HomeMy WebLinkAboutR-00-0087J-00-59
1/19/00
RESOLUTION NO. 87
A RESOLUTION OF THE MIAMI CITY COMMISSION
AMENDING RESOLUTION NO. 98-1210 TO AUTHORIZE
THE TRANSFER OF HOME PROGRAM FUNDS, IN THE
AMOUNT OF $500,000, PREVIOUSLY ALLOCATED TO
WYNWOOD TOWER APARTMENTS, LTD., TO -GREATER
MIAMI NEIGHBORHOODS, INC. AND TO CORRECT A
SCRIVENER'S ERROR TO REFLECT THE PROPER
.ADDRESS OF SAID PROPERTY; ACKNOWLEDGING
GREATER MIAMI NEIGHBORHOODS, INC. INTENT TO
LEND SUCH FUNDS TO WYNWOOD TOWER APARTMENTS,
LTD; AND FURTHER ACKNOWLEDGING WYNWOOD TOWER
APARTMENTS, LTD. INTENT TO ENGAGE PINNACLE
HOUSING GROUP, INC., (IN SUBSTITUTION FOR
AFFORDABLE NEIGHBORHOODS, INC.) FOR THE
CONSTRUCTION AND DEVELOPMENT OF THE PROPOSED
186 UNIT WYNWOOD TOWER APARTMENTS PROJECT AT
NORTHEAST 23RD STREET AND NORTHEAST
2ND AVENUE, MIAMI, FLORIDA; FURTHER
AUTHORIZING THE CITY MANAGER TO EXECUTE AN
AGREEMENT AND ALL NECESSARY DOCUMENTS, IN A
FORM ACCEPTABLE TO THE CITY ATTORNEY, FOR
SAID PURPOSE.
WHEREAS, pursuant to Resolution No. 98-1210, adopted
December 8, 1998, the City Commission approved the allocation of
$500,000 in FY' 1998-99 HOME Investment Partnership Program
funds ("HOME Funds") to Wynwood Tower Apartments, Ltd., whose
developers were Greater Miami Neighborhoods, Inc. and Affordable
Neighborhoods, Inc., in connection with the development of the
proposed 186 unit Wynwood Tower Apartments Project; and
WHEREAS, the City's financial commitment of $500,000 in
HOME Funds was subject to Wynwood Tower Apartments, Ltd.
CITY COMMISSION
MEETINfG OF
JAN 2 7 2000
Resolution No.
00- 87
securing financial assistance from the Florida Housing Finance
Corporation through the State of Florida's Housing Credit
Program, in addition to financing from other financing sources
to complete the construction of the estimated $19 million
housing project; and
WHEREAS, Wynwood Tower Apartments, Ltd. secured $7,000,000
in construction financing from Bank of America, $9,200,000 in
tax credit equity, $1,179,000 from Miami -Dade County, $500,000
from the City of Miami and $1,215,000 in deferred developer's
fees; and
WHEREAS, a request has been made that the amount of
$500,000 in City of Miami financial assistance be awarded to
Greater Miami Neighborhoods, Inc. instead of Wynwood Tower
Apartments, Ltd., as authorized in Resolution No. 98-1210, with
the understanding that Greater Miami Neighborhoods, Inc. intends
to lend such funds to Wynwood Tower Apartments, Ltd. For the
construction and development of the Project; and
WHEREAS, since the adoption of Resolution No. 98-1210,
Wynwood Tower Apartments, Ltd. has substituted Pinnacle Housing
Group, Inc. for Affordable Neighborhoods, Inc. as one of the
developers of the Project; and
WHEREAS, the aforementioned modifications requested do not
have any substantial impact on the HOME Funds being provided by
Page 2 of 5 U — 8
0
the City in connection with the financing of the proposed
Wynwood Tower Apartments Project; and
WHEREAS, the address reflected on Resolution No. 9801210
contains a scrivener's error as the address of the project is
incorrectly listed as Southeast 2nd Avenue and 23rd Street but is
actually located at Northeast 2nd Avenue and 23rd Street, Miami,
Florida,
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 hereby adopted by reference
thereto and incorporated herein as if fully set forth in this
Section.
Section 2.
December 8, 1998,
particulars:l/
Resolution No. 98-1210, adopted
is hereby amended in the following
Resolution No. 98-1210
"Section 1. The City Manager is hereby
authorized%' to allocate funding from the City's FY'
1998-1999 Home Investment Partnership Program, in the
amount of $500,000 to Greater Miami Neighborhoods, Inc.
�i 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 3 of 5 0 — 8
for the development of the Wynwood Tower Apartments,
consisting of approximately 186 units of affordable
rental housing, to be located in the Wynwood
Neighborhood at S...,•theas Northeast 2nd Avenue and 23rd
Street, Miami, Florida, lay Wynweed Tewer Apartments,
whese developers are Greater -Miami
., subject to the
conditions that (1) financing to complete construction
of the Project must be secured,, and (2) approval must
be granted from the Florida Housing Finance Corporation
through t-he State of Florida's Housing Credit Program
for assistance in financing said Project.
"footnote omitted"
Section 3. The City Commission hereby acknowledges
that: Greater Miami Neighborhoods, Inc. intent to lend such HOME
Program funds to Wynwood Tower Apartments, Ltd., and (2) Wynwood
Tower Apartments, Ltd. intent to engage Greater Miami
Neighborhoods, Inc. and Pinnacle Housing Group, Inc. (in
substitution for Affordable Neighborhoods, Inc.), for the
construction and development of the Project.
Section 4. The City Manager is hereby authorized!' to
execute all document (s) necessary, in a form acceptable to the
City Attorney, for the said purpose.
=� 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 4 of 5 r�
Section 5. This Resolution shall become effective
immediately upon its adoption and signature of the Mayor.2/
PASSED AND ADOPTED this 27th day of January 2000.
JOE CAROLLO, MAYOR
In accordance with Miami Code Sec. 2-36, ssgnce thp Mayor did not Indicate approval of
this legislation by signing . i I I
g, � it In the place prnvidqd, said legWation now
becomes effective with the elapse cf ten (101) days, frorn the cite Wniss".
0 ion
regarding same, without the Mayor 6xercfAwn"g"'ka Vi.'j . Y'
ATTEST:
CITY CLFA
Waiter J.
00r,
AND CORRECTNESS&
I
2/ 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 5 of 5
Pq v 0+Ay
,
J-98-1238
12/8/98 98-1210 Q .p
RESOLUTION NO. 9 J — 121 U
A RESOLUTION AUTHORIZING THE CITY MANAGER TO
ALLOCATE FUNDS, SUBJECT TO CERTAIN TERMS AND
CONDITIONS AS SPECIFIED HEREIN, FROM THE
CITY'S FY 1998-1999 HOME INVESTMENT
PARTNERSHIP PROGRAM, IN THE AMOUNT OF
$500,000, FOR THE DEVELOPMENT OF WYNWOOD
TOWER APARTMENTS, CONSISTING OF APPROXIMATELY
186 UNITS OF AFFORDABLE RENTAL HOUSING, TO BE
LOCATED IN THE WYNWOOD NEIGHBORHOOD AT
SOUTHEAST 2ND AVENUE AND 23RD STREET, MIAMI,
FLORIDA, BY WYNWOOD TOWER APARTMENTS, LTD.,
WHOSE DEVELOPERS ARE GREATER MIAMI
NEIGHBORHOODS, INC. AND AFFORDABLE
NEIGHBORHOODS, INC.; AUTHORIZING THE CITY
MANAGER TO EXECUTE THE NECESSARY DOCUMENTS,
IN A FORM ACCEPTABLE TO THE CITY ATTORNEY,
FOR SAID PURPOSE.
WHEREAS, a severe shortage of affordable housing exists in
the City of Miami for families and individuals of very low, low
and moderate income; and
WHEREAS, the City Commission recognizes that the
participation of both the public and private sector is necessary
to foster the development of affordable housing in the City of
Miami; and
WHEREAS, in June 1998, the City of Miami was awarded
approximately $4,520,000 in FY 1998-1999 HOME Partnership Program
CITY CMUSSION
MEETHIG OF
DEC 0 v 1998
Resolution No.
0 0
r
w
funding from the U.S. Department of Housing and Urban
Development; and
WHERRAS, said project sponsor is preparing an application
for funding from the State of Florida for financial assistance
through the State's Housing Credit Program for the development of
the proposed housing project; and
WHEREAS, it is recommended that the City Commission
authorize the City Manager to allocate funding from the City's
FY 1998-1999 HOME Investment Partnership Program, in the amount
of $500,000 for the development of the Wynwood Tower Apartments,
consisting of approximately 186 units of affordable rental
housing to be located in the Wynwood Neighborhood at Southeast
2nd Avenue and 23rd Street, Miami, Florida, by Wynwood Tower
Apartments, Ltd., whose developers are Greater Miami
Neighborhoods, Inc. and Affordable Neighborhoods, Inc., subject
to compliance with certain conditions;
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 hereby adopted by reference
thereto and incorporated herein as if fully set forth in this
_ 2 _ Cl4_1'1111
Section.
Section 2. The City Manager is hereby authorized to
allocate funding from the City's FY 1998-1999 HOME Investment
Partnership Program, in the amount of $500,000 for the
development of the Wynwood Tower Apartments, consisting of
approximately 186 units of affordable rental housing, to be
located in the Wynwood Neighborhood at Southeast 2nd Avenue and
23rd Street, Miami, Florida, by Wynwood Tower Apartments, Ltd.,
whose developers are Greater Miami Neighborhoods, Inc. and
Affordable Neighborhoods, Inc., subject to the conditions that
(1) financing to complete construction of the project must be
secured, and (2) approval must be granted from the Florida
Housing Finance Corporation through the State of Florida's
Housing Credit Program for assistance in financing said project.
Section 3. The City Manager is hereby authorizedll to
execute the necessary documents, in a form acceptable to the City
Attorney, for said purpose.
Section 4. This Resolution shall become effective
l� 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.
8 `
- 3 -
L,
immediately upon its adoption and signature of the Mayor.Z/
PASSED AND ADOPTED this Ath day of npt-pnibpr , 1998.
JOE CAROLLO, MAYOR
In accordance With Miami Code Sec. 2-36, since the. %Ia�ror did not irdicetc, anprovai .)f
eri en C -
this legislation by signing it in the designated plaza prov?,-
becomes effective with the elapse of ter (101 days from the date 01 C'Mr —'.
regarding same, without the Mayor exercisi ../veto.
ATTEST:
Wabw4- Fbeman. r'it, clerk
WALTER J. FOEMAN
CITY CLERK
CORRECTNESS &
TTORNEY
135:BSS
If the Mayor does not signthisResolution, 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.
u- 87
4
CITY OF MIAMI, FLORIDA 20
INTER -OFFICE MEMORANDUM
TO: The Honorable Mayor and Members of
the City Co ission
FROM:
Do H. Warshaw
City Manager
RECOMMENDATION:
DATE: 4 2 FILE:
SUBJECT : Resolution Relating to Development of
Wynwood Tower Apartments Project
REFERENCES: City Commission Meeting of
ENCLOSURES: January 27, 2000
It is respectfully recommended -that the City Commission adopt the attached resolution relating to the
development of the proposed Wynwood Towers Apartments Project to be located at Northeast 23`d
Street and Northeast 2nd Avenue. The attached resolution authorizes and amends Resolution No. 98-
1210, adopted December 8, 1998, to allow for the transfer of $500,000 in HOME Program funding
previously allocated to Wynwood Tower Apartments, Ltd. to Greater Miami Neighborhoods, Inc., in
connection with the development of the aforementioned 186 unit rental housing project.
BACKGROUND:
In December of 1998, through Resolution No. 98-12.10, the City Commission approved allocating
$500,000 in FY 1998-99 HOME Investment Partnership Program funds to Wynwood Tower
Apartments, Ltd., whose developers are Greater Miami Neighborhood, Inc. and Affordable
Neighborhoods, Inc. (currently known as Pinnacle Housing Group, Inc.), in connection with the
development of the proposed Wynwood Tower Apartments Project.
Per Resolution No. 98-1210, the City's financial commitment of $500,000 in HOME Program funding
was subject to the developer securing financial assistance from the Florida Housing Finance
Corporation through the State of Florida's Housing Credit Program, in addition to financing from other
sources in order to complete the construction of the proposed housing project. To date, financing for
the proposed $19 million housing project has been secured from the following sources:
Bank of America
$ 7,000,000
Tax Credit Equity
9,200,000
Miami -Dade County
1,179,000
City of Miami
500,000
Deferred /Developer's Fee
1,215,000
$19,094,000
rid M�q
NUN
The attached resolution.authorizes and amends Resolution No. 98-1210, adopted December 8, 1998, to
allow. for the transfer of the $500,000 in HOME Program funding previously allocated to the
Wynwood Tower Apartments, Ltd. to Greater Miami Neighborhoods, Inc., in connection with the
development of the proposed Wynwood Tower Apartments Project.
In addition, the attached resolution also acknowledges the name change of of the co -developers of
the aforementioned ,housing project. Since the adoption of Resolution No. 98-1210 by the City
Commission, Affordable Neighborhoods, Inc., has changed its name to Pinnacle Housing Group, Inc.,
and the resolution is being amended also to reflect the name change.
In an effort to further expand the development of new affordable rental housing units for low and
moderate income families in the Wynwood neighborhood,. City Commission approval of the attached
resolutio7 recommended.
JF /GCW/JBH/mb
Enclosure
2
J-98-1238
12/8/98
RESOLUTION NO. 98-1210
A RESOLUTION AUTHORIZING THE CITY MANAGER TO
ALLOCATE FUNDS, SUBJECT TO CERTAIN TERMS AND
CONDITIONS AS SPECIFIED HEREIN, FROM THE
CITY'S FY 1998-1999 HOME INVESTMENT
PARTNERSHIP PROGRAM, IN THE AMOUNT OF
$500,000, FOR THE DEVELOPMENT OF WYNWOOD
TOWER APARTMENTS, CONSISTING OF APPROXIMATELY
186 UNITS OF AFFORDABLE RENTAL HOUSING, TO BE
LOCATED IN THE WYNWOOD NEIGHBORHOOD AT
SOUTHEAST 2ND AVENUE AND 23RD STREET, MIAMI,
FLORIDA, BY WYNWOOD TOWER APARTMENTS, LTD.,
WHOSE DEVELOPERS ARE GREATER MIAMI
NEIGHBORHOODS, INC. . AND AFFORDABLE
NEIGHBORHOODS, INC.; AUTHORIZING THE CITY
MANAGER TO EXECUTE THE NECESSARY DOCUMENTS,
IN A FORM ACCEPTABLE TO "THE CITY ATTORNEY,
FOR SAID PURPOSE.
WHEREAS, a severe shortage of affordable housing exists in
the City of Miami for families and individuals of very low, low.
and moderate income; and
WHEREAS, the City Commission recognizes. that the
participation of both the public and private sector is necessary
to foster the development of affordable housing in the City of
Miami; and
WHEREAS, in June 1998, the City of Miami was awarded
approximately $4,520,000 in FY 1998-1999 HOME Partnership Program
QY°r cOwassiox
HETI C . OF
DEC 0 8 1998
Resolution No.
funding from the U.S. Department of Housing and Urban
Development; and
WHEREAS., said project sponsor is preparing an application
for funding from the State of Florida for financial assistance
through'theState's Housing'Credit Program for the development of
the proposed housing project; and
WHEREAS, it is recommended that the City Commission
authorize- the City Manager to allocate funding from the City's
FY '1998-1999 HOME Investment Partnership Program, in the amount
of $500,000 for the development of the Wynwood Tower Apartments,"
consisting of approximately 186 -'units of affordable rental
housing to be located in the Wynwood Neighborhood at Southeast
2nd Avenue and.'23rd Street, Miami, Florida, by Wynwood Tower
Apartments, Ltd., whose developers are Greater Miami
Neighborhoods, Inc.. and Affordable Neighborhoods, Inc., subject
to compliance with certain conditions;
NOW., THEREFORE, B8 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 hereby adopted, by reference
thereto and incorporated herein as if fully set forth in this
87
- 2 -
Section.
Section 2. The City Manager is hereby authorized to
allocate funding from the City's FY 1998-1999 HOME Investment
Partnership Program, in the amount of $500,000 for the
development of the Wynwood Tower Apartments, consisting of
approximately 186 units of affordable rental housing, to be
located in the Wynwood Neighborhood at Southeast 2nd Avenue and
23rd Street, Miami, Florida, by Wynwood Tower Apartments, Ltd.,.
whose developers are Greater Miami Neighborhoods, Inc. and
Affordable Neighborhoods, Inc., subject to the conditions that
(1) financing to complete construction of the project must be
secured, and (2) approval must be granted from the Florida
Housing Finance Corporation through the State of Florida's
Housing Credit Program for assistance in financing said project.
Section 3. The City Manager is hereby authorized3-1 to
execute the necessary documents, in a form acceptable to,the City
Attorney, for said purpose.
Section 4. This Resolution shall become effective
l� 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.
_ 00�'
immediately upon'its adoption and signature of the Mayor.-2�
PASSED AND ADOPTED this., nth day of DPctPmhPr. 1998..
JOE CAROLLO, MAYOR
In accordance with Miami Code Sec. 2-36, since the Mayor did not irdicats approv4! •of
this legislation by signing it in the designated place provided, said
becomes effective with the elapse.of ten (10) days from the date of C r;. ;;sic. c c.
regarding' same, without the Mayor exercising Neto. /
ATTEST:
Wa oeman. City Clerk
WALTER J. FOEMAN
CITY CLERK
APP RO AS O CORRECTNESS
O VILARELLO
C TTORNEY
3135:BSS
21 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 Cotmnission.dd�� j
- 4 -
U
STATE OF FLORIDA )
COUNTY OF DADE )
CITY OF MIANII )
1, WALTER J. FOEMAN, City Clerk of the City of Miami, Florida, and keeper
of the records thereof,. do hereby certify that the attached and foregoing pages numbered 1
through 4, inclusive, constitute a true and correct copy of a Resolution with attachments passed
and adopted by the City Commission at the meeting held on the 8rh day of December,1998.
SAID RESOL UTION WAS DESIGNATED AS RESOL UTION NO. 98-12.10.
IN WITNESS WHEREOF, I hereunto set my hand and impress the official seal
of the City of Miami, Florida this 3e day of December,1998.
WALTER J. FOEMAN
City Clerk
Miami, Florida
, ff. 4f.1
Deputy
(OFFICIAL SEAL)
GO- 87