HomeMy WebLinkAboutR-01-1190i • •
J -01--98V
11/6/01
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RESOLUTION N0. °
A RESOLUTION OF THE MIAMI CITY COMMISSION
AUTHORIZING A COUNTER -SETTLEMENT PROPOSAL TO
ST. JOHNS COMMUNITY DEVELOPMENT CORPORATION
("SJCDC") AND LYRIC VILLAGE HOUSING, INC.
("LVHI"), AN AFFILIATE OF THE RELATED GROUP
OF FLORIDA IN CONNECTION WITH THE EXISTING
LITIGATION IN THE CASE OF CITY OF MIAMI AND
SOUTHEAST OVERTOWN/PARK WEST COMMUNITY
REDEVELOPMENT AGENCY VS. LVHI AND SJCDC,
ELEVENTH JUDICIAL CIRCUIT CASE NO. 00-30414
CA (13), IN CONNECTION WITH THE LYRIC
VILLAGE PROJECT.
WHEREAS, the City and the Southeast Overtown/Park West
Community Redevelopment Agency ("CRA") instituted the litigation
in the case of City of Miami and Southeast Overtown/Park West
Community Redevelopment Agency vs. LVHI and SJCDC (the "Pending
Litigation"), Eleventh Judicial Circuit Case No. 00-30414 CA
(13), in connection with the Lyric Village Project (the
"Project"); and
WHEREAS, the City desires to make a counter -settlement
proposal to SJCDC and LVHI in connection with the Pending
Litigation.
C
NOW, THEREFORE, BE IT RESOLVED BY 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. Holland & Knight LLP is authorized to make a
counter -settlement proposal to SJCDC and LVHI in connection with
the Pending Litigation with the following stipulations:
A. The CRA will proceed with transaction
contemplated by the Request for Qualifications
("RFQ") issued by the CRA in calendar year 1996
and the response to the RFQ (the "RFQ RESPONSE")
submitted by SJCDC and The Related Group of
Florida ("Related"), provided that the entity the
CRA will be contracting with, namely, SJCDC and
Related is the same legal entity that responded
to the RFQ (the "Joint Venture");
B. Within 90 days from the execution date of the
settlement agreement, the Joint Venture will
obtain a term sheet from a lender for
construction financing for the entire cost of the
Project, in a minimum amount of $4,100,000;
C. Jorge Perez of Related must commit, in writing,
to satisfy any guarantee requirements of the
lender as more particularly reflected in the term
sheet;
D. The Joint Venture must provide evidence to the
CRA that it has equity available to satisfy the
requirements of the lender as reflected in the
term sheet for the loan;
E. The Joint Venture will, within 90 days of the
CRA's approval of the term sheet, obtain a
binding loan commitment for the construction of
the Project;
Page 2 of 4
F The closing will occur between the Joint Venture
and the CRA within 30 days of the loan commitment
being obtained;
G. The CRA and the Joint Venture will agree on
performance requirements for the completion of
the Project substantially in accordance with the
RFQ Response;
H. The Joint Venture will forfeit the land if it
does not meet those performance requirements;
I. The parties shall exchange mutual releases with
respect to the Pending Litigation;
J. The City will take no responsibility for platting
the property, which shall be the obligation of
the Joint Venture, if required;
K. The Joint Venture will satisfy itself that the
X500,000 from HOME Funds and the $500,000 from
CDBG funds previously allocated to the Project
are still available for the Project, or obtain
alternate financing; and
L. Documentation in connection with the proposed
settlement shall be in form and substance
acceptable to the City Attorney and the City
Commission.
Section 3. This Resolution shall become effective
immediately upon its adoption and signature of the Mayor.!
1 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 4
PASSED AND ADOPTED this 15th day of
ATTEST:
November , 2001.
JOE CAROLLO, MAYOR
r.r rfl-e;�ww�y ea��!�'� � I� � �°nr!,� hr+r ^,J.,^!r� n'...�..n r�,,..� �i�•,�r ,, rY:,! i1r,ti ��-;, a .,..,nr, � ia.:�q...4 r�
iarC��iftiiii[� :icai'i3�;, LUI�r7(7Gil ���., i,ric.y'. , ,:`r•
WALTER J. FOEMAN
CITY CLERK
APPp7ED,,gT TO FORM AN CORRECTNESS
-
FANDRO VILARELLO
Y ATTORNEY
W5805:IT:LB
Page 4 of 4
Gidlcltll, Giiy Clei,k
TO:
FROM:
DATE
RE
CITY OF MIAMI
CITY ATTORNEY'S OFFII
MEMORANDUM
Mayor and Members of the City Commission
Alejandro Vilarello, City Attorney
November 8, 2001
CA -16
Resolution related to St. John's Community Development Corporation and Lyric
Village Housing Litigation Cases
At the Community Redevelopment Agency meeting on October 25, 2001, the CRA adopted a
resolution proposing a counter settlement to resolve the above referenced litigation matters. The attached
resolution for your consideration authorizes the counter settlement on behalf of the City of Miami.
C: Carlos Gimenez, City Manager
Walter J. Foeman, City Clerk
1 :\?AJChiai3\Memos\A V AgendaSettleLyric,doc
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