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Home My WebLink AboutR-00-1005J-00-951 11/15/00 RESOLUTION NO. A RESOLUTION OF THE MIAMI CITY COMMISSION AMENDING RESOLUTION NO. 00-170 TO CORRECTLY REFLECT THE LEGAL NAME OF PENINSULA HOUSING DEVELOPMENT INC. XV AS THE DEVELOPER AWARDED FUNDS IN CONNECTION WITH THE FINANCING OF THE. VISTA ALEGRE APARTMENTS PROJECT LOCATED IN THE LITTLE HAVANA NEIGHBORHOOD AT 2235 SOUTHWEST 8TH STREET, MIAMI, FLORIDA; AUTHORIZING THE CITY MANAGER TO EXECUTE THE NECESSARY DOCUMENTS, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, FOR SAID PURPOSE. WHEREAS, Resolution No. 00-170, adopted February 17, 2000, allocated $2,205,000 in Home Investment Partnership Program ("HOME") funds to four (4) affordable housing developers in connection with the development of approximately six hundred ninety-seven (697) units of rental housing in the City of Miami ("City"); and WHEREAS, the name of the entity for the development of the Vista Alegre Apartments Project as set forth in Resolution No. 00-170 does not accurately reflect the legal name of the owner of record of the project; and CITY CO SSION MEETING OF k v b 6 2000 U 10 • • WHEREAS, prior to the execution of the agreement between the City and the project owner and disbursement of funds, Resolution No. 00-170 must be amended to accurately reflect the correct legal name of the entity that will be responsible for receiving the HOME funds from the City for the financing of the proposed housing 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 hereby adopted by reference and incorporated as if fully set forth in this Section. Section 2. Resolution No. 00-170, adopted February 17, 2000, is hereby amended in the following particulars:'/ "RESOLUTION NO. 00-170 Section 2. The allocation of funds, in an amount not to exceed $2,205;000, is hereby authorized to four (4) affordable Housing Developers in connection with the development of approximately six hundred ninety-seven (697) units of rental housing in the City from the City's Fiscal Year 1999-2000 and Fiscal Year 2000-2001 Home Investment Partnership Programs in the amounts stated hereinbelow, subject to conditions that (1) financing to complete construction of the project must be secured on or before 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 0 -10" 0 5 December 31, 2000, and (2) approval must be granted from the State of .Florida's Housing Credit Program or the Department of Housing and Urban Development for assistance in financing each, of the proposed housing projects• Developer's Name Project Name/Location Amount GGBBG, Imo- Peninsula Vista Alegre Apartments $140,000 Housing Development, 2235 S.W. 8th Street Inc. XV St. Martin Affordable Miami Stadium Apartments not to exceed Housing, Ltd. 2301 N.W. loth Avenue 500,000 Gatehouse Development Brisas del Mar Apartments 540,000 Corporation/Jubilee 464 West Flagler Street Community Development Corp. Pinnacle Housing Rayos del Sol Apartments not to exceed Group, Inc. N.W. 13th Avenue between 1,025,000 N.W. 1st and 2nd Streets not to exceed Total $2,205,000 Section 3. The City Manager is hereby authorizedV to execute the necessary documents, in a form acceptable to the City Attorney, for said purpose. Section 4. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.31 z/ 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. 3i 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 16th day of November 2000. JOE CAROLLO, MAYOR In accordance with Miami Code Sec 2-36, since the Mayor did not indicate approvF,10 of this legislation by signing it in the designated i ,rCvt Iegivl�d'.` "W becomes effective with the elapse of tan i IWday,�,'ornthaS�r3te a�T � ruin is` .+.:i c cn regarding same, without the Mvjor eyi:is�� , ATTEST: Waiter,J. Fd'1b&T,0Vty Clerk WALTER J. FOEMAN CITY CLERK -06 APPROVE .�PPTS O FORM AND CORRECTNESSf Ar AL DRO"VILARELLO Y ATTORNEY W4811:lg:LB:BSS Page 4 of 4 CITY OF MIAMI, FLORIDA 20" INTER -OFFICE MEMORANDUM The Honorable Mayor and Members TO of the City Commission RECOMMENDATION: NOV - 7 2000 DATE: FILE SUBJECT: Resolution Amending Resolution No. 00-170 Vista Alegre Apartments Project REFERENCES: City Commission Meeting ENCLOSURES: of November 16, 2000 It is respectfully recommended that the City Commission adopt the attached resolution, amending Section 2 of Resolution No. 00-170, adopted February 17, 2000, to properly reflect the legal name of the single asset entity which will receive the $140,000 in Home Investment Partnership (HOME) Program funding awarded by the City in connection with the financing of the proposed 100 unit Vista Alegre Apartments Project under construction in the Little Havana neighborhood. BACKGROUND: At its meeting of February 17, 2000, with the adoption of Resolution No. 00-170, the City Commission allocated an amount not to exceed $2,205,000 in Home Program funding to four (4) housing developers in connection with the development of 697 units of affordable rental housing in the City. Of the aforementioned amount, $140,000 was awarded to CODEC, Inc. in connection with the financing of the 100 unit Vista Alegre Apartments Project. In addition, CODEC, Inc. has secured $7,166,000 in Section 202 Program funding reservations from the U.S. Department of Housing and Urban Development to construct the project. On September 6, 2000, CODEC, Inc. advised the City that the legal name and owner of record for the Vista Alegre Apartments Project is Peninsula Housing Development, Inc. XV, a not -for - profit corporation, single asset entity created by CODEC, Inc. to develop and own the project. Presently, Resolution No. 00-170 does not accurately reflect the legal name of the entity which will received the City's funding. As a result, prior to the execution of an agreement between the City and the developer/owner and the disbursement of the City funding, it is necessary to correct the record to accurately reflect the legal name of the entity that will be receiving the City funding in connection with the financing of the project per resolution No. 00-170. The Honorable Mayor and Members of the City Commission Page 2 In an effort to move forward with the disbursement of the City's financial commitment to the Vista Alegre Apartments Project, City Commission adoption of the attached resolution is recommended. 14ti60 eB)/Ga/JBH 0®-1005 J-00-147 2/17/00 RESOLUTION NO. A RESOLUTION OF THE MIAMI CITY COMMISSION AUTHORIZING THE ALLOCATION OF FUNDS, IN AN AMOUNT NOT TO EXCEED $2,205,000, IN THE AMOUNTS SPECIFIED HEREIN AND' SUBJECT TO CERTAIN TE F MS AND CO_'IDI TI ONS , TO FOUR ( 4 ) AFFORDABLE HOUSING DEVELOPERS FROM THE CITY OF MIAMI'S FISCAL: YEAR 1999-2000 HOME INVESTMENT PARTNERSHIP PROGRAM, IN CONNECTION WITH THE DEVELOP`XN'T OF APPROXIMATELY 697 UNITS OF AFFORDABLE RENTAL HOUSING IN THE CITY; AUTHORIZING THE CITY MANAGER TO EXECUTE THE NECESSARY DOCUMENT(S), IN A FORM ACCEPTABLE TO = CITY ATTORNEY, FOR SAID PURPOSE. WHEREAS, a severe shortage of affordable housing exists in the City of Miami ("City")for families and individuals of very low, low, and moderate income; and WHEREAS, the City Commission recognizes that the participation of both tnG public and private sector is necessary to foster the development of affordable housing in cne City; a:_1 WHEREAS, in July 1999, pursuant to Resolution No. 99-429, the City Commission approved and adopted the City's Five -Year Consolidated Plan (1999-2004) for the use of funds received by the City from the U.S. Department of Rousing and Urban Development (US HUD) to implement the following programs: Community Development Block Grant ("CDBG"), HOME Investment CITY Cob5assion !` MEDTiNG OF olutica �a 771 UU--1005 u Partnership ("HOME"), Emergency Shelter Grant PIESG"), and the Housing Opportunities for Persons With AIDS ("HOPWA"); and WHEREAS,, in July 1999, pursuant to Resolution No. 99-606, the city Commission amended Resolution No. 99-429 and the City's Five -Year Consolidated Plan (1999-2004) in the Affordable Housing category to set forth a policy establishing 7596 of available funding to support homeownership activities, and 259 to support rental housing activities; and WHEREAS, in, October _33y, the City ad,•ertised a Notice of Funding Availability under the HOME Investment Partnership Program in the amount of $915,188 available through the Multi -Family Rental New Construction Program category; and WHEREAS, on October 29, 1999, funding proposals were received from both not -for -profit and for profit housing developers in response to the City's Request for Proposals (RFP) under the CDBG, HOME, SHIP and HOPWA Programs; and WHEREAS, based on the number of funding proposals received by the City, the Department of Community Development has made available an additional $350,000 in HOME Program funds from the Fiscal Year 1999-20C^ Cc-Munity Housing Development Organization (CHDO) category and $940,000 from the City's projected Fiscal Year'..2000-2001 HOME Program .ailocation from US HUD; and WHEREAS, based on the additional funds to be allocated, in an amount not to exceed $1,290,000, funds in the approximate amount of $2,205,000 exists in the Multifamily Rental New .Construction Program category; and Pace 2 of 5 001005 IC, 8-(1 0r, 6 0Z 00 9 T 0 , 0 WHEREAS, based on the funding proposals received by the City for HOME funds available through the HOME Multifamily n_n*al v?w Construction Pr -gram category and recommendations of the City's Housing Loan Committee, funding is recommended to the following housing developers, subject to compliance with certain terms and conditions: CODEC, Inc., St. Martin Affordable Housing, Ltd., Gatehouse Development Corporation/Jubilee Community Development Corp., and Pinnacle Housing Group, Inc.; NOW, 1iicREFORE, BE iT RESOLV D By THE COMMISSION OF TH-E CITY of MIA.M1, 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. The allocation of funds, in an amount not to c2. 205, 000, is hereby authorized to four (4) affordable Housing Developers in connection with the development of approximately six hundred ninety-seven (697) units of rental housing in the City from the City's Fiscal Year 1999-200.0 and _iscal Year 2000-20_-�i'HOME Investment Partnership Programs in the amounts stated hereinbelow, subject to the conditions that (1) financing to complete construction of the project must be secured on or before December 31, 2000, and (2) approval must be granted frog the State of Florida's Housing Credit Program or Page 3 of 5 80'd 8Z0'�,� G- �� GO,y� }30 :�31 00-1005 the Department of Housing and Urban Development for assistance in financing each of the proposed housing projects: peve oBeY.g Name PYoject Name/.Qcation ounc. CODEC, Inc. Vista. Alegre Apartments $140,000 2235 S.W.G" Street St. Ma_zin Affordable Miami Stadium Apartments not to exceed housing, Ltd. 23JZ. N.W. 10"' Avenue 500,000 Gatehouse Development. Brisas del Mar Apartments 540,000 Corporation/Jubilee 464 West Flagler Street community Development Pinnacle Housing Group, Inc. N.W. 13" Avenue between 1,025,000 N.W. 1'= and 2"a Streets not to exceed Total $ 2,205,000 Section 3.:3nager :r�rrorized}' to execute the necessary document(s), in a form acceptable 'to the City Attorney, for said purpose. Section 4. This Resolution shall become effective mmediately upon its adoption and signature of the Mayor.v 1� 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 provi s i-ons . 1' If the Mayor does not sign this Resolution, it shall become effective at the end c` ten _ calendar days from the date it was paanec: and adop[ed. 2 .",a ve.oes th 9 Resolution, it shall become e`_`zctive immediately upon override of the veto by the city Commission. .� . Page 4 of 5 60.7. d 8Z0 orb_; 'r,:. ; OZ 00. 9 L zoo 'PASSED AND ADOPTED this 17th day of Fehruarv__.. - 2000• JOE CAROLLO, MAYOR in accordance with i:Si3rr�i Coda Sec. ,-3, s',rc� the RSayor did not lMic8'.2 c3 by Sian„nn it in the dazignatOC, P!U Pr b2com05 e{;active with the elapse cl ten (10) da-!_ i.-c coca a regarding same, wiitwut the Mayor exercising a� J ATTEST: Wal�3r J4F9n ,it YClerk WALTER J . FOEPIXA+ CITY CLE APPRO DS TO FORM W4153:hdb:RCL:9SS CORRECTNESS Page 5 of 5 ��uno-io, 05 Sent 6y:CNC.MANA6EMENT OV-00 09:53am from 3056425*13054162090 Page 2/ PHONE: (305) 642-1381 FAX: (305) 642-5487 CODEC IN -Co. Septtrmber 6, 2000 1223 S.W. 4 STREET • SUITE 202, 2ND FLOOR • MIAMI, FLORIDA 33135 Mrs. Gwendolyn C. Warren 0 9- 0 6- O O p 0 3: 01 R e V D Director Depaatment of Community Development City of Miami 444 S.W. 20d Av,Sncte, 2"d. Floor Nami, Florida 33130 RE: HOME Fands for Vista Alegre Apartments - U.S. IMI Project #EF067 Dear Mrs. Warren: a On February 17, 2000, the city cfMami Commission, pursuarrt to Resolution No- 00- 170, awarded $140,000 of HOME Program Funds to the aforementioned Pralect- The draft documents of the Contract between CODEC, Inc, and the City of Miami, have been sent to the U.S. HUD Multifamily Office in Jal J00nVi le, for their review and approval. No major changes have been noted with the exception ofthe name ofthe Mortgagee. The owner corporation, as per 202 regaWons, of record is Peninsula Housing Development, Inc. XV, a not -for -profit corporation, created for sole purpose of ownership, and includes the same Board of Directors as CODEC, Inc. CODEC is the sponsor/developer of the project. Since this change in name requires Cowinission approval, this letter will serve as a formal request to be placed on the neatest Commission agenda for the already mentioned purpose as previously done with CODEC and other agencies. Should you or your staff require additional ifformatitm, please do not hesitate to contact me at (305) 642-1391, Ext. 126 or at my cellular (305) 389-1597. Very truly Exoa ive Director of Operations JF:ivg cc: W Barbara G. Rodriguez r%nKARA1 IAIITY 2 Gi'�lAl(lAAlf^ 11�\/CI f\g1U1G�IT 00Z- 1005