HomeMy WebLinkAboutM-96-0196SENT BY:DEV/HOUSING—ASSET MGMT; 3— 6-96 ; 15:42 CITY OF M101—+ CITY MANAGER'S OFF.;# 2/ 2
C11Y OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM 45
c(.) . Honorable: Mayor and DATA : MAR 6 1996 FILE
Members of the City Commission
:4tIIiIFc;i• : Resolution Relating to
Purchase of 1,and for
Development of an
Approx. 100- unit•
FROM : REFERENCES 'Rousing Project
CesaVr!e
City ENCLUSU14ES `ncferred to Commission
Meetina of 3/14/96
WE
RECCWEDTDAT ION
It is respectfully recommended that the City Commission adopt the
aUt_ached resolution relating to the proposed development of
approxa.mately 100 units of affordable housing in the vicinity of
Lummus Park aTId Northwest N. River Drive by the Downtown Miami
Community Development Coalition, working jointly with the 5t. John's
Community Development Corporationr inc.; authorizing the City Manager
to secure appraisals and commence negotiaTiOT%b fur acquisition of
property in -the area; and, approving, in principle, the designation of
the Downtown Miami Coinmuni't:y Development Coalition as sponsor to
undertake the development of the proposed project.
BACKGROUND
To foster the development of housing affordable To low and moderate
income families and individuals in the City, it is recognized that
participation from both the public and private sector is necessary.
In order to expedite the development of approximately 100 units of
affordable housing ir. the Overtown/Riverside area, the: Downtown Miami
Community Development Coalition has requester: de siyriation by the City
as the project's sponsor and financial assistance i.n connection with
the acquisition cif the property. The sponsor will seek state and
local funds including State Law Tneome Housing Tax Credits and other
forms of financing for the proposed project.
In an effort to further promote the development of new affordable
housing units in the City, City Commission approval of Lhe attached
resolution is recommended.
96- 196
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