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~ Master Report
File Number: 12936
Revision:
Enactment Number: R-22-0456
File Type: Resolution
File Name: Rescind Resolution - R-22-0420 - Stadium Towers
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
Status: ADOPTED
Controlling Body: City Commission
Introduced: 11 /7/2022
Requesting Dept: Commissioners and Mayor Final Action Date: 11/17/2022
Title: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
RESCINDING RESOLUTION NO. R-22-0420 ADOPTED BY THE MIAMI CITY
COMMISSION ON OCTOBER 27, 2022 AND REPLACING IN LIEU THEREOF WITH A
RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING A LOAN IN AN AMOUNT NOT TO EXCEED ONE MILLION EIGHT
HUNDRED THOUSAND DOLLARS ($1,800,000.00) IN AMERICAN RESCUE PLAN
ACT OF 2021 ("ARPA") FUNDS ("ARPA FUNDS") TO STADIUM TOWER
APARTMENTS LLC, A FLORIDA LIMITED LIABILITY COMPANY ("DEVELOPER"), TO
CONSTRUCT A NEW AFFORDABLE HOUSING DEVELOPMENT THAT WILL
CONTAIN NO FEWER THAN SIXTY (60) CITY OF MIAMI-ASSISTED RESIDENTIAL
RENTAL UNITS FOR ELIGIBLE RESIDENTS WHOSE ANNUAL INCOME IS EQUAL TO
OR LESS THAN SEVENTY PERCENT (70%) OF AREA MEDIAN INCOME, AS
PUBLISHED ANNUALLY BY THE UNITED STATES DEPARTMENT OF HOUSING AND
URBAN DEVELOPMENT, TO BE KNOWN AS STADIUM TOWER APARTMENTS
LOCATED AT APPROXIMATELY THE NORTHWEST CORNER OF NORTHWEST 23
STREET AND NORTHWEST 8 AVENUE IN MIAMI, FLORIDA, AS MORE
PARTICULARLY DESCRIBED IN EXHIBIT "A", ATTACHED AND INCORPORATED
("PROJECT"), WHERE DISBURSEMENT OF THE ARPA FUNDS IS SUBJECT TO THE
RECEIPT BY THE CITY MANAGER OF THE WRITTEN APPROVAL OF THE LOAN BY
THE CITY'S HOUSING AND COMMERCIAL LOAN COMMITTEE ("HCLC APPROVAL"),
AND SUBJECT TO THE RECEIPT BY THE CITY MANAGER OF THE WRITTEN
APPROVAL OF THE LOAN BY THE CITY'S ARPA CONSULTANT, OR ITS
SUCCESSOR ("CONSULTANT APPROVAL"), AND SUBJECT TO THE TERMS,
CONDITIONS, AND RESTRICTIONS CONTAINED HEREIN, IN THE HCLC
APPROVAL, AND IN THE CONSULTANT APPROVAL; 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, FOR SAID PURPOSE;
PROVIDING FOR AN EFFECTIVE DATE.
Sponsor(s): Commissioner Alex Diaz de la Portilla
Notes: Pursuant to the resolution, this item became effective immediately upon adoption by the
Commission.
Links:
Attachments: 12936 Exhibit A (PDF)
History of Legislative File:
Revision: Acting Body: Date: Action: Result:
Victoria M6ndez 11/7/2022 Approved Form and Completed
City of Miami Page 1 of 2 Printed on: 121712022
CON, 01-411
City of Miami
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Master Report
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Enactment Number: R-22-0456
Correctness
City Commission
11/17/2022 Meeting
City Commission
11/17/2022 ADOPTED
City Clerk's Office
11/18/2022 Rendered
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
Completed
Passed
Completed
City of Miami Page 2 of 2 Printed on: 121712022