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Home My WebLink AboutR-02-0009J-02--033 1/4/02 RESOLUTION NO. - 9 A RESOLUTION OF THE MIAMI CITY COMMISSION AUTHORIZING AN EXTENSION OF TIME UNTIL FEBRUARY 28, 2002, FOR KAPUSTIN CORPORATION TO DETERMINE A JOINT PARTNERSHIP AND FILE ALL NECESSARY DOCUMENTS WITH THE FLORIDA DEPARTMENT OF STATE FOR THE REDEVELOPMENT OF AN AFFORDABLE HOUSING CONDOMINIUM PROJECT KNOWN AS FLAGLER FIRST CONDOMINIUM, LOCATED AT 101 EAST FLAGLER STREET, MIAMI, FLORIDA. WHEREAS, Resolution No. 01.1074, adopted October 11, 2001, authorized a grant in the amount of $900,000 to Kapustin Corporation ("Kapustin") and a joint partnership, to be determined in not more than 90 days, for the redevelopment of an affordable housing condominium project know as Fl.agler First Condominium, located at 101 East Flagler Street; and WHEREAS, the City of Miami Commission adopted Motion No. 01-1075 on October 11, 2001, granting Kapustin an additional CITY COVIMISSION' MEETI"IC tT, Yioaaiu�i�n 15Yo. $900,000 from the City of Miami Strategic Initiative Fund for said project; and WHEREAS, Kapustin requests an extension of time until February 28, 2001, to determine a joint partnership and file the necessary documents with the Florida Department of State for the project; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by reference and incorporated as if fully set forth in this Section. Section 2. An extension of time until February 28, 2002, for Kapustin Corporation to determine a joint partnership and file necessary documents with the Florida Department of State for the redevelopment of an affordable housing condominium project known as Flagler first condominium, located at 101 East Flagler Street, Miami, Florida, is authorized. Page 2 of 3 0) .. ��ar Section 3. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.!' PASSED AND ADOPTED this 10th day of January APPROVED AS TO FORM AND CORRECTNESS:% C-OCL/yj ANDRO VI ARELLO ATTORN. Y W5913:tr:LB 2002. ANDEL A. DIAZ, AXOR ly If the Mayor does not sign this Resolution, it shall become effective at the end of ten 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. Page 3 of 3 0 • FLAGLIEER FIRST CONDOMINIUMS A Rok-Kopustlin Joint Venture cfo Kapustin CorporaWn - 25 SE 2r4- Ave. Suite 750 Miami, FL 33131 Tel: 30b-371-90901Fax: 305.371.9292 December 4, 2001 Carmen Sanchez Economic Development Coordinator City of Miami 444 SW 2"Q Avenue, 3". Floof Miami, FL 33130 Mail and Fax 305.416-2156 Re: Flagler First Condominiums Dear Carmen: Confirming our phone conversation earlier today, please accept this letter as our formal request to extend the date by which the partnership must be finalized and documents filed with the Florida Department of State, to February 28,2002. Negotiations and tax considerations are underway, however the upcoming holiday season will be an impediment to complete all of the above timely. We thank you in advance for your consideration. Sincerely, afael Kapustin LT -01-822 9/14/01 L L 1 r Ur?- ; -t RESOLUTION NC. A RESOLUTION OF THE MIA: CITY CQV1-MISSICN RESCINDING. IN ITS ENTIRETY, RESOLUTION NO. 01-767, ADOPTED TJLY 26, 2001, AND SUBSTITUTING IN LIEU THEREOF THE HEREIN RESOLUTION; AUTHORIZING THE CITY MANAGER TO ALLOCATE FUNDS, YN AN AMOUNT NOT TO EXCEED $900,000, AT A DULY ADVERTISED PUBLIC HEARING, AS A GRANT TO KAPUSTIN CORPORA,Ti02q AND A JOINT PARTNERSHIP, TO BE DETERMINED IN NOT MORE THAN 90 DAYS, FOR THE REDEVELOPMENT OF AN AFFORDABLE HOUS--NG CONDOMINIUM PROaECT KZOWN AS FLAGLER FIRST CONDOMINIUM, LOCATED AT 101 EAST F'LAGLER STREET, MIAMI, FLORIDA; CONDITIONING SAID AUTHORIZATION UPON K.4PUSTI1v PROVIDING EVIDENCE OF FIRM FINANCING FOR THE FULL PROJECT AND THE RECEIPT OF A FULL AND COMPLETE APPRAISAL OF THE PROPOSED PROJECT ACCEPTABLE TO THE CITY OF MIAMI; ALLOCATING FUND FROM THE AFFORDABLE HOUSING TRUST FUND ACCOUNT CODE NO. 36701; AUTHORIZING THE CITY MANAGER TO EXECUTE A:uL NECESSARY DOCUMENTS, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, FOR SAID PURPOSE. TREREAS, on July 26, 2001, the City Commis$zvn adopted - Resolution No. 01-767, which authorized a grant, in an amount. not to exceed $900,000, to Kapustin Corporation and a joint partnership, for the redevelo—pyne nt of an affordable housing wondominiu;n project known as Flagler First Condominium, located JUD 17ti 1b1U at 101 East Flagler Street, Miami, Florida, subject to certain conditions; and WHEREAS, Resolution No. 01-757 was adopted without the required public hearing; NOW, THEREPORE, BE IT RESOLVED BY THE COMMISSION OF THF, CITY OF MIAMI, FLORIDA: Section i. That recitals and findings contained in the Preamble to this Resolution are adopted by reference and incorporated as if fully set forth in this Section, section 2. Resolution No. 01-767, adopted. July 26, 2001, is rescinded in its entirety, and the herein Resolution is substituted in lieu thereof. Section 3. At a duly advertised public hearing, the City Manager ie authorized to allocate ,funds, in an amount not to exceed 5500,000, ae a grant to F[a ustin Corporation and a joint partnership, to be determined in not more than 90 days, for the redevelopment of an affordable housing condominium project known: as Flagler First Condominium, located at 101 East Flagler Street, Miami, Florida, with funds allocated from the Affordable Housing Trust Fund Account Code No. 36701. Section 4. This authorization is conditioned upon Qpustin providing evidence of firm financing for the full Project and the receipt of a full and complete appra4sal of the .proposed project acceptable to the City of Miami. G Wage 2 of 3 y I urr I -zz. uaa IQIU r . Lw Sectinn S. Vn6 City Manager is authorizedll to execute all nece5Bar•a documents, in a Eorm. acceptable to the City Attorney, for said purpose. Sec:+on 6. This Resolution shall became effective imediately uron its adoption and signature of the Mayor.? PASSED ;UND ADOPTED tjas _11th day of October 240i. JCB CAROLLO, MAYOR eve- 841N ifnoe the Mayor did not indicate approi d Of' fNi'i f,� c;jz. ien by inih ; wr;I d I ; tovi ed, Said legislation rm .3f zer; (1 d;9,0.f- ATTEST: orn �l o date ofI withoo�'dla Nia,'gr xer SIM to. Clty Cleric WALTER J. FdEMA�7 CITY CLERK APPRO AS T F9160elALND CCRRECTIGESS :�r ji>! J VILARELLO CIT,YrATTORNTRY 5664:HSS The herein authorization is further subject to conpliance with all requirements Lhdt may be imposed by the City Attorney, including but not limited Ca triose preecr:bed by applicable City Charter and Code provi8lo ae. ?? It the Mayor does not sign this Rezolution, it el;all become effewt_ve az the end of tea calendar mays from the date it was passed and adopted. r_ the Mayor vetoes this Pesolution, it shall become effectwve i mmed.iacely upon_ ovarrz.de of the veto by the City Coirmission. Page 3 of 3 i— UGw- 11 -4v -k; I lO' J7 CITY OF MIAMI CITY CLERK'S REPORT MEETING DATE.: October 11, 2001 ITEM 9 A MOTION AUTHORIZING THE USE OF $900,000 FROM THE STRATEGIC INITIATIVE RESERVE FUNDS, SUBSECT TO THE APPROVAL OF STATE FLNA. CL4L OVERSIGHT BOARD, FOR THE AFFORDABLE MARKET HOUSING PROJECT IN THE CORE OF DOWNTOWN Nr1_A11M; FURTHER DIRECTLNG THE CIT%* N ANTAGER TO ALLOCATE AN ,AMOUNT OF $900,000 FROM THE CITY'S STRATEGIC INITIATIVE RESERVES FOR USE IN CONNECTION WITH THE CONDOMINIUM i PROJECT, LOCATED IN THE CORE DOWNTOWN I AREA OF !vffAW. ITEM 5 A A MOTION ACCEPTII,IG THE LIST OF LEGISLATIVE PRIORITIES FOR THE UPCONIING 2002 LEGISLATIVE SESSION AS MORE FULLY OUTLINED IN THEMEMORANDUM FROM THE CIT7f MANAGER TO THE CITY COMMISSION, DATED OCTOBER 1, 2001, WHICH WAS ENTERED INTO THE PUBLIC RECORD ON TRIS SANS DATE. ITEM 5A erection to the City Nanaggr- by Commissioner Regalado to avoid reduction of the Florida Department of Transportation's budget for the Coral Way project (located at Coral Way and Southwest 8"' Street) by inclusion of same in the special legislative agenda scheduled by the Govemor to be held on October 25,2001; Commissioner Sanchez further added that the City of Miami needs to be more proactive in going to Tallahassee and lobbying for the City's legislative priority issues, hath a special sensitivity toward those issues that are capable of passage by the legislature. lu-1 a..o 101iJ MOI -1075 MOVED: SECONDED: ABSENT: M 01-1076 MOVED: SECONDED ABSENT: Page No. 6 r . vim WINTON REGALADO TEELE WINTON REGALADO i TEELE GORT T3TRL F.05 CITY OF MIAMI, FLORIDA * CA=9 INTER -OFFICE MEMORANDUM TO: The Honorable Mayor and Members of the City Commission FROM Carld imenez City Manager DATE: DEC 2 7 2001 FILE: SUBJECT: Resolution Extending Time for Flagler First Condominium REFERENCES: For Commission Meeting of 01/10/02 ENCLOSURES: Proposed Resolution; Resolutions 01-1074 & 01-1075 RECOMMENDATION It is respectfully recommended that the City Commission adopt the attached Resolution extending the time allotted to Kapustin Corporation to determine and File documents with the Florida Department of State for the joint partnership that will redevelop the affordable housing condominium project known as Flagler First Condominium located at 101 East Flagler Street Miami, Florida and establishing a new deadline date of February 28th, 2002. BACKGROUND On October 11th, 2001 the City of Miami Commission adopted Resolution 01-1074 granting $900,000 from the Affordable Housing Trust Fund and through motion 01-1075, an additional $900,000 grant from the Strategic Initiative Fund to "Kapustin Corporation and a Joint Partnership to be determined within 90 days" for the redevelopment of the Flagler First Condominium Project. On December 4th, 2001 Kapustin Corporation notified the City that they would not be able to complete negotiations and determine the partnership within the time allotted. Mr. Kapustin feels confident that the partnership can be finalized and documents filed with the Florida Department of State by February 281h, 2002 and requested the deadline be extended accordingly. CAG ARW/CS x,� e-