ten Thousand Dollars and Zero Cents ($310,000.00), to support the build -out phase ("Purpose"); and WHEREAS, the Board of Commissioners wishes to award grant funds, in an amount not to exceed Three Hundred Ten Thousand Dollars and Zero Cents ($310,000.00) ("Funds"), to the Grantee for said Purpose; and WHEREAS, the Board of Commissioners finds that adopting this Resolution would further the redevelopment goals and objectives of the SEOPW CRA; and WHEREAS, based on the recommendation and findings of the Executive Director, attached and incorporated herein as Exhibit "A," it is in the SEOPW CRA's best interest for the Board of Commissioners to authorize, by an affirmative four -fifths (4/5ths) vote, a waiver of competitive sealed bidding procedures, pursuant to Section(s) 18-85 and 18-86 of the Code of the City of Miami, Florida, as amended ("City Code"), as adopted by the SEOPW CRA, to allocate said Funds, subject to availability, and to authorize the Executive Director to negotiate and execute any and all agreements necessary, all in forms acceptable to Counsel, with Grantee for said Purpose. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY: Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by reference and incorporated herein as if fully set forth in this Section. Section 2. Pursuant to Section(s) 18-85 and 18-86 of the City Code, as adopted by the SEOPW CRA, by a four -fifths (4/5th) affirmative vote, after an advertised public hearing, the Executive Director's recommendation and written findings, attached and incorporated herein as Exhibit "A," that competitive negotiation methods and procedures are not practicable or advantageous to the SEOPW CRA, and waiving the requirements for said procedures, are hereby ratified, approved, and confirmed. Section 3. The Executive Director is hereby authorized' to disburse the Funds, at his discretion, on a reimbursement basis or directly to vendors, upon presentation of invoices and satisfactory ' The herein authorization is further subject to compliance with all legal requirements that may be imposed, including but not limited to those prescribed by applicable State law, City Charter and City Code provisions, as adopted by the SEOPW CRA. Page 6 of 7 Packet Pg. 38 3.3 documentation from Other Grants and Aids - Account No. 10050.920101.883000.0000.00000, subject to funding availability, for the Purpose stated herein. Section 4. The Executive Director is authorized' to negotiate and execute an agreement, including any and all necessary documents, all in forms acceptable to Counsel, for said Purpose. Section 5. Sections of this Resolution may be renumbered or re -lettered and corrections of typographical errors which do not affect the intent may be authorized by the Executive Director, or the Executive Director's designee, without need for public hearing, by filing a corrected copy of same with the City of Miami City Clerk. Section 6. This Resolution shall become effective immediately upon its adoption. APPROVED AS TO FORM AND LEGAL SUFFICIENCY: e B Counsel 4/2/2026 Page 7 of 7 Packet Pg. 39 3.R SEOPW Board of Commissioners Meeting April 9, 2026 THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY 4/5ths RECOMMENDATION INTER -OFFICE MEMORANDUM To: Board Chair Christine King and Date: April 9, 2026 File: Members of the SEOPW CRA Board Subject: Recommendations and findings to waive competitive sealed bidding and negotiation methods, pursuant to Sec. 18-85 and 18-86, for Smoothie Girls 4 FL, LLC. From: James D. McQueen Enclosures: Exhibit "A" Executive Director BACKGROUND: The Board of Commissioners ("Board") of the Southeast Overtown/Park West Community Redevelopment Agency ("SEOPW CRA") is responsible for carrying out community redevelopment activities and projects within its Redevelopment Area in accordance with the 2018 Updated SEOPW CRA Redevelopment Plan ("Plan"). Smoothie Girls 4 FL, LLC, a Florida Limited Liability Company ("Grantee"), is a multi -brand, multi -unit franchise operator led by Dannie and Genese Augustin, who brings over sixteen (16) years of franchise management experience. Grantee currently owns and operates three successful "Tropical Smoothie Cafe" locations across South Florida, each developed with a strong focus on quality, consistency, and community engagement. Grantee has maintained steady growth in a competitive market by offering nutritious, made -to -order menu items that appeal to residents, students, and working professionals. Grantee has now secured its fourth location at 249 Northwest 6th Street, Suite 102, Miami, Florida 33136 ("Property"), expanding its presence into the Overtown community. This strategic location aims to offer economic advantages for the venture, including proximity to major institutions, vibrant cultural demographics, and a bursting urban environment, further supporting continued clientele growth. In furtherance of its efforts, Grantee has submitted a request to the SEOPW CRA for financial assistance, in an amount not to exceed Three Hundred Ten Thousand Dollars and Zero Cents ($310,000.00) ("Funds") for build -out costs. It is recommended that the SEOPW CRA Board authorize the issuance of the Funds to Grantee for the Purpose stated herein. The Executive Director has reviewed and vetted the request, in accordance with the objectives of the Plan. RECOMMENDATION: In light of the above -stated, approval of a waiver of the formal requirements of competitive sealed bidding methods as not being practicable or advantageous to the SEOPW CRA as set forth in the City Code of Ordinances, as amended, specifically Section(s) 18-85 and 18-86, and the affirmation of these written findings and the forwarding the same to the SEOPW CRA Board by a four -fifths vote is respectfully requested. APPROVED James D. McQueen, Executive Director 1 Attachment: File # 19141 - Exhibit A (19141 : 4/5th Vote: Grant to Smoothie Girls 4 FL, LLC.) Packet Pg. 40 3.3.b January 20, 2026 Overtown Community Redevelopment Agency Miami, Florida RE: Grant Funding Request — Tropical Smoothie Cafe — Overtown Dear Members of the Overtown CRA Review Committee, Smoothie Girls 4 FL respectfully submits this request for $310,000 in grant funding to support the development of Tropical Smoothie Cafe — Overtown, located at 249 NW 6th Street, Suite 102, Miami, FL 33136. Smoothie Girls 4 FL is a multi -brand, multi -unit franchise ownership group led by Dannie and Genese Augustin, with a combined 16 years of franchise ownership and operational experience. The proposed Overtown cafe will be the company's fourth Tropical Smoothie Cafe and second in Miami -Dade County, representing a continued commitment to investing in local communities. The project will involve the complete interior build -out of a vanilla shell space, including kitchen installation, customer seating, ADA-compliant upgrades, life safety systems, and exterior signage. Construction is expected to begin in March 2026, with a projected opening in June 2026. This project aligns with the Overtown CRA's goals of economic revitalization and job creation. Upon opening, the cafe will create one full-time management position and approximately ten part-time jobs, with an emphasis on hiring local residents. The cafe will also expand access to healthy, affordable food options for Overtown residents, employees, and visitors. Grant funds in the amount of $310,000 will be used toward eligible build -out and equipment costs. Smoothie Girls 4 FL is further investing in the project through business loan financing to support inventory, smallwares, working capital, insurance, and operating systems. Thank you for your time and consideration. We respectfully request your favorable review of this application and welcome the opportunity to provide any additional information. Sincerely, Dannie Augustin Managing Member, Smoothie Girls 4 FL Genese Augustin Managing Member, Smoothie Girls 4 FL Attachment: File # 19141 - Backup (19141 : 4/5th Vote: Grant to Smoothie Girls 4 FL, LLC.) Packet Pg. 41 3.3.b Smoothie Girls 4 FL I Tropical Smoothie Cafe — Overtown Grant Request Package Address: 249 NW 6th St, Suite 102, Miami, FL 33136 Submitted by: Dannie and Genese Augustin, Owners Submission Date: January 20, 2026 Requested Amount: $310,000 1. Business Overview Smoothie Girls 4 FL is a multi -brand, multi -unit franchise operator led by Dannie and Genese Augustin, who collectively brings over 16 years of franchise management experience. The company currently owns and operates three successful Tropical Smoothie Cafe locations in South Florida, with the Overtown site being their fourth. This new cafe will be located at 249 NW 6th Street, Suite 102, Miami, FL 33136. At Smoothie Girls 4 FL, our mission is to empower healthier lifestyles by offering high -quality, made -to -order smoothies, wraps, and bowls. We aim to create an inviting, vibrant space that fosters community engagement, encourages wellness, and provides accessible, nutritious meal options for residents, professionals, and visitors alike. Target Market: The Overtown cafe will serve a diverse customer base, including local residents, downtown professionals, students, and health -conscious individuals seeking nutritious, affordable meal options in a fast -casual dining environment. This location represents an expansion, with an anticipated opening date of June 2026. 2. Project Details The project will transform a vanilla shell space into a fully functional Tropical Smoothie Cafe. The scope includes interior build -out, kitchen installation, customer seating, ADA compliance upgrades, fire alarm system installation, and signage. Scope of Work Includes: • Interior Build -Out: Comprehensive construction of the kitchen, dining, and seating areas to maximize space efficiency and enhance customer experience. Attachment: File # 19141 - Backup (19141 : 4/5th Vote: Grant to Smoothie Girls 4 FL, LLC.) Packet Pg. 42 • Kitchen Installation: Acquisition and installation of state-of-the-art commercial kitchen equipment tailored to meet the operational demands of the cafe. • ADA Compliance: All necessary modifications to ensure the cafe meets Americans with Disabilities Act (ADA) standards, providing accessibility for all customers. ▪ Fire Alarm and Safety Systems: Installation of fire alarm systems in full compliance with local regulations to ensure the safety of customers and staff. • Signage: Professional signage to enhance visibility and attract customers to the cafe. Lease Status: The lease for this space was executed December 9, 2024. Estimated Timeline: • Construction Start: March 2026 • Projected Opening: June 2026 3. Community Impact The Tropical Smoothie Cafe in Overtown will play an essential role in the neighborhood's revitalization efforts by contributing to local economic growth, job creation, and healthier lifestyle choices. Our business will create new employment opportunities and provide the community with nutritious meal options in a modern, convenient setting. Economic and Employment Impact: ▪ Job Creation: The project will create 1 full-time position and 10 part-time jobs, with a strong emphasis on hiring local talent from the Overtown community. • Local Economy: We anticipate that the cafe will contribute to increased foot traffic and local spending in the Overtown business district, supporting other local businesses in the area. Community Benefits: • Healthier Dining Options: By offering nutritious, made -to -order smoothies, bowls, and wraps, we will provide a healthy alternative to the fast food options that are often prevalent in urban areas. Attachment: File # 19141 - Backup (19141 : 4/5th Vote: Grant to Smoothie Girls 4 FL, LLC.) Packet Pg. 43 • Inclusive Employment: We are committed to hiring locally, providing jobs and training for community members in the Overtown area, which helps foster economic mobility. • Community Engagement: Smoothie Girls 4 FL plans to engage with local schools, community centers, and health -focused organizations to promote wellness and healthy eating habits. 4. Financial Summary Build -out $251,528 Fire Alarm System $12,500 Signage $4,736 Permit Fees $9,572 Equipment $25,664 Payment and Performance Bond $6,000 Total Project Cost $310,000.00 Requested Grant Assistance: We are seeking $310,000 to fully fund the project. This will cover all costs associated with the build -out, equipment, and necessary permits. Business Contribution: The owners, Dannie and Genese Augustin, will contribute $200,000 in the form of a loan to cover inventory, small equipment, working capital, insurance, and POS systems. Additional Funding Sources: We will also secure bank financing and owner investments to ensure the project is fully funded. 5. Supporting Documentation (Appendix) To support our application, we have assembled a comprehensive set of materials that provide further detail on the project and its feasibility. These documents demonstrate our preparation for the build -out and meet the requirements for review by the Overtown CRA. Included in Appendix: Attachment: File # 19141 - Backup (19141 : 4/5th Vote: Grant to Smoothie Girls 4 FL, LLC.) Packet Pg. 44 • Architectural Drawings: Detailed floor plans and elevations for the proposed Tropical Smoothie Cafe — Overtown build -out, including ADA compliance layout, kitchen, and seating configuration. • Equipment Quotes: Itemized quotes from approved Tropical Smoothie Cafe vendors covering kitchen equipment, refrigeration, POS systems, and installation costs. • Construction Quotes: General contractor estimates outlining the full scope of interior build -out, finishes, fire alarm system, and peilnitting. • Entity Registration: Verifying active registration for Smoothie Girls 4 FL. Additional items such as the executed lease agreement, W-9, and updated site photos will be provided as they become available. Conclusion Smoothie Girls 4 FL is poised to bring a high -quality, health -conscious dining option to the Overtown community, while contributing to the area's broader revitalization and economic development efforts. With 16 years of proven franchise management expertise, a commitment to community engagement, and a vision for promoting healthier lifestyles, we are confident that this project will have a meaningful, lasting impact. We appreciate your consideration of this grant request and look forward to the opportunity to contribute to the growth and success of the Overtown neighborhood. Attachment: File # 19141 - Backup (19141 : 4/5th Vote: Grant to Smoothie Girls 4 FL, LLC.) Packet Pg. 45 3.3.b Appendix A — Architectural Drawings a,:jR�}Fpp LL. PiIIl6III■oyl 71) OFFICE WIRING DETAIL OUTLET CONFIGURATION T-STAT LOCATIONS GENERAL NOTES SPEAKER LOCATIONS POWER AND CABLING REDS =—E 1 El R VIDEO SURVEILLANCE LOOS m'""a'""" �.. ..,., DATA OUTLET LOCATION Dustin Curtis Lu LV acc goy .7 r 18.0.412 REVISION A 0 A2.2 Attachment: File # 19141 - Backup (19141 : 4/5th Vote: Grant to Smoothie Girls 4 FL, LLC.) Packet Pg. 46 3.3.b T TT1l�l TriMark MARLINN Bill to: -ismommimmlomm , 7.__ - _n_:n` Project: Dustin Curtis GCE C3J .1 O t F From: Qu of ; 11/04/2625' A4.2 Tropical Smoothie Cafe #FL-412 FL-412 Miami - Walk-in, Ice, Refrig TriMark Marlinn LLC Dannie Augustin Only 11.4.25 Justin Chapman 249 Northwest 2nd Ave 249 Northwest 2nd Ave 6100 W. 73rd. St. Suite 301 Miami, FL 33136 Ste 1 Miami, FL 33136 Bedford Park, IL 60638 (850) 321-0591 (Contact) 630-308-8848 Item Qty **Prices may not reflect applicable tariffs. Any increase in costs resulting from tariffs shall be added to the total price included in this Quote. Trmark will provide advanced notice of any price increase due to tariffs** Description Sell Sell Total 1A.2 1 ea WALK COOLER/FREEZER Nor -Lake FAST-TRAK INDOOR Walk -In Cooler/Freezer Combination (2 compartments) 14' 0" long, 6' 0" wide, 7' 7" high. Finishes: 26 Gauge Corrosion Resistant Stucco Embossed Coated Steel - Interior wall, Exterior wall, Interior ceiling .100 Smooth Aluminum - Interior floor Foamed Sealer 4 3/8" for (1) Cooler (35.0°F) Freezer (-10.0°F) Details: (1) 30" X 78" Walk -In Door left-hand swing Includes door closer, cam lift hinges (one spring loaded on 36" wide and smaller doors), NL9800 deadbolt key/padlock handle with inside release, magnetic gasket, heater wire, double sweep gasket, LED vapor proof light, Heated Air Vent (standard on all freezer compartments) and NL508 combination digital thermometer and switch w/pilot light. (1) Standard Strip Curtain (1) CPF075PC-S-0* NEW CAPSULE PAK ECO'' -10° F Operation, Capsule -Pak Refrigeration System w/ Medium Size Opening, Indoor Only, Ceiling Mount, R-290 Refrigerant, 2.00 AWEF Rating, 115v Electrical, NEMA 5-20P Cord, 11.4 Total Amps With Integrated LogiTemp Controller ( system capacity 2900 BTU's/hour at 90.0"F ambient temperature.) Refrigeration is "sized" for holding product only (1) 75 Series - Optional Five Year Extended Compressor Warranty (1) 18 Month Labor/Service Warranty Cooler (35.0°F) Details: $25,664.00 $25,664.00 Attachment: File # 19141 - Backup (19141 : 4/5th Vote: Grant to Smoothie Girls 4 FL, LLC.) FL-412 Miami - Walk-in, Ice, Refrig Only 11.4.25 Tropical Smoothie Cafe #FL-412 Initial: Page 1 of 9 Packet Pg. 47 3.3.b Item TriMark Marlinn LLC Qty Description Sell 11/04/2025 Sell Total (1) 30" X 78" Walk -In Door left-hand swing Includes door closer, cam lift hinges (one spring loaded on 36" wide and smaller doors), NL9800 deadbolt key/padlock handle with inside release, magnetic gasket, heater wire, double sweep gasket, LED vapor proof light, Heated Air Vent (standard on all freezer compartments) and NL508 combination digital thermometer and switch w/pilot light. (1) Standard Strip Curtain (1) CPBOSOPC-S-0* NEW CAPSULE PAK ECG"' 35" F Operation, Capsule -Pak Refrigeration System w/ Medium Size Opening, Indoor Only, Ceiling Mount, R-290 Refrigerant, 5.61 AWEF Rating, 115v Electrical, NEMA 5-15P Cord, 6.9 Total Amps With Integrated LogiTemp Controller ( system capacity 4000 BTU's/hour at 90.0'F ambient temperature.) Refrigeration is "sized" for holding product only; (1) 50 To 60 Series - Optional Five Year Extended Compressor Warranty (1) 18 Month Labor/Service Warranty 1 ea Configuration **Freezer LEFT & Cooler RIGHT** 1 ea Both Doors Hinged *LEFT* ***NO RAMP and SELF-CONTAINED REFRIGERATION ON TOP OF BOX*** ***REQUIRES 11'0" CLEARANCE FOR REFRIGERATION*** ***INSTALL OF COOLER- BY GENERAL CONTRACTOR &/OR AUTHORIZED REFRIGERATION INSTALLER*** <By G/C> 21 1 ea ICE MAKER, NUGGET COMPRESSED Model No. 861094 Scotsman Prodigy*" Ice Maker, NUGGET° Style, air-cooled, self- contained condenser, up to 956-Ib production/24 hours, Auto - alert"' indicating lights, stainless steel finish, R-404A refrigerant, 208-230v/60/1-ph,12.2 amps **Cord and Plug provided by E.C./G.C.** 3 year parts & labor warranties 5 year parts on compressor $6,560.00 $6,560.00 21.1 1 ea ICE BIN Model No. 861095 Ice Bin, w/top-hinged front -opening door, up to 893-Ib ice storage capacity, for top -mounted ice maker, corrosion resistant metal alloy exterior, polyethylene liner, includes 6" legs $1,662.00 $1,662.00 21.2 1 ea ICE SANITIZER SYSTEM Model No. 861096 IMSB Guardian Ice Machine Sanitizer System By RGF. **Sanitizer wiring & plumbing will be Installed in Each Ice Machine $975.00 $975. 00 FL-412 Miami - Walk-in, Ice, Refrig Only 11.4.25 Tropical Smoothie Cafe #FL-412 Initial: Page 2 of 9 Attachment: File # 19141 - Backup (19141 : 4/5th Vote: Grant to Smoothie Girls 4 FL, LLC.) Packet Pg. 48 3.3.b Attachment: File # 19141 - Backup (19141 : 4/5th Vote: Grant to Smoothie Girls 4 FL, LLC.) Packet Pg. 49 3.3.b CARIBE SIGNS 12251 SW 128 CT #105 1,IIAMI,FL 33186 INVOICE '=8914 i;3te° t; ti F62 JOP Side.:249 NW 6 ST COIJSTOMER:Tropical Smoothie Cafe 249 NW 6 ST Suite 110C Miami:FL 33137 1- One set of Led Channel Letters to read " Tropical 16" Smoothie 10" CAFE 22" Mounted on a Raceway Painter in silver 2-Permit Runner fee is to be paid to Renato 950.00 3- All City permitb fee is to be paid by Coustomer TOTAL:4-736.00 50% DEPOSIT:2_ 368.00 BALANCE:2.3 68A FL-412 Miami - Walk-in, Ice, Refrig Only 11.4.25 Tropical Smoothie Cafe #FL-412 Initial: Page 3 of 9 Attachment: File # 19141 - Backup (19141 : 4/5th Vote: Grant to Smoothie Girls 4 FL, LLC.) Packet Pg. 50 3.3.b Appendix C — Construction Quotes TROPICAL SMOOTHIE PROJECT ESTIMATE # 25030039 PROJECT NAME TROPICAL SMOOTHIE CAFE ADDRESS 249 NW 6TH STREET DATE JULY72025 SCOPE OF WORK INTERIOR TENANT IMPROVEMENT OF A NEW SMOOTHIE CAFE LOCATED WITHIN SHELL BUILDING.STORE LICENSE NUMBER CGC1530787 ant battat,tel fall 249 NW 6TH SUITE 110C MIAMI, FL 33136 FL-412 CALI cons<<,croo cA batter: ST. MA F a r GENERAL CONDITIONS (01) $ 22,742.00 Insurance Superintendent Workers Comp. Project safety, such as equipment and supplies Tools and Equipment Dumpster Permits by Owner Miscelaneous expenses Cleaning Builder Risk by owner EXISTING CONDITIONS $ 5,980.00 Verification all existing conditions Debris disposal Asbestos by owner METALS (05):WOOD AND PLASTICS (06) AND THERMAL $ 12,540.00 Metal Frame all interior walls/soffits & hard ceilings by plans , dated 05/30/2025 Backing & Plywood Roof Penetration ( charged separtely if it is needed) OPENING AND WINDOWS (08) FINISHES (09) $ 82,184.60 DRYWALL 5/8 GYPSUM 5" Drywall Partition Full Height 7" Drywall Partition Full Height 5" Drywall Partition Half Height Attachment: File # 19141 - Backup (19141 : 4/5th Vote: Grant to Smoothie Girls 4 FL, LLC.) Packet Pg. 51 3.3.b CEILING BASEBOARD Armstrong ceiling WH Fine Fissured White 24"x24" Washable Vinyl White Ceiling 24"x48" Washable Vinyl White Ceiling 24524" B1 Stain Grade Pine 1"x4" strips special wealnut B2 3-5/8" Metal Stud Installed with Flanges Facing the wall, Shiny, non textured finish 20 cauge B3 Ceramic Cove Base White 3"x6" B4 Quarry Tile Base 5"x6" Sanded FRP FRP Panels FLOOR FT-1 Luxury Vinyl Plank Exoguard FT-2 Quarry Tile Ashen Gray PAINT Satin Paint Whitetail color Satin Paint Emotional color Satin Paint Breaktime color Ceiling Paint WOOD W1 1"x2" Trim Board Painted P-1 W2 Stain Grade Pine Painted P-1 W3 4' x 8' Bead Board Panel Painted P-1 W4 1"X4" Stnps Stain Grade fine fainted P-1 W5 1"x6" Knotty Pine Framing Grade Wood Planks Sherwin Williams W6 1"x6" Knotty Pine Framing Grade Wood Planks Sherwin Williams W7 1"x1" Knotty Pine Framing Grade Wood Planks Sherwin Williams Fire Rated Penetrations SPECIALTIES DIVISION (10) $ 2,600.00 Interior Signs / Restroom signs, restroom accessories Fire Extinguishers SPECIAL CONSTRUCTION (13) FIRE SPRINKLESS $ 7,425.00 This price is using our vendor, If we need to use landlord mandatory vendor will be adjusted FIRE ALARM By owner Mechanical Scope of Work 1-Fumish and insta I new single wall round outwork with exterior r6 2-Fumish and insta I new Supply/retum diffusers with flex connections 3-Re use existing 5 ton heat pump 4-Re use existing bathroom exhaust fan 14,675.00 Attachment: File # 19141 - Backup (19141 : 4/5th Vote: Grant to Smoothie Girls 4 FL, LLC.) Packet Pg. 52 3.3.b 5-Fumish and insta I new motorized fresh air damper with galvanized ductwork 6-Fumish and insta I new 7 day programable thermostat 7-Total labor with a I materials WALK IN COOLER/ FREEZER COMBO UNIT 6,755.00 Installation Only Note: (We can provide the combo unit with drawings for $44656.54) PLUMBING $ 44,656.54 OPTIONAL $ 18,530.00 Run new 1 1l2 cold water line and 1" +3/4 pipe (cpvc) Install new EWH mounted above MOP sink Install hot water line and hot water return Install backflow preventer (double check valve) Install and provide HW return pump Run new 3/4 condensate line Run new 3" inches vent pipe and provide 2" vent pipes branches for Install fixtures costumer provide Landlord will provide all waste pipe underground for bathrooms, floor Concrete slab not included Permit fees riot included orovie all olumbina materials If exceed more, price will increase, if it less price will be less. ELECTRICAL (16) $ 53,170.00 Lights as Allowance of $5,899.19 Based on Specified Package or Equal. Lights Installation & Power Switchgear Panel A & TX 45 KVA Feeders for above equipment's Power for Devices Fire Alarm Stub -Ups & Boxes if needed. LOW VOLTAGE - OPTIONAL $ -TP-Link TL-SG2428P JetStream 28-Port Gigabit Smart Switch with 24-Port PoE+ TP-Link ER7212PC Omada 3-in-1 Gigabit VPN Router TP TP-Link EAP650 AX3000 Ceiling Mount Wi-Fi 6 A -Link EAP650 AX3000 Ceiling Mount Wi-Fi 6 Access P ccess Point oin RA RACK ER18 18 Space Enclosed Rack w/ A CK ER1818 Space Enclosed Rack wl Activ ctive Cooling RA RACK L CK LAACEBAR Horiz CEBAR Horizontal Rack Lacer Bars (10 P ontal Rack Lacer Bars (10 Pack) ack) Furman D10-PFP 10-Outlet Rack -Mountable Power Distribution (No Surge Protection) Savant HST-SIPA1ECO-00 IP Audio 1 Ecosystem Host Elura R6.5LCRZ.2 Red Label Series 6.5" In -Ceiling Speaker (QTY 3) LLTN8716D-P16N TN8716D-P16N DHWD43PURZ LTCMIP1382WE-CMIP1382WE-28MDA (QTY 8) Labor and Installation of Camer Labor and Installation of Cameras (QTY 8) Labor and Installation of Speak Labor and Installation of Speakers (QTY Labor and Pr Labor and Programming Labor and Installation of netw Labor and Installation of network point ork points Cat6 s Cat (QTY 26) Sawant SSL ant SSL-IP-IPAUDIOE-1YR Sa AUDIOE-1YR Sawant $ 14,091.85 OPTIONAL SUBTOTAL $ 226,601.60 Attachment: File # 19141 - Backup (19141 : 4/5th Vote: Grant to Smoothie Girls 4 FL, LLC.) Packet Pg. 53 3.3.b 5-Furnish and insta I new motorized fresh air damper with galvanized ductwork 6-Furnish and insta I new 7 day programable thermostat 7-Total labor with a I materials WALK IN COOLER/ FREEZER COMBO UNIT 6,755.00 Installation Only Note: (We can provide the combo unit with drawings for $44656.54) $ 44,656.54 OPTIONAL PLUMBING $ 18,530.00 Run new 1 112 cold water line and 1" + 3/4 pipe (cpvc) nstall new EWH mounted above MOP sink nstall hot water line and hot water return nstall backflow preventer (double check valve) nstall and provide HW return pump Run new 3/4 condensate line Run new 3" inches vent pipe and provide 2" vent pipes branches for nstall fixtures costumer provide -andlord will provide all waste pipe underground for bathrooms, floor concrete slab not included ,ermit fees not included >rovie all plumbing materials f exceed more, price will increase, if it less price will be less. ELECTRICAL (16) $ 53,170.00 Lights as Allowance of $5,899.19 Based on Specified Package or Equal. Lights Installation & Power Switchgear Panel A & TX 45 INA Feeders for above equipment's Power for Devices Fire Alarm Stub -Ups & Boxes if needed. LOW VOLTAGE - OPTIONAL $ -TP-Link TL-SG2428P JetStream 28-Port Gigabit Smart Switch with 24-Port PoE+ TP-Link ER7212PC Omada 3-in-1 Gigabit VPN Router TP TP-Link EAP650 AX3000 Ceiling Mount Wi-Fi 6 A -Link EAP650 AX3000 Ceiling Mount Wi-Fi 6 Access P ccess Point pin RA RACK ER18 18 Space Enclosed Rack w/ A CK ER18 18 Space Enclosed Rack wl Activ ctive Cooling RA RACK L CK LAACEBAR Horiz CEBAR Horizontal Rack Lacer Bars (10 P ontal Rack Lacer Bars (10 Pack) ack) Furman D10-PFP 10-Outlet Rack -Mountable Power Distribution (No Surge Protection) Savant HST-SIPA1ECO-00 IP Audio 1 Ecosystem Host Elura R6.5LCRZ.2 Red Label Series 6.5" In -Ceiling Speaker (QTY 3) LLTN8716D-P16N TN8716D-P16N DHWD43PURZ LTCMIP1382WE-CMIP1382WE-28MDA (QTY 8) Labor and Installation of Gamer Labor and Installation of Cameras (QTY 8) Labor and Installation of Speak Labor and Installation of Speakers (QTY Labor and Pr Labor and Programming Labor and Installation of netw Labor and Installation of network point ork points Cat6 s Cat (QTY 26) Savant SSL ant SSL-IP-IPAUDIOE-1YR Sa AUDIOE-1YR Savant 14,091.85 OPTIONAL Is SUBTOTAL $ 226,601.60 Attachment: File # 19141 - Backup (19141 : 4/5th Vote: Grant to Smoothie Girls 4 FL, LLC.) Packet Pg. 54 3.3.b 3.5% Overhead $ 7,931.06 7.5% Contractor Fe $ 16,995.12 TOTAL $ 251,527.78 NOTE 1: As an Option we quoted the Walking Cooler/Freezer Combo and the Low Voltage. ALL WORK TO BE PERFORMED DURING NORMAL WORKING HOURS BUSINESS DAYS DUMSPTER LOCATION & ACCESS IS TO BE PROVIDED BY CLIENT NOT RESPONSIBLE FOR ANY EXISTING OR CONCEALED CONDITIONS ANY ITEMS NOT SPECIFIED IN THIS PROPOSAL ARE NOT TO BE ASSUMED INCLUDED ANY ALTERATION OR DEVIATION FROM THE ABOVE SPECIFICATION, INCLUDING BUT NOT LIMITED TO ANY SUCH ALTERATION OR DEVIATIOI CHANGE ORDERS WILL BE PAID 50% AT THE TIME OF REQUEST/ SECOND PAYMENT OF 50% WHEN JOB BE FINISHED. PAYMENTS ARE DUE NO MORE THAN 7 (SEVEN) DAYS FROM DATE OF INVOICE. IF PAYMENT IS NOT MADE WITHIN 14 (FOURTEEN) DAYS OF - IF IT IS ANY INCREASE ON MATERIAL THAT EXCEED THE 10% OF COST , NEEDS TO BE ASSUMED BY CUSTOMER ( HOWEVER, CALIMA INVES' NOT RESPONSIBLE OR LIABLE FOR WEATHER/PERMIT/INSPECTION/HOLIDAYS OR OTHER CONTRACTORS DELAYS. 20% OF CONTRACT FEE WILL CHARGED TO ANY SUBPERMIT TIED TO THE MASTER PERMIT ADDITIONAL DRAWINGS OR SHOP DRAWINGS AF By signing this document, the customer agrees to the services and conditions outlined in this document. Attachment: File # 19141 - Backup (19141 : 4/5th Vote: Grant to Smoothie Girls 4 FL, LLC.) Packet Pg. 55 3.3.b Tropical Smoothie Caffe October 30, 2025 Page 1 of 1 'Tropical Smoothie Caffe 249 NW 6'^ Street. Fire Alarm Proposal POWeR GO Ian Power Design is pleased to offer the following pricing for the Life Safety scope for this project as follows: Project Description Summary Project Location Project Type Miami, Florida Residential (Tied to the Main High -Rise building. Proposal Type Unit Built -out. Pricing Summary — Small Turnkey Fire Alarm System: Gamewell/FCI Installation of Fire Alarm Devices to meet code requirements. Programming of the main building's Fire Alarm Panel to reflect the changes corresponding to Tropical Smoothie Caffe. PDI will not program panel installed by others. Drawings: Provide a new set of drawings with updated backgrounds. Signed And Sealed by the EOR. Fire Alarm Inspection: Power Design Technician to be present during Fire Alarm Inspections and fulfill completion of the work. Equipment Rental: Lifts, pallet jacks, etc. Permitting, Permit and Inspections Fees: Excluded X X Total $ 12,500.00 Included X Payment Schedule On projects under $20,000 of total value, the total approved pricing proposal shall be paid in its totality up -front. Please contact the System team below with any questions. Lisset Carratala Fire Alarm Project Executive Imcarratala@powerdesigninc.us Marco Lobaina Fire Alarm Project Manager mlobaina@powerdesigninc.us Power Design Inc 11600 90 St North Saint Petersburg, FL 33716 GA #EN211276 Leonardo Pascual Systems Construction Manager Ipascual@powerdesigninc.us Attachment: File # 19141 - Backup (19141 : 4/5th Vote: Grant to Smoothie Girls 4 FL, LLC.) Packet Pg. 56 3.3.b Appendix D —Entity Registration Attachment: File # 19141 - Backup (19141 : 4/5th Vote: Grant to Smoothie Girls 4 FL, LLC.) Packet Pg. 57 3.3.b Electronic Articles of Organization For Florida Limited Liability Company Article I The name of the Limited Liability Company is: SMOOTHIE GIRLS 4 FL, LLC L24000238691 FILED 8:00 AM May 22 2024 Sec. Of' State crico Article II The street address of the principal office of the Limited Liability Company is: 3901 WEST BROWARD BLVD. UNIT 121394 FORT LAUDERDALE, FL. US 33312 The mailing address of the Limited Liability Company is: 3901 WEST BROWARD BLVD. UNIT 121394 FORT LAUDERDALE, FL. US 33312 Article III The name and Florida street address of the registered agent is: DANNIE AUGUSTIN 3901 WEST BROWARD BLVD. UNIT 121394 FORT LAUDERDALE, FL. 33312 Having been named as registered agent and to accept service of process for the above stated limited liability company at the place designated in this certificate, I hereby accept the appointment as registered agent and agree to act in this capacity. I further agree to comply with the provisions of all statutes relating to the proper and complete performance of my duties, and I am familiar with and accept the obligations of my position as registered agent. Registered Agent Signature: DANNIE AUGUSTIN Attachment: File # 19141 - Backup (19141 : 4/5th Vote: Grant to Smoothie Girls 4 FL, LLC.) Packet Pg. 58 3.3.b DIVISION OF CORPORATIONS ffiL/:,/.org tvtdD l j 'r,1:LPDI \fr'-[C) f: rue rrj/t+sra! Lillie of Fkuitln avkb iu Department of State / Division of Corporations / Search Records / Search by Entity Name / Detail by Entity Name Florida Limited Liability Company SMOOTHIE GIRLS 4 FL, LLC Filing Information Document Number FEI/EIN Number Date Filed Effective Date State Status Principal Address 249 NW 6th St UNIT 121394 Suite 110C Miami, FL 33136 L24000238691 33-2810551 05/22/2024 05/22/2024 FL ACTIVE Changed: 04/05/2025 Mailing Address 3901 WEST BROWARD BLVD. UNIT 121394 FORT LAUDERDALE, FL 33312 Registered Agent Name & Address AUGUSTIN, DANNIE 3901 WEST BROWARD BLVD. UNIT 121394 FORT LAUDERDALE, FL 33312 Authorized Person(a) Detail Name & Address Title MGR AUGUSTIN, DANNIE 3901 WEST BROWARD BLVD., UNIT 121394 FORT LAUDERDALE, FL 33312 Title MGR Attachment: File # 19141 - Backup (19141 : 4/5th Vote: Grant to Smoothie Girls 4 FL, LLC.) Packet Pg. 59 3.3.b AUGUSTIN, GENESE 3901 WEST BROWARD BLVD., UNIT 121394 FORT LAUDERDALE, FL 33312 Annual Reports Report Year Filed Date 2025 04/05/2025 Document Images 04/05/2025 -- ANNUAL REPORT View image in PDF format 05/22/2024 -- Florida Limited Liability View image in PDF format Florida Department of State, Division of Corporations Attachment: File # 19141 - Backup (19141 : 4/5th Vote: Grant to Smoothie Girls 4 FL, LLC.) Packet Pg. 60 3.3.c SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY PLEASE ALL TAKE NOTICE, the Board of Commissioners ("Board") of the Southeast Overtown / Park West Community Redevelopment Agency ("SEOPW CRA") will hold a Public Hearing meeting on Thursday, April 9, 2026, at 10:00 A.M., or anytime thereafter, in the City Commission chambers located at Miami City Hall, 3500 Pan American Drive, Miami, Florida 33133. The Board will consider the allocation of funding to Smoothie Girls 4 FL, LLC, a Florida Limited Liability Company ("Grantee"), to underwrite costs associated with the build -out of a health -conscious dining franchise within the SEOPW CRA area at 249 N.W. 6th Street, Suite 102, Miami, FL 33136. In accordance with the SEOPW CRA 2018 Redevelopment Plan Update ("Plan") and Section 163, Florida Statutes, the Board will consider awarding a grant to Grantee in an amount not to exceed Three Hundred Ten Thousand Dollars and Zero Cents ($310,000.00) to support the project build -out. All comments and questions with respect to the meeting and public participation should be addressed to James D. McQueen, Executive Director, or Vincent T. Brown, Esq., Staff Counsel/Deputy Director, at 819 N.W. 2nd Avenue, 3rd Floor, Miami, Florida 33136 or (305) 679-6800. This action is being considered pursuant to Section(s) 18-85 and 18-86 of the Code of the City of Miami, Florida as amended ("City Code"). The recommendation and findings to be considered in this matter are set forth in the proposed resolution and will be available as with the scheduled SEOPW CRA Board meeting or anytime thereafter in the City Commission chambers. The Board requests all interested parties be present or represented at the meeting, and may be heard with respect to any proposition before the Board in which it may take action. Should any person desire to appeal any decision of the Board with respect to any matter considered at this meeting, that person shall ensure that a verbatim record of the proceedings is made, including all testimony and evidence upon which any appeal may be based (F.S. 286.0105). Pursuant to CRA-R-24-0071, whenever a scheduled SEOPW CRA meeting is cancelled or is not held due to a lack of a quorum or other emergency, a special SEOPW CRA meeting will be automatically scheduled for the Tuesday immediately following the cancelled meeting. In the event of one of the aforementioned circumstances, the special meeting would be held on April 14, 2026, at 10:00 a.m., or anytime thereafter, in the City Commission chambers located at Miami City Hall, 3500 Pan American Drive, Packet Pg. 61 3.3.c Miami, Florida 33133. All of the scheduled agenda items from that cancelled meeting shall automatically be scheduled as an agenda item at the special SEOPW CRA meeting. The Clerk of the Board shall notify the public of the special meeting that is to take place by placing a notice of the special SEOPW CRA meeting at the entrance of City Hall, placing a notice on the SEOPW CRA's website, and, if feasible, placing an ad in a newspaper of general circulation before the special meeting on the immediately following Tuesday. There shall be no additional notice by publication required for any such scheduled agenda item that is moved to the special SEOPW CRA meeting. In accordance with the Americans with Disabilities Act of 1990, persons needing special accommodations to participate in this proceeding may contact the Office of the City Clerk at (305) 250-5361 (Voice), not later than two (2) business days prior to the proceeding. TTY users may call 711 (Florida Relay Service), not later than two (2) business days prior to the proceeding. Ad No. 43921 James D. McQueen, Executive Director Southeast Overtown/Park West Community Redevelopment Agency Packet Pg. 62 3.4 SEOPW Board of Commissioners Meeting April 9, 2026 SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY INTER -OFFICE MEMORANDUM To: Board Chair Christine King Date: April 2, 2026 and Members of the CRA Board File: 19142 From: James McQueen Executive Director Subject: 4/5th Vote: Grant to St. John Institutional Missionary Baptist Church, Inc. Enclosures: File # 19142 - Backup File # 19142 - Exhibit A File # 19142 - Notice To The Public BACKGROUND: A Resolution of the Board of Commissioners of the Southeast Overtown/Park West Community Redevelopment Agency ("SEOPW 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 herein as Exhibit "A," that competitive negotiation methods and procedures are not practicable or advantageous, pursuant to Section(s) 18-85 and 18-86 of the Code of the City of Miami, Florida, as amended ("City Code"), as adopted by the SEOPW CRA, and waiving said procedures, awarding a grant, in an amount not to exceed Nine Hundred Seventy - Five Thousand Dollars and Zero Cents ($975,000.00) ("Funds"), to St. John Institutional Missionary Baptist Church, Inc., a Florida Not -For -Profit Corporation ("Grantee"), to underwrite costs for urgent repair and rehabilitation, in accordance with 40-year recertification requirements, at 1328 Northwest 3'd Avenue, Miami, Florida 33136 ("Purpose"). St. John Institutional Missionary Baptist Church, a historic house of worship, has long served as a spiritual, cultural, and civic anchor in Overtown, providing worship services, community gatherings, outreach programs, and a safe place for residents of all ages. It is recommended that the Board of the SEOPW CRA approve and adopt the attached Resolution, authorizing the allocation of the Funds to the Grantee for the Purpose stated herein. JUSTIFICATION: Pursuant to Chapter 163, Florida Statutes, the Southeast Overtown/Park West Community Redevelopment Agency ("SEOPW CRA") is responsible for carrying out community redevelopment activities and projects within its redevelopment area ("Redevelopment Area") in accordance with the 2018 Updated Southeast Overtown/Park West Redevelopment Plan (the "Plan"). Packet Pg. 63 Section 163.340(9), Florida Statutes (the "Act"), community redevelopment means "undertakings, activities, or projects of a ... community redevelopment agency in a community redevelopment area for the elimination and prevention of the development or spread of slums and blight...." Section 2, Goal 1, of the Plan, lists the "preserv[ation of] historic buildings and community heritage," as a stated redevelopment goal. Lastly, Section 2, Principle 8, of the Plan, provides that "[o]lder buildings that embody the area's cultural past must be restored," as a stated redevelopment principle. FUNDING: $975,000.00 allocated from SEOPW "Other Grants and Aids" Account No. 10050.920101.883000.0000.00000. FACT SHEET: Entity name: St. John Institutional Missionary Baptist Church, Inc., a Florida Not -For -Profit Corporation Address: 1328 Northwest 3rd Avenue, Miami, Florida 33136 Funding Request: $975,000.00 Scope of work or services (Summary): To support urgent repairs and rehabilitation costs for the St. John Institutional Missionary Baptist Church, a historic house of worship. Page 2 of 7 Packet Pg. 64 3.4 AGENDA ITEM FINANCIAL INFORMATION FORM SEOPW CRA CRA Board Meeting Date: April 9, 2026 CRA Section: Brief description of CRA Agenda Item: AWARDING A GRANT, IN AN AMOUNT NOT TO EXCEED ($975,000.00) ("FUNDS"), TO ST. JOHN INSTITUTIONAL MISSIONARY BAPTIST CHURCH, INC., A FLORIDA NOT -FOR -PROFIT CORPORATION ("GRANTEE"), TO UNDERWRITE COSTS FOR URGENT REPAIR AND REHABILITATION, IN ACCORDANCE WITH 40-YEAR RECERTIFICATION REQUIREMENTS, AT 1328 NORTHWEST 3RD AVENUE, MIAMI, FLORIDA 33136 Project Number YES, there Account Code: (if applicable): are sufficient funds in Line Item: 10050.920101.883000.0000.00000 Amount: $ 9 7 5, 0 0 0.0 0 NO (Complete the following source of funds information): Amount budgeted in the line item: $ Balance in the line item: $ Amount needed in the line item: $ Sufficient funds will be transferred from the following line items: ACTION ACCOUNT NUMBER TOTAL Project No./Index/Minot Object From $ To $ From $ To $ Comments: Page 3 of 7 Packet Pg. 65 3.4 Approved by: Approval: Executive Director 4/2/2026 Miguel A Valcntirr, Finance Officer 4/2/2026 Page 4 of 7 Packet Pg. 66 3.4 Southeast Overtown/Park West Community Redevelopment Agency File Type: CRA Resolution Enactment Number: File Number: 19142 Final Action Date: A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("SEOPW 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 HEREIN AS EXHIBIT "A," THAT COMPETITIVE NEGOTIATION METHODS AND PROCEDURES ARE NOT PRACTICABLE OR ADVANTAGEOUS, PURSUANT TO SECTION(S) 18-85 AND 18-86 OF THE CODE OF THE CITY OF MIAMI, FLORIDA, AS AMENDED ("CITY CODE"), AS ADOPTED BY THE SEOPW CRA, AND WAIVING SAID PROCEDURES, AWARDING A GRANT, IN AN AMOUNT NOT TO EXCEED NINE HUNDRED SEVENTY-FIVE THOUSAND DOLLARS AND ZERO CENTS ($975,000.00) ("FUNDS"), TO ST. JOHN INSTITUTIONAL MISSIONARY BAPTIST CHURCH, INC., A FLORIDA NOT -FOR - PROFIT CORPORATION ("GRANTEE"), TO UNDERWRITE COSTS FOR URGENT REPAIR AND REHABILITATION, IN ACCORDANCE WITH 40-YEAR RECERTIFICATION REQUIREMENTS, AT 1328 NORTHWEST 3RD AVENUE, MIAMI, FLORIDA 33136 ("PURPOSE"); AUTHORIZING THE EXECUTIVE DIRECTOR TO DISBURSE FUNDS, AT HIS DISCRETION, ON A REIMBURSEMENT BASIS OR DIRECTLY TO VENDORS, UPON PRESENTATION OF INVOICES AND SATISFACTORY DOCUMENTATION, SUBJECT TO THE AVAILABILITY OF FUNDING, FROM THE CORRESPONDING ACCOUNT NO. 10050.920101.883000.0000.00000 "OTHER GRANTS AND AIDS"; FURTHER AUTHORIZING THE EXECUTIVE DIRECTOR TO NEGOTIATE AND EXECUTE ANY AND ALL DOCUMENTS NECESSARY, ALL IN FORMS ACCEPTABLE TO COUNSEL, INCLUDING, BUT NOT LIMITED TO, A RESTRICTIVE COVENANT TO BE RECORDED IN THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA, FOR SAID PURPOSE; PROVIDING FOR THE INCORPORATION OF RECITALS AND AN EFFECTIVE DATE. WHEREAS, the Southeast Overtown/Park West Community Redevelopment Agency ("SEOPW CRA") is a community redevelopment agency created pursuant to Chapter 163, Florida Statutes, and is responsible for carrying out community redevelopment activities and projects within its Redevelopment Area in accordance with the 2018 Updated Southeast Overtown/Park West Community Redevelopment Plan ("Plan"); and WHEREAS, pursuant to Section 163.340(9), Florida Statutes, "community redevelopment means projects of a ... community redevelopment agency in a community redevelopment area for the elimination and prevention of the development or spread of slum and blight"; and Page 5 of 7 Packet Pg. 67 3.4 WHEREAS, Section 2, Goal 1, of the Plan, lists the "preserv[ation] of historic buildings and community heritage," as a stated redevelopment goal; and WHEREAS, Section 2, Principle 8, of the Plan, provides that "[o]lder buildings that embody the area's cultural past should be restored," as a stated redevelopment principle; and WHEREAS, St. John Institutional Missionary Baptist Church, Inc., a Florida Not -For -Profit Corporation ("Grantee"), owns St. John Institutional Missionary Baptist Church, a house of worship, located at 1328 Northwest 3`a Avenue, Miami, Florida 33136 (the "Property"); and WHEREAS, the Property serves as a spiritual, cultural, and civic anchor in Overtown and is is in need of urgent repairs and rehabilitation, and to satisfy 40-year recertification requirements; and WHEREAS, Grantee is requesting financial assistance, in an amount not to exceed Nine Hundred Seventy -Five Thousand Dollars and Zero Cents ($975,000.00), to underwrite costs associated with urgent repairs and improvements needed at the Property, which includes 40-year recertification, hurricane impact windows, HVAC replacement, re -roofing, termite and mold treatment, and tenting, as well as soft costs ("Purpose"); and WHEREAS, the Board of Commissioners wishes to award grant funds, in an amount not to exceed Nine Hundred Seventy -Five Thousand Dollars and Zero Cents ($975,000.00) ("Funds"), for the Purpose stated herein; and WHEREAS, the Board of Commissioners finds that adopting this Resolution would further the redevelopment goals and objectives of the SEOPW CRA; and WHEREAS, based on the recommendation and findings of the Executive Director, attached and incorporated herein as Exhibit "A," it is in the SEOPW CRA's best interest for the Board of Commissioners to authorize, by an affirmative four -fifths (4/5ths) vote, a waiver of competitive sealed bidding procedures, pursuant to Section(s) 18-85 and 18-86 of the Code of the City of Miami, Florida, as amended ("City Code"), as adopted by the SEOPW CRA, to allocate said Funds, subject to availability, and to authorize the Executive Director to negotiate and execute any and all agreements necessary, all in forms acceptable to Counsel, with Grantee for said Purpose. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY: Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by reference and incorporated herein as if fully set forth in this Section. Section 2. Pursuant to Section(s) 18-85 and 18-86 of the City Code, as adopted by the SEOPW CRA, by a four -fifths (4/5th) affirmative vote, after an advertised public hearing, the Executive Director's recommendation and written findings, attached and incorporated herein as Exhibit "A," that competitive negotiation methods and procedures are not practicable or advantageous to the SEOPW CRA, and waiving the requirements for said procedures, are hereby ratified, approved, and confirmed. Section 3. The Executive Director is hereby authorized' to disburse the Funds, at his discretion, on a reimbursement basis or directly to vendors, upon presentation of invoices and satisfactory ' The herein authorization is further subject to compliance with all legal requirements that may be imposed, including but not limited to those prescribed by applicable State law, City Charter and City Code provisions, as adopted by the SEOPW CRA. Page 6 of 7 Packet Pg. 68 3.4 documentation from Other Grants and Aids - Account No. 10050.920101.883000.0000.00000, subject to funding availability, for the Purpose stated herein. Section 4. The Executive Director is authorized' to negotiate and execute an agreement, including any and all necessary documents, all in forms acceptable to Counsel, for said Purpose. Section 5. Sections of this Resolution may be renumbered or re -lettered and corrections of typographical errors which do not affect the intent may be authorized by the Executive Director, or the Executive Director's designee, without need for public hearing, by filing a corrected copy of same with the City of Miami City Clerk. Section 6. This Resolution shall become effective immediately upon its adoption. APPROVED AS TO FORM AND LEGAL SUFFICIENCY: V;icer. T Bro\Ar, Giarr Counsel 4/2/2026 Page 7 of 7 Packet Pg. 69 3.4.a sT JOHN INSTITUTIONAL MISSIONARY BAPTIST CHURCH March 11, 2026 Dear Commissioner King, Greetings. I hope this message finds you well. I am writing on behalf of St. John Baptist Church. We respectfully request your consideration for financial assistance as we approach the final phase of our sanctuary renovation and 40-year recertification. We are approximately six months away from completion, but the project is currently stalled due to a remaining funding gap of $1,187,105.00. See attached proposal. To date, St. John Baptist Church has invested over $800,000 of our own church funds into this renovation. This investment reflects our deep commitment to preserving our historic place of worship and ensuring it continues to serve not only our congregation but the broader Overtown community. Unfortunately, without additional support, we are unable to move forward and bring this important project to completion. The renovation of our sanctuary is vital to our members and to the surrounding community. St. John Baptist Church has long served as a spiritual, cultural, and civic anchor in Overtown, providing worship services, community gatherings, outreach programs, and a safe space for residents of all ages. Completing this project will allow us to fully restore these services and expand our ability to serve the community with dignity and pride. We would be honored to meet with you or your staff to discuss the project in greater detail and explore any potential funding opportunities or resources that may be available. Your leadership and continued support of Overtown mean a great deal to our congregation, and we are hopeful you may be able to assist us during this critical final stage. Thank you for your time, consideration, and ongoing commitment to the people of Overtown. We look forward to the opportunity to speak with you further. Please contact me at spencedarry167ayahoo.com or (786) 314-2561. With gratitude, ( `DarryU T. Spence Chairman, Trustee Ministry St. John Baptist Church Attachment: File # 19142 - Backup (19142 : 4/5th Vote: Grant to St. John Institutional Missionary Baptist Church, Inc.) Packet Pg. 70 3.4.a BOFAM CONSTRUCTION COMPANY, INC General Contractors, Estimators & Roofing Contractors CGC 062660 & CCC 1329221 (Certified DBE, CSBE, SECTION 3) TEL: (754) 245-0102 FAX: (305) 675-9269 AUSTIN@BOFAMINC.COM Date: March 23, 2026 Proposal: # B26-003 To: St. John Institutional Missionary Baptist Church, Inc. 1328 NW 3rd Avenue, Miami, FL 33136 786-489-1935 (Tel) 305-000-0000 (Fax) E-mail: Spencedarry167@yahoo.com Attention: Mr. Darryl, We appreciate the opportunity to submit a proposal on your firm's project. If you have any questions, please do not hesitate to contact me on (754) 245 — 0102. Respectfully, Austin Akinrin 1600 N.W 3RD AVENUE, BLDG. D4 MIAMI, FL 33136 Project: St. John Church Rehabilitation, Renovation & Remodeling (Phase II) Location: 1328 NW 3rd Avenue, Miami, FL 33136 Scope of Work: Renovation: Proposal includes Permits, Demolition, Concrete work, Masonry, Drywall framing & finish, Wood & plastics, doors & windows, Glass/glazing, Electrical, Plumbing, AC replacement, Fire alarms system, Cabinets, Fixtures & fittings, painting & baseboard, and Interior finishes (ceiling, wall & floors), Existing bathroom upgrades, Works to be performed in accordance with the Florida building codes and regulations. Base Price: St. John Church Renovation, Remodeling & 40-Yrs Recertification Permit fees, Bonding, Builder's risk, and AHJ fees. (If required) $870,000.00 $105,000.00 GRAND TOTAL $975,000.00 Special Notes: This is a preliminary proposal pending final plan reviews and approvals by all government agencies having jurisdiction. All changes required by the building agencies having jurisdiction shall be the owner's responsibilities. Payment Schedule: TBD This proposal may be withdrawn and/or revised in (Fifteen) 15 days. If not accepted the undersigned owner accepts the above job at the price quoted and agrees to pay for said work as it progresses or as per the agreed payment schedule specified herein. In the event of legal dispute, if any sums due are collected by suit or demand of an attorney or collection agency then the defaulting party shall pay all costs, including reasonable attorney's fees. Sincerely, Austin Akinrin, President. Attachment: File # 19142 - Backup (19142 : 4/5th Vote: Grant to St. John Institutional Missionary Baptist Church, Inc.) Page 1 of 2 Packet Pg. 71 3.4.a BOFAM CONSTRUCTION COMPANY, INC General Contractors, Estimators & Roofing Contractors CGC 062660 & CCC 1329221 (Certified DBE, CSBE, SECTION 3) TEL: (754) 245-0102 FAX: (305) 675-9269 AUSTIN@BOFAMINC.COM 1600 N.W 3RD AVENUE, BLDG. D4 MIAMI, FL 33136 ACCEPTANCE OF PROPOSAL: The above prices, specifications and conditions are satisfactory and accepted. You are authorized to do the work as Specified and payments will be made as described above. Date of Acceptance; / 2026 Signature: Attachment: File # 19142 - Backup (19142 : 4/5th Vote: Grant to St. John Institutional Missionary Baptist Church, Inc.) Page 2 of 2 Packet Pg. 72 3.4.a Budget Summary St. John MB Church - 40-Years Recertification Renovation & Remodeling All Work is to be performed on the Church buildings located at 1328 NW 3rd Avenue, Miami, FL 33136 Church Renovation, Remodeling, and Rehabilitation $420,605.00 • Repair church for 40-Years structural and electrical recertification • Remove all mold infested drywall in the basement and repair • Supply and install new mold resistance drywall, and duroc appropriately. • Prepare and install new drywall, tape, compound, and finish to match. • Install floor tiles and baseboard in all rooms, bathrooms and around baptismal pool area • Install all new interior doors with hardware and lockset complete • Basement - Demolish existing glass wall office and create a new office complete • Alterations to the front sanctuary/pulpit area including new handrails and steps • Convert an office to a new accessible ADA Bathroom with AOR revised plans • All basement flooring to be redone with new epoxy flooring throughout the floor area • Renovate and repair existing baptismal pools including plumbing and working drains • Supply and install new auditorium floor carpets and tiles including the sanctuary and choir areas • Prepare, prime and paint one (1) coat primer and two (2) coats Sherwin Williams (Low VOC) paint 40- Years Recertification Repairs $ 82,400.00 • Beam Crack/ spalling to be repaired • Demolition Slab spalling to be repaired • Column crack and spalling to be repaired • Brick cracks, chippings and broken to be repaired • Water damaged areas in basement and auditorium to be repaired. • Walls stucco to be repaired in all visible areas. • All branch circuits to be labelled and identified. • Repair existing equipment, grounding rods, and strap equipment. • Per revised plans, connect underground service hand hole to FPL pole. HVAC Replacement $205,700.00 • Engineering Design: Provide HVAC and Electrical design required for permitting. • Demolition: Disconnect existing cooling tower and electrical system, provide crane equipment to remove the entire unit. • Disposal: Dispose of the existing system appropriately. • New Installation: • Install new one (1) Carrier packaged air handling units, Model # 39LA25AA-LQ-AEK2A9 • Install new one (1) 40 Ton Carrier air-cooled condensing unit, Model # 38RCS04053-3D000 • Install three (3) separate thermostats for easy access and control. • Clean existing ductwork and steel supports accordingly, • Install and charge new refrigerant, conduct test and balance for all equipment. Attachment: File # 19142 - Backup (19142 : 4/5th Vote: Grant to St. John Institutional Missionary Baptist Church, Inc.) 1 Packet Pg. 73 3.4.a Re -Roofing (Built-up Membrane Reroof) $103,395.00 • Provides permits, labor, and materials to replace existing Membrane roofs. • Remove existing roofs to wood decks, including parapet walls. • Supply and install new Built-up Membrane • Replace new vent stacks, flashings, and edge drip. • Install with UL label on package and MDC Product Control Division as per manufacturer's specs and county codes. • Supply and install new gutters and downspouts to replace damaged and missing gutters. Termite and Mold treatment & Tenting • Mold was determined to be present in the basement. • Bofam will treat and abate mold found in the basement • Termite was determined to be present in building. • Recommend termite survey in all the rooms and on the property. • Bofam will treat subterranean termites and tent the entire church. $ 57,900.00 SUBTOTAL Soft Cost Permit fees, Bonding, Builder's risk, and AHJ fees. (If required) $870,000.00 $105,000.00 GRANT TOTAL $975,000.00 END OF SECTION Attachment: File # 19142 - Backup (19142 : 4/5th Vote: Grant to St. John Institutional Missionary Baptist Church, Inc.) 2 Packet Pg. 74 Detail by Entity Name Florida Not For Profit Corporation ST. JOHN INSTITUTIONAL MISSIONARY BAPTIST CHURCH, INC. Filing Information Document Number 752763 FEUEIN Number 59-2006578 Date Filed 06/03/1980 State FL Status ACTIVE Last Event AMENDMENT Event Date Filed 07/21/1988 Event Effective Date NONE Principal Address 1328 N.W. 3RD AVE. MIAMI, FL 33136 Changed: 04/03/2007 Mailing Address P.O. BOX 523431 MIAMI, FL 33152 Changed: 01 /21 /2022 Registered Agent Name & Address ROBINSON-DUFFIE, CECILYATTY 13499 Biscayne Boulevard Suite 210 North Miami, FL 33181 3.4.a Attachment: File # 19142 - Backup (19142 : 4/5th Vote: Grant to St. John Institutional Missionary Baptist Church, Packet Pg. 75 Name Changed: O6/09/2008 3.4.a Address Changed: 04/28i2023 Officer/Director Detail Name &Address Title Director ANDERSON, MICHAEL 1448 NW 42 STREET MIAMI, FL 33142 Title President SPENCE; DARRYL 1038 NW 41 STREET MIAMI, FL 33127 Title Treasurer HUDSON, EDDIE L 1310 NW 85 WAY Pembroke Pines, FL 33024 Title Secretary FORTSON, ROBERTA 525 NW 19 Street Miami, FL 33138 Attachment: File # 19142 - Backup (19142 : 4/5th Vote: Grant to St. John Institutional Missionary Baptist Church, Title VP Packet Pg. 76 ROBBINS; SHAMAR Z 250 NW 13 STREET APT. 100 Miami, FL 33/ 36 Title Director PEEPLES; JOHNNY 3389 NW 49 STREET Miami, FL 33142 Title Director ROBINSON-DUFFIE, CECILY 13499 Biscayne Boulevard Suite 210 North Miami, FL 33181 Annual Reports Report Year Filed Date 2023 04/28/2023 2024 04/30/2024 2025 04/29/2025 3.4.a Attachment: File # 19142 - Backup (19142 : 4/5th Vote: Grant to St. John Packet Pg 77 3.4.a ST.JOHN HISTORY OF THE CHURCH AND RENOVATION PROJECT On June 17, 1906 at the corner of NW 2nd Avenue and 11th Terrace, a small group was called together for worship. They initially called this congregation Second Baptist Church. The membership later moved to Jackson's Hall on 10th Street between 2nd and 3rd Avenue. The members considered plans for a permanent location. After purchasing a lot at 12th Street and 3rd Avenue, construction began on a 50 X 48 foot frame building. The congregation moved into this building on the third Sunday in February 1908. In 1912, Rev. Jarius Wilkerson Drake joined the church and assumed leadership of the church on the first Sunday in February. The initial church building was damaged and wrecked during storms in 1926 and 1928, but was remodeled. This membership outgrew the structure under Rev. Drake's leadership, and the congregation purchased a larger site to accommodate the membership. The current structure at 1328 Northwest 3 Avenue was designed by architects McKissack & McKissack (an African -American owned firm) in Moderne style and was completed in 1940. On April 17, 1992, it was added to the U.S. National Register of Historic Places. During the tenure of Rev. Thedford Johnson, the church's Fellowship Hall was built. This structure became renowned in the 70s and 80s as "ground zero" of civic and political affairs in the City of Miami, with the Pastor and church hosting weekly "Political Breakfasts", providing a platform for politicians and community leaders to address the constituents of Overtown and Greater Miami. Beginning in the 1990's, the Fellowship Hall was utilized as the distribution center for the church's pantry which provided free groceries to the community's underserved population each week. The church's daycare — one of the first in Miami — was opened in order to serve local families with reliable childcare for their children while their parents worked. This center has been a beacon of light for more than six decades and has served generations of children and families. Thousands of local residents reflect fondly upon their education at St. John's daycare and credit it with providing them with the scholastic foundation which later catapulted them to career success. St. John's commitment to children and youth extends far beyond its daycare. The church has previously hosted its "Faith, Feast, and Fun Festival" which invited all of Overtown to an afternoon of wholesome and safe activities, and now has its annual Hallelujah Party each fall and Vacation Bible School Block Party each summer for local residents. These multi -cultural events are filled with music, games, and entertainment. Similarly, St. John has gained notoriety for its annual Vacation Bible School, which pre -pandemic enrollment exceeded three hundred youth. The church embraces the opportunity to welcome children of Attachment: File # 19142 - Backup (19142 : 4/5th Vote: Grant to St. John Institutional Missionary Baptist Church, Inc.) Packet Pg. 78 3.4.a all ages to a week of free bible curriculum, arts and crafts, physical education, and a hot breakfast and lunch. Teen students publish a daily newsletter and make daily posts to the church's social media. The church is always open to innovative opportunities to serve the community. Portable restrooms and showers were placed on the parking lot during the pandemic to afford unhoused neighbors access to refresh themselves. Social workers were provided space to meet with clients to assist them with needed social services. Additionally, St. John's clothing ministry has operated for more than 20 years, providing clothing and toys to families in need. Rev. Henry Nevin who became Senior Pastor in 1986 introduced the idea of having a Community Development Corporation to assist in rehabilitating subsidized housing for the poor and building median income housing for the community. The St. John CDC is not only the first local CDC, but remains at the forefront in providing affordable housing for Overtown residents. In April 2010, Bishop James Dean Adams became Senior Pastor of St. John and served until December 2021. His tenure included an increased commitment to community service, and he served as a liaison between the City of Miami Police and the residents. The church initiated its renovation of the 85-year-old sanctuary in 2014. The initial contract was for less than $200,000.00, and the work was projected to span several months. However, the age of the structure led to the discovery of multiple necessary repairs and upgrades. Ultimately, the Covid-19 Pandemic and a change in the church's leadership led to a several -year stall in construction, further enhancing the breadth of the required repairs. Twelve years later, the church has expended more than $1,000,000.00 and finds that it is lacking at least $900,000.00 to bring the building to completion. For 116 years, St. John has steadfastly served the Miami community, providing a sanctuary of faith, hope, and unity. Its rich history and contributions have greatly enriched the lives of countless individuals and families, fostering a spirit of community and compassion. Attachment: File # 19142 - Backup (19142 : 4/5th Vote: Grant to St. John Institutional Missionary Baptist Church, Inc.) Packet Pg. 79 3.4.a ri '1 I 1 .11" Si j OHN s s , A R Y NSTITUTEC PRE -RESTORATION 2010 2021 z _c .(1) as ra .*] _c no. Ico 2 co 0,1 O. CO CO ?Tr) 4:k _c ;rt Packet Pg. 80 3.4.a Si J OHN mISSI () ••: A R Y NSTITUTEC NAL RECENT PROGRESS 1!11 !; 111111111 • -E_ 1".11 +IL irmiir101111 1 Packet Pg. 81 I ri '1 I 1 S' 3.4.a ST OHN ItiSTITLITICNAL. tVISSI0 A RECENT PROGRESS 111 b Packet Pg. 82 3.4.b SEOPW Board of Commissioners Meeting April 9, 2026 THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY 4/5ths RECOMMENDATION INTER -OFFICE MEMORANDUM To: Board Chair Christine King and Date: April 9, 2026 File: Members of the SEOPW CRA Board Subject: Recommendations and findings to waive competitive sealed bidding and negotiation methods, pursuant to Sec. 18-85 and 18-86, for St. John Institutional Missionary Baptist Church, Inc. From: James D. McQueen Enclosures: Exhibit "A" Executive Director BACKGROUND: The Board of Commissioners ("Board") ofthe Southeast Overtown/Park West Community Redevelopment Agency ("SEOPW CRA") is responsible for carrying out community redevelopment activities and projects within its Redevelopment Area in accordance with the 2018 Updated SEOPW CRA Redevelopment Plan ("Plan"). St. John Institutional Missionary Baptist Church, Inc., a Florida Not -For -Profit Corporation ("Grantee"), has submitted a request for financial assistance for renovation, remodeling and 40-year recertification repairs of the St. John Institutional Missionary Baptist Church, a house of worship, located at 1328 Northwest 3rd Ave, Miami, FL 33136 (the "Property"). The SEOPW CRA desires to provide funding, in an amount not to exceed Nine Hundred Seventy -Five Thousand Dollars and Zero Cents ($975,000.00) ("Funds"). The St. John Institutional Missionary Baptist Church has long served as a spiritual, cultural, and civic anchor in Overtown, providing worship services, community gatherings, outreach programs, and a safe place for residents of all ages. The church requires renovation, remodeling, and rehabilitation, 40-year recertification repairs, hurricane impact windows, HVAC replacement, re-roofmg, termite and mold treatment and tenting. It is recommended that the SEOPW CRA Board authorize the issuance of the Funds to Grantee for the Purpose stated herein. The Executive Director has reviewed and vetted the request, in accordance with the objectives of the Plan. RECOMMENDATION: In light of the above -stated, approval of a waiver of the formal requirements of competitive sealed bidding methods as not being practicable or advantageous to the SEOPW CRA as set forth in the City Code of Ordinances, as amended, specifically Section(s) 18-85 and 18-86, and the affirmation of these written fmdings and the forwarding the same to the SEOPW CRA Board by a four -fifths vote is respectfully requested. APPROVED James D. McQueen, Executive Director 1 Attachment: File # 19142 - Exhibit A (19142 : 4/5th Vote: Grant to St. John Institutional Missionary Baptist Church, Inc.) Packet Pg. 83 3.4.c SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY PLEASE ALL TAKE NOTICE, the Board of Commissioners ("Board") of the Southeast Overtown / Park West Community Redevelopment Agency ("SEOPW CRA") will hold a Public Hearing meeting on Thursday, April 9, 2026, at 10:00 A.M., or anytime thereafter, in the City Commission chambers located at Miami City Hall, 3500 Pan American Drive, Miami, Florida 33133. The Board will consider the allocation of funding to St. John Institutional Missionary Baptist Church, Inc., a Florida Not -For -Profit Corporation ("Grantee"), to underwrite costs for 40-year recertification repairs and rehabilitation of the St. John Institutional Missionary Baptist Church, a historic building in Overtown, located at 1328 N.W. 3rd Ave, Miami, Florida 33136. In accordance with the SEOPW CRA 2018 Redevelopment Plan Update ("Plan") and Section 163, Florida Statutes, the Board will consider awarding a grant to Grantee in an amount not to exceed Nine Hundred Seventy -Five Thousand Dollars and Zero Cents ($975,000.00). All comments and questions with respect to the meeting and public participation should be addressed to James D. McQueen, Executive Director, or Vincent T. Brown, Esq., Staff Counsel/Deputy Director, at 819 N.W. 2nd Avenue, 3rd Floor, Miami, Florida 33136 or (305) 679-6800. This action is being considered pursuant to Section(s) 18-85 and 18-86 of the Code of the City of Miami, Florida as amended ("City Code"). The recommendation and findings to be considered in this matter are set forth in the proposed resolution and will be available as with the scheduled SEOPW CRA Board meeting or anytime thereafter in the City Commission chambers. The Board requests all interested parties be present or represented at the meeting, and may be heard with respect to any proposition before the Board in which it may take action. Should any person desire to appeal any decision of the Board with respect to any matter considered at this meeting, that person shall ensure that a verbatim record of the proceedings is made, including all testimony and evidence upon which any appeal may be based (F.S. 286.0105). Pursuant to CRA-R-24-0071, whenever a scheduled SEOPW CRA meeting is cancelled or is not held due to a lack of a quorum or other emergency, a special SEOPW CRA meeting will be automatically scheduled for the Tuesday immediately following the cancelled meeting. In the event of one of the aforementioned circumstances, the special meeting would be held on April 14, 2026, at 10:00 a.m., or anytime thereafter, in the Attachment: File # 19142 - Notice To The Public (19142 : 4/5th Vote: Grant to St. John Institutional Missionary Baptist Church, Inc.) Packet Pg. 84 3.4.c City Commission chambers located at Miami City Hall, 3500 Pan American Drive, Miami, Florida 33133. All of the scheduled agenda items from that cancelled meeting shall automatically be scheduled as an agenda item at the special SEOPW CRA meeting. The Clerk of the Board shall notify the public of the special meeting that is to take place by placing a notice of the special SEOPW CRA meeting at the entrance of City Hall, placing a notice on the SEOPW CRA's website, and, if feasible, placing an ad in a newspaper of general circulation before the special meeting on the immediately following Tuesday. There shall be no additional notice by publication required for any such scheduled agenda item that is moved to the special SEOPW CRA meeting. In accordance with the Americans with Disabilities Act of 1990, persons needing special accommodations to participate in this proceeding may contact the Office of the City Clerk at (305) 250-5361 (Voice), not later than two (2) business days prior to the proceeding. TTY users may call 711 (Florida Relay Service), not later than two (2) business days prior to the proceeding. Ad No. 43920 James D. McQueen, Executive Director Southeast Overtown/Park West Community Redevelopment Agency Attachment: File # 19142 - Notice To The Public (19142 : 4/5th Vote: Grant to St. John Institutional Missionary Baptist Church, Inc.) Packet Pg. 85 3.5 SEOPW Board of Commissioners Meeting April 9, 2026 SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY INTER -OFFICE MEMORANDUM To: Board Chair Christine King and Members of the CRA Board From: James McQueen Executive Director Date: April 2, 2026 File: 19143 Subject: 4/5th Vote: Grant to Sixth Street Miami Partners, LLC. Enclosures: File # 19143 - Exhibit A File # 19143 - Backup File # 19143 - Notice To The Public BACKGROUND: A Resolution of the Board of Commissioners of the Southeast Overtown/Park West Community Redevelopment Agency ("SEOPW 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 herein as Exhibit "A," that competitive negotiation methods and procedures are not practicable or advantageous, pursuant to Section(s) 18-85 and 18-86 of the Code of the City of Miami, Florida, as amended ("City Code"), as adopted by the SEOPW CRA, and waiving said procedures, awarding a grant, in an amount not to exceed Three Million Five Hundred Thousand Dollars and Zero Cents ($3,500,000.00) ("Funds"), to Sixth Street Miami Partners LLC, a Foreign Limited Liability Company authorized to conduct business in the State of Florida ("Grantee"), with a principal address at 2200 Biscayne Boulevard, Miami, Florida 33137, to underwrite costs associated with the construction build -out and development of the "Freedom Center" at Gale Miami Hotel (Folio No: 01-0105-090-2160), generally located at 159 Northeast 6th Street, Miami, Florida 33132 ("Purpose"). It is recommended that the Board of the SEOPW CRA approve and adopt the attached Resolution, authorizing the allocation of the Funds to the Grantee for the Purpose stated herein. JUSTIFICATION: Pursuant to Chapter 163, Florida Statutes, the Southeast Overtown/Park West Community Redevelopment Agency ("SEOPW CRA") is responsible for carrying out community redevelopment activities and projects within its redevelopment area ("Redevelopment Area") in accordance with the 2018 Updated Southeast Overtown/Park West Redevelopment Plan (the "Plan"). Packet Pg. 86 Section 163.340(9), Florida Statutes (the "Act"), community redevelopment means "undertakings, activities, or projects of a ... community redevelopment agency in a community redevelopment area for the elimination and prevention of the development or spread of slums and blight...." Section 2, Goal 6, of the Plan, focuses on "improv[ing] the quality of life for residents," as a stated redevelopment goal. Lastly, Section 2, Principle 6, of the Plan, discusses "address[ing] and improv[ing] the neighborhood economy and expand[ing] the economic opportunities of present and future residents," as a stated redevelopment principle. FUNDING: $3,500,000.00 allocated from SEOPW "Other Grants and Aids" Account No. 10050.920101.883000.0000.00000. FACT SHEET: Entity name: Sixth Street Miami Partners LLC, a Foreign Limited Liability Company Address: Folio no: 01-0105-090-2160, generally located at 159 Northeast 6`'' Street, Miami, Florida 33132. Funding request: $3,500,000.00 Scope of work or services (Summary): To support the buildout and development of a Conference and Exhibition Center, referred to as the "Freedom Center" at Gale Miami Hotel. Page 2 of 7 Packet Pg. 87 3.5 AGENDA ITEM FINANCIAL INFORMATION FORM SEOPW CRA CRA Board Meeting Date: April 9, 2026 CRA Section: Brief description of CRA Agenda Item: AWARDING A GRANT, IN AN AMOUNT NOT TO EXCEED ($3,500,000.00) ("FUNDS"), TO SIXTH STREET MIAMI PARTNERS LLC, A FOREIGN LIMITED LIABILITY COMPANY AUTHORIZED TO CONDUCT BUSINESS IN THE STATE OF FLORIDA ("GRANTEE"), WITH A PRINCIPAL ADDRESS AT 2200 BISCAYNE BOULEVARD, MIAMI, FLORIDA 33137, TO UNDERWRITE COSTS ASSOCIATED WITH THE CONSTRUCTION BUILD -OUT AND DEVELOPMENT OF THE "FREEDOM CENTER" AT GALE MIAMI HOTEL (FOLIO NO: 01-0105-090-2160), GENERALLY LOCATED AT 159 NORTHEAST 6TH STREET, MIAMI, FLORIDA 33132 Project Number YES, there Account Code: (if applicable): are sufficient funds in Line Item: 10050.920101.883000.0000.00000 Amount: $ 3, 50 0, 0 0 0.0 0 NO (Complete the following source of funds information): Amount budgeted in the line item: $ Balance in the line item: $ Amount needed in the line item: $ Sufficient funds will be transferred from the following line items: ACTION ACCOUNT NUMBER TOTAL Project No./Index/Minot Object From $ To $ From $ To $ Comments: Page 3 of 7 Packet Pg. 88 3.5 Approved by: Approval: Executive Director 4/2/2026 Miguel A Valcntirr, Finance Officer 4/2/2026 Page 4 of 7 Packet Pg. 89 3.5 Southeast Overtown/Park West Community Redevelopment Agency File Type: CRA Resolution Enactment Number: File Number: 19143 Final Action Date: A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("SEOPW 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 HEREIN AS EXHIBIT "A," THAT COMPETITIVE NEGOTIATION METHODS AND PROCEDURES ARE NOT PRACTICABLE OR ADVANTAGEOUS, PURSUANT TO SECTION(S) 18-85 AND 18-86 OF THE CODE OF THE CITY OF MIAMI, FLORIDA, AS AMENDED ("CITY CODE"), AS ADOPTED BY THE SEOPW CRA, AND WAIVING SAID PROCEDURES, AWARDING A GRANT, IN AN AMOUNT NOT TO EXCEED THREE MILLION FIVE HUNDRED THOUSAND DOLLARS AND ZERO CENTS ($3,500,000.00) ("FUNDS"), TO SIXTH STREET MIAMI PARTNERS LLC, A FOREIGN LIMITED LIABILITY COMPANY AUTHORIZED TO CONDUCT BUSINESS IN THE STATE OF FLORIDA ("GRANTEE"), WITH A PRINCIPAL ADDRESS AT 2200 BISCAYNE BOULEVARD, MIAMI, FLORIDA 33137, TO UNDERWRITE COSTS ASSOCIATED WITH THE CONSTRUCTION BUILD -OUT AND DEVELOPMENT OF THE "FREEDOM CENTER" AT GALE MIAMI HOTEL (FOLIO NO: 01-0105-090-2160), GENERALLY LOCATED AT 159 NORTHEAST 6TH STREET, MIAMI, FLORIDA 33132 ("PROPERTY") ("PURPOSE"); AUTHORIZING THE EXECUTIVE DIRECTOR TO DISBURSE FUNDS, AT HIS DISCRETION, ON A REIMBURSEMENT BASIS OR DIRECTLY TO VENDORS, UPON PRESENTATION OF INVOICES AND SATISFACTORY DOCUMENTATION, SUBJECT TO THE AVAILABILITY OF FUNDING, FROM THE CORRESPONDING ACCOUNT NO. 10050.920101.883000.0000.00000 "OTHER GRANTS AND AIDS"; FURTHER AUTHORIZING THE EXECUTIVE DIRECTOR TO NEGOTIATE AND EXECUTE ANY AND ALL DOCUMENTS NECESSARY, ALL IN FORMS ACCEPTABLE TO COUNSEL, INCLUDING, BUT NOT LIMITED TO, A RESTRICTIVE COVENANT TO BE RECORDED IN THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA, FOR SAID PURPOSE; PROVIDING FOR THE INCORPORATION OF RECITALS AND AN EFFECTIVE DATE. WHEREAS, the Southeast Overtown/Park West Community Redevelopment Agency ("SEOPW CRA") is a community redevelopment agency created pursuant to Chapter 163, Florida Statutes, and is responsible for carrying out community redevelopment activities and projects within its Redevelopment Area in accordance with the 2018 Updated Southeast Overtown/Park West Community Redevelopment Plan ("Plan"); and Page 5 of 7 Packet Pg. 90 3.5 WHEREAS, pursuant to Section 163.340(9), Florida Statutes, "community redevelopment means projects of a ... community redevelopment agency in a community redevelopment area for the elimination and prevention of the development or spread of slum and blight"; and WHEREAS, Section 2, Goal 6, of the Plan, focuses on "improv[ing] the quality of life for residents," as a stated redevelopment goal; and WHEREAS, Section 2, Principle 6, of the Plan, discusses "address[ing] and improv[ing] the neighborhood economy and expand[ing] the economic opportunities of present and future residents," as a stated redevelopment principle; and WHEREAS, Sixth Street Miami Partners LLC, a Foreign Limited Liability Company authorized to conduct business in the State of Florida ("Grantee"), has submitted a proposal for the buildout and development of a Conference and Exhibition Center, referred to as the "Freedom Center" at Gale Miami Hotel (Folio no: 01-0105-090-2160), generally located at 159 Northeast 6' Street, Miami, Florida 33132 ("Property"); and WHEREAS, Grantee is requesting financial assistance, in an amount not to exceed Three Million Five Hundred Thousand Dollars and Zero Cents ($3,500,000.00), from the SEOPW CRA to underwrite a portion of the cost for the buildout of the space ("Purpose"); and WHEREAS, the Board of Commissioners wishes to award grant funds, in an amount not to exceed Three Million Five Hundred Thousand Dollars and Zero Cents ($3,500,000.00) ("Funds"), to the Grantee for said Purpose; and WHEREAS, the Board of Commissioners finds that adopting this Resolution would further the redevelopment goals and objectives of the SEOPW CRA; and WHEREAS, based on the recommendation and findings of the Executive Director, attached and incorporated herein as Exhibit "A," it is in the SEOPW CRA's best interest for the Board of Commissioners to authorize, by an affirmative four -fifths (4/5ths) vote, a waiver of competitive sealed bidding procedures, pursuant to Section(s) 18-85 and 18-86 of the Code of the City of Miami, Florida, as amended ("City Code"), as adopted by the SEOPW CRA, to allocate said Funds, subject to availability, and to authorize the Executive Director to negotiate and execute any and all agreements necessary, all in forms acceptable to Counsel, with Grantee for said Purpose. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY: Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by reference and incorporated herein as if fully set forth in this Section. Section 2. Pursuant to Section(s) 18-85 and 18-86 of the City Code, as adopted by the SEOPW CRA, by a four -fifths (4/5th) affirmative vote, after an advertised public hearing, the Executive Director's recommendation and written findings, attached and incorporated herein as Exhibit "A," that competitive negotiation methods and procedures are not practicable or advantageous to the SEOPW CRA, and waiving the requirements for said procedures, are hereby ratified, approved, and confirmed. Page 6 of 7 Packet Pg. 91 Section 3. The Executive Director is hereby authorized' to disburse the Funds, at his discretion, on a reimbursement basis or directly to vendors, upon presentation of invoices and satisfactory documentation from Other Grants and Aids - Account No. 10050.920101.883000.0000.00000, subject to funding availability, for the Purpose stated herein. Section 4. The Executive Director is authorized' to negotiate and execute an agreement, including any and all necessary documents, all in forms acceptable to Counsel, for said Purpose. Section 5. Sections of this Resolution may be renumbered or re -lettered and corrections of typographical errors which do not affect the intent may be authorized by the Executive Director, or the Executive Director's designee, without need for public hearing, by filing a corrected copy of same with the City of Miami City Clerk. Section 6. This Resolution shall become effective immediately upon its adoption. APPROVED AS TO FORM AND LEGAL SUFFICIENCY: ounsel 4/2/2026 ' The herein authorization is further subject to compliance with all legal requirements that may be imposed, including but not limited to those prescribed by applicable State law, City Charter and City Code provisions, as adopted by the SEOPW CRA. Page 7 of 7 Packet Pg. 92 3.5.a SEOPW Board of Commissioners Meeting April 9, 2026 THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY 4/5ths RECOMMENDATION INTER -OFFICE MEMORANDUM To: Board Chair Christine King and Date: April 9, 2026 File: Members of the SEOPW CRA Board Subject: Recommendations and findings to waive competitive sealed bidding and negotiation methods, pursuant to Sec. 18-85 and 18-86, for Sixth Street Miami Partners LLC. From: James D. McQueen Enclosures: Exhibit "A" Executive Director BACKGROUND: The Board of Commissioners ("Board") ofthe Southeast Overtown/Park West Community Redevelopment Agency ("SEOPW CRA") is responsible for carrying out community redevelopment activities and projects within its Redevelopment Area in accordance with the 2018 Updated SEOPW CRA Redevelopment Plan ("Plan"). Sixth Street Miami Partners LLC, a Foreign Limited Liability Company authorized to conduct business in the State of Florida ("Grantee"), has submitted a proposal for the buildout and development of a Conference and Exhibition Center referred to as the "Freedom Center at Gale Miami Hotel" (the "Project"), to be located at 159 Northeast 6th Street, Miami, Florida 33132 ("Property"). In furtherance of its efforts, Grantee has submitted a request to the SEOPW CRA for financial assistance, in an amount not to exceed Three Million Five Hundred Thousand Dollars and Zero Cents ($3,500,000.00) ("Funds"), from the SEOPW CRA to underwrite a portion of the cost for the buildout of the space. It is recommended that the SEOPW CRA Board authorize the issuance of the Funds to Grantee for the Purpose stated herein. The Executive Director has reviewed and vetted the request, in accordance with the objectives of the Plan. RECOMMENDATION: In light of the above -stated, approval of a waiver of the formal requirements of competitive sealed bidding methods as not being practicable or advantageous to the SEOPW CRA as set forth in the City Code of Ordinances, as amended, specifically Section(s) 18-85 and 18-86, and the affirmation of these written findings and the forwarding the same to the SEOPW CRA Board by a four -fifths vote is respectfully requested. APPROVED James D. McQueen, Executive Director 1 Attachment: File # 19143 - Exhibit A (19143 : 4/5th Vote: Grant to Sixth Street Miami Partners, LLC.) Packet Pg. 93 3.5.b SIXTH STREET MIAMI PARTNERS LLC March 24, 2026 Chairwoman Christine King Southeast Overtown Park West Community Redevelopment Agency 401 N Miami Ave, 2nd Floor Miami, FL 33136 Re: Proposal Request for SEOPW CRA Funding for the Freedom Center at Gale Miami Hotel — Developer Terms and Community Benefits Dear Chairwoman King: This proposal is respectfully submitted on behalf of Sixth Street Miami Partners LLC for the buildout and development of a Conference and Exhibition Center referred to as the " Freedom Center at Gale Miami Hotel" (the "Project"), to be located at 159 NE 6th Street Miami, FL 33132 ("Property") within the boundaries of the Southeast Overtown/Park West Community Redevelopment Agency ("CRA"). The Project is intended to serve as a regional economic anchor —enhancing Miami's capacity to attract conventions, trade shows, professional conferences, cultural exhibitions, and large-scale tourism activations. It is projected to generate significant public benefits, including job creation, increased tax revenue, and meaningful neighborhood revitalization. At this time, we respectfully request an initial grant award of Three Million Five Hundred Thousand Dollars ($3,500,000.00) from the CRA to underwrite a portion of the cost for the buildout of the space. The Freedom Center development plans align with the proposed buildout, site location, and key community benefits outlined in the attached term sheet. All commitments follow Interlocal Agreement requirements related to labor participation, wage standards, and workforce reporting. Planned community benefits include hosting ten community events each year, supporting the annual Christmas Giving initiative, prioritizing local hiring and vendor participation, partnering with reentry -focused organizations such as Transition Inc. or Circle of Brotherhood, and expanding workforce development opportunities for residents of the SEOPW CRA District. The development team remains committed to upholding both the letter and spirit of the SEOPW CRA's mission —including the promotion of job creation, economic mobility, and the activation of community -serving spaces. We appreciate the CRA's continued collaboration and look forward to advancing this transformative opportunity. We stand ready to provide any additional information that may assist in your review. Thank you for your partnership and thoughtful consideration. Respectfully submitted, Jefferson Brackin Manager / Authorized Representative Attachment: File # 19143 - Backup (19143 : 4/5th Vote: Grant to Sixth Street Miami Partners, LLC.) 2200 Biscayne Blvd., Miami, Florida 33137 Packet Pg. 94 3.5.b SIXTH STREET MIAMI PARTNERS LLC March 24, 2026 Mr. James McQueen Executive Director Southeast Overtown Park West Community Redevelopment Agency 819 NW 2nd Avenue, Miami, FL 33136 Re: Proposal Request for SEOPW CRA Funding for the Freedom Center at Gale Miami Hotel — Developer Terms and Community Benefits Dear Mr. James McQueen: This proposal is respectfully submitted on behalf of Sixth Street Miami Partners LLC for the buildout and development of a Conference and Exhibition Center referred to as the " Freedom Center at Gale Miami Hotel" (the "Project"), to be located at 159 NE 6th Street Miami, FL 33132 ("Property") within the boundaries of the Southeast Overtown/Park West Community Redevelopment Agency ("CRA"). The Project is intended to serve as a regional economic anchor —enhancing Miami's capacity to attract conventions, trade shows, professional conferences, cultural exhibitions, and large-scale tourism activations. It is projected to generate significant public benefits, including job creation, increased tax revenue, and meaningful neighborhood revitalization. At this time, we respectfully request an initial grant award of Three Million Five Hundred Thousand Dollars ($3,500,000.00) from the CRA to underwrite a portion of the cost for the buildout of the space. The Freedom Center development plans align with the proposed buildout, site location, and key community benefits outlined in the attached term sheet. All commitments follow Interlocal Agreement requirements related to labor participation, wage standards, and workforce reporting. Planned community benefits include hosting ten community events each year, supporting the annual Christmas Giving initiative, prioritizing local hiring and vendor participation, partnering with reentry -focused organizations such as Transition Inc. or Circle of Brotherhood, and expanding workforce development opportunities for residents of the SEOPW CRA District. The development team remains committed to upholding both the letter and spirit of the SEOPW CRA's mission —including the promotion of job creation, economic mobility, and the activation of community -serving spaces. We appreciate the CRA's continued collaboration and look forward to advancing this transformative opportunity. We stand ready to provide any additional information that may assist in your review. Thank you for your partnership and thoughtful consideration. Respectfully submitted, Jefferson Brackin Manager / Authorized Representative Attachment: File # 19143 - Backup (19143 : 4/5th Vote: Grant to Sixth Street Miami Partners, LLC.) 2200 Biscayne Blvd., Miami, Florida 33137 Packet Pg. 95 3.5.b Freedom Center at Gale Miami Hotel Economic and Fiscal Benefits Floor 7 1 42,000 SF 1 Overtown/Park West CRA I March 2026 Prepared for Sixth Street Miami Partners March 2026 Attachment: File # 19143 - Backup (19143 : 4/5th Vote: Grant to Sixth Street Miami Partners, LLC.) BUSINESS FLARE® Packet Pg. 96 Freedom Center at Gale Miami Hotel BusinessFlare® Table of Contents Executive Summary 3 1. Introduction and Project Overview 4 2. Market Context: Miami -Dade Tourism Economy 5 3. Strategic Market Timing: Miami Riverbridge Analysis 6 4. Methodology and Data Sources 7 5. EconomiclmpactAnalysis 8 6. Fiscal Impact Analysis 7. Build -Out Cost Projections 9 10 8. Pro Forma Financial Projections 11 9. Sensitivity Analysis 12 10. Community Redevelopment Agency Benefits 13 11. Qualitative Benefits 17 12. Conclusions and Recommendations 18 Appendix A: Data Sources and References 19 Appendix B: TIF Revenue Projections 20 2 Attachment: File # 19143 - Backup (19143 : 4/5th Vote: Grant to Sixth Street Miami Partners, LLC.) Packet Pg. 97 Freedom Center at Gale Miami Hotel BusinessFlare® Executive Summary The Freedom Center at Gale Miami Hotel represents a strategic opportunity to establish a 42,000 square foot convention and exhibition facility on the seventh floor of Downtown Miami's newest landmark tower. This economic impact study quantifies the facility's projected contribution to Miami -Dade County's economy using industry -standard input-output modeling and locally -calibrated multipliers from Lightcast. Key Findings Metric Value Project Scope 42,000 SF - Floor 7, Gale Miami Hotel Direct Visitor Spending (Annual, Stabilized) $11.8M — $30.7M Total Economic Output (Annual) $24.1M — $62.7M Jobs Supported (Annual) 118 — 308 FTE Labor Income Generated (Annual) $6.8M — $17.7M Annual Incremental Tax Revenue (All Jurisdictions) $0.85M — $1.8M Total Build -Out Investment $7.5M CRA Grant Contribution (Overtown/Park West) $3.5M Developer Contribution (Sixth Street Miami Partners) $4.0M Total Project Cost $7.5M 16-Year Cumulative TIF (Scenario A: Cost Escalation Only) $1.65M 16-Year Cumulative TIF (Scenario B: Conservative Base) $1.98M 16-Year Cumulative TIF (Scenario C: Stabilized Performance) $2.9M Strategic Market Timing The Freedom Center enters the market at a uniquely advantageous moment. The Miami Riverbridge development agreement initiates a multi -year redevelopment of the James L. Knight Convention Center, creating a 5-7 year period during which Downtown Miami's primary convention facility will be offline. The Freedom Center serves a critical market stewardship role: • Market Continuity: Maintains convention and exhibition business in Downtown Miami during the Knight Center construction period, preventing market atrophy and loss of business to competing destinations. • Demand Cultivation: Establishes and validates the downtown Worldcenter location for events, building client relationships and repeat business that will benefit the entire market. • Focused Positioning: At 42,000 SF on a single floor, the Freedom Center serves the mid -market segment with a nimble, hotel -integrated operating model ideally suited to trade shows, expos, and civic gatherings. • Rising Tide Effect: When Miami Riverbridge opens, expected in the early 2030s, it will inherit a stronger, more established downtown meetings market. Community Redevelopment Agency Benefits Located within the Overtown/Park West CRA, the Freedom Center advances agency objectives including job creation, space activation, and tax base expansion. Under the conservative base case (Scenario B), the project generates $1.98 million in cumulative TIF revenue over 16 years; under stabilized performance assumptions (Scenario C), TIF increases to $2.89 million. With 189 FTE jobs supported annually in the regional economy, concentrated first within the Overtown/Park West CRA boundary and radiating outward through Downtown 3 Attachment: File # 19143 - Backup (19143 : 4/5th Vote: Grant to Sixth Street Miami Partners, LLC.) Packet Pg. 98 Freedom Center at Gale Miami Hotel BusinessFlare® Miami, and total annual incremental tax impact of $1.1 million across all jurisdictions, a CRA grant contribution of $3 million is well -supported by the evidence. The project's capital structure is straightforward: $3.5 million from the Overtown/Park West CRA and $4.0 million from Sixth Street Miami Partners fund the complete $7.5 million build -out. The developer is additionally funding infrastructure improvements on adjacent floors, bringing total private commitment to approximately $5.0 to $5.7 million. 1. Introduction and Project Overview 1.1 Project Description The Freedom Center at Gale Miami Hotel & Residences is a 42,000 square foot convention and exhibition venue occupying the seventh floor of a 51-story landmark tower in the heart of Downtown Miami, adjacent to Miami Worldcenter and centrally located near all major transit stations. The facility is purpose-built to serve trade shows, expos, large civic gatherings, and mid -sized corporate and association events, with state-of-the-art audio, visual, climate control, and logistics infrastructure. The project is owned and developed by Sixth Street Miami Partners, doing business as the Freedom Center. Freedom Center Specifications Detail Total Exhibition Space 42,000 SF (Floor 7) Floor Configuration Single floor, 42,000 SF Ceiling Height 14-foot exposed ceilings Floor Finish Polished concrete floors Views / Outdoor Space Sweeping balconies, panoramic skyline/bay views Maximum Capacity Up to 1,000 standing (single floor) Building Infrastructure Advanced smart -building, dedicated office lobby Access / Security Three exclusive elevators, 24-hour secured access 1.2 Gale Miami Hotel & Residences Context The Freedom Center is integrated within Gale Miami Hotel & Residences, a 51-story landmark tower blending luxury hospitality with modern residential living. The property features 688 residences (337 in the hotel program), multiple dining venues, rooftop amenities, and 24-hour valet parking. The hotel's on -site conference facilities (a separate 20,000 SF Gale Conference Center with up to 13 partitionable rooms) complement the Freedom Center's seventh -floor exhibition space, enabling the combined property to serve events from boardroom meetings to large-scale convention gatherings. 2. Market Context: Miami -Dade Tourism Economy 2.1 Tourism Industry Overview Miami -Dade County's tourism industry achieved record performance in 2024, establishing the economic foundation that supports convention and exhibition activity. According to the Greater Miami Convention & Visitors Bureau's 2024 Visitor Industry Overview, the destination welcomed 28.2 million visitors who generated $22.0 billion in direct spending, a 4% increase over 2023 and 23% above pre -pandemic 2019 levels. 4 Attachment: File # 19143 - Backup (19143 : 4/5th Vote: Grant to Sixth Street Miami Partners, LLC.) Packet Pg. 99 Freedom Center at Gale Miami Hotel BusinessFlare® Metric 2024 2023 YoY Total Visitors 28.2 million 27.2 million +4% Overnight Visitors 20.1 million 19.3 million +4% Total Visitor Spending $22.0 billion $21.1 billion +4% Total Economic Impact $31.1 billion $29.6 billion +5% Jobs Supported 209,000+ +10% Total Tax Revenue $5.2 billion Source: GMCVB Visitor Industry Overview 2024 2.2 Visitor Spending Patterns Convention and exhibition attendees demonstrate spending patterns aligned with international overnight visitors. This analysis uses the international visitor benchmark ($473 per visit) as the basis for daily attendee spending, reflecting business travel characteristics: hotel stays rather than staying with friends/family, business expense accounts, and destination -focused itineraries. Category Domestic Int'I FL Resident Average Lodging $423 $473 $181 $359 Food & Beverage $199 $214 $72 $163 Transportation $89 $162 $66 $99 Entertainment $56 $64 $46 $55 Shopping $85 $167 $90 $105 Total Per Visit $852 Source: GMCVB Visitor Industry Overview 2024 $1,080 $455 $780 2.3 Hotel Market Performance The Downtown Miami/Brickell hotel submarket achieved 73.7% occupancy with an Average Daily Rate of $241.59 through October 2025 YTD. Miami -Dade County ranks #4 nationally in both ADR ($222.04) and RevPAR ($163.79) among the Top 25 U.S. hotel markets, providing a strong lodging infrastructure to support Freedom Center event attendees. 5 Attachment: File # 19143 - Backup (19143 : 4/5th Vote: Grant to Sixth Street Miami Partners, LLC.) Packet Pg. 100 Freedom Center at Gale Miami Hotel BusinessFlare® 3. Strategic Market Timing: Miami Riverbridge Analysis 3.1 Miami Riverbridge Development Overview On June 12, 2023, the Miami City Commission approved Resolution 13923, authorizing a 99-year ground lease for the comprehensive redevelopment of the James L. Knight Convention Center into the $1.7 billion Miami Riverbridge project. This creates a 5-7+ year gap in Downtown Miami's convention capacity, a window the Freedom Center is uniquely positioned to fill. Milestone Base Deadline Extension Available Commencement Conditions 30 months from Effective Date Up to 18 months Demolition Completion 12 months after start Up to 12 months Substantial Completion 4 years after construction Up to 24 months Event planners book 18-36 months in advance. Clients displaced by the Knight Center closure are making venue decisions now for their 2027 and 2028 events. Without viable downtown convention space, those decisions will default to Fort Lauderdale, Orlando, and Miami Beach; and once established elsewhere, event organizers have little incentive to return. 4. Methodology and Data Sources 4.1 Input -Output Modeling Framework This analysis employs regional input-output modeling using Miami -Dade Lightcast 2024 multipliers, separating effects into Direct Effects (initial attendee spending), Indirect Effects (business -to -business supplier spending), and Induced Effects (consumer spending by workers whose incomes derive from direct and indirect activity). Industry (NAICS) Type II Direct Indirect Induced Hotels & Motels (721110) 1.316 2.002 1.000 0.316 0.686 Full -Service Restaurants (722511) 1.397 2.021 1.000 0.397 0.624 Event Venues (711310) 1.590 2.239 1.000 0.590 0.649 Weighted Average 1.367 2.040 Source: Lightcast 2024 Regional Multipliers, Miami -Dade County, FL 4.2 Key Assumptions 1.000 0.367 0.673 Parameter Assumption Facility Scope 42,000 SF (Floor 7) Average Daily Attendee Spending $473 (GMCVB Int'I Visitor benchmark) Average Length of Stay 2.5 nights (industry standard) Average Event Attendance 500 attendees per event Total Output Multiplier 2.04 (Lightcast weighted) Hotel ADR (Downtown Miami) $241.59 (GMCVB/STR, Oct 2025 YTD) 6 Attachment: File # 19143 - Backup (19143 : 4/5th Vote: Grant to Sixth Street Miami Partners, LLC.) Packet Pg. 101 Freedom Center at Gale Miami Hotel BusinessFlare® 5. Economic Impact Analysis 5.1 Operating Scenarios The Moderate scenario of 60 event days represents the most likely stabilized performance for a 42,000 SF single - floor facility, translating to approximately 24 events annually with an average duration of 2.5 days. This utilization rate is appropriately conservative for a facility in its early operational years in a competitive urban market and allows meaningful upside as the Freedom Center establishes itself as Downtown Miami's premier mid -market event venue. Scenario Event Days Events/Year Total Attendance Utilization Conservative 40 20 25,000 11% Moderate 60 24 40,000 16% Strong 80 32 55,000 22% Optimistic 95 38 65,000 26% 5.2 Direct Visitor Spending At the Moderate scenario, 40,000 annual attendees will inject $18.9 million in new spending into the Miami -Dade economy. The concentration of spending on lodging (46%) and food and beverage (21%) directly benefits Downtown Miami's hospitality sector, with the Gale Miami Hotel well -positioned to capture a significant share of on -site lodging and dining revenue. Category Conservative Moderate Strong Optimistic Lodging (46%) $5.4M $8.7M $12.0M $14.1M Food & Beverage (21%) $2.5M $4.0M $5.5M $6.5M Transportation (13%) $1.5M $2.5M $3.4M $4.0M Shopping (13%) $1.5M $2.5M $3.4M $4.0M Entertainment (7%) $0.8M $1.3M $1.8M $2.1M Total Direct Spending $11.8M $18.9M $26.0M $30.7M 5.3 Total Economic Output The Lightcast weighted 2.04 total output multiplier means every dollar of direct visitor spending generates an additional $1.04 in economic activity circulating through the local economy. At the Moderate scenario, $18.9 million in direct spending grows to $38.6 million in total economic output. Effect Type Conservative Moderate Strong Optimistic Direct Effects $11.8M $18.9M $26.0M $30.7M Indirect Effects $4.3M $6.9M $9.5M $11.3M Induced Effects $7.8M $12.7M $17.5M $20.7M Total Economic Output $24.1M $38.6M 7 $53.1M $62.7M Attachment: File # 19143 - Backup (19143 : 4/5th Vote: Grant to Sixth Street Miami Partners, LLC.) Packet Pg. 102 Freedom Center at Gale Miami Hotel BusinessFlare® 5.4 Employment Impact Employment Category Conservative Moderate Strong Optimistic Direct Jobs 65 87 119 141 Indirect Jobs 18 24 33 39 Induced Jobs 35 78 108 128 Total Jobs Supported 118 5.5 Labor Income 189 260 308 Income Category Conservative Moderate Strong Optimistic Direct Labor Income $3.8M $5.1 M $7.0M $8.3M Indirect Labor Income $1.4M $1.8M $2.6M $3.1M Induced Labor Income $1.6M $4.0M $5.4M $6.3M Total Labor Income 6. Fiscal Impact Analysis 6.1 Tax Structure Overview $6.8M $10.9M $15.0M $17.7M Tax Rate Base Collector Convention Development Tax 3% Hotel room rentals Miami -Dade County Tourist Development Tax 2% Hotel room rentals Miami -Dade County Professional Sports Tax 1% Hotel room rentals Miami -Dade County Florida State Sales Tax 6% All taxable goods/services State of Florida Miami -Dade Surtax 1% All taxable Miami -Dade County goods/services 6.2 Projected Incremental Tax Revenue Tax revenue projections reflect only the incremental contribution from out-of-town visitors whose hotel stays and spending represent new activity to Miami -Dade County. The Gale Hotel's existing room inventory is already operating and generating bed tax revenue; this analysis captures only the Freedom Center -attributable increment. Using a conservative assumption that 60% of Freedom Center attendees are out-of-town visitors (24,000 at the Moderate scenario), incremental direct spending is $11.35 million at the Moderate scenario. Bed taxes (CDT, TDT, Professional Sports) are applied to the lodging share of incremental spending only; state and county sales taxes are applied to total incremental spending. Tax Category Conservative Moderate Strong Optimistic Convention Dev. Tax (3%) $94K $157K $204K $242K Tourist Dev. Tax (2%) $63K $104K $136K $161K State Sales Tax (6%) $567K $681K $938K $1,108K County Surtax (1%) $94K $114K $156K $185K Total Incremental Tax Revenue $0.85M $1.1M $1.53M $1.8M 8 Attachment: File # 19143 - Backup (19143 : 4/5th Vote: Grant to Sixth Street Miami Partners, LLC.) Packet Pg. 103 Freedom Center at Gale Miami Hotel BusinessFlare® Note: Total attendee economic activity ($18.9M direct spending, Moderate scenario) is reported in Section 5 as a measure of total economic impact. The incremental tax figures above are the more conservative and technically correct basis for fiscal contribution analysis, given the Gale Hotel's existing operations. Over a 10-year stabilized operating period, cumulative incremental tax generation under the Moderate scenario reaches $11.1 million. 7. Build -Out Cost Projections The $7.5 million build -out cost represents the full investment required to convert 42,000 SF of Floor 7 into a Class A convention and exhibition facility, at a rate of $179 per square foot. The $3.5 million CRA grant and $4 million developer contribution together fund the complete build -out with no additional private capital required. In addition, Sixth Street Miami Partners is independently funding HVAC distribution, electrical upgrades, additional bathrooms, and a connecting staircase on adjacent floors —estimated at $500,000 to $1.2 million — bringing total developer investment to approximately $5.0 to $5.7 million. Component Floor 7 Core Construction & Fit -Out MEP & Infrastructure FF&E and Technology Soft Costs & Contingency Amount $5,040,000 $1,100,000 $900,000 $460,000 Notes '$120/SF x 42,000 SF Electrical, HVAC, plumbing distribution AV, lighting, furniture, event infrastructure Design, permitting, contingency Total Build -Out Investment $7,500,000 $179/SF blended rate Estimates based on South Florida convention center construction costs, Q12026. Floor 7 only. Construction cost estimates are being finalized and will be provided prior to board presentation. The build -out investment generates a one-time construction -period economic stimulus. The estimated $35-37 million in total construction -period output can support 73-80 temporary construction job -years, injecting $9.4- 10.3 million in labor income into the local economy prior to opening. 8. Pro Forma Financial Projections 8.1 Revenue Projections Projected annual revenue of $1.71—$4.65 million positions the Freedom Center competitively within the mid - market convention facility segment. The 42,000 SF single -floor configuration supports efficient operations scaled to the facility's footprint, while maintaining capacity to serve events from corporate meetings to large-scale trade shows. Revenue Category Facility Rental Food & Beverage (net) AV & Technology Services Other Revenue Conservative (40 days) $855,000 $428,000 $257,000 $171,000 Moderate (60 days) $1,400,000 $700,000 $420,000 $280,000 % Mix 50% 25% 15% 10% Total Revenue $1,711,000 $2,800,000 100% 9 Attachment: File # 19143 - Backup (19143 : 4/5th Vote: Grant to Sixth Street Miami Partners, LLC.) Packet Pg. 104 Freedom Center at Gale Miami Hotel BusinessFlare® Revenue projections based on industry benchmarks for Class A exhibition facilities in hotel -integrated environments, scaled to 42,000 SF. 8.2 Operating Expenses and NOI A 63% operating expense ratio reflects the labor-intensive nature of convention facility management. The 37% NOI margin ($0.63M—$1.72M annually, across scenarios) demonstrates operational viability and confirms that CRA participation addresses a one-time capital gap, not an ongoing operating subsidy. Category Labor & Benefits Utilities & Maintenance Sales & Marketing Insurance & Admin F&B Cost of Goods Other Operating Conservative $513,000 $137,000 $103,000 $86,000 $171,000 $69,000 Moderate % Rev $840,000 $224,000 $168,000 $140,000 $280,000 $112,000 30% 8% 6% 5% 10% 4% Total Operating Expenses Net Operating Income $1,079,000 $632,000 $1,764,000 $1,036,000 63% 37% 9. Sensitivity Analysis 9.1 Comprehensive Scenario Comparison Metric Annual Event Days Total Attendance Direct Spending Total Economic Output Jobs Supported Incremental Tax Revenue (60% out-of-town) Conservative Moderate Strong 40 25,000 $11.8M $24.1M 118 $0.85M 60 40,000 $18.9M $38.6M 189 $1.1M 80 55,000 $26.0M $53.1M 260 $1.53M Optimistic 95 65,000 $30.7M $62.7M 308 $1.8M Net Operating Income $0.63M $1.04M $1.45M $1.72M 9.2 Key Variable Sensitivity • Each additional 20 event days generates approximately $3.15M in additional direct spending and $6.4M in additional total economic output. • A 10% increase in average event attendance increases all economic metrics proportionally. • The analysis uses international visitor spending ($473/day). A domestic -only mix would reduce per -person spending to approximately $341/day, reducing Moderate scenario direct spending to —$13.6M. 10 Attachment: File # 19143 - Backup (19143 : 4/5th Vote: Grant to Sixth Street Miami Partners, LLC.) Packet Pg. 105 Freedom Center at Gale Miami Hotel BusinessFlare® 10. Community Redevelopment Agency Benefits The CRA's primary public benefit mandate is job creation accessible to Overtown/Park West residents. The Freedom Center delivers on that mandate at a scale and depth that few single projects can match. The 189 FTE supported annually under the Moderate scenario represents direct, indirect, and induced employment- but the character of those jobs, who holds them, and how they connect to the surrounding community requires more than a headline number. 10.1 Occupational Composition of Direct Employment Of the approximately 87 direct FTE at the Freedom Center, Food and Beverage operations represent the largest category at roughly 20 to 25 positions, including the Executive Catering Chef, sous chefs, line cooks, banquet servers, and bartenders. Event Operations accounts for approximately 12 positions across event directors, coordinators, and setup crews. Security and Guest Services adds 14 FTE including licensed security officers and front -of -house staff. Facilities and Maintenance accounts for 10 FTE. AV and Technology contributes 6 skilled -trade positions. Management and Administration rounds out the remaining 8 to 9 permanent leadership and finance roles. This distribution matters for the CRA because the largest single occupation at the facility- banquet server, approximately 12 to 16 FTE equivalent - is both the most accessible entry point for Overtown/Park West residents and one of the better -compensated hourly hospitality positions available in Miami -Dade. Unlike restaurant tipped workers, convention banquet servers operate under mandatory service charge structures (typically 22 to 24 percent added to food and beverage billings), which distributes guaranteed income rather than discretionary gratuities. A full-time equivalent banquet server working a stabilized 24-event calendar earns meaningfully more per hour than their counterpart in a restaurant setting - a distinction that is economically significant for households in a neighborhood where median income runs approximately $28,000 to $35,000. 10.2 Career Pathway Structure The Freedom Center creates a four -tier employment ladder, each rung accessible from the one below through performance and incremental training rather than credential barriers: Entry -tier positions ($26,000—$38,000) include custodial and housekeeping staff, banquet servers, line cooks, food prep workers, security officers, valet attendants, and guest services. The primary hiring barriers for these roles are reliability and basic certifications - ServSafe food handler certification costs approximately $15 to $25 and can be obtained online; the Florida Class D security license requires 40 hours of training and approximately $150 in fees. These 28 to 34 positions are the facility's deepest connection to the Overtown/Park West labor pool and are accessible to individuals with limited formal education, including returning citizens. Skilled and experienced positions ($38,000—$58,000) include AV technicians, maintenance technicians, sous chefs, banquet captains, event coordinators, sales coordinators, security supervisors, and administrative staff. These positions typically require one to three years of experience in an adjacent role, plus specific certifications: Certified Technology Specialist (CTS) through AVIXA for AV roles; EPA 608 certification for maintenance workers doing HVAC work; Food Handler Manager designation for kitchen supervisors. Critically, most of these positions can be filled by promoting Tier 1 workers who demonstrate performance over 12 to 24 months. A community hiring agreement that includes an explicit internal -promotion preference before external recruitment for this tier would meaningfully expand the career ceiling for CRA-area residents who enter at the bottom of the ladder. Professional and management positions ($52,000—$92,000) include the F&B Director, AV Director/Technical Director, event managers, senior sales managers, facilities manager, controller, and assistant general manager - approximately 12 positions in total. This tier requires hospitality management experience or a relevant degree, with FIU's Chaplin School of Hospitality and Tourism Management (nationally ranked top 10) and Miami Dade College as the primary local pipelines. Senior leadership ($72,000—$105,000) covers the General Manager, Director of Sales, and Executive Catering Chef- three to four positions recruited from Miami-Dade's broader convention and hospitality market. 11 Attachment: File # 19143 - Backup (19143 : 4/5th Vote: Grant to Sixth Street Miami Partners, LLC.) Packet Pg. 106 Freedom Center at Gale Miami Hotel BusinessFlare® 10.3 Industry Validation of Staffing Projection The 87 FTE direct employment figure is independently validated by standard convention industry benchmarks. The IAEE and PCMA convention management benchmarks indicate one direct FTE per $43,000 to $48,000 in annual facility revenue. Applied to the Freedom Center's Moderate scenario revenue of $2.80 million, this implies approximately 58-65 core direct FTE - consistent with the model's 87 direct FTE when event -day equivalent staffing is included. This revenue -per -employee benchmark provides independent confirmation that the staffing projection is internally consistent with industry operating norms, not an inflated number constructed to support the investment case. At 2.07 direct FTE per 1,000 square feet, the Freedom Center falls at the higher end of the documented range for mid -size convention and conference facilities (1.0 to 2.2 FTE per 1,000 SF), reflecting the hotel -integrated model where food, beverage, and event services are more intensive per square foot than standalone convention halls. 10.4 Event -Day Labor Activation The 189 FTE annual figure represents stabilized employment equivalent - the workforce required to operate the facility across a full calendar year. On any individual event day, the labor activation is substantially larger. A single major event serving 500 to 1,000 attendees will activate 30 to 50 Freedom Center staff, 10 to 20 third -party vendor personnel (AV, decor, entertainment), and 15 to 30 exhibitor or sponsor staff from the booking organizations. Across the Moderate scenario's 60 event days per year, this represents approximately 1,800 to 3,000 individual worker -event engagements annually— positions concentrated in server, setup, AV support, security, and registration roles directly accessible to Overtown/Park West residents. This figure is additive to the 189 FTE count and represents a labor market activation benefit not captured in the primary impact model. 10.5 Geographic Distribution The geographic distribution of jobs across the four tiers reflects realistic hiring patterns for a convention facility at this location. Overtown/Park West CRA residents, with proximity to the Worldcenter site and concentration in the entry-level and service workforce, stand to capture 35 to 42 percent of direct FTE positions without a formal hiring agreement, and 40 to 55 percent with one - translating to approximately 35 to 48 direct jobs for CRA-area residents. The facility also activates the supplier ecosystem in Miami-Dade's event services economy: AV and equipment rental companies concentrated in the Wynwood and Design District corridors, food and beverage distributors operating out of Doral and Airport West, and professional services firms throughout Downtown, collectively accounting for the 24 indirect FTE in the model. Geographic Zone Zone Definition Est. Jobs (Moderate) Cumulative Tier 1: Overtown/Park West CRA Tier 2: Inner Downtown Core Tier 3: Greater Downtown Miami Tier 4: Miami -Dade County (Broader) CRA boundary (-0-0.5 mi) Downtown/Brickell/Wynwood (0.5-1.0 mi) Little Havana/Edgewater/upper Brickell (1-2 mi) Indirect/induced effects county -wide (2+ mi) -35-48 FTE -50-65 FTE -35-48 FTE -85-113 FTE - 35-45 FTE-120-158 FTE -31-69 FTE 189 FTE (Total) * Approximately40-55% of direct jobs align with workforce skills prevalent in Overtown/Park West. Local hiring commitments should target Tier 1 and Tier 2 residents. 12 Attachment: File # 19143 - Backup (19143 : 4/5th Vote: Grant to Sixth Street Miami Partners, LLC.) Packet Pg. 107 Freedom Center at Gale Miami Hotel BusinessFlare® 10.6 Capital Structure and Financing Source Type Amount % of Total Overtown/Park West CRA Grant / Contribution $4,000,000 53% Sixth Street Miami Partners Total Build -Out Private Equity Contribution $ 3, 500,000 $7,500,000 47% 100% Capital structure note: The $3.5 million CRA grant and $4 million developer contribution (Sixth Street Miami Partners) together fund the complete $7.5 million build -out of Floor 7. The developer's additional infrastructure investments on adjacent floors bring total private commitment to approximately $5.0 to $5.7 million; equaling or exceeding the CRA grant amount. 10.7 Community Hiring Cascade The Freedom Center's position within the Overtown/Park West CRA creates both the obligation and the opportunity to implement a structured community hiring preference. As a condition of the $3 million CRA grant, the developer and operator commit to a best-efforts hiring cascade that prioritizes local residents in the following order: Priority 1 - Overtown/Park West CRA Residents. The first and primary hiring preference applies to residents living within the Overtown/Park West CRA boundary, generally bounded by 1-395 to the north, the Miami River to the south, 1-95 to the west, and Biscayne Boulevard to the east. This population has the most direct claim on the public investment and the most to gain from employment access at a facility of this scale and permanence. Priority 2 - City of Miami Residents in Adjacent ZIP Codes. Where CRA-boundary residents cannot be identified or qualified for a given position, hiring preference extends to City of Miami residents in the immediately adjacent ZIP codes - principally 33127 (Wynwood/Edgewater), 33130 (Little Havana/Riverside), 33132 (Downtown/Biscayne), and 33136 (Health District/Allapattah). Priority 3 - City of Miami Residents Countywide. The third tier extends the preference to all remaining City of Miami residents before the search broadens to the wider county labor market. Priority 4 - Miami -Dade County Residents. Only after exhausting best-efforts outreach through the first three tiers does hiring proceed on an unrestricted county -wide basis. This cascade applies to all direct employment positions and, where contractually enforceable, to the hiring practices of primary contractors and vendors providing services at the facility. Implementation Mechanisms. Best-efforts compliance is most effective when tied to specific process requirements rather than numeric targets, which are difficult to enforce and create legal exposure. Recommended mechanisms include: posting all open positions with the Miami -Dade CareerSource network and SEOPW CRA job board for a minimum of 10 business days before external advertising; participating in at Ieast two CRA-area job fairs per year; partnering with Miami -Dade College, FIU, and Miami Dade County Public Schools' career and technical education programs for entry-level pipeline development; and submitting an annual workforce report to the CRA documenting the residential distribution of hires by tier. Promotion Preference. The hiring cascade should also extend to internal promotion decisions. Before recruiting externally for Tier 2 skilled and experienced positions, the operator should demonstrate best-efforts consideration of current employees who entered at Tier 1 - converting what would otherwise be a static entry-level workforce into a genuine career mobility pathway for Overtown/Park West residents. 10.8 TIF Revenue Projections The build -out generates new taxable value flowing to the CRA through the TIF mechanism. The combined City of Miami (7.1364 mills) and Miami -Dade County (4.574 mills) millage captured at 95% yields an effective rate of 11.1295 mills on incremental taxable value. 13 Attachment: File # 19143 - Backup (19143 : 4/5th Vote: Grant to Sixth Street Miami Partners, LLC.) Packet Pg. 108 Freedom Center at Gale Miami Hotel BusinessFlare® Scenario A: Cost Escalation Only. The cost -based taxable value grows at 5.5% annually throughout the full 16-year period, reflecting propertyvalue appreciation without any assumption about income -based revaluation. This is the most conservative possible floor. The project generates $1.65 million in cumulative TIF revenue over 16 years. Scenario B: Conservative Base Case. Years 1 and 2 use cost -based valuation derived from the build -out investment. Beginning Year 3, the model transitions to income approach valuation using Moderate NOI ($1.04M) at a 7% capitalization rate. The project generates $1.98 million in cumulative TIF revenue over 16 years. Scenario C: Stabilized Performance Case. Conservative performance in Years 1 and 2, Moderate in Years 3 through 5, and Strong performance from Year 6 forward with cap rate compression from 7% to 6%. The project generates $2.89 million in cumulative TIF revenue over 16 years. 10.9 Return on CRA Investment Return Metric Value Annual Direct Spending Generated (Moderate) Annual Incremental Tax Revenue (Out -of -Town Visitors) Annual Jobs Supported (Moderate) Annual Labor Income (Moderate) 10-Year Cumulative Economic Output 16-Year Cumulative TIF (Scenario A: Cost Escalation Only) 16-Year Cumulative TIF (Scenario B: Conservative Base) 16-Year Cumulative TIF (Scenario C: Stabilized Performance) $18.9M $1.1M 189 FTE $10.9M $386M $1.65M $1.98M $2.89M Total Build -Out Investment $7.5M CRA Grant as % of 10-Year Economic Output Cost per Permanent Job (189 FTE) 1.0% $15,873 per job The $3 million CRA grant translates to $15,873 perjob created — below the approximately $24,000 combined public investment perjob authorized under Florida's Qualified Target Industry (MI) program and consistent with comparable economic development incentive programs statewide. Cost -per -job is one measure of investment efficiency. The full case rests on the combination of TIF recovery ($1.6M to $2.9M over 16 years depending on scenario), $1.1 million in annual incremental tax revenue, $38.6 million in total annual economic output, 189 permanent jobs concentrated in and around the CRA, and the market continuity value of preserving Downtown Miami's convention industry during the Knight Center transition period. 10.10 Capital Gap, Not Operating Subsidy The Freedom Center will operate profitably once constructed. CRA participation addresses a capital gap for accelerated build -out, not an ongoing operating deficit. CRA investment is a one-time grant that unlocks a self- sustaining operation generating returns for decades. 10.11 Market Timing and Accelerated Build -Out The Knight Center closure creates a narrow window during which Downtown Miami risks losing convention market share. CRA capital participation enables accelerated construction timelines that conventional private 14 Attachment: File # 19143 - Backup (19143 : 4/5th Vote: Grant to Sixth Street Miami Partners, LLC.) Packet Pg. 109 3.5.13; Freedom Center at Gale Miami Hotel BusinessFlare® financing cannot match. The difference between a 2027 opening and a 2028 opening may determine whether Downtown Miami maintains market continuity or cedes ground to Fort Lauderdale, Orlando, and Miami Beach. 10.12 Justification for $3 Million CRA Grant Contribution Proportional to Economic Return: $386M in cumulative 10-year economic output. A $3.5M CRA grant represents 1.0%of that return. Proportional to TIF Return: Under the Conservative Base Case (Scenario B), TIF reaches $1.98M over 16 years. Under the Stabilized Performance Case (Scenario C), TIF reaches $2.9M. The primary investment case rests on $1.1M in annual incremental tax revenue across all jurisdictions, totaling $11.1 M over 10 years. Proportional to Job Creation: $15,873 per job created —below the QTI benchmark of —$24,000 combined public investment per job. Market Risk Mitigation: CRA investment directly mitigates the quantifiable risk of Downtown Miami losing convention market share during the Knight Center transition. Each year of delay allows competing destinations to capture client relationships that may not return. Operational Viability: Positive NOI at stabilized occupancy confirms CRA participation is a one-time grant to complete the build -out, not a recurring subsidy. A $3.5 million CRA grant unlocks $38.6 million in annual economic output, 189 permanent jobs concentrated in and around the Overtown/Park West CRA, $1.65 to $2.89 million in direct TIF over 16 years depending on operational performance, $1.1 million in annual incremental tax revenue, and the preservation of Downtown Miami's convention market during its most vulnerable transition period. 11. Qualitative Benefits 11.1 Market Stewardship and Continuity Without mid -sized convention capacity in Downtown Miami during the Knight Center redevelopment, the destination risks client relationship atrophy, market perception damage, and competitive displacement. The Freedom Center directly addresses this risk. 11.2 Destination Enhancement Live -Work -Play Integration: Seamless access to accommodations, dining, and events within a single 51-story mixed - use tower. • Connectivity Hub: Proximity to Brightline, Metromover, Miami Worldcenter, and PortMiami. • Complementary to Miami Riverbridge: Events that start at the Freedom Center may grow over time into larger conventions served by the future Miami Riverbridge facility. 11.3 Community and Cultural Benefits • Art and Cultural Fairs: Gallery -style configurations support art fairs, cultural exhibitions, and community celebrations. • Educational Programming: Academic summits and professional development conferences support lifelong learning and workforce development. • Civic Engagement: Space for community forums and public engagement events. 15 Attachment: File # 19143 - Backup (19143 : 4/5th Vote: Grant to Sixth Street Miami Partners, LLC.) Packet Pg. 110 Freedom Center at Gale Miami Hotel BusinessFlare® 12. Conclusions and Recommendations 12.1 Summary of Findings The Freedom Center at Gale Miami Hotel (Floor 7, 42,000 SF) will generate substantial economic benefits at stabilized operations under the Moderate scenario: $18.9 million in annual direct visitor spending; $38.6 million in total annual economic output; 189 FTE jobs supported annually; $10.9 million in annual labor income; $1.1 million in annual incremental tax revenue; and $1.6 to $2.9 million in cumulative TIF over 16 years depending on operational performance. The complete $7.5 million build -out is funded by a one-time $3.5 million CRA grant and $4 million from Sixth Street Miami Partners, with no additional private capital required. 12.2 Recommendations • Approve the $3.5 million CRA grant contribution to fund the build -out of Floor 7. • Negotiate community hiring commitments targeting Tier 1 (Overtown/Park West CRA) and Tier 2 (Inner Downtown Core) residents for direct employment. Target stabilized operations at the Moderate scenario (60 event days) as the planning baseline, with infrastructure supporting the Strong scenario. Coordinate with the GMCVB for destination marketing support and client referrals from displaced Knight Center business. 16 Attachment: File # 19143 - Backup (19143 : 4/5th Vote: Grant to Sixth Street Miami Partners, LLC.) Packet Pg. 111 Freedom Center at Gale Miami Hotel BusinessFlare® Appendix A: Data Sources and References 1. Sixth Street Miami Partners / Freedom Center. Project Description and Facility Specifications. Floor plans, capacity data, and build -out scope provided by developer. 2. GMCVB. Visitor Industry Overview 2024. Prepared with data from Integrated Insight Inc., STR, and IMPLAN. 3. GMCVB. Miami -Dade Occupancy by Region, October 2025. Data from STR. 4. GMCVB. Analysis of Miami -Dade Tourist Taxes, Fiscal Year 2023/24. 5. Lightcast. 2024 Regional Multipliers, Miami -Dade County, FL. 6. City of Miami. Resolution 13923 and Ground Lease Agreement. Approved June 12, 2023. Limitations This analysis relies on the following key assumptions: (1) Attendee spending patterns align with GMCVB international visitor benchmarks, consistent with convention industry practice; (2) Average event attendance of 500 with 2.5-day average duration, based on facility capacity analysis; (3) Multiplier effects remain stable over the projection period; (4) No material changes to the Miami -Dade tax structure. Attendance and utilization projections are order -of -magnitude estimates appropriate for feasibility analysis. Actual results may vary based on market conditions, operator execution, and facility positioning. The Gale Conference Center (20,000 SF, 13 rooms) is a separate facility and is not included in this analysis. 17 Attachment: File # 19143 - Backup (19143 : 4/5th Vote: Grant to Sixth Street Miami Partners, LLC.) Packet Pg. 112 Freedom Center at Gale Miami Hotel BusinessFlare® Appendix B: TIF Revenue Projections Modeling Assumptions Parameter Value / Source City of Miami Millage Miami -Dade County Millage CRA TIF Capture Rate Effective TIF Rate Taxable Share of Improvements 7.1364 mills (FY2025 adopted rate) 4.574 mills (FY2025 adopted rate) 95% (Overtown/Park West CRA) 11.1295 mills (combined x 95%) 80% (conservative assumption) Total Build -Out Cost $7.5M Cost -Based Taxable Value (Yr 1) Annual Growth Rate Cap Rate (Scenarios B and C base) Cap Rate (Scenario C stabilized) Moderate NOI (Scenario B/C income approach) Strong NOI (Scenario C, Yr 6+) $6.0M ($7.5M x 80%) 5.5% property value appreciation 7.0% income approach 6.0% strong performance adjustment $1,036,000 $1,445,775 (estimated) Scenario A: Cost Escalation Only The most conservative scenario. No income approach is applied at any point. The cost -based taxable value grows at 5.5% annually throughout the full 16-year CRA period. This is the absolute floor for TIF projections. Year Taxable Value Annual TIF Revenue 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 $6,000,000 $6,330,000 $6,678,150 $7,045,448 $7,432,948 $7,841,760 $8,273,057 $8,728,075 $9,208,119 $9,714,566 $10,248,867 $10,812,554 $11,407,245 $12,034,643 18 $66,777 $70,450 $74,324 $78,412 $82,725 $87,275 $92,075 $97,139 $102,482 $108,118 $114,065 $120,338 $126,957 $133,940 Attachment: File # 19143 - Backup (19143 : 4/5th Vote: Grant to Sixth Street Miami Partners, LLC.) Packet Pg. 113 Freedom Center at Gale Miami Hotel BusinessFlare® 2041 2042 16-Year Total $12,696,549 $13,394,859 Year Valuation Basis 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 Cost Cost Income (7% cap) Income (7% cap) Income (7% cap) Income (7% cap) Income (7% cap) Income (7% cap) Income (7% cap) Income (7% cap) Income (7% cap) Income (7% cap) Income (7% cap) Income (7% cap) Income (7% cap) Income (7% cap) 16-Year Total Year Valuation Basis 2027 Cost 2028 Cost 2029 Income (7% cap, Moderate) 2030 Income (7% cap, Moderate) 2031 Income (7% cap, Moderate) 2032 Income (6% cap, Strong) 2033 Income (6% cap, Strong) 2034 Income (6% cap, Strong) 2035 Income (6% cap, Strong) 2036 Income (6% cap, Strong) 2037 Income (6% cap, Strong) 2038 Income (6% cap, Strong) $141,306 $149,078 $1,645,461 Taxable Value Annual TIF Revenue $6,000,000 $6,330,000 $11,840,000 $11,840,000 $11,840,000 $11,840,000 $11,840,000 $11,840,000 $11,840,000 $11,840,000 $11,840,000 $11,840,000 $11,840,000 $11,840,000 $11,840,000 $11,840,000 $66,777 $70,450 $131,773 $131,773 $131,773 $131,773 $131,773 $131,773 $131,773 $131,773 $131,773 $131,773 $131,773 $131,773 $131,773 $131,773 $1,982,053 Taxable Value Annual TIF Revenue 19 $6,000,000 $6,330,000 $11,840,000 $11,840,000 $11,840,000 $19,277,000 $19,277,000 $19,277,000 $19,277,000 $19,277,000 $19,277,000 $19,277,000 $66,777 $70,450 $131,773 $131,773 $131,773 $214,543 $214,543 $214,543 $214,543 $214,543 $214,543 $214,543 Attachment: File # 19143 - Backup (19143 : 4/5th Vote: Grant to Sixth Street Miami Partners, LLC.) Packet Pg. 114 Freedom Center at Gale Miami Hotel BusinessFlare® 2039 2040 2041 2042 Income (6% cap, Strong) Income (6% cap, Strong) Income (6% cap, Strong) Income (6% cap, Strong) $19,277,000 $19,277,000 $19,277,000 $19,277,000 $214,543 $214,543 $214,543 $214,543 16-Year Total $2,892,524 Note: Cap rate adjusts from 7% to 6% beginning Year 6 (Strong performance), reflecting reduced operational risk of a proven stabilized asset. Actual Property Appraiser valuations may vary. Scenario B ($1.98M) is the reliable planning floor; Scenario C ($2.89M) represents achievable upside. Actual results are likely to fall within the range of Scenarios B and C. TIF in Context: The Full Fiscal Picture Direct TIF increment represents approximately 15 to 20% of the Freedom Center's total annual fiscal contribution. The full incremental benefit includes Convention Development Tax ($157,000 annually at Moderate scenario), state sales tax ($681,000 annually), county surtax ($114,000 annually), catalytic property value effects throughout the district, and market preservation value during the Knight Center transition. These figures are calculated on the incremental basis of 60% out-of-town attendees only. CRA investment evaluation should weight the full fiscal benefit picture, not TIF alone. 20 Attachment: File # 19143 - Backup (19143 : 4/5th Vote: Grant to Sixth Street Miami Partners, LLC.) Packet Pg. 115 Freedom Center at Gale Miami Hotel BusinessFlare® About BusinessFlare® BusinessFlare® is a collaborative economic development enterprise that approaches Economic Development and Design in away that envisions each community's potential through a refreshing and unique experience based on authenticity, place brand and feasibility. "We design economic spaces for everybody." Since establishing the BusinessFlare® brand in January 2013, Kevin S. Crowder has helped more than 75 communities improve their economic condition, ranging in size from 1,500 to over 600,000. Since 2022 he has performed economic and fiscal analysis on projects representing more than $10 billion in private sector investment in Florida. BusinessFlare's recent CRA engagements include extensions for the Fort Lauderdale, North Miami, and Naranja Lakes CRAs; expansion of the Naranja Lakes, NW 7th Avenue, and West Perrine CRAs; redevelopment advisory for the Homestead CRA; CRA plan development for Palm Springs and Lake Park; and creation of CRAs in Allapattah, South Miami, Sweetwater, and Arcadia. BusinessFlare® is a State of Florida Veteran and Minority Owned Business. Kevin S. Crowder is a veteran of the U.S. Army, where he served in intelligence, and has over 30 years of experience in economic development, redevelopment, and revitalization, including 15 years as the Director of Economic Development and Government Affairs for the City of Miami Beach and the Miami Beach CRA. 21 Attachment: File # 19143 - Backup (19143 : 4/5th Vote: Grant to Sixth Street Miami Partners, LLC.) Packet Pg. 116 MIAMI GREATER MIAMI & MIAMI BEACH GREATER MIAMI CONVENTION & VISITORS BUREAU 3.5.b The Official Accredited Destination Sales & Marketing Organization for Greater Miami & Miami Beach January 29, 2026 SEOPW CRA Board Southeast Overtown/Park West Community Redevelopment Agency 819 N.W. 2nd Avenue, 3rd floor Miami, FL 33136 Dear Chairwoman King and Board Members: On behalf of the Greater Miami Convention & Visitors Bureau (GMCVB), I am pleased to express our support for the proposed development of the Freedom Center at the Gale Miami Hotel & Residences that will provide a conference and convention center within the hotel by repurposing vacant space. The Gale Miami Hotel & Residences is conveniently located behind the Freedom Tower and in the years to come will be cattycorner to the proposed Donald J. Trump Presidential Library. As President & CEO of the GMCVB, our mission is to promote Miami -Dade County as a premier global destination for leisure, business, meetings & conferences, and family travel. This area of Downtown Miami contains iconic hospitality assets such as Bayside Marketplace, the Kaseya Center and the Freedom Tower, attracting domestic and international visitors as well as group meetings that contribute to our local economy. The proposed Freedom Center represents an investment in the future growth of Miami and aligns with Miami -Dade County's tourism and economic development goals. Enhancements of this nature help ensure that our destination remains competitive by offering meeting space for smaller conferences and conventions which generate meaningful economic benefits for our community and supports jobs across hospitality, construction, and other related service sectors. For these reasons, the Greater Miami Convention & Visitors Bureau fully supports the proposed development of the Freedom Center at the Gale Miami Hotel & Residences. Thank you for your consideration. Sincerely, David Whitaker President and CEO Main Office: 201 S. Biscayne Blvd. Suite 2200, FL 33131 USA • Miami Beach: 1901 Convention Center Drive, Miami Beach, FL 33139 USA T. 1.800.933.8448 • T: 305.539.3000 • MiamiandMiamiBeach.com Attachment: File # 19143 - Backup (19143 : 4/5th Vote: Grant to Sixth Street Miami Partners, LLC.) Packet Pg. 117 3.5.b IMIAMDDA DOWNTOWN DEVELOPMENT AUTHORITY Board of Directors Ralph "Rafael" Rosado Chairman Commissioner, District 4 City of Miami Vicki L. Lopez Commissioner, District 5 Miami -Dade County Suzanne M. Amaducci Bilzin Sumberg T. Spencer Crowley III Akerman Jarred Diamond The Miami HEAT Group Martu Freeman -Parker MEF Productions LLC Patrick Goddard Brightline Arva Suzanne Graham Gibson Arva G. Consulting Amal Solh Kabbani Publicis Groupe, SA Nicolas Katz Skate Free Inc. Maryam Laguna Borrego Miami Dade College Jose Mallea Biscayne Bay Brewing Company Gary Ressler Tilia Companies Melissa Tapanes Llahues Bercow Radell Fernandez Larkin & Tapanes Executive Staff Christina Crespi CEO/Executive Director Ivonne Berrios-Colona CFO/CPO/Board Treasurer Southeast Overtown/Park West Community Redevelopment Agency 819 NW 2nd Avenue, 3rd Floor Miami, FL 33136 Dear Honorable Chairwoman Christine King and Members of the Southeast Overtown/Park West Community Redevelopment Agency Re: Letter of Support — Proposed Freedom Center Gale Miami Hotel & Residences On behalf of the Miami Downtown Development Authority (Miami DDA), we are pleased to submit this letter expressing our strong support for the proposed development of the Freedom Center, a conference and convention center located within the Gale Miami Hotel & Residences in the heart of Downtown Miami. As the agency charged with advancing economic development, business growth, and long-term competitiveness in Downtown Miami, the Miami DDA has witnessed firsthand the rapid transformation of the district. Downtown's residential density, office population, tourism activity, and global visibility have increased dramatically over the past decade. This growth has been further accelerated by Miami's emergence as an international business hub and global destination for major sporting, cultural, and business events. Today, Downtown Miami faces a structural shortage of modern, centrally located, flexible, and affordable conference and convening space. As visitor volumes and business travel continue to rise, demand has outpaced supply —particularly for venues that are accessible, scalable, and financially viable for mid -sized conventions, industry summits, nonprofit convenings, cultural exhibitions, and business gatherings. This gap is further intensified by the anticipated closure of key legacy venues, including the James L. Knight Center and MANA Wynwood, which historically served as anchors for conferences, cultural programming, and large-scale gatherings. Without new capacity coming online, the City risks losing convention bookings, visitor spending, and associated economic activity to competing domestic and international destinations that are actively investing in flexible, purpose-built convening infrastructure. The proposed Freedom Center at the Gale Miami Hotel & Residences offers a timely, strategic, and cost-effective solution to this growing market demand. By leveraging existing vertical infrastructure within an established 51-story mixed -use tower, this project creates a new, centrally located conference asset without the delays, costs, and land constraints associated with ground - up development. �MIAMIDDA DOWNTOWN DEVELOPMENT AUTHORITY 201 S. Biscayne Blvd, Suite 2600 Miami, FL 33131 305.579.6675 www.miamidda.com Attachment: File # 19143 - Backup (19143 : 4/5th Vote: Grant to Sixth Street Miami Partners, LLC.) Packet Pg. 118 3.5.b From an economic development perspective, this project directly advances the core mission of the Southeast Overtown/Park West CRA by activating underutilized space, generating year-round economic activity, expanding the tax base, and creating sustainable employment opportunities. The Freedom Center will drive consistent visitor flows that support surrounding hotels, restaurants, small businesses, cultural institutions, and service providers —while creating jobs in hospitality, operations, logistics, event production, and facility management, many of which are accessible to nearby residents through direct transit connectivity. Importantly, this project addresses Downtown Miami's growing need for affordable, accessible conference space that supports inclusive economic growth —ensuring that nonprofits, small and mid -sized organizations, startups, cultural institutions, community -based organizations, and emerging industries have access to high -quality convening facilities that are not limited exclusively to luxury or premium -priced venues. By repurposing vacant raw space in a prime downtown location, the Freedom Center represents a highly efficient model of urban redevelopment —maximizing public benefit while leveraging existing private infrastructure to deliver long-term, sustainable economic returns. For these reasons, the Miami Downtown Development Authority strongly supports the request for SEOPW CRA funding to facilitate the build -out and completion of the Freedom Center. This investment will catalyze new economic activity, strengthen Downtown Miami's convention and business tourism ecosystem, advance community revitalization goals, and position Overtown and the urban core as integral beneficiaries of Miami's continued global growth. We appreciate the Board's thoughtful consideration of this proposal and stand ready to collaborate in advancing this strategic opportunity for Overtown, Downtown Miami, and the City of Miami as a whole. Sincerely, Christina Crespi Chief Executive Officer/Executive Director Attachment: File # 19143 - Backup (19143 : 4/5th Vote: Grant to Sixth Street Miami Partners, LLC.) Packet Pg. 119 OZ6 'Bd la)I3ed 0 0 0 0 0 0 0 0 0 0 ❑ LARGE BALLROOM ❑ MED BALLROOM ❑ MEETING ROOMS 0 0 0 I fin nnnnm•nm:;nn ( �� IE 0 0 0 0 0 0 c c 0 0 0 NNW T 0 0 o c, n 7th floor Ts s !J 2/28/26 o0o0oo00o c, E, n TF ORM PROJECT DESIGNEANUp STRUCTURAL ENGINEER LIFE SAFETY CODE CONSULTANT GFO INVESTMENTS PROJECT FREEDOM CENTER 601 NE 1ST AVENUE MIAMI, FL ISSUED FOR: DATE No. DATE REMARKS SEAL SHEET TITLE: 7TH FLOOR PLAN DRAWN BY: CHECKED BY: JOB NO. SHEET NO.' A-1 storage 1 845 SF 5 occ L_ TERRACE 11=1�� prefunction BAR 00000 0 0 0 0 MEETING 1 976 SF MEETING 5 2224 SF 144 OCC 8 storage 1 845 SF 5 occ u TERRF CE prefunction looloolool 320 SEATS 21'X21' DANCE FLOOR TAB DJ 8 8 ED ADED ED ED ED 9 9 BANQUETTE / WEDDING 320 SEATS / 384 @ 12T looloolool LED LED unc D 0 0 0 0 0 0 0 0 0 um_ 0 000 000 TERRACE ❑ c WATER COFFEE looloolool 1' I I I SCREEN STA SCREE THEATER LAYOUT 560 SEATS «- ._ 11 I L T FORM PROJECT DESIGN TEAM: ME.P. ENGINEER STRUCTURAL ENGINEER LIFE SAFETY CODE CONSULTANT GEO INVESTMENTS PROJECT FREEDOM CENTER 601 NE 1ST AVENUE MIAMI, FL ISSUED FOR: DATE No. DATE REMARKS SEAL SHEET TITLE: SPACE PLANS DRAWN BY: CHECKED BY: JOB NO. SHEET NO.' SP- A ZZ I .6d le) 3ed TERF R 01 O TERRACE TERRACE storage 1 845 SF 0� � ALA JLA MEETING RM'2- 120 SEATS MEETING RM 1-46 SEATS MEETING RM 4-46 SEATS MEETING RM 5-130 (156 @ 12/T) SEATS pref unction BAR OOOOO prefunctian TERRACE EAST BALLROOM dPD 17000 PD P WEST BALLROOM BANQUETTE / WEDDING 12 TOPS/ NO DANCE FLOOR 288 SEATS I 111111f11� ieA 440 SEATS BANQUETTE / WEDDING 12 TOPS/ NO DANCE FLOOR 528 SEATS ri \� h JI� I MEETING RM 3- 160 SEATS .ALA .- ...f..Aft f.f.. A" .. A Aft A A_ eh • A I f,A A ° ^ I I A. BUILT F❑ R M PROJECT DESIGN TEAM M.E.P. ENGINEER STRUCTURAL ENGINEER LIFE SAFETY CODE CONSULTANT GFO INVESTMENTS SHEET TITLE: SPACE PLANS DRAWN BY: CHECKED BY: JOB NO 3.5.b DIVISION OF CORPORATIONS i ft]rf.Or t P iiF ;2!fVIfjs 1 WI rrfttrail Lillie of Flrgi& 1,vkb iU Department of State / Division of Corporations / Search Records / Search by Entity Name / Detail by Entity Name Foreign Limited Liability Company SIXTH STREET MIAMI PARTNERS LLC Filing Information Document Number M18000010212 FEI/EIN Number 83-2452458 Date Filed 11/13/2018 State DE Status ACTIVE Principal Address 2200 Biscayne Blvd. Miami, FL 33137 Changed: 02/20/2020 Mailing Address 2200 Biscayne Blvd. Miami, FL 33137 Changed: 02/20/2020 Registered Agent Name & Address Bai, Huilin c/o Crescent Heights 2200 Biscayne Blvd Miami, FL 33137 Name Changed: 04/30/2025 Address Changed: 04/27/2021 Authorized Person(s) Detail Name & Address Title President Galbut, Marisa A 2200 Biscyne Blvd Miami, FL 33137 Attachment: File # 19143 - Backup (19143 : 4/5th Vote: Grant to Sixth Street Miami Partners, LLC.) Title VP Packet Pg. 123 3.5.b Menin , Keith 2200 Biscayne Blvd. Miami, FL 33137 Title VP, Secretary Rozsansky, Binyomin 2200 BISCAYNE BLVD MIAMI, FL 33137 Title Treasurer Aguiar, Dayami 2200 Biscayne Blvd. Miami, FL 33137 Title VP Carrera, Lidia 2200 Biscayne Blvd. Miami, FL 33137 Annual Reports Report Year Filed Date 2023 04/28/2023 2024 04/30/2024 2025 04/30/2025 Document Images 04/30/2025 -- ANNUAL REPORT 04/30/2024 -- ANNUAL REPORT 12/20/2023 -- AMENDED ANNUAL REPORT 04/28/2023 -- ANNUAL REPORT 04/20/2022 -- ANNUAL REPORT 04/27/2021 --AMENDED ANNUAL REPORT 03/25/2021 -- ANNUAL REPORT 09/30/2020 -- AMENDED ANNUAL REPORT 02/20/2020 -- ANNUAL REPORT 04/05/2019 -- ANNUAL REPORT 11/13/2018 -- Foreign Limited View image in PDF format View image in PDF format View image in PDF format View image in PDF format View image in PDF format View image in PDF format View image in PDF format View image in PDF format View image in PDF format View image in PDF format View image in PDF format Florida Department of State, Division of Corporations Attachment: File # 19143 - Backup (19143 : 4/5th Vote: Grant to Sixth Street Miami Partners, LLC.) Packet Pg. 124 3.5.c SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY PLEASE ALL TAKE NOTICE, the Board of Commissioners ("Board") of the Southeast Overtown / Park West Community Redevelopment Agency ("SEOPW CRA") will hold a Public Hearing meeting on Thursday, April 9, 2026, at 10:00 A.M., or anytime thereafter, in the City Commission chambers located at Miami City Hall, 3500 Pan American Drive, Miami, Florida 33133. The Board will consider the allocation of funding to Sixth Street Miami Partners LLC, a Foreign Limited Liability Company authorized to conduct business in the State of Florida ("Grantee"), to underwrite costs for the buildout and development of a Convention and Exhibition Center (to be referred to as the "Freedom Center") within the SEOPW CRA Redevelopment Area at Gale Miami Hotel (Folio no: 01-0105-090- 2160), generally located at 159 N.E. 6th Street, Miami, Florida 33132. In accordance with the SEOPW CRA 2018 Redevelopment Plan Update ("Plan") and Section 163, Florida Statutes, the Board will consider awarding a grant to Grantee in an amount not to exceed Three Million Dollars and Zero Cents ($3,000,000.00). All comments and questions with respect to the meeting and public participation should be addressed to James D. McQueen, Executive Director, or Vincent T. Brown, Esq., Staff Counsel/Deputy Director, at 819 N.W. 2nd Avenue, 3rd Floor, Miami, Florida 33136 or (305) 679-6800. This action is being considered pursuant to Section(s) 18-85 and 18-86 of the Code of the City of Miami, Florida as amended ("City Code"). The recommendation and findings to be considered in this matter are set forth in the proposed resolution and will be available as with the scheduled SEOPW CRA Board meeting or anytime thereafter in the City Commission chambers. The Board requests all interested parties be present or represented at the meeting, and may be heard with respect to any proposition before the Board in which it may take action. Should any person desire to appeal any decision of the Board with respect to any matter considered at this meeting, that person shall ensure that a verbatim record of the proceedings is made, including all testimony and evidence upon which any appeal may be based (F.S. 286.0105). Pursuant to CRA-R-24-0071, whenever a scheduled SEOPW CRA meeting is cancelled or is not held due to a lack of a quorum or other emergency, a special SEOPW CRA meeting will be automatically scheduled for the Tuesday immediately following the cancelled meeting. In the event of one of the aforementioned circumstances, the special meeting would be held on April 14, 2026, at 10:00 a.m., or anytime thereafter, in the Attachment: File # 19143 - Notice To The Public (19143 : 4/5th Vote: Grant to Sixth Street Miami Partners, LLC.) Packet Pg. 125 3.5.c City Commission chambers located at Miami City Hall, 3500 Pan American Drive, Miami, Florida 33133. All of the scheduled agenda items from that cancelled meeting shall automatically be scheduled as an agenda item at the special SEOPW CRA meeting. The Clerk of the Board shall notify the public of the special meeting that is to take place by placing a notice of the special SEOPW CRA meeting at the entrance of City Hall, placing a notice on the SEOPW CRA's website, and, if feasible, placing an ad in a newspaper of general circulation before the special meeting on the immediately following Tuesday. There shall be no additional notice by publication required for any such scheduled agenda item that is moved to the special SEOPW CRA meeting. In accordance with the Americans with Disabilities Act of 1990, persons needing special accommodations to participate in this proceeding may contact the Office of the City Clerk at (305) 250-5361 (Voice), not later than two (2) business days prior to the proceeding. TTY users may call 711 (Florida Relay Service), not later than two (2) business days prior to the proceeding. Ad No. 43922 James D. McQueen, Executive Director Southeast Overtown/Park West Community Redevelopment Agency Attachment: File # 19143 - Notice To The Public (19143 : 4/5th Vote: Grant to Sixth Street Miami Partners, LLC.) Packet Pg. 126 3.6 SEOPW Board of Commissioners Meeting April 9, 2026 SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY INTER -OFFICE MEMORANDUM To: Board Chair Christine King Date: April 2, 2026 and Members of the CRA Board File: 19144 From: James McQueen Executive Director Subject: Retroactively Approve and Adopt SEOPW CRA Financial Statements and Audit Report, FY 2025-26. Enclosures: File # 19144 Exhibit A File # 19144 Exhibit B BACKGROUND: A Resolution of the Board of Commissioners of the Southeast Overtown/Park West Community Redevelopment Agency ("SEOPW CRA"), with attachment(s), retroactively approving and adopting the SEOPW CRA Financial Statements and Audit Report ("2025 Audit"), attached and incorporated herein as Exhibits "A-B," respectively, for the fiscal year commencing October 1, 2024 and ending September 30, 2025 ("FY 2024-2025") ("Purpose"). It is recommended that the Board of Commissioners of the SEOPW CRA approve and adopt the attached Resolution, retroactively approving and adopting the 2025 Audit for FY 2024-2025. Packet Pg. 127 3.6 AGENDA ITEM FINANCIAL INFORMATION FORM SEOPW CRA CRA Board Meeting Date: April 9, 2026 CRA Section: Approved by: Executive Director 4/2/2026 Approval: Miguel A Valcntlr , iriarce Officer 4/2/2026 Page2of4 Packet Pg. 128 3.6 Southeast Overtown/Park West Community Redevelopment Agency File Type: CRA Resolution Enactment Number: File Number: 19144 Final Action Date: A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("SEOPW CRA"), WITH ATTACHMENT(S), RETROACTIVELY APPROVING AND ADOPTING THE SEOPW CRA FINANCIAL STATEMENTS AND AUDIT REPORT ("2025 AUDIT"), ATTACHED AND INCORPORATED HEREIN AS EXHIBITS "A-B," RESPECTIVELY, FOR THE FISCAL YEAR COMMENCING OCTOBER 1, 2024 AND ENDING SEPTEMBER 30, 2025 ("FY 2024-2025"); PROVIDING FOR THE INCORPORATION OF RECITALS AND AN EFFECTIVE DATE. WHEREAS, the Southeast Overtown/Park West Community Redevelopment Agency ("SEOPW CRA") is a community redevelopment agency created pursuant to Chapter 163, Florida Statutes, and is responsible for carrying out community redevelopment activities and projects within its Redevelopment Area ("Redevelopment Area") in accordance with the 2018 Updated Southeast Overtown/Park West Redevelopment Plan (the "Plan"); and WHEREAS, on October 24, 2025, the SEOPW CRA issued Request for Proposals ("RFP") #25- 07, inviting proposals from qualified audit firms to assist the SEOPW CRA in performing the necessary financial audit services, as required by Section 218.39, Florida Statutes, and in accordance with government auditing standards, as adopted by the Florida Board of Accountancy; and WHEREAS, on November 17, 2025, the SEOPW CRA's Auditor Selection Committee ("Committee"), established through Resolution No. CRA-R-25-0065, adopted on October 23, 2025 by the Board of Commissioners ("Board"), selected Richie Tandoc, P.A. ("Auditor"), to perfotin the necessary financial audit services; and WHEREAS, the Auditor has presented its results of the basic financial statements of the SEOPW CRA, attached and incorporated herein as Exhibits "A-B," summarizing the audits, engagement, and key observations and findings for Fiscal Year 2024-2025 ("FY 2024-2025"), including the communications required by generally accepted professional standards and by Government Auditing Standards; and WHEREAS, the Board of Commissioners wishes to retroactively approve and adopt the SEOPW CRA's 2025 Audit Report for FY 2024-2025, as set forth in Exhibit "A-B"; and WHEREAS, the SEOPW CRA and the Committee have dutifully complied with Section(s) 218.39 and 218.391, Florida Statutes; and WHEREAS, the Board of Commissioners finds that adopting this Resolution would further the redevelopment goals and objectives of the SEOPW CRA. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY: Page 3of4 Packet Pg. 129 3.6 Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by reference and incorporated herein as if fully set forth in this Section. Section 2. The Committee recommends to the Board of Commissioners of the SEOPW CRA that the 2025 Audit, attached and incorporated herein as Exhibits "A-B," be hereby retroactively approved and adopted. Section 3. The Board of Commissioners of the SEOPW CRA hereby approves and adopts the 2025 Audit. Section 5. Sections of this Resolution may be renumbered or re -lettered and corrections of typographical errors which do not affect the intent may be authorized by the Executive Director, or the Executive Director's designee, without need for public hearing, by filing a corrected copy of same with the City of Miami City Clerk. Section 6. This Resolution shall become effective immediately upon its adoption. APPROVED AS TO FORM AND LEGAL SUFFICIENCY: Wei B aw-3tnTrtounsel 4/2/2026 Page 4 of 4 Packet Pg. 130 3.6.a CITY OF MIAMI SOUTHEAST OVERTOWN PARK WEST COMMUNITY REDEVELOPMENT AGENCY (A Component Unit of the City of Miami, Florida) Basic Financial Statements September 30, 2025 Attachment: File # 19144 Exhibit A (19144 : Retroactively Approve and Adopt SEOPW CRA Financial Statements and Audit Report, FY 2025-26.) Packet Pg. 131 3.6.a CITY OF MIAMI SOUTHEAST OVERTOWN PARK WEST COMMUNITY REDEVELOPMENT AGENCY (A COMPONENT UNIT OF THE CITY OF MIAMI, FLORIDA) TABLE OF CONTENTS SEPTEMBER 30, 2025 Independent Auditor's Report Management's Discussion and Analysis (Required Supplementary Information) Panes 1-2 3-7 Basic Financial Statements: Government -wide Financial Statements: Statement of Net Position 8 Statement of Activities 9 Fund Financial Statements: Balance Sheet — Governmental Funds 10 Reconciliation of the Balance Sheet - Governmental Funds to the Statement of Net Position 11 Statement of Revenues, Expenditures, and Changes in Fund Balances — Governmental Funds 12 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds to the Statement of Activities 13 Notes to Basic Financial Statements 14-25 Required Supplementary Information (Unaudited): Budgetary Comparison Schedule — Special Revenue Fund Note to Required Supplementary Information 26 27 Other Reports: Independent Auditor's Report on Intemal Control Over Financial Reporting and and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance With Government Auditing Standards 28-29 Management letter in Accordance with the Rules of the Auditor General of the State of Florida 30-31 Independent Accountant's Report on Compliance with Sections 163.387(6) and (7), Florida Statutes 32 Attachment: File # 19144 Exhibit A (19144 : Retroactively Approve and Adopt SEOPW CRA Financial Statements and Audit Report, FY 2025-26.) Packet Pg. 132 3.6.a X 1c' T iobc, C6rtifieci itnblic { ccoAvrt-atirt- Goosv►dto 13453 Sw 105" Ava, Florida 33174) 1 T. (305)1zo-25ol INDEPENDENT AUDITOR'S REPORT The Board of Directors City of Miami Southeast Overtown Park West Community Redevelopment Agency: Opinions We have audited the accompanying financial statements of the governmental activities and each major fund of the City of Miami Southeast Overtown Park West Community Redevelopment Agency (the Agency), a component unit of the City of Miami, Florida, as of and for the year ended September 30, 2025, and the related notes to the financial statements, which collectively comprise the Agency's basic financial statements as fisted in the table of contents. In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities and each major fund of the Agency as of September 30, 2025, and the respective changes in financial position thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America. Basis for Opinions We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Agency, and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Responsibilities of Management for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Agency's ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter. Auditor's Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with generally accepted auditing standards and Government Auditing Standards will always detect a material misstatement when it exists. Attachment: File # 19144 Exhibit A (19144 : Retroactively Approve and Adopt SEOPW CRA Financial Statements and Audit Report, FY 2025-26.) 1 Packet Pg. 133 3.6.a The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. In performing an audit in accordance with generally accepted auditing standards and Government Auditing Standards, we: • Exercise professional judgment and maintain professional skepticism throughout the audit. • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Agency's internal control. Accordingly, no such opinion is expressed. • Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements. • Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Agency's ability to continue as a going concern for a reasonable period of time. We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control -related matters that we identified during the audit. Required Supplementary Information Accounting principles generally accepted in the United States of America require that the management's discussion and analysis and budgetary comparison information be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Other Reporting Required by GovernmentAuditing Standards In accordance with Government Auditing Standards, we have also issued our report dated February 3, 2026 on our consideration of the Agency's internal control over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the Agency's internal control over financial reporting. Miami, Florida February 3, 2026 Attachment: File # 19144 Exhibit A (19144 : Retroactively Approve and Adopt SEOPW CRA Financial Statements and Audit Report, FY 2025-26.) 2 Packet Pg. 134 3.6.a CITY OF MIAMI SOUTHEAST OVERTOWN PARK WEST COMMUNITY REDEVELOPMENT AGENCY (A COMPONENT UNIT OF THE CITY OF MIAMI, FLORIDA) MANAGEMENT'S ❑ISCUSSION AND ANALYSIS - UNAUDITED SEPTEMBER 30, 2025 This section of the City of Miami Southeast Overtown Park West Community Redevelopment Agency (the Agency) financial statements presents management's analysis of the financial performance for the fiscal year ended September 30, 2025. This discussion addresses whether or not the Agency as a whole is better off or worse off as a result of this year's activities. Overview The purpose of the Agency is to eliminate blight and slum conditions within the redevelopment area of the Agency, pursuant to the redevelopment plans of the Agency for new residential and commercial activity in the Southeast Overtown area. The Agency's primary source of revenue is tax -increment funds. This revenue is computed by applying the operating tax rate for the City and the County, multiplied by the increased value of property located within the boundaries of the redevelopment areas of the Agency, over the base property value, minus 5%. Both the City and the County are required to fund this amount annually without regard to tax collections or other obligations. On August 6, 2007, the City, County and The Children's Trust (the Trust) entered into an Interlocal Agreement with the Agency, whereby the Agency would receive from the Trust, on an annual basis, tax increment revenues derived from the imposition of a half -mil tax levied by the Trust against real property located within the redevelopment district (referred to as Trust revenues). The agency agreed to use the Trust revenues for debt service on, and other obligations relating to, existing debts of the Agency only after all other available tax increment revenues have been exhausted for such purpose, and to remit to the Trust on the last day of the Agency's fiscal year, all of the Trust revenues that are not needed for debt service on, or other obligations relating to, existing debts of the Agency. Further, the Agency's policy is set by a board of directors comprised of the five members of the City commission and are separate, distinct and independent from the governing body of the City; and its management plan is executed by a small professional staff led by its executive director. Financial Hip hiiphts The liabilities of the Agency exceeded its assets at the close of its most recent fiscal year by $53,234,958. Of this amount, $30,327,787 is invested in capital assets, and $150,000,000 is restricted for capital projects, resulting in $(127,092,829) (unrestricted net deficit) available to meet the Agency's obligations to citizens in the Southeast Overtown area. At the close of the current fiscal year, the Agency's governmental funds reported combined ending fund balances of $197,596,804, an increase of $151,224,450 in comparison with the prior year. This significant increase was mainly a result of the issuance of Tax Increment Revenue Bonds, Series 2025A and Tax Increment Revenue Refunding Bonds, Series 2025B during the current fiscal year. Overview to the Financial Statements This discussion and analysis is intended to serve as an introduction to the Agency's basic financial statements. The Agency's basic financial statements are comprised of three components: • Government -wide financial statements • Fund financial statements • Notes to the basic financial statements In addition, the Agency reports, as required supplementary information, a budget to actual comparison and notes to the required supplementary information. Attachment: File # 19144 Exhibit A (19144 : Retroactively Approve and Adopt SEOPW CRA Financial Statements and Audit Report, FY 2025-26.) 3 Packet Pg. 135 3.6.a CITY OF MIAMI SOUTHEAST OVERTOWN PARK WEST COMMUNITY REDEVELOPMENT AGENCY (A COMPONENT UNIT OF THE CITY OF MIAMI, FLORIDA) MANAGEMENT'S DISCUSSION AND ANALYSIS - UNAUDITED SEPTEMBER 30, 2025 Government -wide Financial Statements The government -wide financial statements are designed to provide readers with a broad overview of the Agency's finances, in a manner similar to a private -sector business (i.e. economic resources and measurement focus). The statement of net position presents information on all of the Agency's assets and liabilities, with the difference between the two reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the Agency is improving or deteriorating. The statement of activities presents information showing how the Agency's net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of the related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods. The government -wide financial statements may be found on pages 8 and 9 of this report. Fund Financial Statements A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The Agency, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance related legal requirements. All of the funds of the Agency are categorized as governmental funds. Governmental funds are used to account for essentially the same functions reported as governmental activities in the government -wide financial statements. However, unlike the government -wide financial statements, governmental fund financial statements focus on near -term inflows and outflows of expendable resources, as well as on balances of expendable resources available at the end of the fiscal year. Such information may be useful in evaluating a government's near -term financing requirements. Because the focus of governmental funds is narrower than that of the government -wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government -wide financial statements. By doing so, readers may better understand the long-term impact of the government's near -term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities. The Agency maintains four individual governmental funds during fiscal year 2025. Information is presented separately in the governmental fund balance sheet and in the governmental fund statement of revenues, expenditures, and changes in fund balances for each governmental fund. The basic governmental fund financial statements can be found on pages 10 and 12 of this report. The reconciliations between the governmental funds and governmental activities can be found on pages 11 and 13 of this report. Notes to the Basic Financial Statements The notes provide additional information that is essential to a full understanding of the data provided in the government -wide and fund financial statements. The notes to the basic financial statements can be found on pages 14 to 25 of this report. Attachment: File # 19144 Exhibit A (19144 : Retroactively Approve and Adopt SEOPW CRA Financial Statements and Audit Report, FY 2025-26.) 4 Packet Pg. 136 3.6.a CITY OF MIAMI SOUTHEAST OVERTOWN PARK WEST COMMUNITY REDEVELOPMENT AGENCY (A COMPONENT UNIT OF THE CITY OF MIAMI, FLORIDA) MANAGEMENT'S DISCUSSION AND ANALYSIS - UNAUDITED SEPTEMBER 30, 2025 Budgetary Highlights The Agency adopts an annual budget on an individual fund basis. A budgetary comparison schedule has been provided for the Special Revenue Fund to demonstrate compliance with the budget on page 26 of this report. The following is a brief review of the significant variances between the original budget and the final budget, if any, as well as the significant variances between the final budget and actual amounts, for the Special Revenue Fund: ■ The significant variance between the final budget and actual amounts reported for community redevelopment expenditures is a result of redevelopment projects that either did not commence yet or were not yet completed as planned. Financial Analysis Government -wide Analysis Our analysis of the financial statements of the Agency begins below. The Statement of Net Position and the Statement of Activities report information about the Agency's activities that will help answer questions about the position of the Agency. A summary of the Agency's net position is presented in Table A-1 and a summary of changes in net position is presented in Table A-2. Table A-1 Summary of Net Position FY 2025 FY 2024 Cash Restricted cash Interest receivable Loan receivable Lease receivables Capital assets, net Total assets Current liabilities Non -current liabilities Total liabilities Deferred Inflows of Resources Net position: Net investment in capital assets Restricted for capital projects Unrestricted Total net position $ 47,625,415 150,000,000 376,632 163,106 238,769 32,919,076 231,322,998 580,239 177,280,922 177,861,161 226,879 47,984,131 353,502 195,593 413,201 32,730,701 81, 677,128 2,547,237 27,097,485 32,005,955 401,253 30,327,787 30,201,837 150,000,000 (127,092,829) 19,068,083 53,234,958 $ 49,269,920 ■ Increase in restricted cash from the prior year is a result of the issuance of Tax Increment Revenue Bonds, Series 2025A in the current year. ■ Increase in non -current liabilities from the prior year is a result of the issuance of Tax Increment Revenue Bonds, Series 2025A and Tax Increment Revenue Refunding Bonds, Series 2025E in the current year. Attachment: File # 19144 Exhibit A (19144 : Retroactively Approve and Adopt SEOPW CRA Financial Statements and Audit Report, FY 2025-26.) 5 Packet Pg. 137 3.6.a CITY OF MIAMI SOUTHEAST OVERTOWN PARK WEST COMMUNITY REDEVELOPMENT AGENCY (A COMPONENT UNIT OF THE CITY OF MIAMI, FLORIDA) MANAGEMENT'S DISCUSSION AND ANALYSIS - UNAUDITED SEPTEMBER 30, 2025 • A portion of the Agency's net position in the current year ($30,327,787) reflects its net investment in capital assets (e.g. furniture and equipment, infrastructure and land), less any related outstanding debt used to acquire those assets. These assets are not available for future spending. • A portion of the Agency's net position in the current year ($150,000,000) reflects the funding from the issuance of Tax Increment Revenue Bonds, Series 2025A restricted for specific capital projects. • The remaining portion of the Agency's net position in the current year (-$127,017,829) represents resources that are unrestricted and available for any lawful use by the Agency. Table A-2 Summary of Changes in Net Position FYE 2025 FYE 2024 Revenues: General revenues: Tax increment revenue Charges for Services - leases Investment income Other Total revenues Expenses: General government Community redevelopment Interest on long-term debt Total expenses Change in net position Net position, beginning of year Net position, end of year $ 52,653,923 $ 48,080,037 174,374 150,823 1,171,240 2,583,622 5,142, 891 2,368,169 60,328,127 53,182,651 4,016,863 51,174,986 1,171,240 56,363,089 3,965,038 49,269,920 $ 53,234,958 5,331,650 34, 698,178 1,006,730 41,036,558 12,146,093 20,65Z 114 $ 49,269,920 • Tax increment revenue increased as a result of the increase in the payout by the City and County from the prior year. • Other revenues increased as a result of the reversal of accrued retainage from previous years and income collected for rent on multiple properties managed by a third -party management company. • Community redevelopment expenses increased in the current year as a result of the increase in project activity. Individual Fund Analysis The fund balance for the Special Revenue Fund increased from $42,025,905 at September 30, 2024 to $44,747,871 at September 30, 2025. The fund balance in the Capital Projects Fund was new during 2025 due to the Tax Increment Revenue Bonds, Series 2025A, and as such has a fund balance of $150,000,000 at September 30, 2025. The fund balance for the Debt Service Fund remained at $0 at September 30, 2025, compared to September 30, 2024. The fund balance for the Non -Major Governmental Fund decreased from $4,346,449 at September 30, 2024 to $2,848,933 at September 30, 2025. Since the Agency only has governmental funds/activities, the changes in fund balance also explain the increases in net position. The following are key factors in the changes in fund balances for 2025: • The decrease in fund balance in the Special Revenue Fund was mainly due to the increase use of Non- TIF funds on redevelopment projects during the current fiscal year as compared to the prior fiscal year. Attachment: File # 19144 Exhibit A (19144 : Retroactively Approve and Adopt SEOPW CRA Financial Statements and Audit Report, FY 2025-26.) 6 Packet Pg. 138 3.6.a CITY OF MIAMI SOUTHEAST OVERTOWN PARK WEST COMMUNITY REDEVELOPMENT AGENCY (A COMPONENT UNIT OF THE CITY OF MIAMI, FLORIDA) MANAGEMENT'S DISCUSSION AND ANALYSIS - UNAUDITED SEPTEMBER 30, 2025 Capital Assets As of September 30, 2025, the Agency's investment in capital assets, net of accumulated depreciation, amounted to $32,919,076, increasing from $30,201,837 as of September 30, 2024. Land Construction -in -progress Furniture and equipment Infrastructure Right of use lease asset Total capital assets Summary of Capital Assets (Net of Accumulated Depreciation) Fiscal Year 2025 $ 19,911,165 $ 3,795,102 59,242 6,610,641 2,542,926 $ 32,919,076 $ Additional capital asset information can be found on page 19 of this report. Fiscal Year 2024 19,911,165 3,077,484 54,025 7,159,163 2,528,864 32,730,701 Long-term Obligations During the fiscal year 2014, the Agency issued $55,885,000 (Series 2014A-1) in tax increment revenue bonds. These bonds are secured by a pledge of certain tax increment revenue amounts received from the City and County on the Southeast Overtown/Park West Community Redevelopment area. The proceeds of the bonds were to be used to pay all or part of the costs of the construction and/or rehabilitation of certain redevelopment projects undertaken pursuant to the Redevelopment Plan. During the fiscal year 2025, the Agency issued $142,235,000 in tax increment revenue bonds (Series 2025A) and $19,675,000 in tax increment revenue refunding bonds (Series 2025B). These bonds are secured by a pledge of certain tax increment revenue amounts received from the City and County on the Southeast Overtown/Park West Community Redevelopment area. The proceeds of the Series 2025A bonds are to be used to pay all or part of the costs of the construction and/or rehabilitation of certain redevelopment projects undertaken pursuant to the Redevelopment Plan. The proceeds of the Series 20256 bonds were used to refund all of the Series 2014A-1 bonds and pay the costs of issuance related to the Series 2025E bonds. As of September 30, 2025, the Agency has bonds and loan outstanding in the amount of $174,460,819 compared to $30,616,209 as of September 30, 2024. Other than the Series 2025A and Series 2025E bonds, no other debt was issued during fiscal year 2025. Also as of September 30, 2025, the Agency has lease liabilities of $2,591,289 compared to $2,547,237 as of September 30, 2024, and compensated absences payable as of September 30, 2025 of $228,814 compared to $188,413 as of September 30, 2024. Additional long-term debt information can be found on pages 20 and 22 of this report. Requests for Information This financial report is designed to provide a general overview of the Agency's finances. Questions concerning any of the information provided in this report or requests for additional information should be addressed to the Executive Director, 819 NW 2nd Ave 3rd Floor Miami FL 33136. Attachment: File # 19144 Exhibit A (19144 : Retroactively Approve and Adopt SEOPW CRA Financial Statements and Audit Report, FY 2025-26.) 7 Packet Pg. 139 3.6.a CITY OF MIAMI SOUTHEAST OVERTOWN PARK WEST COMMUNITY REDEVELOPMENT AGENCY (A COMPONENT UNIT OF THE CITY OF MIAMI, FLORIDA) STATEMENT OF NET POSITION SEPTEMBER 30, 2025 Governmental Activities ASSETS Current assets: Cash $ 47,625,415 Restricted cash 150,000,000 Interest receivable 376,632 Loan receivable 33,811 Lease receivables 112,784 Non -current assets: Loan receivable 129,295 Lease receivables 125,985 Capital assets (net of accumulated depreciation): Land 19,911,165 Construction-i n-progress 3,795,102 Furniture and equipment 59,242 Infrastructure 6,610,641 Right to use leased asset 2,542,926 Total assets 231,322,998 LIABILITIES Accounts payable and accrued liabilities 580,239 Non -current liabilities: Due within one year: Bond payable 6,130,000 Lease liabilities 594,057 Due in more than one year: Bond and loan payable 168,330,819 Lease liabilities 1,997,232 Compensated absences 228,814 Total liabilities 177,861,161 DEFERRED INFLOWS OF RESOURCES Leases 226,879 NET POSITION Net investment in capital assets 30,327,787 Restricted for capital projects 150,000,000 Unrestricted (deficit) (127,092,829) Total net position 53,234,958 The accompanying notes are an integral part of the basic financial statements. Attachment: File # 19144 Exhibit A (19144 : Retroactively Approve and Adopt SEOPW CRA Financial Statements and Audit Report, FY 2025-26.) 8 Packet Pg. 140 3.6.a CITY OF MIAMI SOUTHEAST OVERTOWN PARK WEST COMMUNITY REDEVELOPMENT AGENCY (A COMPONENT UNIT OF THE CITY OF MIAMI, FLORIDA) STATEMENT OF ACTIVITIES YEAR ENDED SEPTEMBER 30, 2025 Expenses Program Revenues Net Revenue (Expense) and Charges for Changes in Net Services Position Functions/Programs Governmental Activities: General government $ 4,016,863 $ 174,374 $ (3,842,489) Community redevelopment 51,174,986 - (51,174,986) Interest on long-term obligations 1,171,240 - (1,171,240) Total governmental activities $ 56,363,089 $ 174,374 (56,188,715) General revenues: Tax increment revenue 52,653,923 Other 5,142,891 Investment income 2,356,939 Total general revenues 60,153,753 Change in net position 3,965,038 Net position - beginning of year 49,269,920 Net position - end of year $ 53,234,958 The accompanying notes are an integral part of the basic financial statements. Attachment: File # 19144 Exhibit A (19144 : Retroactively Approve and Adopt SEOPW CRA Financial Statements and Audit Report, FY 2025-26.) 9 Packet Pg. 141 3.6.a CITY OF MIAMI SOUTHEAST OVERTOWN PARK WEST COMMUNITY REDEVELOPMENT AGENCY (A COMPONENT UNIT OF THE CITY OF MIAMI, FLORIDA) BALANCE SHEET- GOVERNMENTAL FUNDS SEPTEMBER 30, 2025 ASSETS Cash Restricted cash Interest receivable Loan receivable Lease receivables Total assets Major funds Special revenue $ 44,615,474 376,632 163,106 24.749 Capital projects $ 150,000,000 Non -major governmental Debt service fund Total governmental funds $ 3,009,941 $ 47,625,415 150,000,000 376,632 163,106 214.020 238.769 $ 45,179,961 $ 150,000,000 $ - $ 3,223,961 $ 198,403,922 LIABILITIES Accounts payable and accrued liabilities $ 410,528 $ DEFERRED INFLOWS OF RESOURCES Leases 21,562 FUND BALANCES Non Spendable: Loan receivable Lease receivables Spendable: Restricted Committed Unassigned Total fund balances Total liabilities, deferred inflows of resources and fund balances 129,295 3,187 150,000,000 43,059,908 - 1,555,481 - 44, 747, 871 150 000 000 169,711 $ 580,239 205,317 1,283,394 1,565,539 2.848.933 226,879 129,295 3,187 150,000,000 44,343,302 3,121,020 197.596.804 $ 45,179,961 $ 150,000,000 $ - $ 3,223,961 $ 198,403,922 The accompanying notes are an integral part of the basic financial statements. Attachment: File # 19144 Exhibit A (19144 : Retroactively Approve and Adopt SEOPW CRA Financial Statements and Audit Report, FY 2025-26.) 10 Packet Pg. 142 3.6.a CITY OF MIAMI SOUTHEAST OVERTOWN PARK WEST COMMUNITY REDEVELOPMENT AGENCY (A COMPONENT UNIT OF THE CITY OF MIAMI, FLORIDA) RECONCILIATION OF THE BALANCE SHEET - GOVERNMENTAL FUNDS TO THE STATEMENT OF NET POSITION YEAR ENDED SEPTEMBER 30, 2025 Total fund balance - governmental funds $ 197,596,804 Amounts reported for governmental activities in the statement of net position consist of: Capital assets used in governmental activities are not financial resources and, therefore, are not reported in the funds. 32,919,076 Long-term liabilities are not due and payable in the current period and therefore are not reported in the funds: Lease liabilities (2,591,289) Bonds payable (172,751,955) Loan payable (1,708,864) Compensated absences (228,814) (177,280,922) Net position of governmental activities $ 53,234,958 The accompanying notes are an integral part of the basic financial statements. Attachment: File # 19144 Exhibit A (19144 : Retroactively Approve and Adopt SEOPW CRA Financial Statements and Audit Report, FY 2025-26.) 11 Packet Pg. 143 3.6.a CITY OF MIAMI SOUTHEAST OVERTOWN PARK WEST COMMUNITY REDEVELOPMENT AGENCY (A COMPONENT UNIT OF THE CITY OF MIAMI, FLORIDA) STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS YEAR ENDED SEPTEMBER 30, 2025 Major funds Non -major Total Special governmental governmental revenue Capital projects Debt service fund funds REVENUES Tax increment $ 52,653,923 $ - $ - $ - $ 52,653,923 Leases 83,122 91,252 174,374 Investment income 2,165,227 191,712 2,356,939 Other 4,663,900 - 1,346 477,645 5,142,891 Total revenues 59,566,172 1,346 760,609 60,328,127 EXPENDITURES Current: General government 3,976,462 3,976,462 Community redevelopment 48,350,782 2,258,125 50,608,907 Debt service: Principal 515,778 23,945,000 24,460,778 Interest and other charges 59,859 - 1,111,381 - 1,171,240 Other debt service costs - 2,198,074 2,198,074 Total expenditures 52,902,881 - 27,254,455 2,258,125 82,415,461 Excess (deficiency) of revenues over (under) expenditures 6,663,291 (27,253,109) (1,497,516) (22,087,334) OTHER FINANCING SOURCES (USES) Lease liability issued 559,829 - - 559,829 Issuance of debt - 150,000,000 11,910,000 - 161,910,000 Premium from issuance of debt - 10,841,955 10,841,955 Transfers in - - 4,501,154 - 4,501,154 Transfers out (4,501,154) - - (4,501,154) Total other financing sources (uses) (3,941,325) 150,000,000 27,253,109 - 173,311,784 Net change in fund balances 2,721,966 150,000,000 - (1,497,516) 151,224,450 Fund balances - beginning of year 42,025,905 - 4,346,449 46,372,354 Fund balances - end of year $ 44,747,871 $ 150,000000 $ - $ 2,848,933 $ 197,596,804 The accompanying notes are an integral part of the basic financial statements. Attachment: File # 19144 Exhibit A (19144 : Retroactively Approve and Adopt SEOPW CRA Financial Statements and Audit Report, FY 2025-26.) 12 Packet Pg. 144 3.6.a CITY OF MIAMI SOUTHEAST OVERTOWN PARK WEST COMMUNITY REDEVELOPMENT AGENCY (A COMPONENT UNIT OF THE CITY OF MIAMI, FLORIDA) RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES YEAR ENDED SEPTEMBER 30, 2025 Net change in fund balances - total governmental funds Amounts reported for governmental activities in the statement of activities are different because: The governmental funds reported capital outlays as expenditures, however, in the statement of activities, the cost of those assets is allocated over their estimated useful lives: Expenditures for capital assets Depreciation expense Loss on disposal of capital assets Items reported in the statement of activities do not require the use of current financial resources, and therefore, are not reported as expenditures in governmental funds: Increase in compensated absences The issuance of long-term debt provides current financial resources to governmental funds, while the repayment of principal of long-term debt consumes the current financial resources of governmental funds. Neither transaction has any effect on net position. Also, governmental funds report the effect of premiums, discounts and similar items when debt is first issued, whereas these amount are deferred and amortized on the statement of activities. Lease liability issued Issuance of bonds Premium on issuance of bonds Principal payments on lease liabilities Principal payments on long-term debt Amortization of bond premium Change in net position of governmental activities 1,292,435 (838,014) (266,047) $ 151,224,450 188,374 (40,401) (559,829) (161,910,000) (10,841,955) 515,778 23,945,000 1,443,621 (147,407,385) $ 3,965,038 The accompanying notes are an integral part of the basic financial statements. Attachment: File # 19144 Exhibit A (19144 : Retroactively Approve and Adopt SEOPW CRA Financial Statements and Audit Report, FY 2025-26.) 13 Packet Pg. 145 3.6.a CITY OF MIAMI SOUTHEAST OVERTOWN PARK WEST COMMUNITY REDEVELOPMENT AGENCY (A COMPONENT UNIT OF THE CITY OF MIAMI, FLORIDA) NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2025 1. Summary of Significant Accounting Policies This summary of the City of Miami Southeast Overtown Park West Community Redevelopment Agency (the Agency) significant accounting policies is presented to assist the reader in interpreting the basic financial statements. The policies are considered essential and should be read in conjunction with the basic financial statements. The accounting policies of the Agency conform to accounting principles generally accepted in the United States of America applicable to governmental units. This report, the accounting systems and classification of accounts conform to standards of the Governmental Accounting Standards Board (GASB), which is the accepted standard -setting body for establishing governmental accounting and financial reporting principles. The following is a summary of the more significant policies: A. Reporting Entity The Agency was established in 1983, by the City of Miami, Florida (the City) under the provisions of Section 163, Florida Statutes. The purpose of the Agency is to eliminate blight and slum conditions within the redevelopment area of the Agency pursuant to the redevelopment plans of the Agency for new residential and commercial activity in the Southeast Overtown area. The board of directors of the Agency is comprised of the five members of the City commission and are separate, distinct and independent from the governing body of the City. The City entered into Interlocal Cooperation Agreements, dated March 31, 1982, with Miami -Dade County, Florida (the County) and related ordinances of the City and County whereby tax increment revenue collected by the parties would be paid to the Agency and used in accordance with the approved budgets of the redevelopment plans and terms and conditions of the Interlocal Agreements for the benefit of the Agency. For financial reporting purposes, the Agency is a component unit of the City and is thus included in the City's comprehensive annual financial report as a blended component unit. B. Government -wide and Fund Financial Statements The government -wide financial statements (i.e., the statement of net position and the statement of activities) report information on all the nonfiduciary activities of the Agency. For the most part, the effect of interfund activity has been removed from these statements. Governmental activities, which normally are supported by taxes and intergovernmental revenues, are reported separately from business —type activities, which rely to a significant extent on fees and charges for support. The Agency does not have any business -type activities. The statement of activities demonstrates the degree to which the direct expenses of a given function or segment are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include 1) charges to customers or applicants who purchase, use, or directly benefit from goods, services, or privileges provided by a given function or segment and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Taxes and other items not properly included among program revenues are reported instead as general revenues Separate financial statements are provided for the governmental funds. Major individual governmental funds are reported as separate columns in the fund financial statements. Attachment: File # 19144 Exhibit A (19144 : Retroactively Approve and Adopt SEOPW CRA Financial Statements and Audit Report, FY 2025-26.) 14 Packet Pg. 146 3.6.a CITY OF MIAMI SOUTHEAST OVERTOWN PARK WEST COMMUNITY REDEVELOPMENT AGENCY (A COMPONENT UNIT OF THE CITY OF MIAMI, FLORIDA) NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2025 1. Summary of Significant Accounting Policies (continued) C. Measurement Focus, Basis of Accounting, and Financial Statement Presentation The government -wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Governmental fund financial statements are reported using the current financial resource measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the Agency considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures related to compensated absences and claims and judgments, are recorded only when payment is due. Tax increment revenue, intergovernmental revenues, parking fees, lease revenues, and interest associated with the current fiscal period are all considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. Only the portion due within the current fiscal period is considered to be susceptible to accrual as revenue of the current period. All other revenue items are considered to be measurable and available only when cash is received by the government. The Agency reports the following major governmental funds: ■ The Special Revenue Fund accounts for the proceeds of specific revenue sources (other than major capital projects) that are legally restricted for specified purposes. Specifically, this fund reports tax increment revenue collected from the City, County and The Children's Trust; • The Capital Projects Fund accounts for the proceeds from the Tax Increment Revenue Bonds, Series 2025A restricted for specific capital projects in accordance with the bond indenture; and ■ The Debt Service Fund accounts for the accumulation of resources for, and the payment of, bond principal and interest on the Tax Increment Revenue Bonds, Series 2014A, which was refunded. The Agency reports the following non -major governmental fund: • The Non-TIF Special Revenue Fund accounts for the proceeds of revenue sources that are not tax increment revenue and/or other revenue sources not legally restricted for specified purposes. D. Cash and Restricted Cash The Agency's cash and restricted cash includes demand deposits and pooled cash. The Agency participates in the City's pool on a dollar equivalent and daily transaction basis. Investment income (which includes interest and unrealized gains and losses) is distributed monthly based on a monthly average balance. Equity in pooled cash is reflected as Cash on the Agency's statement of net position and governmental funds balance sheet. Unspent proceeds from the Tax Increment Revenue Bonds, Series 2025A are considered restricted because their use is limited by the applicable bond indenture. E. Lease Receivables The Agency's lease receivables are measured at the present value of lease payments expected to be received during the lease term. A deferred inflow of resources is recorded for the leases. The deferred inflow of resources is recorded at the initiation of the lease in an amount equal to the initial recording of the lease receivable. The deferred inflow of resources is amortized on a straight-line basis over the term of the lease. Attachment: File # 19144 Exhibit A (19144 : Retroactively Approve and Adopt SEOPW CRA Financial Statements and Audit Report, FY 2025-26.) 15 Packet Pg. 147 3.6.a CITY OF MIAMI SOUTHEAST OVERTOWN PARK WEST COMMUNITY REDEVELOPMENT AGENCY (A COMPONENT UNIT OF THE CITY OF MIAMI, FLORIDA) NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2025 1. Summary of Significant Accounting Policies (continued) F. Capital Assets Capital assets, which include property, plant, and equipment are reported in the applicable governmental type activities column in the government -wide financial statements. Capital assets are defined by the Agency as assets with an initial, individual cost of more than $1,000 and an estimated useful life in excess of one year. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at acquisition value at the date of donation. The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend assets lives are not capitalized. Major outlays for capital assets and improvements are capitalized as projects are constructed. The Agency has recorded a right to use leased asset for its office facility. The right to use leased asset is initially measured at an amount equal to the initial measurement of the related lease liability plus any lease payments made prior to the lease term, less lease incentives, and plus ancillary charges necessary to place the lease into service, if any. The right to use leased asset is amortized on a straight-line basis over the life of the related lease. Capital assets of the Agency are depreciated using the straight-line method over the following estimated useful lives: Assets Years Furniture and equipment 5 Infrastructure 5-35 Right of use leased asset 3-10 H. Deferred Inflows of Resources The statement of financial position reports a separate section of deferred inflows of resources which represents an acquisition of net position that applies to a future period and is not recognized an inflow of resources or revenue until that time. The Agency has one type of resource, which occurs under a modified accrual basis of accounting in this category, leases, reported in the governmental fund balance sheet. The Special Revenue fund reports unavailable revenue from leases. These amounts are deferred and recognized as an inflow of revenue in the period that the amounts become available. I. Fund Balance / Net Position Fund balance Fund balances for governmental funds are reported in classifications that comprise a hierarchy based primarily on the extent to which the government is bound to honor constraints on the specific purposes for which amounts in those funds can be spent, as follows: • Non spendable fund balance - amounts that cannot be spent because they are either (a) not in spendable form or (b) legally or contractually required to be maintained intact. • Restricted fund balance - amounts that are restricted to specific purposes when constraints placed on the use of resources are either by (a) externally imposed by creditors (such as debt covenants), grantors, contributors, or laws or regulations of other governments; or (b) imposed by law through constitutional provisions or enabling legislations. • Committed fund balance - amounts that can only be used for specific purposes pursuant to constraints imposed by formal action of the government's highest level of decision -making authority. Attachment: File # 19144 Exhibit A (19144 : Retroactively Approve and Adopt SEOPW CRA Financial Statements and Audit Report, FY 2025-26.) 16 Packet Pg. 148 3.6.a CITY OF MIAMI SOUTHEAST OVERTOWN PARK WEST COMMUNITY REDEVELOPMENT AGENCY (A COMPONENT UNIT OF THE CITY OF MIAMI, FLORIDA) NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2025 1. Summary of Significant Accounting Policies (continued) I. Fund Balance / Net Position (continued) • Assigned fund balance - amounts that are constrained by the governments intent to be used for specific purposes, but are neither restricted nor committed. • Unassigned fund balance - amounts that have not been assigned to other funds and that have not been restricted, committed, or assigned to specific purpose within the general fund. When both restricted and unrestricted amounts are available for use, it is the Agency's practice to use restricted resources first. Additionally, the Agency would first use committed, then assigned, and lastly unassigned amounts of unrestricted fund balance. Net position The government -wide financial statements utilize a net position presentation. Net position can be categorized as net investment in capital assets, restricted, or unrestricted. The first category represents capital assets, less accumulated depreciation and net of any outstanding debt associated with the acquisition of capital assets. Restricted net position represents amounts that are restricted by requirement of debt indenture or enabling legislation. Unrestricted net position represents the net position of the Agency which are not restricted for any project or purpose. 3. Bond premiums, discounts and issuance costs In the government -wide financial statements, bond premiums and discounts are deferred and amortized over the life of the bonds using the straight-line method. Bonds payable are reported net of the applicable bond premium or discount. In the fund financial statements, governmental fund types recognize bond premiums and discounts, as well as bond issuance costs during the current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts are reported as other financing uses. Issuance costs are reported as community redevelopment expenditures in the fund financial statements and community redevelopment expense in the government -wide financial statements. K. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Although these estimates are based on management's knowledge of current events and actions it may undertake in the future, they may ultimately differ from actual results. 2. Cash and Restricted Cash At September 30, 2025, the Agency's cash and restricted cash consists of the following: Cash: Demand deposits $ 816,034 Pooled cash 46t809,381 $ 47,625,415 Restricted Cash: Demand deposits $ 150,000,000 Attachment: File # 19144 Exhibit A (19144 : Retroactively Approve and Adopt SEOPW CRA Financial Statements and Audit Report, FY 2025-26.) 17 Packet Pg. 149 3.6.a CITY OF MIAMI SOUTHEAST OVERTOWN PARK WEST COMMUNITY REDEVELOPMENT AGENCY (A COMPONENT UNIT OF THE CITY OF MIAMI, FLORIDA) NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2025 2. Cash (continued) Custodial Credit Risk is the risk that in the event of a bank failure, the Agency's deposits may not be returned to it. In addition to insurance provided by the Federal Deposit Insurance Corporation (FDIC), deposits are held in banking institutions approved by the State of Florida, State Treasurer to hold public funds. Under the Florida Statutes Chapter 280, "Florida Security for Public Deposits Act", the State Treasurer requires all qualified public depositories to deposit with the Treasurer or another banking institution eligible collateral. In the event of a failure of a qualified public depository, the remaining public depositories would be responsible for covering any resulting losses. 3. Loan Receivable On February 1, 2017, the Agency entered into a loan agreement with one of its Overtown Shopping Center tenants to fund the cost of construction of the leased property in the original amount of $400,000. Interest, at a fixed rate of 4%, and principal and interest payments are due monthly in the amount of $3,310, commencing on May 1, 2017 and maturing on March 1, 2030. As of September 30, 2025, future minimum principal payments to be received on the loan are as follows: 4. Lease Receivables Fiscal year Amount 2026 $ 33,811 2027 35,188 2028 36,622 2029 38,114 2030 19,371 $ 163,106 Lease receivables at September 30, 2025 consist of the following tenant leases at the Agency -owned Overtown Shopping Center: Tenant lease entered into on November 25, 2014, with the most recent amendment to the agreement on April 4, 2022. Remaining lease term as of October 1, 2021 was 65 months. Monthly rent payments due in accordance with the amended agreement is $577 per month, with 3% escalations every March 1st. The lease receivable is measured as the present value of the remaining minimum rent payments expected to be received during the lease term at a discount rate of 6%, which is the Agency's incremental borrowing rate. Tenant lease commencing on July 1, 2023 for a term of 36 months. Monthly rent payments due is $1,524 per month, with 4% escalations every July 1s'. The lease receivable is measured as the present value of the remaining minimum rent payments expected to be received during the lease term at a discount rate of 6%, which is the Agency's incremental borrowing rate. Amount $ 10,460 14,289 Attachment: File # 19144 Exhibit A (19144 : Retroactively Approve and Adopt SEOPW CRA Financial Statements and Audit Report, FY 2025-26.) 18 Packet Pg. 150 3.6.a CITY OF MIAMI SOUTHEAST OVERTOWN PARK WEST COMMUNITY REDEVELOPMENT AGENCY (A COMPONENT UNIT OF THE CITY OF MIAMI, FLORIDA) NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2025 4. Lease Receivables (continued) Tenant lease commencing on July 19, 2024 for a term of 41 months. Monthly rent payments due is $8,317 per month, with 2.5% escalations every July 19th. The lease receivable is measured as the present value of the minimum rent payments expected to be received during the lease term at a discount rate of 6%, which is the Agency's incremental borrowing rate. Total lease receivables Amount 214,020 $ 238,769 In fiscal year 2025, the Agency recognized a total of $174,374 of lease revenue and $19,141 of interest revenue under the leases. As of September 30, 2025, future minimum lease payments to be received on the leases are as follows: Fiscal Year(s) Principal Total 2026 $ 112,784 123,950 2027 100,687 105,450 2028 25,298 25,551 Interest 11,166 4,763 253 $ 238,769 16,182 254,951 5. Capital Assets Capital asset activity for the fiscal year ended September 30, 2025 was as follows: Capital assets, not being depreciated: Land Construction -in -progress Total capital assets, not being depreciated Capital assets, being depreciated: Furniture and equipment Infrastructure Right to use leased asset - office Total capital assets, being depreciated Less accumulated depreciation for: Furniture and equipment Infrastructure Right to use leased asset - office Total accumulated depreciation Total capital assets, being depreciated, net Total capital assets (net of accumulated depreciation) Balance 9/30/2024 Transfers / Transfers Additions Deletions Balance 9/30/2025 $ 19,911,165 3,077,484 22,988,649 717,618 717,618 - 19,911,165 3,795,102 - 22,706,267 224,691 11,023,787 3,382,789 14,631,267 14,988 559,830 574,818 395,769 395,769 239,679 10,628,018 3,942,619 14,810,316 170,666 3,864,624 853,925 4,889,215 9,742,052 $ 32,730,701 During fiscal year 2025, depreciation expense in Redevelopment. the amount 9,771 282,475 545,768 838,014 (263,196) 454,422 of $838,014 129,722 129,722 266,047 266,047 was charged 180,437 4,017,377 1,399,693 5,597,507 9,212,809 32,919,076 to Community Attachment: File # 19144 Exhibit A (19144 : Retroactively Approve and Adopt SEOPW CRA Financial Statements and Audit Report, FY 2025-26.) 19 Packet Pg. 151 3.6.a CITY OF MIAMI SOUTHEAST OVERTOWN PARK WEST COMMUNITY REDEVELOPMENT AGENCY (A COMPONENT UNIT OF THE CITY OF MIAMI, FLORIDA) NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2025 6. Long -Term Obligations The changes in the long-term obligations for the year ended September 30, 2025 are summarized as follows: Tax Increment Revenue Bonds, Series 2014A Plus deferred amounts for issuance premium, Series 2014A Tax Increment Revenue Bonds, Series 2025A Tax Increment Revenue Refunding Bonds, Series 2025E Pius deferred amounts for issuance premium, Series 2025A and 2025B Total bonds payable Gran Central Loan Total bonds and loan payable Lease liabilities Compensated absences Balance 9/30/2024 Additions 23,945,000 - 1,443,621 - - 142,235,000 19,675,000 10,841,955 Deletions (23,945,000) (1,443,621) Balance 9/30/2025 Amount due within one year - 142,235,000 2,735,000 19,675,000 3,395,000 10,841,955 25,388,621 172,751,955 (25,388,621) 172,751,955 6,130,000 1,708,864 - - 1,708,864 27,097,485 172,751,955 (25,388,621) 174,460,819 6,130,000 2,547,237 559,830 (515,778) 2,591,289 594,057 188,413 40,401 - 228,814 Total long-term obligations $ 29,833,135 173,352,186 (25,904,399) 177,280,922 6,724,057 Tax Increment Revenue and Tax Increment Revenue Refunding Bonds On August 28, 2025, the Agency issued Tax Increment Revenue Bonds, Series 2025A ("Series 2025A") in the principal amount of $142,235,000, and Tax Increment Revenue Refunding Bond, Series 20256 ("Series 2025E") in the principal amount of $19,675,000, maturing in 2042 and 2030, respectively, with interest rates ranging from 5% to 5.25% payable annually on March 1st These bonds are secured by a pledge of certain tax increment revenue amounts received from the City and County on the Southeast OvertownjPark West Community Redevelopment area. The proceeds of the Series 2025A bonds are to be used to pay all or part of the costs of the construction and/or rehabilitation of certain redevelopment projects undertaken pursuant to the Redevelopment Plan. The proceeds of the Series 2025B bonds were used to refund all of the Series 2014A-1 bonds and pay the costs of issuance related to the Series 20256 bonds. The annual debt service requirements for the bonds as of September 30, 2025, are as follows: Fiscal Year(s) 2026 2027 2028 2029 2030 2031-2035 2036-2040 2041-2042 Series 2025A Series 2025B Total Principal $ 2,735,000 2,945,000 3,100,000 3,265,000 2,540,000 44,075,000 56,595,000 26,980,000 $ 142,235,000 Interest Principal Interest Principal Interest 7,170,652 6,968,825 6,817,700 6,658,575 6,513,450 26, 960, 375 14,439,625 1,435,087 76,964,289 3,395,000 907,073 6,130,000 8,077,725 3,570,000 724,750 6,515,000 7,693,575 3,745,000 541,875 6,845,000 7,359,575 3,935,000 349,875 7,200,000 7,008,450 5,030,000 125,750 7,570,000 6,639,200 44,075,000 26,960,375 56, 595,000 14,439,625 26,980,000 1,435,087 19,675,000 2,649,323 161,910,000 79,613,612 Attachment: File # 19144 Exhibit A (19144 : Retroactively Approve and Adopt SEOPW CRA Financial Statements and Audit Report, FY 2025-26.) 20 Packet Pg. 152 3.6.a CITY OF MIAMI SOUTHEAST OVERTOWN PARK WEST COMMUNITY REDEVELOPMENT AGENCY (A COMPONENT UNIT OF THE CITY OF MIAMI, FLORIDA) NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2025 6. Long -Term Obligations (continued) Gran Central Loan On January 20, 1988, the City entered into a loan agreement with the Gran Central Corporation (GCC) to finance 50% of the cost to acquire a parcel of property within the SEOPW CRA Area and relocate and widen Northwest First Avenue between Northwest First Street and Northwest Eighth Street. The loan, in the amount of $1,708,864, does not bear interest and is payable from tax increment funds received from the City and County within a designated area defined in the loan documents on a junior and subordinate basis to the lien granted to holders of the $11,500,000 Community Redevelopment Revenue Bonds, Series 1990. GCC was to be fully repaid by the year 2008 with annual payments to be made to the extent funds are generated by tax increment revenue within the designated area, as defined in the loan document, is available after required payments for the Series 1990 Bonds debt service and any requirement of the reserve fund or reserve product, as defined in the Series 1990 Bond indenture. GCC has subsequently been acquired by another company (referred to as the "predecessor company"), which has taken over the loan. Although the loan was to be fully repaid by 2008, in accordance with the loan agreement, management believes that since no tax increment funds have been generated within the designated area, as defined in the loan documents, no payment on the loan is required, and will only become due when any such tax increment funds have been generated within the designated area. Management does not believe that any such tax increment funds will ever be generated within the designated area. Lease liabilities The Agency has the following operating leases as of September 30, 2025: • On August 18, 2022, the Agency entered into an agreement to lease an office facility, expiring in August 2031. The lease was recorded at the present value of the remaining future minimum lease payments. The agreement requires 10 annual payments of $280,000 per year. The lease liability is measured at a discount rate of 6%. • On August 1, 2024, the Agency entered into an agreement to lease an office facility, expiring in August 2027. The lease was recorded at the present value of the remaining future minimum lease payments. The agreement requires 36 monthly payments of $19,460, with 3% escalations every August 15t. The lease liability is measured at a discount rate of 6%. • On February 11, 2025, the Agency entered into an agreement to sublease retail space, expiring in February 2035. The lease was recorded at the present value of the remaining future minimum lease payments. The agreement requires 120.5 monthly payments of $1,400. The lease liability is measured at a discount rate of 6%. • On February 14, 2025, the Agency entered into an agreement to lease retail/office facilities, expiring in February 2035. The lease was recorded at the present value of the remaining future minimum lease payments. The agreement requires 120.5 monthly payments of $1,667, with 5% escalations every January 15t. The lease liability is measured at a discount rate of 6%. • On April 22, 2025, the Agency entered into an agreement to lease a multipurpose space, expiring in March 2028. The lease was recorded at the present value of the remaining future minimum lease payments. The agreement requires 36 monthly payments of $7,560. The lease liability is measured at a discount rate of 6%. Attachment: File # 19144 Exhibit A (19144 : Retroactively Approve and Adopt SEOPW CRA Financial Statements and Audit Report, FY 2025-26.) 21 Packet Pg. 153 3.6.a CITY OF MIAMI SOUTHEAST OVERTOWN PARK WEST COMMUNITY REDEVELOPMENT AGENCY (A COMPONENT UNIT OF THE CITY OF MIAMI, FLORIDA) NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2025 6. Long -Term Obligations (continued) The future minimum lease obligations and the net present value of the minimum lease payments of the lease agreements as of September 30, 2025, are as follows: Fiscal Year(s) Principal Interest Total 2026 $ 594,057 55,941 649,998 2027 581,089 34,581 615,670 2028 351,110 21,395 372,505 2029 303,304 17,421 320,725 2030 307,606 15,315 321,921 2031-2035 454,123 26,691 480,814 7. Fund Balances $ 2,591,289 170,344 2,761,633 At September 30, 2025, the Agency reported the following governmental fund balances: • Non spendable fund balance — these amounts represent the long-term portion of the loan receivable, as well as the difference between the lease receivables and deferred inflows of resources related to those leases, both of which cannot be spent because those amounts are not in spendable form. • Restricted fund balance — these amounts are restricted for specific capital projects in accordance with the tax increment revenue bonds, Series 2025A and tax increment revenue refunding bonds, Series 2025B. • Committed fund balance - these amounts can only be used for specific purposes pursuant to constraints imposed by the Board of the Agency. The items cannot be removed unless the Board removes it in the same manner it was implemented. ■ Unassigned fund balance - amounts that have not been assigned to other funds and that have not been restricted, committed, or assigned to specific purpose within the general fund. Below is a table of fund balance categories and classifications, by fund, at September 30, 2025: Non -major Special Capital Governmental Revenue Projects Fund Non Spendable: Loan receivable $ 129,295 Lease receivables 3,187 Spendable: Restricted - 150,000,000 Committed to community redevelopment 43,059,908 - 1,283,394 Unassigned 1,555,481 - 1,565,539 Total $ 44,747,871 150,000,000 2,848,933 Attachment: File # 19144 Exhibit A (19144 : Retroactively Approve and Adopt SEOPW CRA Financial Statements and Audit Report, FY 2025-26.) 22 Packet Pg. 154 3.6.a CITY OF MIAMI SOUTHEAST OVERTOWN PARK WEST COMMUNITY REDEVELOPMENT AGENCY (A COMPONENT UNIT OF THE CITY OF MIAMI, FLORIDA) NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2025 8. Tax Increment Revenue The Agency's primary source of revenue is tax -increment funds. This revenue is computed by applying the operating tax rate for the City and the County, multiplied by the increased value of property located within the boundaries of the redevelopment areas of the Agency, over the base property value, minus 5%. Both the City and the County are required to fund this amount annually without regard to tax collections or other obligations. In fiscal year 2007, the City, County and The Children's Trust (the Trust) entered into an Interlocal Agreement with the Agency, whereby the Agency would receive from the Trust, on an annual basis, tax increment revenues derived from the imposition of a half -mil tax levied by the Trust against real property located within the redevelopment district (referred to as Trust revenues). The Agency agreed to use the Trust revenues for debt service on, and other obligations relating to, existing debts of the Agency only after all other available tax increment revenues have been exhausted for such purpose, and to remit to the Trust on the last day of the Agency's fiscal year, all of the Trust revenues that are not needed for debt service on, or other obligations relating to, existing debts of the Agency. During 2025, the Agency remitted a total of $2,250,155 to the Trust. In fiscal year 2008, the Agency entered into an interlocal agreement with the City, the County and the City of Miami Omni Community Redevelopment Agency, whereby the Agency may not, for fiscal years 2017 through 2030, budget in excess of 50% of the tax increment revenues collected from certain projects described in that interlocal agreement. The Agency must return 45°I0 of tax increment revenues collected from such projects to the taxing authorities which paid such revenues to the Agency. However, for fiscal year 2025 and beyond, the City Commission, pursuant to resolution R-24-0109, authorized the City Manager to disburse to the Agency the balance returned to the City for the development of affordable housing and related infrastructure at or below sixty percent (60%) of the area median income. During fiscal year 2025, the amount returned to the County totaled $4,392,728. Also during fiscal year 2025, the amount due to the City but kept by the Agency pursuant to resolution R-24-0109 mentioned above, totaled $6,853,577. 9. Interfund Transfers During 2025, The Agency made a transfer of $4,501,154 from the special revenue fund to the debt service fund to cover debt service expenditures. 10. Special Benefit Plans (a) 401(a) Deferred Compensation Plan All employees, including executives and general employees, of the Agency are eligible, after one year of service, to join the ICMA Retirement Trust 401(a) Deferred Compensation Plan (the Plan). The Plan agreement requires the Agency to contribute 15% of each executive employee's earnable compensation, and 5% of each general employee's earnable compensation. Contributions by executive and general employees are not required. Participants may withdraw funds at retirement or upon separation based on a variety of payout options. The following information relates to the Agency's participation in the 401(a) Deferred Compensation Plan: Executives General Employees Employees Current year's payroll Current year's employer contributions $ 965,995 1,154,873 241,499 144,534 Attachment: File # 19144 Exhibit A (19144 : Retroactively Approve and Adopt SEOPW CRA Financial Statements and Audit Report, FY 2025-26.) 23 Packet Pg. 155 3.6.a CITY OF MIAMI SOUTHEAST OVERTOWN PARK WEST COMMUNITY REDEVELOPMENT AGENCY (A COMPONENT UNIT OF THE CITY OF MIAMI, FLORIDA) NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2025 10. Special Benefit Plans (continued) (b) 457(b) Deferred Compensation flan All employees, including executives and general employees, of the Agency are eligible to join the United States Conference of Mayors 457(b) Deferred Compensation Plan (the Plan). The Plan agreement requires the Agency to contribute 2-5% of each executive employee's earnable compensation, and is not required to contribute to general employee participants. Contributions by executive and general employees are not required. Participants may withdraw funds at retirement or upon separation based on a variety of payout options. The following information relates to the Agency's participation in the 457(b) Deferred Compensation Plan: Executives Employees Current year's payroll $ 965,995 Current year's employer contributions 21,154 11. Risk Management The Agency is exposed to various risks of losses related to torts; theft or damage to, and destruction of assets; errors and omissions; injuries to employees; and natural disasters. The Agency purchases commercial insurance for the risks of loss to which it is exposed. Policy limits and deductibles are reviewed by management and established at amounts to provide reasonable protection from significant financial loss. There were no losses or claims incurred during the current fiscal year, and there were no settlements that exceeded insurance coverage during the past three fiscal years. 12.Commitment and Contingencies (a)The Agency is contractually obligated for approximately $153.6 million at September 30, 2025 for construction projects, of which $132.5 million of the projects will be funded with the bonds that were issued in 2025. (b)The Agency is a defendant in several legal actions. The outcome of these actions cannot be determined at this time. Management believes that any liability from these actions will not have a material effect on the Agency's financial condition. (c) In fiscal year 2010, the Agency entered into a grant agreement with the City, with two subsequent amendments during fiscal year 2012, in an amount not to exceed $8 million, plus interest of approximately $6.1 million, for the renovation of Gibson Park. Payments on the grant will be made through fiscal year 2030, and are pledged by tax increment funds. (d) In fiscal year 2015, the Agency entered into an economic incentive agreement with certain developers in connection with the development of the Miami World Center mixed -use project. The economic incentive agreement calls for payment to the master developer of a certain percentage of tax increment revenues generated from the project during the time period from completion of the first building. During fiscal year 2025, the Agency paid $5.2 million. Attachment: File # 19144 Exhibit A (19144 : Retroactively Approve and Adopt SEOPW CRA Financial Statements and Audit Report, FY 2025-26.) 24 Packet Pg. 156 3.6.a CITY OF MIAMI SOUTHEAST OVERTOWN PARK WEST COMMUNITY REDEVELOPMENT AGENCY (A COMPONENT UNIT OF THE CITY OF MIAMI, FLORIDA) NOTES TO BASIC FINANCIAL STATEMENTS SEPTEMBER 30, 2025 12. Commitment and Contingencies (continued) (e) In fiscal year 2019, the Agency entered into an economic incentive agreement with Downtown Retail Associates, LLC for the development of Block 55. This project will be a developed as a mixed - used development of not less than 250,000 square feet of retail, office, restaurant, and entertainment uses, and not less than 500 residential units. As a development incentive, the Agency shall pay to Developer an incentive payment equal to up to 70% of the incremental TIF generated from this specific project. (f) In fiscal year 2021, the Agency entered into an economic incentive agreement with Grand Central Miami Holdings, LLC for the development of Block 46. This project contains one hundred (100) affordable rental units. As a development incentive, the Agency shall pay to Developer an incentive payment equal to up to 65% of the incremental TIF generated from this specific project. During fiscal year 2025, the Agency paid $327,236 (g) In fiscal year 2024, the Agency entered into a Housing Subsidy Agreement with Block 55 Residential L.P. to subsidize the affordability of 289 housing units for individuals Sixty -years of age and older. The financial commitment for this agreement is $1.6 million per year for a five-year term, not to exceed $8 million, and is subject to the availability of funding. 13. New Pronouncements Issued The following pronouncements were recently issued, but were not yet effective for the Agency's fiscal year ended September 30, 2025. Management will evaluate the effect that the following pronouncements will have on its financial statements as they become effective: • GASB Statement No. 103, Financial Reporting Model Improvements • GASB Statement No. 104, Disclosure of Certain Capital Assets 14. Subsequent events The Agency evaluated subsequent events through February 3, 2026, the date the financial statements were available to be issued, and does not believe that there are any such events or transactions that require disclosure. Attachment: File # 19144 Exhibit A (19144 : Retroactively Approve and Adopt SEOPW CRA Financial Statements and Audit Report, FY 2025-26.) 25 Packet Pg. 157 3.6.a CITY OF MIAMI SOUTHEAST OVERTOWN PARK WEST COMMUNITY REDEVELOPMENT AGENCY (A COMPONENT UNIT OF THE CITY OF MIAMI, FLORIDA) BUDGETARY COMPARISON SCHEDULE - SPECIAL REVENUE FUND (REQUIRED SUPPLEMENTARY INFORMATION - UNAUDITED) YEAR ENDED SEPTEMBER 30, 2025 REVENUES Tax increment revenues Leases Investment income Other Total revenues EXPENDITURES Current: General government Community redevelopment Debt service: Principal Interest and other charges Total expenditures Excess (deficiency) of revenues over (under) expenditures OTHER FINANCING SOURCES (USES) Lease liability issued Transfers out Net carryover fund balance Total other financing sources (uses) Net change in fund balance Fund balances - beginning of year Fund balances - end of year Budgeted amounts Original Final $ 52,421,145 52,421,145 5,216,607 86,066, 541 $ Actual 52,421,145 $ 52,421,145 5,216,607 86,066, 541 91,283,148 91,283,148 (38,862,003) (38,862,003) (4,502,500) (4,502,500) 43,364,503 43,364,503 38,862,003 38,862,003 Variance with final budget - positive (negative) 52,653,923 $ 232,778 83,122 83,122 2,165,227 2,165,227 4,663,900 4,663,900 59,566,172 7,145,027 3,976,462 1,240,145 48,350,782 37,715,759 515,778 (515,778) 59,859 (59,859) 52,902, 881 38, 380,267 6,663,291 45, 525,294 559,829 (4,501,154) (3,941,325) 2,721,966 42,025,905 $ 44,747,871 The note to the required supplementary information is an integral part of this schedule. 559,829 1,346 (43,364,503) (42,803,328) $ 2,721,966 Attachment: File # 19144 Exhibit A (19144 : Retroactively Approve and Adopt SEOPW CRA Financial Statements and Audit Report, FY 2025-26.) 26 Packet Pg. 158 3.6.a CITY OF MIAMI SOUTHEAST OVERTOWN PARK WEST COMMUNITY REDEVELOPMENT AGENCY (A COMPONENT UNIT OF THE CITY OF MIAMI, FLORIDA) NOTES TO SUPPLEMENTARY INFORMATION SEPTEMBER 30, 2025 1. Budgetary Policy The Agency adopts an annual budget for the operations of the Special Revenue Fund in accordance with generally accepted accounting principles. The budget is adopted on a modified accrual basis of accounting, consistent with U.S. generally accepted accounting principles. Budgetary control is maintained at the fund level. Attachment: File # 19144 Exhibit A (19144 : Retroactively Approve and Adopt SEOPW CRA Financial Statements and Audit Report, FY 2025-26.) 27 Packet Pg. 159 3.6.a iCll Tviobc, Certified [nblic iliccoinvitavit Coosmi oo 13453 Sw 105"' Ava, Florida 33174) 1 T. (305) 72.o,•250i REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS The Board of Directors City of Miami Southeast Overtown Park West Community Redevelopment Agency: We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the governmental activities and the major fund of the City of Miami Southeast Overtown Park West Community Redevelopment Agency (the Agency) as of and for the year ended September 30, 2025, and the related notes to the financial statements, which collectively comprise the Agency's basic financial statements, and have issued our report thereon dated February 3, 2026. Report on Internal Control Over Financial Reporting In planning and performing our audit of the financial statements, we considered the Agency's internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the Agency's internal control. Accordingly, we do not express an opinion on the effectiveness of the Agency's internal control. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity's financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance. Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or, significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses and significant deficiencies may exist that were not identified. Report on Compliance and Other Matters As part of obtaining reasonable assurance about whether the Agency's financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. Attachment: File # 19144 Exhibit A (19144 : Retroactively Approve and Adopt SEOPW CRA Financial Statements and Audit Report, FY 2025-26.) 28 Packet Pg. 160 3.6.a Purpose of this Report The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the entity's internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity's internal control and compliance. Accordingly, this communication is not suitable for any other purpose. PPar�: pJ Miami, Florida February 3, 2026 Attachment: File # 19144 Exhibit A (19144 : Retroactively Approve and Adopt SEOPW CRA Financial Statements and Audit Report, FY 2025-26.) 29 Packet Pg. 161 3.6.a Certified itnblic Coo5c41'f"[.1o'1" 13453 Sw 105'" Ava, Miami,'Florida 33174, ! T. (305) 7Z0 Z50Z MANAGEMENT LETTER IN ACCORDANCE WITH THE RULES OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA The Board of Directors City of Miami Southeast Overtown Park West Community Redevelopment Agency: Report on the Financial Statements We have audited the financial statements of the City of Miami Southeast Overtown Park West Community Redevelopment Agency (the Agency), a Component Unit of the City of Miami, Florida, as of and for the fiscal year ended September 30, 2025, and have issued our report dated February 3, 2026. Auditor's Responsibility We conducted our audit in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and Chapter 10.550, Rules of the Florida Auditor General. Other Report Requirements We have issued our Independent Auditors' Reports on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of the Financial Statements Performed in Accordance with Government Auditing Standards. Disclosures in that report, which is dated February 3, 2026, should be considered in conjunction with this management letter. Prior Audit Findings Section 10.554(1)(i)1., Rules of the Auditor General, requires that we determine whether or not corrective actions have been taken to address findings and recommendations made in the preceding annual financial audit report. Corrective action has been taken to address the finding and recommendation that was reported in the preceding annual financial audit report. Official Title and Legal Authority Section 10.554(1)(1)4., Rules of the Auditor General, requires that the name or official title and legal authority for the primary government and each component unit of the reporting entity be disclosed in this management letter, unless disclosed in the notes to the financial statements. Such disclosures are made in note 1 to the Agency's financial statements. Financial Condition and Management Section 10.554(1)(i)5.a. and 10.556(7), Rules of the Auditor General, requires that we report the results of our determination as to whether or not the Agency has met one or more of the conditions described in Section 218.503(1), Florida Statutes, and identification of the specific condition(s) met. In connection with our audit, we determined that the Agency did not meet any of the conditions described in Section 218.503(1), Florida Statutes. Pursuant to Sections 10.554(1)(i)5.c. and 10.556(8), Rules of the Auditor General, we applied financial condition assessment procedures as of September 30, 2025. It is management's responsibility to monitor the Agency's financial condition, and our financial condition assessment was based in part on representations made by management and the review of financial information provided by same. Attachment: File # 19144 Exhibit A (19144 : Retroactively Approve and Adopt SEOPW CRA Financial Statements and Audit Report, FY 2025-26.) 30 Packet Pg. 162 3.6.a Section 10.554(1)(i)2., Rules of the Auditor General, requires that we communicate any recommendations to improve Financial management. In connection with our audit, we did not have any such recom mendations. Property Assessed Clean Energy (PACE) Programs As required by Section 10.554(1)(i)6.a., Rules of the Auditor General, a statement is required as to whether a PACE program authorized pursuant to Section 163.081 or Section 163.082, Florida Statutes, did or did not operate within the Agency's geographical boundaries during the fiscal year under audit. The Agency did not have a PACE program operate within its geographical boundaries during the fiscal year under audit. Specific Information As required by Section 218.39(3)(a), Florida Statutes, and Section 10.554(1)(i)6, Rules of the Auditor General, the Agency reported: a. A total of 20 employees compensated in the last pay period of the Agency's fiscal year. b. No independent contractors to whom nonemployee compensation was paid in the last month of the Agency's fiscal year. c. Compensation earned by or awarded to employees, whether paid or accrued, regardless of contingency totaled $2,159,994 for the fiscal year. d. No compensation earned by or awarded to nonemployee independent contractors, whether paid or accrued, regardless of contingency for the fiscal year. e. The following is a list of construction projects with a total cost of at least $65,000 approved by the Agency that is scheduled to begin on or after October 1 of the fiscal year being reported: Project Name Project Expenditures for FYE 9/30/2025 Quadplex Affordable Housing Project at 244 NW 16t" St. $ 481,480 f. A budget variance based on the budget adopted under Section 189.016(4), Florida Statutes, before the beginning of the fiscal year being reported if the Agency amends a final adopted budget under Section 189.016(6), Florida Statutes — is not applicable, as the Agency did not amend a final adopted budget under Section 189.016(6), Florida Statutes. Additional Matters Section 10.554(1)(i)3., Rules of the Auditor General, requires that we address noncompliance with provisions of contracts or grant agreements, or abuse, that have occurred, or are likely to have occurred, that have an effect on the financial statements that is less than material but which warrants the attention of those charged with governance. In connection with our audit, we did not have any such findings. Purpose of this Letter Our management letter is intended solely for the information and use of the Florida Legislative Auditing Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, and the Board of Directors and management of the Agency, and is not intended to be and should not be used by anyone other than these specified parties. PitieutromienR6 Miami, Florida February 3, 2026 Attachment: File # 19144 Exhibit A (19144 : Retroactively Approve and Adopt SEOPW CRA Financial Statements and Audit Report, FY 2025-26.) 31 Packet Pg. 163 3.6.a Ir X l C l Teulooc, C rhfiieci i'mblic Accomvi tit &, C.UVisvd{'ami-- 13453 SW 105"' Ave, Miami, Florida 3317(p i T. (305) iw-z5o2.- INDEPENDENT ACCOUNTANT'S REPORT ON COMPLIANCE WITH SECTIONS 163.387(6) AND (7), FLORIDA STATUTES The Board of Directors City of Miami Southeast Overtown Park West Community Redevelopment Agency: We have examined the City of Miami Southeast Overtown Park West Community Redevelopment Agency (the Agency), a Component Unit of the City of Miami, Florida compliance with Sections 163.387(6) and (7), Florida Statutes regarding the redevelopment trust fund during the year ended September 30, 2025. Management is responsible for the Agency's compliance with those requirements. Our responsibility is to express an opinion on the Agency's compliance based on our examination. Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Agency's compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Agency's compliance with specified requirements. In our opinion, the Agency complied, in all material respects, with the aforementioned requirements for the year ended September 30, 2025. This report is intended solely for the information and use of the Florida Legislative Auditing Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, and the Board of Directors and management of the Agency, and is not intended to be and should not be used by anyone other than these specified parties. i af. P..n. Miami, Florida February 3, 2026 Attachment: File # 19144 Exhibit A (19144 : Retroactively Approve and Adopt SEOPW CRA Financial Statements and Audit Report, FY 2025-26.) 32 Packet Pg. 164 3.6.b + x Rcl1ie T�tt'l�bc, 1P,A, Certified'cil'lic Accomit&vit & Covis 4ftaot Southeast Overtown Park West Community Redevelopment Agency 2025 Audit Results and Required Communications Report to Those Charged with Governance Packet Pg. 165 3.6.b Certified ?Ublic f ccomtavit L Covlst4ftavit 13453 SW 105* Ave, Miami, Florida 33176 / T. (305) 320-2502 February 3, 2026 Management and Board Members City of Miami Southeast Overtown Park West Community Redevelopment Agency Miami, Florida Dear Management and Board Members: We are pleased to present the results of our audit of the basic financial statements of the City of Miami Southeast Overtown Park West Community Redevelopment Agency (the "Agency") for the year ended September 30, 2025. This report summarizes our audits, the scope of our engagement, and key observations and findings from our audit procedures for the year ended September 30, 2025. This report also contains the communications required by our professional standards and by Government Auditing Standards. The audit was designed to express an opinion on the Agency's 2054 basic financial statements. In accordance with professional standards, we obtained a sufficient understanding of internal control to plan the audits and to determine the nature, timing, and extent of tests to be performed. However, we were not engaged to and we did not perform an audit of internal control over financial reporting. This report is intended solely for the information and use of those charged with governance, and is not intended to be and should not be used by anyone other than these specified parties. We appreciate this opportunity to meet with you to discuss the contents of this report, and to answer any questions that you may have about this report or any other audit -related matters. If you have any questions, please contact Richie C. Tandoc, Partner in charge of the audit, at (305) 720-2502. Very truly yours, Packet Pg. 166 3.6.b Southeast Overtown Park West Community Redevelopment Agency 2025 Audit Results and Required Communications Generally Accepted Auditing Standards and Government Auditing Standards require the auditor to communicate certain matters to those charged with governance that may assist in overseeing management's financial reporting and disclosure process. Below is a summary of these required communications, and our response to each, as they apply to the Agency as of and for the fiscal year ended September 30 2025. Required Communication Response Auditors' Responsibilities Under Generally Accepted Auditing Standards (GAAS) and Government Auditing Standards (GAS) Our responsibility is to express an opinion on the Agency's financial statements based on our audit conducted in accordance with auditing standards generally accepted in the United States and Government Auditing Standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. In addition, we are required to report on the Agency's internal control over financial reporting and on compliance and other matters. However, providing assurance on the internal control or compliance with certain provisions of laws, regulations, contracts, and agreements was not an objective of our audit, and accordingly, we do not express such an opinion. We have issued an unmodified opinion (i.e. clean opinion) on the Agency's basic financial statements for the year ended September 30, 2025. We have also issued our report on the Agency's internal control over financial reporting and on compliance and other matters for the year ended September 30, 2025. We noted no material weaknesses or material noncompliance issues. Both reports were dated February 3, 2026. Significant Accounting Policies Initial selection of and changes in significant accounting The Agency's significant accounting policies are described in Note 1 to the financial statements. Accounting principles selected by management are consistent with those prescribed by government accounting standards, and the Agency's financial statements and related disclosures are clearly presented in a complete manner. policies or their application and new accounting and reporting standards during the year must be reported. In addition, we must discuss our judgments about the quality, not just the acceptability, of the accounting policies as applied in the Agency's financial reporting. Accounting Estimates The preparation of the financial statements requires the use of accounting estimates. We are required to inform those charged with governance of such accounting estimates and about our conclusions regarding the reasonableness of those estimates. For fiscal year ended September 30, 2025, management's judgment was called upon to establish the useful lives of capital assets. We have determined that such estimates are reasonable. Methods of Accounting for Significant Unusual Transactions and for Controversial or Emerging Areas We are required to inform those charged with governance about the methods used to account for significant unusual transactions and the effects of significant accounting policies in controversial or emerging areas for which there is a lack of authoritative guidance or consensus. We did not identify any significant unusual transactions by the Agency or any significant accounting policies used by the Agency related to controversial or emerging areas for which there is a lack of authoritative guidance. Significant and/or Unadjusted Audit Adjustments We are required to inform those charged with governance about auditor adjustments arising from the audit (whether recorded or not) that could, in our judgment, have a significant effect, individually or in the aggregate, on the Agency's financial statements. We had no significant or unadjusted audit adjustment during the current year's audit. All adjustments made during the audit were proposed by the Finance Officer, and approved by us. Packet Pg. 167 3.6.b Southeast Overtown Park West Community Redevelopment Agency 2025 Audit Results and Required Communications Required Communication Response Fraud and Illegal Acts We are required to inform those charged with governance about any and all fraud and illegal acts involving senior management and any fraud and illegal acts (whether caused by management or other employees) that cause a material misstatement of financial resources. We are not aware of any fraud or illegal acts that occurred during the fiscal year involving senior management, or any fraud or illegal acts involving any employee that would cause a material misstatement of the financial statements. Disagreements or Difficulties with Management We are required to inform those charged with governance about any significant disagreements or difficulties encountered with management. We did not encounter any significant disagreements or difficulties with management during the course of the audit. Major Issues Discussed with Management Prior to Retention We are required to inform those charged with governance about any major issues discussed with management prior to retaining us as auditors. We did not discuss any major issues with management prior to retaining us as your auditors. Independence We are required to communicate with those charged with governance, at least annually, the following: 1. Disclose, in writing, all relationships between us and the Agency and its related entities that, in our professional judgment, may reasonably be thought to impede our independence; 2. Confirm in writing that, in our professional judgment, we are independent of the Agency in accordance with generally accepted auditing standards and Government Auditing Standards; and 3. Disclose any non -audit services performed for the Agency. 1. There are no relationships between us and the Agency and its related entities that, in our professional judgment, may reasonably be thought to impede our independence. 2. With regards to our audit of the Agency as of September 30, 2025, we are independent with respect to the Agency, in accordance with Rule 101 of the American Institute of Certified Public Accountants' Code of Professional Conduct, its interpretations and rulings, and Government Auditing Standards. 3. We have not performed any non -audit services for the Agency during the fiscal year ended September 30, 2025, or thereafter, other than financial statements preparation assistance. Management Letter We are required to issue a management letter responding to certain requirements in accordance with the Rules of the Auditor General of the State of Florida. We have issued a management letter in accordance with the Rules of the Auditor General of the State of Florida, dated February 3, 2026. We did not report any significant deficiencies or material weaknesses therein. Management Representations We are required to communicate with those charged with governance about representations requested from management. We requested certain representations from management that are included in the management representation letter dated February 3, 2026. 2 Packet Pg. 168