HomeMy WebLinkAboutM-96-0183CITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
RL
TO : Honorable Mayor and Members DATE : FEB 12 f996 FILE
of the City Commission
SUBJECT : Discussion Regarding
Request from Florida
Housing Group, Ltd.
FROM : Ces REFERENCES
city er 0City Commission Agenda
ENCLOSURES: ftem- February 8, 1996
In September of 1987, the City of Miami was successful in. securing $4,650,000 in
Housing Development Grant Program (HODAG) funding from the U.S. Department of
Housing and Urban Development to assist, in park in the financing and construction of a
125 unit Adult Congregate Living Facility (ACLF). The project, Residential Plaza at Blue
Lagoon, was developed by Florida Housing Group, Ltd., on a 1.5 acre parcel located at
Northwest 7th Street and Northwest 57th Avenue.
Since May of 1991, the City of Miami (grantee) and Florida Housing Group, Ltd (owner),
have attempted to close-out the HODAG grant with U.S. H.U.D. The City of Miami has
been unable to close-out the HODAG grant essentially because U.S. H.U.D. has
questioned the eligibility of certain expenses and cost incurred by Florida Housing Group,
Ltd. in the development of the project. In order to resolve this issue, the City is required to
obtain approximately $554,500 from the owner and forward that amount to U.S. H.U.D.
to repay the excess grant drawn down. The City is obligated to make every effort to
recapture the excess amount from the owner.
At the February 8, 1996 City Commission meeting, the representatives of Florida Housing
Group, Ltd. would like to address the City Commission relative to resolving the
aforementioned financial obligation with the City and U.S. H.U.D.
96- 183
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