Omni CRA approves $2.9 million grant for Overtown rental rehab; UNITower amendment and procedural rule also pass

The Omni Community Redevelopment Agency board on June 26, 2025, approved three resolutions including a grant of up to $2,900,000 to developer Evelina Bessemer to rehabilitate 11 rental units at 1433 and 1435 Northwest First Court in District 5, with rents restricted for 30 years.

The board’s action matters because it directs OmniCRA funds to a small, mixed‑income rental project in Overtown that the agency says will preserve long‑term affordability for part of the building and because the meeting also approved a developer repayment option for a separate mixed‑income project and a procedural change for board meetings.

Executive staff read the three resolutions into the record at the start of the June 26 meeting. The first resolution authorizes a grant to Bessemer “for properties located within the District 5 portion of the OmniCRA at 1433 Northwest First Court and 1435 Northwest First Court for an amount not to exceed $2,900,000,” with rents restricted for 30 years as detailed in a restrictive covenant. The executive director stated, “the total project cost is 3,300,000.0 and $80,004.98.” The director also said the applicant’s contribution and land value are modest relative to the total cost: each of the two parcels was described as about $300,000 based on an informal assessment.

Commissioners asked for unit-level detail before the vote. Staff said the project contains 11 units. Two one‑bedroom units will be rented at 30 percent of area median income (AMI) at $638 per month; the remaining units are a mix of one‑, two‑ and three‑bedrooms. Staff gave the following rents for other units: one two‑bedroom at $1,200, a second two‑bedroom at $2,000, a third two‑bedroom at $2,300, and the three‑bedroom at $2,600. Staff also provided approximate unit sizes: about 500 square feet for one‑bedrooms, about 750 square feet for two‑bedrooms and about 883 square feet for the three‑bedroom. On development cost per unit, staff said, “The average cost per unit is about 270 for development, $270,000.”

During the public‑comment portion of the hearing, the developer identified herself as Evelina Bessemer and addressed the board. Bessemer recounted her personal connection to Overtown and said the project responds to local need. She told the board, “I’ll always dream the impossible dream,” as part of her remarks asking for approval.

The second resolution approved by the board authorizes action on a separate mixed‑income project referred to in the record as UNITower and includes an amendment giving the developer the option to repay $2,500,000 if the project’s rent restrictions are later lifted. The third resolution adopts the City of Miami’s order of business and rules of procedure for the OmniCRA board to allow for automatic continuance of meetings in the event of an emergency, consistent with the City of Miami code.

The three resolutions were considered and voted on together. A motion to approve items 1 through 3 was moved and seconded; the chair asked “All those in favor?” and the record states, “Motion carries.” The meeting record does not include a roll‑call vote or a numerical tally in the transcript.

Votes at a glance

• Resolution 1 — Grant to rehabilitate 11 units at 1433 and 1435 NW First Court: approved. Grant amount: not to exceed $2,900,000; affordability covenant: 30 years; units: 11; two units at 30% AMI ($638/month). Total project cost reported by staff: $3,300,080.98 (as read into the record). Applicant land value (informal assessment): about $300,000 per parcel.

• Resolution 2 — UNITower mixed‑income project with amendment: approved. Amendment: developer option to repay $2,500,000 if rent restrictions are lifted.

• Resolution 3 — Adoption of City of Miami order of business and rules of procedure (automatic continuance in emergencies): approved.

The public hearing on the three resolutions was opened for comment and then closed before the board took its vote. No formal conditions or amendments to Resolution 1 were recorded on the transcript beyond the affordability covenant and the figures discussed during the staff presentation. The board adjourned after the vote.