HomeMy WebLinkAboutO-12153J-01-930
10/25/01 12153
ORDINANCE N0.
AN EMERGENCY ORDINANCE OF THE MIAMI CITY
COMMISSION AMENDING ORDINANCE NO. 12132 TO
INCREASE THE SPECIAL REVENUE FUND ENTITLED
"FLAGLER FIRST CONDOMINIUM PROJECT FUND" BY
APPROPRIATING FUNDS IN THE AMOUNT OF $900,000
AS A LOAN FROM THE STRATEGIC INITIATIVE FUND
TO BE REPAID FROM PARKING SURCHARGE REVENUES
OR OTHER SOURCES, AS APPROPRIATE; AUTHORIZING
THE CITY MANAGER TO EXECUTE AN AGREEMENT WITH
KAPUSTIN CORPORATION AND JOINT PARTNERS, IN A
FORM ACCEPTABLE TO THE CITY ATTORNEY, FOR
ACCEPTANCE OF GRANT FUNDING FOR DEVELOPMENT
OF THE FLAGLER FIRST CONDOMINIUM PROJECT;
CONTAINING A REPEALER PROVISION AND A
SEVERABILITY CLAUSE.
WHEREAS, on October 11, 2001, the Miami City Commission
adopted Resolution No. 01-1074 authorizing a grant in the amount
of $900,000 to Kapustin Corporation and a Joint Partnership, to
be determined in not more than 90 days from that date, from the
City of Miami Affordable Housing Trust Fund Account No. 367101 as
partial funding for the redevelopment and adaptive reuse of a
100,000 square -foot building located at 101 East Flagler Street,
Miami, Florida, into a 90 -unit affordable housing condominium
project known as "Flagler First Condominium"; and
WHEREAS, on October 11, 2001, the City of Miami Commission
adopted Motion 01-1075 granting an additional $900,000 from the
12153
City of Miami Strategic Initiative Fund to Kapustin Corporation
and a Joint Partnership, for said project;
WHEREAS, it is necessary to amend the Flagler First
Condominium Special Revenue Fund to increase appropriations in
the amount of $900,000 from a loan from the Strategic Initiative
Fund for a total appropriation of $1,800,000; and
WHEREAS, the loan from the Strategic Initiative Fund shall
be repaid from parking surcharge revenues or other funding
sources, as deemed appropriate by the City Manager;
NOW, THEREFORE, BE IT ORDAINED BY THE COMMISSION OF THE CITY
OF MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the
Preamble to this Ordinance are adopted by reference and
incorporated as if fully set forth in this Section.
Section 2. Ordinance No. 12132, adopted October 11,
2001, is amended in the following particulars:!'
"ORDINANCE NO. 12132
Section 1. The following Special Revenue Fund
is established and resources are appropriated as
described herein:
1� Words and/or figures stricken through shall be deleted. Underscored
words and/or figures shall be added. The remaining provisions are now
in effect and remain unchanged. Asterisks indicate omitted and
unchanged material.
Page 2 of 4 12153
FUND TITLE: Flagler First Condominium Project Fund
RESOURCES: City of Miami Affordable Housing
Trust Fund, Account No. 367101
City of Miami Strategic
Initiative Fund Loan
APPROPRIATIONS:
;900s989
$ 900,000
$ 900,000
$1,800,000
Section 3. The $900,000 appropriated from the Miami
Strategic Initiative Fund shall be considered a loan only, which
loan shall be repaid to the Strategic Initiative Fund from
parking surcharge revenues, or other funding sources, as deemed
appropriate by the City Manager.
Section 4. The City Manager is authorized' to execute
an agreement with Kapustin Corporation and Joint Partners, in a
form acceptable to the City Attorney, for acceptance of grant
funding for development of the Flagler First Condominium Project.
Section 5. All Ordinances or parts of Ordinances insofar
as they are inconsistent or in conflict with the provisions of
this Ordinance are repealed.
Section 6. If any section, part of section, paragraph,
clause, phrase, or word of this Ordinance is declared invalid,
the remaining provisions of this Ordinance shall not be affected.
Section 7. This Ordinance is declared to be an emergency
measure on the grounds of urgent public need for the preservation
zi The herein authorization is further subject to compliance with all
requirements that may be imposed by the City Attorney, including but not
limited to those prescribed by applicable City Charter and Code
provisions.
Page 3 of 4
12153
of peace, health, safety, and property of the City of Miami, and
to generally carry on the functions and duties of municipal
affairs.
Section 8. The requirement of reading this Ordinance on
two separate days is dispensed with by an affirmative vote of not
less than four-fifths (4/5ths) of the members of the Commission.
Section 9. This Ordinance shall become effective
immediately upon its adoption and signature of the Mayor.3/
PASSED AND ADOPTED BY TITLE ONLY this 25th day
of OctnhPr , 2001.
JOE CAROLLO, MAYOR
In accordance with ",Miami C de Sec. 2-36. since the Mayor did not ins' ^�•� ^w
this legislation byI
_.C.
becomes effective w,tr�C211
regarding same, without the Mayor erci ng .o.
ATTEST:
Walter J eman, City Clerk
WALTER J. FOEMAN
CITY CLERK
D CORRECTNESS
ATTORNEY
1160:LB:BSS
si If the Mayor does not sign this Ordinance, it shall become effective at
the end of ten calendar days from the date it was passed and adopted.
If the Mayor vetoes this Ordinance, it shall become effective
immediately upon override of the veto by the City Commission.
Page 4 of 4
12 15 3