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File Number: 9083
Revision: A
Enactment Number: R-21-0209
File Type: Resolution
File Name: Tranche 2 funding - Block 55 Project
Requesting Dept: Commissioners and Mayor
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
Status: ADOPTED WITH
MODIFICATION(S)
Controlling Body: City Commission
Introduced: 5/17/2021
Final Action Date: 5/27/2021
Title: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
ALLOCATING FUNDING, ON A REIMBURSEMENT BASIS, IN AN ADDITIONAL
AMOUNT NOT TO EXCEED TWO MILLION FIVE HUNDRED THOUSAND DOLLARS
($2,500,000.00) FROM THE PROPOSED TRANCHE 2 MIAMI FOREVER
AFFORDABLE HOUSING LIMITED AD VALOREM BONDS TO BLOCK 55
RESIDENTIAL, LP, A FLORIDA LIMITED PARTNERSHIP ("DEVELOPER"), FOR THE
AFFORDABLE HOUSING COMPONENTS OF A 19-STORY, HIGH RISE MIXED USE
COMMERCIAL AND RESIDENTIAL COMPLEX PROJECT TO BE LOCATED AT 249
NORTHWEST 6TH STREET, TO BE KNOWN AS "SAWYER'S LANDING" OR "BLOCK
55" ("PROJECT"), BEING DEVELOPED BY THE DEVELOPER UPON FULFILLMENT
BY THE DEVELOPER OF ALL OF THE TERMS AND CONDITIONS SET FORTH IN
THE COLLECTIVE MEMORANDA TO THE CITY OF MIAMI'S ("CITY") HOUSING AND
COMMERCIAL LOAN COMMITTEE, ATTACHED AND INCORPORATED AS
COMPOSITE EXHIBIT "A"; SUCH ALLOCATION TO BE IN COMPLIANCE WITH ALL
APPLICABLE FEDERAL, STATE OF FLORIDA ("STATE"), LOCAL, AND CITY LAWS,
RULES, AND REGULATIONS FOR AFFORDABLE HOUSING PROJECTS, INCLUDING
BUT NOT LIMITED TO THE CITY'S AFFORDABLE HOUSING BONDS PROJECTS
STRATEGIES, THE TRANCHE 2 AFFORDABLE HOUSING INTENT TO REIMBURSE
RESOLUTION, AND THE TRANCHE 2 MIAMI FOREVER AFFORDABLE HOUSING
LIMITED AD VALOREM BONDS; 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, SUBJECT TO ALL FEDERAL,
STATE, AND LOCAL LAWS THAT REGULATE THE USE OF SUCH FUNDS, IN
ORDER TO ALLOCATE THE CITY'S MIAMI FOREVER BOND FUNDING TO THE
PROJECT; PROVIDING FOR AN EFFECTIVE DATE.
Sponsor(s): Commissioner Jeffrey Watson
Notes: Pursuant to the resolution, this item became effective immediately upon adoption by the
Commission.
Links:
Attachments: 9083 Exhibit A (PDF)
9083 Backup (PDF)
History of Legislative File:
Revision: Acting Body: Date: Action: Result:
Victoria Mendez 5/18/2021 Approved Form and Completed
Correctness
City of Miami Page 1 of 2 Printed on: 611512021
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City Commission
City Commission
A Victoria Mendez
A City Clerk's Office
City of Miami
Master Report
Enactment Number: R-21-0209
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
5/27/2021
Meeting
5/27/2021
ADOPTED WITH
MODIFICATION(S)
6/14/2021
Approved Form and
Correctness with Modification(s)
6/14/2021
Rendered
Completed
Passed
Completed
Completed
City of Miami Page 2 of 2 Printed on: 611512021