TITLE
RESOLUTION APPROVING THE AMENDED FISCAL YEAR 2025-2026 BUDGET TOTALING $73,064,289.00 FOR THE OMNI COMMUNITY REDEVELOPMENT AGENCY AND THE OMNI COMMUNITY REDEVELOPMENT AREA

BODY
WHEREAS, this Board desires to accomplish the purpose outlined in the accompanying County Mayor�s memorandum, a copy of which is incorporated herein by reference,

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF MIAMI-DADE COUNTY, FLORIDA, that:

Section 1. The matters contained in the foregoing recitals and the accompanying memorandum are incorporated in this resolution by reference.

Section 2. This Board approves the amended budget for Fiscal Year 2025-26 totaling $73,064,289.00 for the Omni Community Redevelopment Agency and the Omni Community Redevelopment Area, in substantially the form attached hereto as Exhibit A and incorporated herein by reference.

HEADER
Date:
To: Honorable Chairman Anthony Rodriguez
and Members, Board of County Commissioners

From: Daniella Levine Cava
Mayor

Subject: Omni Community Redevelopment Agency Amended FY 2025-26 Budget

STAFF RECOMMENDATION
Executive Summary
This item transmits to the Board of County Commissioners (Board) for approval the Amended FY 2025-26 Budget for the Omni Community Redevelopment Agency (Agency). Pursuant to section 163.387, Florida Statutes, the Board is the governing body of all community redevelopment agencies (CRAs) in Miami-Dade County and all annual CRA budgets and budget amendments are submitted to the Board for approval. A summary of the Agency�s budget is provided in this memorandum as Attachments A and B to this memorandum. The Agency and its counsel have determined that all expenditures associated with its budget are allowable under the Agency�s Redevelopment Plan, the Interlocal Cooperation Agreement with the County, and Chapter 163, Part III, Florida Statutes. The Agency�s amended FY 2025-26 budget was approved by the Agency on February 12, 2026, through Resolution No. CRA-R-26-0007 (Attachment A) and the City of Miami (City) on February 26, 2026, through Resolution No. R-26-0094 (Attachment B) in the total amount of $73,064,289 for the Omni Community Redevelopment Area (redevelopment area).

Recommendation
It is recommended that the Board approve the Agency�s amended FY 2025-26 budget in the total amount of $73,064,289 for the redevelopment area.

Scope
The redevelopment area is located within County Commission Districts 3 and 5, which are represented by Commissioner Keon Hardemon and Commissioner Vicki Lopez, respectively.

Fiscal Impact / Funding Source
The Agency�s revenue source is tax increment financing (TIF), which is generated through the incremental growth of ad valorem revenues beyond an established base year, as defined in section 163.387, Florida Statutes.

The Agency�s amended FY 2025-26 Budget totaling $73,064,289, was approved by the Agency on February 12, 2026, through Resolution No. CRA-R-26-0007 and the City on February 26, 2026, through Resolution No. R-26-0094. Both resolutions are attached to this memorandum and are incorporated herein by reference (Attachments A and B). The budget is inclusive of $18,408,825 of County TIF payment, $28,721,630 of City TIF payment, carryover funds of $24,024,863, Children�s Trust TIF contribution of $1,808,970, and $100,000 of other income.

Administrative expenditures total $3,394,220, which includes employee salaries and fringes, audit, travel, insurance, supplies memberships, rental expenses and administrative support reimbursement to the City. Total administrative expenditures, excluding the County�s administrative reimbursement of $706,957, represent 3.68 percent of the total budgeted expenditures, which is below the 20 percent cap for administrative cost allowed by the interlocal.

Operating and redevelopment expenses total $69,670,068 and include:
� $25,000 for accounting and audit
� $1,400,000 for professional and contractual services


Honorable Chairman Anthony Rodriguez
and Members, Board of County Commissioners
Page 2

� $31,285,468 for grants to outside organizations
� $2,815,441 for debt service
� $2,197,869 for interfund transfers
� $250,768 for land acquisition
� $1,429,835 for construction projects in progress
� $27,727,291 for obligations with other governments including:
- $17,925,659 to the County including a 35 percent TIF reimbursement as stipulated in the interlocal and annual $1.4 million bond payment for the Performing Arts Center
- $3,992,662 for the Seaport tunnel
- $1,808,970 reimbursement to the Children�s Trust to fund children�s programs within the CRA redevelopment area
- $4,000,000 for Maurice Ferre Park capital improvements and City reimbursement
� $2,538,396 for reserves committed to capital and operational projects

The County and the City will continue to make annual payments, based on each respective year�s growth of ad valorem revenues over the base year, to the Agency through 2047, when the Agency and the redevelopment area are scheduled to sunset.

Delegation of Authority
This item does not delegate authority to the County Mayor or County Mayor�s designee.

Track Record / Monitor
This item does not provide for contracting with any specific entity.

Background
On July 7, 1987, the Board adopted Resolution No. R-825-87 and Ordinance No. 87-47, which approved the Plan and established a trust fund (Trust Fund) for the Area, respectively. Additionally, Ordinance No. 87-47 designated the City Commission as the board of commissioners of the Agency. On March 19, 1996, the Board adopted Resolution No. R-280-96, which approved the terms and conditions of the Interlocal, including the redevelopment powers granted to the Agency.

On December 18, 2007, the Board adopted Resolution R-1372-07 approving the first amendment to the interlocal agreement that among other things required the Agency to reimburse the County 35 percent of the Agency�s TIF revenue for support of the Performing Arts Center. On January 21, 2010, the Board approved amendments to the Agency�s finding of necessity and plan to expand the area and extend the life of the Agency and the redevelopment area until March 31, 2030. On November 21, 2017, the Board adopted Resolution No. R-1128-17, which allowed the Agency to issue debt not to exceed $25 million for the purpose of funding projects in the redevelopment area.

On June 16, 2020, the Board adopted Resolution No. R-575-20, which accepted the assessment of need study, approved the extension of life of the Agency and area until July 7, 2047, approved the Second Amendment to the Interlocal Cooperation Agreement and the updated plan, and required the Agency to pay the County 1.5 percent administrative fee. Additionally, the Agency and the City approved a $150 million bond to fund projects contained within the redevelopment plan. Approval of the $150 million bond is pending approval by the Board of County Commissioners, currently scheduled for its April 21,2026 meeting.

Attachments



Carladenise Edwards Chief Administrative Officer