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HomeMy WebLinkAboutR-02-0782J-02-640 B 7-8-02 0191w— 782 RESOLUTION NO. A RESOLUTION OF THE CITY OF MIAMI COMMISSION ACCEPTING THE RECOMMENDATION OF THE CITY MANAGER TO JOINTLY SUBMIT A BROWNSFIELD ECONOMIC DEVELOPMENT INITIATIVE (BEDI) GRANT APPLICATION WITH WAGNER SQUARE, LLC, A JOINT VENTURE CONSISTING OF ATWATER CAPITAL GROUP, INC., THE URBAN DEVELOPMENT GROUP, AND REDEVCO, THE FIRMS THAT SUBMITTED THE TWO HIGHEST RANKING PROPOSALS IN RESPONSE TO THE REQUEST FOR LETTERS OF INTEREST FOR DEVELOPMENT OF A MIXED INCOME, HOME OWNERSHIP DEVELOPMENT TO INCLUDE AN AFFORDABLE HOUSING COMPONENT ON APPROXIMATELY 2.7 ACRES LOCATED BETWEEN NORTHWEST 17TH AND 18TH STREETS AND NORTHWEST 14TH AND 15TH AVENUES, MIAMI, FLORIDA; APPROVING, IN PRINCIPLE, THE FUTURE CDBG ALLOCATION OF A $4,000,000 SECTION 108 LOAN FROM THE US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (US HUD) FOR PURPOSES OF SAID APPLICATION; FURTHER DIRECTING THE CITY MANAGER TO COME BACK TO THE CITY COMMISSION WITH A RECOMMENDATION AT THE CITY COMMISSION MEETING OF JULY 25, 2002; AND AUTHORIZING THE CITY ATTORNEY TO ENGAGE COUNSEL TO ASSIST WITH FINALIZING DEVELOPMENT OF A RECOMMENDATION, IN AN AMOUNT NOT TO EXCEED $25,000, ALLOCATING FUNDS FROM ACCOUNT CODE NO. 001000.920205.6.250. WHEREAS, following prior directives of the City Commission, the City issued a Request for Letters of Interest on June 17, 2002, seeking a qualified firm to develop a mixed income, home ownership development to include an affordable housing development on approximately 2.7 acres located between N.W 17th and 18th Streets and N.W. 14th and 15th Avenues; and Jtt l_ - Q 2002 ReGobdWW NO. 02- 782 WHEREAS, the City received four submittals by the advertised deadline of Monday, June 24, 2002, at 10:00 a.m., that of 1) Atwater Capital Group, Inc., 2) Greater Miami Neighborhoods, Inc., 3) The Gatehouse Companies, and 4) the Urban Development Group; and WHEREAS, a selection committee appointed by the City Manager evaluated proposals and ranked the firms in the following order: 1) Atwater Capital Group, Inc, 2) The Urban Development Group, 3) Greater Miami Neighborhoods, and 4) the Gatehouse Companies; and WHEREAS, on June 27th, 2002, the City Commission directed the City Manager to negotiate an agreement with the two highest ranked firms and present the business terms to the Commission on July 81h, 2002; and WHEREAS, the two highest ranked firms partnered to form a limited liability company (LLC) comprised of Atwater Capital Group, Inc., The Urban Development Group, and Redevco (a member of The Urban Development Group) as members of the Wagner Square, LLC; and WHEREAS, the City Commission has determined it to be in the best interest of the City to submit an application for a BEDI grant of $1,000,000 to US HUD; and WHEREAS, the BEDI grant requires the commitment of a Section 108 loan; and WHEREAS, the proposed $4,000,000 Section 108 loan will provide a 4 to 1 ratio that will provide a competitive BEDI grant application; and WHEREAS, the Section 108 loan and the BEDI grant will allow for remediation and specified development costs of a City -owned brownfields property so that it may be developed for a mixed income, home ownership development to include an affordable housing component on approximately 2.7 acres located between NW 17 and 18 Streets and NW 14 and 15 Avenues, Miami, Florida; and Page 2 02— r 8 Rr WHEREAS, it is also in order for the City Commission to authorize the City Attorney to engage counsel to assist with finalizing development of a recommendation, in an amount not to exceed $25,000, said funding available from Account Code No. 001000.920205.6.250; 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. The recommendation of the City Manager to jointly submit a Brownfields Economic Development Initiative (BEDI) grant application with Wagner Square, LLC, a joint venture consisting of Atwater Capital Group, Inc., The Urban Development Group, and Redevco, the firms that submitted the two highest ranking proposals in response to the request for letters of interest for development of a mixed income, home ownership development to include an affordable housing component on approximately 2.7 acres located between Northwest 17th and 18th Streets and Northwest 14th and 15th Avenues, Miami, Florida, be accepted. Section 3. The future CDBG allocation of a $4,000,000 Section 108 loan from the US Department of Housing and Urban Development for development of a mixed income, home ownership development to include an affordable housing component on approximately 2.7 acres located between Northwest 17th and 18th Streets and Northwest 14th and 15th Avenues, Miami, Florida is hereby approved in principle. Section 4. The City Manager is hereby directed to come back to the City Commission at its meeting of July 25, 2002 with a recommendation. Section 5. The City Attorney is hereby authorized to engage counsel to assist with finalizing development of a recommendation, in an amount not to exceed $25,000, allocating funds from Account Code No. 001000.920205.6.250. Page 3 02— 782 Section 6. This Resolution shall become effective immediately upon its adoption and signature of the Mayor. ii PASSED AND ADOPTED this 8th day of July , 2002. ATTEST: CORRECTNESS: W6412:LB:BSS MANUEL A. DIAZ, M\kYOR 1� If the Mayor does not sign this Resolution, effective at the end of ten calendar days from passed and adopted. If the Mayor vetoes this shall become effective immediately upon override the City Commission. Page 4 it shall become the date it was Resolution, it of the veto by 02- 782 CITY OF MIAMI, FLORIDA 14 INTER -OFFICE MEMORANDUM TO The Honorable Mayor and DATE: July 1", 2002 FILE Members of the City Commission SUBJECT: Remediation and Development of 1700 N.W. 14th Avenue FROM: Glm eZ REFERENCES: Discussion Item for City Manage ENCLOSURES: July 8th, 2002 Commission Meeting A discussion item has been placed on the Commission Meeting of July 8th, 2002, related to the remediation and development of the City -owned property located at 1700 N.W. 14th Avenue in the Civic Center area. CG/DB/AVV� 9 02- 782