OMNI CRA Meeting

OMNI CRA Meeting — April 23, 2026 - 12:08 PM

[Applause] [Applause] [Laughter] [Applause] The southeast overtown park [Laughter] [Applause] West cra meeting. Good afternoon everyone. Good afternoon good afternoon good afternoon MADAM. What happened todd. Sorry I thought I had heard. You did but oh he well because he was they told [Laughter] Me to go with the other one because he left the dais. Well we'll have to flip the tape okay. >> never mind. We'll just go with omni because the chair is back. We'll go with the omni because they flipped the tape for the omni go [Laughter] With the omni. Get out. [Applause] [Laughter] Carlito we're going with omni. He's back. [Applause] Yeah. >> here. [Applause] [Applause] [Applause] And that's after [Laughter] Our one. [Laughter] Go [Laughter] Upstairs. That's a good idea. Because we gotta go upstairs. Yeah. >> I don't want to go upstairs at six. >> that's a good idea. Do we have [Applause] Richie on zoom? Okay. Okay. Uh, good afternoon everyone. I'm calling to order the APRIL 23rd, 2026 omni cra meeting. Is there a motion to approve the minutes for the MARCH 12th, 2026 omni cra meeting. Motion all in favor? Aye. >> motion carries. The public comment period is now open for all resolutions and discussion items on today's agenda. Oh yeah go ahead. Um no no worries. Good afternoon javier alban, deputy city attorney for the office city attorney here serving as general counsel for the omni cra. Item number one is a resolution of the board of commissioners of the omni cra by a 4/5 vote authorizing the allocation of grant funds in an amount not to exceed $4 million to estella lockett to underwrite costs associated with redevelopment and rehabilitation of the lockett house, a ten unit residential affordable housing mixed use project located at 157 northwest 17th street further authorizing the executive director to disburse funds for the project and to negotiate and execute a forgivable loan and supporting documents all being subject to the rents being restricted for 50 years as more particularly described in a restricted covenant to be recorded in the public records of miami dade county and item number one is being amended to reflect an update in the memo clarifying that the funds are to be used for the redevelopment and rehabilitation costs associated with the project. And item number two is a resolution of the board of commissioners, the omni cra authorizing and approving the subordination of the cra's forgivable loan as authorized pursuant to resolution number crar-24-0046 and amended pursuant to resolution number crar-26006 uh made to kush property llc for the mixed use affordable housing development located at 2003 north miami avenue to the additional lender nrd one public benefits trust fund of the wynwood business improvement district in an amount not to exceed $2,800,000. Further authorizing the executive director to negotiate and execute an amendment to the forgivable loan agreement, a subordination agreement and any additional necessary documents to effectuate said subordination. Okay, the public comment period is now open for all resolutions and discussion items on today's agenda. Public comment anyone here for public comment okay seeing no further public comment, the public comment period is now closed. Is there any discussion among the board [Applause] Members regarding resolutions one and two? No, no. Is there a motion for resolutions one two so moved all those in favor? Aye motion carries. Item number one is amended. Then we also have item di1. This is a discussion item for our audit. If richie is on zoom. You can put richie through. If the the zoom administrator can allow MR. Tandoc to appear on on the screen. Can you hear me? Yes, we can hear you. Oh okay. Well good afternoon chair and board members. My name is richie tandoc with richie tannock dacpa. I am the partner in charge of the omni cras audit engagement for the fiscal year ended SEPTEMBER 30th, 2025. Um I thank you very much for allowing me to present via zoom. Before I get into my brief presentation I'd like to thank carlos suarez and larry spring for their cooperation and assistance and you know, completing this year's audit of the cra. Yes. Uh, each of you should have received a copy of the report, um on the results of the 2025 audit, um and our required communications as your auditor. Um, I'd like to just briefly go over um some of those those required communications uh starting on page one of that of that report. Um regarding the auditor's responsibilities our responsibilities under generally accepted auditing standards and government auditing standards we have issued an unmodified opinion which is a clean opinion on the cra basic financial statements for the year ended SEPTEMBER 30th 2025. We also issued a report on the agency's internal control over financial reporting and on compliance and other matters for the year ended SEPTEMBER 30th, 2025. Uh, we I'm sorry we reported no significant deficiencies in internal control in our report. Uh, both reports are dated MARCH 5th, 2026, um, regarding significant accounting policies. Uh, the agency significant accounting policies are described in note one to the financial statements and those accounting principles that were selected by management are consistent with those prescribed by government audit accounting standards and the agency's financial statements and related disclosures are clearly presented in a complete a complete manner. Uh, regarding accounting estimates for the fiscal year ended SEPTEMBER 30th, 2025, management judgment is called upon to establish the useful lives of capital assets. we determined that those that those estimates are reasonable uh going down to significant or unadjusted audit adjustments. We had no significant or unadjusted audit adjustments during the current year audit going to the next page regarding fraud and illegal acts, we are not aware of any fraud or illegal acts that occurred in fiscal year involving senior management or any fraud or illegal acts involving any employee that would cause a material misstatement in the financial statements uh going down to independence uh there are no relationships between us and the agency or its related entities, including the city that in our professional judgment MAY reasonably be thought to impede our independence with regards to our audit of the agency as of SEPTEMBER 30th, 2025, we are independent uh with respect to the agency in accordance with the rules of the aicpa, uh and government auditing standards and we have not performed any non-audit services for the agency during the fiscal year ended SEPTEMBER 30th, 2025 or thereafter with the exception of assisting in preparing financial statements. Um and lastly going to the management letter, uh, we are required to issue a management letter in accordance with rules of the auditor general. We did issue that report which is dated MARCH 5th, 2026 and we did not uh we did not document any issues therein. If you have any specific questions about our opinion, our audit or the financial statements, I'd be happy to to address those. Can we have a motion to accept the findings of the fiscal year 2025 external independent audit report as presented. So moved. >> second. >> all those in favor. Aye aye. >> motion passes. Thank you everyone for being here today. The meeting is now adjourned. Thank you.