HomeMy WebLinkAboutR-97-089910 0
J-97-887
12/09/97
RESOLUTION NO. 9 i` S 9 9
A RESOLUTION AUTHORIZING AND DIRECTING THE
CITY MANAGER TO EXPEND UP TO $25,000.00 OF
COMMUNITY DEVELOPMENT BLOCK GRANT PROGRAM
INCOME TO BE UTILIZED BY THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY DEVELOPMENT
AGENCY TO ASSIST MT. ZION COMMUNITY BASED
DEVELOPMENT ORGANIZATION AND BAME COMMUNITY
DEVELOPMENT CORPORATION IN PREPARING THEIR
RESPECTIVE REVISED HOMEOWNERSHIP ZONE FEDERAL
GRANT APPLICATIONS TO BE 'SUBMITTED TO THE
U.S. DEPARTMENT OF HOUSING AND URBAN
DEVELOPMENT PRIOR TO JANUARY 30, 1998.
WHEREAS, the U.S. Department of Housing and Urban
Development ("HUD") has allocated funding and intends to award
grants on a competitive basis for Homeownership Zones; and
WHEREAS, Homeownership Zone means a contiguous,
geographically defined area, primarily residential in character,
in which new homeownership opportunities and the expanded housing
choice provided drive comprehensive revitalization and, together
with other physical, social, and economic development activities,
make a substantial, visible improvement within that community;
and
WHEREAS, Homeownership Zone activities revitalize distressed
areas by converting vacant, abandoned, or blighted land and
buildings into dynamic neighborhoods by developing single family
homes (one to four units) and providing these homes for a mix of
incomes, including low and moderate income families; and
CITY CoMaSSION
MEETING OF
DEC 9 1997
Rerolutloa No.
97- 899
WHEREAS, homeownership serves as a foundation for additional
investment in residential, commercial, and economic development
of the Homeownership Zone; and
WHEREAS, the City of Miami, Florida as a recipient of
Community Development Block Grant funds is eligible to apply for
Homeownership Zone grants in conjunction with Community Based
Development Organizations ("CBDO"); and
WHEREAS, Mt. Zion, an affiliate of Mt. Zion Baptist
Church, is a CBDO operating in the Southeast Overtown/Park West
Community Redevelopment Area ("SEOPW"); and
WHEREAS, Mt.. Zion is proposing to develop a project known
as Mt. Zion Residential in the Overtown community, which is a
40-unit townhome project; and
WHEREAS, Mt. Zion intends to submit a revised application
for a Homeownership Zone grant in the amount of $1,247,440 to
provide the subsidy required to write -down the Mt. Zion
Residential project cost per unit to achieve market -pricing and
enhance the security of a Section 108 Loan; and
WHEREAS, BAME Community Development Corporation ("BAME"), an
affiliate of Greater Bethel AME Church, is also a CBDO operating
in SEOPW; and
WHEREAS, BAME is proposing to develop a project known as New
Hope Residential in the Overtown community, which is a 40-unit
single-family detached housing project; and
WHEREAS, BAME intends to submit a revised application for a
Homeownership Zone grant in the amount of $291,380 to be used as
a direct enhancement of a Section 108 Loan to achieve no less
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than an 80% debt -to -value security interest in the New Hope
Residential project; and
WHEREAS, in order to be considered for a Homeownership Zone
grant Mt. Zion and BAME must submit with their respective
applications, amongst other things: (1) conceptual site plans
and illustrative building elevations and unit layouts; (2) a
detailed project time -line with interim benchmarks by which
project progress can be measured; and (3) a marketing plan for
the project stating how potential home buyers will be informed of
the availability of new or rehabilitated housing units, together
with the criteria for selection of home buyers; and
WHEREAS, Mt. Zion and BAME have requested financial
assistance from the City to assist them in preparing their
respective applications; and
WHEREAS, the Southeast Overtown/Park West Community
Redevelopment Agency is empowered and authorized to coordinate
development activities in the Overtown community, and
WHEREAS, funds are available from Community Development
Block Grant program income to provide the financial assistance
requested by Mt.' Zion and BAME;
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.
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97- 899
Section 2. The City Manager is hereby authorized and
directed to expend up to $25,000.00 of Community Development
Block Grant Program income to be utilized by the Southeast
Overtown/Park West Community Redevelopment Agency to assist Mt.
Zion Community Based Development Organization and BAME Community
Development Corporation in preparing their respective revised
Homeownership Zone Federal Grant Applications to be submitted to
the U.S. Department of Housing and Urban Development prior to
January 30, 1998.
Section 3. This Resolution shall become effective
immediately upon its adoption.
PASSED AND ADOPTED this 9th day of nprpmhpr 04,9
97.
ATTES XAVIER L. SUAR , MAYOR
WALTE OEMAN
CITY CLERK
PREPARED AND APPROVED BY: APPROVED AS TO FORM AND
CORRECTNESS:
LINDA KELLY R INNFEY
ASSISTANT CITY A TORNEY CI ATT
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