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HomeMy WebLinkAboutCRA-R-26-0017 Exhibit A-SUBTHIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT Damian Pardo Board Chair la•it Omni CRA INTER -OFFICE MEMORANDUM Carlos I. Suarez Executive Director TO: Board Chair Damian Pardo and DATE: April 23rd, 2026 Members of the CRA Board FROM: Carlos I. Suarez SUBJECT: 4/5ths Bid Waiver Executive Director Funding — 157 NW 17 Street BACKGROUND: The Omni Redevelopment District Community Redevelopment Agency ("CRA") is responsible for carrying out community redevelopment activities and projects within its redevelopment area in accordance with the CRA Redevelopment Plan ("Plan"). On September 13, 2016, the CRA approved and adopted Resolution No. CRA-R-16-0042, adopting the City of Miami's procurement ordinance as the process by which any and all services and goods are procured by the CRA. In accordance with the CRA's 2019 Redevelopment Plan ("Plan") and Chapter 163, Florida Statutes, the Board will consider funding an amount not to exceed Four Million Dollars and 00/100 Dollars ($4,000,000.00) to Estella Lockette, an individual and owner of the property identified by folio number 01-3125-048-1111 located at 157 North West 17th Street, Miami, Florida, to underwrite the expenditures and costs associated with the redevelopment cost of a 10-unit mixed -unit, mixed - income housing project within the CRA's boundaries. The project will include two units for eligible residents whose annual income is equal to or less than 30% of the Area Median Income ("AMI") for Miami -Dade County, as published by HUD. Another two units for eligible residents whose annual income is equal to or less than 60% of the Area Median Income ("AMI") for Miami -Dade County, as published by HUD, six units for eligible residents whose annual income is equal to or less than 70% of the Area Media Income ("AMI") for Miami -Dade County, as published by HUD, and a ground -level community and/or commercial space of approximately three thousand (3,000) square feet for the pontential use of a neighborhood coffee shop, an art gallery for local artists, and a public serenity garden. JUSTIFICATION: This aligns with the Plan's objective of incentivizing diverse housing options, including affordable and workforce housing. The Plan also aims to attract downtown workers and enhance the area's visual appeal to businesses and residents through varied housing options. This Project will further advance the CRA's goals of eliminating slum and blight by introducing quality housing and activating underutilized space within the CRA. 19172 Exhibit A -SUB THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT Specifically, the Project will deliver ten (10) attainable housing units, along with community -serving amenities including a coffee shop, an art gallery for local artists, and a publicly accessible serenity garden, collectively representing approximately seventy-eight percent (78%) of the Project. FUNDING: The grant funding will be a total amount not to exceed amount of $4,000,000.00, and is hereby approved. Damian Pardo Board Chair SUBSTITUTED Omni C R A INTER -OFFICE MEMORANDUM TO: Board Chair Damian Pardo and DATE: April 23rd, 2026 Members of the CRA Board Carlos I. Suarez Executive Director FROM: Carlos I. Suarez SUBJECT: 4/5ths Bi' aiver Executive Director Fundin : — 157 NW 17 Street BACKGROUND: The Omni Redevelopment District Community Redev- •pment Agency ("CRA") is responsible for carrying out community redevelopment activities a►: projects within its redevelopment area in accordance with the CRA Redevelopment Plan ("P n"). On September 13, 2016, the CRA approved a the City of Miami's procurement ordinance are procured by the CRA. adopted Resolution No. CRA-R-16-0042, adopting the process by which any and all services and goods In accordance with the CRA's 2019 ' development Plan ("Plan") and Chapter 163, Florida Statutes, the Board will consider funding a amount not to exceed Four Million Dollars and 00/100 Dollars ($4,000,000.00) to Estella Locke -, an individual and owner of the property identified by folio number 01-3125-048-1111 located - 157 North West 17th Street, Miami, Florida, to underwrite the expenditures and costs as •ciated with the Predevelopment cost of a 10-unit mixed -unit, mixed - income housing project hin the CRA's boundaries. The project will include two units for eligible residents whose annu- income is equal to or less than 30% of the Area Median Income ("AMI") for Miami -Dade County -s published by HUD. Another two units for eligible residents whose annual income is equal to •r less than 60% of the Area Median Income ("AMI") for Miami -Dade County, as published by H , six units for eligible residents whose annual income is equal to or less than 70% of the Area M- •ia Income ("AMI") for Miami -Dade County, as published by HUD, and a ground -level community . nd/or commercial space of approximately three thousand (3,000) square feet for the pontenti- use of a neighborhood coffee shop, an art gallery for local artists, and a public serenity garde IFICATION: his aligns with the Plan's objective of incentivizing diverse housing options, including affordable and workforce housing. The Plan also aims to attract downtown workers and enhance the area's visual appeal to businesses and residents through varied housing options. This Project will further advance the CRA's goals of eliminating slum and blight by introducing quality housing and activating underutilized space within the CRA. SUBSTITUTED Specifically, the Project will deliver ten (10) attainable housing units, along with community-servi amenities including a coffee shop, an art gallery for local artists, and a publicly accessible serety garden, collectively representing approximately seventy-eight percent (78%) of the Project. FUNDING: The grant funding will be a total amount not to exceed amount of $4,000,000.00, d is hereby approved.