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HomeMy WebLinkAboutSubmittal-Iris Escarra-Voluntary CovenantSubmitted into the public record for items) f&I on 2D21 City Clerk HTG July 8, 2021 Mayor and Commissioners Re; Agenda Item PZ.1]Rezoning of PZ 20-7953 rainbow Village Dear Sirs: In connection with the rezoning of the Rainbow Village and Gwen Cherry 23 public housing sites, currently owned by Miami -Dade County Public Housing and Community Development {PHCD and as the Leasee, we would like to make sure that our commitment to develop affordable housing in the City of Miami is provided to you. • Housing Trust Group was competitively selected to redevelop the properties through the RAD program; The existing 10.39-acre site is currently zoned T4, which allows for 36 units per acre for a total of 374 units. The zoning change to TS for the subject site will allow for 65 units per acre for a total of 708 units on the site. • Therefore, the rezoning of the property would yield an additional 334 units. • There are 136 public housing units currently on the site, of which approximately 119 units are occupied. The redevelopment of this site in partnership with Miami -Dade PHCD is being done through HUD's Rental Assistance Demonstration (RAD) program, which allows for the conversion of these 136 public housing units to RAFT units. The RAD program requires the one - for -one replacement of current public housing units through this development, and provides the current residents with the following RAD Resident rights and protections: © The resident's rent contribution will be calculated the same in the RAD program as it is now under the Public Housing program, which means that no more than 30% of a household's adjusted gross income is the resident payment. For example, if your household's adjusted monthly income is $700, 30% of that will be your total monthly payment of $210. The current residents' incomes range from 0% to 80% of the area median income (AMI) per HUD regulations., however, the majority of the residents' incomes are below 30% of the area median income. o One for one replacement of public housing units is required through RAD. For every Public Housing unit impacted by a redevelopment project, there will be a replacement RAD unit of the right size for the family. o All current residents at these public housing units are provided a guaranteed right to be the first to move into these new units; HOUSING TRUST GROUP 3225 Aviation AveJKJSnue, 61h Floor • Coconut Grove, FL 33133.305-860-8188 www. htgf.com 04 S(j b"n I H�, Submitted into the public record for item (s)P2- I on 21) 21 City Clerk o All moving and any temporary relocation costs, if needed, are covered by PHCD and the developer; o No resident recertification is required upon move -in to the new units; o Grievance processes are preserved for the public housing/ RAD residents; • On Wednesday, July 7, 2021, we obtained a portion of the funding for Phase 1 from the Florida Housing Finance Corporation. Phase 1 of the development will contain 299 units of which 82 units will be RAD/Public Housing units (82 of the existing 136 public housing units). The income restrictions for this phase of the development are as follows: # Of units % AMI 45 15% 30% 29 10% 50% 61 20% 60% 164 55% 70%-80% 299 100% • Funding for the remaining 409 units has yet to be identified, however, we can commit and confirm the following: o 54 of the units will be RAD/ Public Housing units (the remaining 54 units of the existing 136 public housing units). o 20% of units will be rented to households with incomes at or below 50% AMI or 40% units at or below 60%AML ■ Lastly, we are committed to providing even more units for extremely low-income households if we are successful in obtaining additional funding from the City of Miami. RAINBOW REDEVELOPMENT, LLC, a Florida limited liability company By: Mat he a ,Manager