HomeMy WebLinkAboutPre-LegislationCity of Miami
tnl6_OF
Legislation
Resolution: R-21-0222
File Number: 9092
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
Final Action Date: 6/10/2021
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), BY A
FOUR -FIFTHS (4/5THS) AFFIRMATIVE VOTE, AFTER AN ADVERTISED PUBLIC
HEARING, RATIFYING, APPROVING, AND CONFIRMING THE CITY MANAGER'S
FINDING, ATTACHED AND INCORPORATED AS EXHIBIT "A," THAT COMPETITIVE
NEGOTIATION METHODS AND PROCEDURES ARE NOT PRACTICABLE OR
ADVANTAGEOUS FOR THE CITY OF MIAMI ("CITY") PURSUANT TO SECTION 18-
86 OF THE CODE OF THE CITY OF MIAMI, FLORIDA, AS AMENDED; WAIVING THE
REQUIREMENTS FOR SAID PROCEDURES; SUBJECT TO THE RECEIPT BY THE
CITY MANAGER OF THE APPROVAL OF THE PROJECT BY THE DEPARTMENT OF
HOUSING AND COMMUNITY DEVELOPMENT AND THE CITY'S HOUSING AND
COMMERCIAL LOAN COMMITTEE (COLLECTIVELY, "HCD/HCLC APPROVALS"),
PROVIDED THAT SUCH APPROVALS ARE CONSISTENT WITH THE CITY
COMMISSION APPROVAL; ALLOCATING FUNDING ON A REIMBURSEMENT BASIS
IN AN AMOUNT NOT TO EXCEED FIVE MILLION DOLLARS ($5,000,000.00) FROM
THE PROPOSED TRANCHE 2 MIAMI FOREVER AFFORDABLE HOUSING LIMITED
AD VALOREM BONDS TO 8TH STREET PROPERTIES, LLC, A FLORIDA LIMITED
LIABILITY COMPANY ("DEVELOPER"), FOR THE AFFORDABLE HOUSING
COMPONENTS OF AN 8-STORY, HIGH RISE MIXED USE COMMERCIAL AND
RESIDENTIAL COMPLEX PROJECT TO BE LOCATED AT 829 SOUTHWEST 8TH
STREET, 845 SOUTHWEST 8TH STREET, AND 847 SOUTHWEST 8TH STREET TO
BE KNOWN AS "ESSENCE MIAMI" ("PROJECT"), PROVIDED THAT THE
DEVELOPER FULFILLS ALL OF THE TERMS AND CONDITIONS TO BE SET FORTH
IN THE HCD/HCLC APPROVALS, WHICH SHALL BE CONSISTENT WITH THE CITY
COMMISSION APPROVAL; SUCH ALLOCATION 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 SEVEN (7) 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 (COLLECTIVELY, "LAWS"); SUBJECT TO
THE RECEIPT BY THE CITY MANAGER OF THE HCD/HCLC APPROVALS;
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 COMPLIANCE WITH ALL LAWS
AND SUBJECT TO THE DEVELOPER FULFILLING ALL OF THE TERMS AND
CONDITIONS TO BE SET FORTH IN THE HCD/HCLC APPROVALS, IN ORDER TO
ALLOCATE THE CITY'S MIAMI FOREVER BOND FUNDING TO THE PROJECT;
PROVIDING FOR AN EFFECTIVE DATE.
SPONSOR(S): Mayor Francis X. Suarez
WHEREAS, the City Commission expects to issue Tranche 2 taxable and tax-
exempt limited ad valorem bonds payable from ad valorem taxes provided that the capital
projects debt millage not exceed the rate of 0.5935 mills in accordance with the November
City of Miami Page 1 of 3 File ID: 9092 (Revision: A) Printed On: 9/8/2021
File ID: 9092
Enactment Number: R-21-0222
7, 2017 bond referendum approved by the voters, initially in an expected not to exceed
total maximum principal amount of Forty Million Dollars ($40,000,000.00), in order to,
among other things, reimburse the City of Miami ("City") for funds advanced by the City for
certain expenses incurred with respect to capital projects to be undertaken by the City to
improve affordable housing within the City's limits (collectively, "Tranche 2 Miami Forever
Affordable Housing Limited Ad Valorem Bonds"), all as indicated in a separate Resolution,
the related City Manager's Memorandum, and the seven (7) Tranche 2 Affordable Housing
Bonds Projects Strategies ("Bonds Strategies") attached and incorporated therein and
thereby (collectively, "Intent to Reimburse Resolution"); and
WHEREAS, the City Commission has previously allocated an amount not to
exceed Seven Million Five Hundred Thousand Dollars ($7,500,000.00) to the development
of the residential complex to be known as "Sawyer's Landing/Block 55" in District 5
pursuant to Resolution Nos. R-21-0047 and R-21-0209 and a total amount not to exceed
Two Million Two Hundred Sixty -Six Thousand Fifty Seven Dollars and Fifty Cents
($2,266,057.50) for the development of single-family affordable housing in District 3
pursuant to Resolution No. R-21-0156; and
WHEREAS, the proposed mixed -use development known as Essence Miami will
be located at 829 Southwest 8th Street, 845 Southwest 8th Street, and 847 Southwest 8th
Street and will provide no less than eighty-eight (88) affordable and/or workforce rental
units in District 3 ("Project"); and
WHEREAS, since the Project has not yet submitted a responsive and responsible
proposal to the City's pipeline affordable housing projects continuing requests for
proposals, the City's Housing and Commercial Loan Committee ("HCLC") has not yet
reviewed the Project nor has the Department of Housing and Community Development
("HCD") reviewed a completed proposal for the Project in order for the Project to receive
an allocation of funds, on a reimbursement basis, and therefore, any City Commission
approval is subject to the approval of the Project by HCD and HCLC (collectively,
"HCD/HCLC Approvals") and the Developer fulfilling, in a timely manner, any and all
terms, requirements, and conditions to be set forth by HCLC in its memoranda and
fulfilling all requirements in order to be in compliance with the Bond Strategies; and
WHEREAS, after the HCD/HCLC Approvals are finalized, the Project will return to
the City Commission for further review and approval in order to solidify the affordability
requirements and restrictions and to address any additional issues that may arise; and
WHEREAS, the Developer has requested and the City Manager has determined in
his memorandum, attached and incorporated as Exhibit "A", that it is in the best interest of
the City to waive competitive bidding and that it is in the best interest of the City to fund, on
a reimbursement basis, an amount not to exceed Five Million Dollars ($5,000,000.00) from
the proposed Tranche 2 Miami Forever Affordable Housing Limited Ad Valorem Bonds
("Bonds") for the affordable housing components of the Project being developed by the
Developer provided that the Developer fulfills any and all of the terms and conditions to be
set forth by the HCD/HCLC Approvals and fulfills all requirements in order to be in
compliance with the Bond Strategies; and
WHEREAS, such allocation shall 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 Bonds Strategies, the Intent to Reimburse Resolution, and
City of Miami Page 2 of 3 File ID: 9092 (Revision: A) Printed on: 91812021
File ID: 9092
Enactment Number: R-21-0222
the Tranche 2 Miami Forever Affordable Housing Limited Ad Valorem Bonds (collectively,
"Laws");
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution
are adopted by reference and incorporated as fully set forth in this Section.
Section 2. By a four -fifths (4/5ths) affirmative vote, after an advertised public
hearing, the City Manager's determinations, finding, and recommendation, attached and
incorporated as Exhibit "A," pursuant to Section 18-86 of the Code of the City of Miami,
Florida, as amended, are ratified, approved, and confirmed and the City Commission
hereby waives the requirements for said procedures.
Section 3. Subject to the receipt by the City Manager of the HCD/HCLC
Approvals, which shall be consistent with the City Commission approval, the City
Commission hereby authorizes' and directs the City Manager to allocate funding on a
reimbursement basis in an amount not to exceed Five Million Dollars ($5,000,000.00) from
the proposed Bonds for the Project being developed by the Developer provided that the
Developer fulfills any and all terms and conditions to be set forth in the HCD/HCLC
Approvals, which shall be consistent with the City Commission approval, and subject to
compliance with all Laws.
Section 4. Subject to the receipt by the City Manager of the HCD/HCLC
Approvals, 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, subject to compliance with all Laws
and subject to the Developer fulfilling all of the terms and conditions to be set forth in the
HCD/HCLC Approvals, in order to allocate the City's Miami Forever Bond funding to the
Project.
Section 5. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND CORRECTNESS:
I
i ria i ndez, ity Httor ey 6/1812021
' 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.
City of Miami Page 3 of 3 File ID: 9092 (Revision: A) Printed on: 91812021
CITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
To: Honorable Mayor and Members
of the City Commission
FROM: Arthur Noriega V.
City Manager
Date: May 27th, 2021
SUBJECT: Declaration of Intent -Miami Forever
Bond Program — Second Tranche of Affordable
Housing Strategies Projects
ENCLOSURES: Attachments
The Miami City Commission expects to issue Tranche 2 taxable and tax-exempt limited ad
valorem bonds payable from ad valorem taxes provided that the capital projects debt millage
not exceed the rate of 0.5935 mills in accordance with the November 7, 2017 bond
referendum approved by the voters, initially in an expected not to exceed total maximum
principal amount of Forty Million Dollars ($40,000,000.00), in order to, among other things,
reimburse the City of Miami ("City") for funds advanced by the City for certain expenses
incurred with respect to capital projects to be undertaken by the City to improve affordable
housing within the City's limits (collectively, "Tranche 2 Miami Forever Affordable Housing
Limited Ad Valorem Bonds"), all as indicated in a separate Resolution, the related City
Manager's Memorandum, and the seven (7) Tranche 2 Affordable Housing Bonds Projects
Strategies ("Bonds Strategies") attached and incorporated therein and thereby (collectively,
"Intent to Reimburse Resolution").
The City Commission has previously allocated an amount not to exceed Seven Million Five
Hundred Thousand Dollars ($7,500,000.00) to the development of the residential complex of
the Project in District 5 pursuant to Resolution No. R-21-0047 and a total amount not to
exceed Two Million Two Hundred Sixty -Six Thousand Fifty Seven Dollars and Fifty Cents
($2,266,057.50) for the development of single-family affordable housing in District 3 pursuant
to Resolution No. R-21-0156.
The proposed mixed -use development, known as Essence Miami, will be located at 829
Southwest 8th Street, 845 Southwest 8th Street, and 847 Southwest 8th Street ("Project")
and it will provide no less than eighty-eight (88) affordable and/or workforce rental units in
District 3.
Since the Project has not yet submitted a responsive and responsible proposal to the City's
pipeline affordable housing projects continuing requests for proposals, the City's Housing
and Commercial Loan Committee ("HCLC") has not yet reviewed the Project nor has the
Department of Housing and Community Development ("HCD") reviewed a completed
proposal for the Project in order for the Project to receive an allocation of funds, on a
reimbursement basis, and therefore, any City Commission approval is subject to the
approval of the Project by HCD and HCLC (collectively, the "HCD/HCLC Approvals") and the
Developer fulfilling, in a timely manner, any and all terms, requirements, and conditions set
forth by HCLC in its memoranda and fulfilling all requirements in order to be in compliance
with the Bond Strategies.
The Developer has requested and the City Manager has determined in his attached
memorandum that it is in the best interest of the City to waive competitive bidding and that it
is in the best interest of the City to fund, on a reimbursement basis, an amount not to exceed
Five Million Dollars ($5,000,000.00) from the proposed Tranche 2 Miami Forever Affordable
Housing Limited Ad Valorem Bonds for the affordable housing components of the Project
being developed by the Developer provided that the Developer fulfills any and all of the
terms and conditions to be set forth by the HCD/HCLC Approvals and fulfills all requirements
in order to be in compliance with the Bond Strategies.
Such allocation shall 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 Bonds Strategies, the Intent to Reimburse Resolution, and the Tranche 2
Miami Forever Affordable Housing Limited Ad Valorem Bonds.
Should you have any questions, please contact George Mensah, Director of the Department of
Housing and Community Development, at 305-416-2080.
Attachments
�F ,,
City of Miami
'NINLegislation
Resolution: R-21-0047
File Number: 8413
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
Final Action Date: 1/28/2021
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING AND DIRECTING THE CITY MANAGER TO ALLOCATE, UPON
THE FULFILLMENT BY BLOCK 55 OWNER, LLC, A FLORIDA LIMITED
LIABILITY COMPANY ("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", FUNDING
ON A REIMBURSEMENT BASIS IN AN AMOUNT NOT TO EXCEED FIVE
MILLION DOLLARS ($5,000,000.00) FROM THE PROPOSED TRANCHE 2
MIAMI FOREVER AFFORDABLE HOUSING LIMITED AD VALOREM BONDS
FOR THE AFFORDABLE HOUSING COMPONENTS OF A 19-STORY, HIGH
RISE MIXED USE COMMERCIAL AND RESIDENTIAL COMPLEX PROJECT
TO BE LOCATED AT 249 NORTH WEST 6TH STREET, TO BE KNOWN AS
"SAWYER'S LANDING OR BLOCK 55", BEING DEVELOPED BY THE
DEVELOPER; SUCH ALLOCATION 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 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;
PROVIDING FOR AN EFFECTIVE DATE.
SPONSOR(S): Commissioner Alex Diaz de la Portilla, Commissioner Joe Carollo,
Commissioner Manolo Reyes, Commissioner Jeffrey Watson
WHEREAS, the Miami City Commission expects to provide for the issuance by the City
of Miami ("City") of its Tranche 2 taxable and tax-exempt limited ad valorem bonds payable from
ad valorem taxes provided that the capital projects debt millage not exceed the rate of 0.5935
mills in accordance with the November 7, 2017 bond referendum approved by the voters,
initially in an expected not to exceed total maximum principal amount of Forty Million Dollars
($40,000,000.00), in order to, among other things, reimburse the City for funds advanced by the
City for certain expenses incurred with respect to capital projects to be undertaken by the City to
improve affordable housing within the City's limits (collectively, "Tranche 2 Miami Forever
Affordable Housing Limited Ad Valorem Bonds"), all as indicated in a separate City Commission
Resolution, the related City Manager's Memorandum, and the seven (7) Tranche 2 Affordable
Housing Bonds Projects Strategies attached and incorporated therein and thereby (collectively,
"Tranche 2 Affordable Housing Bonds Intent to Reimburse Resolution"); and
WHEREAS, the City's Housing and Commercial Loan Committee ("HCLC") has set forth
certain terms and conditions set forth in the attached and incorporated collective Memoranda
during three (collectively, "HCLC Terms and Conditions for Block 55 Project Reimbursement
Basis Funding") for City affordable housing funding, on a reimbursement basis, to be considered
City of Miami Page 1 of 3 File 0: 8413 (Revision:) Printed On: 512712021
File ID: 8413 Enactment Number: R-21-0047
and allocated for specific affordable housing components of a 19-story high mixed use
commercial and residential complex to be located at 249 North West 61h Street and to be known
as "Sawyer's Landing" or "Block 55" to be developed by Block 55 Owner, LLC, a Florida limited
liability company ("Developer"), which project participated in the City's pipeline affordable
housing projects continuing requests for proposals as presented to HCLC; and
WHEREAS, the Developer has requested and the City Commission has determined that
it is in the best interests of the City to authorize and direct the City Manager, upon the fulfillment
by the Developer of all of the terms and conditions set forth in the HCLC Terms and Conditions
for Sawyer's Landing/Block 55 Project Reimbursement Basis Funding, attached and
incorporated in Composite Exhibit "A", to fund, on a reimbursement basis, an amount not to
exceed Five Million Dollars ($5,000.000.00) from the proposed Tranche 2 Miami Forever
Affordable Housing Limited Ad Valorem Bonds for the affordable housing components of the
Sawyer's Landing/Block 55 Project being developed by the Developer; and
WHEREAS, such allocation shall 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 Tranche 2 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;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY
MIAMI, FLORIDA:
Section 1. Recitals and Findings. The recitals and findings contained in the Preamble to
this Resolution are adopted by reference and incorporated as fully set forth in this Section.
Section 2. The City Commission hereby authorizes' and directs the City Manager to
allocate, upon the fulfillment by the Developer of all terms and conditions of the HCLC Terms
and Conditions Sawyer's Landing/Block 55 Project Reimbursement Basis Funding, funding on a
reimbursement basis in an amount not to exceed Five Million Dollars ($5,000,000.00) from the
proposed Tranche 2 Miami Forever Affordable Housing Limited Ad Valorem Bonds for the
Sawyer's Landing/Block 55 Project being developed by Developer, subject to compliance with
all applicable Federal, State, local, and City laws, rules, and regulations for affordable housing
projects, including but not limited to, the City's Tranche 2 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.
Section 3. Effective Date. This Resolution shall take effect immediately upon its
adoption and signature of the Mayor.2
' The herein authorization is further subject to compliance with all legal requirements that may be
imposed, including but not limited to, those prescribed by City Charter and City Code provisions.
2 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.
City of Miami Page 2 of 3 File ID: 8413 (Revision:) Printed on: 5/27/2021
File ID: 8413 Enactment Number: R-21-0047
APPROVED AS TO FORM AND CORRECTNESS:
t
ria ndez, Cify ttor ey 1/19/2021
City of Miami Page 3 of 3 File ID: 8413 (Revision:) Printed on: 5/27/2021
City of Miami
City Hall
'y 3500 Pan American Drive
- Legislation Miami, FL 33133
www.miamigov.com
` Resolution: R-21-0156
File Number: 8870 Final Action Date: 4/8/2021
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING AND DIRECTING THE CITY MANAGER TO ALLOCATE FROM
THE TRANCHE 2 AFFORDABLE HOUSING CATEGORY, IN ACCORDANCE
WITH (A) THE NOVEMBER 7, 2017 VOTER REFERENDUM FOR THE CITY
OF MIAMI ("CITY") FOREVER LIMITED AD VALOREM BONDS ("VOTER
REFERENDUM"), (B) THE FINAL BOND VALIDATION ORDER DATED
DECEMBER 16, 2019 ("BONDS VALIDATION ORDER"), AND (C) THE CITY
COMMISSION'S UPDATED SEVEN (7) AFFORDABLE HOUSING BONDS
PROJECTS STRATEGIES AND THE TRANCHE 2 AFFORDABLE HOUSING
BONDS INTENT TO REIMBURSE RESOLUTION NO. R-21-0046 ADOPTED
JANUARY 28, 2021, ALL ATTACHED AND INCORPORATED AS COMPOSITE
EXHIBIT "A", FUNDING ON A REIMBURSEMENT BASIS IN AN AMOUNT NOT
TO EXCEED TWO MILLION TWO HUNDRED SIXTY SIX THOUSAND FIFTY
SEVEN AND 50/100 DOLLARS ($2,266,057.50) FROM THE PROPOSED
TRANCHE 2 MIAMI FOREVER AFFORDABLE HOUSING LIMITED AD
VALOREM BONDS FOR THE AFFORDABLE HOUSING COMPONENTS OF
SINGLE FAMILY HOUSING PROJECTS FOR LOW AND/OR MODERATE
INCOME PERSONS/FAMILIES TO BE LOCATED WITHIN THE CITY'S
DISTRICT 3 AT 1251 SOUTHWEST 7 STREET (FOLIO NO. 01-4102-011-
0370), 1261 SOUTHWEST 7 STREET (FOLIO NO. 01-4102-011-0361), 1269
SOUTHWEST 7 STREET (FOLIO NO. 01-4102-011-0360), AND 643
SOUTHWEST 13 AVENUE (FOLIO NO. 01-4102-011-0340), MIAMI, FLORIDA
AND AS LEGALLY DESCRIBED IN THE EXHIBIT "B," ATTACHED AND
INCORPORATED (COLLECTIVELY, "DISTRICT 3 SINGLE-FAMILY
PROJECTS"), TO BE DEVELOPED BY THE CITY AS THE DEVELOPER;
SUCH ALLOCATION 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 AFFORDABLE HOUSING BONDS PROJECTS
STRATEGIES, THE TRANCHE 2 AFFORDABLE HOUSING INTENT TO
REIMBURSE RESOLUTION, THE VOTER REFERENDUM, THE BONDS
VALIDATION ORDER, THE TRANCHE 2 MIAMI FOREVER AFFORDABLE
HOUSING LIMITED AD VALOREM BONDS, THE CHARTER OF THE CITY OF
MIAMI, FLORIDA, AS AMENDED, AND THE CODE OF THE CITY OF MIAMI,
FLORIDA, AS AMENDED; DESIGNATING AN EMERGENCY NATURE;
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the City Commission expects to provide for the issuance by the City of
Miami ("City") of its Tranche 2 taxable and tax-exempt limited ad valorem bonds payable from
ad valorem taxes provided that the capital projects debt millage not exceed the rate of 0.5935
mills in accordance with the November 7, 2017 bond referendum approved by the voters ("Voter
Referendum"), initially in an expected not to exceed total maximum principal amount of Forty
Million Dollars ($40,000,000.00), in order to, among other things, reimburse the City for funds
advanced by the City for certain expenses incurred with respect to capital projects to be
City of Miami Page 1 of 3 File ID: 8870 (Revision:) Printed On: 512712021
File ID: 8870 Enactment Number: R-21-0156
undertaken by the City to improve affordable housing within the City's limits (collectively,
"Tranche 2 Miami Forever Affordable Housing Limited Ad Valorem Bonds"), all as indicated in a
Resolution No. R-21-0046 adopted January 28, 2021, the related City Manager's Memorandum
thereto, and the seven (7) Tranche 2 Affordable Housing Bonds Projects Strategies attached
and incorporated therein (collectively, "Tranche 2 Affordable Housing Bonds Intent to
Reimburse Resolution"); and
WHEREAS, the City's District 3 has previously purchased on February 27, 2019 with
funding from District 3 Park Impact Fees authorized by City Commission Resolution No. R-18-
0487 adopted October 25, 2018 four (4) properties located at 1251 Southwest 7 Street (Folio
No. 01-4102-011-0370), 1261 Southwest 7 Street (Folio No. 01-4102-011-0361), 1269
Southwest 7 Street (Folio No. 01-4102-011-0360), and 643 Southwest 13 Avenue (Folio No. 01-
4102-011-0340), all as legally described in Exhibit "B" attached and incorporated (collectively,
"Properties"), for a total cost of two million two hundred sixty six thousand fifty seven and 50/100
dollars ($2,266,057.50) inclusive of the purchase price and associated acquisition costs sourced
from the Office of Capital Improvement ("OCI") Project No. 40-13183415, District 3 Park Land
Acquisition, and further broken down as follows:
Purchase Price: $ 2,255,000.00
Closing Costs: $ 11,057.50
TOTAL, $ 2,266,057.50
WHEREAS, the District 3 Commission is requesting the Properties be utilized for
affordable housing which is in the best interests of the City due to the ongoing dire need for
affordable housing and to provide authorization to fund, on a reimbursement basis, an amount
not to exceed two million two hundred sixty six thousand fifty seven and 50/100 dollars
($2,266,057.50) from the proposed Tranche 2 Miami Forever Affordable Housing Limited Ad
Valorem Bonds for the affordable housing components for single family projects for
persons/families of low and/or moderate income of the City to be developed by the City as
Developer (collectively, "District 3 Single Family Projects"); and
WHEREAS, the District 3 Commissioner has requested and the City Commission has
determined that it is in the best interests of the City to authorize and direct the City Manager, in
accordance with the Voter Referendum, the Miami Forever Limited Ad Valorem Bonds Final
Validation Order of December 16, 2019 ("Bonds Validation Order"), the City's Affordable
Housing Bonds Projects Strategies, and the Tranche 2 Affordable Housing Bonds Intent to
Reimburse Resolution, all attached and incorporated in Composite Exhibit "A", to fund, on a
reimbursement basis, an amount not to exceed two million two hundred sixty six thousand fifty
seven and 50/100 dollars ($2,266,057.50) from the proposed Tranche 2 Miami Forever
Affordable Housing Limited Ad Valorem Bonds for the affordable housing components of the
District 3 Single Family Projects to be developed by the City as the Developer; and
WHEREAS, such allocation shall 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 Tranche 2 Affordable Housing Bonds Projects Strategies,
the Tranche 2 Affordable Housing Intent to Reimburse Resolution, the Voter Referendum, the
Bonds Validation Order, the Tranche 2 Miami Forever Affordable Housing Limited Ad Valorem
Bonds, the Charter of the City of Miami, Florida, as amended ("City Charter"), and the Code of
the City of Miami, Florida, as amended ("City Code"); and
WHEREAS, in accordance with Section 2-33(f) of the City Code, the City Commission,
by a majority vote, hereby deems this Resolution to be of an emergency nature;
City of Miami Page 2 of 3 File ID: 8870 (Revision:) Printed on: 512712021
File ID: 8870 Enactment Number: R-21-0156
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY
MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are
adopted by reference and incorporated as fully set forth in this Section.
Section 2. The City Commission hereby authorizes' and directs the City Manager to
allocate from the Tranche 2 Affordable Housing category funding on a reimbursement basis in
an amount not to exceed two million two hundred sixty six thousand fifty seven and 50/100
dollars ($2,266,057.50) from the proposed Tranche 2 Miami Forever Affordable Housing Limited
Ad Valorem Bonds for the affordable housing components of the single family housing projects
for low and/or moderate income persons/families to be located at the Properties, as legally
described in the Exhibit "B", attached and incorporated, to be developed by the City as the
Developer, with such allocation to be in compliance with all applicable Federal, 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 the Voter Referendum, the Bonds Validation Order, the Tranche 2 Miami
Forever Affordable Housing Limited Ad Valorem Bonds, the City Charter, and the City Code.
Section 3. This Resolution shall take effect immediately upon its adoption and signature
of the Mayor.2
APPROVED AS TO FORM AND CORRECTNESS
i ria dez, ity ktorpey 4/20/2021
' The herein authorization is further subject to compliance with all legal requirements that may be
imposed, including but not limited to, those prescribed by City Charter and City Code provisions.
2 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.
City of Miami Page 3 of 3 File /D: 8870 (Revision:) Printed on: 512712021
City of Miami
;>0 OF,
f
City Hall
Legislation
3500 Pan American Drive
Miami, FL33133
7111,
_
www.miamigov.com
`° R', Resolution:
File Number: 9092
Final Action Date:
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENTS,
BY A FOUR -FIFTHS (4/5THS) AFFIRMATIVE VOTE, AFTER AN ADVERTISED
PUBLIC HEARING, RATIFYING, APPROVING, AND CONFIRMING THE CITY
MANAGER'S FINDING, ATTACHED AND INCORPORATED AS EXHIBIT "A,"
THAT COMPETITIVE NEGOTIATION METHODS AND PROCEDURES ARE
NOT PRACTICABLE OR ADVANTAGEOUS FOR THE CITY OF MIAMI ("CITY")
PURSUANT TO SECTION 18-86 OF THE CODE OF THE CITY OF MIAMI,
FLORIDA, AS AMENDED ("CITY CODE"); WAIVING THE REQUIREMENTS
FOR SAID PROCEDURES; SUBJECT TO THE RECEIPT BY THE CITY
MANAGER OF THE APPROVAL OF THE PROJECT, AS DEFINED BELOW, BY
THE DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
("HCD") AND THE CITY'S HOUSING AND COMMERCIAL LOAN COMMITTEE
("HCLC") (COLLECTIVELY, "HCD/HCLC APPROVALS"), ALLOCATING
FUNDING ON A REIMBURSEMENT BASIS IN AN AMOUNT NOT TO EXCEED
FIVE MILLION DOLLARS ($5,000,000.00) FROM THE PROPOSED TRANCHE
2 MIAMI FOREVER AFFORDABLE HOUSING LIMITED AD VALOREM BONDS
TO 8TH STREET PROPERTIES, LLC, A FLORIDA LIMITED LIABILITY
COMPANY ("DEVELOPER"), FOR THE AFFORDABLE HOUSING
COMPONENTS OF AN 8-STORY, HIGH RISE MIXED USE COMMERCIAL
AND RESIDENTIAL COMPLEX PROJECT TO BE LOCATED AT 829 SOUTH
WEST 8TH STREET, 845 SOUTH WEST 8TH STREET, AND 847 SOUTH
WEST 8TH STREET TO BE KNOWN AS "ESSENCE MIAMI" ("PROJECT"),
BEING DEVELOPED BY THE DEVELOPER, PROVIDED THAT DEVELOPER
FULFILLS ALL OF THE TERMS AND CONDITIONS SET FORTH IN THE
HCD/HCLC APPROVALS; 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 SEVEN (7)
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; SUBJECT TO THE RECEIPT BY THE CITY MANAGER OF
THE HCD/HCLC APPROVALS, 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 COMPLIANCE WITH ALL APPLICABLE
FEDERAL, STATE, LOCAL, AND CITY LAWS, RULES, AND REGULATIONS
FOR AFFORDABLE HOUSING PROJECTS, INCLUDING BUT NOT LIMITED
TO, THE BONDS STRATEGIES, THE INTENT TO REIMBURSE RESOLUTION,
AND THE TRANCHE 2 MIAMI FOREVER AFFORDABLE HOUSING LIMITED
City of Miami Page 1 of 3 File ID: 9092 (Revision:) Printed On: 512612021
File ID: 9092 Enactment Number•
AD VALOREM BONDS, AND SUBJECT TO THE DEVELOPER FULFILLING
ALL OF THE TERMS AND CONDITIONS SET FORTH IN THE HCD/HCLC
APPROVALS, IN ORDER TO ALLOCATE THE CITY'S MIAMI FOREVER BOND
FUNDING TO THE PROJECT; PROVIDING FOR AN EFFECTIVE DATE.
SPONSOR(S): Mayor Francis X. Suarez
WHEREAS, the Miami City Commission expects to issue Tranche 2 taxable and
tax-exempt limited ad valorem bonds payable from ad valorem taxes provided that the
capital projects debt millage not exceed the rate of 0.5935 mills in accordance with the
November 7, 2017 bond referendum approved by the voters, initially in an expected not to
exceed total maximum principal amount of Forty Million Dollars ($40,000,000.00), in order
to, among other things, reimburse the City of Miami ("City") for funds advanced by the City
for certain expenses incurred with respect to capital projects to be undertaken by the City
to improve affordable housing within the City's limits (collectively, "Tranche 2 Miami
Forever Affordable Housing Limited Ad Valorem Bonds"), all as indicated in a separate
Resolution, the related City Manager's Memorandum, and the seven (7) Tranche 2
Affordable Housing Bonds Projects Strategies ("Bonds Strategies") attached and
incorporated therein and thereby (collectively, "Intent to Reimburse Resolution"); and
WHEREAS, the City Commission has previously allocated an amount not to
exceed Seven Million Five Hundred Thousand Dollars ($7,500,000.00) to the development
of the residential complex of the Project in District 5 pursuant to Resolution No. R-21-0047
and a total amount not to exceed Two Million Two Hundred Sixty -Six Thousand Fifty
Seven Dollars and Fifty Cents ($2,266,057.50) for the development of single-family
affordable housing in District 3 pursuant to Resolution No. R-21-0156; and
WHEREAS, the proposed mixed -use development, known as Essence Miami, will
be located at 829 Southwest 8th Street, 845 Southwest 8th Street, and 847 Southwest 8th
Street ("Project") and it will provide no less than eighty-eight (88) affordable and/or
workforce rental units in District 3; and
WHEREAS, since the Project has not yet submitted a responsive and responsible
proposal to the City's pipeline affordable housing projects continuing requests for
proposals, the City's Housing and Commercial Loan Committee ("HCLC") has not yet
reviewed the Project nor has the Department of Housing and Community Development
("HCD") reviewed a completed proposal for the Project in order for the Project to receive
an allocation of funds, on a reimbursement basis, and therefore, any City Commission
approval is subject to the approval of the Project by HCD and HCLC (collectively, the
"HCD/HCLC Approvals") and the Developer fulfilling, in a timely manner, any and all
terms, requirements, and conditions set forth by HCLC in its memoranda and fulfilling all
requirements in order to be in compliance with the Bond Strategies; and
WHEREAS, the Developer has requested and the City Manager has determined in
his attached memorandum that it is in the best interest of the City to waive competitive
bidding and that it is in the best interest of the City to fund, on a reimbursement basis, an
amount not to exceed Five Million Dollars ($5,000,000.00) from the proposed Tranche 2
Miami Forever Affordable Housing Limited Ad Valorem Bonds for the affordable housing
components of the Project being developed by the Developer provided that the Developer
fulfills any and all of the terms and conditions to be set forth by the HCD/HCLC Approvals
and fulfills all requirements in order to be in compliance with the Bond Strategies; and
City of Miami Page 2 of 3 File ID: 9092 (Revision:) Printed on: 512612021
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WHEREAS, such allocation shall 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 Bonds Strategies, the Intent to Reimburse
Resolution, and the Tranche 2 Miami Forever Affordable Housing Limited Ad Valorem
Bonds;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution
are adopted by reference and incorporated as fully set forth in this Section.
Section 2. By a four -fifths (4/5ths) affirmative vote, after an advertised public
hearing, the City Manager's determinations, finding, and recommendation, attached and
incorporated as Exhibit "A," pursuant to Section 18-86 of the Code of the City of Miami,
Florida, as amended, are ratified, approved, and confirmed and the City Commission
hereby waives the requirements for said procedures.
Section 3. Subject to the receipt by the City Manager of the HCD/HCLC
Approvals, the City Commission hereby authorizes' and directs the City Manager to
allocate funding on a reimbursement basis in an amount not to exceed Five Million Dollars
($5,000,000.00) from the proposed Tranche 2 Miami Forever Affordable Housing Limited
Ad Valorem Bonds for the Project being developed by Developer provided that the
Developer fulfills any and all terms and conditions to be set forth in the HCD/HCLC
Approvals and subject to compliance with all applicable Federal, State, local, and City
laws, rules, and regulations for affordable housing projects, including but not limited to, the
Bonds Strategies, the Intent to Reimburse Resolution, and the Tranche 2 Miami Forever
Affordable Housing Limited Ad Valorem Bonds.
Section 4. Subject to the receipt by the City Manager of the HCD/HCLC Approvals,
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, subject to compliance with all applicable Federal,
State, local, and City laws, rules, and regulations for affordable housing projects, including
but not limited to, the Bonds Strategies, the Intent to Reimburse Resolution, and the
Tranche 2 Miami Forever Affordable Housing Limited Ad Valorem Bonds, and subject to
the Developer fulfilling all of the terms and conditions to be set forth in the HCD/HCLC
Approvals, in order to allocate the City's Miami Forever Bond Funding to the Project.
Section 5. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND CORRECTNESS:
' 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.
City of Miami Page 3 of 3 File ID: 9092 (Revision:) Printed on: 5/26/2021