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HomeMy WebLinkAboutAgenda Item Summary Form1IV OF Hw `93 AGENDA ITEM SUMMARY FORM File ID: #7750 o..Ryl. Date: 08/07/2020 Requesting Department: Department of Housing and Community Development Commission Meeting Date: 09/10/2020 Sponsored By: Keon Hardemon District Impacted: All Type: Resolution Subject: Accept Parcel Land - NW 62 ST Between 15 AV and NW 17 AV Purpose of Item: AUTHORIZING A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), AUTHORIZING THE CITY MANAGER TO ACCEPT THE MIAMI- DADE COUNTY OWNED PARCEL OF LAND LOCATED AT NW 62 STREET BETWEEN NW 15 AVENUE AND NW 17 AVENUE (FOLIO NO. 01-3114-035-2035) AS MORE PARTICULARLY DESCRIBED IN EXHIBIT "A," ATTACHED AND INCORPORATED ("PARCEL"), PURSUANT TO MIAMI-DADE COUNTY RESOLUTION NO. 1366-19, ATTACHED AND INCORPORATED AS EXHIBIT "B," FOR A TOTAL AMOUNT NOT TO EXCEED TWO THOUSAND FIVE HUNDRED DOLLARS ($2,500.00) PLUS CLOSING COSTS; FURTHER AUTHORIZING, PURSUANT TO SECTION 29-B (A) OF THE CHARTER OF THE CITY OF MIAMI, FLORIDA, AS AMENDED ("CITY CHARTER"), THE CONVEYANCE OF SAID PARCEL, WITH AFFORDABLE/WORKFORCE RENTAL HOUSING RESTRICTIONS, AND AUTOMATIC REVERTER PROVISIONS, TO RESIDENCES AT DR. KING BOULEVARD, LTD., IN THE AMOUNT OF TWO THOUSAND FIVE HUNDRED DOLLARS ($2,500.00) PLUS CLOSING COSTS, AS PART OF THE RESIDENCES AT DR. KING BOULEVARD DEVELOPMENT FOR THE PURPOSE OF CREATING AFFORDABLE/WORKFORCE RENTAL HOUSING, FOR ELIGIBLE LOW TO MODERATE AND WORKFORCE INCOME PERSONS; FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE ANY AND ALL NECESSARY DOCUMENTS, INCLUDING AMENDMENTS, EXTENSIONS, AND MODIFICATIONS, ALL IN FORMS ACCEPTABLE TO THE CITY ATTORNEY AND BOND COUNSEL, FOR SAID PURPOSE. Background of Item: Pursuant to Resolution Nos. 17-0512, 19-0141, and 20-0157 on November 16, 2017, April 11, 2019, and May 14, 2020 respectively (collectively, "Resolutions"), the City Commission authorized the conveyance of the City of Miami ("City") owned properties located at 6240 Northwest 15 Avenue and 1501, 1515, 1525, 1535, 1551, 1560, 1520, and 1500 Northwest 62 Street, Miami, Florida (collectively, "Properties"), with affordable/workforce rental housing restrictions and automatic reverter provisions, to Residences at Dr. King Boulevard, Ltd., a Florida Limited Partnership ("RDK'), for the construction of affordable/workforce housing for eligible low to moderate and workforce income persons ("Project"). Miami -Dade County, Florida ("County") has proposed to convey to the City a parcel of land located at NW 62 Street between NW 15 Avenue and NW 17 Avenue (Folio No. 01-3114-035-2035) as more particularly described in Exhibit "A," attached and incorporated ("Parcel"), which will provide a benefit to the project by increasing the size of the existing lot. The Parcel will be conveyed through purchase and sale agreements ("Agreements") or by amending the City's existing purchase and sale agreement with RDK for the Project along with the Properties. The City shall require the following in order to convey the Parcel and the Properties to the Developers: (i) evidence satisfactory to the Director of the Department of Housing and Community Development ("Director") that financial commitments from the lender or lenders have been received; (ii) any mortgages obtained by the Developers on the Parcel and the Properties will be subject to the approval of the Director; (iii) payment by the Developer to the City of the total amount of restricted funds used to acquire, refinance, or improve the Parcel and the Properties with an affidavit of such payment and receipt by the City of such payment(s) in form(s) acceptable to the City's Finance Director, the City Attorney, and Bond Counsel; and (iv) the closing of the Parcel and Properties occurs simultaneously with the closing of the construction financing by the lender(s), if any. The requirements set forth in the Resolutions shall remain unchanged and shall henceforth apply to the Parcel as a part of the Project. The City's Administration is recommending the acceptance of the Parcel for the amount of Two Thousand Five Hundred Dollars ($2,500.00) plus closing costs, and the conveyance of said Parcel, with affordable/workforce rental housing restrictions, and automatic reverter provisions, to RDK, for the amount of Two Thousand Five Hundred Dollars ($2,500.00) plus closing costs, as part of the Project for the purpose of creating affordable/workforce rental housing, for eligible low to moderate and workforce income persons. Budget Impact Analysis Item is NOT funded by Bonds Item is NOT Related to Revenue Item has NO budget impact Total Fiscal Impact: N/A Reviewed By Department of Community and Economic Development Review Completed 08/07/2020 1:52 PM Office of Management and Budget Rene Lazaro Hernandez Office of Management and Budget Christopher M Rose City Manager's Office Sandra Bridgeman City Manager's Office Arthur Noriega V Legislative Division Valentin J Alvarez Office of the City Attorney Richard Appleton Office of the City Attorney Barnaby L. Min Office of the City Attorney Victoria Mendez George Mensah Department Head Budget Analyst Review Completed 08/27/2020 12:40 PM Budget Review Completed 08/28/2020 9:21 AM Assistant City Manager Review Completed 08/31/2020 5:11 PM City Manager Review Completed 08/31/2020 7:40 PM Legislative Division Review Completed 08/31/2020 7:55 PM ACA Review Completed 08/31/2020 8:23 PM Deputy City Attorney Review Completed 08/31/2020 8:33 PM Approved Form and Correctness Completed 08/31/2020 9:22 PM City Commission Nicole Ewan Meeting Completed 09/10/2020 9:00 AM Office of the Mayor Mayor's Office Unsigned by the Mayor Completed 09/16/2020 12:48 PM Office of the City Clerk City Clerk's Office Signed and Attested by the City Clerk Completed 09/16/2020 6:27 PM Office of the City Clerk City Clerk's Office Rendered Completed 09/16/2020 6:27 PM OF .�f City of Miami CityHall * iMonr 61ATF0 * os I Legislation g 3500 Pan American Drive > Miami, FL 33133 R_� Resolution www.miamigov.com Enactment Number: R-20-0254 File Number: 7750 Final Action Date:9/10/2020 A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENTS, ACCEPTING THE MIAMI-DADE COUNTY OWNED PARCEL OF LAND LOCATED AT NORTHWEST 62 STREET BETWEEN NORTHWEST 15 AVENUE AND NORTHWEST 17 AVENUE (FOLIO NO. 01-3114-035-2035), AS MORE PARTICULARLY DESCRIBED IN EXHIBIT "A," ATTACHED AND INCORPORATED ("PARCEL"), PURSUANT TO MIAMI-DADE COUNTY RESOLUTION NO. 1366-19, ATTACHED AND INCORPORATED AS EXHIBIT "B," FOR A TOTAL AMOUNT NOT TO EXCEED TWO THOUSAND FIVE HUNDRED DOLLARS ($2,500.00) PLUS CLOSING COSTS; FURTHER AUTHORIZING, PURSUANT TO SECTION 29-B(A) OF THE CHARTER OF THE CITY OF MIAMI, FLORIDA, AS AMENDED, THE CONVEYANCE OF THE PARCEL, WITH AFFORDABLE/WORKFORCE RENTAL HOUSING RESTRICTIONS AND AUTOMATIC REVERTER PROVISIONS, TO RESIDENCES AT DR. KING BOULEVARD, LTD., A FLORIDA LIMITED PARTNERSHIP, FOR AN AMOUNT OF TWO THOUSAND FIVE HUNDRED DOLLARS ($2,500.00) PLUS CLOSING COSTS AS PART OF THE RESIDENCES AT DR. KING BOULEVARD DEVELOPMENT FOR THE PURPOSE OF CREATING AFFORDABLE/WORKFORCE RENTAL HOUSING FOR ELIGIBLE LOW TO MODERATE AND WORKFORCE INCOME PERSONS; FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE ANY AND ALL NECESSARY DOCUMENTS, INCLUDING AMENDMENTS, EXTENSIONS, AND MODIFICATIONS, ALL IN FORMS ACCEPTABLE TO THE CITY ATTORNEY AND BOND COUNSEL, FOR SAID PURPOSE. WHEREAS, pursuant to Resolution Nos. R-17-0512, R-19-0141, and R-20-0157 adopted on November 16, 2017, April 11, 2019, and May 14, 2020 respectively (collectively, "Resolutions"), the City Commission authorized the conveyance of the City of Miami ("City") owned properties located at 6240 Northwest 15 Avenue and 1501, 1515, 1525, 1535, 1551, 1560, 1520, and 1500 Northwest 62 Street, Miami, Florida (collectively, "Properties") with affordable/workforce rental housing restrictions and automatic reverter provisions to Residences at Dr. King Boulevard, Ltd., a Florida limited partnership ("RDK"), for the construction of affordable/workforce housing for eligible low to moderate and workforce income persons ("Project"); and WHEREAS, Miami -Dade County ("County") has proposed to convey to the City a parcel of land located at Northwest 62 Street between Northwest 15 Avenue and Northwest 17 Avenue (Folio No. 01-3114-035-2035), as more particularly described in Exhibit "A," attached and incorporated ("Parcel"), which could provide a benefit to the Project by increasing the size of the existing lot; and WHEREAS, in order to convey the Parcel and the Properties to the Developers, the City shall require (i) evidence satisfactory to the Director of the Department of Housing and Community Development ("Director') that financial commitments from the lender or lenders have been received; (ii) any mortgages obtained by the RDK or subsequent developers (collectively, "Developer") on the Parcel and the Properties will be subject to the approval of the Director; (iii) payment by the Developer to the City of the total amount of restricted funds used to acquire, refinance, or improve the Parcel and the Properties with an affidavit of such payment and receipt by the City of such payment(s) in form(s) acceptable to the City's Finance Director, the City Attorney, and Bond Counsel; and (iv) the closing of the Parcel and Properties occurs simultaneously with the closing of the construction financing by the lender(s), if any; and WHEREAS, the requirements set forth in the Resolutions shall remain unchanged and shall henceforth apply to the Parcel as a part of the Project; and WHEREAS, the City's Administration is recommending the acceptance of the Parcel for the amount of Two Thousand Five Hundred Dollars ($2,500.00) plus closing costs and the conveyance of said Parcel with affordable/workforce rental housing restrictions and automatic reverter provisions to RDK for the amount of Two Thousand Five Hundred Dollars ($2,500.00) plus closing costs as part of the Project for the purpose of creating affordable/workforce rental housing for eligible low to moderate and workforce income persons; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by reference and incorporated as if fully set forth in this Section. Section 2. The City Manager is authorized' to accept the Parcel pursuant to County Resolution No. 1366-19, attached and incorporated as Exhibit "B," for a total amount not to exceed Two Thousand Five Hundred Dollars ($2,500.00) plus closing costs. Section 3. Pursuant to Section 29-B(A) of the Charter of the City of Miami, Florida, as amended, the conveyance of the Parcel with affordable/workforce rental housing restrictions and automatic reverter provisions to RDK for the amount of Two Thousand Five Hundred Dollars ($2,500.00) plus closing cost as part of the Project is authorized.' Section 4. The City Manager is authorized' to negotiate and execute any and all necessary documents, including amendments, extensions, and modifications, all in forms acceptable to the City Attorney and Bond Counsel, for said purpose. Section 5. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.2 APPROVED AS TO FORM AND CORRECTNESS: 1 i , 4indez, CiFy Attor iey 8/3112020 ' The herein authorization is further subject to compliance with all legal requirements that may be imposed, including but not limited to those prescribed by applicable City Charter and City Code provisions. Z If the Mayor does not sign this Resolution, it shall become effective at the end of ten (10) calendar days from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become effective immediately upon override of the veto by the City Commission.