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HomeMy WebLinkAboutMaster ReportCity of Miami ~ Master Report File Number: 9115 Revision: Enactment Number: R-21-0229 File Type: Resolution File Name: Affordable Housing Land Acquisition - 5215 W Flagler Street Requesting Dept: Commissioners and Mayor City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com Status: ADOPTED Controlling Body: City Commission Introduced: 5/24/2021 Final Action Date: 6/10/2021 Title: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENTS, ALLOCATING FROM THE TRANCHE 2 AFFORDABLE HOUSING CATEGORY OF THE MIAMI FOREVER LIMITED AD VALOREM BONDS ("BONDS"), IN ACCORDANCE WITH (A) THE NOVEMBER 7, 2017 VOTER REFERENDUM FOR THE CITY OF MIAMI ("CITY") BONDS (`VOTER REFERENDUM"), (B) THE FINAL BOND VALIDATION ORDER DATED DECEMBER 16, 2019 (`BONDS VALIDATION ORDER"), (C) THE CITY COMMISSION'S UPDATED SEVEN (7) AFFORDABLE HOUSING BONDS PROJECTS STRATEGIES (`BOND STRATEGIES"), AND (D) THE TRANCHE 2 AFFORDABLE HOUSING BONDS INTENT TO REIMBURSE RESOLUTION NO. R-21-0046 ADOPTED JANUARY 28, 2021 (`INTENT TO REIMBURSE RESOLUTION"), ALL ATTACHED AND INCORPORATED AS COMPOSITE EXHIBIT "A," FUNDING ON A REIMBURSEMENT BASIS IN AN AMOUNT NOT TO EXCEED ONE MILLION FIVE HUNDRED FIVE THOUSAND DOLLARS ($1,505,000.00) TO COVER ALL ELIGIBLE COSTS OF THE ACQUISITION OF THE PROPERTY LOCATED AT 5215 WEST FLAGLER STREET, MIAMI, FLORIDA (FOLIO NO. 01-4106-030-0020) IN DISTRICT 4 AND AS LEGALLY DESCRIBED IN EXHIBIT "C", ATTACHED AND INCORPORATED, INCLUSIVE OF THE PURCHASE PRICE AND ACQUISITION COSTS, FROM THE BONDS THROUGH THE BOND STRATEGIES' CITY ACQUISITION OF LAND STRATEGY, ATTACHED AND INCORPORATED AS EXHIBIT "B" (`ACQUISITION STRATEGY"), WHICH IS TO BE DEVELOPED INTO MIXED USE/MIXED INCOME AFFORDABLE RENTAL OR HOMEOWNERSHIP DEVELOPMENTS/UNITS TO BE BUILT BY THE CITY OR BY ORGANIZATIONS THAT HAVE BEEN PROCURED THROUGH A COMPETITIVE SOLICITATION PROCESS; SUCH ALLOCATION IS TO BE IN COMPLIANCE WITH ALL APPLICABLE FEDERAL, STATE OF FLORIDA, LOCAL, AND CITY LAWS, RULES, AND REGULATIONS FOR AFFORDABLE HOUSING PROJECTS, INCLUDING BUT NOT LIMITED TO THE CITY'S BOND STRATEGIES, THE INTENT TO REIMBURSE RESOLUTION, THE VOTER REFERENDUM, THE BONDS VALIDATION ORDER, THE BONDS, THE CHARTER OF THE CITY OF MIAMI, FLORIDA, AS AMENDED, AND THE CODE OF THE CITY OF MIAMI, FLORIDA, AS AMENDED (COLLECTIVELY, "LAWS"); FURTHER AUTHORIZING AND DIRECTING THE CITY MANAGER TO NEGOTIATE AND EXECUTE A PURCHASE AND SALE AGREEMENT ("AGREEMENT") AND ANY AND ALL OTHER NECESSARY DOCUMENTS INCLUDING BUT NOT LIMITED TO ANY AMENDMENTS, ALL IN FORMS ACCEPTABLE TO THE CITY ATTORNEY AND BOND COUNSEL, FOR THE ACQUISITION OF THE PROPERTY FOR A PURCHASE PRICE OF ONE MILLION FOUR HUNDRED SEVENTY FIVE THOUSAND DOLLARS ($1,475,000.00) (`PURCHASE PRICE"), SUBJECT TO ALL LAWS THAT REGULATE THE USE OF SUCH FUNDS; FURTHER AUTHORIZING THE PAYMENT OF THE COST OF SURVEY, ENVIRONMENTAL REPORTS, TITLE INSURANCE, SECURING THE PROPERTY, PROJECT SIGNAGE, AND ALL EXPENSES AND CLOSING COSTS ASSOCIATED WITH THIS ACQUISITION IN AN AMOUNT NOT TO EXCEED THIRTY THOUSAND DOLLARS ($30,000.00) (`ACQUISITION COSTS"), SUBJECT TO ALL LAWS THAT REGULATE THE USE OF SUCH FUNDS; PROVIDING FOR AN EFFECTIVE DATE. City of Miami Page 1 of 2 Printed on: 6/23/2021 CON Op City of Miami City Hall 3500 Pan American Drive Miami, FL 33133 www.miamig ov.com Master Report s ov.com .C�I. Enactment Number: R-21-0229 Sponsor(s): Commissioner Manolo Reyes Notes: Pursuant to the resolution, this item became effective immediately upon adoption by the Commission. Links: Attachments: 9115 Exhibit A (PDF) 9115 Exhibit B (PDF) 9115 Exhibit C (PDF) 9115 Back -Up Documents (PDF) History of Legislative File: Revision: Acting Body: Date: Action: Result: Victoria Mendez 6/1/2021 Approved Form and Completed Correctness City Commission 6/10/2021 Meeting Completed City Commission 6/10/2021 ADOPTED Passed City Clerk's Office 6/11/2021 Rendered Completed City of Miami Page 2 of 2 Printed on: 6/23/2021