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HomeMy WebLinkAboutR-99-0423J-99-518 6/14/99 RESOLUTION NO. 99'" 423 A RESOLUTION OF THE MIAMI CITY COMMISSION RELATING TO THE DEVELOPMENT OF FIFTEEN (15) UNITS OF AFFORDABLE HOUSING IN THE EAST LITTLE HAVANA NEIGHBORHOOD BY THE EAST LITTLE HAVANA COMMUNITY DEVELOPMENT CORPORATION; AUTHORIZING THE CITY MANAGER TO RE -ALLOCATE FUNDING FROM THE CITY'S FY 95-96 STATE HOUSING INITIATIVES PARTNERSHIP (SHIP) PROGRAM IN THE AMOUNT OF $414,577, PREVIOUSLY ALLOCATED TO FLORIDA HOUSING COOPERATIVE INC. PURSUANT TO RESOLUTION NO. 97-94, AND ALLOCATING $36,962 FROM THE CITY'S FY198-99 SHIP PROGRAM FOR A TOTAL OF $451,539 IN CONNECTION WITH THE DEVELOPMENT OF THE RIVERSIDE GARDENS TOWNHOMES PROJECT PHASE II; FURTHER AUTHORIZING THE CITY MANAGER TO EXECUTE AN AGREEMENT, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, WITH THE AFOREMENTIONED COMMUNITY HOUSING DEVELOPMENT ORGANIZATION (CHDO) FOR SAID PURPOSE. WHEREAS, in July, 1992, the State of Florida enacted the William E. Sadowski Affordable Housing Act ("Sadowski Act"), which allocates a portion of new and existing documentary stamp taxes on deeds on real estate transactions to local governments for the development and maintenance of affordable housing; and WHEREAS, the Sadowski Act provides a dedicated revenue source for affordable housing and created the State Housing Initiatives Partnership (SHIP) Program; and WHEREAS, in August, 1994, the City of Miami was notified by the State of Florida that the City would be eligible to receive N • r�r �ti ° • r� i • - J U N 2 2 1999 Resolution No. 99- 423 $1,300,000 in SHIP Program funds beginning with the State's Fiscal Year 1995-1996; and WHEREAS, in November 1996, pursuant to Resolution No. 96-851, the City Commission approved the City's Local Housing Assistance Plan required by the State of Florida for the City's continued participation in the SHIP Program; and WHEREAS, through the Local Housing Assistance Plan, the City proposes to make funding available to not -for -profit Community Housing Development Organization (CHDOs), for the purpose of site acquisition, site development, project construction and permanent financing, in connection with the development of affordable housing units within the City; and WHEREAS, in February 1997, pursuant to Resolution No. 97-94, the City Commission approved the allocation of $414,577 in FY 1995-96 SHIP Program funding to Florida Housing Cooperative, Inc., in connection with the development of the Barcelona Place Condominiums Project; and WHEREAS, for FY 1998-99 approximately $1,200,000 is available through the City's Homeownership Development Program, and $100,000 is available through the Downpayment/Closing Cost Assistance Program; and WHEREAS, in October of 1998, the City of Miami advertised the availability of SHIP Program funding for the development of - 2 - 99- 423 affordable homeownership units in the City; and WHEREAS, the City Administration recommends the re- allocation of the funding from the City's FY 1995-96 SHIP Program in the amount of $414,577 to East Little Havana Community Development Corporation, and the allocation of funding from the City's FY 1998-99 SHIP Program, in the amount of $36,962 to East Little Havana Community Development Corporation, in connection with the development of the Riverside Gardens Townhome Project Phase II; 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. Funding from the City's FY 1995-96 SHIP Program in the amount of $414,577 is hereby re -allocated, and funding from the City's FY 1998-99 SHIP Program in the amount of $36,962 is hereby allocated, for the purpose of providing project development financing assistance to East Little Havana Community Development Corporation in connection with the proposed affordable housing project. Funding shall be subject to certain conditions and to East Little Havana Community Development Corporation submitting certain information for review and/or 3 - 99- 423 approval by the City Administration, which includes verification of all project costs, evidence that all project funds are committed, and adherence to all SHIP Program guidelines. Section 3. The SHIP Program funding allocated herein will be provided to the East Little Havana Community Development Corporation as a loan with conversion to a grant once the project construction has been completed, and the housing units sold to the low to moderate income families. Section 4. The City Manager is hereby authorized!' to execute individual contractual agreements, in a form acceptable to the City Attorney, with the aforementioned CHDO in the amount specified, for the purpose of providing project development financing assistance in connection with fifteen (15) units of affordable homeownership housing in the City. Section 5. This Resolution shall become effective �i 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. - 4 - 99- 423 immediately upon its adoption and signature of the Mayor./ PASSED AND ADOPTED this 22nd day of June , 1999. JOE CAROLLO, MAYOR In atx:ordance with Miami Code Sec. 2-36, since the Mayor did not indicate approval of this legislation by signing it in the designated place provided, said l��c';latio;: becomes effective with the elapse �en.4l� days� m the date of �missicn aciion regarding same, without the Maydr exercising a v�o• �%�\ CO7 ATTEST: WALTER J. CITY CLEF AND CORRECTNESS I ATTORNEY W 527:RCL Walter man, City Cl©rk 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. a 5 99— 423 a s N CITY OF MIAMI, FLORIDA INTER -OFFICE MEMORANDUM Honorable Mayor and Members JUN 14 1999 TO: City Commission DATE: FILE Resolution Reallocating $414,577 SUBJECT: and Allocating $36,962 in SHIP Program Funds to East Little Havana CDC FROM: REFERENCES: onald H. Warshaw ENCLOSURES: City Commission Agenda Item City Manager — June 22, 1999 RECOMMENDATION: It is respectfully recommended that the City Commission adopt the attached resolution authorizing the City Manager to reallocate $414,577 in FY 1995-96 SHIP Program funds, previously allocated to Florida Housing Cooperative, Inc. to East Little Havana Community Development Corporation. The attached resolution further allocates $36,962 in FY 1998-99 SHIP Program funds to East Little Havana Community Development Corporation, in connection with the development of the fifteen (15) unit Riverside Gardens Townhome Project Phase II, currently under construction at 126 and 140 NW South River Drive. BACKGROUND: In February, 1997, through Resolution No. 97-94, the City Commission allocated $414,577 in FY 1995-96 State Housing Initiatives Partnership Program funds to Florida Housing Cooperative, Inc. in connection with the proposed 18 unit Barcelona Place Condominiums Project planned at 1025 West Flagler Street. Due to delays, which have been experienced by Florida Housing Cooperative, Inc. in commencing construction oil the proposed housing project, the City of Miami has been cited by the State of Florida for being out of compliance relative to the Program guidelines, regarding the timely expenditure of SHIP Program funds. Based on the program's definition for "expended funds", funds are not considered spent until the housing project is completed, and the housing units are sold and occupied by the families. In an effort to address the concerns, which have been expressed by the State of Florida, regarding the expenditure of SHIP Program funds, it is recommended that the $414,577 in FY' 1995-96 SHIP Program funds previously allocated to Florida Housing Cooperative, Inc. be reallocated to the East Little Havana Community Development Corporation in connection with Phase II of the Riverside Gardens Townhomes Project. The Riverside Gardens Townhomes Project once complete will comprise twenty-five (25) new townhome units consisting of twenty-two 2-bedroom, 2-bath units, and three 3-bedroom, 2-bath units. The project is being built in two phases at a total cost of $2.8 million. To date, $618,000 in City financial assistance has already been committed for construction and permanent second mortgages to the homebuyers. The first phase of ten (10) units is already completed, sold and occupied. The 99- 423 remaining fifteen (15) units are approximately eighty (80%) percent complete, and it is expected that construction will be completed and the units sold and occupied by December of 1999. The aforementioned fiends allocated to East Little Havana Community Development Corporation would be subject to the fbllowing conditions/requirements: • Verification of all project costs • Evidence that all project funds are committed • Adherence to all SHIP guidelines • City funding to be structured as a loan with conversion to a grant once the project is complete and the units are sold. In an attempt to further expand the development of new homeownership housing units in the East Little Havana neighborhood, and to satisfy the State of Florida's requirements regarding the timely expenditure of SHIP program funds, City Commission ratification of the attached resolution is recommended. DHW/DB/GCW/JBH/F S"/mb <Shared/MiscRich-SMPCommissionMemoELHCDC-FHC> 99- 423 CITY CLERK TEL:3058581610 May 27'99- 11:00 No.007 P.02 � F e J-97-94 2✓12l97 RESOLUTION NO. 9 7 " 94 A RESOLUTION, RELATING TO THE DEVELOPMENT OF APPROXIMATELY 98 UNITS OF AFFORDABLE HOUSING IN THE LITTLE HAVANA NEIGHBORHOOD BY THE EAST LITTLE HAVANA COMMUNITY DWELOPMENT CORPORATION AND FLORIDA HOUSING COOPERATIVE, INC. AND 21 UNITS OF AFFORDABLE HOUSING TN THE ALLAPATTAH NEIGHBORHOOD BY ALLAPATTAH BUSINESS DEVELOPMENT AUTHORITY, INC.; AUTHORIZING THE CITY MANAGER TO ALLOCATE FUNDING FROM THE CITY'S FY' 1995-96 STATE HOUSING INITIATIVES PARTNERSHIP PROGRAM (SHIP PROGRAM) IN THE AMOUNT OF $1,217,549 AS SET FORTH HEREIN; FURTHER AUTHORIZING THE CITY MANAGER TO EXECUTE INDIVIDUAL CONTRACTUAL AGREEMENTS, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, WITH THE AFOREMENTIONED COMMUNITY HOUSING DEVELOPMENT ORGANIZATIONS (CHDO'S) FOR SAID PURPOSE. WHEREAS, in July, 1992, the State of Florida enacted the William E. Sadowski Affordable Housing Act ("Sadowski Act"), which allocates a portion of new and existing documentary stamp taxes on deeds on real estate transactions to local governments for the development and maintenance of affordable housing; and WHEREAS, the Sadowski Act provides a dedicated revenue source for affordable housing and created the Slate Housing Initiatives Partnership Program (SHIP); and FEB 2 0 jn7 Aftwu = Ida 94 99- 423 CITY CLERK TEL:3058581610 May 27'99 11:00 No.007 P.03 WHEREAS, in August, 1994, the City of Miami was notified by the State of Florida that the City would be eligible to roceive $1.3 million in SHIP Program funds beginning with the State's Fiscal Year 1995-96; and WHEREAS, in November of 1996, pursuant to Resolution No. 96-851, the City Commission approved the City's revised Local Housing Assistance Plan required by the State of Florida for the City's continued participation in the State [-lousing Initiatives Partnership Program (SHIP Program); and WHEREAS, through the City's Local Housing Assistance Plan, the City proposes to make available funding to not -far -profit Community Housing Development Organizations (CHDO's), for the purpose of site acquisition, site development, construction and permanent financing, in connection with the development of affordable homeownership units in the City, and WHEREAS, approximately 51,200,000 is available through the City's Homeownership Development Program and $100,000 is available through the City's DownpaymerWClosing Cost Assistance Prograum this year; and WREREAS, in October of 1996, the City of Miami advertised the availability of SHIP Program funding for the development of affordable homeownership units in the City; and 9VEMAS„ the City .Administration recommends the allocation of funding from the City's FY' 1995-96 State Housing Initiatives Partnership Program (SHIP Program), in the amount of $1,217,549 to the Allapattah Business Development Authority, rnc., East Little Havana Community Development Corporation and Florida Housing Cooperative, Inc., in connection with the development of 119 units of affordable housing in the City; - 2 - 99- 423 CITY CLERK TEL:3058581610 May 27'99_ 11:01 No.007 P.04 u u NOW, THFAEFORE, BE 1T RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLOR DA. Section 1. The recitals and findings contained in the Proamble to this Resolution are hereby adopted by reference thereto and incorporated herein as if fully set forth in this Section. Section 2. Funding from the City's FY' 1995-96 State Housing Initiatives Pamnersltip Program (SHTP Program) is hereby allocated for the purpose of providing project development financing and downpayment/closing cost assistance to the following not -for -profit Community Housing Development Organizations (CHDO's) fisted in the amount as set forth below: Community Housing D=loument 0-Manizatioass Am. 1. Allapattah Business Development Authority, Inc. $504,450.00 2. East Little Havana Community Development Corporation $298,522.00 3. Florida Housing Cooperative, Inc. $414,577.00 Section 3. The City Manager is hereby authorized1f to execute individual contractual agreements, in a form acceptable to the City Attorney, with the aforementioned Community Housing development Organizations (CHDO's), for the amount specified for each, for the purpose of providing project development financing and downpaymentfclosing cost assistance in connection with one hundred nineteen (119) units of affordable homeownership housing in the City. 1` Tho herein authorization is further subject to compliance with all requhvn= rs that may be imposed by the City Attorney, including, but not limited to those prescribed by applicable City Charter and Code provisions. - 3 - 99- 423 CITY CLERK TEL:3058581610 May 27'99- 11:01 No.007 P.05 E Section 4. This Resolution shall became effective immediately upon its adoption. PASSED AND ADOPTED this 20th day of February _, „ 1997. ATTEST: I OLIO, MAYOR. WALTE EMAN CITY CLERK CONVAUNITY DEVELOPMENT/NET REVIEW: ELBERJ f. WATERS, DMECTOR COMMUNM DEVELOPNI NT/NET REVIEWED AS TO ACCOUNTING, BUDGETARY AND TREASURY REQUIREMENTS: _ MICHAEbJAVIN, DIRECTOR DEPARTMENT OF FINANCE PREPARED AND APPROVED BY: APPROVED AS TO FORM AND CORRECTNESS: LINDA KELLY KEARSON A QUI N JO , III ASSISTANT CITY ATTORNEY CITY A OFbv LKK/BSS/pb/W 1454 - 4 - 99- 423 CITY OF MIAMI NOTICE TO THE PUBLIC - PLEASE ALL TAKE NOTICE that a public hearing, �%iii be meld by the City Commission of the City of Miami. Florida, on June 22. 1999 at 10:00 a.m., during the regularly scheduled City Commission meeting. in the City Commission Chambers at City Hall. 3500 Pan American Drive, Miami, Florida. The purpose of the Public Hearing is to discuss the City's proposal to reallocate $414,577 in FYI995-96 State Housing Initiatives Partnership (SHIP) Program funds. SOURCE OF REALLOCATED FUNDS: FYI995-96 SHIP funds allocated to Florida Housing Cooperative, Inc. for the development of Barcelona Place Condominiums affordable housing nroiect..............................................................................$41 77 45 RECOMMENDED REALLOCATION OF FUNDS: FYI995-96 SHIP funds to East Little Havana Community Development Corporation for the development of Riverside Gardens Townhomes-Phase II affordable housing project. ................................................................ $414,577 All interested persons are invited to appear and may be heard with respect to this item. Any person desiring to appeal any decision of the City Commission with respect to this matter, considered at this public hearing, shall ensure that a verbatim record of the proceedings is made, including all testimony and evidence upon which any appeal may be based. The City of Miami invites the submission of public comment regarding the aforementioned reallocation by writing to: City of Miami Department of Community Development 444 SW 2"d Avenue, Second Floor Miami, Florida 33130 Comments may be submitted during regular office hours. 8:00 a.m. to 5:00 p.m., Monday through Friday. City residents have thirty (30) days to submit comments on the proposed reallocation of SHIP Program funds before its implementation. The City of Miami provides equal access and equal opportunity in employment and services. and does not discriminate on the basis of handicap. if=1- LENDER CITY OF MIAMI DER Adt"Q 084