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Home My WebLink AboutCRA-R-26-0011 Master Report/jt Omni CRA OMNI Community Redevelopment Agency Master Report Enactment Number: CRA-R-26-0011 OMNI CRA 1401 N. Miami Avenue Miami, FL 33136 http://miamicra.com File Number: 19003 Revision: A File Type: OMNI CRA Resolution File Name: 4/5ths Bid Waiver Grant Funding - A&E District Holding Company, LLC Requesting Dept: OMNI Community Redevelopment Agency Status: ADOPTED Controlling Body: OMNI Community Redevelopment Agency Introduced: 3/3/2026 Final Action Date: 3/12/2026 Title: A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY ("CRA"), WITH ATTACHMENT(S), BY A FOUR -FIFTHS (4/STHS) AFFIRMATIVE VOTE, AFTER AN ADVERTISED PUBLIC HEARING, RATIFYING, APPROVING, AND CONFIRMING THE EXECUTIVE DIRECTOR'S RECOMMENDATION AND FINDING, ATTACHED AND INCORPORATED AS EXHIBIT "A," THAT COMPETITIVE NEGOTIATION METHODS AND PROCEDURES ARE NOT PRACTICABLE OR ADVANTAGEOUS TO THE CRA PURSUANT TO SECTIONS 18-85 AND 18-86 OF THE CODE OF THE CITY OF MIAMI, FLORIDA, AS AMENDED, AS ADOPTED BY THE CRA; WAIVING THE REQUIREMENTS FOR COMPETITIVE SEALED BIDDING AS NOT BEING PRACTICABLE OR ADVANTAGEOUS TO THE CRA; AUTHORIZING THE ALLOCATION OF FUNDS IN AN AMOUNT NOT TO EXCEED TWO MILLION FIVE HUNDRED THOUSAND DOLLARS ($2,500,000.00) TO A&E DISTRICT HOLDING COMPANY, LLC, CONTINGENT UPON THE ISSUANCE OF THE CRA'S TAX INCREMENT REVENUE BONDS, SERIES 2026, TO UNDERWRITE COSTS ASSOCIATED WITH THE CONSTRUCTION AND DEVELOPMENT OF A MIXED - INCOME AFFORDABLE HOUSING PROJECT LOCATED AT NORTH EAST MIAMI PLACE, NORTH EAST 15TH STREET, AND NORTH EAST 1ST AVENUE, MIAMI FLORIDA, IDENTIFIED BY FOLIO NUMBERS 01-3136-005-0940, 01-3136-005-0970, 01-3136-005-0980, 01-3136-005-0950, 01-3136-005-0960, AND 01-3136-005-0990 ("PROJECT") CONSISTING OF FIVE HUNDRED SEVENTY SIX (576) UNITS, INCLUDING 10 UNITS AT OR BELOW 100% OF THE AREA MEDIAN INCOME ("AMI"), 221 UNITS AT OR BELOW 120% AMI, AND 345 RESIDENTIAL UNITS AT MARKET RATE; FURTHER AUTHORIZING THE EXECUTIVE DIRECTOR TO NEGOTIATE AND EXECUTE A FORGIVABLE LOAN AGREEMENT AND SUPPORTING DOCUMENTS, INCLUDING ANY AND ALL OTHER DOCUMENTS NECESSARY FOR THE PURPOSE STATED HEREIN, ALL IN FORMS ACCEPTABLE TO THE GENERAL COUNSEL; ALL BEING SUBJECT TO THE RENTS BEING RESTRICTED FOR 30 YEARS AS MORE PARTICULARLY DETAILED IN A RESTRICTIVE COVENANT THAT IS TO BE RECORDED IN THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA. Notes: Links: Attachments: 19003 Exhibit A (PDF) 19003 Backup (PDF) 19003 Notice to the Public (PDF) City of Miami Page 1 of 2 Printed on: 4/6/2026 OMNI Community Redevelopment Agency Omni CRA History of Legislative File: Master Report Enactment Number: CRA-R-26-0011 OMNI CRA 1401 N. Miami Avenue Miami, FL 33136 http://miamicra.com Revision: Acting Body: Date: Action: Result: A A A A A A A Jesly De Los Santos Carlos I. Suarez Domini J. Gibbs George K. Wysong III OMNI Community Redevelopment Agency OMNI Community Redevelopment Agency City Clerk's Office 3/4/2026 3/5/2026 3/5/2026 3/5/2026 3/12/2026 3/12/2026 3/12/2026 Staff Review Department Head Review ACA Review Approved Form and Correctness Meeting ADOPTED Rendered Completed Completed Completed Completed Completed Passed Completed City of Miami Page 2 of 2 Printed on: 4/6/2026