HomeMy WebLinkAboutR-98-0033J-98-98
1/13/98
RESOLUTION NO. 9 8 3
A RESOLUTION AUTHORIZING THE CITY MANAGER- TO
ALLOCATE FUNDING FROM THE CITY' S FY 1998 - 1999
HOME INVESTMENT PARTNERSHIP PROGRAM, IN THE
AMOUNT OF ONE MILLION, ONE HUNDRED TWENTY-FIVE
THOUSAND ($1,125,000.00) DOLLARS, AS MORE
SPECIFICALLY STATED IN SECTION 2 OF THIS
RESOLUTION, FOR THE DEVELOPMENT OF THE
TEQUESTA KNOLL APARTMENTS PROJECT CONSISTING
OF APPROXIMATELY 100 UNITS OF AFFORDABLE RENTAL
HOUSING TO BE DEVELOPED IN THE ALLAPATTAH
NEIGHBORHOOD, BY GREATER MIAMI
NEIGHBORHOODS, INC. AND AFFORDABLE
NEIGHBORHOODS, INC., SUBJECT TO CERTAIN TERMS
AND CONDITIONS; AUTHORIZING THE CITY MANAGER TO
EXECUTE AN AGREEMENT WITH THE AFFOREMENTIONED
CORPORATIONS, IN A FORM ACCEPTABLE TO THE CITY
ATTORNEY, FOR SAID PURPOSE.
WHEREAS, there exists in the City of Miami, a severe shortage of affordable housing
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 for this market;
and
WHEREAS, it is anticipated that the City of Miami will be awarded approximately four
million, five hundred twenty thousand dollars ($4,520,000.00) in FY 1998 - 1999 Home
JAN 13 1998
Resolution No.
98- 33
Partnership Program funding from the U.S. Department of Housing and Urban Development by
June 1, 1998; and
WHEREAS, the City Administration recommends the allocation of funding from the
City's FY 1998 - 1999 Home Investment Partnership Program in the amount of one million, one
hundred twenty-five thousand dollars ($1,125,000.00) to Greater Miami Neighborhoods, Inc. and
Affordable Neighborhoods, Inc., for the development of one hundred (100) units of affordable
housing in the City,
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
adopted by reference thereto and incorporated herein as if fully set forth in this Section.
Section 2. Funding from the City's FY 1998 - 1999 HOME Investment Partnership
Program, in the amount of one million, one hundred twenty-five thousand dollars ($1,125,000.00)
is hereby allocated for the purpose of providing project development financing to Greater Miami
Neighborhoods, Inc. and Affordable Neighborhoods, Inc., for the development of the Tequesta
Knoll Apartments Project ('Project") consisting of 100 affordable rental housing units in the
City's Allapattah neighborhood.
Section 3. Funding in the amount of one million, one hundred twenty-five thousand
dollars ($1,125,000.00) for the proposed Project is subject to Greater Miami Neighborhood, Inc.
and Affordable Neighborhoods, Inc. securing additional project financing and approval from the
Florida Housing Finance Agency, under the State of Florida's Low -Income Rental Housing Tax
Credit Program.
2 98- 33
Section 4. The City Manager is hereby authorized' to execute an agreement, in a form
acceptable to the City Attorney, with the aforementioned developers, for the purpose of providing
project development financing for the development of one hundred (100) units of affordable rental
housing in the Allapattah neighborhood.
Section 5. This Resolution shall become effective immediately upon its adoption.
PASSED AND ADOPTED this 13th day of January , 1998.
X IER L. SU Z, MAYOR
COMMUNITY DEVELOPMENT DEPARTMENT
REVIEW AND APPROVAL:
ELBER . WATERS, DIRECTOR
' 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 the applicable
City Charter and Code Provisions.
3 9s- 33
PREPARED AND APPROVED BY:
LINDA K. KEARSON
ASSISTANT CITY ATTORNEY
APPROVED AS TO FORM AND
CORRECTNESS:
W2188:CSK:LKK
98- 33
TO
FROM
CITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
The Honorable Chairman and DATE
Members of th mmi�i' n
SUBJECT:
V-
Wifredo illy) Gort REFERENCES:
Commi ioner
ENCLOSURES:
January 13, 1998
Pocket Item
FILE :
I would like to bring up at the January 13, 1998 Commission Meeting a pocket item to
approve approximately 1.1 million dollars in home program funds, to assist in the
development of one -hundred units of affordable housing (rental) in the Allapattah
Neighborhood, by Greater Miami Neighborhoods, Inc., and Affordable Neighborhoods,
Inc.
Attached is a copy of the resolution.
Thank you for your cooperation.
c.c.: The Honorable Mayor, Xavier Suarez
City Manager, Jose Garcia -Pedrosa
City Clerk, Walter Foeman
City Attorney, A. Quinn Jones
33