OMNI Community Redevelopment Agency - Regular Meeting
Agenda Items (4)
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY SUPPLEMENTING RESOLUTION CRA-R-25-0076 ADOPTED ON DECEMBER 11, 2025 ENTITLED ”A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY, WITH ATTACHMENT(S), AUTHORIZING THE ISSUANCE OF NOT TO EXCEED AGGREGATE PRINCIPAL AMOUNT OF $150,000,000 REDEVELOPMENT REVENUE BONDS, SERIES 2026 FOR THE PRINCIPAL PURPOSE OF FINANCING CERTAIN REDEVELOPMENT PROJECTS; PROVIDING THAT THE SERIES 2026 BONDS SHALL BE LIMITED OBLIGATIONS OF THE ISSUER PAYABLE FROM TAX INCREMENT REVENUES AS PROVIDED HEREIN AND MAY BE ISSUED AS TAX-EXEMPT OR TAXABLE BONDS; PLEDGING SUCH TAX INCREMENT REVENUES AND PROCEEDS OF CERTAIN FUNDS AND ACCOUNTS CREATED HEREIN TO SECURE PAYMENT OF THE PRINCIPAL AND INTEREST ON THE SERIES 2026 BONDS; DELEGATING THE AWARD OF THE SALE OF THE SERIES 2026 BONDS TO THE CHAIRMAN; APPOINTING A REGISTRAR AND PAYING AGENT; APPROVING THE EXECUTION AND DELIVERY OF A BOND PURCHASE AGREEMENT; APPROVING THE EXECUTION AND DELIVERY OF A CONTINUING DISCLOSURE AGREEMENT; PROVIDING FOR THE RIGHTS, SECURITIES AND REMEDIES FOR THE OWNERS OF THE SERIES 2026 BONDS; MAKING CERTAIN COVENANTS AND AGREEMENTS IN CONNECTION THEREWITH; AND PROVIDING AN EFFECTIVE DATE.”; MAKING CERTAIN COVENANTS AND AGREEMENTS IN CONNECTION THEREWITH; AND PROVIDING AN EFFECTIVE DATE.
19002A 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 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.
19003A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY (“OMNI 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 OMNI CRA PURSUANT TO SECTIONS 18-85 AND 18-86 OF THE CODE OF THE CITY OF MIAMI, FLORIDA, AS AMENDED, AS ADOPTED BY THE OMNI CRA; WAIVING THE REQUIREMENTS FOR COMPETITIVE SEALED BIDDING AS NOT BEING PRACTICABLE OR ADVANTAGEOUS TO THE OMNI CRA; AUTHORIZING THE ALLOCATION OF GRANT FUNDS IN AN AMOUNT NOT TO EXCEED ONE MILLION FIVE HUNDRED THOUSAND DOLLARS ($1,500,000.00), TO GREATER ISRAEL BETHEL PRIMITIVE BAPTIST CHURCH, A FLORIDA NOT-FOR-PROFIT CORPORATION, LOCATED AT 160 NORTHWEST 18 STREET, MIAMI, FLORIDA 33136 (“PROPERTY”),CONTINGENT UPON THE ISSUANCE OF THE OMNI CRA’S TAX INCREMENT REVENUE BONDS, SERIES 2026, FOR REPAIRS, REHABILITATION, AND RENOVATIONS TO THE PROPERTY; AUTHORIZING THE EXECUTIVE DIRECTOR TO DISBURSE GRANT FUNDS ON A REIMBURSEMENT BASIS OR UPON THE PRESENTATION OF INVOICES OR SATISFACTORY DOCUMENTATION; FURTHER AUTHORIZING THE EXECUTIVE DIRECTOR TO NEGOTIATE AND EXECUTE A GRANT AGREEMENT, INCLUDING ANY AND ALL OTHER DOCUMENTS NECESSARY FOR THE PURPOSE STATED HEREIN, ALL IN FORMS ACCEPTABLE TO THE GENERAL COUNSEL; PROVIDING FOR THE INCORPORATION OF RECITALS AND AN EFFECTIVE DATE.
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