HomeMy WebLinkAboutR-98-0169.1J-98-221
2/10/98
RESOLUTION NO. 9 8 - 16 9.1
A RESOLUTION RELATING TO THE DEVELOPMENT OF
THE PROPOSED LATIN QUARTER SPECIALTY CENTER,
A 45-UNIT MIXED USE PROJECT PLANNED AT 1475
SOUTHWEST 8TH STREET, MIAMI, FLORIDA, BY THE
EAST LITTLE HAVANA COMMUNITY DEVELOPMENT
CORPORATION; APPROVING IN PRINCIPLE, THE
ALLOCATION OF $1,600,000.00 IN COMMUNITY
DEVELOPMENT BLOCK GRANT ("CDBG") PROGRAM
FUNDING IN CONNECTION WITH THE FINANCING OF
THE AFOREMENTIONED MIXED USE PROJECT;
DIRECTING THE CITY MANAGER TO IDENTIFY AND
COMMIT FUNDING FROM THE COMMUNITY DEVELOPMENT
BLOCK GRANT PROGRAM FOR SAID PURPOSE AND TO
RETURN TO THE CITY COMMISSION FOR FINAL
APPROVAL AND ALLOCATION OF SAID FUNDING.
WHEREAS, there exists in the City of Miami a severe shortage
of housing within the affordability range of families and
individuals of 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 housing within the affordability
range of the City's low and moderate income families and
individuals; and
WHEREAS, in June, 1991, pursuant to Resolution No. 91-448,
the City Commission authorized the purchase of six (6) parcels of
land from the City of Miami's Department of Off -Street Parking,
said parcels located at 1453 and 1461 Southwest 8th Street,
CITY COWDUSSION
MEETING OF
FEB 1 0 1998
Resoluttoa No.
98- 169.1
Miami, Florida, for use in connection with the proposed Latin
Quarter Specialty Center project; and
WHEREAS, in July, 1995, pursuant to Resolution No. 95-535,
the City Commission allocated approximately $1,050,000.00 in
funding from the City's HOME Investment Partnership Program, for
the purpose of acquiring the aforementioned parcels in connection
with the proposed Latin Quarter Specialty Center project; and
WHEREAS, in July, 1995, pursuant to Resolution No. 95-560,
the City Commission approved in principle, the designation of the
East Little Havana Community Development Corporation as the
sponsor to undertake a 50 to 75-unit residential/retail mixed use
project consisting of 10,000 - 15,000 square feet of retail
space, planed for developments on six (6) parcels of vacant land
located at 1435, 1453 and 1461 Southwest 8th Street, Miami,
Florida (located in the Little Havana neighborhood); and
WHEREAS, in December, 1997, pursuant to Resolution
No. 97-864, the City Commission allocated $1,000,000.00 in FY
1996 - 197 SHIP Program funds to the East Little Havana Community
Development Corporation in connection with the construction of
the proposed Latin Quarter Specialty Center Project; and
WHEREAS, to date, the East Little Havana Community
Development Corporation has also secured $2,882,517.00 in project
financing from Pacific National Bank/Homes For South Florida,
$1,000,000.00 from Local Initiatives Support Corporation and
$800,000.00 from Miami -Dade County, Florida; and
WHEREAS, the East Little Havana Community Development
Corporation has made a request for additional funding from the
- 2 - 98- 169.1
City of Miami from the 24th-Year CDBG Program in connection with
the financing of the proposed project; and
WHEREAS, the City Administration is supportive of the East
Little Havana Community Development Corporations efforts to
develop the proposed Latin Quarter Specialty Center planned in
the Little Havana neighborhoods; and
WHEREAS, in an effort to move the construction of the
proposed project forward, the City Administration recommends
approving, in principle, the allocation of $1,600,000.00 in CDBG
program funding for the purpose of providing project financing to
the East Little Havana Community Development Corporation, in
connection with the development of the proposed Latin Quarter
Specialty Center;
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. The City Commission hereby approves, in
principle, the allocation of $1,600,000.00 in Community
Development Block Grant (11CDBG11) Program funding in connection
with the financing of the proposed Latin Quarter Specialty
Center, a 45-unit mixed use project planned to be developed at
1475 Southwest 8th Street, Miami, Florida, by the East Little
Havana Community Development Corporation.
- 3 -
Section 3. The City Manager is hereby directed to
identify and commit said funding from the CDBG Program for said
purpose and to return to the City Commission for final approval
and allocation of said funding.
Section 4. This Resolution shall become effective
immediately upon its adoption.
PASSED AND ADOPTED this loth day of February 1998.
--�z -4�7
Y-ITVIER L. SUAREZ, MAYOR
ATTEST:
WALTER J.
CITY„CLERK
TY D VELOPMENT DEPARTMENT
T
D P ROVAL: }
L.1 PATERS, DIRECTOR
PREPARED`4ND APPROVED BY:
"LINDA KELLY KEARSON
ASSISTANT CITY ATTORNEY
APPROVED AS TO FORM AND CORRECTNESS:
4�� G✓' G . G«
L EDWARD MAXW L
I ERIM CITY ATT6RNEY
LKK/BSS/pb/W2283
4 -