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Home My WebLink AboutR-98-0012J-98-32 1 /13/98 RESOLUTION _ 12 A RESOLUTION RELATING TO THE DEVELOPMENT OF THE PROPOSED RALPH'S PLAZA TOWNHOMES PROJECT --PHASE II, A 30-UNIT AFFORDABLE HOMEOWNERSHIP PROJECT ("PROJECT") PLANNED FOR DEVELOPMENT AT NORTHWEST 39T" STREET AND 17T" AVENUE, IN THE ALLAPATTAH NEIGHBORHOOD, BY THE ALLAPATTAH BUSINESS DEVELOPMENT AUTHORITY, INC.; REAFFIRMING THE CITY OF MIAMI'S COMMITMENT OF $500,000.00 IN FY 1997 - 1998 HOME PROGRAM FUNDING FROM PROJECT ACCOUNT CODE 198006.630201.6.946 TO THE AFOREMENTIONED PROJECT PURSUANT TO MOTION NO. 97-506, ADOPTED JULY 24, 1997, BY THE CITY COMMISSION; FURTHER, AUTHORIZING THE CITY MANAGER TO EXECUTE THE APPROPRIATE LEGAL DOCUMENTS, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY FOR DISBURSEMENT OF SAID FUNDING. WHEREAS, a severe shortage of affordable housing for families and individuals of very low, low and moderate -income exists within the City of Miami; and WHEREAS, the City Commission recognizes that the participation of both the public and private sectors are necessary to foster the development of housing affordable to very low, low and moderate -income families and individuals in the City; and WHEREAS, pursuant to Resolution No. 97-169, adopted March, 1997, the City Commission authorized the City Manager to submit to the U.S. Department of Housing and Urban Development, the City's FY 1997 - 1998 Proposed Consolidated Plan, which CITY C01>1—QSSi )MELTMG OF .BAN 13 1998 2 included the FY 1997 Plan for funding under the following grant programs: Community Development Block Grant (CDBG), HOME Investment Partnerships Grant (HOME), Housing Opportunities For Persons With AIDS Grant (HOPWA), and the Emergency Shelter Grant (ESG); and WHEREAS, pursuant to Resolution No. 97-169, approximately $4,203,000.00 in HOME Program funding was received by the City for FY 1997 - 1998 from U.S. HUD; and WHEREAS, pursuant to Resolution No. 97-169, approximately $1,000,000.00 of the HOME Program funding was allocated in connection with the City's FY 1997-98 HOME Multi -Family New Construction Program; and WHEREAS, at the July 24, 1997 City Commission meeting, the City Commission, through Motion No. 97-506, expressed the City Commission's intent to fund the Allapattah Business Development Authority, Inc. ("ABDA") at a level of $500,000.00 from the City's FY 1997 - 1998 HOME Multi -Family New Construction Program in connection with the construction of the proposed 30-unit Ralph's Plaza Townhomes Project --Phase II (the "Project"); and WHEREAS, the City Administration has reviewed and analyzed the proposed housing project and recommends the allocation of $500,000.00 in FY 1997 - 1998 HOME Multi -Family New Construction Program funding to ABDA, in connection with the development of the 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 of this Resolution are hereby adopted by reference thereto, and incorporated herein, as if fully set forth in this Section. Section 2. The City Manager is hereby authorized to allocate funding in the amount of $500,000.00 from the City's FY 1997 - ' 1998 HOME Multi -Family New 2 Construction Program to the Allapattah Business Development Authority, Inc., (ABDA) in connection with the development of the proposed 30-unit Ralph's Plaza Townhomes Project --Phase II (the "Project"). Section 3. The City Manager is hereby authorized' to execute the appropriate legal documents, in a form acceptable to the City Attorney, with ABDA for the purpose of providing site acquisition and project development for the Project. Section 4. This Resolution shall become effective immediately upon its adoption. PASSED AND ADOPTED this 13th day of January , 1998• G— XAVIER L. SUAR Z, MAYOR ATT WALTER J. FO CITY CLE DEPARTMENT OF COMMUNITY DEVELOPMENT REVIEW AND APPROVAL: FRANK C TAVEI A, DIRECTOR DEPARTMENT OF COMMUNITY DEVELOPMENT BUDGETARY REVI EW: O DIPAK M. P REKH, DIRECTOR OFFICE OF MANAGEMENT AND BUDGET ' 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 proscribed by the applicable City Charter and Code Provisions. 3 �- $� 12 PREPARED AND APPROVED BY: LINDA K. KEARSCfN ASSISTANT CITY ATTORNEY APPROVED AS TO FORM AND CORRECTNESS: N J"TES, III, CITY ATTORNEY W2125:csk:LKK SENT BY:CITY OF MIAMI 1- 7-98 ; 9:21PM ; MAYOR XAVIER SUAREZ-j 4162075;# 1/ 2 oiTY OF MIAMI, FLORIDA CA=1:3 [n 1 EN -OF !GS If7G1AVRANDVM TO : Honorswe mayor and DATE . jAN 7 M AILS: Mmbm of the City CQmmissitul sWEcr : PAsolu6on Itclating to to Dewlopmcat of the Ralph's Phu Townhomes project PROM : JOW Gm14 pwrrosa Res' Phase H city Nfimger ENCLOSIMS ; City Commission Mectimg of Jamey 13.1998 RECO NDA1?ON"I It is re.p.odAly meavgn"dod that the City Commission adopted the attached resolution related to the &vgopmag of *e pmpmud 30-emit Ralph's Puna TDB Pmj d -Phase IL tD be om*ucwd at Ncohwest 390 ftreet and Nort#twast 17* Avcmue, in the AHMIP08h aagborcboadI The at ,bed msohitiaa t vim the City Mamm to allocate a+md disburse ft x* in the amount of $500,o00.00 from the OV-.; FY 1997 -1998 Housing Invest Mt Partnership PrOgmm (ROME prom) to the AUmpadmh Business Denralopumd Authority, Inc. (ABDA) pmmrt to Motion No, 97-506, aMpted July 24, 1997, by the City Comm %dm in aMtim them attached rmaolution firmer directs the City Mmager to allocate SM,000A0 in FY 1998 - IM HOME Propm Rwdjzg tD the aforeeneationed 000ration,r the dgvelopmemt of tie proposed honsin$ pmjed. BACKGROUND: At the July 24.1997 C* Commission westing, the City Coo=Wmdo% dmgh Motion No. 97-506, e�cpresao 1 its intone to fund the Albapatub Busb*ft Development Authority, Iuc. (ABDA), in the amwat of* $500,000.00 fmm to GWs FY 1997 - 1998 HObffi Pro&= (Multi-Fm nity New Construction Ptamaj in aoonctkm with the pwpmd 30-unit Ralph's Plan Towabonm Project- -Fbaec 11. The said $M,000.00 in City modal ice w idd be ut bn d by ABDA ID ddmy the cost of she acgaisitioe ($240,000) ad other pre-developm+eut expenses mmodmed with tens comtmwdoa of the primed housing pigect. The City funds would be provided to ABDA as 1paut fitmotg until U pmpoaed hates units at consWicad. Upon the completion of =swucUou of to proposed housing unft4 the City's funds would be tolled ovW imw tbiq (30) thW mcuigeges of 4Mmxbaat * $16,600.00 for esoh of ties prospective homebuyM pumbmb* a huuAM unit in the proje- The estiutated total denrelopo►mt cost for the pbposad bousiay, project is $3,060,473.40. The dtirty (30) 3 belt m&7 baths waits amkt ng of 100 syumv fioet aav pwjcctad to be sold at $79,000.00 each. !)8- 12 SENT BY:CITY OF MIAMI ; 1- 7-98 ; 3:21PM ; MAYOR XAVIER SUAREZ 4162075;# 2/ 2 Honorable Mapar and Members of the City c4mmlwion Page 2 Pr+etantly, the Allapattah Business Dmlopmestt: Aul wky, br., has secured a preliminary commitment for project financin from dw f Rowbl sow;ew 1) City of lufi.eeni (ROMfi Pmluam) $500.00 -00 2) Dade County (1iOME Program) $"01000.00 3) Pine Bank $UO.473.00 $2,330,473.00 Bared on a projected scllinS price of $78,000.00 per wait, there atsll exists a projected: sborAll of woxhustely $720,000 00 in finanosng requW to cammd rr i aanlhuction' of the proposed. housing project. The Allah BUADW De"Opment Audtority, lac. has also r p*od that the City provide the additional $720,000.00 in fuaan dq regWM from its FY 1998 - 19N HOME hwedment Pa hnnbip Program WImatim it is w ic#&%d that an additional $4,203,000.00 in FY 1998 - 1999 HOME Proms ftUbg WE be Medved by the City fom tlw V.S. Department of Housing ad Urban. Development by hm 1, 1998. Ile City Caenmiaeban approval of tine afaa 1 m, wdo ed amount would be subject to AHDA aeauriog a form e m ultment fr m We County for $950,000.00 in Surtax Program funding for flee proposed homiq project. The City is is a position W assist the pbale sector in the dmlopmeW of new homeawmrddp housing, d&rdable to low and w odwsie-iwxm feedlies in the Allapattah nei0bodwd, by meldv available $500,000.00 in City financial assistance fium the City's FY 1997 -1998 HOME Program allocation and S720,000.00 from the aty's FY 1998.1999 HOME Progntm tllooation, to the Allapattah Business Developowd Audwrity, Inc., in cowNdon with the dovelyopmad of the proposed 30-unit Rsip s Plaza Townbomes Proj ect—Plzse L In as atoemipt to fordw promote ft deve3oprnant of new ingloh nily hom in the A1Lapattah neighborhood, City Coon ratificxdon of the attached resolution is recommended <sh=d-m0ra05vlv0ay0rcc38 K