HomeMy WebLinkAboutCRA-R-26-0022 Exhibit A,tlisi
Omni
C R A
INTER -OFFICE MEMORANDUM
Carlos I. Suarez
Executive Director
TO: Board Chair Damian Pardo and DATE: May 28th, 2026
Members of the CRA Board
FROM: Carlos I. Suarez
Executive Director
SUBJECT: Resolution Authorizing Grant
EWB Holdings, LLC Multi -Generational
Duplex Project at 1695 NW 1st Court
BACKGROUND:
The proposed project, located at 1695 Northwest 1st Court, Miami, Florida, identified by folio
number 01-3125-048-1160 and owned by EWB Holdings, LLC (the "Developer"), directly
advances the Omni CRA's mission to reduce slum and blight while increasing the availability of
affordable housing within the Redevelopment Area. The project consists of the construction and
development of a multi -generational, family -centered duplex containing two (2) five -bedroom
affordable housing units for residents whose annual income is equal to or less than seventy
percent (70%) of the Area Median Income ("AMI") for Miami -Dade County, as published annually
by the United States Department of Housing and Urban Development ("HUD") (the "Project"). The
Project is consistent with the CRA's 2019 Redevelopment Plan, which prioritizes the creation of
affordable and workforce housing options and encourages partnerships with private entities to
redevelop blighted properties and improve the public realm.
The requested allocation, in an amount not to exceed One Million Seven Hundred Thousand and
00/100 Dollars ($1,700,000.00), will underwrite costs associated with the construction and
development of the Project. Funding for the Project shall be contingent upon the substantial
completion, defined as eighty percent (80%) completion, of the mixed -income development
project located at 1433 Northwest 1st Court and 1435 Northwest 1st Court, Miami, Florida,
previously approved by the Board on June 26, 2025, pursuant to CRA Resolution No. CRA-R-25-
0029. Dr. Evalina Bestman, owner of EWB Holdings, LLC, has demonstrated a longstanding
commitment to serving Miami residents through her work in community health and affordable
housing. The proposed duplex is intended to serve as a model for developing vacant lots zoned
for duplexes into permanently affordable, family -sized housing opportunities for residents within
the Redevelopment Area.
JUSTIFICATION:
The Board of Commissioners is urged to approve the resolution ratifying, approving, and
confirming the Executive Director's recommendation and finding 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.
The resolution further waives the requirements for competitive sealed bidding and authorizes the
allocation of funds to the Developer for the Project.
The Project addresses a critical need for larger affordable housing units capable of
accommodating multi -generational families, while supporting the CRA's goals of eliminating slum
and blight, promoting redevelopment of underutilized properties, and expanding long-term
affordable housing opportunities. The allocation will be subject to all required agreements and
supporting documents, including a Forgivable Loan Agreement and a restrictive covenant
requiring rent restrictions for thirty (30) years, to be recorded in the public records of Miami -Dade
County, Florida. Funds will be disbursed on a reimbursement basis or upon presentation of
invoices or satisfactory documentation, all in forms acceptable to General Counsel.
FUNDING:
$1,700,000.00 allocated from OMNI CRA Reserve Account Number
10040.920501.8830000.0000.00000 - "Other Grant and Aids".