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Home My WebLink AboutCRA-R-26-0017 MemorandumOMNI Board of Commissioners Meeting April 23, 2026 OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY INTER -OFFICE MEMORANDUM Board Chair Damian Pardo and Members of the CRA Board From: Carlos I. Suarez Executive Director Date: April 24, 2026 File: 19172 Subject: 4/5ths Grant Funding - 157 NW 17th Street Enclosures: 19172 Exhibit A -SUB 19172 Cover Memo -SUB 19172 Backup 19172 Notice to the Public 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 potential 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. 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. City of Miami Page 2 of 5 File ID: 19172 (Revision: A) Printed On: 7/27/2026 Omni CRA City of Miami Legislation OMNI CRA Resolution CRA-R-26-0017 OMNI CRA 1401 N. Miami Avenue Miami, FL 33136 www.miamicra.com File Number: 19172 Final Action Date:4/23/2026 A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY ("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 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 GRANT FUNDS FROM THE CRA'S FISCAL YEAR 2025-2026 BUDGET IN AN AMOUNT NOT TO EXCEED FOUR MILLION AND 00/100 DOLLARS ($4,000,000.00) TO ESTELLA LOCKETTE, AN INDIVIDUAL AND OWNER OF THE PROPERTY LOCATED AT 157 NORTH WEST 17TH STREET, MIAMI, FLORIDA, CONTINGENT UPON THE ISSUANCE OF THE CRA'S TAX INCREMENT REVENUE BONDS, SERIES 2026, TO UNDERWRITE COSTS ASSOCIATED WITH THE REDEVELOPMENT AND REHABILITATION OF THE LOCKETTE HOUSE, A TEN (10) UNIT AFFORDABLE HOUSING RESIDENTIAL AND COMMERCIAL MIXED -USE PROJECT ("PROJECT"); AUTHORIZING THE EXECUTIVE DIRECTOR TO DISBURSE FUNDS ON A REIMBURSEMENT BASIS OR UPON THE PRESENTATION OF INVOICE OR SATISFACTORY DOCUMENTATION; 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 50 YEARS AS MORE PARTICULARLY DETAILED IN A RESTRICTIVE COVENANT THAT IS TO BE RECORDED IN THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA; PROVIDING FOR THE INCORPORATION OF RECITALS AND AN EFFECTIVE DATE. WHEREAS, the Omni Redevelopment District Community Redevelopment Agency ("CRA") is tasked with reducing slum and blight within its boundaries; and WHEREAS, Estella Lockette, an individual ("Developer") and the owner of the property identified by folio number 01-3125-048-1111 located at 157 North West 17th Street, Miami, Florida, within the CRA Redevelopment Area ("Property"), submitted a request for grant funding to redevelop and rehabilitate a 10-unit affordable housing mixed -use and mixed -income project, to include two (2) units for income -eligible residents whose annual income is equal to or less than 30% of the Area Median Income ("AMI") for Miami -Dade County, as published annually by City of Miami Page 3 of 5 File ID: 19172 (Revision: A) Printed On: 7/27/2026 the United States Department of Housing and Urban Development ("HUD"), two (2) units for low-income eligible residents whose annual income is equal to or less than 60% AMI for Miami - Dade County, as published by HUD, and six (6) units for moderate -income eligible residents whose annual income is equal to or less than 70%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 (the "Project"); and WHEREAS, the CRA's 2019 Redevelopment Plan ("Plan") provides for the promotion of a variety of housing options, including affordable and workforce housing, and encourages partnerships with private entities to redevelop blighted properties and improve the public realm; and WHEREAS, the Developer requests grant funding in an amount not to exceed Four Million and 00/100 Dollars ($4,000,000.00) to underwrite the costs associated with the Project; and WHEREAS, funding this Project is critical to addressing slum and blight, while enhancing affordable housing options within the CRA, while also supporting small and local business development, creating jobs, and improving the public sphere by providing a space for local artists and placemaking, consistent with the goals outlined in the Plan; and WHEREAS, based on the recommendation and finding of the Executive Director, attached and incorporated as Exhibit "A," it is in the CRA's best interest to authorize, by an affirmative four -fifths (4/5ths) vote, a waiver of competitive sealed bidding procedures pursuant to Sections 18-85 and 18-86 of the Code of the City of Miami, Florida, as amended ("City Code"), as adopted by the CRA, for the allocation of grant funds in an amount not to exceed Four Million and 00/100 Dollars ($4,000,000.00) to be disbursed, subject to the Executive Director's discretion on a draw schedule or upon the presentation of invoices or proper documentation to the Developer for the Project; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF MIAMI, FLORIDA: Section 1. The recitals and findings contained in the Preamble of this Resolution are adopted by reference and incorporated herein as fully set forth in this Section. Section 2. By a four -fifths (4/5ths) affirmative vote, after an advertised public hearing, the Executive Director's recommendation and written finding, attached and incorporated as Exhibit "A," pursuant to Sections 18-85 and 18-86 of the City Code, as adopted by the CRA, are ratified, approved, and confirmed, and the requirements for competitive sealed bidding are waived as not being practicable or advantageous to the CRA. Section 3. The allocation of Grant Funds in an amount not to exceed Four Million and 00/100 Dollars ($4,000,000.00) to the Developer for the Project are hereby authorized from the CRA Fiscal Year 2025-2026 budget, subject to the availability of funding, contingent upon the issuance of the CRA's tax increment revenue bonds, series 2026. Section 4. The Executive Director is hereby authorized to negotiate and execute a Forgivable Loan Agreement and supporting documents, including any and all other documents necessary, all in forms acceptable to the General Counsel, for the purpose stated herein, City of Miami Page 4 of 5 File ID: 19172 (Revision: A) Printed On: 7/27/2026 including, but not limited to, a restrictive covenant detailing the rent restrictions as stated herein, all being subject to the rents being restricted for 50 years which shall be recorded in the public records of Miami -Dade County, Florida. Section 5. This Resolution shall become effective immediately upon its adoption. APPROVED AS TO FORM AND CORRECTNESS: 26‘44 ORGE tWYSON III, ENERAL COUNSEL City of Miami Page 5 of 5 File ID: 19172 (Revision: A) Printed On: 7/27/2026